The chairs authorized to come to claire recess without any time we welcome everyone to the second of our series of investigating competition and digital markets, this one on innovation and entrepreneurship. I recognize myself for an opening statement. 30 years ago was released into the Public Domain to create a Global Communications Network Within a few Years Services were built onto the software to give people tools to communicate, share through a decentralized platform designed to be open and nondiscriminatory. The pioneer testified in 2006 on behalf of google that the overarching principle of the open internet was that no central gatekeeper should exert control over the internet. This open and competitive environment means that entrepreneurs for new ideas need not worry about getting permission for inventions to reach endusers. Over following decades the growth of our competitive internet revolutionized our lives, our work, businesses, and entire world. Millions of good paying jobs
Good afternoon. The subcommittee will come to order. Without objection the chair is authorized to declare recesses of the committee at any time. We welcome everyone to the second of our series of hearings investigating competition in the Digital Markets. This one on innovation and entrepreneurship. I now recognize myself for an opening statement. 30 years ago the First Software for the worldwide member was released into the Public Domain to create a Global Communications network. Within a few years, search and browsing services were built onto this software to give people tools to communicate, share, and explore information through decentralized platform that was designed to be open and nondiscriminatory. An internet pioneer and codesigner of the internets early architecture testified in 2006 on behalf of google that the overarches principle of the open internet was no central gatekeeper should exert control over the internet. As he noted this open and competitive environment meant ent
Now on bbc news, live to singapore for Asia Business report. Pals cutting comments to the fed chairman is defined in the face of trumps criticism and strongly hinted ata trumps criticism and strongly hinted at a rate cut this month. The digital divide. The us orders an investigation into frances planned new tax that will hit American Technology giants hard. Good morning asia, hello world. It is thursday thank you forjoining us for another exciting addition of Asia Business report. We start with the Us Federal Reserve and its chairman has brushed off heated attacks by donald trump saying he would not step down if the president asked him to. At the same time, Jerome Powell hinted that a potential rate reduction later this month as the world s most powerful central bank warned that Lawmakers Office continued uncertainty. All fed shares have a difficult balancing act. They need to keep inflation low and everyone at work. They also need to keep markets calm while being able to change their
Theres been an angry reaction in britain to the resignation of the ambassador to the United States, whos quit under intense criticism from president trump. Britains foreign secretary jeremy hunt, said the resignation is a black day for british diplomacy. His rival in the race to become Prime Minister, borisjohnson, has been criticised for failing to back the ambassador, although its emerged he did phone sir kim on wednesday, praising him. The head of the uks Diplomatic Service says hes not seen a situation like it, in 37 years. Sir kim darroch, 42 years a loyal public servant, the boy from the Council Estate who advised Prime Ministers and, until this morning, her majestys ambassador to the United States. He resigned, he said, because his leaked remarks, critical of donald trump, had made it impossible for him to carry out his role. At westminster, there was anger and support in equal measure. Sir kim has given a lifetime of service to the United Kingdom and we owe him an enormous debt
The trade secretary liam fox. The other main stories on bbc news at 5. Deutsche bank starts to make the first of eighteen thousand job cuts including in london as part of a radical reorganisation. A life sentence for a life taken the parents of a child killed by a hit and run driver take their fight for tougher sentences to parliament. British airways faces a record £183m fine for last years breach of its security systems. The airline says its surprised and disappointed and 15 year old coco gauffs wimbledon dream is over, as she loses in straight sets to former world number one simona halep. Its 5pm our top story. Theresa may has insisted she has full faith in the British Ambassador in washington, Sir Kim Darroch, after the leak of emails hed written describing the Trump Administration as uniquely dysfunctional and inept. President trump has complained that sir kim has not served the uk well but mrs mays spokesman said the uks strong relationship with the white house would continue. A