We start in the us, where shares of meta, hello. If you are justjoining us, you are in time with the top business stories. We start in the us, where shares of meta, the owner of facebook, instagram and whatsapp plunged in after hours trading after its forecasts disappointed wall street. Investors are concerned the huge amount meta is spending on Artificial Intelligence may not translate into higher profits. Lets show you the details. When it comes to how much money meta is making, profits came in at 12 point 4 billion in the first three months of the year. Thats more than double the amount it made this time last year, and better than expected. But heres one of the numbers worrying investors, meta expects its costs to rise to almost 100 billion this year, as it invests heavily in al and virtual reality. Coupled with a forecast that revenues will barely grow in the Current Quarter that sent shares plunging some 13 in after hours trading. Wiping as much as 160 billion off its stock market
A hugely consequential day for donald trump. The criminal trial resumes in manhattan, a decision is pending on the gag order which he continues to flout. And a hearing in the Supreme Court on whether he is entitled to president ial immunity. All that within hours of trump being named as a Co Conspirator in a new set of indictments in arizona. We have got top legal analysis for you tonight on a whole string of legal problems facing the former president. Also tonight the case that sparked the metoo movement. A top court in new yorks today overturned the 2020 conviction of the hollywood mogul harvey weinstein, on grounds he did not receive a fair trial. The Scottish First minister scraps the snps Power Sharing Agreement with the greens. Opposition parties are threatening a vote of no confidence. And we will look at labours proposal to renationalise the uks railways. But is it full fat nationalisation we will get you an expert view. Good evening. The Declaration Of Independence held certai
And Manchester City close the gap at the top of the Premier League with a convincing win, away to brighton. On bbc london. On newsnight at 10 30 p m. This morning, the Surprise News that the snp and Green Coalition collapsing. At bedtime, what is left of homes thats coalition which are marked and what does it mean for the coalition . The snps Power Sharing arrangement, with the scottish greens. He now leads a Minority Government a predicament seized upon by scottish conservatives, whove called a vote of no confidence, which the scottish greens now say theyll back. If he loses the vote, due next week, his position could become untenable barely a year since taking over as First Minister from nicola sturgeon. So, how did it come to this, and could he still cling on . With the very latest, lets joinjames cook, our scotland editor, live in edinburgh. Well, its been a day here of harsh words and of recriminations, of allegations flung, of defences and indeed of some political drama, with the
Meta Ceo Mark Zuckerberg piqued investors interest when he predicted 2023 would be the year of efficiency, and he won them over when he delivered on it. The stock nearly tripled last year. This year, meta shares are up another a0 . But on wednesday, meta released its First Quarter Earnings Report and shares initially slumped during after hours trading. Facebook s Parent Company did Beat Expectations on revenue and earnings, but it disappointed on its Revenue Forecast for the Second Quarter of the year. Higher expenses also weighed shares down. So wednesdays Earnings Report marked a back down to earth moment for the formerly red hot tech giant, and it moderates expectations for the months ahead as the company grapples over how to generate profit off of Generative Aland drum up Advertising Revenue in an increasingly crowded market. I spoke to tech analyst ray wang of constellation research, and asked him what he made of metas soft outlook. They outperformed in their results, but the chal
And here in london lord Peter Ricketts, former British Ambassador to france who also served as the chair of thejoint intelligence committee. First, the latest headlines. The disgraced hollywood film producer, Harvey Weinstein has had one of this Rape Convictions overturned by the new york appeals ccourt. A panel of seven judges have ordered a retrial. He will stay in prison after being convicted of rape in a separate trial in california. A Transitional Council has been sworn in to lead haiti after the Prime Minister, ariel henry, resigned. The body is tasked with Organising Elections and restoring order to haiti, which is suffering from a wave of deadly gang violence. Ukraine has begun using long range Ballistic Missiles that were secretly provided last month by the us. President biden personally approved the shipment after russia began using similar weapons it had secured from north korea. Americas top diplomat, antony blinken. Americas top diplomat, antony blinken, is on a trip to ch