22
22
tv
eye 22
favorite 0
quote 0
have finance kind of trolling coming out with their own stable client project and then venus to facebook libra so unlike social media company at heart trying to scrap together block chain team finance has been doing this from day one so why isn't the key differences between libra and venus. so i would look at on the libra side i would break it down into 3 categories there's the banks the interest in the monetary policy on the banking side what's very interesting is facebook leverage does not have any banking partners and this is actually a very big concern with the association the reason for this is that banks understand the k y c regulation and the threats that this poses to their business in relation to major fines that could happen from violations of these rules on the interest on what you see based on the interest from user deposit is that they actually don't go to the users under facebook model but they actually go to the association itself and to the members of that association and so that is another problem with that set up on the monetary policy side one of the concerns is that faceboo
have finance kind of trolling coming out with their own stable client project and then venus to facebook libra so unlike social media company at heart trying to scrap together block chain team finance has been doing this from day one so why isn't the key differences between libra and venus. so i would look at on the libra side i would break it down into 3 categories there's the banks the interest in the monetary policy on the banking side what's very interesting is facebook leverage does not...
28
28
tv
eye 28
favorite 0
quote 0
attracting a lot of unwanted attention so you have france value to walk libra and european privacy regulators now questioning facebook's unchecked power collecting both personal and financial information so now the companies who were previously supportive a libra they don't even want to be publicly associate with the project any more so is this the beginning of the end for libor or will they continue to move forward. so i would say that this is not the and for libra there is still a lot of potential with what libor is doing but they're definitely making a lot of mistakes and so it is concerning when you see companies like pay pal deciding to leave and actually the statement that came out from libor is association targeting pay pal said it's good to know of this lack of commitment now rather than later and it doesn't acknowledge the problems that facebook libras made and risks that they're adding on to their partners with their lack of a comprehensive plan you also see with the french regulators the sentiment echoed about the threats to national sovereignty. p b o c n china also had very similar concerns leading to the
attracting a lot of unwanted attention so you have france value to walk libra and european privacy regulators now questioning facebook's unchecked power collecting both personal and financial information so now the companies who were previously supportive a libra they don't even want to be publicly associate with the project any more so is this the beginning of the end for libor or will they continue to move forward. so i would say that this is not the and for libra there is still a lot of...
31
31
Oct 8, 2019
10/19
by
BLOOMBERG
tv
eye 31
favorite 0
quote 0
coming up, facebook's libra continues to face hurdles over regulation. it is finding itself in a tough position with partnerships. we discuss why next. this is bloomberg. ♪ taylor: facebook skeptics now have derivatives to battle whether libra will meet its target launch date. coinflex, the crypto futures exchange, is offering derivatives that payout based on the likelihood libra will be operational by the end of 2020. the initial price equates to a 30% chance of the cryptocurrency meeting that timeline. the ceo spoke with bloomberg earlier. take a listen. mark: we are really excited about this futures contract because it gives the market a way to really price the odds of this event occurring. it's obviously to physically deliver libra, and in the case of nondelivery by facebook, it settles at zero so it gives the market a way to say it is likely, unlikely. respond to news events and give clarity to facebook's and libra's partners. >> why so pessimistic? why only get 30% chance for december 2020? mark: ultimately, we will let the market decide on this on
coming up, facebook's libra continues to face hurdles over regulation. it is finding itself in a tough position with partnerships. we discuss why next. this is bloomberg. ♪ taylor: facebook skeptics now have derivatives to battle whether libra will meet its target launch date. coinflex, the crypto futures exchange, is offering derivatives that payout based on the likelihood libra will be operational by the end of 2020. the initial price equates to a 30% chance of the cryptocurrency meeting...
35
35
Oct 14, 2019
10/19
by
FBC
tv
eye 35
favorite 0
quote 0
nike setting records, but is facebook libra stalling at the gate? take a look at the picture on your screen. okay? what do you see? is there really that much of a difference between either of these logos? we will tell you why this image is creating yet another stumbling block on what's about to become an all-out facebook crypto pile-on. the claman countdown is coming right back. ♪ sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ to the wait did frowe just win-ners. prouders everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. call, click, or visit a st
nike setting records, but is facebook libra stalling at the gate? take a look at the picture on your screen. okay? what do you see? is there really that much of a difference between either of these logos? we will tell you why this image is creating yet another stumbling block on what's about to become an all-out facebook crypto pile-on. the claman countdown is coming right back. ♪ sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable...
31
31
Oct 7, 2019
10/19
by
BLOOMBERG
tv
eye 31
favorite 0
quote 0
facebook on this new derivative product? you could bet against or make a market bet on the timing when libra will be launched. is not great optics. if you are facebook or any of these partners, here you are working to get something to market. meanwhile, you have this storyline and this company that is actually taking bets that you are going to fail, essentially, not hold up your end of the bargain, your promise it will come in 2020. that's got to feel frustrating. i think there is a realistic chance libra does not come in 2020. we have seen so many regulatory obstacles show up that i don't think anybody necessarily anticipated six month ago. the idea that people are potentially making money on the fact you are struggling, it does not look great. taylor: paypal has confirmed it is pulling out. what is your take from that? kurt: also not good. it is one partner of many, so i will say as far as we know, paypal is the only one of the original 28 libra association members that are leaving. paypal was one of the most well-known and they are a payments company. they understand a little bit about what facebook and th
facebook on this new derivative product? you could bet against or make a market bet on the timing when libra will be launched. is not great optics. if you are facebook or any of these partners, here you are working to get something to market. meanwhile, you have this storyline and this company that is actually taking bets that you are going to fail, essentially, not hold up your end of the bargain, your promise it will come in 2020. that's got to feel frustrating. i think there is a realistic...
