We start with japanese conglomerate softbank which is well known around the world as a savvy investment giant. But its reputation for making winning bets on start ups has taken a knock with the near collapse of the the shared working company wework. Softbank was forced to provide an embarassing bailout and is expected to announce stricter measures on founders when it reveals its latest Financial Results shortly. Vivienne nunis reports from new york on softbanks latest challenge. From hot property to a humiliating bailout. Office sharing firm wework faced a cash crunch until softbank came to the rescue. Now they will be looking at how much damage wework has caused to the bottom line and what it plans to do next. There are things that they might want to try to shrink the company a bit, grow a little more slowly, and focus more on the profitability. You have gone from a 47 billion valuation to Something Else of 8 million valuation. Things have happened very quickly, i think that softbank
That will only fuel the debate about about the power of the network and the content that appears on it. Lets show you some of the details. Facebook made profits of 4. 71 billion in the three months to september, up 80 on the same time last year, as advertisers spend ever more cash. Well over two billion people log onto facebook at least once a month, more than a quarter of the worlds population. Its up 16 over the past year. With this vast reach of course comes growing scrutiny, for example, over its role in the us election. Earlier in the day, facebook admitted to a congressional hearing that political content originating from russia was seen by 126 million people, a huge chunk of the electorate. Its chief lawyer said the company was sorry and would learn from its mistakes. None of this has put investors off. Facebooks share price has hit new record highs this week, valuing the company at over 530 billion. It pains us as a company, it pains me personally to see that we were. That our
Will open skies stay open under President Trump . Us Airline Bosses take their grievances to the white house today. Top of the list, their fast growing rivals from the gulf. Plus hail to the tweeter in chief. Could the president s love of twitter stop the rot for the struggling Social Network . Welcome to World Business report. Some of you are going, what is he doing, it isnt even friday . I will tell you what, give me a minute and i will give you a snapshot of the world of business and money. We start in washington, where the bosses of americas top airlines and airports are due to meet President Trump in the next few hours. There are some major issues on the table that could affect the global aviation industry. As we know from his inauguration speech, mr trump said he would follow two simple rules. Buy american and hire american. That could mean a major boost for boeing. If he leans on us airlines to buy from them. But its not as simple as that. European rival airbus also operates fac
Investors scramble for snapchat, in the biggest Tech Flotation since twitter. But is the app a Cash Cow Orjust a craze . Plus, coming up on netflix the boss tells us his plans for the Internet Tv Giant as it heads towards 100 million users. Welcome to World Business report. Im sally bundock. Also in the programme up up and away the us markets blast through previous record highs, the global rally is continuing in asia. Details in a moment. We start on wall street where investors are gearing up for what could be the biggest and certainly the most hyped Technology Flotation since twitter in back 2013 or even facebook the year before. In a few hours time shares in snap the owner of photo messaging app Snapchat Will Begin Trading on the new york stock exchange. The big question will it end up a Stock Market Giant like facebook or, like twitter, a bit of a flop . Heres what we know so far the flotation has been hugely oversubscribed there were as many as ten orders for every share. Thats all
Pitbull, on the moment he shot his girlfriend. I couldnt pick reeva up. I was struggling to pick her up. And new video, just shown, on the shooting range. And and the royal crawl. Prince george in his First Official play date. And, baby, hes ahead. With almost everyone, except this girl. She started crying, and he just wanted to hold her hand. And good morning to our viewers on the west coast. We have three major stories developing right now with new information for the pacific time zone. That big new break through in the intense height for the flight 370s black boxes. But have to find them before the batterying die. Every minute counts i right now. We have the latest of Oscar Pistorius under savage crossexamination right now. Lets get to the breaking story. Mass stabbing outside of pittsburgh. Paul la ferris is tracking the latest. Pahl paula. That suspect is in custody but not before stabbing 20 people at an pennsylvania high school. Heres the aerial photo showing buses lined up and