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Now for the latest financial news with Sally | :00:00. | :00:00. | |
Facebook says it's added 60 million new monthly active users | :00:00. | :00:19. | |
in the third quarter and saw profits jump 11%. | :00:20. | :00:25. | |
And the web summit in Dublin attracts thousands of delegates | :00:26. | :00:27. | |
from over 100 countries but next year it moves to Lisbon. | :00:28. | :00:30. | |
Is this a major blow for Ireland that prides itself in being a global | :00:31. | :00:34. | |
Also in the programme Toyota will reveal its results shortly | :00:35. | :00:46. | |
our team in Singapore will tell you all you need to know. | :00:47. | :00:49. | |
Facebook has announced its quarterly results and it appears | :00:50. | :00:55. | |
the social media giant has investors clicking the Like button. | :00:56. | :00:58. | |
The company says its profit in three months to September jumped | :00:59. | :01:01. | |
11% to $891 million, as advertising revenues soared. | :01:02. | :01:03. | |
Facebook also says the number of monthly active users hit just | :01:04. | :01:06. | |
That's 14% higher from a year earlier. | :01:07. | :01:08. | |
Since the beginning of the year Facebook's stock price has | :01:09. | :01:10. | |
climbed more than 30% and in October passed the $100 a share mark. | :01:11. | :01:14. | |
With more than 4 billion videos watched every day on Facebook, | :01:15. | :01:16. | |
the social media giant has been touted as | :01:17. | :01:18. | |
Investors will be closely analysing the results to see how much | :01:19. | :01:23. | |
of the revenue growth has been driven by video. | :01:24. | :01:25. | |
Finally, with growth plateauing in the US, driving demand overseas | :01:26. | :01:27. | |
and in emerging markets is also a key challenge for the company. | :01:28. | :01:51. | |
With me is Jason Mander, Head of Trends at GlobalWebIndex. | :01:52. | :02:02. | |
What do you make of the numbers? To use Facebook's own words, it has | :02:03. | :02:10. | |
been another strong quarter. There were three metrics we were looking | :02:11. | :02:14. | |
at, active usage, video and mobile and they have all been moving in the | :02:15. | :02:19. | |
right direction very strongly. Also in terms of its recent | :02:20. | :02:24. | |
acquisitions, like WhatsApp and Instagram, good ideas? They are all | :02:25. | :02:32. | |
looking like very smart moves. There were questions whether WhatsApp was | :02:33. | :02:35. | |
too expensive but we can see how quickly they are growing and it was | :02:36. | :02:44. | |
actually quite cheap. All of its acquisitions are doing extremely | :02:45. | :02:48. | |
high levels of growth. What is next for Facebook? Recently Mark | :02:49. | :02:52. | |
Zuckerberg was in India where he was greeted like a rockstar and talking | :02:53. | :02:59. | |
connecting everyone to the Internet but emerging markets like India are | :03:00. | :03:03. | |
a challenge for Facebook? Facebook is over ten years old now in America | :03:04. | :03:08. | |
and Western Europe, there is no one left to become and you Facebook user | :03:09. | :03:13. | |
but for Mark Zuckerberg, it is important that active use goes up | :03:14. | :03:22. | |
again. So it is the Asia-Pacific regions, Africa and India. Not like | :03:23. | :03:28. | |
China though, because it is banned. It is difficult for Facebook to have | :03:29. | :03:35. | |
an official residence there because it is banned although people do use | :03:36. | :03:41. | |
it. India has a very low Internet penetration rate, under 20% still, | :03:42. | :03:44. | |
so there will be huge amount coming online in the next few years and | :03:45. | :03:48. | |
they are a key group that this but can't convert to new users. The | :03:49. | :03:53. | |
users Facebook does have one to be more active, how will they increase | :03:54. | :03:56. | |
the Facebook experience for those who are already on their system? It | :03:57. | :04:00. | |
is clear that Facebook has many things on the horizon. They're | :04:01. | :04:04. | |
talking about commerce and search but video is the key thing for the | :04:05. | :04:08. | |
short term. It wants to challenge YouTube to become the natural go to | :04:09. | :04:13. | |
place for videos and if it can convince users to view videos for | :04:14. | :04:17. | |
more than three or four seconds, it has got huge potential in terms of a | :04:18. | :04:22. | |
revenue stream. It is not the last time we will talk about Facebook. | :04:23. | :04:27. | |
Thank you. More on our website about those numbers as well, if you want | :04:28. | :04:29. | |
more details. The web summit has become one of the | :04:30. | :04:32. | |
world's biggest tech conferences. This week alone it's attracted | :04:33. | :04:35. | |
over 20,000 people from more But today marks | :04:36. | :04:37. | |
the summit's final day in the city. It's leaving for Lisbon | :04:38. | :04:41. | |
and that's caused concern for Ireland as it's credited | :04:42. | :04:43. | |
the rising number of tech companies based there as playing a major part | :04:44. | :04:46. | |
in boosting its economic growth. Dublin has become a destination for | :04:47. | :05:05. | |
the world's biggest tech companies. Google and Facebook have their | :05:06. | :05:09. | |
European headquarters in this city but it is the Web summit that brings | :05:10. | :05:14. | |
all the major names to Ireland. This has become one of the world's | :05:15. | :05:19. | |
biggest technology conferences. And a key place where startups can pitch | :05:20. | :05:22. | |
