facebook and amazon or operate worldwide and set themselves above national regulation in most countries they can avoid taxes and use the monopolies to their advantage national day. protection laws just a nuisance to them and they don't like taking responsibility for what happens on the sites they have a watertight defense is they've insisted that just intermediaries all that this neutral market places of course that's not really the case says. special about these platforms is that the ones who set them up are the rulers there they decide the rules and they're also the ones acting in these markets they themselves created software. for example amazon has provider on the marketplace that it has created worldwide. so it's not just the referee it is the same time it's also a player with. 2 main reasons why the gaffa big 4 dominate the markets one is the network effect that is as services usefulness increases disproportionately with the number of participants the more the merrier then there's the feedback effect the bigger the side the more data it can collect to optimize the system and that

way 7 of the 10 most highly valued corporations worldwide tech firms apple microsoft alphabet amazon facebook the chinese e-commerce group alibaba and tencent which owns. the market dominance it seems unshakeable except for apple and microsoft all these companies have been around for less than 25 years in just a short time they've become the biggest players in the world market and their main resources i intended they include user data and algorithms. but would really change anything if he broke up logic operations well then wouldn't you play is just take over the market and we'd be back where we stop it is a platform isn't from lott only these platforms are markets but since they're part of our digital infrastructure the classical market mechanisms no longer apply. these platforms should be treated as a public service and be a freely available infrastructure. because the india. should facebook and google be nationalized and should digital infrastructure be freely available just like roads and rails without private corporations raking in a drain just profits would give the capitalism have to m

but a slew of major tech players announced they would not attend the event including amazon facebook sony deutsche telekom and l.g. by wednesday a 3rd of all reservations have been cancelled the organizers felt they had to pull the plug and cancel the event the spanish tourism sector had tried to prevent that by stressing how important the congress is. the mobile world congress represents around 500000000 euros in 3 to 4 days it gives us the feeling that if not the biggest it is the best week for barcelona. now it's going to be one of the worst many taxi drivers fear. it's a bankruptcy you never know but i don't know shit effects barcelona so much else in the hotel sector. the 4 day event scheduled for the end of february typically draws more than $100000.00 attendees companies usually launch new products there and showcase their latest gadgets that business will now have to be conducted by other means not. me and the business to more business news of the fact of course on our website that's t w dot com slash business also make sure you follow us on facebook and twitter stay tuned no

to have new tax rules for tech and internet companies because they feel like companies like amazon, facebookgoogle, they open their officers in low tax countries and even though the customers are based across the globe, so you could be manufacturing or providing a service from a low tax country even though your customer is based in a high—tech country, because of which they are able to register high profit stopping g20 feels there is a need to bring in new rules which is a fair tax system, however the united states has been reluctant to accept some of those terms and conditions but what the g20 leaders are hoping is that they will be able to make some progress on this and hope lead find those new tax rules for tech companies by the end of the year. 0k, thank you very much. staying with the coronavirus, air industry body iata says ticket sales could fall 13% in asia this year because of the outbreak. let's go to our asia business hub where sarah toms is following the story. how big a problem could that 10% fall in asia the airlines? it isa 10% fall in asia the airlines? it is a huge amount. e

amazon, facebook and google have strained existing rules because they are able to book profits in low—taxlike ireland, no matter where their customers are. the uk has planned to introduce its own digital services tax in april despite us objections in a move that could generate up to $650 million or £500 million a year. france has agreed to postpone its own digital sales tax until the end of the year, pending a global agreement. dominic stuttaford from international law firm norton rose fulbright joins me now. good to see you. so... how can they deal with this situation where these big tech titans are not paying the tax they should? what we needed global reform. the system hasn't kept up—to—date with how they conduct their businesses so the countries as a group need to agree on some change. how do you do that unless you have got every country agreeing to apply the same levels of tax? that is the same levels of tax? that is the real difficulty. it is something the oecd has been struggling with for years. the need to get 140 countries on board. they are making good progress. they expect to r

