Good morning it is 8 00 a. M. At tesla headquarters in palo alto, california it its 11 00 a. M. On wall street squawk alley is live good Tuesday Morning im jon fortt with Carl Quintanilla back again it is a busy day on wall street with the dow hitting an all time high making another run at 30 k. That comes as president elect joe biden is reporting tapping former fed chair janet yellen to run the treasury department. Tesla is continuing the record run now topping half a trillion dollars in market cap. Making elon musk the worlds second richest person on paper and apple making another concession, carl on App Store Fees a lot going on yeah. We talked about that early moving being the small crack that starts to widen as for tesla, i mean, whether its some of the reports about a hatch back in europe or longer range vehicles or just enthusiasm over the ev space as we gheet into a Biden Administration on top of the gm news yesterday, jon. So there is a lot happening in the ev space and then m
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
The dpa is finally being utilized. They got entrusted with such an important task. Frankly, it is a joke. Knowing the circumstances around , the options granted, the early leak of the announcement, there is potential here for unlawful insidertrading. I would go beyond that. In terms of potential violations. I think there is potential that the sec could find a range of violations. Regarding individuals involved in manipulation. We do not know. We go back to insidertrading enforcement. There is also a broad range of federal statutes that can apply. In the scope of the investigation, it is real. The questions that were posed by the internal investigation, they are very narrowly framed. Committee, there is still plenty to look at. There is the potential for the commission to find and recommended forstmann actions. Thank you. I appreciate that response. Can you discuss where the harm and causes shareholders Capital Markets and taxpayers . The core issue is credibility. We have to go back to
Trillion another half trillion since then is nothing to news at. Especially important week and i know we will get into this later, it is so whether or not they have been trying to build out a effort with iphone sales slowing down not due for the same kind of growth they saw kind of over the past decade wwdc important because of a dust up with a major developer they have been having in the past week not major because of the size of the company. We might be reaching a detaunt in that. And i know youre bringing us a big interview with brian chesky this hour. Thats right, im really excited to be part of this additional west coast coverage and to that point i sat down with brian chesky over the weekend and we talked about the travel rebound, and what the business likes like in this post kovid world take a listen. If there is a shut down or multiple shut downs, if communities are shut down, we will be okay we cut a he looks like dollars in marketing brian was very cautious about this it is a
Word for clues on the direction of us Interest Rates. The chairman of the Federal Reserve Jerome Powell will later give evidence to congress. Lets look at the markets right now. They are all headed lower in europe, we will be talking you through wife. Why. And making it all add up getting kids to enjoy maths at an early age. Well get the inside track on the maths board game designed to encourage more children to embrace maths. And so today we want to know is there such a thing as a math of is maths just a skill which needs practice . Do you have a phobia about algebra, geometry and equations . Let us know just use the hashtag bbcbizlive. Why do you need any of that stuff these days when youve got a smartphone . Thats not what i tell my children hello and welcome to business live. We start in brazil, where the countrys lower house of parliament is due to vote today on a long awaited overhaul of the countrys generous pensions system, which analysts say is critical to improving brazils pu