Specifically ofcom says its concerned about fees for moving data and technical barriers that can make it difficult to switch providers. And this is a big and growing business. The consultancy mckinsey estimates Cloud Computing could be worth 3tn by the end of this decade. Microsoft said it was committed to competition and would engage with the uk inquiry and amazon said it believed ofcoms findings were based On A Fundamental Misconception of the sector and that the problems had been exxagerated. Raoul lumb is a commercial Technology Lawyer with the London Law Firm Simon Muirhead burton and when i spoke to i started by asking him to explain the importance of the cloud to modern life. I mean, you and me are using it now. So here i am. Im talking to you over sort of voice over internet service. All of the data that im recording with my mic, with my mic and my camera, thats going to a data center probably owned by amazon or microsoft to be processed before it gets to you. So anybody who us
On its first day. And Biotech Company holozyme therapeutics surging today 18 now on new partnerships. The ceo of the company will join us exculusively to discuss whether more deals could be in the offing as well. Lets begin, though, with the day in washington. Ylon has more on todays Senate Finance Committee Hearings on tax reform eamon javers has the latest on President Trumps talks with democrats on daca and what exactly they talked about. Ylon, lets start with you, though bill, the chairman of the Senate Finance committee, orrin hatch, made absolutely clear today that the negotiations over tax reform are only just beginning. Part of the big six, gop leadership, as well as members of the Trump Administration who have been working together on a framework for tax reform but hatch said today anything they agree to is just a guideline, not a guarantee. Anyone with any experience with the Senate Finance committee knows were not anyones rubber stamp. For a bill particularly on something as
Are shaping up. And harnessing the power of sd printing in health care. We meet the firm thats revolutionising the way artificial limbs are made making them cheaper and easier for those who need them most. And as you are hearing. Like it or loath it facebook is bigger more profitable and more controversial than ever. What do you think about that . Has it got too much influence . Just use the bbcbizlive. Hello and welcome to Business Live. We start with facebook because despite the ongoing controversy over everything from fake news to extremist and violent content the Social Networkjust keeps getting bigger and more profitable. Facebook has been warning for some time it cant keep growing at this rate but the latest results show no sign of a slowdown. Facebook made profits ofjust over 3 billion in the first three months of this year. Thats a jump of more than 76 on the same period last year and more than investors were expecting. And it is creeping ever closer to two billion users 1. 91;
Time. Cloud cover around sfo will cause delays. 48 to 58, the same temperatures administration yesterday. 58 from 80 to the coast and inland. We will warm faster away from the coast. We will top out 59 to 88 but the 14th spare the air so breeze easy this afternoon. Alexis . Two minor issues, neither causing a backup but, first, eastbound 580, it is on the light are side of traffic. The far right lane is blocked because of a bigrig, westbound is filling in from the Central Valley and northbound 101 bay shore freeway around san antonio, the left lane is blocked because of a stall but no backup and a tow truck is on the way. New information for bart riders. The underground bathrooms that have been closed since 911 could be coming back. The reaction from the station. Bart bathrooms have been off limits for some long most probably did not know they even exist. They do. That could change. They could reopen because for the first time in 15 years, they are considering the idea. Bart closed ten
10 of wells fargo, that is major money were talking about right there. And the fbi hacking into the iphone of one of the San Bernardino phones without apples help. Its the outcome and is it a bigger black eye for apple or the government . Well have both sides of the debate. Who loses the most in the outcome of this whole situation, apple versus the fbi . The Broader Market is getting a nice boost after janet yellen said caution is warranted. Gold rallying under comments dollar went low are and yields went lower. Financials, which of course would typically benefit, they are under pressure today. The worst performing sector in the s p. Lets get to Steve Liesman with details. Youve got to be asking yourself after this speech by janet yellen has the fed quietly retreated from raising rates, what it dubbed rate normalization, will it ever hike again . From gold to fixed income to stocks, laid out a dovish outlook for rates at this much anticipated speech at the Economic Club in new york and