facebook parent company meta forecasts weaker—than—expected second quarter sales, sending its stock into free—fall. tiktok vows legal action, as president biden signs into law a bill that could ban the social media platform in the us. hello and welcome to asia business report. i'm mariko oi. us tech giant meta — the parent company for social media platforms facebook and instagram — reported first—quarter earnings. revenue and earnings both beat expectations but the share price

is down over 15% in after hours trading. erin delmore explains why. meta ceo mark zuckerberg piqued investors' interest when he predicted 2023 would be the year of efficiency, and he won them over when he delivered on it. the stock nearly tripled last year. this year, meta shares are up another a0%. but on wednesday, meta released its first quarter earnings report and shares initially slumped during after hours trading. facebook�*s parent company did beat expectations on revenue and earnings, but it disappointed on its revenue forecast for the second quarter of the year. higher expenses also weighed shares down. so wednesday's earnings report marked a back down to earth moment for the formerly red hot tech giant, and it moderates expectations for the months ahead as the company grapples over how to generate profit off of generative aland drum up advertising revenue in an increasingly crowded market. i spoke to tech analyst ray wang of constellation research, and asked him what he made of meta's soft outlook.

they outperformed in their results, but the challenges, ai is really expensive when it turns out you're off by a couple billion dollars, almost $5 billion in costs to ramp up alto compete, and that's really the challenge here. the fundamentals are there, they are showing that the ad business is back, 2.4 billion daily active people and they've grown sales and marketing costs, in general they are doing very well, and ai is very expensive so in only a few players can play. this is a blip, people are overreacting by selling meta shares, it's going to create that efficiency. ai is the big theme here, the magnificent seven including the likes of google parent as well as microsoft and nvidia, they are always reporting this next week as well, so who are the winners and losers in this ai race? double digit growth and monetisation models that are winning, so meta, amazon, microsoft

and nvidia have it. declining revenue of growth — apple and tesla are falling out of favour, the mag seven becoming a fab five. elsewhere, president biden has signed into law a bill which gives tiktok�*s chinese owner, bytedance nine months to divest it or the social media app will be banned in the us. but tiktok has vowed to take legal action, saying in a statement that the us law is unconstitutional and that the company has gone to great lengths to ensure us user data is safe and free from outside manipulation. ray told me how he sees the situation with ticktum. —— tiktok. it's a lot more complicated. this is the only thing both parties in the us is critical on. the competition is really how the data will be separated.

one model puts the data of a us server and of course divesting some of the ownership and the governance restrictions. that's the challenge but this is not a first amendment issue or national security issue, it's a reciprocity issue. if china would allow facebook and google to operate in china, i think they would be part of the same kind of rules. to some major deal news in the mining space now — bhp, the world's largest mining company, has made an all—share offer to buy british miner anglo american. the deal values anglo american at $37 billion. bbc reached out to anglo american, who confirmed that they have indeed received bhp's proposal, and that their board is currently reviewing it. if an agreement is reached, this would mark the biggest shake—up in the global mining industry in over a decade. we also got earnings out of south korean chip giant sk hynix this morning. the world's second biggest memory chip—maker saw its highest profit growth

in almost two years of $2.1 billion. the artificial intelligence boom helping the company reverse heavy losses incurred last year. us plane—maker boeing reported its first revenue drop in almost two years. its manufacturing quality has come under scrutiny after a series of accidents involving its max 737 model. let's bring in aerospace consultant mark martin. i asked him what he made of boeing's results and his outlook for the playmaker. building commercial aeroplanes, the revenue is driving the entire performance of boeing down. revenues are down by 1.6 billion. what's alarming is that deliveries on the boeing 737 max is also down from 160 down to 83. the bigger concern of the moment is not deliveries per se, but airlines that are opting out of the max 10, we have seen in the past united

airlines talking about it cancelling its max 10 order. clearly all of this boils down to safety issues and quality violations that have occurred over at boeing. this is not going to go soon, we're not going to see this change in the next couple of quarters coming up this year, it's going to continue at least for another 12—24 months, so we're looking four more quarters of financial impact because boeing truly has to work a lot — if you look at boeing's defence earnings, that's not really done that great. their stock has been significantly higher than previous quarters, so it's a rough time for boeing. i don't think they're going to get out of this because get out of it anytime soon, because clearly this is self—inflicted and it's systemic. staying with aviation, when the new boss of japan airlines was announced earlier this year, it sent a shock wave across the country because for the first time in the company's history, it

