With a lawsuit for fraud. Shares of the owner of snapchat plunged 14 after the social media firm reported more than 400m in quarterly losses and fewer than expected users. Hello and welcome to World Business report. My name is susannah streeter. In a minute well look at the very expensive business of having a baby. But first, ride sharing giant ubers horrible 2017 continues. In june its co founder, Travis Kalanick, was ousted as Chief Executive after a series of scandals hit the company. He is now being sued forfraud by one of their biggest investors. Dave lee reports in san francisco. When Travis Kalanick was forced out as Chief Executive of uber, he kept as Chief Executive of uber, he kept a seat on the companys board, and also a10 stake in the firm. But since then, it is alleged that he has been concocting a plan to get his seat back. He told allies that he was doing what stevejobs did, having left only to front and the return to apple. It is said that he fraudulently expanded the board to make such a return possible to him. Benchmark capital said it would not have agreed to more board seats if it knew Travis Kalanicks plans. If successful, it could seek Travis Kalanick kicked out of the company that he helped build into what it is today. Dave lee, bbc news, san francisco. Shares in snap, the company that runs snapchat, have fallen again after its latest set of results disappointed investors. Snapchat launched in 2012 as a mobile app that allows users to send photos that vanish within seconds, and has gone on to become a big hit with millennials. Snap said the number of daily active users, the measure the markets are most interested in, rose by 4 to 173 million, compared with the first three months of 2017. Compare that with instagram stories, a service on the instagram platform that closely resembles snapchat it has 250 million users. Revenues at snap almost doubled for the quarter to 181] million, which was lower than what analysts had been forecasting. And the losses are piling up. The tech firm made a loss of 4411 million, which was quite a bit bigger than the last quarter. The company has had a rough ride on the markets since it went public in march with Blockbuster Valuation of 28 billion. These results came out after the closing bell in the us but in after hours trading shares were down by 14 . With me is mike weston, founder of Marketing Agency radiate b2b. Hello. Thank you for coming in. These are some disappointing results. Particularly its active daily users number. Yes. It is clear that the growth in daily active users has slowed down from where i was 12 months ago. What is disappointing is that here is a category that snap invented, and they are being outplayed by, as you say, instagram and facebook with whatsapp. It does show that a very successful company, which are undoubtedly snap is in terms of its attraction to millennials, those younger users that the tech firms are desperate to attack. They are still faced with the might of facebook and it is difficult to grain down, is that . Difficult to gain ground, isnt it . Yes, the Advertising Market is not there that they need to bring the losses down. But the active users are still growing. And there is a lot of innovation within snapchat, offering different devices and technology to attract users. What do you forecast for the company . They are in a difficult spot. They have demonstrated over the last four or five years that they are capable of innovating quickly and effectively. The problem they have is that everything they do get copied very quickly and effectively, by instagram in particular. They need to up the anti in innovation stakes. Ante in. We have yet to see what snap could be of the pullout of the back to rescue their fortunes at this point. Facebook seems to have a stranglehold on the market, dont they . It shows how difficult it is for disrupters to come in and disrupt, notjust for disrupters to come in and disrupt, not just in for disrupters to come in and disrupt, notjust in this realm, but in other rounds in the tech sector. For instance, as on, every competitor finds it hard to break through. Is interesting to see what happens with us on an debt messaging platform, which has been spoken about over the last few weeks. Amazon and their messaging. Their number of active users are not trivial, but it is just not enough. Thank you very much to join us, trivial, but it is just not enough. Thank you very much tojoin us, mike weston. Forjoining. Babies are big business and an increasing number of parents think that whats best for their child has a high price tag. In the us thats fuelled by a growing premium market, as parents blow budgets to make sure they have the get hold of luxury brands, as Michelle Fleury reports from new york. When we were growing up, we never had all of these options. When we were growing up, we never had all of these optionslj when we were growing up, we never had all of these options. I never even had a car seat. Shopping for a babyis even had a car seat. Shopping for a baby is not would be used to be. Meet us, women would come down and see the stroller pitch, and they we re see the stroller pitch, and they were start crying, because there are so were start crying, because there are so many options. There is an explosion of choice. Just takes rollers. It is an easy fold. This man, also known as the baby guy, is an expert on the gear. There were two reverse investment, spending more money in the cribbin the mattress. To him, the current trend started with the bugaboo stroller. They were the start. They cannot with this great stroller, and others had to step up their game. Bugaboo stroller. And that trickle down into other categories. In america, women are waiting longer to have children. By then, they often have more disposable income. And the industry is growing fast to cater to them. This year, the Global Market for ba byca re cater to them. This year, the Global Market for babycare products is expected to reach 66. 