We start with the social media app tiktok because its ceo has vowed to keep on fighting after the us House Of Representatives passed a bill that could see the app banned in america. Shou zi chew released a video on tiktok threatening legal action and warning that if the bill becomes law it will mean the end of tiktok for its 170 million users in the us. Well hearfrom him injust a moment, but first, heres our us Business Correspondent erin delmore who has been following developments on capitol hill. The houseboat sets the stage for what could become an ultimatum to tiktok Chinese Owned Company bytedance. Selby avenue or it will be banned. There is a way to go between here and there. It needs to go through this and it faces an uncertain future. The Senate Majority leader has been noncommittal about whether he will bring it up for a vote. Some studies are only about to vote against it. If it does move through the senate, President Biden that he will sign it. Components of the bill argue t
The defendant. We have to pay the price. I agree on the concept, of course. U. S. Consumer prices increase at the slowest rate in nearly three years keeping expectations for a june rate cut on the table. We will hear from two policymakers later on today. Staying in the u. S. And bad to worse. Shares of Community Bancorp plunge in extended trade after removing the ceo after weakness in internal controls. Good morning. Lets get to some fresh data pointseurozone. The final pmi of 47 over 466. 1. Eurozone factory activity contracting for the 20th month in a row. Coming in higher than the flash. Euro dollar at 108. 09. Lets get back to the top stories and earnings news out this morning. Daimler truck with a beat on the full year. The company said it sees revenue being close to flat in 2024 amid tough economic conditions. We will be hearing from the ceo martin daum at 11 45 cet. Thats a first on cnbc interview. Swiss Logistics Group posting a 49 fall in annual operating profit which was wors
And adjust for growth rates, there is not a meaningful valuation difference. Haleon eyes higher revenue in 20 24 and the ceo says shoppers are sticking to brand names. Moving to private label is minimal. We have seen Little Movement to generics with a pharmacy business in europe. Overall, categories have moved well. And the luxury brand beats with a 17 jump in group revenue. And air france shares are wider in the Fourth Quarter despite record fullyear re revenue. Good morning and good afternoon to everyone. Happy leap day. Lets get back to earnings. Hong Kong Exchange has posted a 13 drop in Fourth Quarter net profit. A slowdown in the chinese economy and fewer listings hit the volume at the hkex hit at 20 . Emily tan spoke to the ceo and asked him whats guiding sentiment. Interest rates are important, especially in the market like ours, with a lot of Technology Companies. This high pe companies, like hkex, we are trading 20 times e earnings which means cash flows are in the future. Ha
Platforms and stanley weighing in on ai well break that all down in just a moment. Plus the future of the ad space. Why amazons approach to retail media could redefine advertising. First, a check on the markets. All three indexes up slightly with the dow higher right now by. 03, thats 13 points s p higher by 5 points nasdaq moving tore way by a little down 10 points. Down big is disney after its results. Streaming showing some improvement, the companys Digital Strategy may be helping out here. Plus, telehealth plat tomorrow hims and hers higher after reporting Strong Revenue guidance. Wow and on the tech front, palantir down big after reporting weaker than expected guidance, down 15 . Well hit that name in threestock lunch further ahead. Speaking of tech, a new law aiming to hold tech firms accountable for online child abuse. Emily wilkins has more emily . Reporter hey, tyler. Yeah, President Biden is expected to sign a bill very soon that would hold Big Tech Companies more accountable
I am Katie Greifeld in new york. Welcome to bloomberg markets, and it feels like a week is just Getting Started with amazon after the bell tonight and the fan tomorrow. Take a look at how markets are feeling heading into those events. Not too great at the moment. The s p 500 off by 0. 2 . Same thing if you look at the nasdaq, off 0. 2 when it comes to the big tech names. The bond market, we are back in selloff mode with the 10year treasury yield higher by five basis points. We are getting closer to 4. 7 on your 10year treasury yield, and one of the reasons why has to do with numbers we got at 8 30 a. M. Of course, the eci. I can imagine that eci print was good news for the fed. Not good news for the fed. A big drop in Consumer Confidence from a revised 103. 1 down to a 97 for the headline number. The present situation is a big drop from 146. 8 to 142. 9. A drop in expectations to 66. 4 from 74. 0. Of course, we have to check out the jobs, plentiful jobs hard to get situation because th