17/04/2014 Asia Business Report

journalist who was elected in Great Grimsbsy at a 1977 by`election. Now

on BBC News all the latest business news live from Singapore.

China's version of Twitter, Weibo, is set to make its US trading debut.

Following a recent sell`off in technology stocks, how will it fare?

Thousands of Chinese factory workers continued to strike, amid growing

labour unrest. Thanks watching Asia Business Report

on ABC World News. Recasting the viewers around the world. We start

off with Chinese microblogging site Weibo. Dubbed China's Twitter, it is

set to launch in the US later today. Weibo is set to make its debut on

the tech heavy NASDAQ exchange in the US later today. But given that

technology issues that have taken a beating, can Weibo follow in its

footsteps is back? The in the short term, there are some answers. Tech

stocks have been falling, because people are aware of the Chinese

comedies and afraid of that. `` Chinese companies. Will investors

want to make a bet on Weibo, when the company lost considerable

amounts in the first quarter? After their earnings, it is just about $4

million. Investors will buy it not because of current earnings but

future monetisation potential. And what is the future monetisation

potential of Weibo? It is one of the most important sorts sources of

information dissemination in China. After MH 370, it has generated

considerable traffic. They have some missteps in the past, in their

strategy, but partnering with Ali Baba, and plans to monetise the

platform show positive steps. More news on the technology front.

Google shares have lost 6% following disappointing earnings result. It

posted a net income of 3.5 billion dollars for the three months ending

in March. Revenues were below estimates due to slower growth in

its core advertising business. IBM stock also crumbled, falling due

to worse than expected sales numbers. The world largest tech

service companies saw revenues drop. Slower than analysts forecast.

They are struggling with shrieking demand for their storage products as

more users move to use cloud computer you. And one of the better

performers was Coca`Cola, shares jumped by more than 4% during strong

sales growth in China and other emerging markets.

The world's largest beverage maker posted revenues of $10.6 billion for

the first quarter. That beats analyst estimates. They have

invested in healthier products such as fruit juice to help offset slower

sales and market such as the US. Chinese technology giant handset is

set to launch a local version of popular mobile game Candy Crush. The

free game offers players to light up colourful pansies and it is hoped

the new version will draw in millions of new users. The company

owns the rights to Candy Crush and have started to see sales of light

in the US and Europe. A big jump in first`quarter profits are expected

for ZTE, one of the world's largest technology companies. They make

mobile phones and technology equipment, and have recently changed

their business strategy after posting a big loss.

Our Hong Kong correspondent has more. Making cheap and cheerful

products. ZTE was one of many Chinese companies to take this tried

and true route to success. That strategy has made the company one of

the world's top five manufacturers of telecommunications equipment.

But in the competitive world of technology, business models which

have worked for years sometimes come quickly obsolete. Wake`up call came

in 2012, when ZTE posted its first ever annual loss. It offered low

prices in order to expand and win market share, which was no longer

making money. Since then, ZTE has focused on offering higher and

product and cutting back on products. They reported a profit

last year. It now boasts of filing more patents globally than any other

company. Investors here in Hong Kong will be poring over its

first`quarter earnings to see is the new strategy continues to be a

success. Turning down less lucrative projects in developing countries has

helped ZTE return to profit but it has also led to a decline in overall

revenue. A potentially worrying trend that investors are watching

closely. Labour disputes pop up readily in

China. But one strike is a attracting attention because of its

size. 40,000 workers walked off the job on Monday at a shoe factory. A

minority have also been involved in vocal protest. Our correspondent,

Celia Hatton, reports. We are just outside the gates of one

of the world's largest shoe factories. They assemble sneakers

for some of the top global brands. The factory is quiet, as the workers

at are all outside. They have been protesting for days, demanding

unpaid social security benefits. And they are absolutely furious. They

say they will not leave the site until the government the company pay

them the benefit of a say they deserve.

TRANSLATION: Our goal is for them to pay us the 11% social security

benefits the law requires. We also want them to compensate us for

underpaid efforts and overtime. Strikers marched through the

streets, shouting their demands on Monday until they clashed with

restless riot police. Dozens of workers were injured, some

seriously. This woman is begging for donations to pay her husband

hospital bills. He was so badly wounded in a protest that he can't

speak, she cried. Still, the violence has done little to scare a

way to workers. TRANSLATION: Until they give us compensation, we will

not leave. If we have to die here, we will. The manufacturer is

offering to pay full benefits by 2015. But the workers say that is

not enough to end the strike. As long as they stand outside the

factory gates, police will wait here too.

How many jobs have you had since you left school? According to a new

report, millennial 's will be changing jobs more than previous

generations. Younger workers expect to work for 13 different employees

over their career which works out to an average of about three years per

job. What's more? Strong economic growth in Asia means workers here

even less likely to with their current job. We are some younger

workers in India about their future plans. Since I left school, this is

my second job. I have started a business of my own. I would not want

to go back to a job. I will stick with the same job, unless there is

no reason in salary. I think saturation at one job would be one

reason for changing. Earlier I spoke to Brad Adams and asked which

sectors are most affected by job hopping. Financial services, during

during bonus seasons, also sales in Asia as well is digital market with

emerging skills, regardless of what industry you are in, everybody is a

technology company in one way or another.

That is a high turnover, high demand area as well. Is it advisable to

move from job to job in this current economic environment? It can be good

as well as bad. As an employee, in your career, professionally, on the

upside, you can command a significant switching premium to

walk across the street to work for another company. How much of a

premium? Depending on who you are, anywhere from ten to 20%. Compared

with 2.5% annual pay increase. So significant economics to another

company or pointed with the same company for another year.

Asian stocks are mostly higher ahead of the Easter weekend. Thank you so

much for investing your time with us. I Rico Hizon.

The main news stories is out. Families are continuing their wait

for news of those still missing when a ferry capsized off South Korea.