they want the third party app store. this is the first round of appeal and why this probably goes on for years in the courts, guys >> really notable in the way it attacks and is operating i want to bring in john gruber how potentially impactful could this be for apple? >> i think it is still unclear to me what could happen in apps if this injunction takes place or not what is clear is the anti-steering provisions that apple stuck to you can't tell people to go to netflix.com and sign up on the web. that's done and they'll be allowed to do that very unclear to me what it means for games and will games be able to sell directly through that app, which is what epic brought the suit to be able to do. it is a big difference to me in how it affects apple >> john, the notion that gene brought up sort of relying on the friction in terms of managing all of your accounts. >> i think it is an under talked about aspect of the consumer advantage of usage of apple's current system everything you signed up for in any app that is a subsc

seem to fall into that category, but gaming and in app purchases, which account for about 90% of app store revenue do not this, of course, follows south korean legislation that ensures google and apple have to let app developers use alternate payment systems there. if that's not enough, india trying to strike while the iron is hot, filing their own antitrust suit against apple, alleging the 30% commission fees stifle competition, the overall thrust all of these challenges and changes is that apple's grip on that 30% fee that it charges some developers, not all, that's eroding. the wall garden ecosystem of the app store perhaps under some threat julia, i think that this latest shift out of japan, especially if it does in fact apply to the likes of spotify, of netflix, if you can actually buy kindle books directly, which it is not clear you would be able to, but that would be a big deal, not only for consumers, but for the broader ecosystem. >> absolutely. look, we have to know that we're not entirely sure how this is going to work yet, it seems according to sources close to the situation th

however, they are not going back to the app store anytime soon until epic can offer in app payments in fair competition with apple and pass the savings along to consumers. this is not end here. there will be appeals and it will go on several years. apple is under a lot of scrutiny. amanda: of course, there are other jurisdictions that have yet to rule and they may not agree that this does not constitute anticompetitive behavior. emily: epic has sued apple in the eu, u.k., obviously, there are other countries looking at this. south korea became the first country to force apple and google to offer alternative methods of payment to consumers. south korea could potentially lead the way in a radical stage of how the app stores operate. matt: emily, thanks. emily chang talking to us about this ruling on the apple-epic decision. we will have full coverage on the ruling on bloomberg technology at 5:00 p.m., new york time. even on friday night. time for stock of the hour. affirm holdings has had a bevy of the news lately, following its new deal with amazon. strong fourth-quarter earnings. jay w

if that's no longer the case, how does the app store change?om competitive practices, they are antitrust expert -- our antitrust expert will tell you, as long as it is competitively built up, particularly organically, and that has walls, you have to pay to get in. we can discuss as to what the appropriate fee for that is, whether 30%, 15%, etc. but the fact that it is organically built up and you can charge to get in. the second part of it is, can the regulators then come in and say it's a public good. as a result, you have to have a fair value or a fair price that is easily accessible to all. that's a regulatory action. that's going to take a long time, if it ever comes to bear. there are a couple mechanisms that apple has to thwart this, by reducing the barrier to entry. they have done that to some degree with lower barriers for smaller developers, etc. they can do some things like that that take the teeth out of these actions. but if you think of the overall walled garden ecosystem, the fact that you have to pay to play in business, it doesn

, on app store revenues and that is going to have a modest impact on their app store sales, but onlylowly as different regions make irregular process towards that fee. >> certainly every region is approaching this in its own way, but there is pending legislation here and a broader sense of antitrust scrutiny the epic lawsuit as well what is the risk from all of those factors? is it a risk of distraction? and is there ultimately going to be a meaningful risk to the revenue from the app store >> i think it is something we have to keep our eyes on, for sure. i don't think it is necessarily fiscal '22 issue for apple but may well be for fisk's '23 one of the things apple is doing is starting to allow other payment systems on the app store, but, of course, kind of you have to opt into them. it's not something that is going to be as easy. even if that premise goes much broader, well, consumer behavior must change as well. >> all right thank you. >> thank you. >>> and the nasdaq hitting an all-time high to kick off the first trading day of the month major averages ending higher to wrap up a

apple says it's app store ecosystem. facilitated $643000000000.00 in billings, and sales during 2020 alone. so what does this mean for the future of app stores as these practices phase increase scrutiny worldwide? we'll discuss, let's bring in our inspector of law at new york university where the focus in anti trust law. thank you so much for being with it, professor. prop park. can you break down this ruling here? was there even a clear winner? yes, thank you. there were 2 parts of the case, one was what we call an antitrust case, and that was really the, the case an apple one, all of that there was also ok. this was in california and there was also a case under the california unfair competition law. and epic one, a significant part of that case. however, the big winner is apple. and the big loser, i think, or consumers hurt by firms that have significant market power. but under a law they're not called monopolies. that's an interesting way to look at it that we see that they have so much power, but yet that word monopoly is a really defining term here. so how important is this poin

