:00:00. > :00:00.over plans to cut nearly a thousand jobs will continue until Thursday
:00:00. > :00:16.night. Now on BBC News all the latest business news live from
:00:17. > :00:19.Singapore. Shares plunge after the social
:00:20. > :00:26.website unveiled worse than expected profit and slowing growth.
:00:27. > :00:34.China 's the mad for commodity spurs new industry in Africa. -- demand.
:00:35. > :00:39.Welcome to World Business Report, I am Rico Hizon. We kick off with
:00:40. > :00:44.Twitter and shares at the website lunged nearly 30% in US trade after
:00:45. > :00:49.posting a disappointing earnings report. Its first since going public
:00:50. > :00:55.in November. It logged a loss of more than $500 million which is more
:00:56. > :01:00.than double analysts expected. It said user growth was slowing down.
:01:01. > :01:10.Twitter faces competition here, the first is -- it is banned in China.
:01:11. > :01:18.In Japan, caddie line is the most popular messaging service. -- Line.
:01:19. > :01:26.We went to find out why Twitter is not so popular amongst Seoul 's
:01:27. > :01:30.residents. TRANSLATION: I don't use Twitter because there isn't much I
:01:31. > :01:34.feel I need to share with other people. Twitter might be well
:01:35. > :01:46.known, but most of my friends don't use it. So neither do I. I'm not a
:01:47. > :01:51.user of Twitter, neither do I use other network services. Privacy is
:01:52. > :01:57.important to me. People postings on what they have done where they have
:01:58. > :02:05.been, and I do like the idea -- don't. I spoke to Rhys firm in San
:02:06. > :02:11.Francisco and asked for his thoughts on Twitter 's performance. The
:02:12. > :02:19.question isn't the user group and that's not the that worries me, the
:02:20. > :02:25.real issue is, can they continue to grow the number of timeline views
:02:26. > :02:32.per monthly at the views are? That number has been down the last 2/4 in
:02:33. > :02:41.a row. What should Twitter do to refresh its service? Twitter have
:02:42. > :02:50.been talking about the right decisions and in its earnings calls
:02:51. > :02:53.today, the CEO commented they are looking to make content more
:02:54. > :02:57.engaging, adding richer experiences. They commented on the
:02:58. > :03:02.introduction of conversation view. But for each of those changes, you
:03:03. > :03:05.need to be paying attention to, do they make people more likely to
:03:06. > :03:15.consume more content and spend more time on the property... It is having
:03:16. > :03:18.a problem in this part of the world, particularly East Asia, are they
:03:19. > :03:24.missing out on the most connected countries in the region? I don't
:03:25. > :03:29.know if they are missing out but it is the case that, like many US
:03:30. > :03:34.-based companies, they are slower to grow internationally than they have
:03:35. > :03:38.been in the US. That is in terms of numbers and advertising. What should
:03:39. > :03:47.they do? Were to be their strategy for Asia? In Asia, it will be a
:03:48. > :03:52.question of whether they can update their offerings passed the static
:03:53. > :03:59.140 characters of content so that people think this is a great base
:04:00. > :04:04.for me to spend time. The Australian dollar is trading at a two week high
:04:05. > :04:11.after the country released positive retail sales and trade state. The
:04:12. > :04:16.sales rose by .9% in December compared to other levels, showing
:04:17. > :04:22.consumer spending is on the uptake. It moved into its biggest surplus in
:04:23. > :04:29.two years, due to higher than expected export numbers. Disney 's
:04:30. > :04:36.box office hit Frozen has powered the company to better-than-expected
:04:37. > :04:40.numbers. It lifted net income by 33% from the year earlier to 1.8 billion
:04:41. > :04:47.dollars in the three months to December. Walt Disney gained shares
:04:48. > :04:53.of nearly 2% in extended US trading. Coca-Cola is buying a 10% stake in
:04:54. > :04:58.the US coffee remake Greenmount in. The giant will play one point to $5
:04:59. > :05:04.billion in shares in the company which makes driver label coffee and
:05:05. > :05:13.will release cold beverage machines. China 's appetite for commodities
:05:14. > :05:17.and -- in African investment is well-known. They are Africa 's
:05:18. > :05:27.biggest investor but it is not just confined to the mining industry as
:05:28. > :05:32.our reporter out. She asked why a telecommunications
:05:33. > :05:41.company is in Africa 's largest conference in Cape Town. It is here