it draws more than 100,000 people each year, but amazon, facebook, and sprint were just a few companies that pulled out. >>> john lee cowell is due to resume his testimony in his murder trial. cowell is accused of stabbing nia wilson and seriously injuring her sister. on tuesday, he testified he believed the wilson sisters were aliens and members of a gang out to attack and kidnap his grandmother. nia wilson's family believes the testimony is a big act and the attack was racially motivated. >>> later today, san francisco mayor london breed will be speaking about homelessness in california. it's part of a state assembly budget cut. the speakers will give updates to legislators about what has worked and what needs to be improved. that hearing starts at 9:45 this morning. it will be at the state building on golden gate avenue in san francisco. >>> and, today, mayor breed will be at a second event talking about big issues affecting the city like the homeless crisis and city safety. annual city beat breakfast at the hyatt regency. how voters think as well as a 5 point plan to improve street

staying with tech, and amazon, apple, alphabet, facebook and microsoft are facing fresh scrutiny overition by buying up smaller rivals. the federal trade commission has asked the firms to hand over information about a decade of deals, warning it could lead to action being taken. the tech giants already face several government investigations into whether their practices harm competition. that's it for the business briefing this hour but before we go, here are the markets. asia—pacific rose on wednesday following another positive lead from wall street. not reflected in the dow. investor sentiment mixed about the immediate and long—term impact of the coronavirus outbreak. the largely positive morning following fresh record closes by the s&p 500 and the nasdaq in new york on tuesday. we can't show you that at the moment, though. traders reacted positively to cautious comments from the us federal reserve chairman jerome powell on the coronavirus. up next, news briefing. stay with us. one of the new competitions being introduced at the olympic games in tokyo this summer is sport climbing. t

microsoft is one of the largest but companies like google, amazon, facebook facebook, apple, we are all building more and more of these data centers. it's where we are all storing our data. they become the largest consumer of electricity in the world. >> host: so if i sent an e-mail from microsoft outlook here at the office to somebody at the office, does it have to go through the data center? >> caller: it doesn't have to. you can still user software in a form where you just stored on your own laptop or run on your own server computer in your office, but the world has moved to the cloud over the last decade. it's far cheaper. it's more secure. you're always going to have the latest technology. you are not going to have to upgrade it yourself. you can rely on microsoft cybersecurity team rather than those in your office. world is shifting and most technology is moving in this direction. >> host: what does it cost to build one of those buildings that you say is about the size of two football fields? >> caller: any time we open a new data center, usually hundreds of millions of dollars. i

big tech companies hit by coronavirus, how supply chains are hurting apple, amazon facebook and more. a morgan stanley with a 13 billion-dollar bill of what it means for investors and soaring ahead of their flight playing the new space race barron's table tonight we will start with reshma. the market hit a new high this week and started falling down to 400 points, one half percent. coronavirus clearly one of the concerns. >> the scope is unknown at this time. we have more cases in japan and singapore the last couple of days, the numbers out of china keep skipping around. their economy is not up and running yet. the chinese economy, some millions of people were quarantined, many render travel restrictions. goldman has an estimate of all the days that have been missed it's like two months of unpaid holidays. it's crazy so factories and production lines have been stopped and investors are really waiting to see what happens with manufacturing and transportation. as of right now the estimate is we are only at 3050% of normal levels. >> i wish stock markets would let me know if i should pan

you think of some of the biggest companies in the world today there's who amazon microsoft facebook which are all of them big tech with algorithms that. one more than just uses or customers will these businesses with generations of data they need us to like them for them to be indispensable because the more that we use them the more data we produce and we're in the midst of a great race for dot and big tech companies are on the chase. for the past 3 years academics nichol dri analysts have been investigating a phenomenon they call dot of colonialism. well the scales of context may have changed they say colonialism same underlying functions of empire building extraction and appropriation remain the new lang grab going on there's not land that's being grabbed it's us it's human life the acquisition the construction of data valuable data to corporate use out of the flow of the lines that's the language going on and that's why the work is the only one who does justice to that let's think for instance of all the and use her license agreements or the terms of use that we read whenever we sign u