>> well, for example, you can install a square app, but it isn't eed to access the nfc you can store can't be a full camera app so there is a lot of places where the apple security -- the security reasons for that and privacy and performance reasons for that, also a bunch of things that apple locks down that mean there is innovation that can't happen and the interesting kind of countercase is to look at android, where google has weaker controls and in particular to look at android in china, which has always been well, you know, google has any control, nobody is in control, you get a chinese android phone and you have two, three, four different app stores on the phone, who were fighting each other for updates and fighting to control what you can ins install. there was a wonderful story from a couple of years ago that if you bought a -- it was scraping your payments from inside the -- app. because there was nobody to tell them they couldn't do that so you could have a lot of innovation, not necessarily innovation you might particularly want if you didn't have any controls at all the pr

so how important is this point about apple not having a monopoly over mobile gaming on the app store? it's very important. it's important, but to apple and to big tech in general. and it fits in a way with that. can you see the another court dismissed months ago, federal trade commission against facebook saying the federal trade commission hadn't pleaded enough facts from which the court could determine. it was a monopoly. and if the firm is not a monopoly, it's just not subject to control for the actions that it does to exploit the people on this platform. so i would say this is just another when we're big tech, being able to escape this law that looks like it should have a lot of teeth, but it doesn't. it's called the law against monopolization earn. what are we thinking? the epic is actually hoping to accomplish with this appeal. do they have any standing here? what happens next? yeah, well, they certainly have stanley because this was held against epic on the anti trust case. and they're hoping to get reversal by the court of appeals. they're hoping that the court would say that t

this is the biggest change ever coming to the app store. she will force all app developers to be able to promote outside purchasing mechanisms. you can go to the web to complete purchases, whether it is a book of the amazon app, amazon implemented this -- said they would -- for spotify, and other apps. now it will go to games, which are more lucrative. emily: epic will appeal the decision. they lost on every count. they will have to pay millions. isn't this potential debt in the app store a victory for epic? >> it is a victory for epic, but you know what is not a victory? the fact fortnite, their game, is still not in the app store. the ruling from the judge doesn't require them to reinstate it. that is a big blow to them, in addition to losing every account they had. the ceo said it was not a win for customers and developers. it seems the epic camp is unhappy about the ruling, despite the win. the only winner is the third-party developers, who may benefit from these app store changes. epic is not happy today. emily: epic saying -- tim sween

paying apple a cut of the money that it makes an apple said no way and it kicked fortnite off the app storend they went to battle in court. the judge has said it can't put its own payment system inside the apple store and i have to pay apple cut on the prior revenues. but what it can do a direct players to go outside of the app store somewhere else into play epic directly, that the way to get around paying apple apple full-time% on the news and zingo was up big and electronic rose the more mobile game makers might be able to get around paying apple for the revenue but apple continues to have the most attractive place on the planet to sell apps and it's app store. jack: is one of the most important stores in the market and the story will get an upgrade next week we expect a new apple iphone to be released maybe they'll call it the iphone 13. what are you looking for and what's exciting about this. >> if you like speculation about new features, i'm nothing for you if you looking for bubble come thank you might get that there is a notch in the display that nobody cares about, it'll have 5g, be

paying apple a cut of the money that it makes an apple said no way and it kicked fortnite off the app storend they went to battle in court. the judge has said it can't put its own payment system inside the apple store and i have to pay apple cut on the prior revenues. but what it can do a direct players to go outside of the app store somewhere else into play epic directly, that the way to get around paying apple apple full-time% on the news and zingo was up big and electronic rose the more mobile game makers might be able to get around paying apple for the revenue but apple continues to have the most attractive place on the planet to sell apps and it's app store. jack: is one of the most important stores in the market and the story will get an upgrade next week we expect a new apple iphone to be released maybe they'll call it the iphone 13. what are you looking for and what's exciting about this. >> if you like speculation about new features, i'm nothing for you if you looking for bubble come thank you might get that there is a notch in the display that nobody cares about, it'll have 5g, be

