far, the most active and influential secretary of commerce we have ever had.but that kind of expansion of his influence was not particularly, it wasn't easily in character with the kind of kulish program of debt reduction and so on. hoover was also on the relief, the debt commission, for renegotiation of deaths by european countries. and he was particularly interested in belgium's situation, my sense is that hoover was not a believer in extracting every time that the allies owe us from the war debts which was something like ten billion dollars. he privately been willing to make some compromises at one point, he said that some of this money should be set up a cultural exchange educational funds for people rather than just taking the money back. coolidge is attitude was they hired the money, didn't they? and that may be apocryphal but coolidge's attitude was all right i, think i'm fairly stating his position that basically the eyelids had more of this money and uncle sam he's the lender and he should receive what is properly do. hoover i think, might have been a

the secretary of commerce eagerly accepted. in 1925, coolidge took the presidential oath of office or a -- for a new term. no longer warren harding legacy, silent count was now chief executive in his own right. his priorities were not necessarily those of his secretary of commerce. prize goals were taxcutting, debt reduction and economy in government. conservative goals. the cabinet officer on whom he most relied to implement these was the secretary of the treasury, andrew mellon. as the economic boom known as coolidge prosperity took hold in the mid-1920's, the secretary of treasury's influence increased. this did not mean that hoover's influence quickly waned. in size and reputation and governmental appropriation, the department of commerce continued to grow. between 1921 and 1928, it almost doubled its congressional appropriation. in many areas, such as regulation of radio and promotion of commercial aviation and many other fields, hoover was in the forefront and remained there in government policy making. it was set of him

data centers with video conferencing, e commerce, so much data and all got to go somewhere. what's your take on equinix? >> buy let's go to chase in texas, chase. >> caller: what up, j-chill? >> i could take a few people down the other day i had to chief them a little what's going on? >> caller: hey, wanted to just give a big reminder to the listeners, please, please, please wear your masks. >> thank you >> caller: chill i know you like online retail. i like online retail we all like it as of late. i have owned this stock for a few months now and have got to see it double. it's an e commerce platform and has huge upside potential because they are thinking differently about the way online shopping should be done. >> all right >> caller: what is my play for this chinese surging stock -- >> it's red hot. pin du do, dou and i thank you r the kind comments and yes, wear a mask lisa in missouri lisa >> caller: cramer, thank you very much for taking my question. >> of course. >> caller: i have a question for you. i liked your opinion on prolodges. i'd like to start a position in th

it's been absolutely crazy for e-commerce and with that also for shipping. so what we're seeing is just given that everyone is staying at home, people have to order online to get whatever they need, so that's on the consumer side. and then on the business side, everyone who's been running a business previously that was more of an off line business is moving online for the first time. as they move online, every single online business needs to ship. so what we're building is a platform that powers shipping in the background. in both march and in april this week, we're looking every week at volumes that were the equivalent for black friday and cyber monday week last year, which are normally the highest volumes of the year. >> that's impressive indeed. have you seen any drop-off in that as some businesses continue to open? >> yeah. i think now that people are able to get out again in certain parts of the u.s., people are able to go back to shop in stores and we're seeing a little bit of a drop off there. however, i do think consumer behavior has changed fundamen

a huge change is taking place over at commerce bank and it wasn't long enough that commerce bank lost it's old ceo and decided that if he just stuck around a little bit longer he could have had his eye on the prize. >> that would have been a potential job for him. that's for sure. if you look at the current management he was also part of that management he would also not be the best fit given the strategy that was the say when the company wanted more profitability and more aggressive cost cutting and they're also not happy with the low profitability targets and what's looking on a return with more than 4% by 2023 so they have their own cost of capital. and then we have other investors that follow suit and also the ecb was arguing that this bank needs to improve profitability and push cost cutting even further. and then the unions are against that plan in a surprise prove. a surprise move late friday announced that he would plan on stepping down until the end of the year that most likely as soon as possible so we were waiting for a new strategy like stone where they can cut cost furthe

