Social Media Companies ylan mui has more on the story reporter the dojs proposal strikes at the heart of the Business Model for platforms like facebook, google and twitter, section 230 of the communications ccc act the first is what theyre calling the bad samaritan bill, for platforms that facilitate or solicit illegal activity, and the second specific exemptions for child exploitation, and actual knowledge of elicit activity the doj cannot do this alone they would need congress to act to change the law. Big tech doesnt have a lot of friends on capitol hill these days just today, republican senator josh hawley unveiled a bill that would remove text Liability Protections unless the Companies Promise to act in good faith or pay a 5,000 fine to users if they dont meanwhile, democratic senator mark warner said that he believes section 230 has allowed companies to turn a blind eye to a host of ills, but melissa, he also said hes worried that the doj is using these tools as a way to get Big
Announced, but the big story is surrounding big tech earnings like microsoft, facebook, and even comcast and qualcomm. It look like some of these companies were basically created for this moment if you didnt know, the microsoft quarter was just a thing of beauty a lot of that is because theyll have a product like teams or like azure that are incredibly strong linkedin doing very well facebook quarter was good, and boom, they say april is stabilization. One of the themes were seeing in tech, or you have service now, well have Bill Mcdermott later today. They have an unbelievable quarter. Maybe the best in the history of the company. So youre seeing companies that frankly not only do not have to make any excuses but are saying good things. You know, qualcomm, ill say, secular trend, 5g, and then highspeed internet is one of the most lucrative parts of comcast. Yes, of course, theme parks not going to happen, but theyll open up again. But high speed, it will never go back you dont switch
The yield curve inverts again, the fifth time in the last week but stocks are shrugging it off. Weaker than expected manufacturing data and this season of retail volatility continues sharp moves in the stocks with more earnings movers coming in the next hour. Watching signals of the Federal Reserve. Philadelphia fed president harker throwing some cold water on any imminent rate cuts. In december i was not supportive of the increase i was supportive of the decrease somewhat reluctantly this time around to get us back to where policy should be were roughly where neutral is i think we are roughly where neutral is right now and i think we should stay here for a while and see how things play out. Well get another view from the Federal Reserve in the next few minutes here on closing bell. Coming up, an interview with dallas fed president Robert Kaplan with steve live from jackson hole joining us for the entire final hour, is mark leeman mark, it does feel like theres a little more optimism o
Offenders, first time thieves, first time shoplifters should not be prosecuted , but should not be prosecuted, but should merely get a caution. Ill ask the question tonight does this open the door to mass offending on a scale weve never seen before. 7 before all of that, before . Before all of that, lets get the news with polly middlehurst. Middlehurst. Nigel, thank you. Good evening. Our top story from gb news tonight is that labour supporting unions have been accused of attempting to block the use of the bibby stockholm home to house asylum seekers. A home to house asylum seekers. A government source has described that as a betrayal of the country and of the british people. Its after the Fire Brigades Union labelled the accommodation barge as a potential death trap and requested an urgent meeting with the home secretary about overcrowding and fire exit concerns. It could now be next week before any migrants are moved to the vessel, which is currently moored off portland in dorset , a
Week before any migrants are moved to the vessel, which is currently moored off portland in dorset , a currently moored off portland in dorset, a mans been found guilty today of murdering his ten month old stepson, jacob crouch was found dead in his cot at his derbyshire home in 2020. He had suffered rib fractures and was bruised with internal injuries as well. Craig crouch has been convicted of murder and three counts of Child Cruelty. The babys mother, gemma barton, was also found guilty of Child Cruelty and causing allow or allowing his death. Detective inspector paul bullock said he hopes the verdict will bring closure for jacobs wider family. Its clear from the evidence found on gemma barton and craig crouchs phones through text messages, videos and audio recordings that they were equally responsible for the culture of cruelty that was inflicted on baby jacob. As a father , i cannot as a father, i cannot comprehend what happened behind closed doors and my thoughts remain with jaco