next month that's becoming ever more likely with the fed describing the economy as solid supported by mehta factoring and labor strength and the central bank is playing down the economic impact of recent hurricanes another sign it's on track to lift borrowing costs again. yes what is the likelihood of a rate rise next month. well we might see an interest rate increase in december it's tough to really put a percentage bet on it but it is really likely especially if the u.s. economy keeps to improve as we see it right now the labor market seems to be pretty strong if you look at consumer confidence we are at the highest level in about seventeen years and specially was the holiday season coming up that is probably consumers also will keep spending we just saw for a second consecutive month g.d.p. so the u.s. economy growing by a good three percent so if that pace continues it is pretty likely that we will see the next interest rate increase in december and then maybe some more steps next year ok thank you very much for your analysis from new york and. janet yellen as rights announcement today

and i do think that the walls of key been a bit and for companies like mehta, i mean they're sort of looking at opportunities now to monetize that you could have churn from a subscriber perspective. but i do believe this is maybe a changing the times. how do you think uh, facebook and instagram users are likely to react? i mean, this service is app and free since they hit the market. and facebook, for example, repeatedly has been saying it will remain a free service to. yeah, well i think it's also possible facebook would have a lower subscription fee just i think there's a lot more ensuring that can happen there. but instagram, especially in certain demographics, when you think about younger generations, or maybe you instagram like eating and drinking. and then instagram, right, and then i phone. so it's become that important in terms every day. i think meta and dr. burke understand the churn, the bar could be worse and the by, and i think it's experimental to what they're seeing. you maybe if, if it's successful here, it's something we can see in the us as well as global and. 3 do

to fully know, mehta says that so far there is no disruption to its services in europe. so for example, facebook and instagram on, but there are several months in which it can implement this decision. now the european union has said in the last couple of hours and it said that it will be looking to try to secure a new do, or even us state to transfers with the us before the summer. so within the next few months, but it does mean that this kind of hangs in the balance here. and what we're seeing overall is a tension here, and you're between protecting users data on, of course, and of course, creating a stable environment for tech businesses. all right, rosie bershard in our process bureau helping us understand that new fine against matter. thank you. which one is regulators bound to band? some domestic purchases of chips made by us for micron technology. as big gene continued to register its displeasure over the outcome of the latest g. 7 meeting regulator saying us company failed a security re review, excuse me, beginning earlier this year. and it badging would now prohi

brussels cracked down on tech has facebook honor mehta threatening to shot in the you fall google battles and in your new lawsuit and the block. also coming up the e. u is scrambling to secure its energy supply as tensions rise of cheese, the fire russia. well, american gas come to the rescue and we'll take you to costa rica. we're in inconclusive weekend election is adding to political gloom and what's long rank of latin america, happy as country. i'm chelsea, delaney and berlin. welcome to the show. social media giant meta has warned it could shut down facebook and instagram and europe. if it is forced to overhaul and data privacy practices. the company said monday it has no desire or plans to pull services from europe. after warning, it would be quote, unable to offer facebook and instagram and the block without a new deal, allowing it to transfer user data to the u. s. the dispute is part of the use broader regulatory cracked out on big tech. google is also under the microscope and on monday was sued by swedish price comparison site price runner, the $2100000000.00 euro suit a legend.

get a step ahead with the w business beyond on you to ah, mehta crashes on wall street and brings a big chunk of the tech sector down with a whopping 26 percent loss for the session. that's more than $230000000000.00 in los valued. did the tech giant numbers merited or did they touch a nerve among investors? also on the show stubborn inflation spurs europe central bank to open the door to earlier tightening measures. what are the, these options when energy costs are behind the price hikes and vendors and beijing are going for gold with a lift merchandise, but bracing for disappointment. hello, welcome to the show i'm seeing fiercely and berlin could have you with us. shares of facebook owner meta plunge more than 26 percent trading on thursday, knocking more than $230000000000.00 off the company's market value and pushing tax docs to broad losses. it's the biggest one day fall of any u. s. company on record. chief executive mark, soccer bird had worn investors in a colon wednesday that met it, expected revenues to decline during the 1st quarter of this year, due to competition from riva

the axis falling in big tech facebook parent company mehta is laying off 11000 people about 30 percent of its workforce meta struggling with faltering or revenue and broader tech sector was ceo's. arkenberg says is over optimism about growth lead to over staffing layoffs at meadow, which currently employes $87000.00 people, or just the latest job losses in silicon valley. twitter, microsoft and amazon are also shedding head count. earlier i spoke to alicia garcia, herero asia pacific chief economist at the texas investment managers, and i, after what had gone wrong, had matter for so many people to lose their jobs. well, this is because met that really. i mean that the, the, they made a very you mostly aggressive bed on the metaphors and, you know, that happened really realized in the way they thought it would end up very important. that is happening to midtown. is that in a way to vision or is the submission of the company? so beyond the met covers, the also try to compete with their was their current this of their well, if you remember with libra and you didn't work either, you know,

billionaire don young creatin ski has now bought a stake in the troubled company but it's not clear whether mehta agrees with him on the need to change metro is the world's third largest retailer but it struggled in recent is now though check invested quittin city has set his sights on it kryten ski already owns seven point three percent of metro shaz and has an option to buy further interests executives behind the equity sale secretive ski's involvement as a boon. that it wasn't an emo he has experienced growing his own business and he has expertise in the media and retail sectors so we believe this will work very well for metro. daniel quittin skee is one of the czech republic's wealthiest citizens his business headquarters are on prague's famous prisco street getting an interview with him though proves impossible. instead critically prefers to appear on sparta progs house sports channel he's the football club's chairman pretends he made most of his money in the energy sector but he also has a stake in the czech republic's most popular tabloid blessed as well as a minority share of french daily