consumers have grown up in a world where e-commerce is available to them. the u.k. and u.s. to catch up on that front. our expectation is that some of those older generations will remain -- maintain use of those platforms. there will be some degree of normalization, at least in terms of the pace of growth. francine: what does that mean for some of the things that will need acceleration? there is also talk of an online sales tax. or onlinecompanies places going to be regulated and taxed more? luke: the risk to technology stocks, in particular in the u.s., is the risk of regulation. at this point, we don't have a good framework for digital, cross-border trade. even if we were to see some advancement in the narrative around that, i think it is unlikely we will get to a universal, global standard. that does not mean that the companies cannot do well in the event that we do see localized standards and taxation structures. if we are continuing to see growth and adoption, d consolidation of some of these industries, where you have dominant players who can really deliver that value

all change at commerce bank.lender looks to fill its top jobs as soon as this week in a bid to end a shareholder revolt. nejra: welcome to "bloomberg daybreak: europe." what a moving chinese equities in the session, manus. biggest move higher since february 2019, 16 months if i am doing my math right, but we are also seeing a lot of green on the screen elsewhere in equity markets and you start to wonder why, given that we did have a weaker day last week, the best game global stocks in a month, is it all about liquidity? manus: it is all about liquidity and the price of dollars. lowest in five years. the price of sterling. the lowest on record. a compression in the lending price in the eurozone market. it is about the velocity of money. that is something that is very much a risk. let's take a quick flash across these markets. s&p 500 driving higher. ripping upliterally the script. look at that. up 4.4 percent. up 7% last week. apparently, it is a very good bull market according to the chinese press section. have a

jonathan: the walmart ceo on the importance of the e-commerce channel.usly important given how many stores have been shut down. from new york this morning, alongside tom keene and lisa abramowicz, i'm jonathan era. unchanged in the s&p 500 -- i am jonathan ferro. unchanged in the s&p 500. we will cover earnings season. at the back of the hour, a conversation with andrew balls on pimco on a tremendous week ahead for the continent. tom: i hope you get to the united kingdom two year yield. for our american audience, negative yield in the united kingdom, and going ever more negative. jonathan: and trading inside japan just briefly. he exchange and a huge amount of uncertainty dragging down the front end worldwide. tom: interesting to see, and with red green on the screen. real turn to the market in the last hour. this will be fun. what is interesting about jason bazinet's work about citigroup's you have a headline that will grab you but what is required of jason bazinet is you have to read into the report. i did that the other day on a shopping call for amaz

we call it vr commerce.rs a lotot of unique experiences like virtual staff serving customers. as a business, it has great potential. >> his company plans to hold another event at the end of this year. far from slowing down, the coronavirus may actually be taking the brave new world of shopping to the next level. >> in this new w world of vr commerce, shops are no longer bound by geographical barriers, even whehen offering semi-real interactions. now they have access to potentially unlimited markets and opportunities, but retail isn't the only area where vr is breaking down physical barriers. as our next report shows, for the growing ranks of employees who are punching their time cards from home, virtual reality is helping to make remote work feel a little less remote. >> -- suburban tokyo. she and her colleagues work at an advertising firm. they clock in at 9:00 a.m. from various locatitions. >> translator: i can see myy tem members here. this is me. ththis person is in sigh tampa, and this guy over here is

our ports and waterway that is are so critical to commerce. and finally, they support our transit system upon which many americans depend daily. all these things are put at risk, mr. speaker, unless democrats and republicans work together. unfortunately, along with the unworkable approach taken in writing this package of bills, there are many partisan policy provision that is must come out before it can become -- provisions that must come out before it can become law. many are similar to the policies pushed through the house in recent months. considering the committee has had more than 100 hearings and briefings to make important funding decisions, it's disappointing that many of 2450es provisions -- these provisions seem to have been dictated from the top. a few examples, the bill jeopardizes our safety and security by allowing terrorists detained at guantanamo bay to be brought to u.s. soil. it also includes language that would prevent the united states from exercising the right to defend ourselves and our allies, such as israel. in a time w

