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
department shows that 236,000 fi refox newjobs were created in the us in march a very healthy figure, but showing a continued decline in the pace of newjob creation. it suggests that the economy is slowing down and the question on everyone s minds is what this data will mean to the us federal reserve when it makes its next decision about the interest rate in the us. here s our north america business correspondent, samira hussain. this reflects other data from the us, which suggests that perhaps the post pandemic crunch is coming to an end. we kind of knew that this was going to be reflected in the march jobs report. a, to be reflected in the march “obs reort, , ., ., to be reflected in the march “obs reort. , ., ., , ., report. a slowdown in terms of hirin: report. a slowdown in terms of hiring based report. a slowdown in terms of hiring based on report. a slowdown in terms of hiring based on the report. a slowdown in terms of hiring based on the data - report
tesla is recalling over 350,000 of its us vehicles to update its full self driving beta software system. this, after regulators said it did not properly adhere to traffic safety laws. tesla will now release a free update for the system. but as my colleague samira hussain explains, the full self driving beta software is a big part of tesla. this self driving technology for tesla is a big part of its business plan. it s what tesla and elon musk has been pushing and elon musk has been pushing and they believe it is the absolute future. elon musk has also said this self driving technology is better and in many cases safer than just regular drivers. but what tesla has shown is there has been incidents in which some of these technologies have caused accidents. while in this particular software update instance, they are saying that, look, what we are doing is to try and get this update to happen because there could be some issues when going through traffic, circles, going through in
surged 10% last year to $150 billlion. they have moved to reduce reliance on the us dollar by setting up payment clearing in the chinese currency, the yuan. former brazilian president dilma rousseff is to be sworn in today as head of the new development bank a rival to the world bank and imf set by by the so called brics countries of brazil, russia, india, china and south africa. let s speak now to william jackson, who is emerging market economist at capital economics. xi has been signalling the post covid reopening of china by hosting a series of world leaders. what can we read into the fact that brazil s leader has been among the first? you are absolutely right. as china moves into its postcode environment it seems to be wanting to spread its international wings. we have seen talks between saudi arabia and iran recently, and now we have cordial words with president lula, hayes and china at the moment. there is a big political angle to this, to find a way to cement relatio