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over plans to cut nearly a thousand jobs will continue until Thursday | :00:00. | :00:00. | |
night. Now on BBC News all the latest business news live from | :00:00. | :00:16. | |
Singapore. Shares plunge after the social | :00:17. | :00:19. | |
website unveiled worse than expected profit and slowing growth. | :00:20. | :00:26. | |
China 's the mad for commodity spurs new industry in Africa. -- demand. | :00:27. | :00:34. | |
Welcome to World Business Report, I am Rico Hizon. We kick off with | :00:35. | :00:39. | |
Twitter and shares at the website lunged nearly 30% in US trade after | :00:40. | :00:44. | |
posting a disappointing earnings report. Its first since going public | :00:45. | :00:49. | |
in November. It logged a loss of more than $500 million which is more | :00:50. | :00:55. | |
than double analysts expected. It said user growth was slowing down. | :00:56. | :01:00. | |
Twitter faces competition here, the first is -- it is banned in China. | :01:01. | :01:10. | |
In Japan, caddie line is the most popular messaging service. -- Line. | :01:11. | :01:18. | |
We went to find out why Twitter is not so popular amongst Seoul 's | :01:19. | :01:26. | |
residents. TRANSLATION: I don't use Twitter because there isn't much I | :01:27. | :01:30. | |
feel I need to share with other people. Twitter might be well | :01:31. | :01:34. | |
known, but most of my friends don't use it. So neither do I. I'm not a | :01:35. | :01:46. | |
user of Twitter, neither do I use other network services. Privacy is | :01:47. | :01:51. | |
important to me. People postings on what they have done where they have | :01:52. | :01:57. | |
been, and I do like the idea -- don't. I spoke to Rhys firm in San | :01:58. | :02:05. | |
Francisco and asked for his thoughts on Twitter 's performance. The | :02:06. | :02:11. | |
question isn't the user group and that's not the that worries me, the | :02:12. | :02:19. | |
real issue is, can they continue to grow the number of timeline views | :02:20. | :02:25. | |
per monthly at the views are? That number has been down the last 2/4 in | :02:26. | :02:32. | |
a row. What should Twitter do to refresh its service? Twitter have | :02:33. | :02:41. | |
been talking about the right decisions and in its earnings calls | :02:42. | :02:50. | |
today, the CEO commented they are looking to make content more | :02:51. | :02:53. | |
engaging, adding richer experiences. They commented on the | :02:54. | :02:57. | |
introduction of conversation view. But for each of those changes, you | :02:58. | :03:02. | |
need to be paying attention to, do they make people more likely to | :03:03. | :03:05. | |
consume more content and spend more time on the property... It is having | :03:06. | :03:15. | |
a problem in this part of the world, particularly East Asia, are they | :03:16. | :03:18. | |
missing out on the most connected countries in the region? I don't | :03:19. | :03:24. | |
know if they are missing out but it is the case that, like many US | :03:25. | :03:29. | |
-based companies, they are slower to grow internationally than they have | :03:30. | :03:34. | |
been in the US. That is in terms of numbers and advertising. What should | :03:35. | :03:38. | |
they do? Were to be their strategy for Asia? In Asia, it will be a | :03:39. | :03:47. | |
question of whether they can update their offerings passed the static | :03:48. | :03:52. | |
140 characters of content so that people think this is a great base | :03:53. | :03:59. | |
for me to spend time. The Australian dollar is trading at a two week high | :04:00. | :04:04. | |
after the country released positive retail sales and trade state. The | :04:05. | :04:11. | |
sales rose by .9% in December compared to other levels, showing | :04:12. | :04:16. | |
consumer spending is on the uptake. It moved into its biggest surplus in | :04:17. | :04:22. | |
two years, due to higher than expected export numbers. Disney 's | :04:23. | :04:29. | |
box office hit Frozen has powered the company to better-than-expected | :04:30. | :04:36. | |
numbers. It lifted net income by 33% from the year earlier to 1.8 billion | :04:37. | :04:40. | |
dollars in the three months to December. Walt Disney gained shares | :04:41. | :04:47. | |
of nearly 2% in extended US trading. Coca-Cola is buying a 10% stake in | :04:48. | :04:53. | |
the US coffee remake Greenmount in. The giant will play one point to $5 | :04:54. | :04:58. | |
billion in shares in the company which makes driver label coffee and | :04:59. | :05:04. | |
will release cold beverage machines. China 's appetite for commodities | :05:05. | :05:13. | |
and -- in African investment is well-known. They are Africa 's | :05:14. | :05:17. | |
biggest investor but it is not just confined to the mining industry as | :05:18. | :05:27. | |
our reporter out. She asked why a telecommunications | :05:28. | :05:32. | |
company is in Africa 's largest conference in Cape Town. It is here | :05:33. | :05:41. | |