despite $4 billion in covid costs, results were led by the covid fuelled commerce acceleration they grew over 50%, that was versus 20% last year aws advertising subscription segments were strong the guide was better as well we did raise a long term forecast price target to $4,000. demand signals are firing off across the board and we're also getting the margins despite significant investments. >> i mean let's hope this is a problem we have to deal with, but assuming a breakthrough in public health technology, medical technology, something not as dramatic as a vaccine but some their prapeutics. how much of it sticks? >> one thing they called out is growing the fulfillme menment infrastructure by 50%. this is an incredible signal for future demand. to start the year amazon had 275 million of fulfillment space over the last 20 years how do they add 140 million square feet in a calendar year that is bigger than their entire footprint. they got lucky or they made their luck the move to prime one day last year as demand rose. but as we got into 2020 i think they were saying that they had expec

see more ads that are going to have actual commerce embedded within them. facebook is absolutely enormous. i say, even if you don't see there being successful as a like i'm not as convinced that happened. if you actually have this happen by the adf adoption base, i think it's a huge upside for the business. >> michael lavine, thank you for anding about this trend taking on some of the daily news of the day. thank you. us, coming up rooftop solarest companies has become bigger. we'll hear all of the details from sun run cfo all of that coming up next. >> sunrun is set to become in solarerican rooftop market. this is about $1.5 billion of rival. both companies provide about 75% leasesresidential solar each quarter here in the u.s. to discuss what this deal means and the solar energy sector, we're joined by tom vonreichbauer. great to have you on the program. talk to me about what this deal means to you in terms of size and scope and scale to get you want to be? >> great to be here. mission it is create a run by the sun. run affordable, more reliable power. th

so the commerce clause was invoked. and that was a long journey also, because we had to get through not just the various cases during the reconstruction, but also during the new deal and finally to the 1964 civil rights act. so i think the main take-away from this is it didn't provide a judicial framework. what it did is, it provided a pathway for the legislature. and bradley looked at the law and interpreted the law pursuant to the way the legislature and the drafters of the amendment had actually drafted it. that eventually dictated that the commerce clause be used to pass the 1964 civil rights act. so i think the take-away is, if you want to change the law, what about the three branches and the place you change the law is in the legislature. in the first branch. >> thoughts. >> i take away from this case how seriously a wrong decided supreme court case can negatively effect the lives of americans on a day-to-day basis. it's a really long slog from 1883 to 1954 to brown versus board of education and then to 1964 to th

we hear about the latest e-commerce initiative from the verishop ceo. all that.loomberg. ♪ taylor: social shopping has long been a strategy from some of the chinese tech giants. the santa monica-based startup verishop posted a trend that will catch on in the u.s., using an e-commerce app the company says will set it apart from previous social shopping initiatives. joining us with more is the verishop ceo. how do you start to stand out from some of the other social commerce sites that have not been as successful? >> yes, and thank you for having. one of the most interesting things is when you are trying to build innovation to make sure that you deliver on the core experience first. when the iphone first came along, i was living in new york. i went to the apple store on 5th avenue and bought a new iphone and the first thing i did was call some because if i had to give up my old phone and get a completely new phone with a new carrier, i wanted to make sure the phone worked. companieslot of the forget the core thing that you need delivered the best customer and have

lou: the cardinal of commerce, tom donohue over at the chamber of commerce, sending this arrogant notethe president of the united states as he sues the president of the united states to reverse the pause on foreign work visas as we have 18 million people out of jobs. i mean, they're doing the bidding of the chinese at every, every turn. it's outrageous. you get the last quick word, if you will, mike. >> lou, i don't think our ceos and our businessmen can overwhelm the anger of the american people at the china virus. i think the chinese are misreading their ability to put pressure on president trump to do nothing. lou: yeah. well, we've got some ceos, for crying out loud, who are sending money off to various organizations without any apparent care about what is their agenda or what is their, what are their tactics and strategy. it is, it's a disconcerting time for all of us. dr. michael pillsbury, as always, good to see you. >>> up next, president trump's scheduled to take the podium at the white house briefing room this hour. we will bring that to you live. also the radical left contin

