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The tech giants in the us are dominating the business agenda today. Jeff bezos is stepping down as amazons Chief Executive. The Online Retail giants founder will move to become the compa ny s executive chairman. He will be replaced as ceo by andy jassy, the current boss of amazons Cloud Computing business. And this comes as the firm reported 386 billion in sales in 2020, thats up 38 on the year before. Their profits almost doubled, rising to 21. 3 billion. So whats been the reaction to the news bezos is stepping to the side, and what do we know about the new boss . Duncan howe is e commerce strategist at cheil uk, which is a Digital Marketing and advertising agency. Duncan, welcome to the programme. Executive chair man still means he will have a lot of control a ....
If we get a currency pact, maybe we see a weaker dollar. Time now for global exchange. We bring you todays market moving news from all around the world. From hong kong to london to washington, this mornings top stories. We start off with china. After decades of waiting, china is setting out a timetable to remove its Foreign Ownership cap on financial firms. On the phone from hong kong is bloombergs enda curran. What does this actually mean . To wind is a roadmap they can fully take over their operation in china. Theyve been pushing for this for years. It will begin next year. Its just the latest step on chinas part to attract more foreign capital into its Financial Markets, to buy more stocks and bonds, and that is a good thing for their companies. The timing is hardly coming to dental, coming in the background is hardly coincidental, coming in the background of trade ta ....
The u. S. And china agreeing to meet next month. Stocks, as you saw, reacting positively to that were going to talk abdomen goldman shrinking the partner ranks. Interesting story. Up to a dozen executives reportedly negotiating the exit. Is it a sign of a broader shift for this wall street bank . And shares of palo alto, they are up, as you can see the ceo joins us exclusively in a few minutes. Theyre up ahead of the bell, of course, this morning lets start with the markets this morning a chance for jim and i to get back on the same page as to where things stand we also got fairly positive adp numbers. 195,000 private sector jobs added in august. That was above the estimate. The consumer continues to be quite strong in this economy i heard you talking to joe about, you know, were the only ones that talk recession and we got a ten year above 1. 5 again. I thought when i saw its like the bonds also rise i think what weve seen is this endless yield going down versus, say, where the one ye ....
Facebook has announced plans for a new Digital Currency, called libra. David marcus testified for the House Financial Services committee. The committee will come to order. The chair is often recess of the committee at any time. This is entitled based proposed crypto currency an impact on consumers, investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their ....
Investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their views on this book plans, is there are serious concerns about the creation of a Digital Currency and digital wallet to expand its reach, like mastercard, paypal, visa, uber reggie lyft rideshare, and specify. Is trying to create a new global fund to rival the us dollar this venture is slated to be based in switzerland, which has a history of creating a haven for c ....