166
166
Oct 24, 2019
10/19
by
BLOOMBERG
tv
eye 166
favorite 0
quote 0
he defended plans for the libra facebook cryptocurrency. >> this project is too big for one company to why we set up this independent libra association with other companies and nonprofits. it is a complex project. and it is risky. google says it has built a quantum computer that performed a calculation into's -- and 200 seconds that would take the fastest conventional supercomputers about 2000 years. quantum computers rely on qubits, which can be both zero and one at the same time. however, ibm researchers have disputed whether google has really achieved something normal computers cannot. global news, 24 hours a day on air, on tictoc and twitter, powered by more than 2700 journalists and analysts in over 120 countries. ritika gupta. this is bloomberg. markets, positive news from the s&p 500 march above 3000 in the overnight session, pretty positive earnings results out overall. let's get more on what we are watching in this asia session. our bloomberg reporter joins us from singapore where there has been busy news, is gdp seenighed, because we have the cost be when it comes to semicond
he defended plans for the libra facebook cryptocurrency. >> this project is too big for one company to why we set up this independent libra association with other companies and nonprofits. it is a complex project. and it is risky. google says it has built a quantum computer that performed a calculation into's -- and 200 seconds that would take the fastest conventional supercomputers about 2000 years. quantum computers rely on qubits, which can be both zero and one at the same time....
52
52
Oct 15, 2019
10/19
by
CNBC
tv
eye 52
favorite 0
quote 0
the main thing is the financial partners dropped out so far. >> michael, do you think facebook needs libraeed? >> no. facebook will be just fine that's an important question facebook will be just fine i think they have a vision if you're already there, you should be able to move money like you move other bits. conceptually i agree i don't believe in centralized version of facebook libra vision i also don't think other things i have come to learn about the libra program from public sources, i don't think it needs libra to succeed facebook will push on this hard, you may see a payment system that starts in certain parts of the world. i think it will come to pass i don't know if it will be as global as its vision, appetite but facebook is a force to be reckoned with, i think they're going to make something happen whether the government wants it or not. >> the thing i don't understand, why did facebook not launch it as facebook credit 2.0 why go out with all of these partners, already in the line of fire with regulators, already in trouble on every continent and really stirred it up taking on
the main thing is the financial partners dropped out so far. >> michael, do you think facebook needs libraeed? >> no. facebook will be just fine that's an important question facebook will be just fine i think they have a vision if you're already there, you should be able to move money like you move other bits. conceptually i agree i don't believe in centralized version of facebook libra vision i also don't think other things i have come to learn about the libra program from public...
39
39
tv
eye 39
favorite 0
quote 0
mastercard and e-bay have all backed out of facebook's libra cryptocurrency plans it's a major blow to the project as it faces headwinds from regulators payment companies strike join the defectors on friday following pay pal which backed out last week told the wall street journal it could rejoin the project if it won regulatory approval governments have vowed to put the brakes on libra citing consumer risk and the challenge their monetary sovereignty. over the africa he's risen to political stardom on the continent and on friday he received a 21000 nobel peace prize for his role as a unifier ethiopian prime minister abi ahmed made peace with neighboring eritrea thus ending one of africa's longest running conflicts within ethiopia obvious known for rapid economic reforms and getting the country back on its feet after decades of war and poverty. since becoming ethiopian prime minister in april 28th seen as being hailed as a visionary reformer but analysts fret that his policies are too much too fast for the political old and at the same time too little too late for the country's angry yo
mastercard and e-bay have all backed out of facebook's libra cryptocurrency plans it's a major blow to the project as it faces headwinds from regulators payment companies strike join the defectors on friday following pay pal which backed out last week told the wall street journal it could rejoin the project if it won regulatory approval governments have vowed to put the brakes on libra citing consumer risk and the challenge their monetary sovereignty. over the africa he's risen to political...
86
86
Oct 25, 2019
10/19
by
CSPAN2
tv
eye 86
favorite 0
quote 0
>> your company, facebook, to be involved in libra. what is the end game for you to realize a benefit from this? >> congressman, we build some of the most widely used messaging services around the world, what's app and facebook messenger. the vision here is to make it so that people can send money to each other as easy and securely and simply as it is to send a text message. i think sending money would be a very useful utility to add for people around the world in addition to the messaging products we have. >> thank you very much. >> gentleman from missouri, mr. clay, who is also the chair for the subcommittee on housing, community development, and insurance, is recognized for five minutes. >> thank you, madame chair. mr. zuckerberg, the housing rights initiative, d.c.-based watchdog group, and a grieved woman, recently filed complaints in d.c., in maryland, against seven major housing companies who are accused of using facebook's ad targeting tools to deny respective tenants the ability to see housing ads based on their age, which is a
>> your company, facebook, to be involved in libra. what is the end game for you to realize a benefit from this? >> congressman, we build some of the most widely used messaging services around the world, what's app and facebook messenger. the vision here is to make it so that people can send money to each other as easy and securely and simply as it is to send a text message. i think sending money would be a very useful utility to add for people around the world in addition to the...
