the first of the big five where the first of the big five tech giants has reported earnings. google parent alphabet beat third—quarter revenue expectations, helped by the growth of the cloud computing business. alphabet reported third—quarter sales that topped analyst expectations, the parent company of google was helped by steady growth in the digital advertising business, and an ai jump advertising business, and an ai jump in demand for cloud services. alphabet reported a profit of $2.12 per share while revenue increased 15% to $88 billion. the ceo said investment in al were paying off in use and sales and search off in use and sales and search of cloud businesses. as the main search business matures, google is betting on growth in the cloud division which applies computing power, software and services to other

companies. google drew more cloud customers using a the i expertise to gain ground on rival is amazon and microsoft. chip—maker amd has reported that its data centre business has doubled in sales for the second straight quarter. the chief executive has also raised the forecast for al chip sales for 2025, the forecast for al chip sales for2025, but the forecast for al chip sales for 2025, but it fell short of analyst estimates, who say the company lagging behind market leader in — video, sending the stock down 7% in after—hours training. earnings forthe third quarterfor snap training. earnings forthe third quarter for snap saw shares soar. a 15% increase and the company narrowed its net loss to $150 million, however it lowered its outlook for the fourth quarter citing softer advertising spend. meta, and was will also report this week as analysts watched for clues on whether the big spend on

artificial intelligence is starting to deliver results. it's interesting right now, all but two of the big seven are reporting. some of the things you highlighted, the sensitivity, ad spend will be strong in an election year, we will see big ramp up, and a soft landing in terms of the economy, which means that has been resilient. those areas we saw last night were still resilient. cloud and ai chip spending will be watched, not just the result but given whether valuations are, the outlook into 2025. we also think, if you want to play ai, you can look outside, into semiconductor software, data infrastructure, the pickaxe and shovels that build aii want to ask you about al, hugely expensive investment for these

companies, probably takes a long time to pay off. i5 companies, probably takes a long time to pay off. is it -a in: long time to pay off. is it paying off _ long time to pay off. is it paying off for _ long time to pay off. is it paying off for any - long time to pay off. is it paying off for any of - long time to pay off. is it i paying off for any of them? that is the trillion dollar question. the key thing for investors, what is the return on investment for al spend? we have seen that software development is the most popular area, ai chatbots, but will it be like the internet in 2000, where it took longer than expected? we think there are real efficiency gains, but the key is which companies implement them earlier and employ it in their architecture. that is the first step. right now you have five companies driving 80% of the cap ex spend. for now, it's full steam ahead.— full steam ahead. it's interesting _ full steam ahead. it's interesting you - full steam ahead. it's interesting you say i full steam ahead. it's interesting you say which companies will it pay off for? we talk about chatgpt and open ai, first mover advantage, and now google coming in. can these

companies catch up with the advantage chatgpt had launching early on? advantage chatgpt had launching earl on? �* ., . early on? another crucial question- _ early on? another crucial question. clearly - early on? another crucial question. clearly full - early on? another crucial- question. clearly full search, this is isa viewed as additive as well as competitive. —— this is viewed as additive. just like the internet in 2000, will there be one dominant provider? like a monopoly, like in search, orwill like a monopoly, like in search, or will it be spread and be more fragmented? that is key. right now they are spending because this is clearly full competitive advantage, first mover advantage, first mover advantage like you said. right now, two or three are in the lead. �* . ~ , ,, lead. and quickly, the us election. _ lead. and quickly, the us election, how _ lead. and quickly, the us election, how are - lead. and quickly, the us election, how are you - lead. and quickly, the us - election, how are you weighing up election, how are you weighing up the risks? we election, how are you weighing up the risks?— up the risks? we are focusing on policy. _ up the risks? we are focusing on policy. not _ up the risks? we are focusing on policy, not politics. - on policy, not politics. clearly in the hoopla of the elections, one thing that is not as closely looked at is congressional make up, who wins the congress? if we have a split congress, it means less change of tax policy, less change of tax policy, less change in terms of one deals with the dollar, because we

won't have as much stimulus. perhaps more bipartisan compromise. on the flip side, it would mean perhaps higher bond yields, other things being equal, and that has an impact for the fed policy in 2025. we are going to wait for the outcome, it's very close to call right now.— call right now. these are reported _ call right now. these are reported a _ call right now. these are reported a 1296 _ call right now. these are reported a 12%jump - call right now. these are reported a 12%jump in l call right now. these are - reported a 12%jump in revenue to more than $9 billion between july and september. —— visa reported. cross—border payments increased by 13%. the shares rose by nearly 2% after the closing bell. turning to spain, record numbers of migrants arriving on its shores this year, putting the issue of immigration firmly at the centre of political debate. it has also raised questions about the place of migrants within the place of migrants within the spanish economy. last year, spanish gdp grew about 3%, but there are concerns that the low

birth rate could cause long—term problems unless large numbers of immigrants are incorporated into the workforce. asylu m asylum seekers play bingo in the hotel where they are being housed near the city of lyon. many have harrowing stories, such as michael, who left his native ghana to escape a local feud which saw his father and sister killed. i feud which saw his father and sister killed.— sister killed. i was so happy, i was so _ sister killed. i was so happy, i was so happy- _ sister killed. i was so happy, i was so happy. all _ sister killed. i was so happy, i was so happy. all my - i was so happy. all my troubles, people trying to kill me. in spain, you are safe. this hotel has been converted into a stay centre, housing around 170 sub—saharan africans who arrived in spain recently. a local ngo give them advice on labour law and teaches them spanish. with a view to helping them find jobs.

