we begin today with samsung electronics. it s forecasting a likely 96% plunge in first quarter operating profits. in a preliminary earnings report, the world s largest memory chip and tv manufacturer estimated its operating profit fell to $455 million for the first three months of the year. samsung electronics is going to release its full earnings later this month. katie silver sent this report from the bbc s asia business hub in singapore. in its preliminary estimates, samsung says its operating profits fell by about $450 million in the january march period this year, when compared to the same time the previous year. now demand for memory chips ramped up during covid lockdowns as consumers bought new electronics to use at home think new phones, computers, those expensive smart washing machines all of those use a lot of chips. but with fears of an economic recession looming, consumers are buying fewer tech devices, reducing demand for chips and, as a result, the companies
kevin mccarthy in california. and an early morning statement the spokesperson for the chinese ministry accused washington of colluding with taiwan especially over the issue of arms sales. earlier mr mccarthy said they must strengthen economic cooperation with the island that china has claimed as its own. claimed as its own. whether it s out deep claimed as its own. whether it s out deep commercial - claimed as its own. whether. it s out deep commercial ties, strong people to people relationships or shared values, our cooperation with the people of taiwan continue to expand through dialogue and exchange. mr mccarthy is the most senior us figure to meet with a taiwanese leader on american soil since 1979, taiwanese leader on american soilsince 1979, despite taiwanese leader on american soil since 1979, despite the rhetoric, though, taiwanese firms do big business with both china and the united states in fact china is taiwan s largest trading partner. earlieri spoke with the
in california, in an early morning statement, the ea rly morning statement, the spokesperson early morning statement, the spokesperson for the chinese ministry accused washington of colluding with taiwan, especially over the issue of arms sales, earlier mr mccarthy said washington must strengthen in economic cooperation with the island that china has claimed as its own. whether it is our deep claimed as its own. whether it is our deep commercial- claimed as its own. whether it is our deep commercial ties, l is our deep commercial ties, strong people to people relationships, our shared values, our cooperation with the people of taiwan continue to expand through dialogue and exchange. mr to expand through dialogue and exchanae. ~ a ., , , exchange. mr mccarthy is the most senior exchange. mr mccarthy is the most senior us exchange. mr mccarthy is the most senior us figure - exchange. mr mccarthy is the most senior us figure to - exchange. mr mccarthy is the | most senior
the former us president donald trump after he pleaded not guilty to sa criminal charges and a new york court. mr trump is accused of falsifying records and paying hush money to hide damaging information during the 2016 election. lots more of course on the bbc website is always and continued coverage right here on bbc news but away from that story and what could be one of the us largest product liability settlements. johnson &johnson has proposed paying almost $9 billion to settle lawsuits alleging the company s talcum powder is because cancer. the new move seeks to resolve all current and future claims. samaria hussein has more. johnson &johnson has been dogged for years by claims that it talcum powder causes cancer. in 2021 it in newjersey brought by 22 women who blame the company s product for their ovarian cancer and that same year it set aside another $2 billion to try to settle all future claims in what could add up future claims in what could add up to thousands of law
want to show you how the markets fared overnight. as you can see here on our screens the dow and the s&p 500 closing higher. that is in part to the energy sector index which surged after opec plus s announcement. inflation concerns have been tempered by expectations that the us central bank could soon end its monetary tightening campaign. and oil output cut will mean higher prices and we could see that starting from next month. my that starting from next month. my colleague has more.- my colleague has more. many anal sts my colleague has more. many analysts believe my colleague has more. many analysts believe that - my colleague has more. many analysts believe that the - analysts believe that the coalition of oil producing nations really want to keep the price of oil above $80 a barrel, even hovering around $90 a barrel. a higher price of oil has wide ranging implications. it will make producing goods more expensive for companies and if prices stay high for a while it will