:00:00. > :00:00.years. He killed 77 people in a gun and bomb rampage in 2011. Those are
:00:00. > :00:20.the latest headlines from BBC World News. Sally is here with World
:00:21. > :00:33.Business Report. Story is the hardest word. Buses that Mitsubishi
:00:34. > :00:41.will -- sorry is the hardest word. Mitsubishi bosses tried to clean up
:00:42. > :00:48.the mess surrounding their emissions cheating scandal and Volkswagen does
:00:49. > :00:51.the same in the United States. Welcome to World Business Report. It
:00:52. > :00:54.is a packed programme today because we also have the likes of Microsoft
:00:55. > :01:00.and Google revealing their latest earnings. We will be grilling a top
:01:01. > :01:04.tech expert but let's start with investors in Japan who are waiting
:01:05. > :01:10.in line to sell off more shares of the automaker Mitsubishi. In early
:01:11. > :01:17.trade today, shares in the car giant were not able to trade at all as
:01:18. > :01:22.they were about ten times -- there were about ten times as many sell
:01:23. > :01:30.orders as there were bids. This is the press conference yesterday when
:01:31. > :01:36.the boss and other owners had to it and -- admit that fuel data was
:01:37. > :01:42.falsified for about 600,000 cars. This wiped $1.2 billion off their
:01:43. > :01:48.market value on Wednesday. Today trade has been suspended. Let's go
:01:49. > :01:53.to Rico Hizon in Singapore. Mitsubishi shares not able to trade
:01:54. > :01:59.because they were just hit with a selloff limit straightaway? That's
:02:00. > :02:04.right. Mitsubishi continues to be under fire. Many developments have
:02:05. > :02:11.taken place over the past hour. Japan's top government spokesperson
:02:12. > :02:15.has said that the automaker's manipulation of the test data was
:02:16. > :02:21.extremely serious and this undermines consumer trust. There are
:02:22. > :02:34.also reports that authorities overrated the research -- have
:02:35. > :02:38.raided their research Centre, so it is really a bad day for Mitsubishi.
:02:39. > :02:43.Nobody seems to be wanting to purchase the shares of the company
:02:44. > :02:48.right now. The compensation bill may run into the hundreds of millions of
:02:49. > :02:54.dollars but the damage could be far larger. This comes only months after
:02:55. > :02:59.Volkswagen's issues and will add fuel to the view that auto
:03:00. > :03:03.manufacturers are not behaving sensibly when it comes to emissions
:03:04. > :03:08.tests. When it comes to car makers, trust in the brand is everything but
:03:09. > :03:12.this may lead to increased regulatory supervision of the
:03:13. > :03:19.industry. It is also a bad time to have the sector called into question
:03:20. > :03:30.because new electronic options are Muslim their way to the car
:03:31. > :03:34.industry. -- muscling. Staying on the subject, Volkswagen has to give
:03:35. > :03:43.US authorities details on how it plans to fix the diesel cars sold in
:03:44. > :03:48.the US equipped with pollution cheating software. They admit they
:03:49. > :03:51.equipped up to 11 million diesel cars worldwide with devices that
:03:52. > :03:55.cheated official emissions tests. If they don't reach a solution that is
:03:56. > :04:02.acceptable to the environment protection agency in the US, the
:04:03. > :04:06.case will go on trial and Volkswagen is counting the cost of this scandal
:04:07. > :04:12.as they must also make provisions for potential liabilities in their
:04:13. > :04:19.delayed results for last year which much be approved by Friday. Now we
:04:20. > :04:22.go to our correspondent. Seven months ago, Volkswagen admitted that
:04:23. > :04:26.up to 11 million of its diesel cars worldwide had been fitted with
:04:27. > :04:29.software designed to distort the results of the emissions tests.
:04:30. > :04:32.Since then in many regions that have been able to fix affected vehicles
:04:33. > :04:38.quickly and without harming their performance. But in the United
:04:39. > :04:41.States, where the problems first came to light as the company was in
:04:42. > :04:45.the middle of a major marketing drive for diesel, it has yet to,
:04:46. > :04:49.with a solution that regulators will except. That is partly because
:04:50. > :05:00.diesel and emissions standards are very strict Tavare. The carmaker was
:05:01. > :05:03.attending to -- there. The carmaker was attending to meet them but it
:05:04. > :05:10.makes sorting out the problem very difficult. Among the options, it
:05:11. > :05:13.could modify the cars to make sure they need standards in the future
:05:14. > :05:19.but that could be difficult task for older cars. It could purchase the
:05:20. > :05:24.affected cars back from their owners but analysts say that could cost up
:05:25. > :05:28.to $4 billion. Or it could reach a deal with the authorities, paying a
:05:29. > :05:31.fine to compensate for the extra pollution caused by its vehicles.