you're looking at one chucked with the amazons and apples of the world. facebookot a downgrade to sell today. that put pressure on these names. >> right. charles: obviously at some point any stock that can go up 20, 40 points a day like amazon has last couple days, could be vulnerable for those kind of moves. >> right. charles: what do you tell someone into the market right now that wants to chase amazon? >> we think, for example, our tech names, our fund is overall up 10% year-to-date. the s&p is down about, is up about 2/3 of that. our tech names in the space, large cap tech are up 13 1/2%. facebook is the only one underperforming that level. so large cap tech is very strong right now. we think things will continue to through 2020. particularly if the political scene continues as it has the last few weeks for the democrats. what we think is a real sweet spot for investors right now is u.s. small cap. in particular non-u.s. small cap. our non-u.s. small caps are up 1 1/2% today. we think, this is undervalued area. so the small caps have not yet hit record highs.

am amazon, facebook, sony, microsoft, have all pulled out of the conference over concerns surrounding the outbreak and just a few hours ago, acti vision is asking employees not to attend the gdc as well. we know you have a lot of questions about coronavirus, so we have dedicated a page on our web site all of you are o reporti -- our reporting about it. the latest updates and advice on how to prepare at abc7news.comn't on the peninsula, a small fire on sent a plume of smoke for miles. you can see the thick brush and all of the firefighters, it's been so warm out. burned about 8 acres. fo building was damaged. the cause is under investigation, and firefighters plan to stay at the scene all night long to make sure there are no more problems. >>> a dramatic emergency landing today in the bay area. >> a small plane comes in and the landing gear is not working but the pilot pulls it off, and everyone walks away. we're going to have more of this amazing video. >>> this isn't a construction company, it's a big bust. the sting by a bay area police agency, and the six figure price tag on all th

amazon sony facebook erickson and intel among those that also they wouldn't be with tending a because they didn't want to expose their stataff to the possible health risks of international. travel well germany's biggest bank has worn that the current. out could. its country into recession. deututsche bank r research s sae gdp couldld be dampenened byy as mumuch as- point 2 2 in the firs quararter of twewenty twenty. tt would make a a technical recessioion or two cononsecutive quarters of contraction highly possible. gerermany's export drdren ecoconomy is highly reliant on china. the deadly viruses seen factories and businesses grind to a halt across the country. that's impacted overseas partners who depend on chinese parts for the supply chains. germany's gdp growth slowed drastically last year figures for the fourth quarter will be published on friday. but economists are expectining muted or possibly negative growth. the measure the american aviation giant boeing is already talking about restarting production of at seven thirty seven max fleet. those planes have been grounded around

i think i don't think you can now because google amazon facebook all work for the government i mean how many people realize that in october zaka berg was in the white house 2 times having dinner with donald trump. there is a total merging of the corporate corporations with the state we have a corporate status what mussolini by the way fascist called corporatism so now all the everything you're doing on facebook internet it's all going into government files they're creating algorithms and you're being watched by robots essentially but the point is that something can be done about this i mean on the local level because police at least now have sting ray devices in their cars that act as fake cell phones are they drive in front of people's houses and my house or whoever houses and download all you have or may show your laptop and your cell phone so they're watching everything you can stop that locally i mean you have an 80000 swat team right now where cops are bashing through people's doors and milena it up from 3180 people getting killed up to 500 dollars a day kids are getting killed i m

corporate wealth and the biggest of those firms were the ones that i profile in the book, facebook, apple, amazon, netflix a little bit and google. >> they make money, all of them, pretty differently but there is some overlap with facebook and google and digital advertising but look at apple and they mostly shunned advertising and look to sell their devices and technology, uber you mentioned is not an ad driven profitable company but makes money on a whole different basis. besides the fact we think of them as all being attacked they all have one thing in common. >> great question but it is an interesting point because right now they are all trying to very much separate each other while regulators looked tightly at this space. i think that think they do all have in common is the network effect. the network effect is something i talk about a lot in my book and it is the idea that as you get big you get bigger. the business model of these companies and of many unicorns in silicon valley and the private billion-dollar firms is to get territory as goofy as possible so everybody wants a moat, move fast

