An auditors sign off on its much delayed results and avoids delisting but analysts warn its future still hangs in the balance. And Silicon Valley is setting an example when it comes to paid Maternity Leave in america. But will the rest of the country follow . Welcome to World Business report. Im sally bundock. Also in the programme, facebook revamps its television offering. Challenging you choose and other television networks. We will fill you in on that injust a moment. But first, the mystery over how much money toshiba is losing or making could soon be solved. The troubled Japanese Tech Giant says auditors have signed off its Financial Results for the year to the end of march. This comes after months of delays and should mean toshiba avoids an immediate delisting from the top tier of the Tokyo Stock Exchange. It has now been revealed toshiba made an 8. 8 early in dollars loss. 8. 8 made an 8. 8 early in dollars loss. 8. 8 billion dollars. So whats gone wrong for the 40 year old japanese giant . Well, two years ago an Accounting Scandal was revealed that led to the resignation of several members of the firms senior management, including the boss. At the time company was found to have inflated the previous seven years profits by a massive 1. 2 billion. Problems came to a head again this year, when toshibas us nuclear unit, westinghouse was forced to file for Bankruptcy Protection after suffering a 13 billion cost overrun. As you can imagine its proving pretty difficult to find a buyer for westinghouse so toshiba has yet to confirm any interest. So in a desperate move toshiba is forced to put up for sale its prized chips unit. This is a major part of its business, that makes memory chips for smartphones and computers. Analysts have valued it at about 18 billion. All of this has taken its toll on the companys share price, which has effectively halved, and in april toshiba actually warned that its survival may be at risk. Joining us now from tokyo is damian thong, tech analyst at macquarie group. Good to see you. Give us your reaction to the news we have heard today, this loss of 8. 8 billion dollars. How bad is that, or is it in line with what people were expecting . I think the market is looking forward. The losses, in many ways, are a thing of the past. It is important to know what they were, but what the market really wants to know is whether they can sell the Memory Business in time to avoid the listing at the end of the fiscal year. We will see that in the First Quarter results. The Memory Business is going through a phenomenal period, profits are through the roof. If you look at the four year guidance that has been given, basically all the profits for toshiba are in the Memory Business. If this is not the time to sell for good value, then in some sense, the chances of toshiba being able to afford to be Nuclear Liabilities in its future restructuring will be severely diminished. Everything hangs on the sale of the Memory Business. How is that a sale going . Given that sell got in trouble with various parts of toshiba. That sale. That is right. Toshibas long standing partner is opposed to a disposal. And there are issues such as anti trust hurdles that toshiba would have to cross with the sale. The time, the window for this to happen, is getting rather short. If they do not clear the sale by the end of this fiscal year, which ends in march, the Tokyo Stock Exchange will be put in a situation where toshiba will be in breach of the rules and they would have to look at the delisting criteria. Financial solvency is not the issue. However, it will still be able to certainly the prestige of the company, and also, i certainly think it could lead to further issues in the sequencing of future reforms. Getting the deal done to sell memory will wobbly have to be done sometime in the next one or two months. Probably. Lets assume they successfully sell the memory chip unit, which is worth a locked and is doing extremely well. What is left of toshiba, if it sells that unit . You speak about restructuring and dealing with the westinghouse loss. But what is left for toshiba . Dealing with the westinghouse loss. But what is left for toshiba . M will be a very reduced company. In many ways, it will be focused on the old economy, including things like thermal power, as well as some of its Old Industrial businesses, like industrial motors, and selling freight locomotives. Certainly i think they will probably have to restore both the customer trust, so that they can win new business again, and also basically shift them all the way from making things towards providing services, to create recurring Revenue Streams that are profitable in the long term. The cultural shift that is required will take many years to come. What the sale of the Memory Business gives them is the Breathing Room to make the necessary reforms, to be much healthier but also to be a much reduced company, compare to the glorious heyday. Thank you for yourtime, we the glorious heyday. Thank you for your time, we appreciate it. Just to say, of course, the news is coming out from toshiba. More details are coming through all the time. We will keep you up to date here on World Business report. Facebook has announced it is launching a new service designed to compete with television. Users in the us will soon see a new watch tab that will offer a range of shows, some of which have been funded by the social network. This opens up new Revenue Potential for both facebook and Programme Makers users can of course expect to see targeted advertising before and during the shows. A global rollout will follow in due course the question is, how concerned are the likes of youtube . We be discussing that more detail later. The owner of fox news and twenty First Century fox movie studio looks to have benefited from a trump bump. Fox said revenues rose by 1. 5 to 6. 8 billion in the Fourth Quarter after ratings at its Cable Tv Business improved and drew in more advertisers. Fox is owned by media mogul rupert murdoch. He is looking to buy the rest of european Tv Station Sky that it does not already own for 14. 