We start with amazon, because the Online Retail giant has revealed another set of mind boggling sales figures. Ceo jeff bezos says efforts to make one day delivery the norm for prime customers are paying off with accelerating sales growth. Shares have fallen though as investors were disappointed with how little profit amazon is making on all that business. Lets show you the details. Amazon made revenues of 63. 4 billion in the three months to the end ofjune. That was up 20 on the same period last year. But only around 2. 6 billion of that was profit less than investors were hoping. And its forecasting profit could be lower in the current quarter. Amazon has been spending heavily 800 million in the past three months alone to try and offer one day delivery on more products. Ceo jeff bezos says its now available on 10 million items and that is boosting sales. But amazon is facing growing pressure over its sheer size and power. Its facing antitrust investigations in the us along with the o
Else is worrying about the flip side of this is true, there is no point in getting excited about something and everybody else is eagerly anticipatin anticipating why . Because when the vast majority of investors agree something will happen, that thing tends to be already priced into the stock market while the real economy moves at its own pace, you got to borrow money to build that equipment and use that equipment to manufacture goods and wait for the customer to come along and buy them the stock market has no such limitations. Stocks dont travel at the speed of light, well, how about the speed of thought they come pretty close so the moment a preponderance of hedge fund mangers decide the economy is slowing or speeding up or flat lining stocks start trading like thats the case instantaneously, usually takes time to build that consensus, which is why you rarely see these moves happening at once but once the big institutional portfolio mangers are on the same page about something, you c
Calls for comment on the India Pakistan border after new delhi revokes the special status for the disputed region. And puerto rico a senate calls awful voted to confirm the new governor as legal questions are raised or the his eligibility. Has been a new escalation and the u. S. China trade or washington is accusing beijing of manipulating its currency after it lower the value of the you are a stocks have dropped nearly 3 percent on wall street beijing says it will stop Chinese Companies from buying u. S. Farm products lets go to our correspondent alan fischer he is joining us live from the u. S. Capital and eventful day in the trade war allan ending with donald trump doing something hes been threatening for a long time. Exactly he said on the campaign trail the very 1st thing he would do on his far stay in office in the white house was the clear china come see manipulator well he tweeted a few hours ago that thats exactly what they were doing a lot in there come see to drop against th
Instead of big tech we should be thinking about small tech how do we fund say acknowledges that are just tools for people not surveillance devices we need to start having these conversations and not just in reaction to the latest leak or the latest app that has a privacy issue that you know blows up on twitter we Start Talking about this is a systemic issue. Judge in new york has decided to finance here Jeffrey Epstein must stay in jail while awaiting trial the 66 year old is charged with sex trafficking dobsons of underage girls the judge said epstein who is who was once close to to donald trump is a flight risk now to his ownership of a jet and 2 private islands. Argentina has designated hezbollah as a terrorist organization and blames a Lebanese Movement for 2 attacks on its soil and the announcement coincided with a visit by the u. S. Secretary of state like. Well as ours is marking the 25th anniversary of the bombing of the Jewish Center that killed 85 people there as a bow has th
The coast and parts of the bay this morning but we are going to be clearing out. The fog burning off heading to the day with sunshine. Temperatures running in the mid to upper 50s and to about 60 degrees and here we go with our highs. 91 in concord. 93 in fairfield. 90 livermore. 83 and san jose. 72 and oakland forgiven 60s and 70s go and 63 in pacifica. Enjoy the sunshine today and i will let you know how long this will last in the full forecast, coming up. It feels like i friday on the roadways. You main travel times are good to go. They are all in the green which is great news for those hitting the roads at 5 01. Take a look. Only about a 29 minute ride through the Altamont Pass. Then cleared the obstruction in the westbound direction of 580. You are smooth sailing all the way over to the dublin interchange. 50 minutes the sort freeway. Get there and out of the south bay on 101, a 35 minute ride despite the accident on the peninsula. The bay bridge metering lights not yet on. The ca