into a venture just don't lead your grip. the treasure map for modern globe trotter's gone for some of us are wicker breaking you know, doing book form the cut down the size. china continues its corporate crackdown. widespread regulatory squeeze on domestic tech firms that have got too big for their boots. that includes the ride hailing service, city tech tycoon jeff bezos is set to hand over the reins of the online retailer. he found it was sort of legacy will he leave behind at amazon and attempts to improve the green credentials of crypto county? mine is one of the biggest polluters around i bid for

a woman. let's do business. it was one of this is hottest listings of wall street. china is answer tuba city. it raised close to 4 and a half $1000000000.00. but the type that he was international for a could cost the company regulate his now scrutinizing the firms business practices . when d d 1st listed on wall street just last week, it felt like another milestone for the right healing company that has long been ubiquitous in china. facilitating 20000000 rides every single day. but some experts, what are ready getting worried? why think investors are a little worried about regulatory crackdowns that china is putting on its companies on this company? in particular, it seems they will write on monday. aging has ordered app store operators to remove the app. it is investigating d. d for illegal collection of personal data. also under investigation,

online recruiter, a pin and full truck alliance, often called for trucks and all for the same reason. and based on china's national security and cyber security law. as of now, all 3 app based businesses are banned from registering new users. meanwhile, d d is doing everything to please the government. we sincerely thank the responsible departments for guiding d d to look into the risks. rita statement posted on waco, where the company promised to rectify the issues. but to talk about this with, clifford coon and china i spoke with the cyber space administration of china says this probe is aimed at preventing risks related to national data security is, is that the real reason? well, it depends how you define risk and how you define national data security. so in this case, there's been a lot of new legislation on cybersecurity in china recently. and just to make

a distinction in the west when, when you have data mining or big data analysis, it's about companies want to sell you stuff most of the time. whereas in china, it's more about controlling about monitoring on a by maintaining stability in the system. so when private companies start doing, thus, the government wakes up, so it's part of a broader exercising of control, as well as matching. we've had a bit of a regulatory backlog in china or gap in china. and so it is partially to do that, but a lot of it is about control. it come so soon us to this massive i p. o that i mentioned . no, i mean the timing of the crack down how, how significant is that? well, coming as you say, 4 days after this 4400000000 dollar i p o on the u. s. and then going after 2 other companies that have just listed in the u. s. and the timing can very few coincidences in china. and i think this is no coincidence. it's also there's been

a lot of tension about chinese companies listing in the u. s. for example, because they have different rules. they've been imposing new rules on chinese companies that they have to be more transparent. so perhaps the chinese government feels that they're, they're revealing to many of their secrets that they're there. we're exporting chinese secrets or technology. so i think there could, there's definitely something behind the timing. and this is definitely going to be difficult for investors to know, you know, the rules keep changing all the time. and it's not just this tech from, of course that's being targeted. that's right. yeah. we've had, we've, we've had alibaba last year. they had a $34000000000.00 ip scuppered because probably because of remarks by jack mar saying that the state banking system needed to be reformed. so there is, there is a big crack down on tech at the moment. this is also the week after the chinese colonies party celebration 100th birthday. it's riding high, and it feels that wants to demonstrate that it's in control,

that it wants to show the people also that it shows that it's concerned about tech security because everyone is afraid of that is concerned about tech security. but i think a big part of it is the fact that they want to show who's in power and the timing of everything, as he said, is crucial because recruiting, thank you very much for coming in today. now a quick look at some other business stories making headlines. a criminal gang behind the latest ransomware attack is demanding $17000000.00 in crypto currency. the hack which exploded bone rebuild. he's in management software made by us. it has infected thousands of computers in at least 17 countries, most of sweetest grocery chain, co ops, 800 stores were forced to close on the weekend because of the hack. the european commission is drafting an e u wide green tax on high polluting ation fuels. as according to the reuters news agency, the drought is part of the blocks ambitious plans to slash greenhouse gas emissions by 55 percent by the end of the decade. living fuels for freight transport and

waterborne navigation within the you are also targeted. egyptian authorities, the sets release the ever given the giant ship the blood, the suez canal for nearly a week earlier this year, the japanese owners have reached a deal with egypt. it had retained the vessel while seeking compensation for damages lost revenues and the cost of salvaging it. exactly 27 years after the amazon was founded, jeff bezos is stepping down today as chief executive head of its cloud division. and the jesse is taking over, the company earns more from its cloud services than anything else generated revenues of around 386000000000 dollars last year. boosting profits to over 21000000000. amazon's market capitalization is 1.7 trillion. investors love the bays or group trade unions doped for working conditions and pay