54
54
Oct 25, 2019
10/19
by
CSPAN2
tv
eye 54
favorite 0
quote 0
libra. will facebook accept libra as payment for advertisements on its site? >> i imagine if the project proceeds to that stage we would do that but we haven't developed a full set of policies where it will hook into different parts of the system. the priority is to help the libra association and make sure calibra is a subsidiary and can have system to comply with all regulations and secure regulatory approval. >> you understand what will be a collective concern, using libra to buy ads on facebook. and in so doing, potential challenges we face relative to our electoral law. >> i can assure you we are not going to allow any weakness in the system that requires verification of people's government. >> on the subject of verification, as facebook, i would love to hear your thoughts whether facebook has considerable would consider verifying its users so in transactions as we consider what will be a revolutionary initiative on calibra and libra to assure accounts are verifiable. and if not why not? >> this is an area we are going to do a lot more in years to come. we
libra. will facebook accept libra as payment for advertisements on its site? >> i imagine if the project proceeds to that stage we would do that but we haven't developed a full set of policies where it will hook into different parts of the system. the priority is to help the libra association and make sure calibra is a subsidiary and can have system to comply with all regulations and secure regulatory approval. >> you understand what will be a collective concern, using libra to buy...
35
35
Oct 4, 2019
10/19
by
BLOOMBERG
tv
eye 35
favorite 0
quote 0
facebook said friday afternoon it decided to forego participation in libra and focus on inventing itsg -- advancing its existing m ission. paypal was one of the original 238 members of the facebook-led initiative. several members are wavering whether to fully embrace the effort. no comment friday evening from facebook. announcedmpany brex its new product, brex cash. it allows customers to pay in one system, earn rewards and 1.6% interest. o,ining me is brex co-ce henrique dubugras. thank you for joining me. why do you think this is the right system, combining cash, credit, and savings in one? henrique: we tried to assault all of the financial problems of our customers. pay,tter how you want to you can do it in one single place. banks traditionally separate between checking and savings accounts, so you earn less on your interest as a whole. brex simplified it into an account that earns 1.6% yield. there is no competition of having one account that does not earn. it is 1.6% of the time. >> how are you making money? henrique: we invest the funds in money market funds, from which we gain
facebook said friday afternoon it decided to forego participation in libra and focus on inventing itsg -- advancing its existing m ission. paypal was one of the original 238 members of the facebook-led initiative. several members are wavering whether to fully embrace the effort. no comment friday evening from facebook. announcedmpany brex its new product, brex cash. it allows customers to pay in one system, earn rewards and 1.6% interest. o,ining me is brex co-ce henrique dubugras. thank you...
44
44
Oct 23, 2019
10/19
by
CNBC
tv
eye 44
favorite 0
quote 0
he's not running libra he is running calibra, which is facebook's payment subsidiary. but we are looking for -- the libra association is recruiting an independent director and david is not even on the search committee for that. >> okay. so here's -- i asked him the question, because it had been put forward that switzerland was where you were going to domicile this or the association was going to domicile. he had said that he had been talking to the swiss regulators. the swiss regulators said that he hadn't been talking to them and that the association hadn't been talking to them so i'd like you to clarify that. have you been talking to the swiss regulators >> congressman, yes. the misunderstanding was i believe that he and the team had been working with the primary swiss financial regulator, finma, and now we are also working with the data regulator, which is going to be relevant to this project. >> you say you worked with 30 different jurisdictions in examining this can you provide us with a list of the regulators that you have talked to? >> congressman, i can get back
he's not running libra he is running calibra, which is facebook's payment subsidiary. but we are looking for -- the libra association is recruiting an independent director and david is not even on the search committee for that. >> okay. so here's -- i asked him the question, because it had been put forward that switzerland was where you were going to domicile this or the association was going to domicile. he had said that he had been talking to the swiss regulators. the swiss regulators...
40
40
Oct 20, 2019
10/19
by
BLOOMBERG
tv
eye 40
favorite 0
quote 0
facebook's head of libra tuesday.erday, we had our inaugural council meeting in geneva and it was a really awesome moment where 21 companies came together, not only companies, social impact partners. and started working on not only establishing a governance model for the association, but also distributed different roles. a board was elected. i was lucky enough to be elected to the board with four other amazing individuals that i am really looking forward to working with. and the big change is that fundamentally, yesterday, this project moved from being facebook led to being led by this association of which we are one of 21 members -- and in the future, one of 100. you know, one of five board members. really looking forward to the next stages here. it was great to feel the passion and the energy in the room and the commitment from all of these parties that are now really going to work on trying to change the status quo for people all around the world when it comes to access and cost of financial services. kurt: when yo
facebook's head of libra tuesday.erday, we had our inaugural council meeting in geneva and it was a really awesome moment where 21 companies came together, not only companies, social impact partners. and started working on not only establishing a governance model for the association, but also distributed different roles. a board was elected. i was lucky enough to be elected to the board with four other amazing individuals that i am really looking forward to working with. and the big change is...
