Plus you will hear from the social Networks Global chief diversity officer. She tells us how facebook plans to double the number of female employees globally over the next five years, and why the company is setting such an ambitious target in the middle of a media firestorm. But first to our top story. Facebooks plans to create its own cryptocurrency, libra, is not getting love from lawmakers. And you can add fed chair Jerome Powell to the list. Take a listen to what he told the House Financial Services committee on wednesday. While the project sponsors Public Benefits including improved Financial Access for consumers, libra raises many serious concerns regarding privacy, money laundering, Consumer Protection and financial stability. These are concerns that should be thoroughly and publicly addressed before proceeding. Facebook has a couple billion plus users so you have for the first time the possibility of a very broad adoption. If there were problems there associated with money laun
Employees globally over the next five years, and why the company is setting such an ambitious target in the middle of a media firestorm. But first to our top story. Facebooks plans to create its own cryptocurrency, libra, is not getting love from lawmakers. And you can add fed chair Jerome Powell to the list. Take a listen to what he told the House Financial Services committee on wednesday. While the project sponsors Public Benefits including improved Financial Access for consumers, libra raises many serious concerns regarding privacy, money laundering, Consumer Protection and financial stability. These are concerns that should be thoroughly and publicly addressed before proceeding. Facebook has a couple billion plus users so you have for the first time the possibility of a very broad adoption. If there were problems there associated with money laundering, terrorist financing, any of the things that we are all focused on, including the company, they would rise to systemically important
Company reported its lowest Revenue Growth in two years. The Company Unveils its first all electric escalade iq. Amazon is in talks to be an anchor investor in arms ipo in a deal that could raise 10 billion for the chip company. First, a check on the markets. Tech is lower. The nasdaq 100 is down more than a percentage point. The Philadelphia Semiconductor index was softer by one point 6 , underperforming the market. We are waiting for the cpi print on thursday. We get that data and we think to ourselves, what will the Federal Reserve do next . There is posturing in the market from that point of view, but earnings will be a theme of the show. Weve had a number of earnings interviews with ceos and the reaction to the downside is also a factor, particularly for the nasdaq 100. The 10year yield goes back down to 4 . The steady trickle down from 4. 2 to 4 . Bitcoin is still at the same 29,005 hundred u. S. Dollars for token level. These are the key name starting to show. Lyft is going to b
Today on kron, 4 news at noon, Police Arrest a suspected serial kidnapper with ties to the bay area. How one of his alleged victims escaped from his grasp. Plus, parents gearing up for backtoSchool Season. Were live from a special supply distribution event benefiting 2500 south bay kids. But first, firefighting efforts continue in the south bay where a blaze continues threaten homes in east san jose. Well, latest progress on containing the clayton fire. From the bay station. Youre watching kron. Noon. Thanks so much for joining us here on 4 news at noon. Im stephanie lin. Developing news. Crews continue to make progress containing the clayton fire burning in east san jose. But that 66 acre blaze continues to threaten multiple homes. Kron fours Michael Thomas brings us the latest update from fire officials. Officials tell me as of today it is at 60 containment for this fire. But take a look at these crews have been here since yesterday and the scene is still very active around 8 oclock
Were usually at for this time of year and definitely foggy this morning. Get a look outside at San Francisco might be the foggiest. Ive seen this view all week. So far. You can see much of anything youre going to get the windshield wipers a time or 2 on a timer to specially closer to the coast in the bay. So prepare for that a little bit. May see a few wet spots. Temperatures currently in the 50s to 60s here. Not noticing much difference just yet. Its still foggy. Its still cool. But this afternoon we get that warm up and you can see in day planner that were going to get warmer inland, especially upper 80s, even a couple of low 90s. Ive got your full breakdown. Still to come rain. All right, john, thank you for that little crack in an accident. Southbound 8. 80. Right at 5th avenue year. If youre traveling to oakland. So again, drive times going up about 22 minutes traveling from opened down 2 to 38. So you could take 5. 80. You could take international to navigate around that delay. W