:00:17. > :00:20.Apple reports a surprise fall in iPhone sales as customers wait
:00:21. > :00:30.We talk you through the tech giants latest numbers.
:00:31. > :00:33.And as the French prepare to make their choice on Sunday,
:00:34. > :00:37.we look at the contentious issue of immigration.
:00:38. > :00:52.Also in the programme, the impact of Trumps visa review -
:00:53. > :00:54.Infosys says it will hire 10,000 Americans.
:00:55. > :00:58.But first, Apple is the world's most valuable company and it made another
:00:59. > :01:01.huge profit in the first three months of the year.
:01:02. > :01:06.The California based firm sold just under $53 billion worth
:01:07. > :01:15.of products as it continues to dominate the smartphone market.
:01:16. > :01:18.But surprisingly iPhone sales actually fell by 1% -
:01:19. > :01:20.mainly because customers are holding off purchases while waiting
:01:21. > :01:29.for the 10th anniversary model expected this autumn.
:01:30. > :01:32.They still sold over 50 million of them though and more
:01:33. > :01:34.of their expensive seven plus smartphone.
:01:35. > :01:37.Apple shares were down 2% in after hours trading
:01:38. > :01:41.but that is a mere blip if we look at the stock's long-term
:01:42. > :02:06.five years and hit a record high of $147.51 just ahead
:02:07. > :02:16.of this trading update, making the company worth a whopping
:02:17. > :02:21.Over the last year alone there's been an increase of more than 60%
:02:22. > :02:24.this is partly because during that time iphone sales have gone up.
:02:25. > :02:27.But also because investors are betting if Apple brings back
:02:28. > :02:31.to the US its huge cash reserve that now tops 250 billion dollars -
:02:32. > :02:33.iPhones are of course Apple's best-selling product,
:02:34. > :02:36.but services are the second biggest part of the business.
:02:37. > :02:39.That includes App Store downloads, Apple Pay and Apple Music,
:02:40. > :02:41.and they are now worth 13% of total revenues.
:02:42. > :02:43.With me is Nicholas Oliver, founder, people.io.
:02:44. > :02:51.Good morning. Just because of the sheer size of Apple, all of those
:02:52. > :02:55.numbers sound impressive. What is your take on how they are doing?
:02:56. > :02:59.People are talking about everyone waiting to get the new iPhone later
:03:00. > :03:04.in the year, but if you were to speak to a friend about the latest
:03:05. > :03:10.version of the iPhone, it is missing a headphone jack. That in itself may
:03:11. > :03:14.be putting people off purchasing the phone right now. Whether they are
:03:15. > :03:18.waiting for later versions or replacing it with the current
:03:19. > :03:26.version is a question to be asked. Apple need to find their way in
:03:27. > :03:30.revolutionising the industry. There is talk of Apple going out and
:03:31. > :03:41.purchasing other tech companies, we have already seen delays in the
:03:42. > :03:45.introduction of Carpool Karaoke, so I wonder where they will be making
:03:46. > :03:50.their name in the innovation space. That has been a problem for a while
:03:51. > :03:54.now, with Apple. We keep talking about the next big thing but we have
:03:55. > :03:59.not had that for a long time. The iPhone has become the bread and
:04:00. > :04:02.butter. How long can they be in that place for when other companies are
:04:03. > :04:10.really stepping forward? I think you are absolutely right. Looking at
:04:11. > :04:15.Nokia, there was a smart phone revolution several years ago. Now we
:04:16. > :04:22.are seeing companies like Amazon and the like, that could perhaps be a
:04:23. > :04:25.driving force in where they need to go. They obviously have a huge
:04:26. > :04:31.amount of data from a huge amount of customers, but what are they going
:04:32. > :04:38.to do with that in terms of their customers? If you were to bring back
:04:39. > :04:42.the profits to the United States, what are they likely to do with
:04:43. > :04:47.their shares? They are talking about a share buyback, share dividends are
:04:48. > :04:53.not sort of thing. Will they plough back into some sort of great new
:04:54. > :04:59.idea? You could do a lot with that kind of money. You certainly could.