after nearly 20 years of defending a free service model, mehta is switching gears. the company says the service is largely aimed at content providers. the war in ukraine caused the german, a g, d p, in nearly 2.5 percent last year. according to the german institute for economic research, that's equivalent to 100000000000 euros. one of the reasons that europe's industrial powerhouse has been heavily effected is because germany was previously heavily dependent on russian energy exports. in the face of western sanctions over the war and ukraine, russian authorities have revived a soviet era brands, including the emblematic comma bicycles and mocks which cars. the aim is to be self reliant after many western companies shot down their manufacturing sites and rush up. but if you look beyond the branding, you'll discover russia is struggling without foreign inputs. i russia is celebrating the come back of the mosque, which one of the major soviet car brands. this one is just rolled out of a car plant near moscow, abandoned by renault. they come with a combustion engine and

and facebook parent company mehta has reported its 1st ever drop in revenue. is quarterly profits also shrank for the 3rd quarter in a row, unless blame increased competition from tick tock and lower advertiser revenues for the drug as well. and if this is that germany has agreed to sell ukraine, 100 tanks and a deal worth one point. 7000000000 euros tanks will be produced by 2 german companies coast. my 5 bakeman and i'm retired, but the equipment won't be delivered before 2024, making it unlikely for them to be deployed during the ongoing war. russian ties with former allies in the west are in tatters over its invasion of ukraine. russia is naturally looking elsewhere to do business. that's where a new trade route with india comes in with both countries hoping to speed up bilateral trade. however unfair it might be, it seems that what's europe's loss could be asia gain. russia has been cut off from trade with the west. the sanctions imposed over its war against ukraine or hitting rushes economy. bloody may putins government lacks revenue from exports like oi

and has been in the defacto standard in terms of monetizing social media, ad revenue, facebook and mehta have the scale of users and as long as threads is able to reach a point in which there are is a mass user base on the platform. then threads will likely monetize through ads. the problem in the struggles that twitter has had for so long is that when you compare the size of it's the social network compared to that other platforms, it is one of the smaller ones. all right, but i want to look at the united because price is not launching here, essentially because there are issues with privacy. how is tries different from the likes of instagram or facebook which can be access here? threads because it is an offshoot of instagram, isn't that different in terms of the data collected, but it is a lot of data that's being collected on individual users. and when we pulled users in the u. k. us and canada about their reluctance to join threads, privacy and consumer privacy and usage of personal data, really pop to the top of the charts. and so what threads has to contend with are the updated or n

for example, mehta had its 1st decline in revenue in its history as a public company. and the see is maybe we'll see a continuation of ad revenues declining, as well as a demand shifts from the consumer from e commerce, from tech products that we saw earlier in the pandemic, towards more services. and of course, the cost of fuel is expected to hit the bottom lines of vehicle makers and travel companies to yeah, we're going to hear from southwest jet blue general motors for now is for airlines . it does look like there's some resilience there. we saw american airlines did quite well record breaking revenue. it does seem like americans are going on vacation. they are taking those flights. now, automakers, it's a little bit different expectations are lower because of the cost of fuel because of continued supply chain snarls. but they are insistent that demand is still high and that their profit a guidance actually hasn't been cut for the year. okay, so it's gonna be a busy week ahead and teddy, you will be walking this through that. thank you very much for that from new y

shed as many as 10000 positions in the coming days following similar measures by competing companies, mehta and twitter, amazon employers, 1500000 workers around the world. now these tech titans are pointing to overhead costs as a reason for the layoffs and analysts say, a lot of this has to do with lessons learned from the last recession. a lot of these companies spend like 90 rockstars the last few years and post curve it growth hang over a recession on the doorstep. you're started, she caught and need to be caught at the businesses. i think a lot of our com shop projects are non strategic areas. now you're starting to see cuts in those areas. i think these companies, managing teams are being proactive because if you go back to last recession or they may be, some were not quick enough to pull the trigger. and here they need to ultimately caught, you know, catch because that's really what she wants to sing. one country would show this wave of job cuts is particularly crashing into is india, twitter cut to half of its workforce. their education technology firms by you and unit unit academy

and others of course come along for the ride and then number one after apple presumably would be mehta. that's gonna be interesting. see what happens when it hits the shelves. laws helps from your business. thank you. now let's take a look at some of the other business stories that are making the news. you don't, mux brain and planned start of your link is now with nearly $5000000000.00 based on privately executed stock trades analyzed by voices. the company recently received us approval to test its technology in humans. express how the product it's going to take several years when you are links to have a commercial product ready. the attorneys factory orders unexpectedly filing april by north point 4 percent. it's another blow to yours, last economy which ended a technical recession. last quote to slow down was especially no spot in machinery and equipment manufacturing. and we're also few of orders the ships, trains the aircraft, gemini, needs nurses. it's perhaps one of the most pressing aspects of an overall skill is shortage here. that's why certainly on the mind of japanese forei

these hiring freezes, laying off workers like mehta, but across the economy there are tons of vacancies for jobs, almost double the amount of the workers. but really, there are some workers who are more vulnerable than others. for example, there's a lot of foreign workers who come to the u. s. to work in the tech sector. they are going to have trouble with their visa for their residential status. so not everyone is getting affected by these layoffs evenly or the city austria taken us through those tech layoffs and very much we go now to some other global business stories, making headlines. new car registrations fell across europe for 2022 with just over 9000000 new vehicles taking the road almost 5 percent less than in the previous year. and that's after some government subsidies for e cars and hybrid plugins. ran out. and car makers had to slow down production due to supply chain problems. black panther walk, honda forever is the 1st marble film to screen in china after a 4 year ban. the number of foreign films allowed in china is already restricted, but the communist parties propagand