Facebooks hugely ambitious plan to create its own Global Crypto currency has been under growing scrutiny since it was unveiled last month, and in a few hours time, the man in charge of the project will face a grilling from us lawmakers about what the company says is the future of money. Facebook says it wont go ahead with the launch of its libra crypto currency until regulatory concerns are addressed. The Digital Currency is particularly aimed at the estimated 1. 7 billion adults that the world bank claims dont have a bank account. China and india are top of the list. In a bid to convince people that it will be reliable, Facebook Says the currency will be backed by a reserve of assets, and has set up what it says is an independent body to oversee the currency, the libra association. Its 29 members include household names such as uber, visa and vodafone. But Central Banks have already expressed concern. Last week the boss of americas federal reserve, Jerome Powell, said libra raises man
Lets get a check in on the markets. European equities are pretty flat. The stoxx 600 struggling for direction. You heard and the headlines, three key things we heard. The dovish message from Jerome Powell reiterated and we got better than expected data in terms of retail sales and factory output, pushing the 10 year yield up. It also pushed the dollar higher and we hold on to those gains. The question as whether President Trump can have the weaker dollar at the same time as a strong economy. And can he have gains in stocks as the same time as a trade war continues . As you made those comments, the s p 500 took a hit, dropping for the first time in six sessions. Coming up, we speak to the oecd secretarygeneral. Dont miss that interview live. Lets get bloomberg first workers. Word news. The u. S. House voted to condemn comments from donald trump that are racist. Week, he tweeted for congresswoman should quote go back to where they came from. Trump says he is not racist and does not have
Heading to court ultra wealthy financier Jeffrey Epstein set to go before a judge today to face new charges of sex trafficking minor girls. The raid on his new york mansion and the covert operation to arrest him. Breaking new developments in the terrifying road rage incident caught on camera. A driver opening fire on a family truck with children and fireworks inside. The suspect turning himself in overnight. The search for answers after the shocking death of a young disney star who passed away in his sleep. New details and tributes this morning. And celebrating baby archie. A Family Affair for the young royals christening. Everybody was there and the special honor for Princess Diana. Good morning, america. Hope you had a good weekend. Good to have both of you back. How much fun was it watching celeatr the big win. Ght there. Ei orall the the home. Eir hotel france thiing or otheiway a late night of celebrating, george. The team were out in full force at the afterparty calling it party
But the schools right down the street. If we run out the door right now, we can catch it case open . Closed. Okay, well wow. Since were not doing any police work, i just wanted to mention its teds Retirement Party tonight, and somebody ate all the buffalo wings out of the fridge. Case closed. Announcer its the late show with Stephen Colbert. Tonight, checks and unbalanced. Plus, stephen welcomes Bryan Cranston. Rupaul charles. And musical guest bonnie raitt. Featuring jon batiste and stay human. And now, live on tape from the ed sullivan theater in new york city, its Stephen Colbert cheers and applause stephen hello i love it. I love it. Thanks, everybody. Please, have a seat, up here, down there. Thank you, one and all. What a lovely, lovely greeting. Welcome to the late show. Im your host, Stephen Colbert. You know, folks, i love new york, because it is not washington, d. C. Its bad down there. Its bad, its like the battle of winterfell down there. This morning, donald trump asserted
Globe. At the helm, a chief executive who came into the store seven years ago with no fashion experience but a determination to return the brand to luxury, attracting younger, high value customers. When i started the job, i often got the question, is ralph lauren still relevant . We had to some extent lost that to the younger generation. Francine today, i speak to the ceo of ralph lauren about the Company Founder and his plans to take the company back to its roots. Patrice louvet, thank you so much for joining us on bloomberg. Patrice very happy to be here. Francine do you have the most fun job in the world . Patrice it is pretty fun. Probably the thing that attracted me to this opportunity is the opportunity to work with ralph, right . This man is a visionary, incredible entrepreneur who has had amazing success around the world, and the opportunity to work with him, to partner with him, is really special, and i cherish it every day. Francine and you have to get along. He is such a fig