We start in the us, where shares of meta, hello. If you are justjoining us, you are in time with the top business stories. We start in the us, where shares of meta, the owner of facebook, instagram and whatsapp plunged in after hours trading after its forecasts disappointed wall street. Investors are concerned the huge amount meta is spending on Artificial Intelligence may not translate into higher profits. Lets show you the details. When it comes to how much money meta is making, profits came in at 12 point 4 billion in the first three months of the year. Thats more than double the amount it made this time last year, and better than expected. But heres one of the numbers worrying investors, meta expects its costs to rise to almost 100 billion this year, as it invests heavily in al and virtual reality. Coupled with a forecast that revenues will barely grow in the Current Quarter that sent shares plunging some 13 in after hours trading. Wiping as much as 160 billion off its stock market value. From new york, erin delmore reports. Manor Ceo Mark Zuckerberg picked investors interest when he announced 2023 would be the efficiency and he won them over money delivered on it. The stock nearly tripled last year. This year manor shares are up another 40 but on mistakenly released its First QuarterEarnings Report and shares initially slumped during after hours trading. Facebook � s Parent Company did Beat Expectations on revenue and earnings but disappointed on its Revenue Forecast for the Second Quarter of the year. Higher expenses also wages down. Wednesday is any report marked up back Down To Earth the moment for the formally Red Hot Tech Giants and moderate expectations for months ahead as the company grapples over how to generate profit off of genitive aa and drop and doesnt have in an increasingly crowded market. Generated ai. Ray wang is chairman of Constellation Research based in silicon valley. He says investors have overreacted to the weaker than expected forecast, and the amount meta is spending on al, and they should be patient. They are doing really well in general but ai is expensive and only a few players can play. But people overreacting selling facebook share is should probably come back because what they will see as ai will create they will see as ai will create the exponential efficiency. Well, meta boss Mark Zuckerberg has been speaking to investors after those results came, trying to calm nerves. He said they have got � more optimistic and ambitious on al since the last Earnings Report. But he warned that � building the leading ai will be a large undertaking and will take several years�. He also said they will need to � grow investment meaningfully before we make much revenue� linn frost is Managing Director of the social element, a Global Social media agency. Welcome. Are you in agreement with Mark Zuckerberg and with ray wayne that we need to be patient here . I ray wayne that we need to be patient here . Patient here . I am. I think we should be patient here . I am. I think we should be thinking patient here . I am. I think we should be thinking about patient here . I am. I think we i should be thinking about longer term. If you have matter made to be the go live, the leading platform. We need to think about if you are making profits, they are as predicted is better, we need to think about what we investigate in the future. Meaningful investment and how we approach that should be good news for industry. It that should be good news for indust. , industry. It is interesting because industry. It is interesting because matter industry. It is interesting because matter manl industry. It is interesting i because matter man has industry. It is interesting because matter man has been because matter man has been through with years in the sense Mark Zuckerberg did this huge launch, a lot of Capital Expenditure that spooked investors. In the last year he said we are clamping down and reducing headcount, being more efficient, focusing on profit. Investors love that. Now they are worried again. I investors love that. Now they are worried again. Are worried again. I think we should go are worried again. I think we should go back are worried again. I think we should go back to are worried again. I think we should go back to where are worried again. I think we l should go back to where social media and manner and success dont come about connecting humours and how we build those connections. For us, anything, any innovation that does that carries them on the trajectory and journey. Carries them on the trajectory andjourney. I carries them on the trajectory and journey. I think the landscape has moved on and i feel like they have put their mark in the sand and said will this race. For us as how were advising brands, we ask is an agency to seek ways to innovate and how we can enhance what we know enables brands to grow. Building community, having that connection and i think it would be a mess, straight if they did not say they were investing in that area because that is where things are heading, they need to invest. ~. ,. , things are heading, they need to invest. ~. , things are heading, they