99
99
Oct 14, 2019
10/19
by
KGO
tv
eye 99
favorite 0
quote 0
. >>> and facebook's cryptocurrency libra may be doomed after key partners pull out.ere's this morning's tech bites. >>> fortnite goes down a black hole. >> the wildly popular online game became unplayable sunday after an explosive event that ended with a black hole on the screen. fortnite's twitter account was wiped clean. a statement from playstation assures fans the game will be back. >>> facebook's cryptocurrency libra seems to be on life support. >> the world's leading economy says libra must not go ahead until facebook proves it's safe, secure and doesn't pose a risk to the global financial system. mastercard, visa and pay pal backed out >>> and pope francis apparently didn't know #saints was part of the football team saints. >> what. >> whatever it takes. a little blessing never hurt anybody. >>> abc 7 news is committed to building a better bay area. one of the issues we're looking for solutions to is recycling. coming up next, the help on the way from the state as recycling centers close. >>> to tax or not to tax. the decision voters in the north bay may face
. >>> and facebook's cryptocurrency libra may be doomed after key partners pull out.ere's this morning's tech bites. >>> fortnite goes down a black hole. >> the wildly popular online game became unplayable sunday after an explosive event that ended with a black hole on the screen. fortnite's twitter account was wiped clean. a statement from playstation assures fans the game will be back. >>> facebook's cryptocurrency libra seems to be on life support. >>...
71
71
Oct 24, 2019
10/19
by
CSPAN2
tv
eye 71
favorite 0
quote 0
's and now moving to libra will facebook accept libra as payment for advertisements on its site quick. >> i imagine if it proceeds to that stage we would do that. but we have not developed the full set ofth policies or where that goes into different parts of our system prick of the priority right now is to help the libra associationdi to make sure thei subsidiary can design a system to comply with all regulations and secure regulatory approval. >> so what is a collective concern if you can use libra to buy ads onvall facebook and then you can be anonymous so the potential challenge that we fac face. >> i can assure you we will not allow any weakness to enter into the system that requires verification of people's government ids to buy political ads. >> on the subject verificatio verification, i would love to hear your o thoughts if facebook would consider verifying its users so the transactions that we consider what will be a revolutionary initiative of libra to assure that they accounts are verifiable anquick. >> this is an area where i think we will do a lot more in the years to come
's and now moving to libra will facebook accept libra as payment for advertisements on its site quick. >> i imagine if it proceeds to that stage we would do that. but we have not developed the full set ofth policies or where that goes into different parts of our system prick of the priority right now is to help the libra associationdi to make sure thei subsidiary can design a system to comply with all regulations and secure regulatory approval. >> so what is a collective concern if...
115
115
Oct 23, 2019
10/19
by
CSPAN3
tv
eye 115
favorite 0
quote 0
>> your company, facebook, to be involved in libra. what is the end game for you to realize a benefit from this? >> congressman, we build some of the most widely used messaging services around the world, what's app and facebook messenger. the vision here is to make it so that people can send money to each other as easy and securely and simply as it is to send a text message. i think sending money would be a very useful utility to add for people around the world in addition to the messaging products we have. >> thank you very much. >> gentleman from missouri, mr. clay, who is also the chair for the subcommittee on housing, community development, and insurance, is recognized for five minutes. >> thank you, madame chair. mr. zuckerberg, the housing rights initiative, d.c.-based watchdog group, and a grieved woman, recently filed complaints in d.c., in maryland, against seven major housing companies who are accused of using facebook's ad targeting tools to deny respective tenants the ability to see housing ads based on their age, which is a
>> your company, facebook, to be involved in libra. what is the end game for you to realize a benefit from this? >> congressman, we build some of the most widely used messaging services around the world, what's app and facebook messenger. the vision here is to make it so that people can send money to each other as easy and securely and simply as it is to send a text message. i think sending money would be a very useful utility to add for people around the world in addition to the...
28
28
Oct 22, 2019
10/19
by
BLOOMBERG
tv
eye 28
favorite 0
quote 0
and, libra drilling. facebookeo mark zuckerberg is anticipated to face lawmaker questions on the controversial cryptocurrency on wednesday. we cover what to expect. first, our top story. in latel as much as 10% trading after reporting third-quarter earnings. revenue and user growth beat analyst estimates. it has been boosted by an increase in downloads to the revamped android version. questions remain about long-term monetization. someone fromng in bloomberg intelligence. i have a chart here that i am showing in my terminal. seems like those daily active users knocked it out of the park. were prettys strong. q4 guidance fell short. the stock is up 154% year to date. evaluation, to sustain that valuation level, it fell short. the user number is the hardest one to really beat. everything else is in their control. monetization, cut costs if they want, but the user growth is the harder metric. the fact that they are projecting better than expected user growth in 4q as well, it is showing that they are getting results
and, libra drilling. facebookeo mark zuckerberg is anticipated to face lawmaker questions on the controversial cryptocurrency on wednesday. we cover what to expect. first, our top story. in latel as much as 10% trading after reporting third-quarter earnings. revenue and user growth beat analyst estimates. it has been boosted by an increase in downloads to the revamped android version. questions remain about long-term monetization. someone fromng in bloomberg intelligence. i have a chart here...
21
21
tv
eye 21
favorite 0
quote 0
further from the planned digital token would bear similar it aries to facebook libra further feeling the technology arm race between china and the us block change has the potential in the technology arm race between china and the us law change has the potential to disrupt the whole financial landscape as the current system has failed the world time and time tool to disrupt the whole financial landscape as the current system has failed the world time and time again when the control and management of finance centralized entities veers off climb again when the control and management of finance centralized entities veers off course it has very real effects on people's lives you get disasters such as the greek course it has very real effects on people's lives you get disasters such as the greek debt crisis the venezuelan hyperinflation crisis the turkey currency crisis and most recently debt crisis the venezuelan hyperinflation crisis the turkey currency crisis and most recently argentina as an teen default throughout the periods of hyperinflation and me argentina as an teen default throu
further from the planned digital token would bear similar it aries to facebook libra further feeling the technology arm race between china and the us block change has the potential in the technology arm race between china and the us law change has the potential to disrupt the whole financial landscape as the current system has failed the world time and time tool to disrupt the whole financial landscape as the current system has failed the world time and time again when the control and...
