0:00:00 > 0:00:00refurbishment of the historic building takes place.
0:00:01 > 0:00:04Now on BBC News all the latest business news live from Singapore.
0:00:04 > 0:00:19Now on BBC News, all the latest business news live from Singapore.
0:00:19 > 0:00:22Facebook beats earnings estimates but investors steer clear of the
0:00:22 > 0:00:27like button over concerns about changes ahead. And India's Budget
0:00:27 > 0:00:33goes before Parliament. We find out how it might affect the country's
0:00:33 > 0:00:45economy. Good morning, Asia. Hello, world. It is Thursday. Glad you
0:00:45 > 0:00:50could join us. I am Rico Hizon. We kickoff the programme with Facebook
0:00:50 > 0:00:56and its latest earnings numbers which beat expectations. Advertising
0:00:56 > 0:01:02revenue up 47% compared to the last quarter of 2016. 4.3 billion US
0:01:02 > 0:01:09dollars profitability. Not all good news. The stock slumped after Mark
0:01:09 > 0:01:17Zuckerberg warned engagement could take a hit as Facebook evolves and
0:01:17 > 0:01:21users were spending 50 million fewer hours per day on the social media
0:01:21 > 0:01:30service. Why is Facebook changing? With the changes in the Facebook
0:01:30 > 0:01:38algorithm, they are looking at meaningful social interactions. They
0:01:38 > 0:01:44are looking at friend to friend engagement, less brand engagement.
0:01:44 > 0:01:53Looking for comments as well. The longer the comment, the higher the
0:01:53 > 0:02:00likelihood that post will go to the top of the newsfeed.This is surely
0:02:00 > 0:02:04impacts advertising growth?A court of the world's population is on it.
0:02:04 > 0:02:11They can increase the costs.Are you also reducing your time spent on
0:02:11 > 0:02:18Facebook?Not quite. I use Facebook a lot not just the friends but the
0:02:18 > 0:02:22publishing information is what my newsfeed looks like in a few months,
0:02:22 > 0:02:28we will see.Do you like the overhaul?I think they had to? The
0:02:28 > 0:02:33type of interactions and engagements they were receiving went to the type
0:02:33 > 0:02:37that Mark Zuckerberg feels is important to society.What do you
0:02:37 > 0:02:45make of this latest move, try to suppress the news a little bit more?
0:02:45 > 0:02:54Will China reconsider Facebook going forward as they make these changes?
0:02:54 > 0:03:02That is a good question. We might see Facebook in China soon. Maybe
0:03:02 > 0:03:06they are looking to appease the Chinese government. But that don't
0:03:06 > 0:03:13what Chinese citizens to see it. That will be interesting to watch.
0:03:13 > 0:03:21What other changes will Facebook be making going forward?In order to
0:03:21 > 0:03:27appease the Chinese. The Chinese government only want citizens to see
0:03:27 > 0:03:32content they want them to see. We will see a high usage of Instagram
0:03:32 > 0:03:40in certain markets which will be interesting.How important is
0:03:40 > 0:03:46Instagram to Facebook?We see higher reach on Instagram. More advertisers
0:03:46 > 0:03:53are seeing Instagram as a platform to communicate.Charles Tidswell.
0:03:53 > 0:03:58India's Finance Minister is due to present the annual Budget to
0:03:58 > 0:04:02Parliament in a few hours. Will the government stay on course for a
0:04:02 > 0:04:07deficit or throw caution to the wind with spending priorities? The Prime
0:04:07 > 0:04:12Minister will be looking to attract rural voters and small visitors
0:04:12 > 0:04:24ahead of the next general election. Joining us outside Parliament is the
0:04:24 > 0:04:29BBC's Davina Gupta. What are some of the features of this Budget?It is a
0:04:29 > 0:04:35chilly morning here. The Finance Minister will be presenting the
0:04:35 > 0:04:43ruling party's Budget in just a few hours. It comes with the backdrop of
0:04:43 > 0:04:49agricultural distress, unemployment stress expectations of social scheme
0:04:49 > 0:04:53announcements to help entrepreneurs as well is setting aside a fund for
0:04:53 > 0:05:00that and not only this, the first Budget after uniform taxation policy
0:05:00 > 0:05:06was rolled out across the country, with some teething problems. There
0:05:06 > 0:05:10are expectations businesses could get a boost and there could be some
0:05:10 > 0:05:16news for the middle-class as well. As you pointed out, there are
0:05:16 > 0:05:20election considerations around the corner so that could be some tax
0:05:20 > 0:05:27relief.This Budget is key for the government to obtain its growth
0:05:27 > 0:05:37target of seven or 7.5%.Absolutely, and it comes with concerns as well.