need toinvest. , to invest. What are you saying to invest. What are you saying to clients to invest. What are you saying to clients about to invest. What are you saying to clients about tiktok . To invest. What are you saying to clients about tiktok . Who | to clients about tiktok . Who use tiktok to use to break their business and etc, what do you say about that given what happened in the us . We you say about that given what happened in the us . We have to a roach happened in the us . We have to approach everything happened in the us . We have to approach everything with approach everything with caution. That is what we always need today. We always say be aware, want to connect with people, want to know where they are. Our people, want to know where they are. 0uradvice people, want to know where they are. Our advice is the same with x. Protecting, the other part we must not miss is about protecting young people on social media and their usage. Looking at the election is that socialism is an incredible powerful tool and when to make sure investment from however, the whole industry is set to make sure it is safe everybody and the intentions are true. We would always say be mindful and also do not discount or move away to irrationally. Away to irrationally. Thank ou. Away to irrationally. Thank you more away to irrationally. Thank you. More detail away to irrationally. Thank you. More detail on away to irrationally. Thank you. More detail on the i away to irrationally. Thank. You. More detail on the meta results on our website. To news now of a potential mega merger in the Mining Industry. Uk based Anglo American, whose shares are listed here in london, has confirmed it has received an unsolicited Buyout Proposal from its massive australian rival bhp. Lets go straight to our correspondent in singapore sura njana tewari. What more do you know about this . �. , ~ ,. , what more do you know about this . , ~ ,. , this . Angloamericans have been approached this . Angloamericans have been approached by this . Angloamericans have been approached by bhp this . Angloamericans have been approached by bhp about this . Angloamericans have been approached by bhp about the approached by bhp about the potential multibillion dollar takeover offer. Anglo americans takeover offer. Anglo america ns told the takeover offer. Anglo americans told the bbc the proposal is currently being reviewed by the Board Of Directors but did not reveal the value of the offer. Bhp has not immediately responded to requests for comment from the bbc. If the deal goes ahead, it would be one of the Mining Industry � s biggest mergers years. It operates minds in countries like chile, south africa, brazil and australia and has a Stock Market Valuation of more than 30 billion. Australian based bhp is the World Largest listed Mining Company with a Market Valuation of around 149 billion. The company after bhp bought american copper producer. If this goes ahead, the deal would increase bhp � s access to copper through operations in South America. The price of copper has risen on Global Markets by more than 15 this year. It is in high demand because it is used in the manufacture of clean energy products. Analysts say it is Anglo American footprint and the Copper Industry that would attract a Mining Dialect bhp. Thank you so much. Susannah streeter is head of money and markets at hargreaves la nsdown. This is a big story. Bhp is the world � s biggest Mining Company. Anglo american, they know each other well, rivals, im wondering what the board will say about this. Will say about this. What they are so so will say about this. What they are so so far, will say about this. What they are so so far, indications will say about this. What they are so so far, indications are| are so so far, indications are they will look at this proposal very closely. They are certainly not going to take a cheap offer, that is for sure. If it does take place as you say, this would be a megamerger, shaking up the Mining Industry. It will also shake up the City Of London because there are real concerns about the number of Major Companies either not choosing to list in london or be taken over by overseas giants. Because violations are still considered to be cheap compared to International Peers and this move, the speculation about what may happen in the Mining Industry, the potentialfor Anglo America to lead will only add to those concerns. Anglo america to lead will only add to those concerns. Some of the most lucrative add to those concerns. Some of the most lucrative copper add to those concerns. Some of| the most lucrative copper mines around the world so. A107 year old company. You can see why bhp is interested. Bhp is interested. Absolutely. As a really bhp is interested. Absolutely. As a really diverse bhp is interested. Absolutely. As a really diverse asset bhp is interested. Absolutely. As a really diverse asset mix. | as a really diverse asset mix. As a really diverse asset mix. As a really diverse asset mix. As a tilt towards iron ore and copper. Very sought after in the Green Revolution and also there is legal, diamonds, platinum metal in the mix as