a russian file administration. a russian file —— fine for google escalates to 16 under sicilian roubles. we will show you how many zeros that number has. as hello kitty turns 50 we will hear from the ceo about how he turned it into y1 trillion company. live from london, this is business today. we start with the latest on tech results as apple reported revenue growth ahead of wall street expectations. the overall picture sent the company shares down slightly by 1.4% in trading because of a modest forecast for sales especially due to expectations of a decline in china in the fourth quarter. much of their success hinges on the success of its ai product. apple intelligence has underwhelmed many since its launch. this week shares in microsoft and

matter also suffered due to the anticipated cost of ai in the year ahead. anticipated cost of ai in the yearahead. here anticipated cost of ai in the year ahead. here is our north american technology correspondent. american technology corresondent. , correspondent. apple has been lookin: correspondent. apple has been looking for _ correspondent. apple has been looking for a — correspondent. apple has been looking for a turnaround - correspondent. apple has been looking for a turnaround in - looking for a turnaround in iphone sales which have been pretty sluggish. iphone sales were up 5.5%, early signs of demand for the iphone 16 which came out in the final days of september, and this is such an important market for this company. apple iphone sales make up about half of their revenue. we also from the ceo about apple intelligence, a suite of tools that allow customers to do everything from write a better e—mail to cleaning up photos, generating movies with a simple promise. services came out this week and the ceo said on thursday that early feedback has been positive. there is one dark spot

for apple in this earnings report and that has to do with a judicial ruling in a europe that was handed up in september, this is all about the tax bill in ireland, apple having to pay 13 billion euros in taxes and interest resulting in a 35% hit in profits, for apple in his most recent quarter. joining me now is the vice president and principal analyst at forrester. there has been some scepticism about how much of a game changer the latest iphone model, the 16, would be. what did you make of what you heard in this earnings report? absolutely. thank you for having me. ithink, all things considered, this was a pretty solid quarterfor apple. many solid quarter for apple. many expected solid quarterfor apple. many expected iphone performance would be tepid at best but almost a 6% growth in revenue has been pretty good. iphone

revenue is the magic metric to look out forfor revenue is the magic metric to look out for for two reasons. one, as you heard, it makes up almost half of apple's total revenue, but second, the iphone is the gateway, the portal to apple's universe and once consumers enter that universe, they spent a bunch of money on other stuff, like devices and also likes services, so let's talk about services. services is apple's fastest growing revenue stream and based on performance this quarter, its annualised at about $100 billion and that is revenue coming in at 75% gross margin, so as faras coming in at 75% gross margin, so as far as services are concerned, apple has struck it out of the stadium, so all things considered, a pretty decent earnings quarter. when we talk about _ decent earnings quarter. when we talk about services, - decent earnings quarter. when we talk about services, we - decent earnings quarter. when we talk about services, we are | we talk about services, we are talking about apple health and

apple pay. but looking at its later services, apple pay. but looking at its laterservices, its apple pay. but looking at its later services, its latest faure, apple intelligence, what are your thoughts about consumers' reaction? —— forecast. consumers' reaction? -- forecast-— consumers' reaction? -- forecast. �* fl forecast. inaudible tim cook talked about _ forecast. inaudible tim cook talked about it _ forecast. inaudible tim cook talked about it in _ forecast. inaudible tim cook talked about it in june. - forecast. inaudible tim cook talked about it in june. he - talked about it injune. he said it would be a staggered rollout. a lot of people do not like to hear that but at least they know what they are getting. there is nothing really revolutionary about apple intelligence in that the things it has are found elsewhere now. it enhances the experience for apple customers. if there is one thing that guides apple's philosophy, is the customer experience is the

tougher side. the customer experience is the tougherside. still as the customer experience is the tougher side. still as term cook said, apple would rather do it better than do more of it. think of apple wanting to take the time and getting it right. yes, that means there is probably not a flood of customers rushing to upgrade and get the iphone 16 but when they do, this thing will work brilliantly. at least that is what apple's and tim cook's vision is. what apple's and tim cook's vision is-_ vision is. thank you for joining _ vision is. thank you for joining us _ vision is. thank you for joining us with that - vision is. thank you for - joining us with that analysis. my joining us with that analysis. my pleasure. striking workers at boeing are set to vote down a new pay deal. it includes a 38% pay rise over the next four years. the union representing more than 30,000 striking workers has endorsed the offer and says it will hold a vote on monday.

