tv Asia Business Report BBC News October 25, 2023 2:30am-2:46am BST
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economic recovery. but first, we take a look at meta, the parent company of facebook, instagram and whatsapp. it's set to report its quarterly results on wednesday us time. ahead of that, a coalition of us states have sued meta, claiming facebook and instagram are harmful to young people's mental health. in response, the company said it was "disappointed" with the lawsuit, and said it is committed to providing a safe environment for teens. from new york, here's our business correspondent michelle fleury. a group of 41 states and the district of columbia are taking action against meta. the federal and state lawsuits allege that meta designed facebook and instagram products to keep young users on them for longer and repeatedly coming back. the lawsuit also accuses meta of routinely collecting the data of children under 13 without parental consent. here is the tennessee attorney general.
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kids are particularly vulnerable, this is an unbelievably sophisticated company using every technique they could identify to make the platform addictive. meta said it was disappointed by the action and that it was working to create a safe environment for teenagers using its apps. a company spokesman said it was important to recognise that many teens find support and community on social media when they are struggling. this is an issue facing many social media companies, with legislators worried that today's action was just the start. —— legislators warning. this is not singling out meta. social media is an industry, it is plagued with exactly the same sort of problem — as many of you may be aware, we are in litigation with tiktok right now. with this case, the states are trying to force meta to change features that they could pose a danger to teenagers.
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this lawsuit, the biggest of its kind so far. that was my colleague michelle fleury reporting from new york on meta, which reports its results later this week. but a number of other tech companies have released their quarterly results earlier today. let's run you through some of them. google's parent company alphabet has reported an 11% revenue growth in the quarter ending september. that's the first time in over a year that the company has posted growth in double digits — bolstered mainly by advertising revenue. but its cloud business had missed analysts�* expectations, sending shares down about 6% in after—hours trading. microsoft's cloud services, on the other hand, had boosted the company profits. its revenue grew 13% in thejuly to september quarter compared to the same period last year. social media company snap posted a 5% growth in revenue for the latest quarter, sending shares up by as much as 20%.
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but that's now dipped a little after the company said it will not provide an official guidance for the last quarter, citing instability in the middle east. snap said it saw pauses in many advertising campaigns in the immediate aftermath of the war between israel and hamas. well, we'll likely see those bumper quarterly earnings from other tech companies all through this week. that's according to sarah kunst, the managing director of venture capital firm cleo capital, which invests in early—stage businesses. i spoke to her a little earlier. we are going to be looking at the same things, particularly when it comes to the guidance around advertising, what happens before the fourth quarter in the middle east, it's good to have a huge impact advert to spend. it might be good for in app time, people might be on platforms more but i don't know if it will be great for advertiser dollars. i think that's going to be a big
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part of the story that meta is telling us. one interesting thing is when everyone was talking about ara, —— about al, i don't know if lamara is going to feature as prominently this quarter. i think it's going to innovate off the fundamentals and how people are using the platform. i doubt we will hear any break out numbers around threads even though it seems like over the past few weeks there has been an uptick in usage there but we will wait and see until they get big enough. and see until they get big enou:h. ., ., �* and see until they get big enou:h. ., ., ~ . enough. you mentioned ai and i want to understand, _ enough. you mentioned ai and i want to understand, what - enough. you mentioned ai and i want to understand, what more | want to understand, what more needs to be done in the context to make it a bigger contributor to make it a bigger contributor to revenue? i to make it a bigger contributor to revenue?— to revenue? i think these companies _ to revenue? i think these companies will _ to revenue? i think these companies will need - to revenue? i think these companies will need to i to revenue? i think these l companies will need to find to revenue? i think these - companies will need to find a business model for it. i know you have these companies that just don't actually make a tonne of money from their ai businesses, they like to talk about them, certainly companies like microsoft, it has been a huge help with their stock price over the course of this
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year. they investment in open ai, the integration of chatgpt into their search engine bing, and other products they have, so i think the microsoft they have been trading on that hope but when you look at the revenue there are not very many users subscribing to chatgpt and that number has trailed off since some of the bigger lodges earlier this year. and of the revenue side in terms of enterprise, there hasn't yet been a killer feature with al that turns around and drives revenue higher. so once that happens i think we will hear a lot more about the sort of reality of ai working, rather than just the promise. than 'ust the promise. besides tech thanjust the promise. besides tech trends. — thanjust the promise. besides tech trends, american - tech trends, american car—makers are also reporting this week the results against the backdrop of a strike that has lasted weeks. despite that, general motors reported quarterly earnings that beat expectations of many analysts. but it says the ongoing labour strikes are costing the company about $200 million per week because of lost
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vehicle production. to india now, where it has topped the list of countries where its people are seeking citizenship in wealthy nations. that's according to a recently released migration outlook by the inter—governmental organisation oecd. from mumbai, our india business correspondent nikhil inamdar has more details. india replaced china as the main source of new migrants to the wealthy oecd block macro in 2021 and has since maintained that position. it saw some 4007000 people migrated to these countries, making up for about 7.5% of the global flow, thus the data available for 2021 and part of 2022. this figure excludes students but indians were also the second—largest pool of international students in oecd countries following china. in fact the number of students from india has doubled since 2014 according the report.
