live from london. this is bbc news. tech tantrum. almost $200 billion wiped off the value of meta, the owner of facebook and instagram, after its forecasts worry wall street, raising fears its huge investment in al may not pay off. also coming up, mining mega merger? britain's anglo american says it's received a buyout proposal from giant australian rival bhp. plus, the world's biggest economyjust keeps getting bigger, but is it finally slowing down? investors brace for the latest growth figures from the us, they could be key to hopes of a cut in interest rates. and, upskill or get left behind. more than half of the world's employees need to retrain for a changing workplace, according to the world economic forum. are you one of them?

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. let's 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. that's more than double the amount it made this time last year, and better than expected. but here's 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 quarter earnings 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 doesn't 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 don't 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 we're 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. let's 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? anglo-americans have been

approached _ this? anglo-americans have been approached by _ this? anglo-americans have been approached by bhp _ this? anglo-americans have been approached by bhp about - this? anglo-americans 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, i'm 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 choosing united 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.

let's return to the us, because in a few hours time we will find out if the world's 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? i'm never popular when i sa this autumn? i'm never popular when i say this but _ autumn? i'm never popular when i say this but i — autumn? i'm never popular when i say this but i don't _ autumn? i'm never popular when i say this but i don't see - autumn? i'm never popular when i say this but i don't see them . i say this but i don't 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. let's get some of the day's other news now. the uk's opposition labour party says it plans to re—nationalise the country's 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 government has called the plan unfunded and �*pointless�* and warns it will mean tax rises. apple lost its crown as china's biggest smartphone seller in the first quarter of 2024 according to preliminary data from research firm idc. chinese firms honor and huawei were tied for the top spot, with honor�*s market share

rising to 17.1% and huawei's share climbing to 17%, while the iphone maker's market share fell to 15.6%. coming up, from flight attendant to ceo. the first female boss ofjapan airlines talks gender stereotypes, and how crew training saved the lives of 367 passengers earlier this year. around the world and across the uk. this is bbc news.

to japan now, where the national airline sent shockwaves around the country earlier this year when it appointed mitsuko tottori, a former flight attendant, as its first ever female president and ceo.

fewer than 1% of japan's top firms are run by women. japan airlines was in the headlines again soon afterwards, following a runway collision at haneda airport, when one of its jets was hit by a coastguard plane. its crew training was widely praised after all passengers were safely evacuated from the burning aircraft. my colleague mariko 0i has been speaking to mitsuko tottori, the chief executive of japan airlines and started by asking her about the incident. translation: i remember being so relieved to hear they managed to evacuate. as for training, we do vigorous training, we do vigorous training each year using all sorts of real—life experiences. for example, the evacuation this time was credited to passengers not taking their backs and we learnt from past experience so we emphasised the importance of leaving the bags.

new appointment has received a lot of attention because you are the first female president ofjapan airlines and also the first formerflight ofjapan airlines and also the first former flight attendant to get the top job. reports even describing it as an multiple, as a field to be in the spotlight because of your gender and background? i didn't know about _ gender and background? i didn't know about and _ gender and background? i didn't know about and alien _ gender and background? i didn't know about and alien molecule, | know about and alien molecule, i don't think of myself as the first woman or first former flight attendant, i want to act as an individual. i did not expect to get this much attention.— expect to get this much attention. ., ., ,., , attention. one of the reasons there are _ attention. one of the reasons there are a — attention. one of the reasons there are a spotlight - attention. one of the reasons there are a spotlight on - attention. one of the reasonsj there are a spotlight on youth 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% of japan's top to listed companies have female presidents or ceos. in your view, female presidents or ceos. in yourview, canjapan female presidents or ceos. in your view, canjapan achieve your view, can japan achieve its your view, canjapan achieve its women �*s target and what

needs to be done about it? it is hard to say. i hope japan can achieve the target but we have to take it very seriously. it is notjust about have to take it very seriously. it is not just 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? your knowledge of the internal workinus? ., , your knowledge of the internal workinus? . , ., workings? early i said i want to act as _ workings? early i said i want to act as an _ workings? early i said i want to act as an individual- workings? early i said i want to act as an individual but i l to act as an individual but i realise the public or our employees do not necessarily look at me like that. my appointment proves the commitment to diversity and by me being appointed to the top job, i hope it will encourage other women to try things they

