Hello. Good to have you with us. I am sally bundock. Lets now dissect the top business stories. We start in the us where tesla has revealed the biggest slump in earnings in more than a decade as the road gets increasingly rocky for the electric car industry. Tesla made profits of 1. 1 billion in the first three months of the year. Thats a fall of 55 on this time last year. Revenues were 9 lower and both numbers were worse than investors had been expecting. But tesla shares which have taken a pounding this year jumped around 11 in after hours trade after the company promised quicker progress on new more affordable models. From new york, heres erin delmore. Its been a rocky road fit for this year. High Interest Rate that taking a bite out of consumer Purchasing Power and pushing big purchases out of reach. Competition with china especially over electric vehicle maker byd is heating up. Sales have been falling and so has its stock. It up. Sales have been falling and so has its stock. So h
Of protecting its Market Dominance in Online Retail at the expense of consumers and third party sellers. Our north American Business correspondent erin delmore has more from new york. Its a case that has been in the works for years, under the watchful eye of ftc chair lina khan, who made her name in the Antitrust World With A Blockbuster 2017 legal paper detailing amazons monopoly footing. On thursday, khans ftc struck its widest blow against amazon yet a sweeping lawsuit alleging the company stifled competition in its online marketplace. 17 statesjoined in. The lawsuit challenges a bunch of amazons business practices, including prioritising its own products in search results, ahead of ones by third party sellers, and anti discounting measures that ensured sellers list their lowest prices on amazon, and requiring sellers to use amazons network of Delivery Services as a condition of being included in its popular prime subscription service. Rivals, according to the ftc, just couldnt comp
britain s ecomomy is expected to have gone into reverse shrinking by 0.1%. and if that continues for the rest of the year two quarters of negative growth that would constitute a recession. the bank of england has raised the cost of borrowing to a 15 year high, to try to rein in soaring prices, and that s weighing heavily on many businesses and households. on thursday, official data showed a steep jump in the number of people falling behind on mortgage payments. our cost of living correspondent, colletta smith, reports. good morning, donna speaking, how may i help? with rates on the up, more people have been struggling to pay their mortgage bill. don t worry, i m sure we can get this sorted out for you. ..and an increasing number are now officially in arrears. you know, nobody wants to send debt collectors to your door. nobody wants that. that s not what we want. we want to help you, we want to get a solution in place with you, but we can only do that if you give us a ca
nvidia makes computer chips needed for artificial intelligence software, and demand for its products has boosted its sales and profits over the last few years. many investors believe its earnings can grow even more, which has caused its share price to soar, though some have questioned its sky high valuation. let s get more on this from our business reporter sura njana tewari. this was the story yesterday. take us through what happened to. , , . , , take us through what happened to. , , ., , , ., to. this is a big number for ou, to. this is a big number for you, 591,000%. to. this is a big number for you, 591,000%. that - to. this is a big number for you, 591,000%. that is - to. this is a big number for| you, 591,000%. that is how to. this is a big number for - you, 591,000%. that is how much nvidia s stock has increased in value since it went public in the early to thousands. now the chip company has surged its way all the way to the top of the stock market, dethroning anot
britain s manufacturers are beginning to see a recovery as demand in the uk increases and major markets begin to pick up that s according to a survey published today by the manufacturers organisation make uk. but while uk orders are rising, export orders have declined as businesses both in the uk and eu are yet to settle into the new uk eu trading arrangements. last friday the office for national statistics said uk goods exports to the european union fell by almost a1% in january, while imports tumbled 28.8%. the figures were the biggest drop since records began in 1997, and are the first since new trading rules between the uk and the eu came into force. so will exports recover? stephen phipson is chief executive of make uk. nice executive of make uk. to talk to you. start with your nice to talk to you. start with your survey, tell us how widespread it was and why you say the data gives you optimism about what is ahead? we say the data gives you optimism about what is ahea