well. This diversity is likely to be very attractive. Any deal would have to see some of the assets and operations advance in South America from the rest of this business before it goes ahead. Anglo american suffered from 10 fall in its share price over the past year and this is potentially wide. It has become this takeover. Considered an historic terms to be cheap compared against the International Peers. It is just going to add fresh concern among those in the city about the number of firms leaving because there have been a dearth of ipos with other Companies ChoosingUnited States instead. Interesting, we will kee states instead. Interesting, we will keep an states instead. Interesting, we will keep an eye. States instead. Interesting, we will keep an eye. Thank states instead. Interesting, we will keep an eye. Thank you. I will keep an eye. Thank you. Have a good day. Lets return to the us, because in a few hours time we will find out if the worlds biggest economy, is still getting bigger. The us economy has surprised everyone with how strongly it has been growing, despite the Federal Reserve pushing Interest Rates to a record high to try to control inflation. Us growth hit an annual rate of 3. 4 in the three months to december. Today we get a first estimate of Growth Forjanuary to march, Economists Polled by reuters think it slowed to around 2. 4 . Chris campbell is a former us treasury official, who now runs incamera, a global Strategic Advisory firm. Welcome to the bbc. What do you think the number will be today . Some are looking at 2. 5 . What some are looking at 2. 5 . What does that mean some are looking at 2. 5 . What does that mean for some are looking at 2. 5 . What does that mean forjohn some are looking at 2. 5 . What does that mean Forjohn Powell and his team who are assessing when they can safely start to reduce Interest Rates . Reduce Interest Rates . There are a lot reduce Interest Rates . There are a lot of reduce Interest Rates . There are a lot of things, reduce Interest Rates . There are a lot of things, it reduce Interest Rates . There are a lot of things, it raises. Are a lot of things, it raises productions and a lot of it is notjust based on gdp growth but also on inflation. We have seen Inflation Heat up as of late and likely that means the federal circuit is not going to lower Interest Rates. Our coal is will not be reduced throughout this year. Where is the pressure throughout this year. Where is the Pressure Points throughout this year. Where is the Pressure Points in throughout this year. Where is the Pressure Points in the throughout this year. Where is the Pressure Points in the us. The Pressure Points in the us economy . We are talking about the fact it is growing well, resilient, proving strong and bigger and better despite the high Interest Rates. Where do you see the pressure . Consumer sendin you see the pressure . Consumer spending across you see the pressure . Consumer spending across the you see the pressure . Consumer spending across the board you see the pressure . Consumer spending across the board has i spending across the board has been strong. It is actually the reason why the economy has done so well. The government and United States have been spending a lot of money last year and this year. There is a bit of a softness and spending now. Most consumers have spent a few of their savings mostly on credit cards. We see a Record Number of Credit Card Indebtedness among us consumers. That will slow the ability to spend. The money on credit card is more expensive this year than it was last. When you Thinkjerome Powell say they are cutting rates . Will it be this year, in the autumn . Will it be this year, in the autumn . � ,. ,. , autumn . Im never popular when i sa this autumn . Im never popular when i say this but autumn . Im never popular when i say this but i autumn . Im never popular when i say this but i dont autumn . Im never popular when i say this but i dont see autumn . Im never popular when i say this but i dont see them. I say this but i dont see them cutting rates this year. Inflation needs to be stamped down and month after month we need to see inflation either go down or at or near the 2 target for the Federal Reserve sets. Doing the opposite direction. I believe the Federal Reserve will maintain we have currently is a way late in this year. Perhaps we will realistically review industry and positive Interest Rates after the election. After the election. Again, ma be after the election. Again, maybe a after the election. Again, maybe a christmas after the election. Again, maybe a christmas gift. L after the election. Again,. Maybe a christmas gift. Who knows . Thank you very much indeed. Lets get some of the days other news now. The uks Opposition Labour Party says it plans to re nationalise the countrys rail Network Within five years if it wins the next general election. Labour wants to set up a publicly owned organisation, Great British railways, which would inherit Rail Contracts held by private firms as they expire. Almost 70 of uk voters support bringing rail back into Public Ownership according to a recent poll. But the gov