were afraid of trying.— were afraid of trying. japan has been — were afraid of trying. japan has been a _ were afraid of trying. japan has been a very _ were afraid of trying. japan has been a very popular. has been a very popular destination forforeign destination for foreign tourists. as destination forforeign tourists. as demand hit the covid level and what is your outlook?— covid level and what is your outlook? ., ., , ., outlook? we are now seeing more tourists than _ outlook? we are now seeing more tourists than before _ outlook? we are now seeing more tourists than before the _ tourists than before the pandemic. the government wants visitor numbers to hit 60 million x 2030. we would love more tourists to visit japan and go to regional areas as well. but the number of japanese leaving is quite low. that is my bigger concern. the president and ceo ofjapan airlines there. finally, the world of work is changing fast, we are being told constantly, with the rise of ai and automation affecting how many of us will do ourjobs. but do you have the rights skills to adapt? most of us don't, according to the world. it says more than half of all employees around the world need to upskill or reskill by 2025 because of new technology.

so how do you do that? greg brown is chief executive of udemy, an online skills and learning platform. log into the programme. i hope i pronounced the company name correctly. i pronounced the company name correctl . ., , ., ., , correctly. you did. great to be with you- _ correctly. you did. great to be with you. good. _ correctly. you did. great to be with you. good. i— correctly. you did. great to be with you. good. i had - correctly. you did. great to be with you. good. i had a - correctly. you did. great to be with you. good. i had a look i correctly. you did. great to be| with you. good. i had a look at the website, _ with you. good. i had a look at the website, hundreds - with you. good. i had a look at the website, hundreds of- the website, hundreds of courses available and i was sort of checking it out thinking, no, don't want to decoding, lots of it stuff that ijust decoding, lots of it stuff that i just really want to run a mile from. how do you know what is good and what is bad in terms of up skilling and where you should go? such a minefield. in you should go? such a minefield.— minefield. in fact, our marketplace - minefield. in fact, our marketplace we - minefield. in fact, our marketplace we are i minefield. in fact, our i marketplace we are over minefield. in fact, our _ marketplace we are over 220,000 courses on the marketplace in which year 8 a subset of those courses and bring those two organisations from the smallest organisations from the smallest organisations in the world to fortune 50 companies. we do a greatjob, ourteam fortune 50 companies. we do a greatjob, our team does a

greatjob, our team does a greatjob, our team does a greatjob and the platform, taking a look at the website, personalising the learning, delivering a curated learning pad based on the specific skills you want to develop whether it be learn how to cook sourdough bread or whether to what had to be the next aws developer. every curated experience want to get into the platform have an opportunity to take it for a drive. it is platform have an opportunity to take it for a drive.— take it for a drive. it is the problem- _ take it for a drive. it is the problem. we _ take it for a drive. it is the problem. we are - take it for a drive. it is the problem. we are all - take it for a drive. it is the problem. we are all very l take it for a drive. it is the - problem. we are all very keenly aware because we are told all the time that we need to re— skill, the world of work will change radically especially when ai really does take hold. where do you begin? especially if you are of a certain age when you perhaps feel quite nervous and insecure about learning new skills. i nervous and insecure about learning new skills.- learning new skills. i will sa , learning new skills. i will say. as _ learning new skills. i will say. as a _ learning new skills. i will say, as a baseline - learning new skills. i will. say, as a baseline statement for organisations, it is a strategic imperative today that they are investing and the

capability to enable employees to develop the skills for them to develop the skills for them to keep up with the pace of change. for us in the organisation, it really starts with the partnership that we bring, to enable that to happen from the discovery phase all the way through the school department and validation at the end. that really is the same for individuals. depending on what your chosen career path is, or discipline or domain you are interested in, we do a nice job of enabling you to go through discovery process and develop a personalised learning path. we help you along the way, we have ai ourselves built into the platform to give you the ability to ask questions that may be of interest as you think about the skills you want to develop personal and professional purposes. you are for a fortune — professional purposes. you are for a fortune 500 _ professional purposes. you are for a fortune 500 company - professional purposes. you are j for a fortune 500 company and if they have hired your company to risk employers that is brilliant but if you work for an organisation where they were just replace it with a robot

