boeing revenues fall 8%, the first decline in seven quarters as the us plane maker battles production and delivery woes. and the countdown begins for tiktok, the us moves a step closer to banning the social media app after the senedd approves the bill. welcome to world business report. we begin in the us, where we'vejust had earnings results from boeing. it's been a challenging time for the plane—maker, after a door panel blew out on a commercialflight,

leading to the company having to pay out compensation to customers and slowdown it's production of it's 737 max. it's also being investigated by aviation regulators and the us department ofjustice. the figures tell us that revenues were down by 8%. let's cross to new york now to erin delmore, our north america business correspondent. it's not a surprise given boeing has beenin it's not a surprise given boeing has been in the news so much lately are not in a good way. if anything may be the surprising thing is that the results were little better than expected. expectations were low and thatis expected. expectations were low and that is after a door blew out of a jet injanuary and in the resulting months that has slowed production for the plane—maker. they reported a first quarterly revenue drop in seven quarters and cashman was higher in the first quarter but a little better than expected. the

defence business was also a bit better than expected and the service business had good margins. those might be some of the reasons why we see shares up more than 8% right now although we have the note that given context shares are down more than 30% this year to date. the real thing investors want to know about boeing is who is going to be in charge? we've seen a lot of turnover and the ceo has said he will be stepping down, the head of the commercial division has stepped down. bold leadership has changed. we are looking to see where the promises made by the existing leadership will continue in the new era and come to fruition under new management. it’s era and come to fruition under new management-— era and come to fruition under new management. it's really hard to keep track. management. it's really hard to keep track- thank— management. it's really hard to keep track. thank you _ management. it's really hard to keep track. thank you for _ management. it's really hard to keep track. thank you for running - management. it's really hard to keep track. thank you for running us - track. thank you for running us through that. we will talk some more in a minute. let's bring in now paul charles, travel expert and ceo of the pc agency. that question about what happens next, not least in terms of leadership at the direction for the company. can it right the ship?

boeing is too big to fail, no doubt about— boeing is too big to fail, no doubt about that — boeing is too big to fail, no doubt about that. it's the uncertainty that not— about that. it's the uncertainty that not only investors but also airline — that not only investors but also airline customers are concerned about — airline customers are concerned about yes. _ airline customers are concerned about. yes, they are slowing down production— about. yes, they are slowing down production deliberately after years of issues _ production deliberately after years of issues they are now grappling with _ of issues they are now grappling with at— of issues they are now grappling with. at the big question is when will the _ with. at the big question is when will the production line and the deliveries stabilise? we are in the period _ deliveries stabilise? we are in the period at— deliveries stabilise? we are in the period at the moment in the airline industry— period at the moment in the airline industry where there is huge demand, airlines— industry where there is huge demand, airlines want more planes, they are seeing _ airlines want more planes, they are seeing enormous demand from their passengers to fly, this is going to be the _ passengers to fly, this is going to be the busiest summer ever most likely— be the busiest summer ever most likely the — be the busiest summer ever most likely the flying. and yet boeing cahhot _ likely the flying. and yet boeing cannot deliver those planes fast enough — cannot deliver those planes fast enough. the big question is, how will they— enough. the big question is, how will they stabilise it and who is going — will they stabilise it and who is going to — will they stabilise it and who is going to stabilise it? or will be in charge _ going to stabilise it? or will be in charge of— going to stabilise it? or will be in charge of bowing to make these tough decisions? _ charge of bowing to make these tough decisions? too charge of bowing to make these tough decisions? ., ., , ., charge of bowing to make these tough decisions? , ., ., ,, ., decisions? too big to fail, we know the industry _ decisions? too big to fail, we know the industry dominated _ decisions? too big to fail, we know the industry dominated by - decisions? too big to fail, we know the industry dominated by boeing i decisions? too big to fail, we know. the industry dominated by boeing and airbus so it's future is not in