amazon, facebook, google, apple, the trillion dollar tech companies that are paying next to nothing backy. this is what we must fight for, new hampshire. we have record high corporate profits in this country right now. what else are at record highs? suicide, drug overdose, substance abuse, stress, financial insecurity, student loan debt, medical bankruptcy, mental illness, depression. what are at record lows in the united states right now? getting married, having a child, starting a business for a young person. we are following gdp and corporate profits off a cliff, new hampshire. they are leading us the wrong direction. i know how off our economic measurements are. my wife is at home every day with our boys, one is autistic. how much is her work valued at in a market economy? she gets a zero as does every's other stay-at-home parent in our country. how about caregivers taking care of ailing loved ones? also zero. how about volunteers and activists trying to make things better in our communities? how about coaches and mentors investigate our kids? how about most artists? and increasingly

we bring you the latest from apple, amazon, facebook, tesla and microsoft. new evidence raises fears the coronavirus could spread undetected. we'll head to a biolab where researchers are working on anti-bodies. and we'll show you the hot new video sharing app that has sky rocketed to the top of the app store. but it is tech earnings season this week with results from industries biggest names. let's start with one of the top performing giants. apple. they reported their highest quarterly revenue ever thanks to strong iphone sales. this looks to be the second highest ever iphone's quarterly revenue. to get perspective, paul allen and i were joined by analysts. >> i view this as a game changer quarter. it is fueling -- look at guidance. look at the psych. i think the stock is going to go -- continue to go up. not view this as a best case scenario. taylor: let me come to you on this. it seems like the iphone revenue was all that we really cared about this quarter, make sure it was so dependent on the iphone revenue coming in strong. your take? >> that is always

now to the us, where tech giants including amazon, apple and facebook are facing fresh scrutiny overn by buying up smaller rivals. michelle fleury has more from new york. the federal trade commission has asked that biggest names in technology to hand over information about a decade worth of deals. america's telecoms regulator is trying to understand how giants like amazon and facebook have used acquisitions to become so dominant. if the ftc were to discover anti—competitive merger activity in the past, it could lead to action being taken, with the ftc chairjoseph simons telling reporters it could result in unwinding. the request comes as the size, power and business practices of big tech are under the microscope, including several government investigations into whether their practices harm competition. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining us is writer and journalist, marisa bate. a piece in the guardian about ofcom giving a new role of policing online platforms. the government will announce draft legislation sugge

. >> i do wonder what you think when you see google, amazon, facebook laying out the millions of dollars out ads we saw executives in attendance in miami at the super bowl as well, how that compares to previous years and how it speaks to something we've been talking about so many times before which is this continual blurring of the lines between traditional media. >> i like the amazon ad, too, with ellen degeneres i thought that was clever, making fun of themselves >> except for the fake news line >> yeah. >> i've got to mention the contrast between what tech used to do during the super bowl, go daddy ads, and what tech is doing now with google, with facebook, with amazon. heart strings, real relationships. despite what's actually happening data wise online with relationships, at least culturally there's been a notable shift. >> absolutely. >> in women and relationships. >> remember money coming out of his butt that tasteless commercial. >> i've chosen to forget it. >> it's a step up for sure >> finally the brother of jeff bezos' girlfriend is suing the chief for defamation saying bezos

we bring you the latest from apple, amazon, facebook, tesla and microsoft.es fears the coronavirus could spread undetected. we'll head to a biolab where researchers are working on anti-bodies. and tiktok has a new rival in

