Good wednesday morning welcome to squawk alley. Im john for the with caro quintanilla and Julia Borstin well start with apple, a cost cut for Small Developers josh lipton breaks down the news for us. Here is how the new program is going to work its called the App Store Small Business Program it launches on january 1st and it does represent a big change here. Developers earning up to 1 million during the Previous Year will now be eligible for a commission of 15 on paid apps and inapp purchases, and that is half of apples Standard Commission apple says the new program will impact what it says is the vast majority of developers selling Digital Goods and services on the store. Tim cook saying in a statement the app store has been an engine of Economic Growth like none other, creating millions of new jobs and a pathway to entrepreneurship accessible to anyone with a great idea for investors this change is also important remember, the app store is critical for apple it accounts for an estima
Drag draghis press conference begins. Stocks set to open in the green this morning after jobless claims fell by 15,000 ahead of tomorrows big job number. Plus, macys says it will layoff 2,500 workers and close 5 stores in a move that could save the company up to 100 million a year. Shares are up this morning on that news. While macys in the green, its been a rough morning for some of the other retail names, Family Dollar, Bed Bath Beyond expected to open well to the downside after Third Quarter earnings miss. While tmobile is still only the fourth largest carrier in the u. S. , its ceo making a splash at this years consumer electronic show and well tell you what he had to say about tmobiles Fourth Quarter and an incident at a party for at t. A lot for wall street to digest with new labor on the data front setting the stage for tomorrows big job numbers. Jobless claims by 15,000 to a seasonally adjusted 330,000. And the bank of england and the European Central Bank Standing pat on key I
At 2. 664 and europe is back to work and largely mixed. Our road map, the jobs number, payrolls above consensus. The Unemployment Rate dives to the 5. 5 year low. Watch the participation, rate, wages, more americans drop out of the work force in april. Pfizer raising its bid to try to buy astrazeneca. Astrazeneca says a few hours later no thank you. Astrazeneca shares trading below the offer price. Pfizer may need to raise a bit more. Were going to have a lot more. Upbeat morning for internet stocks. Linkedin, open table, expedia beat. A miss for chevron, profit dropping 27 on lower production. J. Crew going budget friendly. Can cheaper sweaters boost sales without diluting the brand . First up, though, lets tackle the jobs number, 288. The Unemployment Rate at 6. 3 , thats the lowest since 2008. People are wondering how this is possible, though, with the labor force decline like we had, jim. 62. 8 is the lowest since december of 2013. Yeah. Look, these are hard to rationalize. The 6.
And carl quiis live at the Performing Arts Center in california, just 1. 3 miles from apple. You know, carl, there is a real historical sort of echo that theyre having this event at the flint center, a place they havent used for Product Launches in quite sometime but some of the most important ones actually were unveiled. Absolutely true, tyler. This is where steve jobs unveiled the mac in 1984. 30 years ago. Its been four years since apple introduced a completely new product category and four years since this is the first new category for tim cook, of course, who succeeded steve jobs as ceo. This is the worlds biggest tech company, guys. Brought us the modern graphic based pc, modern smartphone, the tablet, the music player. So over the next hour, we are going do get some specifics finally after a lot of speculation about a bigger phone, about a watch, about a payments product. About a Health Product and even though the stock traditionally does not act well on launch days, some bulls
One of Montana’s largest health clinics that serves people in poverty has cut back services and laid off workers. The retrenchment mirrors similar cuts around the country as safety-net health