and are unemployed, you are stuck, aren't you?— and are unemployed, you are stuck, aren't you? actually no. in fact, stuck, aren't you? actually no. in fact. one — stuck, aren't you? actually no. in fact, one of— stuck, aren't you? actually no. in fact, one of the _ stuck, aren't you? actually no. in fact, one of the things - stuck, aren't you? actually no. in fact, one of the things we i in fact, one of the things we strongly advocate is for individuals and organisations within the specific example, individuals, to get ahead of the curve and keep up with the pace of change by understanding where the trend is going in your chosen job where the trend is going in your chosenjob or where the trend is going in your chosen job or discipline. and coming onto our platform. educating and enabling yourself to the skills necessary to take the next step, either in your chosen career of discipline or another direction. it is like keeping up with pace of change whether or not you are an individual or an organisation serving hundreds of thousands of employees. i know ai is scary for a lot of folks but the reality is it is here. it is an opportunity to take advantage of the power to reinvent yourself and for organisations to reinvent the products and services they bring to market this was how they operate. irate bring to market this was how they operate-— they operate. we are out of time. thank— they operate. we are out of time. thank you _ they operate. we are out of time. thank you for - they operate. we are out of time. thank you forjoiningl they operate. we are out of.

time. thank you forjoining us. talking us through the change in the world of work. thank you for your company can have a good day. hello there. some really chilly—feeling air for the time of year, and it's going nowhere for the next couple of days. but of course, the sunshine's helping to lift the temperature somewhat. lots of blue sky across many parts of scotland, 13 celsius in edinburgh, butjust seven degrees for these north sea facing coasts such as scarborough. lots of clouds, and a brisk, a bitter northerly wind blowing, too. and as we head through the rest of tonight, there's a little feature running southwards bringing the threat of some further showers, possibly wintry over the hills of scotland. temperatures dipping very close to freezing into thursday morning. watch out for some icy stretches perhaps. and it's still blustery for those north sea—facing coasts, and across the northern isles as well. a mixture of sunny spells, but also some showers across many northern areas of england, scotland and northern ireland.

more cloud and some showers pushing southwards across england and wales. temperatures again towards the east, just 8—10 degrees celsius, but a little milder again further south and west. now, as we head through thursday night, then there'll be a lot of clear spells around. again, it's another cold feeling night for the time of year, the snow levels again dropping across parts of scotland. another frost for many of us as we head into friday morning. again, watch out for some icy stretches here and there. friday, we'll start to see a few changes. this area of low pressure starts to push in to south west england, affecting parts of the channel islands as well, bringing some more showery outbreaks of rain here. and the winds will fall lighter as well, so it won't feel quite so bitterly cold towards those north sea facing coast. but still, the bulk of the showers will be here. a scattering of showers, also some sunny spells, probably sunniest out towards the north and the west again. but temperatures still very low for the time of year, below the average, 8—12 degrees celsius for most of us. things are set to turn a little less cold, though, as we head through the weekend. some milderfeeling air.

and it's going to be quite unsettled, tending to be drier in the north and the west. so, if we just look at this low pressure system. it's spinning in from the south. it's going to give plenty of wet weather, particularly towards the south and the east, but also some milder feeling conditions. temperatures will rise to more or less the seasonal average. so certainly no heat wave. here's the temperature outlook for our capital cities as we head through the weekend and into the start of next week. so not as cold, but really quite showery. bye— bye.

good morning. welcome to breakfast with charlie stayt and naga munchetty. our headlines today... the senior executive at the centre of the post office scandal, who was criticised for giving misleading evidence in court, will face questions at the post office inquiry today. a teenage girl has been arrested on suspicion of attempted murder after three people were injured in a school stabbing in ammanford in wales. labour promises to overhaul the rail system if it wins the next election — including nationalising the train network within five years of coming to power. a major study has put england at the top of a global chart for alcohol use among school children.

a massive blow to liverpool's premier league title hopes