tesla and netflix report quarterly earnings. we delve into the financial performance of two major names in the us tech sector. and it's one of the most anticipated movies this year. how much is barbie worth to toymaker mattel? we'll hear from its chief executive. hello and welcome to asia business report. i'm monica miller. we begin with netflix because the streaming giant's shares have dropped more than 6% after the bell. the company mostly beat wall street earnings forecasts for the second quarter, but disappointed on revenue. that's despite new initiatives like a crackdown on password sharing and the launch of an ad—supported subscription tier.

mike proulx is forrester�*s research director and he noted that those moves helped netflix add an impressive number of new customers. this is an incredible number and it is in large part due to the crackdown on password sharing. so the launch of the programme is absolutely a success and why they're going to lunch it in additional countries of.— to lunch it in additional countries of. . , countries of. can you tell us about looking _ countries of. can you tell us about looking forward? - countries of. can you tell us - about looking forward? because about looking forward 7 because there about looking forward? because there is a massive strike that is going on in hollywood with the writers as well as the actors. i know these numbers don't reject this, but what do you project if they don't have any production in the pipeline? netflix, and the same cannot be said for its competition, has a little bit of immunity to what's going on in hollywood because of the fact that the company has such a large

international footprint. company has such a large internationalfootprint. this will provide an element of air cover to keep it fresh with new programmes, new shows, new movies while things play out in hollywood. but make no mistake, it will impact the company. i do want to get back to the ad service. it seems like the ads are here to stay, we no longer can share our passwords, but they did make an announcement, what you tell us about that? with regards to advertising, they were pretty tight—lipped about what's going on in terms of revenue. what they have indicated in their earnings video that is playing out right now. it is slow going, there is work to be done on its ad business to be able to scale it give marketers the reach they would expect. so it's going to take some time to get up to

snuff, but the company is investing a lot of time and energy and resources into building out is that products. that's mike proulx. and now let's focus on tesla, because the us electric vehicle maker has also just released its quarterly results, and its shares are also slightly in the red in after hours trading. the company's report card showed tesla's profit margins were squeezed by chief executive elon musk�*s decision to double down on a price war with rival auto—makers. earlier, i spoke to digital economy expert arun sunda—rajan, who expressed doubts about this strategy of cutting prices. they didn't come as a big surprise, but there is certainly cause for concern. this feels like a price war with new long—term strategy to raise margins if tesla wins the war. delivery numbers were great, revenues are at record

highs, but gross margins are at the lowest they've ever been. the operating margin has dropped below io%. and the reason why this is of concern is that in order to justify its market cap, tesla's earnings have to grow by bid multiple like 5—7 times. i wonder if tesla is hurting its long—term prospects by trying to appease wall street short hitting the 2 million target. the fifa women's world cup kicks off today in sydney and auckland with australia against ireland and norway takes on new zealand.

the tournament will last a month and draws teams from each continent. our business reporter this morning katie silver has more on the story. what are you expecting to happen in terms of its revenue? that's right. there's a lot of enthusiasm about what this might bring for the future of the sport. tonight's game was supposed to be held here, but they had to move it after it was so many tickets sold — about 80,000. people are desperately trying to buy tickets on the second—hand market. as well as the idea that it may well lead to more investment going forward. this is something that i spoke to the coach of the women's football team about. the biggest most important club in the country at club level. he said this is going to lead to a huge investment going forward. it's going to be enormous for our football. it's going to be enormous for ourfootball. i it's going to be enormous for our football. i think in the short_ our football. i think in the short term, those ticket sales and kids— short term, those ticket sales and kids coming to the game, those — and kids coming to the game, those stadiums will be full. there's_ those stadiums will be full. there's going to be hopefully more — there's going to be hopefully more fans coming to the game.