0:05:37 > 0:05:44A survey released ahead of the Budget, there was supposed to be
0:05:44 > 0:05:506.75% growth and there are concerns over high could oil prices, growing
0:05:50 > 0:05:53protectionism which could hurt exports and that will be factored
0:05:53 > 0:06:01in.All eyes on the fine details of this India Budget. A key so much the
0:06:01 > 0:06:08joining us, Devina Gupta. Theresa May is in the middle of her China
0:06:08 > 0:06:13visit and she is travelling with representatives of British
0:06:13 > 0:06:21businesses trade between the two countries tops $80 billion. British
0:06:21 > 0:06:25exports to China jumped 25% in the last year. Chinese businesses have
0:06:25 > 0:06:32been investing more in the UK. Earlier I asked how much bargaining
0:06:32 > 0:06:37power Theresa May has.Her position is very weak, her personal position
0:06:37 > 0:06:44is weak in her own party and the UK's position is weak. China
0:06:44 > 0:06:49realises there is an imbalance in terms of the negotiating position of
0:06:49 > 0:06:57the two countries.If you are saying that the Prime Minister has a week
0:06:57 > 0:07:01bargaining position, why is she in China in the first place?Maybe it
0:07:01 > 0:07:08is too hot to be in London because of politics. Donald Trump, Justin
0:07:08 > 0:07:11Trudeau and others were there, you don't want to be conspicuous by your
0:07:11 > 0:07:18absence. You need to participate. Maybe it will help some of these
0:07:18 > 0:07:23businesses get a deal in China on the micro level. But it is hard to
0:07:23 > 0:07:32see what the big picture benefits are. They need to exit before they
0:07:32 > 0:07:42conceal any trade deals.She claims that she is in China. Intensifying
0:07:42 > 0:07:51this so-called golden era of relations.What era is that? It
0:07:51 > 0:08:00seems to be a fantasy. China's point of view, disappointing the great
0:08:00 > 0:08:03Chinese foreign policy initiative of building infrastructure across Asia
0:08:03 > 0:08:11and South Asia as well, she is not backing that. They are also going to
0:08:11 > 0:08:24be viewing it quite negatively. Japan's Fuji film is taking over
0:08:24 > 0:08:29Xerox in a $6.1 billion deal. Xerox has been struggling for eight say
0:08:29 > 0:08:42--8 years with falling sales as offers go paperless. Joining us now
0:08:42 > 0:08:48is Leisha Santorelli.They expect cost savings of nearly $2 billion.
0:08:48 > 0:08:56This came around because of a joint venture called Fuji Xerox but
0:08:56 > 0:09:00Fujifilm has announced they will be restructuring and laying off 10,000
0:09:00 > 0:09:07workers, 20% of the workforce. Let's talk about the joint-venture. In
0:09:07 > 0:09:12Asia, Xerox is owned by Fujifilm. This joint-venture makes about $10
0:09:12 > 0:09:19billion in annual sales. Investors in America, most notably with --
0:09:19 > 0:09:29most notably this man. As advised to be terminated altogether. Analysts
0:09:29 > 0:09:36are questioning the deal. Xerox is to be a very iconic name in the
0:09:36 > 0:09:45business world. Times have changed. The invention of email as well as
0:09:45 > 0:09:50portable printers have dealt it a hard bloke. This is a trend we are
0:09:50 > 0:09:54seeing globally. People are questioning the merits of this
0:09:54 > 0:10:01merger.I still need my papers, don't phase out the photocopiers.
0:10:01 > 0:10:07Thank you so much for the update. Leisha Santorelli. The Asian stock
0:10:07 > 0:10:17markets are all in positive territory. Wall Street stocks
0:10:17 > 0:10:26finished modestly higher. Offbeat economic -- up peak -- upbeat
0:10:26 > 0:10:31economic data was offset by concerns about US monetary policy. Have a
0:10:31 > 0:10:31great