to get interest and investment in their products. This works by | :05:23. | :05:28. | |
customers only having to provide the first six digits of their credit | :05:29. | :05:31. | |
card or mobile number. How many people have you met where you feel | :05:32. | :05:35. | |
uncomfortable giving them your credit card details or going online | :05:36. | :05:38. | |
and wondering if it is really secure? There are rows of firms | :05:39. | :05:43. | |
offering ideas covering finance, fashion and of course, a little fun. | :05:44. | :05:49. | |
From here, innovations can become reality. You have probably heard a | :05:50. | :05:52. | |
lot of talk about virtual reality but this is what you could | :05:53. | :05:57. | |
potentially have in your home. This is Oculus Rift. Previously they were | :05:58. | :06:04. | |
a little bulkier than this but they will be in stores early next year | :06:05. | :06:07. | |
and they allow you to be virtually anywhere inside your own house. It | :06:08. | :06:11. | |
is a device that is not just intended to allow people to get lost | :06:12. | :06:16. | |
in games. Oculus is owned by Facebook who are always looking at | :06:17. | :06:20. | |
the future of communication. I would be shocked if messaging and | :06:21. | :06:24. | |
communications will remain the same ten years from now. Who knows? Maybe | :06:25. | :06:29. | |
people have some interactions on reality powered by Oculus. But the | :06:30. | :06:36. | |
web summit's Peterborough to be in Dublin. After four years it is | :06:37. | :06:41. | |
leaving for Lisbon in Portugal, something that has caused a | :06:42. | :06:44. | |
political row in Ireland with supporters saying they could've had | :06:45. | :06:49. | |
more support from the Irish government. Dublin has been crucial | :06:50. | :06:52. | |
to us but we have got to a size where we needed a bigger home and we | :06:53. | :06:58. | |
looked all across Europe and eventually we fell in love with a | :06:59. | :07:02. | |
city called Lisbon. Attracting technology companies has been a key | :07:03. | :07:05. | |
part of the Irish government's strategy to helping the country out | :07:06. | :07:12. | |
of its financial problems. Even without the summit, more technology | :07:13. | :07:15. | |
firms will be making their way to this city's docs. | :07:16. | :07:19. | |
Toyota, the world's biggest automaker, will release its interim | :07:20. | :07:21. | |
Mariko Oi is in our Asia Business Hub in Singapore. | :07:22. | :07:28. | |
What will Toyota say? We are expecting another solid set of | :07:29. | :07:38. | |
numbers in the second quarter this year after the company posted very | :07:39. | :07:42. | |
strong profits, rather surprisingly, in the first three months of this | :07:43. | :07:45. | |
year despite all the slowdown in China's growth and other emerging | :07:46. | :07:51. | |
markets that we always talk about. And as you said, in the first nine | :07:52. | :07:55. | |
months of this year, the company sold nearly 7.5 million cars which | :07:56. | :07:59. | |
meant it returned to the top spot as the world's best-selling carmaker, | :08:00. | :08:06. | |
which was overtaken by Volkswagen in the first six months of this year. | :08:07. | :08:10. | |
But the emissions crisis of Volkswagen continues to affect the | :08:11. | :08:16. | |
Company's reputation and it benefits other carmakers such as Toyota. The | :08:17. | :08:21. | |
weak Japanese Yen is also helping the company to report stronger | :08:22. | :08:28. | |
profits. Thank you. When we get the numbers we will get an update. | :08:29. | :08:30. | |
In other news: Kraft Heinz will close seven plants in the US | :08:31. | :08:33. | |
and Canada as part of a downsizing that will eliminate | :08:34. | :08:35. | |
2,600 jobs, or roughly 14% of its North American factory workforce. | :08:36. | :08:41. | |
over the next two years, is part of a plan to save $1.5 billion in | :08:42. | :08:52. | |
Shares of Japanese airbag supplier Takata | :08:53. | :08:53. | |
has plunged 21%, extending a sharp fall from the day before when top | :08:54. | :08:56. | |
customer Honda Motor said it would stop buying a component at the heart | :08:57. | :09:00. | |
Shares slid to the lowest level since April 2009. Shares of fallen | :09:01. | :09:20. | |
by nearly a third over the last couple of days. -- have. | :09:21. | :09:23. | |
The credit rating agency Moody's has downgraded Volkswagen. | :09:24. | :09:25. | |
Its emissions crisis is now having a direct impact | :09:26. | :09:27. | |
In the UK, they're expected to have fallen 8%. | :09:28. | :09:31. | |
Shares in VW have also plunged after the company admitted that | :09:32. | :09:33. | |
the diesel emissions scandal had widened to include petrol engines. | :09:34. | :09:46. | |
Are you a gas person or a petrol person? It depends where you live. | :09:47. | :09:52. | |
Let's look at the markets. The close in the United States is down | :09:53. | :09:56. | |
slightly. Janet Yellen was speaking in a congressional meeting yesterday | :09:57. | :10:00. | |
and reading between the lines, she implied a liftoff in interest rates | :10:01. | :10:03. | |
in December could be on the cards. I will see you soon. | :10:04. | :10:14. | |
Thousand of calls have been made to the Legal Ombudsman in just six | :10:15. | :10:17. | |
months by people complaining about Claims Management companies. | :10:18. | :10:19. | |
The firms offer to get back money for customers who've been mis-sold | :10:20. | :10:23. |