I have mocked my cities days for centuries the company my country. Towns until the day i mean weve. Not done differently stunts april and. Global markets fear recession and go looking for cash investors and Companies Abandon stocks on wednesday as well as typical safe havens like bonds and gold the governments are racing to prevent a spiral. Also on the show well look at the start of the berlin thats proven to be especially vulnerable to the growth of virus. And we showed the way Cargo Companies like tonga are dealing with a backlog of the pandemic keeping at least some supply chains to interrupt. This is your Business Report im Stephen Beers in berlin its good to have you with us. Global markets continue their sharp sell off on wednesday after more key businesses sounded the alarm over worsening finances. And plans to freeze their activity now the dow and the price of oil both tumbling wednesday safe havens interesting lee were also hit hard gold falling as well as the yields on 10 year u. S. Treasury notes as you can see there yields going up the interesting thing here is that that suggests investors and companies are looking for cash that is an unusual correlation there between stocks and bonds either to plug holes in operating budgets or because they dont understand what is a good investment right now and the bottom line over the last few days Investors Companies and governments appear to be reckoning with a near complete halt Economic Activity for an unknown length of time and thats an unprecedented challenge with an unclear solution. Now berlin has been hailed as a european startup mecca but the coronavirus is sparing no sector analysts say startups are especially vulnerable now and one travel Technology Company staff are working from home and bookings have plunged. Travel company get your gun and makes its money about connecting travelers to local guides and businesses all over the world its headquarters are located in the german capital these days the usually bustling offices spookily quiet all of the companys 600 stuff ive been working from home since last week. Its a devastating time for the entire Tourism Industry and we all had a very good started to the Consumer Sentiment and generally and early february was very strong before the coronavirus had italy and now within a matter of weeks weve gone from strong growth to a reduction of more than 50 percent in the volumes of bookings. I just want to lose more fortunate stone having raised you know frenchy capital for the next 2 years but the coronavirus will hit many startups in the city whose famous streets and i will also ghostly quiet. No one is going to be exempt from the implications of corunna started to especially are going to be very vulnerable theyre already running on very lean budgets and as customers dry up a lets hear a start up that focuses on things you do in the house or delivering really struggling despite Government Support for Small Businesses hit by the coronavirus when the crisis is past many of the smaller start ups in this city may be no more than a memory of simpler times. And financial correspondent jose luis de haro joins me now from new york jose the u. S. The Worlds Largest economy is still working on its stimulus plan to respond to this outbreak this pandemic i should say where things stand. For now is stephen im bringing lots of news and defers ones we just learned minutes ago that denies he will close its Trading Floor is starting march 23rd and will star operating completely and fully electronically for a period of time and then also its important to have in mind that the Senate Just Passed the bill approval ready by the Congress Last weekend and basically these would bill will provide in hanes Unemployment Insurance insurers say that businesses that have fewer done 500 employees they can offer 2 weeks of paid sick leave to their workers and increases funding for Food Assistance programs has had from guaranteed pretesting for the coronavirus but upside from these there are all there are several plans being discussed between legislators and the white house to push federal spending up to one trillion dollars over 4 percent of us that g. D. P. To bear with the effects of the virus among those plans discussed by the treasury there is hope to approve 2 wrongs of direct payments to individuals which could mean up to 2000. 00 for Many Americans a massive Government Intervention we should note that the president s a conservative republican who wants to let business markets generally run on their own except when it comes to stimulus such as tax cuts does he have support for this. Probably not stephen and thats why negotiations for a full steam in this package are taking so long were to talking about direct payments to individuals bailouts for some industries and skyrocketing the federal budget deficit doctrines and that can be in full confrontation with 3rd and political believes here in the United States that its why war the Current Situation is becoming important we have heard the president labeling himself as the wartime president all americans to sacrifice and together and war its been referred also by u. K. s Prime MinisterBoris Johnson or french president my normal. Case of missing gene the crisis as a war may allow him to keep implementing measures that the normal circumstances will probably take a bigger political toll all right a good reminder to remember just how disruptive those stimulus measures were 12 years ago in the u. S. Jose luis the heart of their force on wall street thank you. Lets look now at how the coronavirus is making business headlines elsewhere in the world millions of poor indians may get compensation for income lost due to the coronavirus state of utah products home to the famous taj mahal is the 1st to begin counting who qualifies the state which is one of the poorest in india will make online payments to poor and daily wage