one day after a facebook parent meadows valuation fell by a record $237000000000.00. amazon is on track again, almost as much in market value thanks to and nearly 20 percent stock rally. and after hours trading. that's after the e commerce giants that it's profit double from a year earlier to $14300000000.00. the earnings rise comes just as amazon prepares to hike its prime subscription prices in the u. s. amazon serge bucks a trend seen in the wake of net it's fall where a number of tax stocks are heavy losses. now let's get more on this from our report. robots who joins me in the studio. so rob, we've seen really the big, big differences and the performance is facebook, amazon. what's behind that? yes. a real tale of 2 tech giants. amazon has got its own problems, you know, problems that are being seen by all sorts of companies and have a supply chain problems and such. and actually, amazon is also seeing it's growth slowing. it really well at the height of the

pandemic when people were locked in at home and, you know, they, all they were doing was just ordering offline and getting stuff sent to them. but since people are been asked about once again and started to see that slow down, but it's made up for any pitfalls with really good performances in other parts of its business. for example, it's ad sales have risen by about a 3rd during the last quarter. what, what amazon does, it allows brands to pay extra so you can see their products 1st, when you sit on amazon's website is also seen as cloud computing business day. very well that's going by 40 percent during the last quarter. and that's really one of the big engines of new growth for amazon. it's behind, you know, netflix is website mcdonald's website. there was during that day so on amazon's service. so that's all making up for the, the real problems that we're seeing at amazon in terms of its growth, sorry for amazon, also is preparing to hike the subscription price for prime. what is driving that?

and well, i mentioned the challenges that amazon is facing and it's really trying to spend its way out of those problems. for example, there's a real recruitment squeeze in the united states. companies are struggling to get people. amazon's laid its money down has been offering a signing on bonuses. try and get people to come work for it. also the supply chain problems that i'm talking about. mean that delivering goods to people at the sort of pace that people expect from amazon has been tricky. and it's been spending more on deliveries to try and make up for that problem and to take on the extra costs the it's facing. it's now looking to it's millions of prime subscribers and it's increasing price is just in the united states, an extra $2.00 a month or an extra $20.00 per year. is hoping by doing that, that it can start to claw back the extra money that is having to spend elsewhere. and amazons raised its prices before it raised them 4 years ago. and the 4 years ago before that didn't see too big a drop off and subscriptions as a result of that and is hoping that this time, you know, overall it will pay off. all investors obviously seem quite confident in this

strategy with amazon, basically on track to gain a fortune today. facebook, other tech companies not doing as well. does it still makes sense to refer to all of these companies as big tack? is there really a diverging field here? well, i think you group big tech at your peril on the think the fortunes of meta and amazon over the past 2 days of really showing that the differences in how they operate that makes the difference that keeps one of them. a soaring surprise and the other want to see that absolutely plummeting, but we've had another good example of it as well over the past couple of days. so snap, which snapshot that messaging service where the message disappears after a certain amount of time when facebook posted these disappointing results or other matter did. shares in a snap also took a hit. people thought, well, if it would be, if it's bad news or facebook, it's probably bad news for snap as well as social media, but then it's not came out with its 1st ever quarterly profits. and after that, it shows sword by 58 percent. chris, it's it's, it's different to facebook a,

the isn't facebook. so in all the areas where facebook struggling, snappy, seeing it's uses grow, it's also not getting the tick tock effect that facebook's getting, particularly in in india with tick tock, you know, is banned. snap is growing really fast, so that's an example of how you can't group even social media together. so you certainly can't group old big tech boots robots from 2 to even us. thank you so much for being here. now to some of the other global business stories making news bass and p 500 experienced it's worst day since february 2021 on thursday with the 2 for point 4 percent fall largely driven by plunging tech stocks. the sell off led by metas record collapse, was also evident on the tech heavy nasdaq, which last 3.7 percent. the u. s. automaker ford reported nearly $18000000000.00

and net profit for 2021. despite ship shortages and manufacturing slowdowns income was boosted by it steak and electric trucks. started river in the earnings fell short of market expectations, however, and shares fell nearly 4 percent fein socialist flood. government has achieved one of its major labor reform goals by mistake. a single vote was cast by a member of the opposing party. in error tilting the tight vote in favor of giving a quarter of the country's work for stronger employment protection by law. the vote cannot be reversed. now the winter olympics are officially opening on friday in beijing, but it comes amid a resurgence of co 19 cases throughout the country. the timing is bad for businesses that we're hoping to cash, and on the games, they could face a prolonged period of uncertainty and the months ahead at this sports store, just a stone's throw away from beijing spurts nest stadium, rex,

