:00:00. > 3:59:59secretly recorded asking a girlfriend not to bring black people
:00:00. > :00:26.to matches. Twitter shares plunge as they
:00:27. > :00:33.struggle to lure new users and excite current ones with new
:00:34. > :00:38.products. And, money should be spent on housing, not on the World Cup. So
:00:39. > :00:48.say the squatters of Sao Paulo. This is the latest in our series on
:00:49. > :00:52.Brazil's economy. Welcome to World Business Report. In
:00:53. > :00:57.a moment we will be talking about the Japanese PM's tour of Europe,
:00:58. > :01:03.but first, shares in Twitter sank after the country said its revenue
:01:04. > :01:11.more than doubled `` Co. It is famous for making people think of
:01:12. > :01:17.140 characters or less. Twitter has yet to make a profit. It says it
:01:18. > :01:22.made a net loss of $132 million in the first few months of 2014.
:01:23. > :01:29.However, it posted quarterly revenue of $250 million. $226 million of
:01:30. > :01:37.which was made through advertising. The number of active users grew to
:01:38. > :01:40.255 million. That is up 5.8% of the previous quarter, but lower than
:01:41. > :01:44.expected. The data continues to suggest that it may only have a
:01:45. > :01:54.future as a niche social network, so can it break out into a more
:01:55. > :01:57.mass`market use? When Twitter went public last
:01:58. > :02:04.November, the Bluebird soared. On its first trading day, shares rose
:02:05. > :02:10.almost 73%. Not so after it reported its first quarter earnings, when the
:02:11. > :02:13.stock fell nearly 10%. The microblogging site, which is yet to
:02:14. > :02:18.make a profit, reported a net loss of $132 million. On the bright side,
:02:19. > :02:25.revenue more than doubled, as it made more money from advertising. To
:02:26. > :02:31.highlight its reach, the chief executive pointed to big events like
:02:32. > :02:36.the Foster's. Two days after the Oscars, there were almost 2.3
:02:37. > :02:45.billion views of Tweets, just about the show. That kind of reach and
:02:46. > :02:47.impact is why we now have TV partnerships in 11 countries, and it
:02:48. > :02:54.has enabled us to build a partnership with billboards to
:02:55. > :03:01.highlight the music of the moment. Here is why investors do you use
:03:02. > :03:04.Twitter? No, I don't actually. I don't like to post my thoughts, and
:03:05. > :03:16.they don't look at that kind of stuff. Do either of you use Twitter
:03:17. > :03:20.? No, sorry. Twitter may not yet be mainstream, but it is still signing
:03:21. > :03:25.up new users. The problem is that the pace at which they are being
:03:26. > :03:30.added is slowing down, not what investors want to see from a young
:03:31. > :03:35.tech company. 250 million monthly active users is a substantial
:03:36. > :03:40.number. It makes it one of the largest social media platforms. But
:03:41. > :03:44.there are a number of other comparable applications that seem to
:03:45. > :03:50.be used by far more people far more regularly. Like Facebook. When it
:03:51. > :03:55.was this size, new users were still rushing to sign up. Investors bought
:03:56. > :03:59.into Twitter on the expectation of rapid growth. Even though the
:04:00. > :04:02.company said it would make more money than previously forecast, it
:04:03. > :04:10.wasn't enough to impress Wall Street.
:04:11. > :04:16.Brazil's wealth has grown in the past decade, but deep inequalities
:04:17. > :04:19.remain. Nowhere more so than in the country's biggest city of Sao Paulo.
:04:20. > :04:27.Why the city has grown and property prices have risen, the number of
:04:28. > :04:29.people in need of housing is rising, which gives momentum to squatters,
:04:30. > :04:37.who say that money should be spent on housing, not on the World Cup.
:04:38. > :04:41.This is one of Sao Paulo's newest neighbourhoods. It has no proper
:04:42. > :04:49.plumbing, and no proper sewage system either. But, in less than six
:04:50. > :04:54.months, 2000 people have moved in. Rebecca is one of them. At 35 she
:04:55. > :04:59.recently separated, and couldn't afford the rent, so she now shares
:05:00. > :05:04.this tent with a two children. This base is just big enough or two beds.
