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
Just had the latest reading on the economy there for the first three months of the year. Official figures revealed the economy expanded at an annualised rate of 1. 6 , far below expectations and also less than the growth seen in the final months of 2023. Meanwhile, inflation, which measures the pace of price rises, has increased. At the start of the year, experts had been forecasting a series of Interest Rate cuts in the us so how do these figures play into that crucial decision . Lets talk to our north America Business correspondent now, erin delmore. Erin, the economy is growing but those figures arent as good as expected. It is inflation that is still a big issue . W , it is inflation that is still a big issue . , , ~ , issue . Exactly. Numbers like this like gdp give issue . Exactly. Numbers like this like gdp give us issue . Exactly. Numbers like this like gdp give us a issue . Exactly. Numbers like this like gdp give us a good issue . Exactly. Numbers like this like gdp give us a
A damning report on the mistreatment of detainees at an Immigration Removal Centre has recommended a time limit on the length of their stay. A Public Inquiry found a toxic culture among staff at brook house near gatwick airport. It follows a bbc Panorama Investigation in 2017. Our Home Affairs Correspondent tom symonds has seen the report which has just been released in the past hour, and joins me from central london. Tell us more first of all about the findings of this inquiry . Findings of this inquiry . Well, jane, it findings of this inquiry . Well, jane. It is findings of this inquiry . Well, jane, it is worth findings of this inquiry . Well, jane, it is worth saying findings of this inquiry . Well, jane, it is worth saying that i findings of this inquiry . Well, l jane, it is worth saying that this jane, it is worth saying that this inquiry would not have happened if an 18 year old Detention Custody Officer called callum telly had not contacted the bbc and then agreed to take hid
The Lake County Commissioners are continuing to take no action on contracts inked by Sheriff Oscar Martinez Jr. that specifically pertain to the Lake County Jail.