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Now it's time for World Business Report. | :00:00. | :00:17. | |
Raking in the billions - another huge quarter for Silicon | :00:18. | :00:20. | |
But can the likes of Google and Amazon keep on growing? | :00:21. | :00:27. | |
consumer confidence up, business confidence up - | :00:28. | :00:33. | |
We take stock of the President's first 100 days at the helm | :00:34. | :00:39. | |
Begin me that 8.5 minutes and I will give you an exciting snapshot of the | :00:40. | :01:02. | |
world of business and money. Also coming up - more surprises | :01:03. | :01:04. | |
from President Trump as he vows to renegotiate the US trade | :01:05. | :01:08. | |
deal with South Korea. We'll be getting the | :01:09. | :01:10. | |
reaction from Asia. We start in Silicon Valley | :01:11. | :01:12. | |
where three of the biggest names in technology have been | :01:13. | :01:20. | |
reporting their numbers We are talking about the Tech Titans | :01:21. | :01:22. | |
- Google, Amazon and Microsoft. And it seems they are just | :01:23. | :01:27. | |
getting bigger and bigger. The numbers are jaw | :01:28. | :01:29. | |
dropping, take a look. Along with rival Facebook it | :01:30. | :01:35. | |
dominates online advertising. But it's still managing | :01:36. | :01:43. | |
to grow very fast. Google's parent company Alphabet saw | :01:44. | :01:48. | |
revenues jump by almost a quarter Remember this is just three | :01:49. | :01:51. | |
months worth of sales. It's one of the world's | :01:52. | :02:06. | |
biggest retailers - it dominates online shopping, | :02:07. | :02:12. | |
and still saw sales grow over 22% to almost $36 billion | :02:13. | :02:20. | |
for the three months to March. Three quarters of a billion | :02:21. | :02:22. | |
of that was profit. Amazon has been growing sales | :02:23. | :02:25. | |
in double-digits for 20 years. Microsoft too is | :02:26. | :02:28. | |
raking in huge sales. Many people wrote it off as a victim | :02:29. | :02:30. | |
of the decline in PC's and the rise But it's become a leader | :02:31. | :02:34. | |
in cloud computing. It made revenues of over $23 billion | :02:35. | :02:47. | |
although they were only up 6%, and that was less than | :02:48. | :02:51. | |
Wall Street was expecting. But are these Tech Titanstoo | :02:52. | :02:56. | |
dominant - simply too big - and too powerful in their | :02:57. | :02:59. | |
respective industries? That if they remain under scrutiny. | :03:00. | :03:14. | |
Some practices, adding conventionally, you'd have to say | :03:15. | :03:23. | |
yes. They would be up to 50% of the e-commerce market. Knocking out a | :03:24. | :03:28. | |
lot and traditional retailers as well as on line rivals but it's not | :03:29. | :03:32. | |
behaving in the two -- traditional monopoly way. With price gouging. | :03:33. | :03:36. | |
Consumers still get a pretty good deal. Prices are actually going | :03:37. | :03:40. | |
down. Gary Reid is managing director | :03:41. | :03:41. | |
at Forward 3D which is a digital which is a digital | :03:42. | :03:45. | |
marketing company. Great to have you with us. Some | :03:46. | :03:54. | |
people might say, Google, for example. Is it really too big and | :03:55. | :04:00. | |
too dominant? Maybe to begin dominant because there is not much | :04:01. | :04:05. | |
of a competition out there. That is part of the point. They have got | :04:06. | :04:08. | |
great products but if you look at e-commerce, there is less than 20%. | :04:09. | :04:13. | |
There is a line right now. Still a long way to go. Isn't it funny, and | :04:14. | :04:21. | |
not funny, but it highlights the times we're living in. We used to | :04:22. | :04:25. | |
talk about GE, General Electric, as being the world's biggest company. | :04:26. | :04:31. | |
That is now dominated at the top three in the world are tech | :04:32. | :04:36. | |
companies. Absolutely. It shows you where everything is going. Going | :04:37. | :04:41. | |
from desktop PCs and mobile phones. The whole world is changing. They | :04:42. | :04:45. | |
are providing the infrastructure for us. Imagine a deal without Google | :04:46. | :04:53. | |
Maps. We would be lost. Talking of Google, when the numbers come out, | :04:54. | :05:00. | |
things to look out, what we call it? The cost per click. The advertising | :05:01. | :05:06. | |
money. Every time somebody clicks on an advert, somebody pays for that. | :05:07. | :05:11. | |
That probably masks the fact that their revenue has been going up. | :05:12. | :05:16. | |
That's because there is incremental clicks coming from mobile phones. | :05:17. | :05:20. | |
People do a lot of clicking on mobile phones. That is what is | :05:21. | :05:27. | |
happening at the moment. Say with hammers on, people going to the | :05:28. | :05:31. | |
Amazon on site. Going straight to looking for a product as opposed to | :05:32. | :05:38. | |
searching on Google. With hammers on E now, you can order from your home | :05:39. | :05:42. | |
without going even want your mobile phone. -- Amazon Echo. What Google | :05:43. | :05:50. | |
are trying to do with Google shopping is aggregate everything | :05:51. | :05:55. | |
that is not Amazon, to create some competition to Amazon. They are | :05:56. | :05:58. | |