the latest from apple, amazon, facebook, and microsoft.lus, new evidence raises fears that coronavirus could spread undetected. we will head to a bio lab where researchers are working on antibodies. and tictoc has a new rival in the u.s.. the hot new video sharing app that has skyrocketed to the top of the app store. first, it is tech earnings season with results from the industry's names. first, let's start with one of the top performing giants, apple. reported the highest quarterly revenue ever banks to strong iphone sales. iphone revenue was $56 billion in the holiday quarter compared with the average analyst 51.5 billion dollars. this looks to be a second highest ever iphone quarterly revenue. to get perspective, paul allen by analysts.ined >> i've used this as a game changer quarter. even the most bullish were thinking maybe a billion and a half. iphone isis shows the strong, not just in china, but look at a 5g super cycle. stock is going to continue to go this as a clear best case scenario. >> let me come to you on this. it seems lik

amazon wants to stream, facebook, across the board.t a lot of bidders for this intellectual property because, again, they are able to charge the highest fees to their media partners for that content. bill: and 100 million viewers for president trump and people like michael bloomberg. that's a lot of voters too. maria, great to see you. see you at the game tonight, all right? maria: you got it. bill: here in miami. for the sports fans -- thanks, maria -- there's the super bowl for the sports fans, for the political young keys you've got iowa -- junkies, you've got iowa. where are we a day away from the first contest of this presidential election season? we'll find out. ok everyone! our mission is to provide complete, balanced nutrition... for strength and energy! whoo-hoo! great-tasting ensure. with nine grams of protein and twenty-seven vitamins and minerals. ensure, for strength and energy. you get more than yourfree shipping.ir, you get everything you need for your home at a great price, the way it works best for you, i'll take that.

closely watched is once adopted, they will apply to companies out of the eu but else where like facebook, amazonnd apple so facebook ceo mark zuckerberg has been trying to get out in front of these issues, trying to focus the content moderation but there's a lot of scepticism the eu platforms will not step up on that issue or any other, as the commissioner told our colleagues at cnbc europe, the eu believes big tech has a special responsibility guys ylan, thank you for bringing us the latest out of europe which has been aggressive towards the u.s. moving forwards with these legislations. that being said, the workshop looking at the communications 230 decency act that protects online platforms for liability of users and the like. what is going on with that >> this is known as big techs liability shield the attorney general bill barr actually had very strong criticism of this law. he said basically the law is not only shielding big tech, it's also shielding the bad guys on the internet he said the law has been expansively interpreted and that means platforms are blinding themselves to what it says

apple and microsoft announced their target is off and amazon and facebook are canceling some major events>> the economic costs are the fear of catching this virus and not knowing the consequences. it's causing people to essentially lock up the production supply chain. if we even gang in a policy that promotes a lock-up, it will be costly. microsoft and apple are telling us it looks like the corner has been turned in china and they are reopening manufacturing and stores. and american companies will be able to get parts again. president trump's discussion of the trade treaties has made people more aware of the vulnerabilities. every ceo will ask can we have backups. gregg: politicians will never resist exploiting a tragedy for political advantage. chuck schumer is accusing the president of a towering incompetence. dick blumenthal called the white house response disastrous. don't we need a united front by our elected officials in washington to confront this challenge? >> i believe in the wonder world of fantasy and love. but politics is politics. that's what these people do. they do it on he

trade is obviously popular, but pretty narrow the platform companies like apple, microsoft, amazon, facebook stocks really driving the market the average stock in our broad tech index is pretty much performing in line with the market nine months now i think it is fairly narrow. those are also the stocks probably that are in good shape here because they tend to have more u.s. demand the other beneficiaries could be gains stock games stocks, activision office, staying in the office, zoom, unified communication processes. internet and software stocks not as much chinese exposure understandable they would do well nvidia benefiting from the cloud in the u.s amazons who by graphic chips and data center upsize in quarter. >> a longer term trend here maybe and should that -- you said most people comparing it to sars and ebola episode is that not the right comparison to be making >> i'm not an expert based an what we've seen so far, could be worse the mortality rate seems to be similar or less than eloll boeb. number of cases around 65,000, the curve, much steeper than we saw with those two obviously

