Facebook has announced plans for a new Digital Currency, called libra. David marcus testified for the House Financial Services committee. The committee will come to order. The chair is often recess of the committee at any time. This is entitled based proposed crypto currency an impact on consumers, investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their views on this book plans, is there are serious concerns about the creation of a Digital Currency and digital wallet to expand its reach, like mastercard, paypal, visa, uber reggie lyft rideshare, and specify. Is trying to create a new global fund to rival the us dollar this venture is slated to be based in switzerland, which has a history of creating a have
And school just ended, but amazon wants parents thinking already about backtoschool shopping. How prime day might now start this unofficial season. But first our top story. U. S. Employers sharply stepped up hiring in june, adding 224,000 jobs. While companies faced the uncertainty of trade tensions and inflation remains below the feds goal, the hiring gains in june provide a solid backdrop for consumer spending. Employment within the u. S. Technology sector increased by more than 56,000 jobs during the First Six Months of 2019. This is according to analysis by a Technology Industry association. The Unemployment Rate for i. T. Occupations, 1. 5 , compared to the overall Unemployment Rate of 3. 7 . Joining me now, the ceo of a private investment firm, and bloombergs max chafkins. Nadine, let me start with you. These are very good numbers. 1. 5 unemployment within the tech sector. That is lower than the broader average. Do you assume that hiring remains robust Going Forward . Nadine than
Which he struck a very humble but sort of defensive tone in saying that libra is not intended to be an investment vehicle. Its intended to be a payment vehicle that the crypt okurancy will not be used for monetary policy, and sort of defending this as a way for facebook to provide Economic Opportunity to its users. But of course, he is going to be facing a very hostile environment when he testifies tomorrow, and certainly well see if that same tone is echoed by the treasury secretary when he speaks in just a few minutes. This is most notable because this comes just days after President Trump tweeted specifically about libra as well as cryptocurrencies, that could be construed, Steven Mnuchin is approaching the podium lets go to him right now. Recently, as you know, theres been a great deal of interest about Digital Assets, including cryptocurrency such as bitcoin and libra. There are many regulatory and supervisory questions regarding libra, virtual assets, and virch wal currencies but
Investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their views on this book plans, is there are serious concerns about the creation of a Digital Currency and digital wallet to expand its reach, like mastercard, paypal, visa, uber reggie lyft rideshare, and specify. Is trying to create a new global fund to rival the us dollar this venture is slated to be based in switzerland, which has a history of creating a haven for criminals and shady corporations. This plan includes serious privacy training, and monitoring of policy concerns. With 2 billion users, will have immediate access to these products, but also from consumers, festers, and the global economy. In addition, facebook has proposed government guarante
Jap japans exports fell 6. 7 in june, much more than expected. They were looking for a 5. 4 drop tex tend the bigger surprise drop was a 5. 2 drop in importeds versus the 0. 2 decline economists were expected the nikkei was down by 2 . Hang seng off by a half percent. The shanghai down by 1 . In europe, red arrows there as well spain off by 1 . Lesser losses for the other averages check out the treasury market. You will see that the treasury market this morning is showing the tenyear with a yield of 2. 054 United Health just reporting moments ago. Posting Second Quarter profit of 3. 60 per share. That Beat Estimates of 15 cents. Revenue came in ahead of wall street forecasts the Company Raised its fullyear forecast well talk about this more with ana gupte. Netflix shares are falling sharply this morning the Company Reported a drop of 130,000 u. S. Subscribers in the past quarter on the Conference Call Reed Hastings attributed the lower growth in part to its Program Lineup during the qu