the more — more fans coming to the game. the more sponsors in the game ends _ the more sponsors in the game ends we — the more sponsors in the game ends we can get back to the cubes — ends we can get back to the cubes in _ ends we can get back to the cubes in terms of development which _ cubes in terms of development which is — cubes in terms of development which is huge as well. did cubes in terms of development which is huge as well.- which is huge as well. did we see that when _ which is huge as well. did we see that when the _ which is huge as well. did we see that when the lionessesl which is huge as well. did we . see that when the lionesses won the euros?— the euros? the impact was the norm is. the euros? the impact was the norm is- i _ the euros? the impact was the norm is. ithink— the euros? the impact was the norm is. i think there - the euros? the impact was the norm is. i think there was - norm is. i think there was a game — norm is. i think there was a game with— norm is. i think there was a game with chelsea and arsenal with 70,000 people. it's huge. you can— with 70,000 people. it's huge. you can see on social media everywhere. you can see on social media everywhere-— you can see on social media eve here. ,,. ., , everywhere. sam kerr was there. you're on — everywhere. sam kerr was there. you're on the _ everywhere. sam kerr was there. you're on the coaching _ everywhere. sam kerr was there. you're on the coaching staff - everywhere. sam kerr was there. you're on the coaching staff of i you're on the coaching staff of the matilda's ten years ago when they had to advocate for their laundry to be done. what have you seen in ten years? 0bviously, quality has obviously, quality has improved. matildas as a brand has been _ improved. matildas as a brand has been huge. everyone knows matildas — has been huge. everyone knows matildas and sam kerr. the

amount_ matildas and sam kerr. the amount of pay they get's increased, they travel first class — increased, they travel first class now when they go away. just iittie _ class now when they go away. just little things, but an enormous change. only ten or 15 years— enormous change. only ten or 15 years ago— enormous change. only ten or 15 years ago it _ enormous change. only ten or 15 years ago it was a lot less, so it's good _ years ago it was a lot less, so it's good to _ years ago it was a lot less, so it's good to get what they deserve. it's good to get what they deserve-— it's good to get what they deserve. ~ �* ., ., , deserve. we're going to see that going — deserve. we're going to see that going forward. - deserve. we're going to see that going forward. much i that going forward. much excitement about what this is going to bring for the sport. we've also seen around the city huge advertisements both for the cup as well as for the sponsors. no doubt generating more income. thank you very much. it's one of the most hotly anticipated films of the summer — barbie the movie. that's right, barbie the famous — some might say infamous — children's doll, after more than 60 years on the market, has been turned into a film. it's part of a wider business strategy by barbie's manufacturers, the toymaker mattel. 0ur reporter dougal shaw has been speaking to their ceo.

# close your eyes and find... first — # close your eyes and find... first of— # close your eyes and find... first of all. _ # close your eyes and find... first of all, why make this film? , , ., film? this is part of the strategy _ film? this is part of the strategy to _ film? this is part of the strategy to a _ film? this is part of the strategy to a ball - film? this is part of the strategy to a ball motel film? this is part of the - strategy to a ball motel from being a company that was being... people who buy our product are notjust consumers, they are fans. product are not 'ust consumers, they fans._ they are fans. and my heels are on the ground. _ they are fans. and my heels are on the ground. feet? _ on the ground. feet? they scream - on the ground. feet? they scream were | on the ground. feet? i they scream were you on the ground. feet? - they scream were you taking on the ground. feet? _ they scream were you taking a bit of a risk? in the film, they do make fun of barbie for being a superficial character, a bit naive.— a bit naive. it's very original. _ a bit naive. it's very original, is - a bit naive. it's very original, is not - a bit naive. it's very - original, is not conventional. it's a big, bold comedy with hearts. it's about self—discovery, empowerment and brings together faction,