the app store has been under scrutiny from different regulators and lawmakers and we've seen apple making big adjustments. just recently. we saw them make adjustments with the so-called media apps companies like netflix and spotify. apple now saying okay. you guys can now offer in app links to your websites and apple made a change saying developers can now contact their customers directly via e-mail with the alternative payment systems. so you are seeing different moves here of course what apple's adversaries and critics want is much more than a change of the steering clauses we've had them on this network they are hammering the table for much more dramatic changes they want third party app stores they want alternative payment systems in the app store that is not what we're getting so far. >> how do we quantify though what the loss of this most important part of the case i think you could characterize it as really means for apple's bottom line? i mean, i think at the end of the day, that is what matters most >> yes, obviously an investor pays very close attention to this apple doesn't bre

he wished to take payments outside the app store. one of its biggest moneymakers. apple takes a lot of up to 30 percent of in app purchases and the band developers from directing buys to external payments. that angered epic games which all the make as a fortnight played by 400000000 people. it was kicked off the app store for deliberately launching its own payment system and took apple to court. the epic didn't come out a winner. i that the judge ordered it pay apple $3700000.00. that is 30 percent of the revenue collected while violating apples commissions. apple has insisted its fees are fair given its investment in the i phone, which it calls in each product, even though more than a $1000000.00 people now have one. join me now from london is garrath davis at global editor in chief for the website tech radar. a landmark ruling tell us about the significance and what it means to apple. it's interesting. one fact i was calling this a win because basically it's saying that of all the claims that could have been how the many of them were not the is not been not listed

now that could impact apple's app store sales which grossed an estimated 64 billion in 2020, that lot of remaining questions here for investors will apple appeal this decision, and even if this rule is imple implemented, how would consumers respond. gene munster of luke ventures bets most consumers even if given alternatives would actually stick with apple's payment system because it's simpler, easier and more convenient worst case a 4% hit to annual earnings for the first year, more likely he says a 1% hit however, this does not end challenges for the app store has been under increasing scrutiny with regulators and lawmakers taking, you know, a much harder look at this business courtney, back to you. >> yeah, well, very interesting day and i'm not sure that everyone agrees that it was a win for apple, especially if you look at the share reaction josh, thank you. >>> let's trade this and get the opinions of our traders here tonight. i'm going to start with you, karen. i mean, what do you make of this ruling we saw apple shares fall josh says apple says they're happy with it. apple's n

as a result, apple booted the game off the app storeruling on friday a federal judge ordered apple to allow developers to offer in app purchases to users but the judge rejected epic games allegation that apple ran an illegal monopoly on what happens next, here's cnbc's julia boorstin. >> reporter: shep, this case could drag out for years with epic's appeal, legal experts predict apple will appeal. both companies taking issue with part of the ruling in the meantime, voices from both sides of the aisle on capitol hill are taking this as an opportunity to push their antitrust legislation. senators richard blumenthal, bl, senator marsha blackburn senator blackburn and amy klobuchar say this is a start but not enough klobuchar said, quote, we need to pass federal legislation on app store conduct to protect consumers. promote competition and foster innovation what the bill aims to do is give consumers more time to allow third party app stores and payment services and to advertise lower prices outside the app store. now companies other than ep

i know you're aware that senators blumenthal, klobuchar, and i filed the open market app store bill so we could address google and apple and their stranglehold on that app market. very quickly how do apple and google's data practices factor in to this app store and limit the use there and do they incentivize the app store developers to continue the monopoly over this market that they have? how are they manipulating that marketplace, very quickly? >> thank you so much, senator blackburn. we were so glad to see the introduction of the open app markets act. i think that is going to be really important not just for big data but for gatekeeper power at large when it comes to app stores. but in particular, with regard to big data, i think the app stores and the operating systems have this privileged position where they can treat users' decisions about their data differently based on whether the app is owned by the app store company or the operating system company or whether it is a competitor. so one thing that is really important is to make sure those are being treated the same so that we h

