Transcripts For BBCNEWS World Business Report 20170504 : vim

Transcripts For BBCNEWS World Business Report 20170504



like it or loathe it, it is bigger and more controversial than ever. facebook closes in on 2 billion users but can it see off the controversy. also france and youth unemployment. also in the programme, china's answer to boeing prepares for its maiden flight. we start with facebook, because despite the ongoing controversy over everything from fake news to extremist and violent content, the social networkjust keeps getting bigger and more profitable. facebook has been warning for some time it can't keep growing at this rate but the latest results show no sign of a slowdown yet. take a look at these numbers. facebook made profits ofjust over $3 billion in the first three months of this year. that's a jump of more than 76% on the same period last year and more than investors were expecting. facebook is creeping ever closer to two billion users — 1.91; billion people are now actively using the social media platform every month, up 17% on this time last year. but in recent months there's been growing criticism over how facebook polices its content — failing to stop extremist or violent material — or the spread of ‘fake news‘ that some claim is distorting politics. it's planning to hire 3000 more people to monitor and remove offensive material. the first impression when one hears that facebook is hiring 3,000 employees to monitor posts and to try to find the fake news that's out there amongst the facebook posters is that it's really about public relations and trying to improve their relationship with their users. so for facebook making an announcement and doing whatever they can to prevent everything from post that are violent being being posted on their sites, to trying to fight fake news, all of that is very important to their shareholder base and to the value that they're creating." with me is peter veash, founding partner and md of the bio agency which helps companies with their digital marketing strategy good morning and thank you for coming in. we heard one view on how facebook is doing and what needs to change. they have had phenomenal results. profits are up. revenue is up results. profits are up. revenue is up and stop a very strong performance, more than was predicted. there is a question as to whether that continues into the future. there is not much further they can push it, they admit that themselves. every time they come out with numbers, they say they cannot continue this momentum and facebook shares were down on concerns about future sales. what do they have to do to try and keep up? they need to look to widen as their portfolio. virtual reality, artificial intelligence and conductivity is something they are delving into. they had to drop prices and a product which has not really sold. what they do next and how they connect the platform together is the question. valid concern about what is on the social media site, the violent material, material of abused children which they are not taking down quickly enough. they are employing 3000 people to help with that. human beings are needed to make that happen? it feels a bit outside of the control today. it is quite surprising given that they are a technology business. i think they are playing catch up and they are on the foot and do not how to control it. when it comes to the data they collect in, it is the huge and so valuable, i assume, collect in, it is the huge and so valuable, iassume, because it collect in, it is the huge and so valuable, i assume, because it is getting data about what we like, what we're of buying, where we are going, it is extremely value. should we be concerned about it? at the moment they are using it to make sure we get the right content and advertising but to be frank about it, 2 billion users, matching data, and they are getting artificial intelligence, the world is their oyster. watch this space, i think. they know a lot more about us than we think. it is a scary thought. thank you for coming in and sharing your oils. lots more analysis on our website. —— your thoughts. as you have been hearing emmanuel macron and marine le pen have been squaring off in a tv debate ahead of france's presidential election this sunday. whoever wins will inherit a raft of economic challenges. unemployment at 9.6% is far higher than in germany or the uk. youth unemployment is a particular problem — nearly a quarter of 15—24 year olds are out of work, and in some areas the figure is even greater. theo leggett reports. must say it is one of france's biggest cities. more than 150,000 people live here in what is a relatively prosperous region but inequality and social division are right. you get a good impression of the sheer scale of the problem by coming here. intel is like the one behind me, thousands of families that lived, many in poverty and the youth unemployment rate is 45%. many of those young people stand little if any chance of getting a job. breaking the cycle of low expectation, poor quality patients is difficult. in this area, a foundation is trying to help people find work but there are many obstacles. they do not have something inside and to drive them and want something else. to make easy money, to pay for