doubt but it does pose some fundamental questions not least for the power that boeing plays in that market but also why it is so difficult for new entrants to get a slice of it. arrival plane—maker which is still relatively small in china but it is napping on the heels on the likes of apex and boeing? it on the likes of apex and boeing? it is but the barriers to entry are enormous _ is but the barriers to entry are enormous to compete with airbus and boeing _ enormous to compete with airbus and boeing you _ enormous to compete with airbus and boeing. you have to have years of licences _ boeing. you have to have years of licences and experience in technological track records. china may technological track records. china n1ayget— technological track records. china may get there in the future but at the moment it doesn't have those so if you _ the moment it doesn't have those so if you are _ the moment it doesn't have those so if you are an— the moment it doesn't have those so if you are an airline boss you are going _ if you are an airline boss you are going to — if you are an airline boss you are going to go _ if you are an airline boss you are going to go with the safety net what should _ going to go with the safety net what should be _ going to go with the safety net what should be a safety net in boeing and airbus _ should be a safety net in boeing and airbus. both of those have their own issues _ airbus. both of those have their own issues of— airbus. both of those have their own issues of course. airbus itself having — issues of course. airbus itself having had engine problems on some of its planes. there are issues at both— of its planes. there are issues at both of— of its planes. there are issues at both of them and what is key about boeing _ both of them and what is key about boeing now is to re—instill confidence. if you run an airline

you need — confidence. if you run an airline you need to _ confidence. if you run an airline you need to see that the production line you need to see that the production tine wiii— you need to see that the production line will stabilise, that the person in charge — line will stabilise, that the person in charge at the top knows what they are doing _ in charge at the top knows what they are doing to— in charge at the top knows what they are doing to instil a safety culture and that— are doing to instil a safety culture and that has been the issue at boeing. — and that has been the issue at boeing, the culture has not been a safety _ boeing, the culture has not been a safety conscious as it should have been _ safety conscious as it should have been and — safety conscious as it should have been and what they need to do is make _ been and what they need to do is make sure — been and what they need to do is make sure their employees think about— make sure their employees think about culture much more i think about— about culture much more i think about safety much more and almost make _ about safety much more and almost make them — about safety much more and almost make them the boss of boeing to some extent, _ make them the boss of boeing to some extent, to _ make them the boss of boeing to some extent, to make them feel good and passionate _ extent, to make them feel good and passionate about the quality of the work they — passionate about the quality of the work they are doing. and passionate about the quality of the work they are doing.— work they are doing. and all the while the customer _ work they are doing. and all the while the customer is _ work they are doing. and all the while the customer is caught - work they are doing. and all the while the customer is caught in | work they are doing. and all the i while the customer is caught in the middle. they find the airlines can't get the plane so prices go up the tickets and all of us end up paying for these failures.— for these failures. airlines are makin: for these failures. airlines are making a _ for these failures. airlines are making a lot _ for these failures. airlines are making a lot of _ for these failures. airlines are making a lot of money - for these failures. airlines are making a lot of money this . for these failures. airlines are i making a lot of money this year for these failures. airlines are - making a lot of money this year and they are _ making a lot of money this year and they are proving to be highly profitable because the prices are going _ profitable because the prices are going up~ — profitable because the prices are going up. notjust because of demand but also _ going up. notjust because of demand but also because of inflation. there are higher— but also because of inflation. there are higher costs across the supply chain— are higher costs across the supply chain and — are higher costs across the supply chain and aviation, whether it's for paying _ chain and aviation, whether it's for

paying wages, the cost of the materials and maintenance would have .one materials and maintenance would have gone up _ materials and maintenance would have gone up and _ materials and maintenance would have gone up and because of that high demand — gone up and because of that high demand but lack of supply. so we are going _ demand but lack of supply. so we are going to _ demand but lack of supply. so we are going to be _ demand but lack of supply. so we are going to be paying these sorts of prices _ going to be paying these sorts of prices for— going to be paying these sorts of prices for a long time yet. there is no sign _ prices for a long time yet. there is no sign of— prices for a long time yet. there is no sign of those prices coming down. the end _ no sign of those prices coming down. the end of— no sign of those prices coming down. the end of the low cost flight is definitely over.— the end of the low cost flight is definitel over. . ., ., ,, definitely over. always good to talk to ou. definitely over. always good to talk to you thank— definitely over. always good to talk to you. thank you. _ let's stay in the us, where the senate has approved a controversial landmark bill that could see tiktok banned in america. it gives tiktok�*s chinese owner, bytedance, nine months to sell its stake or the app will be blocked in the country. the bill will now be handed over to us presidentjoe biden, who has said he will sign it into law as soon as it reaches his desk. tiktok has told the bbc that it did not have an immediate response to the move. previously bytedance said it would oppose any attempt to force it to sell tiktok.