translation: ~ ., them find jobs. translation: ., translation: we are in contact with a lot of _ translation: we are in contact with a lot of companies - translation: we are in contact with a lot of companies in - translation: we are in contact with a lot of companies in leon l with a lot of companies in leon in companies like construction, forest management and farming. they get in touch because they know we have people who want to work. , ., ., work. this man from mali recently _ work. this man from mali recently started - work. this man from mali recently started working | work. this man from malil recently started working in work. this man from mali i recently started working in a nearby factory that makes products from marble and granite. translation: ~ ., ., granite. translation: ., ., ., translation: we need a lot of manpower— translation: we need a lot of manpower in — translation: we need a lot of manpower in this _ translation: we need a lot of manpower in this profession - translation: we need a lot of manpower in this profession but it stops, it gets cold. you have to lift heavy weight. so it's not the job have to lift heavy weight. so it's not thejob many have to lift heavy weight. so it's not the job many young people here want to do, so immigrants provide an important opportunity for us.— opportunity for us. more than 38,000 undocumented - opportunity for us. more than i 38,000 undocumented migrants have arrived in spain so far this year. most of them travelling from africa to the canary islands. while these arrivals have generated fierce political debate, many believe the economic case for them to join the workforce is

overwhelming. spain's central bank, whose headquarters are right behind me, recently published a report underlining the importance of immigration for the national economy. in fact, it said that over the next 30 years, spain's going to need around 25 million immigrants in orderto need around 25 million immigrants in order to keep the economy on track. the low birth rate means the number of working age spaniards is shrinking. 50 working age spaniards is shrinking-— working age spaniards is shrinking. working age spaniards is shrinkina. ., ., ., shrinking. so you want to grow gdp and pay — shrinking. so you want to grow gdp and pay pensions - shrinking. so you want to grow gdp and pay pensions for - shrinking. so you want to grow gdp and pay pensions for all . gdp and pay pensions for all the retiring baby boomers. you need to grow gdp in a different way. because they will not be as many people, which unless we bring them in to immigration. spain represents a new life for these migrants. but their arrival could also mean a new start for the spanish economy. just before we go, a funeral

storage. china has hit back at the eu's decision to impose tariffs on locally made electric vehicles, saying it does not accept the move and has begun proceedings at the world trade organization. it follows the eu's decision to go ahead with duties of up to 35% after a year—long investigation into whether chinese ev makers received unfair subsidies. the tariffs take effect on thursday. the global success of the social media app tiktok has seen this man become china's richest person. he had a fortune worth almost $50 billion. he stepped down from his role as the chief executive of bike dance last year but is believed to still own around 20% of the company. tiktok has 1 billion active monthly users. sportswear giant adidas has ended its legal battle with kanye west ended its legal battle with ka nye west over ended its legal battle with kanye west over anti—semitic ka nye west over anti—semitic comments kanye west over anti—semitic

comments he made in 2022, which ended the sports brand partnership with his clothing line. on tuesday, the firm said it had reached a settlement with mr west, to end all legal proceedings. during the time of the dispute, adidas discontinued his collection and started selling of stock at wholesale prices. that's all for this edition of business today, stay with bbc news.

hey, i'm ruby with the catch—up. tonight — fake drugs, a living wage boost, and an ancient city makes a comeback. but first, anti—anxiety medication bought online has been linked to hundreds of deaths in the uk. anyone can try and buy this medicine, but it turns out what some people are receiving are actually synthetic opioids. yeah, they're called nitazenes, and they can be even stronger than heroin or fentanyl. experts are warning that it's difficult to tell them apart from the real thing. they look the same — same packaging, the colour will be the same. people might buy them deliberately because they want to feel the effects, or they might be seeking them out because they developed a dependence.

some other stories now. three million low—paid workers will get a pay rise next year, with the national living wage set to increase to £12.21 in tomorrow's budget. it makes finding a job that can pay the bills a lot easier. what it is at the moment, it's not enough. raising it up would make it easier for everyone. - and if you've ever felt bad for scrolling online when you're meant to be studying, take a look at this. a phd student has stumbled upon an ancient mayan city on a random google search. it's the first discovery since it disappeared hundreds of years ago. the city is about the same size as edinburgh, and it even has sports pitches. time now for ten seconds of perhaps the spookiest house in town — going strong for 20 years now in southend, can anyone beat this house where the owner has even created a ghost ship? all to raise money for charity.

you're all caught up now. have a good night.

hello and welcome to sportsday. our top stories. a step closer, sporting revealed manchester united want ruben amorim and are prepared to pay for him. bayer leverkusen avoid a shock in the german cup, with patrik schick helping them steam—roll their opponents. and off to a

winning start, cole et has no problems in paris. —— carlos alcaraz has no problems in paris. hello again, welcome to sportsday. barely a day after reports linking ruben amorim with the manchester united job, his club have made the approach public. sporting revealed on tuesday that united are interested in making him the next manager and are willing to pay his release next manager and are willing to pay his