things. also the social system around them is not helping them. it is just assisting them, making them dependent. the young people who want to help themselves, there are opportunities. further to the north, in lyon, intensive classes are held in computing. the courses here are free and they are offered to people who left school without proper qualifications. the aim is to find work in the technology. we have 9596 success work in the technology. we have 9596 success with our students who now work in good jobs. it is a really gate thing to have taken people who are marginalised by society because of their lack of education and to help them to become reductive members of society. the academy is funded by private businesses. it is a lifeline for unqualified people but it is a drop in the ocean for the next president, tackling youth unemployment will have to be a priority. to asia now where china is poised to enter the airliner business. the commercial aircraft corporation of china — or comac — has announced that tomorrow will be the maiden flight for this — the c919 — its first home—produced large passenger plane. rico has been looking at this in singapore nice to see you. people could soon be boarding this new plan? keeping oui’ be boarding this new plan? keeping our fingers crossed, hopefully by 2019 and that is that when most of the airlines which avoided it will be having their aircraft. at this point, china is indeed an ambitious and the world will be watching the maiden flight of the c919. it is intended to compete with the boeing 737 and the airbus 320 family of planes in a single aisle market. if all goes to plan, the c919 could be in service in about two years time. the test flight has really been pushed back from 2016 so this is maiden flight tomorrow is very critical. if successful, the manufacturer could take a significant chunk of chinese business, forecasts of over $1 trillion over the next 20 years. china will need 6000100 aircraft over that period. —— 6,800. in other news europe's largest bank hsbc says first quarter profits fell 19%. it made just under 5 billion dollars for the first three months of the year — down from 6.1 billion this time last year — but better than analysts were expecting. hsbc says the fall was mostly down to accounting changes and the fact last year's results included earnings from its brazil business that it sold injuly last year. i will see you in a moment when we reviewed the other stories in the press. we will be looking at the newspapers shortly. the old five pound note will cease to be legal tenderfrom midnight tonight, meaning shops will no longer have to accept them. the bank of england said there are still around 150 million in circulation. the old notes are being replaced by a new tougher plastic fiver, but it seems some are not aware of the change. 0ur personal finance correspondent simon gompertz reports. it is exactly 15 years since the paper £5 note entered circulation 110w paper £5 note entered circulation now winston churchill is taking over. plenty of shoppers still have the old notes and some traders do not know the end is nigh. had no idea. absolutely surprise. i have just been told it is finishing. you still have people bringing them in? absolutely. did you know the old £5 note is finishing on friday night. no. is that a surprise. yes, of course. a of remain at large. three notes for each adult in the uk. after friday, you will still be able to ta ke after friday, you will still be able to take the old £5 note to your bank and deposit it or exchange at but shops will not be accepting them so you are probably best spending them before then. the bank of england says it will accept returns of the paper note for all time but they. being illegal tender from midnight tomorrow. —— legal tender. 0n breakfast, the rising number of men being treated for eating disorders. should more men the affected by conditions like anorexia and bulimia? also the papers next. this is bbc news. the latest headlines: emmanuel macron, the centrist candidate for the french presidency, has cemented his position as favourite for sunday's vote after a quarrelsome televised debate with his nationalist rival, marine le pen. republican politicians in the united states say they are now confident they can repeal president 0bama's healthcare legislation. extra money for those with pre—existing medical conditions appears to have won over enough sceptics. more protesters have been killed in venezuela where there's been another day of violent clashes in cities across the country. many other opponents of the government were injured as riot police used force to block rallies. the new speaker of the macedonian parliament has taken office, almost a week after an unusual outburst of violence in the capital. masked men stormed the parliament building last thursday, beating up opposition politicians. the late lady in red in —— in red is back. what are you writing? my notes. now it is time for our newspaper review. we begin le figaro and french presidential candidates marine le pen and emmanuel macron who have traded accusations and insults in the final televised debate ahead of sunday's election. the independent business section writes that

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