Amazon, the latest in the eu cross hairs, facing a probe over possible anticompetitive Business Practices. Plus, ralph lauren and le le strauss in the red, both downgraded to sell at Goldman Sachs. And a tariff fueled strategy shift. Apple reportedly set to begin trial production of air pods outside of china and into vietnam. Another case of big tech under International Scrutiny amazon facing a formal eu antitrust investigation into its dealings with third party merchants. European competition commissioner margaret says based on the commissions preliminary fact finding, amazon appears to use competitively Sensitive Information about marketplace sellers, products and transactions on the marketplace and response amazon issued a statement saying, quote, we will cooperate fully with the European Commission and continue working hard to support businesses of all size and help them grow. This is the last thing some of these companies i would point out that they just brought an agreement with
At the News Conference today steve. Thanks very much, melissa the Federal Reserve left Interest Rates unchanged at the june meeting but made a major change in the outlook, suggesting maybe a cut ahead, maybe in the next months meeting in july. Effectively ended the policy of patience as it was born, actually signalled where it wouldnt do anything for several months, instead it is now emphasizing uncertainties in the Economic Outlook and, quote, it would act as appropriate in economic expansion. Remember back in march no federal official forecast a rate cut in 2019. Now eight are on board with rate cuts, at least one this year, and seven of those forecast two cuts, and the fed chair saying even though they arent forecasting cuts, well, theyre leaning that way. The number of those that wrote down a flat race pass agree that the case for additional accommodation has strengthened since our may meeting. Uncertainty surrounding the baseline outlook have clearly risen since our last meeting i
Least portions of the area. And we have severe storms that are rolling through and they start north and west, but all of our neighborhoods will see at least some of these storms pass by through the night. 5 00 through midnight when this line will drive by the area bringing damaging winds and flash flooding potential as well as small hail to the area. So we are under two threats really at once for today. On radar and satellite, we did have thunderstorms roll by. You can see for the most part those have started to weaken and have also started to move off from west to east. We take a closer look and what we see are from right around Atlantic City down to ocean city, still spot storms moving through. Reds and yellows are the stonkestonk e strongest pockets. And then well have the sun and the heating and then that comes for the lift to storms to develop. So were at 81 right now in philadelphia and so wont be along before were talking 90s again. Well look more closely at those storms coming
He is planning to visit the cia on saturday the day after he is sworn in as president. Global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. Im haidi lun in sydney. Up next is Bloomberg Technology. Caroline im caroline hyde. This is Bloomberg Technology. , thelue out with earnings stock dropped over 19 quarters. We will break down the earnings scorecard. Plus we will hear from a Silicon Valley veteran. Ceo joinsard member us with his outlook on the industry as donald trump takes office. Alibaba goes for gold. How it scored the biggest sponsorship deal in olympic history. But first, to hourly. Shares of ibm lower on the back of the companys fourthquarter earnings. The bloomberg terminal is showing how the trading afterhours is off by more than two percentage points. The Company Announced corley earnings that beat analyst estimates and the fullyear outlook for 2017 was better than forecast. Things like computer hardware and Software S