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apart from education, number of bilateral agreements in advanced migration and mobility partnerships have led to this growth. portugal, germany, and australia have recently concluded such agreements with india which is also previously signed them with countries like finland, france and the uk. a separate report also showed india accounted for a tenth of the total applicants for golden passports which essentially offer citizenship by investment. sri lanka has announced visa—free entry for international travellers from seven countries, in a bid to shore up tourism dollars to help its crisis—hit economy. the countries include the likes of india and russia — both of which are sri lanka's biggest sources of tourists. questionable government policies in the past and the pandemic led to sri lanka's economy collapsing just over a year ago, economy collapsing just over a yearago, leading economy collapsing just over a year ago, leading to a massive shortage of foreign currency in the country. that led to a
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nationwide lack in everything from food to fuel to medicine because the government had no money to buy them from overseas. now, diversity in the workplace is a big issue these days, whether it's about gender, ethnicity, or disability. for many companies, it's just seen as a progressive policy, the right thing to do. but one campaigner we've been speaking to says it makes business sense too. i meet a lot of people as i go round the business community with the word "founder" at the bottom of the e—mail, they tend to be people with disabilities, people of colour and other people who have not been given opportunities by conventional employment. i want to change that.
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so many employers think that taking on someone with a disability will cost them money in all sorts of ways — adaptive technology, time off sick, which will affect the bottom line. it is completely wrong. take on the right proportion of people with disabilities in your workplace, attrition rates will go down, so recruitment costs will go down, everyone will start taking less time off work, crucially you have then got a workforce who understand all of the audience, notjust 80% of it, or if you include the families of disabled people, 50%, the whole of your potential audience, and you will make more money. and that's it for this edition
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of asia business report. you can find much more is always on the bbc news website. thanks for watching. bbc news, bringing you different stories from across the uk. it may look like a small circle of paint, but for many former cancer patients, it's the missing puzzle piece. anna ishak is an award—winning permanent makeup artist, but the real prize is using her skills to help people who've undergone huge physical changes as a result of surgery. it's vitalfor those men and women who fought breast cancer to have this final step to feel themselves whole. mum of two laura rose from lincolnshire was diagnosed with breast cancer in 2021 and had a double mastectomy. after my reconstruction, i was left with no nipples
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and it was something that i thought, you know, it's ok, it's fine. i still look normal having a reconstruction. and i was happy with that. as time went on... it sort of grates on you a little bit. she discovered anna offering the service privately in chester and made the five—hour round trip for the treatment, which cost £600 for a pair of tattoos. ijust feel complete. i can look in the mirror and feel normal. not that i stand there every day and do that! i did to start with, because i'm so happy. i'm so happy with it. for more stories from across the uk, head to the bbc news website. hey, i'm zof with the catch up. tonight — the uk living wage will increase next year. a change to the tinder app. and llamas on the loose. but first, as the israel—gaza war continues,
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an elderly woman has been released by hamas after being held hostage. yocheved lifschitz�*s daughter described the moment her mum was kidnapped. while she was being taken, she was hit by sticks by shabab people. her husband is still being held hostage. meanwhile, tuesday's expected humanitarian delivery to gaza has been delayed, but the un warns its aid operations will end if fuel supplies don't arrive. some other stories now. a bbc investigation has found that the government failed to act on multiple warnings about a website promoting suicide. at least 50 people in the uk took their own life after visiting it. the government says that the new online safety bill should tackle these kinds of sites. the uk living wage will increase to £13 an hour in london. under the voluntary scheme, employers can choose to pay workers at a higher rate than the government—set minimum wage. we've all got mates who love a swipe on tinder. well, the dating app is changing
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by letting friends and family recommend potential matches. the feature means users can give others access to their accounts for 24 hours. just imagine the chaos. time now for ten seconds of llamas on the loose in cumbria, bringing traffic to a standstill after they escaped from a farm. they are on a mission, aren't they? just look at them go, taken over the road. thankfully, they are back to safety now. you're caught up now. see you later.
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hello and welcome to sportsday. i'm tulsen tollett. drama in the champions league as manchester united get their first group stage win, but only after copenhagen miss a stoppage time penalty. quinton de kock shows his class as south africa ease to victory against bangladesh at the cricket world cup. and four days out from the world cup final, world rugby announces a brand new tournament that signifies a new era for the sport.
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welcome along to the programme, where we start with the champions league, and after back—to—back defeats, manchester united have finally picked up their first win of the campaign, but onlyjust. their match against fc copenhagen appeared to be heading towards a goalless draw, but it sparked into life when harry maguire put united ahead with 18 minutes remaining, his first goal since february 2022. but in the final seconds, copenhagen were awarded the penalty. however, andre onana saved jordan larsson�*s effort to secure all three points. players are stepping up and and getting their markers. from there, they built up the belief in harry mcguire, you see it in andre onana. i think also there were others with good performances, and so if we produce that in the copenhagen game, then we can build something.
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