do you think they have enough heft to undermine the app store and to continue to press this in other jurisdictions? or will they ultimately have to get with the program or risk losing their customer base >> well, look, kelly, i mean i think one thing's for sure is that this battle is far from over sweeney indicating they're going to appeal this there are parts of this we can expect apple to appeal this is a battle that's going to be dragging out for a very long time we've seen epic and tim sweeney function without the app store for a while, but i think the question is big picture, you know, does epic need to be on apple devices? the answer is yes. does epic want to make a point here and stake a claim here? and the answer is yes as well. so, i think that this battle is going to continue. john is right in that this is not a meaningful piece or an impactful piece of apple's revenue, but it is a key piece of their business and the way they think about their business. apple has made concessions they were moving in this direction. this is a step further than the concessions apple has made

. >>> apple bending to pressure when it comes to app store payments its second concession in as manyks. >>> sticking with tech anti-trust officials looking at google with the advertising technology business. >>> golden trouble for the golden arching calling on 14-year-olds to fill the hiring gap >>> it is thursday, september 2nd, 2021. you are watching "worldwide exchange" here on cnbc good morning i'm dominic chu in for brian sullivan here is how stock futures are looking on thursday morning so far. as you can see, right now, the futures are implying a marginally higher for the dow. up 75 points s&p higher by 10 points. nasdaq implied higher by 38 points nasdaq and composite coming off fresh record highs from yesterday's session. let's get to the top stories with kristina partsinevelos. kristina, good morning >> reporter: good morning, dom apple right now says it will lo loosen rules on the app store and allow customers to collect payment information and skirt the 30% commission on app store commissions. the company faces pressure over its app store. >>> moderna submitted documents

apple charges a 30% cut to buy through its app store.ing came down as part of the blockbuster battle between the maker of fortnight, epic and apple. >> to encourage users to buy our digital items directly from us, say, on a website or elsewhere, and therefore avoid that 30% tax. >> now those companies have to convince the people who use their apps to make payments. shares of apple fell by 3.5%, which has also moved the market. >>> in san francisco, a battle is brewing over a plan to turn a japan town hotel into a home for the homeless. >> reporter: in japan town, neighbors say they're just starting to see tourists return after the pandemic. for much of the pandemic, the kempton hotel was used as emergency housing for the homeless. now the city is looking at buying the property and making it permanent supportive housing. and that has the neighborhood crying foul. >> when we like it or not, taking away this hotel with its potential to bring in visitors will further destroy what fragile economy we have left in japan town. >> reporter: dean

>> in 2020, they made $6.3 billion off the app store in the u.s.ne. 3.8 million of that is in gaming. gaming is 70% of revenue for apple. apple -- epic got a ruling there that opens of the payments but it is key to say that the app store had superhigh profit margins for apple. it is easy to scale. apple wants to grow revenue from there. nothing away from its hardware and especially from iphones. this is a key part of that. using -- losing that tight grip will affect it. yvonne: thank you for joining us in tokyo there. we have been talking about the internet giants in south korea taking a hit from that tech crackdown. regulators expressed concern about the growing power and evaluations of internet companies after the pandemic spurred an unprecedented amount of activity. let's bring in our next guest. we are seeing this regular toy crackdown spread from china to south korea now. is it fair to draw parallels between the two? what makes it different? >> no, i would say it would not be the same. china, as you know, the communist party covers the country

for cuts in the fees on the app store and some of the other rules of the app store then both sides getey want, and apple then becomes an ally of antitrust regulators and buys itself essentially a get out of jail free card for the future and i think that's really going to matter. and i think it will give apple a monstrous win. as an investor you very much want them to negotiate because the alternative is much, much worse. >> roger the fact that you have penned this open letter to tim cook, haveyou actually spoken to anybody at the company yet? >> i have spoken to people at the company. i have not spoken to tim cook. the open letter is sent with love i am a huge fan of apple and i think they are in this position because tech companies have faced no regulatory pushback for so long that they are used to being essentially like governments they set their own rules and enforce them and don't care what anybody else thinks. that is changing in antitrust. apple, unfortunately, it's not as bad as google and facebook, but, unfortunately, fixing apple's problems is easier it's tempting for regulato