:05:32. > :05:35.Whichever option is chosen, the court will have to approve it and
:05:36. > :05:47.whatever happens is likely to cost Volkswagen a great deal of money.
:05:48. > :05:51.Let's talk about technology. The world is vying for a share of the
:05:52. > :05:57.Internet of things but not all the players are winning. Today we're
:05:58. > :06:00.going to hear from Google and Microsoft who are unveiling
:06:01. > :06:07.quarterly results in the United States. Last quarter, Google enjoyed
:06:08. > :06:11.a growth in revenue at the parent company Alphabets by 18% but its
:06:12. > :06:13.dominance is attracting attention of the European Union watchdog which
:06:14. > :06:20.charged Google on Wednesday with abusing the dominant position of
:06:21. > :06:24.android. This is another assault on the US tech giant that could lead to
:06:25. > :06:27.large fines while Microsoft is continuing to grapple with the
:06:28. > :06:33.rapidly declining personal computer market, focusing on the cloud
:06:34. > :06:41.computing market. We have also heard from the chipmaker Intel, slashing
:06:42. > :06:49.jobs globally. To talk us through all of this, I am joined by the
:06:50. > :06:54.editor-in-chief of PC Pro. As we hear from all these companies who
:06:55. > :06:58.have various arms across the technology world, you are sort of
:06:59. > :07:06.getting a sense of which ones are losing as this technology develops.
:07:07. > :07:13.Yes. We're seeing a massive trend that has been happening for a while
:07:14. > :07:16.but is now reaching its peak. We are seeing PCs as the dominant form of
:07:17. > :07:21.making money falling by the wayside and at the same time, not making so
:07:22. > :07:27.much money from the phones anymore but from the ad sales that people
:07:28. > :07:33.are doing on the phones. It is a major shift. Then we have a third
:07:34. > :07:38.wave which is cloud computing and with it the Internet of things. And
:07:39. > :07:41.what that means is that this is a completely new way of making money
:07:42. > :07:54.that all these big companies, who traditionally relied on PCs, are
:07:55. > :07:57.trying to get a slice of. As far as the European Commission is
:07:58. > :08:05.concerned, Google is getting too big a slice of the action. Give us your
:08:06. > :08:09.take on Wednesday's move. Again, this is the running cost of the far
:08:10. > :08:14.as far as Google is concerned. It is always a threat. We know that the
:08:15. > :08:18.European Union wants to attack the big players who are dominant and who
:08:19. > :08:25.are using that position and Google is, is saying to the company, if you
:08:26. > :08:29.want to have access to our services, you need to give people our browser
:08:30. > :08:36.which is where the search results come in and the ad revenue. So it is
:08:37. > :08:40.using its power. It will be interesting to see how that plays
:08:41. > :08:44.off. Microsoft was there and they didn't win some years ago when it
:08:45. > :08:50.was accused of the same thing. In terms of the earnings from the two
:08:51. > :08:54.companies, what can we expect? We can expect Google to actually talk
:08:55. > :09:01.about how it is going to concentrate on its cloud platform. It has fallen
:09:02. > :09:08.behind the likes of Microsoft and Amazon in that area and this is
:09:09. > :09:14.where there is a lot of money to be made. It will also talk about its
:09:15. > :09:18.huge success stories, all that ad revenue coming in. And from
:09:19. > :09:22.Microsoft I believe we will hear positive sounds because it has made
:09:23. > :09:27.a lot of money from cloud already. Thank you. When we hear from the
:09:28. > :09:31.companies we will update you. Shares in the owner of KFC and Pizza Hut
:09:32. > :09:35.have jumped nearly 4% after the company reported
:09:36. > :09:41.better-than-expected quarterly earnings in the US. Profits rose 8%
:09:42. > :09:45.in the three months to March but the Chinese company remains tightlipped
:09:46. > :09:52.about the progress of its local operations. Newmont Mining has
:09:53. > :09:58.reported lower first-quarter earnings of the back of weaker gold
:09:59. > :10:06.and copper prices. It is the second biggest gold miner by market value.
:10:07. > :10:09.It is still ahead of expectations. The results were helped by higher
:10:10. > :10:15.production and lower costs. Let's show you the markets briefly. Bear
:10:16. > :10:20.in mind Mitsubishi shares are not trading today but Japan is having a
:10:21. > :10:29.good session. The yen is much weaker today which has helped exporters in
:10:30. > :10:34.general. We have a good the day in United States,, not particularly
:10:35. > :10:40.strong by beating expectations. -- but. Expectations are fairly low
:10:41. > :10:55.right now. I will see you soon to look at today's papers. Stay with
:10:56. > :10:58.us. Almost to a half billion pounds of the extra money promised to the
:10:59. > :11:00.health services to be used to help relieve the pressure