the gods of the mega data world or the big 4 google amazon facebook and. we had a desire to see it in action. here google has built its largest research center dedicated to ai outside of us with 2000 contributors hailing from all over the world. google has always been excited about artificial intelligence and the use of machine learning has increased rapidly in the recent years and it makes possible what was impossible just a few years ago. machines are learning in a different way from humans so you need to see a lot of examples to understand what is seen on a photograph for example if you are teaching at a computer to recognize a kathryn's image you need to show it a lot of examples and a system would try to take a guess it was a new pictures and every time it would make a mistake for example. mislabel a dog for a cat it with the just the burma and there's a tiny bit and then after seeing probably a 1000000 off examples the system food norm to differentiate between cats and dogs as well as people do. when is my next making the next thing on your calendar

we joke around here about the maga stocks, microsoft, apples, googles, amazon. facebookack where it was. we resolve in the names. are you concerned about a concentrating focus? you're working on a special apple report right now, aren't you? >> yeah, we are. charles: an a tesla report as well. >> we're doing tesla and apple not justifying tesla at 900 but we're i saying a lot of pieces that will fall by the wayside as a result of it. getting to your question, a lot of megastocks fueled by easy money. based on current conditions expectations and feels like easy money is here to stay. charles: one of the thing that bothers me,. >> being, look at participation by the american investor. taking out of domestic mutual fund and etfs, putting in bonds and emerging growth funds. why do you think so many american investors don't hitch wagons to the name, that they love and excited about, they keep searching for value in emerging markets and things like that. >> yeah it is remarkable, charles, given the fact that the given the fact momentum is so strong for this market so many years

. >> i'm going to take microsoft, amazon, facebook, apple. [laughter] i'm going to take all, they are all hitting records right now. no wonder we could see a brand-new nasdaq record when the closing bell rings. tech is what is driving the bull run for all major industries as we head into the final all-important hour of trade. earnings in the u.s. economy are what are beating back the latest coronavirus fears even as the first american died from the deadly outbreak. our u.s. companies who are we opening their doors to china operations making a big mistake? the international corporate lawyers who say yes. the first primary of the 2020 election season is just hours away, wait till you see which candidate are speaking live in this hour. we will take you to new hampshire in the campaign trail. you have heard of blood diamonds, what about blood makeup. we have the founder and ceo of beauty counter, have you heard about this company, the founder is disrupting the entire cosmetic industry cleaning up the dirty underbelly and making money hand over fi

it draws more than 100,000 people each year, but amazon, facebook, nokia, and sprint were just a few of the companies deciding not to attend. >>> john lee cowell who's on trial for fatally stabbing nia wilson is on trial. and seriously injuring her sister. cowell's lawyer says he suffers from schizophrenic delusions. on tuesday, he testified he believed the two women were aliens who were members of a gang and out to kidnap his grandmother. . >>> several companies including pg&e and recollogy. the city attorney's office issued eight subpoenas as part of that scandal involving san francisco's former public works director moumd nuru. nuru gave inside information to restaurant owner nickbovas to help him bid on city contracts. the san francisco parks alliance and san francisco clean city coalition. >>> a new report from california consumer watch dog group says most grocery stores are not warning customers about food recalls. calper ranked two dozen of the country's biggest supermarket chains. target and kroger received a c. the rest received failing grades including whole foods, safeway,

even closer scrutiny from the federal trade commission, investigating past acquisitions made by amazon, facebookt, google, looking for information on past deals that were not required to be reported to antitrust agencies because the because wasn't high enough. the agency's conducting a antitrust probe of facebook and the department of justice is reviewing the tech industry, everything from data practices to its handling of harmful online content. president trump has repeatedly criticized big tech. tuesday he said this -- >> we have four trillion-dollar companies. with is microsoft, one is apple, one is google, one is amazon. you have amazon, google, apple and microsoft. and so you have an m, you have an a, you have a g, and an a, you have maga. >> all goes back to m aga. we'll be right back. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everythin