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World Business Report: First broadcast 02/02/2022 22:32 GMT : Meta shares plunge more than 20%

Bulletins

Regulating future technology

First broadcast 02/02/2022 22:32 GMT 

First broadcast 02/02/2022 22:32 GMT : Meta shares plunge more than 20%

Meta shares plunge more than 20%

BBC World Service - World Business Report, Meta shares plunge more than 20%

Mixed fourth quarter financial results sent shares sinking

It's been a bad day for Big Tech. Shares in Facebook's parent company, Meta, dropped 20 percent in after-hours trading, following the release of its Q4 figures for the end of 2021 and its numbers for the whole calendar year.

The European Union has outlined a strategy for regulation of new and emerging technology. Competition chief Margrethe Vestager gave details of the proposals, and we find out more from Javier Espinoza of the Financial Times. 

Also in the programme, the oil producers' cartel OPEC and its allies met today, and agreed only a moderate increase in output, despite calls from some oil consumers to go further in a bid to reduce prices. 

20 years ago, America's National Football League introduced the Rooney Rule, in an attempt to increase the number of black and ethnic minority candidates hired to NFL coaching and executive positions. One black coach, Brian Flores, is now suing the league, alleging teams invited him for head coach job interviews purely to pad out their Rooney Rule statistics. Jeremi Duru is a law professor at the American University in Washington DC, helped draw up the Rooney Rule, and gives us his reaction to the lawsuit. 

There's a warning from the giant investment bank BNY Mellon that global investment firms are missing out on potentially as much as three trillion dollars' worth of investment because they are not attracting female investors. Anne-Marie McConnon from BNY Mellon discusses their findings. 

(Picture: Getty Images)

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First broadcast 02/02/2022 22:32 GMT : Meta shares plunge more than 20%

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