to launch the first ever, not in South Africa, but locally. The first | :05:42. | :05:47. | |
ever end to end mining Communications solution. We can | :05:48. | :05:54. | |
deliver data, voice and video on one platform. The whole multimedia | :05:55. | :06:02. | |
system on one platform. We are a telecommunication company and we | :06:03. | :06:06. | |
have been operating in South Africa to 12 years, but three years ago | :06:07. | :06:13. | |
while we decided to restructure the business strategy, we began the | :06:14. | :06:21. | |
enterprise business groups. We are here today... The enterprise space | :06:22. | :06:26. | |
is where we supply a communications solutions to various industries like | :06:27. | :06:30. | |
transport, energy and mining. That's why we're here today. Is talk about | :06:31. | :06:36. | |
the fact that China is perceived to be largely an investor in mining and | :06:37. | :06:40. | |
extract differential resources, and not in telecoms. Have you deal with | :06:41. | :06:46. | |
that perception? I want Lee know that the prospective and you will | :06:47. | :06:48. | |
hear this in the mining in doubt after, -- to let you know, all | :06:49. | :06:56. | |
mining companies are concentrating on mechanisation. People are talking | :06:57. | :07:01. | |
about efficiency. They are talking about increased production. Now | :07:02. | :07:06. | |
talking about integrating various operations of the company. We think | :07:07. | :07:10. | |
that to be able to do all of that, you need communication. You need | :07:11. | :07:16. | |
technology. We believe we are here today, not only to do all these | :07:17. | :07:22. | |
things and improve and transform the mining industry. Thank you for your | :07:23. | :07:27. | |
time. As you can see, lots of gadgets behind me as investors are | :07:28. | :07:34. | |
urged to test this new technology. Telcos players are riding the crest | :07:35. | :07:39. | |
of the mining boom that exists in Africa and the Chinese are seeing | :07:40. | :07:44. | |
the synergies between the mining investments, telecoms investments | :07:45. | :07:50. | |
and other areas. It is day two of the Delhi auto show | :07:51. | :07:54. | |
but the industry has been feeling the effects of a slowdown will stop | :07:55. | :07:59. | |
you see the prospect of a turnaround before national elections why the | :08:00. | :08:04. | |
end of May. Our correspondent went to the expo to engage the mood of | :08:05. | :08:09. | |
the companies they are. -- their smack. It would be hard to | :08:10. | :08:19. | |
believe the Indian car industry is going through its worst phase in | :08:20. | :08:23. | |
over a decade. Hereat the India auto show you would think that carmakers | :08:24. | :08:28. | |
would be worried about the slump in demand, but right now most | :08:29. | :08:33. | |
manufacturers are focused on the long-term potential of the Indian | :08:34. | :08:39. | |
market. Despite the fanfare, India 's largest automaker has had a tough | :08:40. | :08:46. | |
year. Increased competition from global manufacturers has hit sales. | :08:47. | :08:50. | |
The company says the good news is in rural India. We tried to target | :08:51. | :08:59. | |
100,000 villagers. Next year we will do more. This kind of development is | :09:00. | :09:08. | |
important. That is our vision for the company. They want to deliver | :09:09. | :09:18. | |
cars for the whole Indian people. Not everyone is doing badly. The | :09:19. | :09:21. | |
luxury car market is expanding rapidly. It is still a small segment | :09:22. | :09:28. | |
of customers, though. As demand in Europe goes down steadily, most | :09:29. | :09:34. | |
companies expect India to do well. We see the market in the first half | :09:35. | :09:39. | |
of the year being relatively flat, but post- elections, we will see a | :09:40. | :09:43. | |
spurt and expect the market to grow at a similar pace to laugh year -- | :09:44. | :09:50. | |
last year. We plan to exceed that growth and we are looking forward to | :09:51. | :09:53. | |
a great year. Cars can be made at a third of the cost of US and other | :09:54. | :09:59. | |
markets. Relatively low labour costs and engineering skills mean | :10:00. | :10:03. | |
companies are still investing here. Not just to manufacture more models | :10:04. | :10:08. | |
locally, but to source of confidence from local vendors. Despite the | :10:09. | :10:11. | |
slump in sales, no one is leaving India just yet. | :10:12. | :10:20. | |
Let's look at the markets. Asian share prices are bouncing high. The | :10:21. | :10:25. | |
gains despite US equities closing slightly lower overnight. Thank | :10:26. | :10:31. | |
you. I'm Rico Hizon. Sport today is up next. I Mike Embley in London | :10:32. | :10:41. | |
with the main news stories. The Catholic Church has been criticised | :10:42. | :10:45. | |
by a UN committee which says it allowed Rees | :10:46. | :10:46. |