5 billion. And now for our latest instalment in our business of birth series that has been running across the bbc all this week. Today we turn Silicon Valley where tech firms like google and facebook are leading the way when it comes to offering paid Maternity Leave. The us is one of only three countries that doesnt require paid leave guarantees. But president trumps daughter is trying to convince her father that it needs to be a priority, so is change coming . Our North America Tech Reporter dave lee went to find out. When eileen decided it was time to have children, she knew that herjob in pr for Technology Companies would become untenable . In pr for Technology Companies would become untenable . |i in pr for Technology Companies would become untenable . I have been thinking for a long time about all of the ways that work does not align well with being a professional parent. She decided to set up her own firm and set about putting in place family family policies, the types which most people in this country do not have access to. I decided to be intentional about building a business where we could be our whole selves. The mothers among us have in very clear with the other employees that if they have things they need to per shoe that fall inside of normal work hours, they can prosciutto is also, so that we are not favouring one stage of life over another or penalising anybody in favour of another. Pursue those also. Raising a child in the us is incredibly difficult and costly. Just 12 cent of rye that Sector Companies offer paid Maternity Leave for their employees and the us is one ofjust three countries in the world not to have a paid rental leave law. There is hope Silicon Valley could be starting a trend that changes that. Moms rising campaigns for Maternity Leave. There has been lots of momentum around Tech Companies for increasing Maternity Leave, and in some cases family leave and medical leave as well. It shows that it makes Good Business sense. These companies would not doing it if it was not good to their bottom lines. That is good to their bottom lines. That is good for the economy and very good for the individualfamilies good for the economy and very good for the individual families and employees. One of those Technology Companies is godaddy, the Worlds Largest seller of internet domain names. The company has faced criticism in the past for being an overly macho workplace, which is prevalent in Silicon Valley. Like lots of other Tech Companies, we have similar issues. We are trying to resolve those and continue to build an awesome culture where people can do the best work of their lives. Anybody who is a new parent can get 12 weeks off, paid, to go and welcome their new family member. The birthing mother gets an additional six weeks she is able to recover as well physically. Silicon valley is perhaps best placed to set the example, given the fierce competition for top talent. Progress requires people at the top of the companies to value both successful careers and happy families. I am sure you have a few on the stock get in touch with me on twitter, and use the hashtag businessofbirth. There isa the hashtag businessofbirth. There is a real debate about all of that. I will be back in a moment. Stay with us. A widow has spoken of her shock and horror after a private gp who treated her late husband admitted failings in the case. Dr Peter Wheeler, who was princess dianas doctor, has acknowledged he failed to properly monitor his patient by arranging the recommended blood tests. Our health correspondent, jane dreaper, has the details. A mother and son seeking answers. Stefa n a mother and son seeking answers. Stefan is died from Liver Failure after spending the last eight months of his life in hospital. His widow is suing the private gp who was the familys trust a doctor over the prescribing of a drug that stefanos took for a Skin Condition for over a decade. It is heartbreaking enough to lose your partner or 45 years. But the complete shock and horror when we found out that it had been totally avoidable. Doctor Peter Wheeler continues to practise at this private surgery, which was declared safe when has visited four yea rs declared safe when has visited four years ago. He has since admitted in legal papers for this case that there were no systems at the time for flagging there were no systems at the time forflagging up there were no systems at the time for flagging up the there were no systems at the time forflagging up the need there were no systems at the time for flagging up the need for regular blood tests in cases like this, and that he failed to properly monitor stefa nos. That he failed to properly monitor stefanos. Had he done so, his patient could have lived up to two yea rs patient could have lived up to two years longer. The lawyer working on the familys legal claim says it is one of the worst cases he has known. Private healthcare does have certain advantages over the nhs. It is more convenient, generally, and it is more comfortable. But it certainly is not better care. Doctor wheeler states in legal papers that stefanos would still have died from Liver Failure because of his diabetes and obesity. The doctor is under investigation by the general medical council. And coming up at six oclock on brea kfast, and coming up at six oclock on breakfast, Charlie Stapleton smack on shetty will help all of the days news, business and sport. Charlie stayt and like a chatty. This is bbc news. The latest headlines the United States and north korea are continuing to exchange threats. Pyongyang has announced what it calls a serious plan to target guam. The us says they must stop pursuing nuclear weapons, or face the destruction of its people. Kenyas Electoral Commission has dismissed accusations its Computer System was hacked. The Main Opposition Party has rejected provisional results which indicate a strong lead for president kenyatta. Now it is time for our news review. We begin with the guardian, and a warning to north korea from us defence chief james mattis, who said pyongyang risked the end of its regime and the destruction of its people if it attacked america or its allies. And, in the guardians financial pages, investors have sought Out Traditional Safe Havens such as gold and government bonds, as Tension Mounts between the us and north korea. The japan times says, according to diplomatic cables sent from us Secretary Of State rex tillerson, us envoys should sidestep any questions from foreign governments asking what will it take for the Trump Administration to re engage in the paris climate agreement. The telegraph focusses on the european union, reporting that brussels is facing an expenses scandal after it had to admit senior officials had claimed Tens Of Thousands of pounds to hire private jets and stay at luxury hotels
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