47
47
Oct 24, 2019
10/19
by
BLOOMBERG
tv
eye 47
favorite 0
quote 0
he defended plans for facebook's libra cryptocurrency.project is too anyone company, which is why we set up an independent association with other companies and nonprofit. it is a complex project, and risky. singapore's economy may be a few quarters away from a recovery, that is the view of the central bank chief. in an exclusive interview, the monetary authorities said his baseline view is the current cycle should be bottoming out toward the end of the year into next year. he says that the client trade and manufacturing has not spread to other sectors. be that every slowdown , every risk or threat on the horizon leads to losing monetary policy. fiscal policy has a strong role to play, and that has not been sufficiently addressed. >> parts of no the california have gone dark in the first stage of a massive blackout that could leave 1.5 million people without power. pg&e is cutting service to customers to keep its power lines from sparking wildfires among high winds. the blackout will spread to other parts of the san francisco a area. south
he defended plans for facebook's libra cryptocurrency.project is too anyone company, which is why we set up an independent association with other companies and nonprofit. it is a complex project, and risky. singapore's economy may be a few quarters away from a recovery, that is the view of the central bank chief. in an exclusive interview, the monetary authorities said his baseline view is the current cycle should be bottoming out toward the end of the year into next year. he says that the...
46
46
Oct 23, 2019
10/19
by
BLOOMBERG
tv
eye 46
favorite 0
quote 0
and, libra grilling. facebookeo mark zuckerberg is anticipated to face lawmaker questions on the social network's controversial cryptocurrency on wednesday. we cover what to expect. first, our top story. snap fell as much as 10% in late trading after reporting third-quarter earnings. the company reported revenue and user growth beating analyst estimates. it has been boosted by an increase in downloads to the revamped android version. but questions remain about long-term monetization. to break it down for us, i want to bring in jitendra waral from bloomberg intelligence. first let's talk about the third quarter, daily active users. i have a chart here that i am showing in my terminal. seems like those daily active users knocked it out of the park. jitendra: q3 numbers were pretty strong. it is the q4 guidance that fell short. looking at the backdrop here, the stock is up 154% year to date. the valuation, to sustain that valuation, the expectation was stronger guidance. but the user number is the hardest one to real
and, libra grilling. facebookeo mark zuckerberg is anticipated to face lawmaker questions on the social network's controversial cryptocurrency on wednesday. we cover what to expect. first, our top story. snap fell as much as 10% in late trading after reporting third-quarter earnings. the company reported revenue and user growth beating analyst estimates. it has been boosted by an increase in downloads to the revamped android version. but questions remain about long-term monetization. to break...
128
128
tv
eye 128
favorite 0
quote 0
cheryl: facebook's libra project could be in trouble. treet journal says visa mastercard and other partners in facebook's digital currency are having secretary thoughts about having this -- second thoughts about having this venture with facebook. the company is running into opposition from u.s. and european government officials over privacy concerns and possible exploitation of libra by criminals around the world. sources say companies working with facebook on libra won't openly support the project to avoid scrutiny from regulators. more than two dozen libra backers are set to meet in washington tomorrow so expect more news on this developing story. stock in the premarket, facebook down almost 1% right you now. lauren: the union rejected general motors' latest contract offer to end the walkout which is in the third week and a has cost gm and estimated $1 billion. the union has put a new counter proposal on the table but a part shortage due to the strike is forcing gm to temporarily close a plant in mexico which makes the pickups, which ca
cheryl: facebook's libra project could be in trouble. treet journal says visa mastercard and other partners in facebook's digital currency are having secretary thoughts about having this -- second thoughts about having this venture with facebook. the company is running into opposition from u.s. and european government officials over privacy concerns and possible exploitation of libra by criminals around the world. sources say companies working with facebook on libra won't openly support the...
24
24
Oct 20, 2019
10/19
by
BLOOMBERG
tv
eye 24
favorite 0
quote 0
facebook. >> ok. taylor: there's been a lot of rumors this week and talks about libra, if the cryptocurrency works, ifdoesn't. is facebook doing the right strategy by going out on these new ventures or should they stick to the core business? >> i don't know. you are asking a good question. libra, look, they have these wonderful assets. one is facebook messenger and the other is whatsapp. these are the two most popular messaging applications in the world, and right now they generate about zero in revenue for the company. could they monetize it through advertising? they are pretty good at doing that, so they should probably try that first. could they create a wallet around it? yes. does it have to be a crypto-financed wallet? i don't know. that was always the question in my mind. why do we have to go libra, but i think it's too early to call whether that was the right move or not. if they think about monetizing it through a wallet, i think it is a very good idea. taylor: as you assess the earnings landscape, what is your top picks this season? >> facebook is the most interesting because i know we just d
facebook. >> ok. taylor: there's been a lot of rumors this week and talks about libra, if the cryptocurrency works, ifdoesn't. is facebook doing the right strategy by going out on these new ventures or should they stick to the core business? >> i don't know. you are asking a good question. libra, look, they have these wonderful assets. one is facebook messenger and the other is whatsapp. these are the two most popular messaging applications in the world, and right now they generate...
