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the latest headlines from BBC World News. | :00:00. | :00:00. | |
Now for the latest financial news with Alice. | :00:00. | :00:15. | |
Strong quarters from Apple and Facebook cheer investors. So has | :00:16. | :00:20. | |
confidence returned to the tech sector? Plus ` Formula One chief | :00:21. | :00:25. | |
Bernie Ecclestone faces a German court on bribery charges ` if | :00:26. | :00:28. | |
convicted the billionaire faces up to ten years in jail. | :00:29. | :00:37. | |
Welcome to World Business Report. I'm Alice Baxter. | :00:38. | :00:45. | |
In a moment ` one year on from the Raynor Plaza disaster ` what's | :00:46. | :00:47. | |
really changed in Bangladesh's textile trade? | :00:48. | :00:52. | |
Shares of technology companies have been punished over the past month or | :00:53. | :00:55. | |
so amid fears that the "tech bubble" may be bursting. We have certainly | :00:56. | :01:05. | |
been talking about it a lot here. In other words ` that their growth | :01:06. | :01:08. | |
simply can't justify their huge stock market valuations. Well ` | :01:09. | :01:11. | |
there's been relief on Wall Street with strong results after the | :01:12. | :01:14. | |
closing bell from two of the biggest names in the business. First | :01:15. | :01:17. | |
Facebook ` it proved it's still growing strongly, with revenues of | :01:18. | :01:20. | |
2.5 billion dollars in the three months to March ` up 72 % on the | :01:21. | :01:28. | |
same time last year. Then came the news from Apple. It made a massive | :01:29. | :01:33. | |
45.6 billion dollars in revenue over the same period ` the best | :01:34. | :01:36. | |
non`holiday quarter ever ` thanks to booming iPhone sales in China. Apple | :01:37. | :01:44. | |
also says it's splitting its shares seven ways to make them more | :01:45. | :01:49. | |
affordable to small investors. So an Apple share will be around 70 | :01:50. | :01:55. | |
dollars instead of 500. And it's returning another 30 billion dollars | :01:56. | :02:02. | |
to investors. All this is aimed at keeping shareholders on side. From | :02:03. | :02:11. | |
New York ` here's Samira Hussain. Two American tech giants that are | :02:12. | :02:16. | |
painting very different pictures. Facebook has delivered earnings that | :02:17. | :02:20. | |
investors really like. It was a huge quarter for Facebook. They spent | :02:21. | :02:25. | |
more than $20 billion buying the messaging app, What's App and the | :02:26. | :02:31. | |
virtually reality firm. Signs that Facebook is expanding its horizons. | :02:32. | :02:36. | |
But they also surpassed 1 billion monthly users on mobiles. Since 59% | :02:37. | :02:41. | |
of their advertising revenue came from mobiles, more users mean more | :02:42. | :02:48. | |
and money. The revenue is up by more than 70% and the revenue from | :02:49. | :02:54. | |
advertising is up by more than 80%. But the story is as juicy for Apple. | :02:55. | :03:01. | |
The company that championed a listening of byproducts has not been | :03:02. | :03:06. | |
able to deliver anything new that eye`catching. The pressure continues | :03:07. | :03:14. | |
to mount on the CEO, Tim Cook. Apple is taking steps to play the | :03:15. | :03:17. | |
investors by sharing more of the $150 billion it has in cash. As it | :03:18. | :03:24. | |
is as consumers, saying that new products are coming soon, . | :03:25. | :03:29. | |
Formula One boss Bernie Ecclestone goes on trial in Munich later this | :03:30. | :03:32. | |
Thursday on bribery charges that could lead to a prison term of up to | :03:33. | :03:42. | |
ten years if he is convicted. The trial could spell the end of the | :03:43. | :03:45. | |
83`year`old Ecclestone's career running F1, which he turned into a | :03:46. | :03:50. | |
billion dollar business. He says he intends to 'vigorously defend the | :03:51. | :03:55. | |
case'. Let's talk to the BBC's correspondent in Berlin ` Stephen | :03:56. | :03:59. | |
Evans. Talk us through the charges against | :04:00. | :04:06. | |
Bernie Ecclestone. Bribery is the main charge and it is a complicated | :04:07. | :04:11. | |
case, it goes back to when a Bavarian bank owned a stake. 47% of | :04:12. | :04:16. | |
Formula 1 which it wanted to sell. Bernie Ecclestone, it is alleged, | :04:17. | :04:21. | |
wanted that fail to go to a particular company with which he had | :04:22. | :04:25. | |
a connection. He wanted to remain in charge of Formula 1 and he thought, | :04:26. | :04:30. | |
so the allegation is, if the sale went to this company, he would stay | :04:31. | :04:36. | |
in the top job. A payment of $44 million was made to a banker in that | :04:37. | :04:41. | |
Bavarian bank. No dispute that money was paid, is to be about whether it | :04:42. | :04:47. | |
was legally paid or whether it a corrupt payment. The competition for | :04:48. | :04:52. | |
Bernie Ecclestone is that the banker has already been found guilty of | :04:53. | :04:57. | |
corruption and is currently in jail. The banker will testify in court | :04:58. | :05:03. | |