census director says federal law requires the secretary of commerce to report, quote, the total population, on both, of each state and it requires the president to transmit this information to congress. in the history of the census, no president has ever tried to manipulate the census count in this way. and to do the exact opposite of what the president is now trying to do. committed to counting every person regardless of citizenship or legal status under the rules of congress set in the census act of 1790. the decision to release this memo now appears designed to inflict maximum damage to the accuracy of the ongoing 2020s on this. in just two weeks, the census bureau will start visiting the homes of millions of people who've not yet responded to the census. with the fear and confusion and communities across the country and could leave many people to decide not to participate. this will not hurt communities that are already undercounted, underrepresented and underfunded. addressing the chaos caused by the president to know well drained of eligible resources from the census bureau which is

there's six committees on energy and commerce, all compete for slots. there's also a limited amount of -- as moving to august leadership, wanted to get legislation to the fourth so those will take precedence to being on each committee there in or subcommittee. it's made the normal operations of the committee more difficult but we are all learning this technology, using zoom and webex and other media to be able to conduct our hearings and so far we've been able to do it without too many glitches. >> do you see potential to use digital hearings moving forward based on these experiences? >> guest: i and may be kind of old school. i the fact we are in the hearing room with our colleagues. it's especially difficult during markups or contentious hearings to make sure when people want to be recognized or where there's a debate going on at least a little bit of it is, what i think is a healthy debate when it is being done on zoom with a bunch of frames and you're not sure who is yellow line is around their screen to know who was talking. it has its purpose and

there are six committees in the energy and commerce and there is also a limited amount of floor time as we move into the august recess and leadership wanting to get certain pieces of legislation to the floor so those will take precedent in depending on who's committee or subcommittee they are in. its normal operations and maybe more difficult but we are learning this technology using zoom and web acts and other medias to be able to conduct our hearings and so far we have been able to do it without too many glitches. >> do you see potential to use digital know not moving forward on the based on the experiences? >> guest: i am kind of old school but i like that were in the hearing room with our colleagues and it's especially difficult where we have contentious hearings to make sure that people want to be recognized whether it is a debate going on and when i think is a healthy debate when it is being done on zoom with a bunch of brains and you are not sure who is yelling to know it is them talking and so it has its purpose and obviously, given the situation we are in right now, it's pre

chamber of commerce. this was hosted by the u.s. chamber of commerce. >> good morning, everyone. i hope it is a happy friday in your home. welcome to a special edition of our path forward series. we are thrilled to welcome dr. anthony fauchi. -- he has conducted extensive research and worked to diagnose and treat infective diseases. advised 16 presidents. he is the winner of the national medal of science and the presidential medal of freedom, the highest civilian honor in the united states. we are grateful for his lifetime of a and particularly thankful for his candor and expertise and -- during this time here let me ask you for a broad overview of the pandemic. where are we now? dr. fauci: we are in a difficult situation. we have a large outbreak. as you probably know, there has been close to 140,000 deaths and we have several million infections. that is sobering news. there are some bright spots we need to capitalize on, namely areas of the country like the new york metropolitan area, which had been through a difficult time, probably worse than any other regional area of a big

chairman, i move that the fiscal year 2021 commerce justice and science appropriations bill be favorably reported to the full committee on house appropriatio appropriations. >> the question is on the motion. all those in favor say aye. those opposed no. and in the opinion of the chair the ayes have it and i ask unanimous content that the staff be permit today make technical and conforming changes to the bill and report just approved. seeing no objects, so ordered. a bit of housekeeping, please make sure you leave your materials at the table. thank you so much, ladies and gentlemen, and with that, this meeting stands adjourned. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] >> during the summer months reach out to your elected officials with c-span's congressional directory. it has the information you need to stay in touch with congress, federal agencies and state governors. order your copy on-line today at c-span store.org. >> to