there are developers who want alternative app stores, they want sideloading. is never going to happen unless apple's hand is seriously forced by government. the point about opening up to the 30% circumvention of other apps, it may happen. i'm looking for apple to loosen restrictions on cloud gaming services. especially because, here is a little tidbit, they had been thinking about turning apple arcade at some point in the future into a cloud service. spotify complaining today that apple sends advertisements through push notifications to users to sign up for apple music. either apple needs to stop doing that, or allow spotify and netflix to be able to do that, as well. they want an equal playing field. they will get that. they will not get sideloading of their own app stores. emily: i want to turn to twitter. twitter is adding more features to protect users' privacy, making it easier to use the app, get a more mainstream user on board. naomi, what exactly is twitter really doing here? naomi: so, twitter is making a real strategy shift in which they are experime

right now they charge a 30% cut to buy through the app store. the ruling came down as part of the blockbuster battle between apple and the maker of forth night, epic. >> for us to encourage you to buy our digital item directly from us, say on a website or elsewhere, and therefore avoid that 30% tax. >> those companies have to convince users to go elsewhere to make payments. not an easy task in our one-click world. share prices for app companies went up. share of apple fell. >>> move over harvard, forbes has named uc berkley the number one college in the country. the magazine chose it because of the school's lower tuition costs when compared to other schools, the quality of education and diversity. harvard regularly topped the list, but the forbes ed tors say the pandemic made them rethink the rankings. it is the first time force has put a public urts on top. as for harvard, slid to number seven. >> >>> we'll show what you happened in high school football next. >>> we'll show what you happened in high school football next. >>> we'll show what you

the battle for the app store is over. a new ruling could change out people purchase things on their phones. plus the effort to contain the caldor fire. the latest on the fight to stop forward progress and remembering all the lives lost 20 years ago tomorrow we have a live report from the crash site. a united flight 93. i'm meteorologist lawrence karnow night. it was lightning and thunder all around the bay area what we expect for tonight and the weekend. we'll talk about it coming up next. >> tomorrow marks 20 years since the 9.11 terror attacks. and for years people all across the country. they have visited the flight. 93 national memorial in shanksville pennsylvania, pay their respects and in some cases learn about what happened on that fateful day. matt alvarez says live in shanksville, tonight and takes us on a tour of. >> what people can expect to see and experience if they go there. matt, it's such a different site from, you know, the world trade center and the pentagon. good evening deal. >> good evening. you're ex

the iphone maker announcing it will relax app store rules for some developers. media apps like netflix will be able to link to external websites for payment by users. also affected by the change, video, audio, music, reader apps, spanning magazines, newspapers, books. it does not apply to the most lucrative class of mobile apps, games. it comes at a time of rising regulatory scrutiny and criticism of apple and alphabet's market dominance on mobile platforms. let's look at this and other big tech stories. we are joined by david kerr patrick and mark gurman and naomi nix in washington. i want to start with mark. it is a significant concession from apple. talk about who this benefits and how, and where it may not go far enough. >> like you said, it is massive. when the news broke last night, it was immediately significant. to me, it felt like the ball game for antitrust crew of apple was over. they are giving developers, particularly what i have said apple should do for months. it is the same the judge in the apple trial said. they will allow developers for the firs

it's a prime destination for gamers and podcasters, a landmark ruling is about to force apple's app store to make significant changes. changes had many app developers celebrating tonight. our business tech reporter, scott budman shows us why. >> reporter: if you upload your podcast on noom, you can make money. the feed the tech giant charged -- >> this ruling is good for app makers and it's good for creators. >> reporter: some creators make a living on apps like this. >> our streamers make anywhere from $100,000 to $1 million a year. this could have an impact on them. there is a catch to the ruling, companies have to convince users to go some where else to make those payments and we live in a one click world. >> most people prefer a friction less experience and not going outside of the app, developer's website and entering their credit card information or using a preapproved method. >> reporter: local company like zynga saw their stock values popped. i remains to see if they and other companies can convince people to leave the app store in order to make payments. in los gatos, scott budma

