1 . 2. 1 . Ericsson right now is down more than 10 . It as well giving a sober picture of asia, saying that it may be a little bit too optimistic on profitability 2020. S for back to the main story in the United States, bank of america with record secondquarter earnings on the Interest Income despite a beat on trading revenues. Bank of america following peers lower. Here with more is the gentleman owner and finance reporter. Stocks are up, clearly not disappointing too much, but a net interest margin. The stock is up i think because the trading results are good. Fixed income trading revenue is unchanged from a quarter of the year ago and that is surprising because all of the other banks that have reported, the big banks including goldman, they had sizable declines in fixed income trading. Bank of america held on to its revenue and thats a good sign. Equities is down but sort of almost everybodys was down. So that matters just as much for these big banks in the u. S. Is what happens on
The hearing will come to order. Last congress this Committee Held two hearings examining the currency ecosystem. Those hearings we heard about some of the developments that have occurred and tha and and tr ijokerin the marketplace since e creation in 2008. The potential benefits of the Digital Currencies and the concerns about the value of stability, quality and illicit uses market manipulation and privacy. Since then facebook announced its intentions to launch the system into Digital Currency that will be governed by the association comprised of up to 100 financial and nonfinancial members including facebook digital wallet service. Facebook project generated renewed interest in Digital Currency and watching generally including how they interact with u. S. And International Regulatory potential benefits and challenges and concerns around issues like antiMoney Laundering in counterterrorism efforts including data privacy, Consumer Protections, commerce and Monetary Policy. David marcus
They need to bet on new shows like Stranger Things. Elon musk announces his latest startup narrow link, successfully implanting wires into his brain and enabling a monkey to control the computer. The next goal is human trials. We begin with the hearings on capitol hill. All appearing in washington to answer lawmaker questions on antitrust, social media, and cryptocurrency. The first was facebook as the Banking Committee fired searing questions at the cocreator of the cryptocurrency project. We will take the time to get this right. Wanted it be easier and safer if people could securely receive money transfers just like they do for so many other things . The chief was grilled on tuesday. We caught up with the senator after the hearing. Technologyblockchain , even the possibly of cryptocurrencies, it has some positive upside, but i think we have to be careful. Particularly when we are talking but the possibility that facebook might dominate this otherwise very disruptive technology. Faceb
Irans foreign minister speaks about the future of its nuclear deal. United states has shot itself in the foot. Conversations from the g7. You now need countries that have the fiscal space to stimulate their economies. Abigail its all straight ahead on bloomberg best. Abigail hello and welcome. Best, youromberg weekly review of the most important Business News, analysis, and interviews from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. On monday come investors digested a slow Economic Data that came out over the weekend from china. Chinas economy continues to slow with sluggish domestic output and trade tensions since theoss down early 1990s. Dp grew six. 2 , how bad is it . Its slowing on a quarterly basis and the takeaway is the activity numbers for june that picked up in retail sales will stop also fixed Asset Investments all headed in the right direction, all eating estimates and of you look at a pickup in, cosmetics sales on a turnar
Entire libre system. I understand you will be distributing runtime executable and things like that so that all of that has to be bulletproof for cybersecurity. I was wondering how you would deal with the governance of that . Mr. Marcus two ways. We agree with you that this is of absolute importance. The way we are dealing with that is the language you are referencing will have formal verification in place to avoid issues. To the extent there are no compiler problems. Mr. Marcus the compiler will not execute the code is the code is not formally verified, and we have a chance of having david dill, who is a professor from stanford in formal verification helping us with this issue. The other thing i want to say is the association will not have guidelines on what thirdparty code will be published or not. At the very early stages, it will be very limited to a set of templates that will avoid the issues you are raising. It will be an ongoing target because if the libra is taken to scale, it w