let's explore that. the pay increase being discussed is pretty huge. obviously, boeing needs its people to get back to work. what difference would a pay rise of this scale make to the company's future? i think the company's future? i think the first and _ the company's future? i think the first and most _ the company's future? i think the first and most importantl the first and most important thing for boeing is to get its workers back to work. otherwise, its future will look bleak. this is a pay deal being offered, already two rejected, but this one seems to be closer to the 40% level the union was looking for in the first place, at 38%, closer to that level, so as you said, it has been endorsed. this is encouraging because these workers have been on strike since the 13th of september, so this is a long

time that boeing has seen slowing production and it is in a deep crisis anyway. i think to talk about the future, we need to get the workers back to work and this seems to be a step in the right direction, but as you mentioned, this is a hefty pay rise we are looking at, so obviously, that will impact the profit we will be seeing at boeing, but we also have a lot of other things going on at boeing. there is a deep reputational crisis going on, so a lot of moving parts this company needs to be working on two really secure a more encouraging outlook. that reputational— more encouraging outlook. that reputational crisis _ more encouraging outlook. that reputational crisis surrounding the safety scandal involving its 737 max aircraft, its biggest seller. when you combine that with this labour dispute, the prospect of higher wages for worker —— workers in future, how are investors thinking about boeing now? we

have thinking about boeing now? - have seen a very steep decline in the share price across this year. year—to—date, the share price is down a0%. if we put that into this of, the s&p 500, for example is up 20% year to date and air bus is flat across the year. that gives us some idea of the extent of the loss we are seeing. following the news of this latest offer, we have seen share prices rise 2.7%, but that is minimal compared to the losses we have seen, but in order to get investors back on board, there are a lot of parts that need to be worked on. the first one will probably be getting the workers back into the factories and the workers working again. indeed. thank you for that. the boss of one of america's biggest energy technology companies has told the bbc

hydraulic fracking for oil and gas better known as fracking is still necessary. fracking is an important issue in the us presidential election and lorenzo similarly spoke to our north america business correspondence. fracking has been instrumental _ correspondence. fracking has been instrumental in - correspondence. fracking has| been instrumental in changing the production from a north america perspective and has been a technology advancement. it is necessary as you continue to look at production. it will be a responsible fracking that needs to be in place. we see it as one of the key enablers, though, to continue to provide production in north america as you look at the shale opportunities and as we go forward, the potential to increase production. we forward, the potential to increase production. we have a us presidential— increase production. we have a us presidential election - increase production. we have a| us presidential election coming up, us presidential election coming up. the — us presidential election coming up, the trump campaign, to ease

regulations. kamala harris has abandoned her previous support for fracking ban pistil a commitment to clean energy. what — commitment to clean energy. what outcome will be best your business — what outcome will be best your business in the election? we think we --as _ business in the election? we think we --as we _ business in the election? - think we ——as we get into a new administration that will take that into consideration and also consult with the industry on what is appropriate and we take a balanced outlook on working with both and having the best outcome and we think again there is a natural need for an energy increase as we go forward and either party is going to have to meet that demand by putting in the appropriate measures. hoof demand by putting in the appropriate measures. how are ou appropriate measures. how are you looking — appropriate measures. how are you looking at _ appropriate measures. how are you looking at the _ appropriate measures. how are you looking at the transition . you looking at the transition away— you looking at the transition away from fossil fuels and how are you — away from fossil fuels and how are you managing those goals? i think_ are you managing those goals? i think about this in the light of the _ think about this in the light of the election coming up and the potential policies that could _ the potential policies that could be in place.- the potential policies that could be in place. this is not about reducing _ could be in place. this is not about reducing energy, it is| about reducing energy, it is about reducing energy, it is about energy expansion and the transition is made of and all