self—discovery, empowerment and brings togetherfaction, music, humour, self—deprecation —— fashion. 0ur idea was to partner with the best in the business. when you do that, magic happens. business. when you do that, magic happens-_ business. when you do that, magic happens. you guys ever think about — magic happens. you guys ever think about dying? _ think about dying? music stops you've talked about building a mattell universe. do you think you really have enough brands to do that? we have one of — enough brands to do that? - have one of the strongest portfolios of franchises in the world, a very diverse and varied with different demographics from barbie to hot wills, and many, many more. the opportunity for us is to connect with fans in many different ways and continue to evolve our offering for fans. do you think mattel will still be making physical plastic dolls in ten years' time? we

absolutely _ dolls in ten years' time? - absolutely believe in physical play. physical play is here to stay, and the toy industry is growing. it's an important part of children's development. kids touch it, they hug it, they go touch it, they hug it, they go to the bed with the product, and toys are inspirational as much as they are aspirational. the beauty for mattel, we can expand our business in addition to what we do within the toy aisle, and that is the excitement we have in our journey. excitement we have in our journey-— excitement we have in our journey. excitement we have in our 'ourne . ,, , ., ., now let's turn to the financial results of goldman sachs because the wall street giant has reported a staggering 60% drop in profits in the second quarter. write—downs on the investment bank's consumer businesses and real estate investments weighed on its earnings. the results were the worst for the company since the second quarter of 2020, when it took write—downs over a corruption scandal linked to the malaysian state fund imdb.

and that's it for this edition of asia business report. thanks for watching. i'm monica miller. bbc news — bringing you different stories from across the uk. this is vinnie from cardiff. a former drug dealer, he was hooked on heroin from the age of ia. he also took pills, benzodiazepines, but not the real ones from the doctor — fake ones he bought on the street and online. the drugs, often called benzos, are sedatives. you might know them by the names diazepam, valium or xanax, and there are concerns that people are increasingly buying them online thinking they're getting legitimate pharmaceutical products. the latest figures suggest there were six drug there were 61 drug deaths in wales involving benzodiazepines in 2021, up from 35 in 2020.

and it's something that drugs charities are concerned about. the problem with all these drugs, they're not real. testing done here at this lab run by public health wales has found that many drugs bought online are often not what they claim to be. in the last year, two in every five samples they tested contained something different to what they were sold as. vinnie has now turned his life around and has been clean of drugs for five years. vinnie hopes by speaking out, he can make more people realise the dangers of drugs and of buying them online. for more stories from across the uk, head to the bbc news website. hey, i'm zof with the catch up. tonight — dan wootton speaks out, possible twists in tupac�*s murder and a graduation proposal. gigi hadid was arrested and fined in the cayman islands earlier this month over cannabis possession. gigi hadid was arrested and fined in the cayman islands earlier this month over cannabis possession. the 28—year—old and her friend were detained after their luggage was searched as they arrived on a private jet for a holiday on the 10th ofjuly. they pleaded guilty in court and paid a fine,

but no conviction was recorded. gigi's rep said the cannabis possession was bought legally in new york with a medical licence. some other stories for you now. presenter dan wootton has denied criminality in relation to allegations against him. some reports claim he offered media colleagues money for explicit material of themselves. he said on his tv show he has made errors of judgment in the past. and next up, police in nevada have confirmed they carried out a search warrant this week in connection with the unsolved killing of rapper tupac. detectives carried out a search at a home in las vegas, where he was gunned down back in september 1996. they didn't provide any more details of the search. no arrests have been made and no suspects are currently in custody. and finally, there are more soaring temperatures across southern europe, north america and asia. wildfires are also ongoing in greece and the swiss alps. warnings do mean that heat

poses a threat to everyone. and time now for ten seconds of love at this graduation proposal at newcastle uni. as this woman received her degree certificate, her boyfriend certificate, her boyfriend proposed to her. luckily, she said yeah — proposed to her. i mean, it would've been slightly awkward if she been slightly awkward if she said no, don't you reckon? said no, don't you reckon? and you're all caught up now. and you're all caught up now. see you later. see you later.