Good wednesday morning welcome to squawk alley. Im john for the with caro quintanilla and Julia Borstin well start with apple, a cost cut for Small Developers josh lipton breaks down the news for us. Here is how the new program is going to work its called the App Store Small Business Program it launches on january 1st and it does represent a big change here. Developers earning up to 1 million during the Previous Year will now be eligible for a commission of 15 on paid apps and inapp purchases, and that is half of apples Standard Commission apple says the new program will impact what it says is the vast majority of developers selling Digital Goods and services on the store. Tim cook saying in a statement the app store has been an engine of Economic Growth like none other, creating millions of new jobs and a pathway to entrepreneurship accessible to anyone with a great idea for investors this change is also important remember, the app store is critical for apple it accounts for an estima
Good afternoon. President elect biden and i just met with some of our nations business and union leaders. Together they represent millions of workers across our country. And some of americas leading technology, auto and retail companies. We had an important conversation about the impact that this pandemic has had on workers. Especially essential workers, frontline workers, who have risked their own health and the health of their families and many whom have given their own lives to keep us safe and keep our economy running. And we all know that this pandemic and this recession have hit communities of color particularly hard. Black americans and latinos are threetimes as likely to contract covid as others and more likely to die. Native americans are more than four times as likely to be hospitalized as others. And last month, the Unemployment Rate for black americans was almost twice the rate of others. And we have also had a conversation about the impact this pandemic has had on our econ
The year dow is set for a record close, approaching 30,000 with 59 minutes left of trade. Up 1 2 on the dow sara 29,830 currently. Coming up todays show, we are waiting president elect biden to make some comments on the economy. His economic plan that should come any minute. We will take you there live. In the meantime, a rare interview with operation warp speeds dr. Slaoui he will weigh in on the moderna news and what the rollout will look like. Plus the positive vaccine theus with mark moabious his eye on emerging markets. And mike wilson saying next year will be all about earnings we will discuss with Morgan Stanleys chief u. S. Equity specialist mike santoli joins us. Meg tirrell has the latest on covid19 news. Eamon javers will go over president elect biden speech on the economy when we get there. Lets start with mike santoli. We below on the s p 500 where we were this morning, by about a third of a percent below last monday mornings high about a third of a percent but looking at
Plus Perus Congress chooses a former World Bank Official to be the countrys new president. Its 3rd this week. And al jazeera obtains recordings of one of the worlds most wanted men, trying to negotiate him. Unity from prosecution. And in sports reigning champions, algeria and qualified for the africa cup of nations. The desert fox is advance despite being held to a 22. 00 draw by zimbabwe in harare. Theres more good news in the battle against covert 19, but also warnings to the world to not to let down its guard as infections continue to soar. The u. S. Pharmaceutical firm modernists says early results from trials show its facts in is 94 points. 5 percent effective. Far exceeding expectations. We have about 20000000. 00 doses of vaccine by the end of this year. And were looking forward to making about 500000000. 00 to a 1000000000 doses next year. But that is going to be a 247 operation. It wont be maternal, it wont solve this problem. Its going to require many vaccines as weve been sa
From wilmington, delaware, this is 35 minutes. Vice president elect harris good afternoon. President elect biden and i just met with some of our nations business and union leaders. Together they represent millions of workers across our country. And some of americas leading technology, auto and retail companies. We had an important conversation about the impact that this pandemic has had on workers. Especially essential workers, frontline workers, who have risked their own health and the health of their families and many whom have given their own lives to keep us safe and keep our economy running. And we all know that this pandemic and this recession have hit communities of color particularly hard. Black americans and latinos are threetimes as likely to contract covid as others, and more likely to die. Native americans are more than four times as likely to be hospitalized as others. And last month, the Unemployment Rate for black americans was almost twice the rate of others. And we hav