of the above strategy. renewables will grow. at the same time renewables will not meet the demand from the increasing population and also increase in appetite to use energy. we need to look to natural gas, need to look to lng and as we look to 2020 to 2040, lng and as we look to 2020 to 201i0, we see energy demand increasing by 10%. we look at natural gas increasing by 20% and lng increasing even higher than that. natural gas is an opportunity over the next two decades to help us because we go forward in reducing emissions.— go forward in reducing emissions. ~ ., , emissions. where do you see the oil rice emissions. where do you see the oil price heading? _ emissions. where do you see the oil price heading? we _ emissions. where do you see the oil price heading? we look- emissions. where do you see the oil price heading? we look at - oil price heading? we look at the oil price _ oil price heading? we look at the oil price being _ oil price heading? we look at the oil price being range - oil price heading? we look at l the oil price being range bound and if you look at where we are today, hearing that $70—$80 range, and we think that is a range, and we think that is a range bound that most people

are comfortable with and without a major shock, it should stay range bound as we go forward. if should stay range bound as we go forward-— go forward. if we look at ener: go forward. if we look at energy demand - go forward. if we look at energy demand coming l go forward. if we look at - energy demand coming from data centres _ energy demand coming from data centres and ai, that is massive and also rapidly increasing, so how— and also rapidly increasing, so how do— and also rapidly increasing, so how do you see that? is that an opportunity? are you perhaps set to— opportunity? are you perhaps set to work with other companies, tech companies, in the al — companies, tech companies, in the ai sector? as companies, tech companies, in the ai sector?— the ai sector? as you said, this increasing _ the ai sector? as you said, this increasing use - the ai sector? as you said, this increasing use of- this increasing use of generative ai is driving a need for data centres and also distributed power generation because the grid today is not stable enough and there is not enough coming from the grid. we have the opportunity to provide power generation on a dispatch basis, the opportunity for geothermal, the opportunity to work with developers on providing these microgrids as well and we see significant

opportunity going forward. one anecdote to give you if you look at some of the studies with what we're seeing as an in electricity demand by data centres alone, it will match the total consumption of japan from an energy perspective and thatis from an energy perspective and that is a significant growth. we are expecting us jobs data later today. the us labour department... labour market, i should say, has shown signs of cooling down with the unemployment rate rising by 0.7% so far this year. this could mean we see interest rate cuts from the federal reserve to try to boost employment, but there are ongoing risk factors such as the conflict in the middle east and ukraine, making the next steps how to predict. separately, a new survey by linkedin suggests the labour market is changing with 10% of workers hired this year having job titles that simply did not exist in 2000. top of the new

job categories, existing jobs also changing. link ten date has found the skills needed for jobs will have changed by 70% between 2016 and 2030. —— linked in. let's cross to california and speak to the chief economist of linkedin. thanks forjoining us. let's talk about the employment situation. hiring in the us unexpectedly in september, payrolls coming out on friday morning, and what are you expecting to hear from the october dato?_ expecting to hear from the october dato? ., , ~ , october dato? that is right. my tomorrow friday _ october dato? that is right. my tomorrow friday morning, - october dato? that is right. my tomorrow friday morning, we l tomorrow friday morning, we will find out what about�*s job market look like and it is unclear. the consensus is somewhere around something like 125, 160,000 somewhere around something like 125,160,000 net somewhere around something like 125, 160,000 net new somewhere around something like 125,160,000 net newjobs to be created but the truth is we have had two hurricanes and a

very significant strike in the us and so that could make the whole data picture murkierfor us so it is hard to know and if we get a particularly weak number we will not be sure if it is attributable to those factors i mentioned. let's look at our factors i mentioned. let's look at your survey- _ factors i mentioned. let's look at your survey. what _ factors i mentioned. let's look at your survey. what are - factors i mentioned. let's lookj at your survey. what are these new jobs that at your survey. what are these newjobs that did not exist in 2000? ll new jobs that did not exist in 2000? ., ~ , ., ., ., new jobs that did not exist in 2000? ., ., , , 2000? it makes a lot of sense when you _ 2000? it makes a lot of sense when you think about - 2000? it makes a lot of sense when you think about the - 2000? it makes a lot of sense l when you think about the larger trends driving the economy and the labour market there are two of them. one has to do with climate chains and a lot of new sustainabilityjobs. one of the fastest growing crops in the uk is sustainability manager and we see that in the us as well. —— change. we see a lot of that here, around sustainability and green energy. that is one of the jobs. green energy. that is one of thejobs. you think green energy. that is one of the jobs. you think about the other big transformation across our economy in the last few