and for us, luckily that's a reboost in e-commerce.s we started making masks it's been beneficial for our business and keeping us going and keeping our factories open and we've gotten hopefully to the other side of what's an uncertain time >> david, how do you feel about the demand for bambas. you make socks i would imagine with people working from home they're looking for more socks for their daily routine. if v you seen that to be true and what do you expect the demand picture to look like in the second half of the year? >> great question. there's a joke going around our virtual office that socks are the new shoes because people are inside all the time. we're 97% e-commerce so our team over the last seven years have been honing their skills on optimization throughout the entire funnel so when we saw advertisers pulling out of -- pulling their budgets back from a marketing perspective, we were able to lean in and really capture some of that demand next, obviously, there's been a huge shift of dollars from retail to online, and again,

hoover was a very aggressive secretary of commerce. he took that agency and really made it one that was very meaningful to a majority of americans. paul: 1928 is the year where roosevelt's political rear and hoover's -- career and hoover's's political career come in parallel. in the presidential election, hoover is a candidate. roosevelt runs for governor of new york, his return to politics after his isolation as he tried to recover from polio. we are still in the roaring 20's. the economy is great and everybody think the world is wonderful. when hoover becomes president, he has an agenda that doesn't last very long. what it was -- what was it like , inhe hoover administration 1929 when the stock market collapsed? thomas: hoover was aware there were systemic problems with the economy even before the market crashed. agriculture produced too much, which depressed prices. there was its own depression during the 1920's. 25% of the banks failed before the crash. it was a condition of too many banks with too few capital assets. when the mark

consumers have been turning to e-commerce.ligence talked about you facing higher costs associated with a shift towards more e-commerce shipments. talk to me about the impact on the business, the future potential of an increase in e-commerce. say i am positively surprised how well two of our [inaudible] we have found the right ways through technology. recipients up front when they can expect so we have very high first attempt deliveries. that helps us. the mix and match on the airplane is beneficial. business,r german pmp we have seen a significant decline in volume. -- wepensated for the have found the right ways to mitigate the extra costs we have for parcels. that's think to great process design and new technology we are using to inform people. finally, are terrific workforce. nejra: thank you so much for joining us. frank appel, we appreciate your time. coming up, the future of film and entertainment as the u.k. economy works its way out of the deepest recession in centuries. we see desperate to the ceo of the british film

president and ceo of the united states black chamber of commerce. in the former ceo and on the fisa small business and white house african-american leadership council. our next witnesses, chairwoman of the board of the united states hispanic chamber of commerce. carmen is also the president and ceo of sdi international corp. which he founded in 1992. our third witnesses karen kerrigan, president and ceo of the small business and entrepreneurship counsel. aaron has been appointed to numerous federal advisory boards including the national women's district council. u.s. direct business dialogue and the united states treasury taxpayer advisory. our final witness is janel rated president of an automotive group. she is the only second-generation african-american woman dealer in the country. janel also serves as the chair of the board of directors for the cincinnati branch of the federal reserve bank rate and witnesses who are reminded that your oral testimony will be limited to five minutes. at time will go off at the end of your time. i asked that you re

this is what the cohead of the british chambers of commerce said today.h, people are facing really tough choices. the coronavirusjob retention scheme which the government introduced quite early on in the crisis has really helped to save people's jobs and save livelihoods and has kept people employed over this difficult time. as businesses start to go back to work, they are seeing business picking up, which is great, but many of them have reduced capacity because of the safe working guidance they have had to introduce, and some of them are finding that their demand is not coming back as people are still not going out and behaving in the way that they did precrisis. so, as the retention scheme starts to cost people money from the beginning of august and comes to an end at the end of october, businesses right around the country are having to make these difficult choices about who they continue to employ. our data today, which we released in partnership with totaljobs, suggests that about a third of firms are looking to reduce their employee numbers over the

chamber of commerce.will ask why he was suing the trump administration. i will give you a head. it has to do with visas. yes i will give you a hint. it has to do with visas. ons is "balance of power" bloomberg television and radio. ♪ david: this is "balance of power" on bloomberg television and radio. i'm david westin. it is time for first word news. for that we go to mark crumpton. head of the world health organization is slamming secretary of state mike pompeo for what he calls untrue and unacceptable allegations. comments came in response to reports that secretary pompeo blamed the health agency chief and said that he was bought by china. the trump administration been critical of the who response to the coronavirus efforts. has ordered the united states to withdraw from the agency. the white house has backed off of its demand for a payroll tax holiday. steven mnuchin says it will not be in the coronavirus relief bill being put together by the administration and senate republicans. that could make it ea