:05:42. > :05:47.to launch the first ever, not in South Africa, but locally. The first
:05:48. > :05:54.ever end to end mining Communications solution. We can
:05:55. > :06:02.deliver data, voice and video on one platform. The whole multimedia
:06:03. > :06:06.system on one platform. We are a telecommunication company and we
:06:07. > :06:13.have been operating in South Africa to 12 years, but three years ago
:06:14. > :06:21.while we decided to restructure the business strategy, we began the
:06:22. > :06:26.enterprise business groups. We are here today... The enterprise space
:06:27. > :06:30.is where we supply a communications solutions to various industries like
:06:31. > :06:36.transport, energy and mining. That's why we're here today. Is talk about
:06:37. > :06:40.the fact that China is perceived to be largely an investor in mining and
:06:41. > :06:46.extract differential resources, and not in telecoms. Have you deal with
:06:47. > :06:48.that perception? I want Lee know that the prospective and you will
:06:49. > :06:56.hear this in the mining in doubt after, -- to let you know, all
:06:57. > :07:01.mining companies are concentrating on mechanisation. People are talking
:07:02. > :07:06.about efficiency. They are talking about increased production. Now
:07:07. > :07:10.talking about integrating various operations of the company. We think
:07:11. > :07:16.that to be able to do all of that, you need communication. You need
:07:17. > :07:22.technology. We believe we are here today, not only to do all these
:07:23. > :07:27.things and improve and transform the mining industry. Thank you for your
:07:28. > :07:34.time. As you can see, lots of gadgets behind me as investors are
:07:35. > :07:39.urged to test this new technology. Telcos players are riding the crest
:07:40. > :07:44.of the mining boom that exists in Africa and the Chinese are seeing
:07:45. > :07:50.the synergies between the mining investments, telecoms investments
:07:51. > :07:54.and other areas. It is day two of the Delhi auto show
:07:55. > :07:59.but the industry has been feeling the effects of a slowdown will stop
:08:00. > :08:04.you see the prospect of a turnaround before national elections why the
:08:05. > :08:09.end of May. Our correspondent went to the expo to engage the mood of
:08:10. > :08:19.the companies they are. -- their smack. It would be hard to
:08:20. > :08:23.believe the Indian car industry is going through its worst phase in
:08:24. > :08:28.over a decade. Hereat the India auto show you would think that carmakers
:08:29. > :08:33.would be worried about the slump in demand, but right now most
:08:34. > :08:39.manufacturers are focused on the long-term potential of the Indian
:08:40. > :08:46.market. Despite the fanfare, India 's largest automaker has had a tough
:08:47. > :08:50.year. Increased competition from global manufacturers has hit sales.
:08:51. > :08:59.The company says the good news is in rural India. We tried to target
:09:00. > :09:08.100,000 villagers. Next year we will do more. This kind of development is
:09:09. > :09:18.important. That is our vision for the company. They want to deliver
:09:19. > :09:21.cars for the whole Indian people. Not everyone is doing badly. The
:09:22. > :09:28.luxury car market is expanding rapidly. It is still a small segment
:09:29. > :09:34.of customers, though. As demand in Europe goes down steadily, most
:09:35. > :09:39.companies expect India to do well. We see the market in the first half
:09:40. > :09:43.of the year being relatively flat, but post- elections, we will see a
:09:44. > :09:50.spurt and expect the market to grow at a similar pace to laugh year --
:09:51. > :09:53.last year. We plan to exceed that growth and we are looking forward to
:09:54. > :09:59.a great year. Cars can be made at a third of the cost of US and other
:10:00. > :10:03.markets. Relatively low labour costs and engineering skills mean
:10:04. > :10:08.companies are still investing here. Not just to manufacture more models
:10:09. > :10:11.locally, but to source of confidence from local vendors. Despite the
:10:12. > :10:20.slump in sales, no one is leaving India just yet.
:10:21. > :10:25.Let's look at the markets. Asian share prices are bouncing high. The
:10:26. > :10:31.gains despite US equities closing slightly lower overnight. Thank
:10:32. > :10:41.you. I'm Rico Hizon. Sport today is up next. I Mike Embley in London
:10:42. > :10:45.with the main news stories. The Catholic Church has been criticised
:10:46. > :10:46.by a UN committee which says it allowed Rees