of restrictions due to zero covid 19 playing havoc in the long run with economy, business had employees seem to get pcr is, had employees seem to get pcr 5, factories forced to close and we saw the impact of this in the long run. what chinese state media saying showing things are gradually improving job market is stable and the is likely couldn t can you stop it backs up data we saw last week from china showing the growth rate showed a huge improvement on year, off the back of the showing height lockdown this time last year, one analyst i spoke to said this could be an initial high but will it last? there are headwinds going forward for the chinese economy, grappling with a huge amount of debt, crackdowns as a result of that on the country s property developers and the tech space, many homegrown giants struggling to work out what will go forward when it comes to the regulatory environment in china. that is leaving foreign investors to be
beyond mass layoffs and plans to shut down its online global bookstore after being open for almost two decades tell us what that means? yeah, so this is a little bit of a weird one, right because amazon started effectively because it wanted more books in its business and even bought the online bookshop book depository, but that is about to close and closes at the end of april this comes after the book seller that is being amazon decided it wanted to shed off excess weight and it being one of those. it is beginning to weed off certain parts of its business it feels it doesn t need with the tech space continuing to grow and amazon web services providing a big chunk of its business cnbc s arabile gumede, thank you very much. still ahead here on way too early our next guest says the trump tower and mar-a-lago are
economic conditions were behind the decision. he said this was a difficult decision but one that we think is best for the company long-term. now, amazon is not the only company in the tech space that s been pulling back on staff. last week, meta announced they would be cutting 10,000 jobs this year following a big wave of layoffs back in the fall of last year. alphabet also announced back in january that it would be letting go of 12,000 workers, so the tech sector hired in a huge way throughout the course of the pandemic to take advantage of fresh demand, but now they are cutting back significantly. and lastly and quickly, foot locker s new ceo has a new plan to jump start growth. tell us about it. in a nutshell, john, they are closing stores in underperforming mall locations and they re opening more specific, special concept stores in free standing locations. this is all part of a sweeping
during covid all that influx into tech, start-up - this is the preeminent bank in the tech space and the start-u world. he had so many deposits, the said, what are we gonna do wit it they made a bad decision o investing in treasuries and so interest rates go up, all those are worth a whole lo less, the bank had a hold, and they did a very poor job communicating last week. they said we re gonna raise bunch, money and in doing so they spooked america and the enormous amount of those depositors pulled their money. they got shut down my question tonight, it really good, and it s positive for all those depositors, thos individuals, the small businesses - that can be able to get thei money. that s what the government decided. beyond just what the fbi - up to 250 grand. my question is, what s gonna happen to the executives at th bank was the ceo? i wonder where this ero is how did this happen, who s
congressman. we appreciate your time. we want to bring in stephani ruhle on the phone stephanie ruhle, her brillianc was overshadowed by a tech snafu. tell me something everything you are trying to tell me before, but this time, i can actually hear you. so i looked so bad on televisio because i ve been looking on rogue reporting on this stor all week when - home studio, pulled the plug and said, please, god, just to have phone in. - we know that the senators ar meeting special briefing what do you want to know okay, this is the question would ask. what is gonna happen to th executive this did not need to happen. okay this bank had an enormou amount of deposits right? during covid all that influx into tech, start-up - this is the preeminent bank in the tech space and the start-u world. he had so many deposits, the said, what are we gonna do wit it they made a bad decision o