back with us is erin delmore, north america business correspondent. it's so interesting, the speed at which this had happened but it's beenin which this had happened but it's been in the making for quite a while. it been in the making for quite a while. . , . been in the making for quite a while. .,, . v been in the making for quite a while. .,, ., �*, ., been in the making for quite a while. ., �*, ., , while. it has and it's also been batted back — while. it has and it's also been batted back and _ while. it has and it's also been batted back and forth - while. it has and it's also been batted back and forth now - while. it has and it's also been batted back and forth now and | while. it has and it's also been - batted back and forth now and this is quite the reversal, just to bring into context years ago this was something suggested by president trump and when president biden came into office was thought maybe this would be a reprieve for tiktok and its parent company bytedance. for a few months it looked as though the biden administration would not be pushing forward a ban on tiktok and then we saw some movement in the house as legislation go through and thenit house as legislation go through and then it stalled in the senedd. so what boustead is it went and bundled it with a bill on foreign aid that was able to swiftly pass it through the house of representatives and send it over to the senedd and now

it heads to president biden's desk. what happens next? president biden has indicated he will sign the bill and at that point it puts bytedance on a clock to sell tiktok or to face a ban in the us. but if we look closely at what the us can control and what it can't, the us can talent in that service providers that it can't host tiktok, you can tell app stores it cannot offer the platform. but it also can't compel bytedance, this is the tricky legal situation we will find cells in, troops have said it will challenge this measure in court and the courts are thought to be the next up and any potential sale would require a very wealthy buyer. there are so many come over 170 million users in the us, if we look ahead and we think may be some of the tech firms would be willing to buy it, that could pose an anti—trust challenge at a moment when a lot of these firms are already facing legal issues with the

us government anyway.— already facing legal issues with the us government anyway. thank you for talkin: us us government anyway. thank you for talking us through _ us government anyway. thank you for talking us through that. _ injune, millions of people across the european union will head to the polls to elect more than 700 representives to the european parliament. the state of the economy will be high on the agenda for many. our correspondent nick beake reports now from the spanish port of algeciras. it's the country's biggest port and its second largest industrial hub, but unemployment there is twice the eu average. in a perfect world, 20—year—old lucia would make a living doing what she loves — restoring furniture. today it's this coat of arms. but it doesn't pay enough and in her part of spain, finding anyjob is really hard. translation: i am working very hard to try and make a living _ for what i love doing. i see my friends with full—time jobs

only making e700 a month. they take advantage of the fact that we're young because they know that we're going to shut up and take whatever money they give us. in the city of algeciras, these kids face a tough future. it feels like a bustling place, but 40% of young people can't find a job, the highest rate in the whole country. the sky high level of unemployment here in algeciras means there's huge scepticism that anything will change for the better after the european parliament's elections in six weeks' time. there are deep rooted economic problems and despite the vibrancy of this place, success stories are pretty hard to find. but this is one — business is good at this repair company. a 230—metre—long container ship, the latest vessel they're fixing. it's meant 21—year—old mario has been able to get a decentjob, something that's eluded

many of his friends. outside of the naval sector, it is kind of difficult to have a permanentjob. the contracts that they are providing are low—wage and short—term and they basically, yeah, you know, they take a little bit of advantage of the people needs to save their money. one of the bosses says he'd love to take on more workers, but the problem is that while so many young people need a job, theyjust don't have the expertise. we have the highest percentage of unemployed people here, and that people we cannot, we cannot get with us because they don't have the skills. algeciras boast the biggest port in spain but doesn't feel the benefits. the eu is sending e1110 million to the region to try to boostjobs, which may or may not win votes at the european elections. but it feels much bigger investment is needed here, particularly in roads, railways and other infrastructure

to turn the tide for this young generation. nick beake, bbc news in southern spain. profits for lloyds banking group plunged by 28% as competition grew for mortgages and deposits. the bank posted pre—tax profits for the first 3 months of the year of £1.6bn, down from £2.3bn last year. lloyds said its margins had been hit mainly within uk mortgages amid heightened competition between lenders to offer squeezed buyers better deals. some positive news for the german economy, with the measure business sentiment improving more than expected this month. the ifo institute's business climate index rose to 89.1; beating analysts' expectations of an 88.8 reading. according to the institute, the economic situation is stabilising, led by service industries. you are up to date. we will see

soon. goodbye.

hello from the bbc sport centre. liverpool could have found their man to replacejurgen klopp. the club are set to open talks with feyenoord over their manager arne slot. klopp announced injanuary he would leave anfield at the end of the season and slot, who led feyenoord to the eredivisie title last season, has emerged as a candidate who fits liverpool's criteria.... but tonight at goodison, liverpool first have to get through the merseyside derby against city rvials everton, if they are to keep the pressure in the premier league title race... win and they go second, level on points with arsenal, who beat chelsea last night — however, manchester city, in third, do have two games in hand...at the bottom, everton are two places and five points above the drop — so for sean dyche, this game is all about a performance.