filled with winter gear, featuring the chinese flag businesses are hoping national pride will help boost sales in the run up to the winter olympics or to laser hackery. overall, it's good but things may become uncertain. anyway, now business is mostly done online. digital was the big concern for brick and mortar retailers, in particular, is the resurgence of coven 19 that's put the chinese capital on edge authorities have imposed fresh restrictions on people traveling to begging visitors need to take a nuclear test within 72 hours of arriving organizers of the game also announced last week. the tickets won't go up for sale to the general public, meaning fewer visitors are likely to come, despite not having to rely on foot traffic. online retailers are struggling to government data, showed consumer spending on physical goods,

which accounts for the bulk of e commerce grew at its lowest pace on record. in 2021. china's locked downs and other pandemic controls have cast a shadow of a consumer sentiment. and economists sworn that the high transmissible, etc of the armor chron variant means tougher and more frequent. cobit restrictions could be in store. recently, beijing reported it's 1st locally transmitted case of the amazon strain as authorities step up efforts to prevent its spread. businesses banking on a boost from the winter games may be left disappointed. still, china is high in the event as a long term driver for growth. at this factory and juncture cohen her of a province, which will host some of pin competitions, workers churn out about a 1000 pairs of ice gates a day. it's located in the purpose built park for sports equipment, set up 2018. nearly all of the goods manufactured are exported overseas. the

city hopes the games will raise its profile as a center for the winter sports industry. the madonna, we're still emerging in the future. we should increase infrastructure and construction strength and investment attraction, and attract and cultivate more industrial projects to settle in the park. despite the challenges that have come with recent outbreak of cobit 19 overall effect, the reproduction in china has remained resilient. but to keep factories like this, gliding ahead, they'll need to avoid disruptions brought on by china's tight pandemic restrictions . fabian crutch mar who authored that report is with us now. fabi in the olympics, are officially an opening today, and of course, coven 19 is hanging over. all of this does do beijing's containment strategies seem to be working so far? yet was in the bubble. i guess you could say. so am, i mean, but still they are more than 300 cases from incoming travelers or participants of

the olympics. m some half tested positive at the airport and, but some have later tested positive when they were already inside the bubble. but the safety concept is quite a severe am for example, daily testing, but also are plenty of current in facilities. and also a lot of um, service roberts to minimize the human to human contact. and it has prevented a large infection cluster within the bubble. but also in that was the purpose of the olympic bubble. it has a prevented infections from spreading to the rest of the population. and the daily numbers within the 1400000000 chinese people is roughly the same as with indo limping bubbles. so yeah, the numbers are quite low. sariana in your report, you mentioned and businesses and how they feel about this. at the tokyo and facts last summer, businesses actually did see increasing sales even without foreign visitors, thanks to a lot of enthusiasm among local customers. is that olympic fever heading shiny at

well, i'm rather pessimistic or, i mean there will be, am yeah, partial growth for some sponsors, for example, until sports. it's the clothing brand for the olympic team. they will probably benefit from it. the ski resorts, i mean that's a winter sport, the boom, and that will be a benefit. but in general, the i'm, i think it's rather plea because you have army. kron lingering around the threat of omicron in a 0 covert country is so they are trouble restrictions in place at people really only trouble when it's absolutely necessary. and the domestic consumption is also really not a great at the moment. and most of all, i mean during the a 2008 olympics yet, and paging you had for example, lot of olympic fever em. but now i don't notice any of that for to give you an idea . and people are talking more about the recent football team loss against vietnam of the chinese team, and not so much about the opening ceremony. so it's really not a big topic here for family and just briefly these olympics are also being

boycotted diplomatically by countries like the you asked you to china's human rights policies. will that take the shine off of this? for fishing were for the leadership. it's basically disturbing, i mean, they want to pro, propagate the message that m. yeah, the rising china is here, am opening to the world. but of course the boycott them tells you a different story. however, here there's a lot of censorship and the population doesn't really know much about it at all. i didn't catch my thanks so much. now, earlier we brought you news of more massive profits at amazon. well, one of the ways founder jeff bezos is using his wealth is making waves at the dutch port a broader damn gigantic yacht. reportedly being built for the amazon founder is so big that part of a historic bridge is such to be removed to let it pass. local officials say the middle section of the crossing will make way for the vessels,

40 meter masts. when finally takes to the seas, it will be the biggest sailing yacht in the world. and that's all for me and the business team here in berlin for more from us, check out our website, w dot com slash business until next time. take care with living more harmoniously with nature needed submitted to an it guy. jetta

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ah ah, this is david news live from berlin, russia and china joint forces to oppose nato expansion. let me put in trouble. some asian for talks with g j. peg ahead of the olympics. both adults with the west, the 2 leaders signal close of ty is ahead. also on the program. european union joins germany in condemning russia's decision to ban deutsche avella w's moscow bureau is forced to shut down in retaliation from russia's fate broadcast.