Good wednesday morning welcome to squawk alley. Im john for the with caro quintanilla and Julia Borstin well start with apple, a cost cut for Small Developers josh lipton breaks down the news for us. Here is how the new program is going to work its called the App Store Small Business Program it launches on january 1st and it does represent a big change here. Developers earning up to 1 million during the Previous Year will now be eligible for a commission of 15 on paid apps and inapp purchases, and that is half of apples Standard Commission apple says the new program will impact what it says is the vast majority of developers selling Digital Goods and services on the store. Tim cook saying in a statement the app store has been an engine of Economic Growth like none other, creating millions of new jobs and a pathway to entrepreneurship accessible to anyone with a great idea for investors this change is also important remember, the app store is critical for apple it accounts for an estima
To the upside. Other news coming through about approvals for future houses as well. The asx up 119 points. Thats move along and look at other Asset Classes. Crude trading yesterday with a 33 handle, hasnt had a huge rally since then. Part of that is down to russia and opec looking like they will not be hiking reduction in january. That news helping to propel oil prices up to over 97 in the last six hours or so. ,old remaining where it was just shy of the 1900 level. Thats ahead of the u. S. Election. The u. S. Dollar index marginally down, the Rate Decision coming expecting a 0. 15 cut in the base rate and we do have in anticipation of all that move slightly higher than that, and thats down to a commodity related currency and the crude price helping that along. Lets head over to new york and join karina mitchell. We start with the latest headlines on the pandemic. Starling fell to its weakest in the month, with an economy already reeling from similar measures earlier this year. France
Ask yourselves now that nearly all the big tech outfits reported and a day the market rebounded from its lows. S p jumping 1. 19 and the nasdaq surging 1. 69 . All right. It didnt make back everything it lost, but like i said, nobody ever made any money panicking. If you panicked yesterday, always a better time there is a whole network of smart, rigorous Money Managers who believe apple, amazon have become ridiculously expectative. Downright danger to zone they dont welcome the possibility that these could be worth trillions of dollars im not kidding, every day same goes for their compadres netflix and microsoft. There are tons of stocks in this market way too expensive by any traditional valuation metrics. However, that does not include facebook, apple, amazon, maybe alphabet say nothing of microsoft only netflix is one that i think is a bit of an outlier this is 2020, not 2000 that being the dotcom boom with the exception of amazon and netflix, all of these big tech stocks are valued
And in the german capital scuffles as police face off with left wing radicals who are resisting authorities attempts this morning to victim iconic squatters protest. One of the morning of money for russia this october the 9th from kevin owen here at the r. T. World news center with the latest for you for the next hour this morning thanks cheatin hope you can stick around to the 1st serious news the ongoing trouble in the go on a car about civilian casualties are mounting there as the conflict between as opposed and armenia over the disputed territory is still running hot with reports of victims and Property Damage on both sides and nothing is sacred in a time of war shelling devastated a historic cathedral in the region the church also instantly came under fire during the 1st. For over 30 years ago this time though 3 russian journalists got injured in the fray is one of the serious condition its one of the perils of reporting from a conflict zone of course weve got video to show you of
Broadcasting live direct from our studios in moscow this is r. T. International. Certainly good to have you with us now we start with the deadly standoff between armenia and azerbaijan on europes southern border with asia hospital has been hit by a large explosion in the disputed province of a buck and there are unconfirmed reports of casualties earlier in the regions main city was bombed from the air and locals have been hearing the regular sound of air raid sirens. Several buildings were damaged including the Emergency Ministry where the windows were shattered and holes blown through the walls the Armenian Defense ministry has blamed azerbaijan for the airstrikes and put its army units on full combat alert as i bet john has not confirmed or denied the bombing raids or to reports now from god is known. To panic and has come under probably the heaviest shelling since we arrived here 2 massive explosions in the very center of the city usually what we could hear what we could see the smo