first of all, e-commerce is a very large opportunity if you look at pre-covid-19, e-commerce was only 15% of the u.s. retail market i think over the next decade, it will be 50% to 60% the way we saw that digital advertising so as that means almost a trillion dollars will probably shift online over a few years. so i think it's a huge opportunity and it makes sense what walmart is doing and i think, you know, they're trying to drive convenience convenience is a very important factor for customers to shop on your site. >> what have you seen during the pandemic era normally startups are having such a hard time startups in retail but as someone in e-commerce, i think now is the time where people are spending more online. >> yeah. we saw healthy growth. for example, in april our revenue grew 30% these are month over month growth rates i think what we're trying to do and i saw your segment on levi's, i think brands are now really struggling to tell their stories to consumers you know, there is a significant shift had happening. and so what we're trying to do is create this platform to tell t

attorney more than two decades as the state's attorney general and his work in the senate on the commerce judicial committee, a recognized leader in the senate. congress woman schakowsky, from the great state of illinois, she chairs the consumer protection subcommittee. you served as the whip in the house leadership as well. thanks for joining us. we're also joined by nathanael smith, a canadian member of parliament. he is on the standing committee on industry science and technology. he has been demanding action on disinformation for quite some time. i'm going to ask our lawmakers to bear with me and allow me the timekeeper role here as i turned

it's called livee commerce and it's been gaining popularity during thehe pandndemic. interactive t than tv shopping. users comment and hosts respond in realtime while demonstrating products. >> this hair dye lasts just one day. i've tried it here and here. >> reporter: by marketing to people staying at home during the lockdown, the company saw sales skyrocket. >> translalator: we had brisk sales today soaring 20-fold during a live stream show. >> reporter: tencurrent is the driving force. it has developed a system so that 1.2 billion users of its we chat social media platform can easily sell online. live commerce has helped online sales jump more than tenfold in the past six months. >> translator: with 5g technology live commerce will become the norm, both for shopping and for businesess management. >> reporter: alibaba builtlt a cutting e edge facility in the eastern city of hang joy. researchers developed a system that uses artificial intelligence to analyze ct scans of lungs.s. the project leader says the system can detect early signs of covid-19 that even pcr test

an increase in e-commerce.se underlying business fundamentals are going to be important in the coming weeks. shery: you mentioned walmart, actuallyny you ashle like. tell us why you are confident about walmart and other companies like target? ann: i think over a long period of time, i have always thought the amazon model was one that was going to be very much at the forefront of reflecting increasing consumer trust and faith in purchasing online and amazon has had tremendous. what walmart has done through this crisis in remitting open has proven stability, supply chain certainty and able to serve the consumer through a very unsettling period. i think that will translate into brand loyalty with walmart plus or whatever subscription model. i think it will be positive in the same way target has proven it can supply the store experience combined with same-day delivery. do you worry about where valuations are, particularly when it comes to e-commerce stocks at the moment? is it really no other choice versus what the

thet from aws, i feel e-commerce business in general, investors are questioning the longevity of theact. how long can the growth rate continue? q3 guidance is showing at least for the next couple of months that that will be the case. taylor: i have a question on amazon. we are also getting alphabet. google cloud revenue coming in at about $3 billion. second quarter google advertising revenue at about -- bringing total revenue to $38 billion. we have learned they are finally starting to break out that youtube add revenue -- youtube ad revenue. 3.8 dollars.about acquisition costs for the second quarter, coming in at about $6.7 billion. we are lucky to have you on days like this to cover both. we know that you are desperately searching through this. within these numbers, what stands out to you? jitendra: i think, if you look across the board, even facebook, even some of the names like shop of five -- like shopify, particular from the e-commerce side of things. the shopify was shocking, more than double the expectations, which is telling you that the organic demand is shrinking. there is