a still bones of contention for an ever growing workforce. it was at 33700 back in 2010. as you can see, the last year, 1300000. amazon was one of the few hiring your staff at the height of the pandemic, adding a whopping 400000. now at the pinnacle of his excess space, also handing over the helm, he once more time for other things like space travel. his next project is a flight into space plan for july 20th. well, let's look. or let's turn over to kate ferguson who's been looking into the archives for us and digging around kate. i remember when amazon used to just sell books, how do you pay those manage to turn the company into so much more than that? yeah, for me 2 things really sunday. one of them is that in the early years of on bay not really focused relentlessly on expansion of expensive profit. and that theory is

a gamble. the paid off the numbers that you just read off every speak for themselves and less than 3 decades. you manage to transform was small online books, up that he was best running from his garbage into one of the biggest and most recognizable brands in the world. the other fancy, he used, which was extremely effective, was to invest heavily in the entire, in just her bank delivery. so building this huge network of warehouses and planes and trucks which enabled him to operate livery as far faster than his bible could. and when it comes to the question, the legacy, it really depends on who you ask if you're someone who's looking for your items delivered by lunchtime today. and just based on your hero. if you're a worker in warehouse with your every move being monitored for efficiency, maybe less of a good point. tell me how much will change and how amazon is run. well, they did the success there, and you jesse is not a household name, but he has been amazon for over 2 decades. and he has been running,

as you mentioned, the west services division, which is really the heating driver, a profit out amazon, and really seen the extraordinary diversification of the company with acquiring all sorts of different companies ranging from whole foods, to entity and entertainment. with your recently bought for a half $1000000000.00 understanding, you're likely to be more focused on expansion. i'm sorry for the case with work force base on the face of you to develop the company and what it is today. well, the difference is the backdrop for kathy is a far more scrutiny from regulators than, than has been the case of nice and navigating that balance will be one of the biggest challenges briefly, katie's, this global regulatory crackdown on big tech at the moment. go to change things for amazon, do you think? well, it's actually not that easy to craft and not something that we saw last week with. and the us supreme court actually cutting down as i lost the federal federal

government has applied against facebook. so we may be a little bit more pressure, but any meaningful changes a little while the way i think. thank you kate crypto currency mining. it's a power and is bad for the environment. it's more carbon dioxide, denija and tina. a bank of america report says no other human activity has a higher carbon footprint, which is why people are trying to make change. these serve as need know expensive cooling system. siberia, cold air naturally regulate the high temperatures generated by the mining rigs. they are stored at a former aluminum plant in brought a new by hydro power plant, generates electricity for the remaining aluminum plants, the new crypto mines with the media area. and the it could screen is a location for several reasons. the 1st is the cheap cost of electricity. there are

fundamental reasons for this, like the excess capacity of hydro, electric power plants built in this region, or an imbalance between electricity generation and its consumption. siberians could school region have many places similar to brought. the soviet union built many mines and hydro electric power plants along siberian reveries to 4th aluminum and other roll materials back in the 1900 sixties and seventies. mit triple ross. the company behind this crypto mining site does not do the mining itself. it just provides equipment for the data center and technical maintenance customers from all over the world, use the services we did the restore and we see that our asian clients, our aeroplanes, are more, more interested in how the electricity consumed is generated, whether it's green and for them to expand capacity to accommodate more equipment.

this is a really important question. the only environmental as well come, the use of access electricity. they also like that crypto farms do not admit carbon dioxide. but when not all hydro power plants are green. if this is so called, plain blade should have power, not mounting by clay, it's a lot of disturbance of nature like assistance. huge water is that we've change of climate damage for far as beverage for nature. therefore, ecologists are very skeptical about large hydro dams, and they're very skeptical to speak, that electricity produced by these dams are green. river ross is building new sites and rushes eastern siberia bordering mongolia and elsewhere. chinese clients in particular one to move the serve as they're using excess power generated by

existing hydro electric power plant in cold siberia seems to be a better way to mind bitcoin than using coal powered mines in warm a china, which need a lot of fans. nice during business with ah, the news of gold was right in front of it. then suddenly we agreed to postpone the or olympic games that tokyo with 2020 from. of course, during the qualifying ground for sports heroes, count down during lockdown starts july, 19th on d. w a little guy that is the 77 percent. the platform is used to be issued share ideas. you

know, on this channel we are not afraid to happen. young people clearly have the solutions, the future. 77 percent. now everyone on the w ah, this is the drink the grease, the wheels in china, the town of mammal time is home to the world's most valuable liquor brand. will corrupt officials prefer it because they only drink the most expensive brand to go and the love of the sweet and i was the price to go up for hours. and so he's doing

as an investigative journalist, your who has solved calling case is an exposed, corrupt officials. his work led to him spending a year behind bars. now he's come to mount ty, home to china's most popular liquor. brand wants to those, you know, region dollar, this thing toned enterprise is come, china's most valuable company. it's only for sake of the country's biggest bank in valley. well, well i think there's a story here to investigate handheld.