Check on markets. Some positivity still feeding through the back of that china data that came in better than expected in terms of the retail sales. S p futures on the front foot, up. 2 . Four days of gains. Closer to above 3000. How much farther does the rally have to go. We look ahead to earnings. The 10year yield is backed up a. 2 curve. Lets get the bloomberg first word news. President donald trump has been accused of racism this after suggesting four female lawmakers to back to their crime invested crime infested places they came from. Of the four women were born in the u. S. And are racial or ethnic my own minorities. The purchase of a Russian Missile defense system. The u. S. Says deploying the missiles jeopardized a fighter jet. The white house as picked a package of sanctions for turkey with an announcement coming soon. Dozens arrested as protests continue in hong kong. This includes clashes with the police in a shopping mall. Emmis traders were demanding demonstrators were dem
And background on all our top stories on the bbc news website. Log on to bbc. Com news or download the bbc news app. Now live to singapore for Asia Business report. Facebook underfire. Facebook under fire. Us facebook underfire. Us politicians label the social network delusional and not deserving ofjust over its cryptocurrency initiative. Resignation from the imf, her decision to become the head of the European Central bank. Good morning, asia, hello world. Its a wednesday. That you could join us foran its a wednesday. That you could join us for an exciting addition of Asia Business report. I am rico his own. Lets start off with facebook, the social media giants plans for cryptocurrency has come under further attack by us politicians. The latest comments follow criticism by president trump, the treasury secretary Steven Mnuchin, and jerome powell. Appearing in front of the Senate Banking committee, facebook executive david marcus defended this project. I believe that if america doesnt
To replace sovereign currencies senators were skeptical to say the least take a look consume david marcus head of facebooks lever a subsidiary for a face to panel of senators who werent prepared to pull their punches or facebook is dangerous. After all the Times Facebook is abuse the Publics Trust and you know that you really think people should trust facebook with their hard earned money trust this primordial and weve made mistakes in the past and we have been working in our continuing to work really hard to get better and Central Banks worldwide have raised concerns that libor could become a rival to sovereign currencies david marcus out and out tonight that was facebook saying and promised the Senate Banking committee that the crypto currency would not be in anyones digital wallet until Global Regulators were satisfied. We will take the time to get this right we expect the review of libra to be among the most extensive ever we are fully committed to working with regulators here and
And. I want to get germs were counted we have business can we trust facebook when it comes to money ever since the social network announced plans to introduce a new Digital Currency financial leaders around the world have sounded the alarm so what is it all about whats now like a bit coy and libra would enable computer payments via blocked change technology to make libra less volatile than Bitcoin Facebook plans to back it with a basket of real world currency is like the u. S. Dollar the euro and the japanese yen what also sets libor apart from bitcoin and the likes is that it would be backed by Big Companies including visa master card and pay pal Facebook Says that more than a dozen partners will help built fund and govern the libra system the facebook cops to raise as much as 1000000000. 00 us dollars from exist. Sting and future partners to support the effort and libra is set to launch in 2020 but 1st facebook has to convince regulators on both sides of the atlantic and im going to
The hunt for whales japan has resumed commercial whaling in its waters despite global outbreak but is the practice commercially sustainable and force of the Cultural Roots of boiling in japan and is culture a justification this is inside story. Hello and welcome to the program im peter dolby whales were hunted to the brink of extinction until 1986 when a group of countries agreed to temporarily stop whaling for profits which turned into a Semi International ban however conservationists are now worried the species might be facing a similar threat many countries continue to hunt whales for what they say are scientific purposes and japan which is one of the leading commercial whaling countries is now resumed that practice in its waters it says whaling is part of its culture and can be done in a Sustainable Way but as Mariana Honda explains japanese pallets and tastes of moved on. That block there have been some names picked forward and accepted press from the top jobs for the m. E. U. The