it's commerce prayed upon.e 19th century donned, america found herself engaged in yet another struggle to preserve her right won by the war of independence. and it was during the war of 1812, during the defensive for henry, that frances scott key wrote the star-spangled banner. with the war of 1812 over, a new era of peace was born and in 1818, the pattern for the permanent flag was set. 13 horizontal red and white stripes, with a white star for every state, more yet to come, to be sad upon a blue field. on the day it first appeared, the stars and stripes have gone through 27 different changes. once, as southerners attempted to break away, the flag itself was split into. so, i thank myself in a new homeland, under a flag has strengthened its people across two centuries, in times of enormous growth and change and in times of trouble which have sat in the entire world. this is, today, as it always has been, a land of many peoples, all with one banner, each to worship in his own way, to aspire to self expression i

respects, isn some a huge e-commerce company like amazon. every other respect, completely different. it's core operations are in china. it has a very large cloud business, very large e-commerce business. very significant logistics business. it has become the leader in china with more than a trillion overdollars of sales and 700 million consumers. what it does internationally and particularly in the u.s. is still a mystery to most people because we don't have a platform in the u.s., so we are not here selling products the same way that an amazon or ebay or other e-commerce platforms would do. what we do is we sell tens of billions of u.s. dollars of great american products from brands, retailers, even farmers, to the chinese consumer directly. it is a business that continues to grow. particularly in the covid environment, the chinese consumer has become so important to many u.s. brands and small businesses because that is where they see growth and the ability to benefit. companiesf american say, there are a lot of chinese consumers, i would l

it was competing with an e-commerce investor and private equity consortium backed by blackstone. the push for a fourth economic stimulus package in the u.s., and hitting crunch time, the $2.9 trillion in initial

have they become associated with e-commerce in a way and has that taught them something? >> they certainly have as you know, they accept amazon returns in their stores. it's been a great traffic driver i think there is still a lot of room to go to convert that customer into a kohl's customer, and that's what they'll be focused on i think it's interesting that when they reopened their stores post-pandemic, the amazon desk went somewhere besides customer service to present some distance, and for that mom to walk into kohl's to bring her amazon product back, she'll have other things to look at she might want to pick up from kohl's >> i know that surfaces are not seen as a major vector of transmission for virus spread, but in general, people are just concerned about this type of thing. is that something that a retailer like kohl's can address in a way that appears to be better than others, whether it's organization, whether it's cleaning is there any strategy that you've seen here in retail that makes you more or less heartened when you look at these players >> look, they've

everything surveyed by the german british chamber of industry and commerce found that only 8 percent of businesses expect a comprehensive free trade agreement to be reached by the end of this year. earlier we spoke to one of the shopper at the british german chamber of commerce and we asked him on the worst case scenario of a new deal breaks it could mean for trades and the economy on both sides of the channel. so i think there will be disruption at the border there will be extra tariffs and quotas and we've seen the new customs tyra's from the u.k. so i think that will lead to various consumer price inflation issues in a lot of our areas that will lead to disruption in trade and will probably create another hit on the u.k.'s g.d.p. of more than 2 percent and that's what business are expecting for nodia scenario so i think about it's just really avoidable if we come to a deal and therefore it is important that both sides actually take all the energy and efforts to to come to. a brief look now at some of the other business stories making news. car sales in europe are expected to drop

earlier we spoke to one of the shopper of the british german chamber of commerce and we asked him on the worst case scenario of a new deal breaks it could mean for trades and the economy on both sides of the channel. so i think there will be disruption at the border there will be extra tariffs and quotas and we've seen the new customs tyra's from the u.k. so i think that will lead to various consumer price inflation issues and a lot of our yes it will lead to destruction and trade and will probably create another hit on the u.k.'s g.d.p. of more than 2 percent and that's more business than i expected for nokia scenario so i think that it's just really avoidable if we come to a deal and therefore it is important that both sides actually take all the energy and efforts to to come to. a brief look now at some of the other business stories making news. consuls in europe are expected to drop 25 percent this year compared to last the projection comes from germany c.d.a. and automobile sector lobby group production cuts and supply chain disruptions caused by the coronavirus have dealt a hea