workers if they lose work because of the pandemic. B. M. W. Is shutting down all car production in europe and south africa until least the end of april german carmakers saying it needs protect the health of its employees a Company Already had at least 3 cases of coronavirus at its r. And d. Center in munich. And that announcement follows a similar one from volkswagen home city of the announcement that the companys closing plants there starting friday is setting the scene for an economic world when we talk to some of those will face the full blast of the shutdown. The fight complex involves during a shift change more than 63000 people work in this factory on friday its set to close to protect them from the coronavirus the shutdown is planned for 2 weeks but that could easily turn into 3. Where its well known what they have to do the earlier the better its a bit tricky with payment we dont know what happens from here own. Work but you know we work this thousands of us elbow to elbow the county being shut the restrooms werent being cleaned anymore other companies werent allowed in but we still have to work with our colleagues. While the spirit has around 124000. 00 residents and hardly anyone is still taking taxis. Yes were probably going to have to discontinue no taxi operations when the folks in factory shuts down at the moment we do maybe 2 to 6 trips a day while the 3 cross. Before the coronavirus struck the city center used to fill up at may day but most of the businesses have closed now. Many unwalled spork think thats the right thing to do. You think i think so yes if its already gotten so bad with the coronavirus it had to be done through your mind. The v. W. Factory closure will reverberate across business sector this not stand owner says hes already lost 90 percent of the sales. And much of the worlds air cargo travels and passenger flights that means the travel restrictions currently in place around the world are affecting not just passenger traffic but the global Just Exchange now of tons of is trying to catch up to the back load. This boeing triple 7 only buy tons as freight subsidiary is set to fly to shanghai full of Machine Parts in medications all of those tons as cargo aircraft are fully booked as dispatchers worked to reduce the backlog of goods from weeks of cancelled flights amid a Coronavirus Crisis thats become more complicated but its far from the only issue. Normally we would do a direct flight for example from frankfurt to shanghai were currently operating in a security mode a caution mode over navas of beers can eastern siberia that means a stopover and that allows us to have a crew change there and avoid spending the night in Mainland China was in the cargo area of Frankfurt Airport containers and pallets are stuck and ready to ship canceled passenger flights from the tons of have caused the pileup the German Airline grounded thousands of flights across the world due to virus really did travel restrictions and in the belly of almost every passenger plane cargo was meant to be carried. The head of the tons of cargo faces a problem many of its 4000 employees are working despite the big backlog of orders. That is the force thats from if you imagine that 50 percent of our capacity is in the bellies of passenger planes and that there are no longer flying or just to a limited extent then of course were short on capacity and since we lack capacity we also lack employment yes of course were thinking of short time work with. Stephanie meyer is in a similar situation hes the head of a medium sized air and Sea Freight Company and hes seen a 10 percent drop in assignments compared to a normal january and february because of the limited transport capacity and high prices his company has to turn away orders from some customers so tight is deployed at the moment planning is almost impossible were living day to day not thinking about tomorrow weve come to grips with the situation in china but other markets are coming like the usa which was. Adding to that concern are worries around additional corona outbreaks in germany if too many employees fall ill some branches may have to shut down completely. And thats it for me and the Business Team you can find out more about these and other business stories online at www dot com slash business im speaking theres a lead thats watching. Too for conflicts of the flight from iss to respect to the fuel nigerias government sponsored by the International Community of serious human rights abuses i guess this week here in london is climate how many countries information minister how does he just friend against the countrys many critics when the evidence of wrongdoing is so compelling the for the for. The for europes toulouse are closing. In italy things have been taking place at home for several weeks now because the internet drastic measures exceptionally challenging times for teachers and students. Come much when students learn during this time of corruption are. Focused on europes. The 60 minutes do you. Know how does a virus spread. Why do we have it and when well all miss him and you just 3 of the topics covered and i weekly radio show is called spectrum if you would like any information on the crown of irish or any other science topic you should really check out our podcast so you can get it wherever you get your podcast you can also find us at d. F. W. Dot com ford slash science. Staying up to date dont miss our highlights. Program online w dot com highlights. I think theres been a lot of. Mysteries and dish when it comes to the double depresses we do extremely very well you rank 120th out of 180 countries the glorious record is a list of things a lot of ignorance and not to find the chief has to be that youre covering up then that you have a boost. And has been taken care of despite promises to respect the rule of law nigerias government stands accused by the International Community