the second point is let's talk about the popularity of the app store. it is still by far the most popular franchise to put your apps on, if an app wants to be discovered, wants to be successful, the owner has a reason to be on this now once you start to take away the laws and apple has no slice of the in-app revenue, to put somebody on there decreases quite dramatically there's simply no money to be made, let's face it. that calls for a different model where apple might charge a company that has potential for in-app purchases up front in a yearly fee, something of that nature, to cut off that $1.2 billion impact we were talking about. or they might meet the app developer down the line and reduce the 30% payout to make the impact more palpable to apple. that's the way we're thinking about this >> that's really fair and interesting. >> it's impematerial >> that's the bottom line. even if it goes through, and you're telling us clearly there's more legal action on this trail to come here over the next 90 days and you cite the judge did not describe apple as

get back to the app store.im cook doesn't tweet much. he's doing okay. >> he doesn't tweet much but his comments are still getting leaked out despite his best attempts >>> at facebook, a top executive will leave his post next year becoming an adviser. he has been a close confident of zuckerberg and he does oversee the future growth drivers including the ai, virtual reality, augmented reality and blockchain units andrew bosworth has been tapped as his replacement bosworth developed features including the news feed and messenger, both key to facebook. mark zuckerberg talking a lot about his interest in building the social platform into a metaverse company. this tap into bosworth shows a commitment to bos since he has been working on all the metaverse initiatives. several high-profile depart choours h have hatched this year interesting to see bosworth focus on hardware as well as the meta verse you have to wonder if this indicates that facebook will be investing more in creating new devices. we had the new portals

in other areas, the judge essentially gave all other apple business practices in the app store a sealof approval. >> as far as antitrust laws is concerned, it's app store and the way that it manages its platform, the rules it puts on developers, and how they can handle their apps in their store , and how they can handle payments, all of that is pretty much okay. >> epic games is suing google over similar issues a tad with google's play store. after the announcement of the judge's decision, apple started to fall earlier today, the overall ruling is considered a win for apple, documents reveal 70% of the app revenue comes from in app purchases. >> live pictures in oakland where twitter plans to open its third office despite having most of its employees working from home. the social media company has signed a new lease to occupy 66,000 square feet across four floors of an 18 story building. is located downtown on 1330 broadway street, twitter says the space is being designed to support hybrid work and group projects. opening is set for late next year. >>> up next, finding a voice and rai

we saw a judge ordering the company to change the way it's operate -- it operates its app store in anntitrust ruling. we are hearing from the u.s. climate envoy in india on his 2050 climate goals as we count down to that key climate summit. the chinese foreign minister will be visiting since the first time -- or the first time since november next year -- last year. >> heidi, investors will be looking for clues in the wednesday data. signs of weakness raised concerns over china's ability to drive a global growth rebound. numbers are expected to show the impact of the recent delta outbreak on the mainland with retail sales likely to take the brunt of the damage. >> more on what to expect with the chinese data dump with our chief asian correspondent. china is the world's second-largest economy. what are the implications of a chinese slowdown in 2021? >> i think all indications are that investors and analysts are worried about the impact of the virus. over august, we saw the pmi surveys showing a big slowdown in the services sector. ever grand, a property developer . the concern now is th

but in particular with regard to big data the app stores in the operating systems have this privilegedere they can treat users or decisions about their data differently based on whether the app is owned by the app store or a competitor. one thing that is important to make sure they are treated the same to have a level playing field for competition. >> that is important to note. and you mention that gatekeeper and how that applies to other application whether publishers and other forms of content development. i think this is an important bill that we get past on the record and quickly on filter bubbles and then you mention how do you think we could address the filter bubble and platform secret algorithm that manipulate that consumer experience online? >> one of the ways the data is used to decide what products to show the users those that show the gatekeeper role that is baseded on an algorithm for the data collecting from users so those decisions about what to showcase those are decisions that platform can make and that is limiting the options the user sees. >> the open at market act s

shopify cut the amount that developers have to pay to be in its app store as well. i think this is about a particular stage and ecosystem development, when some of these platforms feel, i think an increase in volume, this he can show different kinds of benefits, and they can get different sorts of value creation in the ecosystem by lowering fees in one area and creating more economic activity, like lowering taxes to increase growth in a particular area, or giving, you know, different kinds of economic incentives for companies to locate in a particular place kanyi, is that how you would see it >> that's part of how i would see it, yes. the other thing i'm saying just to double down on that point is the public cloud to expand 14.6% over the years, which is unbelievablegrowth, and 14.6% cagr, unbelievable growth and the race to capture that market share is something that you are seeing play out in the price war and zurz azure is doing an amazing thing and now they are at 22% and amazon has been flat over that period of time with aws and i think google cloud realizing t

