Welcome back ourwitnesses and i now recognize the gentle lady from washington. Thank you mister chairman and thank you all for your very informative testimony. You all touched on this but a common refrain we hear from companies is during the course of this committees investigation but also just on my own i have many of them in my district is that they cant possibly be violating antitrust laws and the primary argument is that its because many other products either cheap or free and therefore consumers are inherently benefiting. You all have indifferent ways talk about this. To me the big question of course is is free really free . Consumers i think its increasingly clear are paying for the products that they use read theyre paying in data, theyre paying in privacy and often dont know theyre giving up and of course the Big Tech Companies use that data to build these massive empires of information about consumers then give them spectacular advantage over newcomer businesses, allow these c
The subcommittee will come to order. The chair is authorized to declare recesses at any time. This one on the role of data and privacy in competition. I recognize myself for an opening statement. I should state the obvious, im not the chairman of the subcommittee. The chairman of the subcommittee will be here in a few minutes. Digital technologies have provided americans are a remarkable array of services. It has never been easier to share news and information, to publish content and communicate with loved ones. As with technological revolutions of the past this has up ended the balance of power across our country. Its important to understand how these imbalances are affecting americans. The committees ongoing oversight of competition in Digital Markets is a key part of this process. Todays hearing will examine the role that data plays in creating rolls of power and how this affects competition. As previous hearings have shown, its controlled by a small number of companies. They are pe
Trade deal, and also expectations for another Federal Reserve Interest Rate cut all pushing most markets higher. Lets talk about the global oil giant, bp, announcing its latest results in the coming hours. Its the last set of numbers for current boss bob dudley, who revived the company after the deep water horizon disaster left it on its knees. Deep water horizon. However, big challenges await his successor, with growing climate concerns leading many to question big oils long term viability . Public opinion is arguably turning against the sector. The Royal Shakespeare company is ending its partnership with bp at the end of the year, saying it could not ignore the strength of feeling against the deal. Meanwhile, in the us, exxonmobil is in court fighting a claim that it misleading investors about the potential costs of climate regulation to its business. And Climate Change is arguably already having a measurable impact on the industry. The number of big Institutional Investors, like pen
Drop in profits. Bp now down 1 on lower profits despite producing more oil than it did last year. We will talk you through its latest numbers. Also in the programme. Boris johnson will today try for a fourth time to secure an early general election, after mps rejected his plan. And fashions big hang up. Plastic coat hangers have been likened to the plastic straw of the fashion industry. We will hear from one we will hearfrom one man we will hear from one man with designs to switch it to a sustainable alternative. Well get the inside track on tackling unmanageable workloads and long hours. Well talk to the co founder ofa hours. Well talk to the co founder of a firm looking to change the way we work. Also today, we want to know do you have a cold . Most of us get between one and three a year. New Research Suggests what you do in the 24 Research Suggests what you do in the 2a hours is critical. What are your tips . Use our hashtag. Ive already had one cold this winter and hopefully i wont
Asia where we count down to asias major market open. Haidi apples sales disappoint overshadowing record Quarterly Services revenue. Amazon gaming after the bell as the outlook beats the street. A risk off following a slump in u. S. Stocks and bonds focus shifting to fridays jobs report for clues on the feds next steps. Donald trump pleads not guilty in a washington courtroom on charges of trying to obstruct the 2020 president ial election. It election. We are getting news when it comes to singapores ocbc reporting Second Quarter net income of 1. 71 billion sing dollars. A little shy of 1. 7 4 billion. Being declared of 40 sing cents. Net interest margin at 2. 26 , the estimate was for 2. 25 . The common equity tier one ratio sitting at 15. 4 . Noninteresting cover, one point z7 bion sing dollars, a little bit of a beat on expectations, total income at 3. 6 billion be on expectations, profit seems to be increasing based on a year ago based on what we heard from analysts. We had been exp