doing a pretty good job. The one, Microsoft. Microsoft sales of PCs, | :05:59. | :06:08. | |
they are going to be hit hard but they reinvented into this cloud | :06:09. | :06:15. | |
storage. Unbelievable. They become so dominant in that, Google are | :06:16. | :06:19. | |
trying to catch up with them. Big companies are using them. They have | :06:20. | :06:25. | |
got that heritage which says they can be trusted in that area. Amazon | :06:26. | :06:31. | |
makes most of its money from the cloud. Gary Reed, a pleasure. Your | :06:32. | :06:36. | |
first time does. It will not be your last. | :06:37. | :06:49. | |
We are also talking about President Donald Trump- | :06:50. | :06:51. | |
because as you've been hearing, Saturday marks the 100th day | :06:52. | :06:54. | |
On the campaign trail Mr Trump made some big pledges on business | :06:55. | :06:58. | |
Stock markets are still riding high on a wave of optimism - | :06:59. | :07:02. | |
the so called Trump Bump -- how much will he be able to deliver? | :07:03. | :07:06. | |
Samira Hussain has more from New York. | :07:07. | :07:08. | |
As a candidate, Donald Trump had ambitious plans for the economy in | :07:09. | :07:14. | |
his first 100 days in office. I am asking the American people to dream | :07:15. | :07:20. | |
big once again. What follows is my 100 day action plan to make America | :07:21. | :07:27. | |
great again. But things that require action by Congress have stopped. The | :07:28. | :07:35. | |
tax code not reformed, Obamacare not repealed. Even though, Donald Trump | :07:36. | :07:42. | |
has seen the economy and crime. The domestic economy is good. Regardless | :07:43. | :07:46. | |
of policies, they will take time to implement. That is why I think you | :07:47. | :07:52. | |
have seen a period. Just forget the 100 days. Periods where the market | :07:53. | :08:04. | |
moves up. Consumer confidence has risen. So too has business | :08:05. | :08:08. | |
confidence. And crucially, stock markets are up as well. The S 500 | :08:09. | :08:17. | |
is written as investors seem convinced that Donald Trump will | :08:18. | :08:21. | |
deliver for corporate America. They have a checklist of items they want | :08:22. | :08:28. | |
to pursue to get to growth number. Implicitly, they premise that growth | :08:29. | :08:33. | |
on the idea of tax cuts, mainly as expanded infrastructure spending. | :08:34. | :08:38. | |
That is an important milestone, they've got a lot of legislating to | :08:39. | :08:48. | |
do. Present John hasn't -- President Trump has not been able to change | :08:49. | :08:53. | |
much and if he doesn't soon, the high hopes which are fuelling | :08:54. | :08:56. | |
economic activity, they may start to stall. | :08:57. | :09:06. | |
Let's stay with President Trump because he's been telling Reuters | :09:07. | :09:09. | |
news agency he will either renegotiate or terminate | :09:10. | :09:12. | |
what he called a "horrible" free trade deal with South Korea. | :09:13. | :09:14. | |
He also says Seoul should pay for a US | :09:15. | :09:17. | |
anti-missile system that he priced at $1 billion. | :09:18. | :09:23. | |
Let's go over to Singapore and Sharanjit. Good to see you, | :09:24. | :09:32. | |
Sharanjit. Another one of these announcements by the President. It | :09:33. | :09:39. | |
is the currency, the won, that has taken a hit. Yes, the currency, the | :09:40. | :09:45. | |
won as well is the local index went into reverse. It stunned a lot of | :09:46. | :09:49. | |
investors. They weren't expecting this to come and Mr Trump is, as you | :09:50. | :09:54. | |
said, the gift that keeps on giving. He is calling the five-year pact | :09:55. | :09:58. | |
with South Korea unacceptable and that he would renegotiate it. A real | :09:59. | :10:03. | |
revamp of the North American Free Trade Agreement. He essentially | :10:04. | :10:07. | |
blamed the US- South Korea trade deal on his 2016 election opponent | :10:08. | :10:13. | |
Hillary Clinton who was Secretary of State at the time who promoted the | :10:14. | :10:17. | |
final version of the trade pact before its approval by Congress in | :10:18. | :10:21. | |
2011. As I mentioned, President Trump has stunned the financial | :10:22. | :10:24. | |
markets. They weren't expecting this. We have seen a slightly | :10:25. | :10:29. | |
brightening prospect for the Korean economy. We have seen global demand | :10:30. | :10:35. | |
improving. They have been leading the recovery in South Korea as well | :10:36. | :10:38. | |
as a number of other trade reliant agent -- Asian economies such as | :10:39. | :10:44. | |
Japan and Taiwan. We heard from a high-ranking South Korean Finance | :10:45. | :10:47. | |
Ministry official who declined to be named, telling Reuters the Trump | :10:48. | :10:49. | |
administration had not requested anything from them yet so they are | :10:50. | :10:55. | |
just waiting and seeing. We will do a U-turn. He's done that and | :10:56. | :10:59. | |
everything else. CU, Sharanjit. Follow me on Twitter. I will be back | :11:00. | :11:04. | |
with James did look -- to look at some of the newspapers from around | :11:05. | :11:06. | |
the world. The general election will be a | :11:07. | :11:20. | |
tipping point the education, with head teachers warning the stability | :11:21. | :11:23. | |
of the whole system is at | :11:24. | :11:24. |