i'm joined by adam marshall, director general of the british chambers of commerce. i'm now being told that in fact we haven't got him, he hasjust disappeared from our screen. we will come back to him if we can but let's move on. the prime minister also spoke of preparations for a possible second wave of coronavirus this winter, confirming that the nhs in england will get an extra £3 billion of funding. scotland, wales, and northern ireland will also receive additional money. it follows warnings earlier this week that without counter measures, a second wave could lead to 120,000 covid—i9 deaths in uk hospitals this winter. our health correspondent dominic hughes has more. as life begins to return to something like normality, at the height of summer, thoughts are turning to winter and the challenges that will bring. as we approach winter, we will need to go further, not least as many more people will show covid—like symptoms as a result of seasonal illnesses, and therefore require a test.

host: congressman larry buschon is a member of the health committee on the energy and commerce panel. our phone lines are as usual, for democrats (202) 748-8000. for republicans (202) 748-8001. for independents (202) 748-8002. he will be with us for about the next 25 minutes, until the house gavels and to begin -- gavels in to begin their workday. in,ressman, as viewers call when it comes to federal dollars do you think there is reason for more federal dollars to go out in the form of another round of stimulus for americans? guest: there are number of areas we need to work on. states and local governments have substantial shortfalls of resources based on covid.

e-commerce in china the same way as that had happened here, when they shut down, that was the foremost way that people were doing business, it's been the foremost way anyhow but even more so. but there is a look at what j.d. has done during that same time period i'm mentioning it this morning -- i know. it's funny, did they take market share? it's a little higher end some of their somebody somebody will deliver you in a nice uniform your apple phone, back to apple, right to why you are home when you order it on j.d. but there could be more buying coming into baba shares, some are anticipating due to something called the hk southbound connect, that's the channel through which mainland

wayfair is not the only e-commerce stock taking off.ce the march lows wayfair joins etsy, stitch fix and mover. you come at this from a different per speckive daniel, you get to go first. you see these stocks as a great sand box for traders you don't think that the height or the power of the moves in these stocks is disqualifying. explain why not. >> because the hype is exactly what makes them great especially for short term momentum traders like myself. all of these tickers have a lot of attention on them because of the pandemic consumer behaviors changing in all of that. my favorite part of them is they have high short interest and right up near the highs where the short sellers are going to have to cover. imagine how the short serls all and all these tickers feel the higher these things go, the more likely the short sellers are to cover for that reason, i love these for buying delta 70 calls, 30 days out especially when they close up at the highs on the day of high volume >> you would play these stocks through the options, not necess

one of the great things about the energy and commerce committee in the last federal congress, the numberf bills that have come out of our committee in a bipartisan manner, i believe in the last theress, i think 93% of bills that came out of our committee were bipartisan. we need to work together to make sure that we have a good piece of legislation because we have to be talking to each other to make sure it gets done. hown, it is not cheap and we are going to get it done, so when you are looking at the spectrum of options out there, how we might be able to utilize funds to help get broadband across the country. sam: of course. in that same regard, when it comes to funding, the chairman from the fcc has called on congress to further fund the keep americans connected pledge so companies can continue to allow customers who have been impacted by the economic upheaval of the pandemic to be able to keep their internet service and not risk termination. what are the odds that congress will take up pai's call? rep. latta: i commend the chairman for getting out there. when you look at the hundreds

we saw an acceleration in our e-commerce business.d integrating the backends very quickly, doing shared fulfillment, shared technology. our plan was when we started that the jet brand name would be used in more affluent markets of urban markets, younger customers, and walmart will be the lion's share. what we have found is that walmart is working everywhere. it does not matter where you live. been adding so many brand names to walmart.com that customers have accepted that brand. now we just don't need to put the marketing dollars behind supporting a second brand. david: we talked earlier -- and you carry around i guess on your portable phone a list of the top 10 retailers in every decade over the last century or so. in the early part of last century, sears was the leading retailer for much of the century. your point is that retailers tend to go out of business and they have to be very nimble. what do you do to make sure you are not out of the top 10 list at some point? doug: part of the dna here that we inherited from sam walton is dn