:05:00. > :05:04.I think my personal view would be that perhaps they are going to need
:05:05. > :05:11.to look at an acquisition. That is going to help drive direction. The
:05:12. > :05:15.tax implications and benefits associated would play a role in that
:05:16. > :05:20.decision. They need to look at how the cash is going to let them move
:05:21. > :05:23.in a slightly more innovative direction, beyond what everyone
:05:24. > :05:31.already knows. What will we be saying about them in a year's time?
:05:32. > :05:33.IPhone sales dipping? I hope we are not talking about the iPhone as much
:05:34. > :05:39.as everyone is now! Now, an Indian IT firm says it
:05:40. > :05:50.will go on a hiring spree in the US. Rico Hizon in Singapore
:05:51. > :06:00.will tell us what's going on. What is going on? It is a jobs
:06:01. > :06:04.bonanza from Infosys technologies, they will be opening for Mac
:06:05. > :06:11.technology centres in America over the next two years, employing 10,000
:06:12. > :06:15.people. This comes as Indian technology conglomerates are facing
:06:16. > :06:20.criticism over hiring low paid workers on temporary visas -- four.
:06:21. > :06:25.Many of them rely on a visa which Donald Trump has told federal
:06:26. > :06:33.agencies to review. Infosys did not give specifics on jobs, but it did
:06:34. > :06:41.say it would seek experienced candidates from colleges. We will
:06:42. > :06:46.know soon. Vienna is the home state of Mike Pence, and analysts say that
:06:47. > :06:56.more hirings would push up costs for Indian IT firms. Politicians,
:06:57. > :07:00.lawmakers and officials from the Donald Trump administration have
:07:01. > :07:08.also said they may not make dramatic changes to these these rules. --
:07:09. > :07:10.these visa rules. France goes to the polls on Sunday
:07:11. > :07:13.in a tightly contested In these final days of campaigning
:07:14. > :07:20.immigration policy has increasingly ominated the airwaves,
:07:21. > :07:23.but as Theo Leggett reports, immigration
:07:24. > :07:29.is integral to many parts This town is a melting pot of
:07:30. > :07:32.different races and cultures, the results of more than a century of
:07:33. > :07:37.continuous immigration. This building tells a story about how the
:07:38. > :07:41.effects of immigration are woven into the fabric of this town.
:07:42. > :07:47.Immigrants built it in the 1930s and it housed the families of other
:07:48. > :07:52.immigrants who came here, attracted by industry and the need for
:07:53. > :07:57.manpower. The history of migrants is categorised at a local cultural
:07:58. > :08:01.centre. The first arrivals came in the textiles industry. More
:08:02. > :08:06.recently, newcomers have been refugees. We have welcomed a number
:08:07. > :08:15.of people from the Calais jungle. Mostly people from East Africa and
:08:16. > :08:20.Afghanistan. We are working on thinking of a better way to welcome
:08:21. > :08:24.these people and to face the economic, social and political
:08:25. > :08:29.challenges that raises. Immigration has become a central issue in the
:08:30. > :08:34.election campaign. It divides opinion. I don't know whether we
:08:35. > :08:46.need more immigrants, but we have room for many more. There are too
:08:47. > :08:49.many immigrants. It would be great for the country to have more
:08:50. > :08:57.immigrants. Life is not always easy for emigrates. Teaching a group of
:08:58. > :09:01.people to speak French, they arrived in the country decades ago. Now
:09:02. > :09:09.retired, many live in poverty and struggled to cope -- immigrants.
:09:10. > :09:14.Life is not easy, they have been here for 50 years, and now they are
:09:15. > :09:18.just trying to survive. Whoever wins the election will have to face the
:09:19. > :09:23.question of what to do at that future migration, and also the
:09:24. > :09:25.social and economic questions raised by past generations of foreign
:09:26. > :09:40.workers. In other news: Italy's troubled
:09:41. > :09:43.flagship airline Alitalia has gone into administration
:09:44. > :09:44.after the Italian government The company said its flight schedule
:09:45. > :09:48.would continue to operate as planned, while administrators
:09:49. > :09:51.examine whether the firm can Alitalia has received more than 7bn
:09:52. > :10:00.euros from the Italian state over That is the World Business Report.
:10:01. > :10:01.Most of the markets in Asia are closed. I will see you