:05:05. > :05:10.There is no electricity, and when it rains the water comes through the
:05:11. > :05:13.roof on the floor turns to mud. Rebecca is a member of one of
:05:14. > :05:16.several housing movements in the city. They occupy land, pressure the
:05:17. > :05:24.government to provide decent housing. Officials say around
:05:25. > :05:31.230,000 people in the city need housing. Others say that figure is
:05:32. > :05:34.twice or three times that. It is not just empty parcels of land that have
:05:35. > :05:38.been taken over. Here, in the centre of Sao Paulo, buildings that have
:05:39. > :05:43.been left empty for years have increasingly been taken over by
:05:44. > :05:46.housing movements. 170 families have lived in this building since they
:05:47. > :05:51.first took it over nearly 18 months ago. It is in a part of town that
:05:52. > :05:56.the wealthy long since abandoned, but even here, rents often exceed
:05:57. > :06:02.the minimum wage of just over $300 a month. Here, they cook together,
:06:03. > :06:10.clean together, and share the responsibilities. And it is all
:06:11. > :06:15.overseen by this woman. TRANSLATION: The government is investing billions
:06:16. > :06:18.for the World Cup on stadiums that don't even have enough people to
:06:19. > :06:22.fill them, but they don't have money to invest in education and housing
:06:23. > :06:25.and health. When we sit down at the table with them, they say they don't
:06:26. > :06:29.have the funds. The government insists efforts are being made.
:06:30. > :06:33.There are federal and statewide building programmes, and the
:06:34. > :06:42.municipality in Sao Paulo also aims to build 15,000 new homes by 2016.
:06:43. > :06:48.TRANSLATION: In eight years, the previous administration managed to
:06:49. > :06:51.build no more than 24,000 houses, so we are more than doubling that
:06:52. > :06:59.investment in building work for social housing in Sao Paulo. So, the
:07:00. > :07:05.building project increase, but amid housing projects these movements are
:07:06. > :07:15.gaining momentum. People here keep dreaming of a house.
:07:16. > :07:18.Tomorrow, Katie will be looking at the problems facing Brazil as it
:07:19. > :07:24.tries to build the infrastructure to match its growing economy. The
:07:25. > :07:27.Japanese PM, Shinzo Abe, begins a 6`nation tour of Europe today. You
:07:28. > :07:33.will be visiting Germany, Britain, Portugal, Spain, France and Belgium,
:07:34. > :07:37.with the aim of expanding trade ties. It comes hot on the heels of
:07:38. > :07:47.President Obama's meeting with Shinzo Abe in Tokyo. The US was
:07:48. > :07:49.pushing for a major trade deal, called the Trans`Pacific
:07:50. > :07:54.Partnership, but there was little progress. What is Shinzo Abe hoping
:07:55. > :08:01.to achieve during his visit to Europe? Exactly what he didn't
:08:02. > :08:06.achieve, I suppose, with President Obama on that recent visit. There
:08:07. > :08:12.are high hopes this time around for some progress on Japan's trade pact
:08:13. > :08:17.with the EU. They actually launched those talks about a year ago, trying
:08:18. > :08:21.to boost business between the continent and Japan, which is the
:08:22. > :08:27.world's third`largest economy. That is a potential tie`up that could
:08:28. > :08:31.account for 40% of the global trade. This is a deal that some are saying
:08:32. > :08:35.could even be struck before the DPP, and one analyst I spoke to said that
:08:36. > :08:48.there are less trade barriers between Japan and the EU `` TPP.
:08:49. > :08:54.Shinzo Abe's visit is seen to be an important diplomatic boost in trying
:08:55. > :08:58.to win this agreement on the trade front. Earlier this month, we saw
:08:59. > :09:03.Japan lifting a self`imposed ban on weapons exports, which could mean
:09:04. > :09:09.more sales from European defence firms. France is one country that
:09:10. > :09:13.has already said they will jointly work with Japan on things like
:09:14. > :09:19.advanced helicopters, as well as submarines, and they are also going
:09:20. > :09:29.to work with Japan on robotics and cyber defence. A lot to be achieved
:09:30. > :09:34.on this visit. Let's have a look at how the markets
:09:35. > :09:38.are getting on. For the most part, Asian markets are a mixed bag.
:09:39. > :09:43.Previously, we had seen them higher on Wednesday, as investors looked
:09:44. > :09:44.ahead to US economic data from central bank meetings in Washington
:09:45. > :09:51.and Tokyo. You can reach me on Twitter.
:09:52. > :10:10.Goodbye. We will get to the papers in a
:10:11. > :10:13.moment, but first, proposals to introduce a new tier of local
:10:14. > :10:14.officials to oversee school performance in England have been
:10:15. > :10:15.announced by