Without objection the chair is authorized today declare a recess of the committee at any time. This hearing is entitled an examination of facebook and its impact on the Financial Services and housing sectors. I now recognize myself for five minutes to give an Opening Statement. Today, were here to examine the impact of facebook on the Financial Services and housing sectors. Our sole witness is facebooks chairman and ceo, Mark Zuckerberg. Facebooks plans to create a Digital Currency, libra, and a digital wallet raise many concerns relating to privacy, trading risk, discrimination, opportunities for diverse owned financial firms, National Security, Monetary Policy, and the stability of the Global Financial system. I and other democrats have called for a moratorium on facebooks development of this Digital Currency, libra, and digital wallet until congress can examine the issues associated with a Big Tech Company developing these Digital Products and take action. As i have examined faceboo
Whose made the logistics behind that possible. Id like to thank the witnesses from the Different Companies well seed to for their evidence too. Just one small piece of House Keeping from the start. For people who are unfamiliar with the work of how fast commons select committees maybe more familiar with the work of congressional committees, its understood that anyone taking part in the proceeding of particle lent like this answers questions honestly and truthfully to the committee and its an offense to mislead parliament. Im nol not saying our witnesses would do that but we dont require them to swear an oath because under our rules its implied that theyre telling the truth. Well also we have a number of sessions to get through today and im conscious that we need to do that in good time gand order. Id like to ask the members of the committee to be clear in directing their questions to either individual members of the panel, be clear what theyre asking for as well. And just to say to the
Media, all that coming up after the close tonight. Plus in case you missed it, former chair fed addressing. We have the sound for you coming up. Yes, well get responses to that as well. Oracle shares are down 11 this year so far. Jeffreys is upgrading that stock to buy with a 50 price target. You see the trading at 39 and three quarters. You have the analyst on oracle coming up moments from now. On markets today, the dow up four points. The s p higher. The nasdaq doing better up 20 points. Even though facebook is still low were after the earnings support. A lot of people liked what they saw on the numbers. By the way, apple is down today too. Lets get to our closing bell. For this thursday, ben willis, kind of a muted day today after tremendous volatile earlier this week. Whats going on today . Actually a very interesting trading day. Once again, we saw the ability to buy on the dip where the education from the Economic Data we saw took the dow jones and the s p to the loads of opening
Field tonight. A treasure trove for lawyers and hint, hes mad as hell and hes not going to take it anymore. Varney company is about to begin. Lets get to it. The markets, that is. Were going to be down at the opening bell, 70 or 80 points, were all over the selloff, how bad is it going to be and we will be asking that question for three hours. The price of oil bouncing no, not bouncing down, back at 40. 87 per barrel, again, were looking to see if it drops below 40. Were showing 39 on the screen at some point today. Well see. Gas, good news, the pace of the decline in prices is picking up steam, down about two cents overnight. And big names, we talk about it every day and boy did they get beaten up yesterday. Do you buy now . Here is the closing prices from yesterday. Netflix, 112. Apple, 112. Facebook 90, amazon down to 515. Jo john, taking a vacation from his mansion in bermuda. Are you going to reassure our viewers that maybe this is the time to buy a few bargains . Not necessarily
This region and to its people. Out ofjail rolf harris appears in court on trial for historical Indecent Assault. And the sun smiles on chelsea as we get a Sneak Preview of the worlds most famous flower show. And coming up on the sport on bbc news. Not for sale. Arsenals Majority Shareholder says hes committed to the club after rejecting a £1 billion takeover. Good afternoon and welcome to the bbc news at one. The conservatives have performed a rapid climbdown over their central manifesto pledge on social care. Theresa may, in a Campaign Speech in wrexham, said their plans now include a consultation on a cap, or in her words an absolute limit, on the money people will need to pay. Its unclear what that cap will be. The original commitment said that elderly people needing care at home, as well as those in residential care, would have to meet their costs, which could be deducted from their estate after their death, with £100,000 protected for people to hand on to their families. Heres o