Good morning from the financial times. Today is Friday, July 30th, and this is your F-T news briefing.

Amazon misses Wall Street's revenue targets in the latest quarter,

Robin Hood had a rough first day on the public market, and China wants to ease investors fears

after Beijing's regulatory crackdown. Plus, some young workers have been able to take advantage of

a tight job market this summer. Teenagers have been able to drive a really hard bargain,

and employers are taking them up on it because they don't have another choice.

We'll take a look at how they got the upper hand. I'm Mark Filipino, and here's the news you

need to start your day. Amazon reported its quarterly earnings yesterday, and revenue was

27% higher than the same time last year. But it wasn't high enough to match analyst expectations.

It was a matter of $2 billion. Amazon finished the latest quarter at $113 billion,

and analysts had the e-commerce giant coming in at $115 billion. And investors weren't thrilled

with the news. Amazon shares were down 7% and after hours trading, if T's Dave Lee has more.

Time Wall Street's expectations for just how high the revenue could climb in this quarter

wasn't quite met. Their profits actually were more than what Wall Street had expected,

but I think one of the things that dragged down the share price further yesterday was the fact

that Amazon said, you know what, we're going to continue to see these difficult comparisons

with last year. And so this period of incredible results that Amazon has been putting out there

during the pandemic when it's been so much demand. They're basically just saying, you know what,

we need to become now because the comparisons with last year are going to get more difficult.

Their businesses still doing very well, they say, but last year was an exception that won't be

matched this year. Dave Lee is the FT's San Francisco correspondent. He covers Amazon.

The retail trading app Robinhood became a publicly traded company yesterday,

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