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
That s where the statement stands but the matter still under investigation but by become significant, is because xiamomai has a massive stake in india, it is the leading smartphone seller from figures of 2021, it had 25% of the indian market share, number two was samsung, this is going to be very important to watch out for, this becomes yet another example of how several chinese companies continue to come under the scanner and be scrutinised by indian central agencies, especially since relations and between both countries nosedived since that violent altercation between the indian and chinese border back in 2019. 2020. a little over a decade ago, the name fisker was being spoken of in much the same way as tesla. fisker automotive had developed a plug in hybrid sport scar
It is well below 25,000 now. charles payne is here, thank goodness, host of making money on the fox business network. charles, this puts the dow and the s & p into negative territory for the year after talking about all those records earlier on. those have all gone away today. they are. and i think the more important thing though is what the market is suggesting. there is a whole lot of confusion out there. really the interesting thing is what s moving markets most this week are all based on speculation, right and guessing. a lot of unknowns. it s the unknowns. what was added to the he waition was the revelation of the arrest of the cfo of the largest telecommunications company in china and second largest smartphone seller in the world and notorious or violating u.s. laws and sanctions and what they may have been selling to iran in this case. the arrest took place on sunday.