decades, technological. a lot more data is available, so a lot more data, architectural state, analyst roles and especially data scientist, a relatively new role in the last couple of decades.— couple of decades. those are aood couple of decades. those are good examples. _ couple of decades. those are good examples. nearly - couple of decades. those are good examples. nearly half i couple of decades. those are i good examples. nearly half the professionals you surveyed are worried about lifting and that being left behind in their career because the way work is changing. are they right to be worried? i changing. are they right to be worried? ~ , ., , worried? i think it is always fair to tell _ worried? i think it is always fair to tell people _ worried? i think it is always fair to tell people your - fair to tell people your feelings are valid. there is al anxiety out there and i think it is right to be alert to what is going on to stay current because it is a competitive labour market. the labour market is different than it even was two years ago. there are fewerjobs and more people competing for those jobs. are they right to be anxious? probably, but on the other hand, there are many things they can do to prepare for this moment of change we are going through and those are things

like getting familiar with new technology, up—skilling yourself gradually. it is not a case there are no options. thanks for that. around the world and across the uk, this is bbc news.

the you are watching business today. the two—year—old find by russia on the google and youtube owner alphabet now stands higher than all the money in the world. it is in response to google's move to block russia. it paused

monetisation of content which it deemed to exploit, dismiss or condone russia's war in ukraine. injuly that year russia fined google 2.1 billion roubles forfailing to russia fined google 2.1 billion roubles for failing to restrict what it called prohibited material about the war in ukraine and other content. that figure has since escalated, multiplied today, friday, the first of november, it stands at 16 - first of november, it stands at 16 — here is a new word for you i6 — here is a new word for you — that is 16 with many zeros after it. that is 160 billion trillion trillion dollars. a lot of money, maybe too much for google to find on the back of the sofa. google is worth just $2.1 trillion. even the

kremlin concedes it is a big sum. ~ ,, ~ ., sum. translation: i cannot even ronounce sum. translation: i cannot even pronounce this — sum. translation: i cannot even pronounce this number _ sum. translation: i cannot even pronounce this number but - sum. translation: i cannot even pronounce this number but the - pronounce this number but the amount is for symbolism. actually, these demands, they demonstrate the essence of the claim of our google channels. google should not limit the actions of our broadcasters on its own. in actions of our broadcasters on its own. , , ., , its own. in russia, there is virtually — its own. in russia, there is virtually no _ its own. in russia, there is virtually no press - its own. in russia, there is virtually no press freedom| its own. in russia, there is - virtually no press freedom with independent news outlets and freedom of expression severely curtailed. google has not commented publicly or responded to a bbc request for a statement. there is no sign of this bill on its balance sheet. the spine is not new but the size of it has hit the headlines due to the absurdity of the figure and the kremlin's no chon the underlying issues. with some confidence, we can assert this fine will remain unpaid. more than 90 brand—new cities are being planned and built around the world right now to deal with a growing population and people's desire

to live in urban areas. in this week's talking cat business, we spoke to stephenjennings, whose company is building seven of those, including in africa including the flagship city located just outside of nairobi in kenya. we asked him how he funded the multibillion projects given the risks and long—time lines involved. funding as you can imagine is a fundamental success factor, so we started with a lot of very long—term capital, and we took the view somewhat co ntroversially the view somewhat controversially at the start we did not want any leverage. that absolutely proved to be the right decision, so it took a bit longer to get momentum and get critical mass but it meant financially we have been very robust. ., , h robust. you can see's full interview _ robust. you can see's full interview on _

robust. you can see's full interview on this - robust. you can see's full interview on this week's i interview on this week's talking business on bbc news. did you know that hello kitty turns 50 today? it is a japanese icon. the creator has cemented its position as a trillion yen company. that is more than 6.5 billion us dollars. it was losing money but a new ceo took over and changed the story. mariko oi sat down with the ceo to find out how. meet one of the best loved creations, hello kitty. as she celebrates her 50th anniversary, she even got a birthday wish from... a very happy birthday to hello kitty.

