Tech takedown. President trump signing an executive order effectively banning tiktok from operating here in the u. S. The order goes into effect in 45 days unless those apps are sold by their Chinese Companies 35 billion off wechat overnight in hong kong this is a nearly 700 billion company. Perhaps more surprising that its been able to fly under the radar for so long. A ban could get very messy because tencent is far more intertwined with American Business than tiktok theres the sheer scale of tence tencent. Fallout could touch sports to. Tencurre tencent has a deal with the nba to stream games in china theres also American Businesses operating in china relying on the app like starbucks, disney, mcdonalds the socalled super app is where a billion active users in china can shop, spend, stream, game much more within a single app. For that reason, apple and google could also sufficient if users switch because they cant access tencent apps. Talk is turning to how the chinese might retalia
Being reported in the countrys financial and Business Capital of milan Major International events such as milans fashion week are scaled back all cancelled outright schools and universities are closed and passengers on International Trains out of milan are being tested for the virus the epicenter of the outbreak is lumbered the authorities there have put several towns under quarantine affecting some 50000. 00 people stocks in milan and in front for chits 3 percent and the latest coronavirus p s. A some Silver Lining on the business horizon comes from germany 0 institute the latest Business Climate index for february came in at 96 point one percent thats better than expected and for more im joined now by professor t. Mo of almost was a senior economist at the center for macro economics and service good to have you with us please tell me how is this better than expected business and cement fit in with the current coronavirus. Yeah thats true it was a bit of surprise this morning when we
City this morning. For our audience worldwide, this is bloomberg surveillance. Equity futures on the s p 500 up. 2 . Date two for chairman powell and in washington, d. C. It is the state of the Union Address. We will catch up with amh in washington. It was a win for wall street but not the kind of win we were thinking about. This was not Monetary Policy, this was about Financial Regulations. Lisa there are lobbyists in washington, d. C. Getting massive bonuses. We saw that 19 Capital Requirement that the largest banks in the u. S. Were going to have to hold under new proposals basically being rolled back. Jay powell saying we will make a lot of changes to this after a lot of lobbying. Jonathan day one was in front of the House Financial Services committee. Date two was in front of the senate committee. The senator from massachusetts, Elizabeth Warren, i imagine Elizabeth Warren has followup questions about yesterday. Lisa i imagine she will not be particularly happy when people are loo
A least religious exemptions and forced to. Draft its content teaching the next generation over the top to church. Music channels available to people change of ownership and were determined to build something human for the next generation along with the environment series of global three thousand on d w and online. At the. House i was in india hundreds of thousands of people all laid off they say that a victim of a tax overhaul meant to make the economy more efficient also coming up is the German Economy is coming to an end actually what is on expected to drop a made trade face. Can german call make his play count jump in the at electric car race and thinks test on china to pole position. This is your Business Update on how it all free and by then that you could join me being a Small Business is never easy but in india Small Business is there. Having an especially hard time right now on many plane the new goods and services tax launch just over a year ago and to replace more than a doz
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