tyler, back to you >> thank you amid growing criticism over apple's app store dominance, the company its fees and directly on company websites that story is next >> announcer: and now the latest from tradingnation.cnbc.com and a word from our sponsor. >>> different sectors tend to do well during different periods of the economic cycle when the economy is expanding technology stocks have historically outperformed the broader market however, when the economy is contracting more defensive sectors such as utilities and consumer staples tend to outperform ♪ music ♪ ♪ dream, dream when you're feeling blue ♪ ♪ dream, dream that's the thing to do ♪ ♪ music ♪ when you see value in all directions, you add value in all directions. accenture. let there be change. >>> welcome back, everybody. apple in the news today. the first story is the company announces a major change to the app store, allowing some apps to guide you to web sites and they are visiting asian car marks to prepare for the production of an apple car steve, let's start with the app store changes, apparently affecting media apps in

. >> obviously they dominate when it comes to their app stores. you got to go to them. but there's a new law internationally, right. that could that put a dent in that. >> not internationally but south korea at this point in time. but more and more regulators are starting to look at their big companies that the google store pulled in 27 billion dollars in revenue last year. apple 0.67 billion inside their store. those are huge companies and themselves. and let's not forget, they also sell hardware and software and other services. i'm making a 30% cut in game. now, what's interesting about this payment angle that they're going after a company like i'm candy crush a game like candy crush. you and i are trying to get the last level. we're one move away. we want to spend another a canine on 3 more lives. apple gets $0.60 of that. they get 30%. same with google. yeah, you can do it while you're playing the game that law being proposed. is that you and i would have to quit out of the game, send an email or getting open other app store up. and maybe they can build another app

you can catch boom bus on demand on portable tv can be found at portable tv dot com on the apple app store and google apps or google play store as well. see you next me ah, ah, psychiatric drugs are essentials and millions of patients, or are they, they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work. the problem is, in the long term, they're mostly disastrous. suddenly stopping a drug can cause withdrawal symptoms more serious than the condition it was meant to treat instead of the beneficial effects of these different medicines ending up to something wonderful. very often they're harmful effects and up to something terrible. can pills so of all ills? or are we trying to mitigate life itself? i just think i was like i was just scared. i was just here a little girl, the 24. and like me didn't have to be so complicated look forward to talking to you all. that technology should work for people. a robot must obey the orders given it by human beings, accept where's the short or conflict with the 1st law show your identific

whatever revenue they do get through the app store through these means is pure profit, pretty much.ow dependent they are on active gamers in terms of app store revenue it could also be an excuse to hit apple, test whether this fact in breakout is real i always see apple as a bit of a stability play it's just this financial battleship that's very difficult to penetrate clearly a bit of concern that it may be slowly could compromise apple's, you know, core ecosystem franchise. >> apple not helping the down, as we go into the close. general motors and toyota, the latest automaker to get hit by the global chip shortage gm is maintaining its 2021 guidance overall toyota cutting the annual production target by 300,000 vehicles, weeks after announcing it would cut september product in japan by 40%. wells fargo is lowering the 2021-2022 outlook to reflect the worsening shortage however, the firm maintaining bullish views, and borg-warner, as its top picks charlie, also one of your favorite picks, i believe. >> absolutely. one of the things we believe in in investing, if there's a short-term

judge ordered apple to loosen control of its app store.hey launched the lawsuit after the game fortnite was removed from the app store for dodging revenue-sharing with the iphone maker. russian energy giant says construction of the pipeline beneath the baltic sea has been completed. the pipeline connecting russi with gmany will allow moscow to double russia's gas export and capacity to europe. critics say nord stream 2 will make europe too dependent on russian energy supplies. russia and its allies have begun massive military exercises. up to 200,000 soldiers are process up eating -- are participating in the drills, held in western russia and belarus. retention is growing in the region, with the ukrainian president, again warning and all that were with moscow is a possibility. -- war with moscow is a possibly. denmark lifted pandemic restrictions, the first member nation to do so. the credit high vaccination rate for the move but worn measures could come back if necessary. reaction, with both caution and optimism, as spaces are brought bac