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
The highlight of the day will be the address by the world s most powerful central banker, jerome powell. delegates will be listening intently for any reassurances he can give. i am joined by matt orton, chief market strategist at raymond james investment management, he follows the annual outcomes of jackson hole. welcome, good to see you. what you think we can expect from jerome powell today?- jerome powell today? good morning. jerome powell today? good morning, good jerome powell today? good morning, good to jerome powell today? good morning, good to see - jerome powell today? good morning, good to see you. | jerome powell today? good | morning, good to see you. i jerome powell today? good - morning, good to see you. i am hoping and expecting we don t see very much. i would say i m not expecting to see too many fireworks one way or the other because the market has been doing well, the economy itself in the us has been holding up much better than i think most people would have ex