sanrio is the company behind hello kitty and all the other characters, but despite the popularity, the firm was struggling to be profitable until the new chief executive started in 2020. he took the top job at the age of 31, making him the youngest ceo of a listed company injapan. how did he turn it around in a society known for its emphasis on seniority? translation: it would be a lie if i said there was no push - back. but to reform a 60—year—old company, we could not change based on what we already knew. i've noticed a lot more promotions or collaborations of sanrio characters even in singapore in the last few years. did you change your overseas marketing strategies? translation: one of our | business models is licensee business. it has become the core for our overseas strategy. we get paid royalty and in return our characters get the exposure in the market. there's an advertising effect. but as a result, hello kitty with whom in a strange coincidence

the ceo shares the same birthday today, has lost the top spot as the most popular character. translation: in terms of sales, hello kitty is still our _ strongest character. cinema roll is the most popular but when it comes to character recognition and the searches for history, they were both created by hello kitty. the issue was they were not sustainable which meant high volatility. that is why we decided to create and market other characters to reduce the volatility. even if the boom dies down, the new characters can cover it. it is not about lowering hello kitty's popularity, but about boosting other characters' recognition and popularity. the revamp has paid off, transforming the company into a tillion—yen house of characters. hgppy happy birthday, hello kitty.

let's ta ke let's take a look at the markets. a survey of small manufacturers suggesting things are looking better for that sector but the overall mood being set in the us where technology stocks have been driving markets lower after several earnings reports in russia earning reports about the costs of ai. that is business today. stay with us here on bbc news. hello there. our quiet weather story continues but that has its own problems at this time of the year with mist and fog. this is how we closed out oxfordshire on thursday evening, and that fog has become more dense and may take its time to clear — that's because we've got light winds under this area of high pressure. a slightly different story further north and west. we do have this weather front. it's been bringing some rain as it continues to move its way steadily southwards. the winds will fall light but they are swinging around to more of a northwesterly,

so it will turn noticeably colder as that rain starts to push its way steadily south. so, rain to start the day in the far north of scotland. a cloudy, murky, misty, foggy start across parts of england and wales. gradually, the fog will lift into low cloud. we'll be chasing sunny breaks from time to time but the weather front will weaken as it continues to sink its way steadily south. behind it, it turns briefly colder — 7—9 degrees in the far north of scotland. elsewhere, similar temperatures to the last few days — between 1a and 16 celsius. that cold air, though, is going to be pushed out of the way over into scandinavia as the high pressure drifts its way steadily eastwards. so, into the start of the weekend, we could pick up a little more in the way of cloud and drizzle along the east coast but further west, we'll have some drier weather. again, there'll be some cloud around from time to time and some brief sunny breaks but those temperatures still generally around 11 to 15 degrees. now, as we move out of saturday into sunday, there is a greater chance of the high pressure

drifting a little bit further south and east. the subtle change in wind direction will drive in some slightly drier air and that basically means, hopefully, there'll be more in the way of sunshine around, particularly in central and eastern areas on sunday, so not a bad day in prospect. again, no significant rain in the forecast. and in the sunshine — yes, it is drier air — those temperatures might struggle in comparison to recent days but still, 11—15 degrees is still not too bad. now, looking further ahead — that high pressure is set to stay with us and, in actualfact, monday we continue to see more in the way of sunshine. but by tuesday, a return, potentially, to some early morning mist and fog. take care.

good morning, welcome good morning, welcome to breakfast with charlie stayt to breakfast with charlie stayt and naga munchetty. and naga munchetty. our headlines today. our headlines today. troops are deployed to help troops are deployed to help in the rescue mission in the rescue mission after devastating floods hit spain after devastating floods hit spain killing at least 158 people. killing at least 158 people. the authorities say many the authorities say many more are still missing. more are still missing. iam in iam in i am in valencia where the clear up i am in valencia where the clear up operation is under way but doubt by operation is under way but doubt by

the locals the locals about how long it took the locals about how long it took the authorities to warn them floods were coming. gps, care homes and hospices voice concern over the impact of higher