:00:00. > :00:17.The BBC has seen a copy of Labour's draft manifesto which has been
:00:18. > :00:21.leaked ahead of its publication next week.
:00:22. > :00:44.It includes plans to nationalise parts of the energy industry
:00:45. > :00:52.Shares in the company that owns flat chat plunge. And we going to link to
:00:53. > :01:02.some advice from one of Singapore 's most unusual entrepreneurs. It is a
:01:03. > :01:15.Thursday, everyone. Good morning, Asia and hello, world. What a crash!
:01:16. > :01:19.Shares in Snap, parent company of Snapchat have fallen over 20% in
:01:20. > :01:23.after hours trading on Wall Street. This pitfall comes after they
:01:24. > :01:27.reported losses of over $2 billion US in its first quarterly results.
:01:28. > :01:32.What happened after its redhot share sale in March? Earlier our
:01:33. > :01:38.correspondent told us how it went from being a market darling to being
:01:39. > :01:42.shunned by investors. In the latest earning reports Snapchat has grown
:01:43. > :01:46.by less than 5% which is not enough to keep anyone happy. Revenue has
:01:47. > :01:52.not been high enough and, like you said, they had a huge loss. So while
:01:53. > :01:56.that was big hope that they could provide competition to Facebook in
:01:57. > :01:59.the future on this early evidence, the first real test of their
:02:00. > :02:09.business potential, it seems they have not managed to do that. The bad
:02:10. > :02:12.news is piling up. Any word from the bosses to appease shareholders? One
:02:13. > :02:18.of the investors on their earnings quarter after the results were
:02:19. > :02:21.published was asked if there were any products coming down the line of
:02:22. > :02:25.the already product they could get excited about and quite friendly
:02:26. > :02:28.there was no answer. They have come up with creative and innovative
:02:29. > :02:36.things but nothing too specific. He was also asked whether he was asked
:02:37. > :02:41.-- worried about Facebook. His maiden comparison. Is there just
:02:42. > :02:47.because Yahoo! Put our search engine on its website did not make it
:02:48. > :02:50.Google. The suggestion is that because Facebook is steeling the
:02:51. > :02:59.ideas of Snapchat it does not make it Snapchat. Our correspondent there
:03:00. > :03:04.are in San Francisco. Investors will be keeping a close eye on Japanese
:03:05. > :03:10.car maker listen's results which will be out later today following a
:03:11. > :03:13.dismal performance from its competitor, Toyota. The second
:03:14. > :03:20.largest carmaker in the world saw a drop in full-year profits to $16
:03:21. > :03:24.billion US. The forecast is for more pain to come with the cost of
:03:25. > :03:33.customer incentives for sales in North America and a strong yen
:03:34. > :03:35.against the US dollar. We have our correspondent explains the
:03:36. > :03:41.challenges that these carmakers are facing. The CEO of Toyota said he
:03:42. > :03:46.senses a sense of crisis at this point. The Japanese automakers are
:03:47. > :03:51.getting pinched at both ends. The yen is crushing their earnings and
:03:52. > :03:55.on the other end key markets like the United States are starting to
:03:56. > :04:01.slow down. Those are traditionally their cash cow markets, so they are
:04:02. > :04:07.getting pinched on both ends. For how much it longer will these cost
:04:08. > :04:12.impact profitability? We should see them rolling to an end here, the
:04:13. > :04:16.impact. The airbag recalls are under control for the time being, there
:04:17. > :04:20.may be a few lingering recalls that over the next few years but the main
:04:21. > :04:29.cost for those has already been booked. That was the order the
:04:30. > :04:35.editor in Japan. At different story for Softbank. Posted their
:04:36. > :04:40.second-best annual profits, with operating profitability for the year
:04:41. > :04:47.rising 15% to $9 billion US. It follows cost-cutting and the rise in
:04:48. > :04:56.subscribers although its US mobile business in the US, Sprint. SoftBank
:04:57. > :05:02.confirms a $5 billion investment in the Uber of China. New data from
:05:03. > :05:06.South Korea shows the jobless rate rising slightly in April to just
:05:07. > :05:09.over Quattro%. This is in the midst of a protracted slump in the
:05:10. > :05:15.manufacturing sector. The new President of South Korea has set a
:05:16. > :05:19.priority to create more than 800,000 jobs in the public sector. Profits
:05:20. > :05:25.at 21st century Fox addict in the first three months of the year,
:05:26. > :05:28.weighed down by flat cable advertising sales and less
:05:29. > :05:32.successful movie releases. The company made about $800 million in
:05:33. > :05:40.profits. 5% down from the same period last year. Has the battle for
:05:41. > :05:45.eyeballs heats up with on demand platforms like Netflix, Amazon
:05:46. > :05:51.Prime, cable TV businesses have a difficult fight on their hands. Here
:05:52. > :05:55.in Asia the largest international TV networks is three times the size of
:05:56. > :06:03.its nearest competitor. As part of our new segment I spoke with the
:06:04. > :06:07.president of Asia-Pacific and the Middle East. It is all about content
:06:08. > :06:11.and having the best content. We are known for this and we have doing it
:06:12. > :06:15.for decades, telling the best stories from around the world beat
:06:16. > :06:19.in the form of TV shows, movies, sport, documentary we have it all.