36
36
Oct 23, 2019
10/19
by
BLOOMBERG
tv
eye 36
favorite 0
quote 1
lawmakers are coming from in terms of how they feel about facebook and probably how they feel about mark zuckerberg as an individual. ?oes that taint libran't think it does. if anything, right now, facebook is perceived as being on the side of republicans. the absolutism of free speech he has been pronouncing, the speech at georgetown last week and "the wall street journal" op-ed and other places basically serves the interest of people who would more or less deceptive political advertising which i think it is generally acknowledged is more likely to happen from the right at the moment worldwide than from the center or the left. democrats are not happy with facebook right now. he got more favorable treatment in the committee from republicans than democrats, i would say. let's move on from facebook. we are looking at amazon earnings by the end of the week. what are your expectations, particularly as we keep going back to the consumer as the bright spot in the economy? >> i think amazon is the last place u.s. consumers are going to stop spending on. even if u.s. consuming were to slow significantly, amazon still more or less is perceived by
lawmakers are coming from in terms of how they feel about facebook and probably how they feel about mark zuckerberg as an individual. ?oes that taint libran't think it does. if anything, right now, facebook is perceived as being on the side of republicans. the absolutism of free speech he has been pronouncing, the speech at georgetown last week and "the wall street journal" op-ed and other places basically serves the interest of people who would more or less deceptive political...
72
72
Oct 23, 2019
10/19
by
CSPAN3
tv
eye 72
favorite 0
quote 0
libra. will facebook accept libra as payment for advertisements on its site? >> congresswoman, i imagine if the project proceeds to that stage, that we would do that, but we haven't developed our full set of policies around where exactly it's going to hook into different parts of our system. the priority right now is to help the libra association and make sure that kalibra as a subsidiary can comply with regulations and secure regulatory approval. >> you understand what will be kind of a collective concern is if you can use libra to buy ads on facebook and you can be anonymous, essentially in so doing, the potential challenge that we face relative to our electoral law. >> congressman, i can assure you you're not going to allow any we weakness to enter into the system that requires verification of people's government ids for buying political ads. >> on the subject of verification, as twitter has verified accounts, i would love to hear your thoughts on facebook would consider verifying its users so that in transactions, especially as we consider what will be a r
libra. will facebook accept libra as payment for advertisements on its site? >> congresswoman, i imagine if the project proceeds to that stage, that we would do that, but we haven't developed our full set of policies around where exactly it's going to hook into different parts of our system. the priority right now is to help the libra association and make sure that kalibra as a subsidiary can comply with regulations and secure regulatory approval. >> you understand what will be kind...
79
79
Oct 3, 2019
10/19
by
CNBC
tv
eye 79
favorite 0
quote 0
this is facebook it could get contentious, right? >> right members of librarganization are meeting in part of an effort the libra association. uber, spotify and other member companies are meeting today and also october 14 in geneva where they are expected to vote on a board of directors on this libra association following reports of original members visa and master card reconsidering their involvement. they've debunked those reports saying they have no knowledge of those who want to participate and has worked through all of the issues we've heard facebook ceo has been planning to testify on this at some point. this is amid ongoing complaints from regulators and issues related to money laundering and marketing power. all of the concerns we hear from politicians will delay the launch of the currency, which is planned for next year to now >> that is libra and what is happening in washington. there are two perhaps unlikely faces teaming up at an event in dallas, texas later on today what can you tell us about what is going on in texas >> it is google ceo and whit
this is facebook it could get contentious, right? >> right members of librarganization are meeting in part of an effort the libra association. uber, spotify and other member companies are meeting today and also october 14 in geneva where they are expected to vote on a board of directors on this libra association following reports of original members visa and master card reconsidering their involvement. they've debunked those reports saying they have no knowledge of those who want to...
38
38
Oct 24, 2019
10/19
by
BLOOMBERG
tv
eye 38
favorite 0
quote 0
taylor: are the problems not about libra but the fact it is libra and facebook and that facebook's nameo this project? >> i think that certainly does not help. there are two takeaways from the hearing in my view. one is that libra is toast. number two is that mark zuckerberg got roasted. like, you know, he did not do himself any favors here. the idea that regulators in the u.s. or around the world are going to allow mark zuckerberg to potentially undermine the entire u.s. financial system is highly unlikely at this point. so i don't think he did himself any favors at all, and it just opened him up to being a punching bag from both the right and left on a whole host of issues that went far beyond libra. taylor: karen, you chuckled a little bit when karen said that libra was toast. do you agree that libra feels a little bit dead on arrival? >> i said before that i think this is the worst product launch ever, and that is counting the new coke. the reason for that is because they did not understand a very fundamental fact -- the payments system, currency, financial transaction, it's about o
taylor: are the problems not about libra but the fact it is libra and facebook and that facebook's nameo this project? >> i think that certainly does not help. there are two takeaways from the hearing in my view. one is that libra is toast. number two is that mark zuckerberg got roasted. like, you know, he did not do himself any favors here. the idea that regulators in the u.s. or around the world are going to allow mark zuckerberg to potentially undermine the entire u.s. financial system...
