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Bill targets digital yuan apps, tech troubles hit workforce, Ford delivers first electric F-150

Yahoo Finance Video

A new bill is aimed at digital yuan apps, citing surveillance risks; hiring slowdowns and layoffs are hitting the tech workforce; and Ford has delivered its first electric F-150.

Video transcript

[MUSIC PLAYING]

- China's digital yuan under the crosshairs of a new bill that would bar app stores like the ones used by Apple and Google from hosting apps that accept the currency. The bill's sponsors say transactions made with the digital Yuan include precise user data and financial activity and they can be used for surveillance. Currently, apps like Tencent's WeChat and the Ant Group owned Alipay accept the digital yuan.

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Microsoft says it's slowing hiring in its software groups focused on Windows, Office and Teams, this according to Bloomberg. The hiring slowdown is not company wide. Meanwhile, PayPal, the most recent in a string of tech giants to lay off workers as growth slows, the moves come as a general tech sector slowdown is affecting the workforce with companies pausing recruiting and trimming staff.

And the very first Ford F-150 electric pickup truck has been delivered to a customer also on the wait list for the Tesla Cybertruck. The launch of the F-150 marks a heavier push from US automakers into electric vehicles and the electric pickup from Ford has beaten its rivals. The Cybertruck as well as Rivian's R1T pickup to market. The move a significant shift for Ford whose F-150 lineup has been a top seller domestically over the past 40 years. It also generates more than $40 billion in revenue according to Bloomberg.