8 billion. For all the cuteness, this is a billion dollar industry, with baby companies focused on trying to figure out how to get expectant pa rents to figure out how to get expectant parents to spend more. And the choices can be world in and jones can be the world are in. These pa rents to can be the world are in. These parents to to knowjust how well how daunting it can be. It was an upper tier of product available, which is aimed at people who are very wealthy. It is easy to get wrapped up wealthy. It is easy to get wrapped up in it. It is very expensive. You can get so caught up in it, especially on instagram, when you look at the pavic lies some of these families have. They always beautiful, and their homes are so wonderful, and they have so many perfect baby items, so you think you need certain things. Take every pa re nts need certain things. Take every parents desire to get the best for their kids, filled with the Classic Key Consumer Desire to keep up with the joneses and Big Key Consumer Desire to keep up with thejoneses and big profits for the ba byca re Companies Thejoneses and big profits for the babycare companies seem to be childs play. What do you think . Please join in on the conversation online. How much is enough to spend on your new baby . Let us know your thoughts. Businessofbirth on facebook or whatever platform you choose. Choose. In other news, corporate regulators in australia say theyre reviewing Money Laundering accusations against commonwealth bank. The chairman of the countrys securities and Investment Commission told parliament this morning that theyre looking into whether other corporate laws were broken. Australias treasurer described the latest scandal engulfing the countrys biggest bank as an epic fail and incredibly serious. Cyberspace administration of china accuses certain sites of failing to remove violent and obscene content, as was terrorism content and fake news. This includes sites such as we chat and we bow. Thats check in with the Financial Markets now. The standoff between the us and north korea has been Rattling Markets worldwide. Appetite for risky assets is low instead investors are piling into perceived safe haven assets like gold, the swiss franc, and the yen thats put a bit of pressure on the nikkei which is holding up reasonably well. But other indices in asia are also feeling the effects of the Sabre Rattling on wall street dowjones, and s p 500 suffered their biggest losses in nearly three months. Al gore says the us looks likely to meet its obligations to the paris accord, in spite of Donald Trumps decision to pull out. Mr gore told the bbc that the entire world and the bbc that the entire world and the largest states had pledged to honour the deal. I was relieved when the rest of the world redoubled their commitments to the paris agreement, and then the us, our largest states, and hundreds of cities and Business Leaders said we are still in the paris agreement. And now looks as if the us history to meet our commitments, in spite of donald trump. So with the cost of renewa bles donald trump. So with the cost of Renewables Coming down so quickly, many cities are now shipping in the us towards 100 renewable energy. The first date on which the legal withdrawal could take place, in any case, is the day after the next president ial election in 2020. But more importantly, State Goverment and local governments and businesses are moving forward with reductions, in spite of donald trump. Human traffic and has become so widespread that there are victims in every large city and town in britain. Human rights activists have long campaigned against modern day slavery. It is surprising, actually, where these people can turn up. It could be the people who are picking strawberries in the fields, if you are in a rural area. It could be the girl who is doing your nails in the nail bar that doesnt speak very good english and seems very shy and frightened to speak. It could be the guy washing your car in one of these hand carwash places. So these are the sort of places and of course, the sex industry is an industry where there are very many such people. Coming up at 6am on breakfast, the team will reveal which airports and airlines have the worst summer flight delays. Do stay with us for that. This is bbc news. The latest headlines President Trump has again threatened north korea if, as he put it, it even thinks about attacking the united states. His defence secretary, james mattis, said war would be catastrophic and insisted diplomacy was bearing fruit. Kenyas Electoral Commission rejects Oppoisition Claims of massive fraud in the president ial election. International observers say the result is credible. A coach has crashed into the wall of a tunnel in northern china, killing at least 36 people. 13 others were hurt. Its not clear if other vehicles were involved in the crash. The scandal over contaminated eggs in europe continues to spread. 20 tons of infected eggs have been sold in denmark. Now its time for our news review. Starting with north korea. The picture on front of the independent appears to show thousands of people rallying in the north korean capital pyongyang. Us defence secretary, james mattis, said efforts to deal with north korea are still led by diplomacy. His comments came only a few hours after us President Donald Trump said his earlier threat to unleash Fire And Fury on pyongyang may not have been tough enough. The gulf news says the scandal over contaminated eggs in europe is still spreading. 20 tons of infected eggs have been sold in denmark where Authorities Say some were found to contain traces of fipronil, an insecticide used on animals. The gulf News Business pages look at 0pec, who have boosted estimates of demand for crude oil this year amid stronger than expected fuel consumption. It raised forecasts for the amount it needs to supply by 200,000 barrels a day. Also in the guardian, tourists in spain are facing a backlash from locals who are fed up with overcrowding as well as housing becoming more expensive. Alternatively, some european holiday makes are also avoiding spain due to high prices and are turning to cheaper destinations like bulgaria. And finally, the telegraph reports on concerns over a new Do It Yourself divorce form which lawyers are warning could lead to thousands of people being accused of adultery. The online form includes a section for the petitioner to fill in the details of the other person your partner committed adultery with which lawyers say could expose some people unknowingly