26
26
tv
eye 26
favorite 0
quote 0
government to now react to china's stable coin project by reconsidering its ridiculous response to facebook's libra he said that he wanted the u.s. to you felt that the u.s. wanted to be left behind because they were completely obsolete in the future innovation and construction of digital currency so what is the outlook for libor now that paper has officially left the association. yeah i don't think the future for labor looks particularly bright right now and there's a couple of reasons for that i mean consider the 2nd part of what brian armstrong said there makes sense when he says the u.s. is getting completely left behind on this that's absolutely true and that's by choice but but it's obvious that that would happen because the us having the reserve currency worldwide is in no 'd hurry to change the monetary system around the world people who are involved in crypto want to see a disruption a revolution in terms of the monetary system not just here in the united states but globally but consider the fact the 1st thing he said which was that the u.s. government has had a ridiculous stance on libra
government to now react to china's stable coin project by reconsidering its ridiculous response to facebook's libra he said that he wanted the u.s. to you felt that the u.s. wanted to be left behind because they were completely obsolete in the future innovation and construction of digital currency so what is the outlook for libor now that paper has officially left the association. yeah i don't think the future for labor looks particularly bright right now and there's a couple of reasons for...
35
35
Oct 24, 2019
10/19
by
BLOOMBERG
tv
eye 35
favorite 0
quote 0
facebook ceo mark zuckerberg describes libra as complex and risky.
facebook ceo mark zuckerberg describes libra as complex and risky.
41
41
Oct 23, 2019
10/19
by
BLOOMBERG
tv
eye 41
favorite 0
quote 0
federal reserve chairman told our committees, if libra causes protection, they would rise to systemically important levels due to the size of the facebook network. david marcus said if libra is not done right, it could present systemic risk. do you believe libra is systemically important, especially because you are calling it a payment system, which is really done by central banks? do you compare what you are doing with libra to central banks, should you be regulated as such? congressman, the distinction between what is systemically important, my understanding is a big part of that is scale. , just becauseting facebook serves a lot of people around the world doesn't mean that if we rolled out a product that on day one all of those people would be using it. like any of the things that we do, we probably have to experiment, make the product work overtime, and that would be risky. there is a long public printer movie are discussing it before getting any approval. i also think there is a risk that we ship something and it takes time to make it work. time, plan works, over certainly it could rise to the level that someone might determine is
federal reserve chairman told our committees, if libra causes protection, they would rise to systemically important levels due to the size of the facebook network. david marcus said if libra is not done right, it could present systemic risk. do you believe libra is systemically important, especially because you are calling it a payment system, which is really done by central banks? do you compare what you are doing with libra to central banks, should you be regulated as such? congressman, the...
50
50
Oct 5, 2019
10/19
by
BLOOMBERG
tv
eye 50
favorite 0
quote 0
facebook said friday afternoon it decided to forego participation in libra and focus on advancing itssion and business priorities as we strive to democratize access to financial services for underserved populations. paypal was one of the original 238 founding members of the facebook-led initiative. several members are now wavering over whether to fully embrace the no comment friday evening from facebook. fintech company brex announced its new product, brex cash. it allows customers to pay in cash for any invoice or bill in one system, earn rewards and even earn 1.6% interest. joining me is brex co-ceo, henrique dubugras. henrique, thank you for joining me. why do you think this is the right system, combining cash, credit, and savings in one? henrique: first, thank you for having me. brexth brexit cash, we -- cash, we tried to assault all of the financial problems of our customers. no matter how you want to pay, you can do it in one single place. banks traditionally separate between checking and savings accounts, so you earn less on -- less interest on your money as a whole. so brex si
facebook said friday afternoon it decided to forego participation in libra and focus on advancing itssion and business priorities as we strive to democratize access to financial services for underserved populations. paypal was one of the original 238 founding members of the facebook-led initiative. several members are now wavering over whether to fully embrace the no comment friday evening from facebook. fintech company brex announced its new product, brex cash. it allows customers to pay in...
81
81
Oct 16, 2019
10/19
by
CNBC
tv
eye 81
favorite 0
quote 0
street caps off the week our colleague will speak exclusively to goldman sachs ceo at 20:00 cet facebook's libra project is under pressure our very own elizabeth will speak to facebook's david marcus will speak to a panel. the bank of england governor will also be on stage at 16:00 cet. >> investors will be trading sterling we have a picture toward the pound that has been a bit of a roller coaster ride. trading slightly weaker. at one point down about .5 percentage points. a lot to watch out for that's it for our show >> "worldwide exchange" is up next here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today. >>> it is 5:00 a.m. at cnbc global headquarters. one and done wall street giving back some of yesterday's massive gains. the trade war, back on with china issues
street caps off the week our colleague will speak exclusively to goldman sachs ceo at 20:00 cet facebook's libra project is under pressure our very own elizabeth will speak to facebook's david marcus will speak to a panel. the bank of england governor will also be on stage at 16:00 cet. >> investors will be trading sterling we have a picture toward the pound that has been a bit of a roller coaster ride. trading slightly weaker. at one point down about .5 percentage points. a lot to watch...
37
37
tv
eye 37
favorite 0
quote 0
paypal might be on the verge of exiting facebook's libra payment project. the times is reporting they pulled out of a key meeting called by facebook for today in washington d.c. as cracks form in the libra coalition. visa, mastercard, and others were thinking about quitting the libra project among increasing regulatory pressure at home and abroad. jay pow wel powell said he will have to look at it closely. the partners are moving higher as is facebook. >>> everybody loves a come back story especially if you are a wall street bull. green on the screen as the dow swings today. 445 points after the wallop we saw over the past few days. the dow is up 67. we had been up 110. shares in tesla are hitting the breaks after they delivered a record 97,000 cars in the third quarter. what's so terrible about that? well, it fell short of the 100,000 deliveries that the ceo let his employees know. it was leaked. it missed what he said to lookout for. still a record. of course, the down grade for the stock being down 4%. go pro is looking dimmer. they are on base for the bi
paypal might be on the verge of exiting facebook's libra payment project. the times is reporting they pulled out of a key meeting called by facebook for today in washington d.c. as cracks form in the libra coalition. visa, mastercard, and others were thinking about quitting the libra project among increasing regulatory pressure at home and abroad. jay pow wel powell said he will have to look at it closely. the partners are moving higher as is facebook. >>> everybody loves a come back...