appointed a female president. that means the firm has joined less than 1% of top—tier listed firms led by women. it made news headlines just two weeks after a runway collision at haneda airport which put the spotlight on staff training. i caught up with mitsuko tottori to find out more about the crew and her new role. translation: i remember being so relieved to hear that they - managed to evacuate. as for training, we do rigorous training each year using all sorts of real life experiences. for example, the evacuation at this time was credited to passengers not taking their bags, and we learned that from our past experience. so we emphasise the importance of leaving the bags. your appointment has received a lot of attention because you are the first female president ofjapan airlines and you are also the first former flight attendant

to get the top job. one report even describing you as an avient molecule. how does it feel to be in the spotlight because of your gender and your background? i didn't know about an alien molecule! i don't think of myself as the first woman or the first former flight attendant. i want to act as an individual, so i didn't expect to get this much attention. i guess one of the reason there's so much spotlight on you is because the japanese government has been trying to increase the number of female managers for more than a decade now. but even today, less than 1% ofjapan's top tier listed companies have a female president or ceo. in yourview, canjapan achieve its womenomics target to have 30% female managers by 2030? and in your view, what needs to be done about it? it's hard to say. i hope japan can achieve the target, but we have

to take it very seriously. it's notjust about the corporate leaders mindset, but also i think it is important for women to have the confidence to become a manager. in your previous role, you managed to save manyjobs during the pandemic by retraining some flight attendants. what do you think you bring to the top job compared to other male presidents because of your experience as a flight attendant and also based on your knowledge of the internal workings? earlier i said i want to act as an individual, but i realise the public or our employees don't necessarily look at me like that. but my appointment proves jal�*s commitment to diversity and by me being appointed to the topjob, i hope it would encourage other women to try things that they were afraid of trying. japan has been a very, very popular destination forforeign tourists.

has demand hit the pre—covid level? and what is your outlook on that? we are now seeing more tourists than before the pandemic. the government wants visitor numbers to hit 60 million by 2030. so we would love more tourists to visit japan and go to regional areas too. but the number of japanese leaving is quite low, and that's my bigger concern. meanwhile, we got the latest growth figures out of south korea today, showing asia's fourth—largest economy grew at its fastest pace in over two years. gdp rose 3.4% year—on—year for the first quarter of the year, thanks to strong export growth and a rise in private consumption.

hey, i'm zof with the catch up. tonight — a stabbing at a welsh school, tiktok in trouble and horses on the loose. first, a teenage girl has been arrested on suspicion of attempted murder after a stabbing at a school in south—west wales. police say two teachers and a pupil are in hospital. their injuries are not life—threatening. the school in ammanford in carmarthenshire locked down at around 11:20 this morning. students were allowed out of classrooms and sent home after about four hours. police have asked people to take down pictures of the incident being shared online as they continue to investigate. there's more on the bbc news website and app. some other stories now. the mum of one of the victims of the nottingham attacks last summer has criticised messages sent by

nottinghamshire police officers. barnaby webber�*s mum called graphic whatsapp posts about the incident "abhorrent". the force said it would be inappropriate to comment. to tiktok now — the app faces a potential ban in the us over national security fears. presidentjoe biden's approved the plans which give owner bytedance nine months to sell its stake or the app will be blocked. and megan thee stallion has been accused of fat—shaming her former cameraman and having sex next to him in a car. emilio garcia says she made the working environment intolerable. her lawyers called the claims "salacious accusations". time now to leave you with 10 seconds of horses on the loose in central london. four people were hurt, but the military—owned horses which escaped near buckingham palace have thankfully now been safely caught. i mean, they arejust going for it, aren't they, with that gallop? you're all caught up now. see you later.

hello there and welcome along to sportsday with me, gavin ramjaun. a huge blow for liverpool — and a massive dent to their title ambitions after defeat in the merseyside derby to everton. bruno fernandes hauls manchester united out of trouble again against the league's bottom side at old trafford. and ronnie 0'sullivan is cruising in his first round match as he looks for a record eighth world snooker crown. hello there and welcome

along to the programme. it was always going to be tense coming into a merseyside derby,