against the Nicholson. But it Ecclestone vehemently denies he is | :05:04. | :05:08. | |
innocent `` Bernie Ecclestone, he says there is no wrongdoing and the | :05:09. | :05:15. | |
payment was legitimate. That will play out over the next eight weeks | :05:16. | :05:23. | |
once a week in this court in Munich. It is a complicated case for all of | :05:24. | :05:26. | |
those reasons. Talk us through the process. Will Bernie Ecclestone be | :05:27. | :05:31. | |
asked to appear in court himself? He has already appeared for this judge | :05:32. | :05:38. | |
before, hasn't he? It is the same judge who tried the recipient of the | :05:39. | :05:43. | |
money. He will appear, he said he wants to clear his name. He will be | :05:44. | :05:47. | |
the evidence, he has no choice about it. There is a deal, obviously | :05:48. | :05:55. | |
Germany and Britain are in the EU, same judicial system in lots of | :05:56. | :05:59. | |
ways. He have to appear but he has that anywhere, I want to appear. I | :06:00. | :06:04. | |
will be there, I will put the case. We will have to wait and see what | :06:05. | :06:07. | |
comes out of the courtroom. Thank you. | :06:08. | :06:09. | |
A year ago today Bangladesh witnessed its worst ever industrial | :06:10. | :06:12. | |
disaster when a garment factory complex ` known as Raynor Plaza ` | :06:13. | :06:15. | |
collapsed killing more than 1100 people. It severely damaged the | :06:16. | :06:20. | |
image of Bangladesh's clothing industry, which exported more than | :06:21. | :06:22. | |
twenty`two billion dollars of clothes last year. The BBC's | :06:23. | :06:28. | |
Anbarasan Ethirajan who extensively reported during the disaster looks | :06:29. | :06:30. | |
at what has changed since then. This woman was lucky enough to | :06:31. | :06:42. | |
survive the disaster. She was among hundreds of women working inside the | :06:43. | :06:45. | |
complex when it came crashing down last year. Trapped under the rubble, | :06:46. | :06:51. | |
she was rescued two days after the disaster. Her mangled legs had to be | :06:52. | :06:59. | |
amputated. TRANSLATION: I am borrowing money to survive. My | :07:00. | :07:06. | |
husband is taking care of me and he has no time to go to work. Who will | :07:07. | :07:15. | |
look after me and do the housework? One year later, I am still waiting | :07:16. | :07:20. | |
for my full compensation. That is because Western brands and retailers | :07:21. | :07:22. | |
have so far contributed only $15 million to a $40 million fund to | :07:23. | :07:25. | |
compensate victims and their families. Money has only just | :07:26. | :07:33. | |
started trickling down and it is likely to take months to reach the | :07:34. | :07:42. | |
victims. Thousands were saved from the rubble. It was a Bangladesh's | :07:43. | :07:47. | |
worst ever industrial disaster. More than 1100 people were killed. The | :07:48. | :07:58. | |
disaster was a major wake`up call for the clothing sector. A series of | :07:59. | :08:07. | |
measures have been taken in the last year. The minimum monthly wage for | :08:08. | :08:10. | |
workers has been increased from $38 per month to $68. Western retailers | :08:11. | :08:14. | |
have also set up a fund to help improve safety standards in the | :08:15. | :08:16. | |
clothing industry in Bangladesh. Around 200 new safety inspectors | :08:17. | :08:19. | |
will be appointed to try and prevent another major collapse or fire in | :08:20. | :08:26. | |
the factories. For others who escaped, they are back at work in | :08:27. | :08:32. | |
new jobs. Safer factories but life has not been easy. TRANSLATION: I do | :08:33. | :08:39. | |
not want to work any more. I get flashbacks about those horrible | :08:40. | :08:52. | |
days. I cannot sleep properly as I have nightmares. I don't have any | :08:53. | :08:57. | |
option as we are poor. My father and brother are no more. We have to work | :08:58. | :09:01. | |
to pay our bills. Learning the lessons from the disaster is crucial | :09:02. | :09:04. | |
to the economy. The clothing sector represent nearly 80% of exports but | :09:05. | :09:06. | |
while Western retailers say they want safety to improve, they have | :09:07. | :09:10. | |
not been shy to warn they will go elsewhere if cost is rise to high. | :09:11. | :09:17. | |
`` too high. In other news. General Electric is | :09:18. | :09:22. | |
in talks to buy French engineering giant Alstom for 13 billion dollars | :09:23. | :09:27. | |
` according to Bloomberg news. The report claims a deal could be | :09:28. | :09:30. | |
announced as early as next week. Alstom ` whose products include wind | :09:31. | :09:33. | |
turbines and trains ` has been hit by a drop in orders from power | :09:34. | :09:37. | |
companies amid a fall in electricity prices ` and announced 1300 job cuts | :09:38. | :09:43. | |
last year. A spokeswoman for the company described the report as | :09:44. | :09:51. | |
"totally unfounded rumours". If you want to get in touch with me, I am | :09:52. | :09:56. | |
on Twitter. I would love to hear from you. | :09:57. | :10:14. | |
Many thanks to Alice. The number of older people needing | :10:15. | :10:15. |