57
57
Oct 15, 2019
10/19
by
CNBC
tv
eye 57
favorite 0
quote 0
open for futures >> the on line travel company booking holdings is the latest to drop out of the facebook libract. the owner of price line and booking.com have backed out. they've issued warnings about the risk but the leading members have promised to push ahead yesterday, they announced five new board members. the group did acknowledge regulatory issues could push out the 2020 launch date saying the project does not meet the standards required >> i've met with the representatives of libra multiple times we've been very clear with them. you can call that threatening. if they don't meet our standards of money laundering standards and the standards we have, we would taken forcement actions against them >> if you are interested in libra, don't worry we'll have more this week as we host a panel among the panelists will be facebook's david marcus there. the cofounder and chairman of infosys. and form economic advisor of president obama. speaking of mark farny, we'll hear from him in a few minutes >> yes in germany, wirecard shares are down following an ft report on the payments of the accounting pra
open for futures >> the on line travel company booking holdings is the latest to drop out of the facebook libract. the owner of price line and booking.com have backed out. they've issued warnings about the risk but the leading members have promised to push ahead yesterday, they announced five new board members. the group did acknowledge regulatory issues could push out the 2020 launch date saying the project does not meet the standards required >> i've met with the representatives...
66
66
Oct 23, 2019
10/19
by
KTVU
tv
eye 66
favorite 0
quote 0
the house financial services committee is expected to ask about facebook's planned digital currency, libraake online purchasing available to people who don't have access to bank accounts and it will reduce the cost of sending money across borders. mark zuckerberg says facebook will not launch libra until u.s. labor leaders prove it. >>> there is a new tool to help attract new police officers and firefighters in the south bay. the sunnyvale department of public safety is turning to technology, hoping to fill open jobs. it's the latest agency to sign up for a new service through an app called, interview now. the text message-based service uses artifial intelligence to interact with a recruit and then filter them based on job requirements. >> you want to make it as easy as possible for people. you don't need to download an apical tool of address. >> we are in the heart of silicon valley. were hoping we can use this technology to our advantage. >> sunnyvale will pay $9000 for one year of interview texting service. the city says it could extend that would spend that on one recruiting there. >>>
the house financial services committee is expected to ask about facebook's planned digital currency, libraake online purchasing available to people who don't have access to bank accounts and it will reduce the cost of sending money across borders. mark zuckerberg says facebook will not launch libra until u.s. labor leaders prove it. >>> there is a new tool to help attract new police officers and firefighters in the south bay. the sunnyvale department of public safety is turning to...
47
47
Oct 11, 2019
10/19
by
BLOOMBERG
tv
eye 47
favorite 0
quote 0
taylor: shira, should facebook abandon the project were continue to fight? shira: the problem with libravery beginning was it was both a very ambitious idea and entirely vague and half-baked. i almost wonder if facebook really anticipated moving forward with this. they released this very vague white paper. they created this association based in switzerland that did not seem to actually exist. so, i wonder if facebook from the beginning really -- i just don't know if they intended to move forward with this project at all, to be honest with you. like michael said, i am not sure they can. taylor: was this ever a good idea? this was a side project. did not contribute significantly to revenue. why did they start it? michael: you could ask that question about any of the big tech companies that wrenches up into something that is not their core business. why is google in devices? the answer is they think it will benefit their core business. facebook is doing this because they have this billion daily active user base and they think they can get those people to conduct commerce on its site. they w
taylor: shira, should facebook abandon the project were continue to fight? shira: the problem with libravery beginning was it was both a very ambitious idea and entirely vague and half-baked. i almost wonder if facebook really anticipated moving forward with this. they released this very vague white paper. they created this association based in switzerland that did not seem to actually exist. so, i wonder if facebook from the beginning really -- i just don't know if they intended to move...
30
30
tv
eye 30
favorite 0
quote 0
mark zuckerberg announcing he will delay the launch of facebook's cryptocurrency libra what's behind that decision. here the hearing actually when on for hours and hours and hours in washington d.c. and there is a lot of scrutiny from the political side but also some of the puttering companies for facebook go for the lead project have actually pulled out companies like pay pal visa or master card but let's listen in what mark zuckerberg had to say himself in front of a financial committee in d.c. today. there are important risks that need to be addressed there are questions about financial stability fighting terrorism and more and i'm here today to discuss those risks and how we plan to address them but i also hope that we get a chance to talk about the risks of not innovating because while we debate these issues the rest of the world isn't waiting china is moving quickly to launch a similar idea in the coming months. is going to be backed mostly by dollars and i believe that it will extend america's financial leadership around the world as well as well as our democratic values and o
mark zuckerberg announcing he will delay the launch of facebook's cryptocurrency libra what's behind that decision. here the hearing actually when on for hours and hours and hours in washington d.c. and there is a lot of scrutiny from the political side but also some of the puttering companies for facebook go for the lead project have actually pulled out companies like pay pal visa or master card but let's listen in what mark zuckerberg had to say himself in front of a financial committee in...