:06:20. > :06:24.And what we are doing now is bringing that content to our
:06:25. > :06:32.consumers any way they want anywhere they want. Some live, some on
:06:33. > :06:35.demand. The original platform of Fox has been cable. Will there be
:06:36. > :06:44.obsolete and everything shifted to on demand? We believe that cable
:06:45. > :06:47.serves a great purpose. It provides amazing first-time content live to
:06:48. > :06:51.consumers. It provides great brands. It is a question of whether we can
:06:52. > :06:56.now provide that in a user-friendly manner to streaming services.
:06:57. > :07:04.Ultimately you will come down to the content. Our acquisitions the route
:07:05. > :07:08.to challenging competition such as Netflix, Amazon and Google? We
:07:09. > :07:14.leader in this segment but we are open to acquisition. We acquired SBS
:07:15. > :07:24.then sports a few years ago. We back ourselves. Fox is a great way to get
:07:25. > :07:28.new subscribers for new experiences. What other acquisitions are you
:07:29. > :07:33.looking out for the complementary existing service? We are always
:07:34. > :07:37.looking. It could be in production, in delivery, but, really, it is
:07:38. > :07:42.about bringing the best content to our consumers live, be it in or
:07:43. > :07:48.entertainment. What is your vision over the next five years for video
:07:49. > :07:59.on demand or streaming services? It is a great way to reach uncapped
:08:00. > :08:04.audiences. There are hundreds many people who have yet to experience
:08:05. > :08:15.pay television. Thank you so much for joining us. From one CEO to
:08:16. > :08:20.another and one of the best-known entrepreneurs in Singapore started
:08:21. > :08:26.as a hairdresser in London. She has business advice for anyone willing
:08:27. > :08:38.to listen. We joined her one morning for fishing and a bite to eat.
:08:39. > :08:46.Fishing is inspirational for me now. I started fishing in nine years ago
:08:47. > :08:52.and now every morning I want to fish. It brings a passion and
:08:53. > :08:59.excitement in what I want to do. Fishing is a good method for
:09:00. > :09:04.business. When you fish you must be ready. You must be ready with all of
:09:05. > :09:11.your equipment, and your bait, your lower, it must all be well prepared.
:09:12. > :09:20.Thank you for inviting me for breakfast. Welcome. We all have
:09:21. > :09:32.breakfast just behind us. This morning we are having nasi lemak
:09:33. > :09:36.with Chile. I began as a hairstylist and I was wearing all of the things
:09:37. > :09:40.I was used to buy and when I was living in London. People used to
:09:41. > :09:48.tell me that they liked my bracelet, and I would sell it on the spot. I
:09:49. > :09:54.then started selling and importing things from London and that is how I
:09:55. > :10:00.started. And then I got into Doctor Martin shoes and were studied making
:10:01. > :10:06.money once we started selling them. Blue hair. It is unusual in
:10:07. > :10:11.Singapore. What do you say to people who think you are a maverick and
:10:12. > :10:15.that is what has helped to succeed? I always believed that entrepreneurs
:10:16. > :10:20.are delinquents in a way and we cannot take no for an answer and we
:10:21. > :10:29.go for it and do it to improve the people -- prove people they are
:10:30. > :10:33.wrong. Next thing we will enter is farming. We started a catfish farm
:10:34. > :10:42.in Indonesia. Whether it succeeds or not we will just keep getting up and
:10:43. > :10:47.trying again and again and again. Please, bring some fish back to the
:10:48. > :10:51.office! Thank you for joining us. Before we go here is a quick look at
:10:52. > :10:56.the market was in S. Asia is in positive territory at the moment.
:10:57. > :11:09.All markets are up. Thank you for joining us.
:11:10. > :11:10.You are watching BBC News. Our top stories sour - President