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 b
President is in brussels meeting with key leaders from the European Union but will the worlds two most powerful Trading Blocks reach a deal . The American Food giant, kraft heinz, walks away from its proposed merger deal with rival unilever. It would have been the largest merger ever. Welcome to World Business report. Im sally bundock. Also in the programme, a nose for talent. Indias Perfume Industry takes on a unique hiring approach. But first the us Vice President mike pence meets the president of the European Council donald tusk in brussels this morning. They will try to mend fences after throwing rhetorical Fire Crackers at each other in recent weeks. While mr tusk described trump as a threat to europe, mr trump has praised the uks decision to leave the union and angered many nations with his travel ban. Between them the us and the European Union are the worlds two biggest Trading Blocs figures from 2014 puts the value of all goods and services traded between them worth over one tr
The week in parliament. A dream come true for many people, but a day others hoped would never arrive. The uk has told the European Union that it is going to leave. This is an historic moment from which there can be no turning back. Britain is leaving the eu. We are going to make our own decisions and our own laws. The terms of the uks divorce deal will be subject to intense scrutiny. The labour party set out its red lines. Labour will not give this government a free hand to use brexit to attack rights, protections and cut services, or create a tax dodgers paradise. And the Scottish Parliament voted in favour of a second referendum on independence. The snp urges the Prime Minister to show some respect. If she remains intransigent, and if she denies scotland a choice in our future, she will make Scottish Independence inevitable. The Journey Towards triggering article 50 began nine months ago. 52 of voters in the Eu Referendum put a cross next to the box that said leave the European Union
To dateline london. Two examples of Power To The People for us this week, but with very different responses from those in charge. Russia saw some of the largest Street Protests of Vladimir Putins 17 years in power, which ended with more than 1,000 arrests and the organiser in jail. Nine months after the british voted to leave the European Union, Prime Minister theresa may sent a polite letter to brussels triggering divorce after 44 years. To discuss the weeks events in russia and the eu, the russian born writer Alexander Nekrassov, michael gove mp, who was a conservative Cabinet Minister until last summer, and is now a columnist with the times. Stephanie baker of bloomberg news. And Stefanie Bolzen, from germanys die welt. Welcome to you all. Lets begin with britains exit from the European Union. Last summer, by a margin of 52 to 48 , people here voted to leave. Theresa may wanted to stay in the eu, but now she has the task of negotiating notjust brexit, as its become known, but also a
Where now for south africa . After last weeks massive Cabinet Reshuffle, President Zuma may face another vote of No Confidence. We talk you through whats at stake. Third time unlucky . Toshiba shares plunge in tokyo again on reports it may miss its results deadline, for the third time. Welcome to World Business report. Ina in a moment we will look at the Property Market in beijing as well. We begin in south africa where the parliaments speaker is considering a No Confidence vote request from the opposition of president jacob zuma. This comes after the countrys finance minster, Pravin Gordhan, and many other cabinet members, were sacked last week by the president which has had a big impact. Lets talk you through the reaction. Within hours of mr gordhans removal, the south african currency, the rand, fell sharply and was down over 5 against the dollar for the week. The Share Markets were also impacted seeing their biggest drop since 2015 with Government Bonds and Banking Stocks falling h