Equipment like ventilators which are also in short supply but retooling production lines is complex and costly. Well theres hope with all the stimulus announced european equities pushed higher friday u. S. Stocks fell with new york the latest stage people to stay home but firstly the British Government is taking extraordinary measures its promising to pay 80 percent of wages in the private sector its to discourage bosses from firing stuff over lost business from the virus the finance minister says theyll be no cap on the size of the plan which the government will fund by selling more debt is also allowing companies to hold on to billions of pounds in value added tax over the next few months. Lets look at how the virus is making business headlines elsewhere in the world. Can no longer pay its bills the german restaurant chain has been forced to close almost all of its locations due to the corona virus and perhaps the proceedings are expected in the next few weeks the company is hoping for government aid. On free comic a bentley will help production in the u. K. For 4 weeks the decision was made to keep employees dave there also fears about shortages of parts the british luxury brand is owned by fox barton which is reducing output across europe. The World Economic forum is launching a coded action platform the 1st of its kind drawing on its network of Business Leaders it aims to galvanize the Global Business community for collective action the group is open to all businesses and governments who want to offer their help. Study as he is managing director of the World Economic forum thanks for joining us Central Banks and governments are throwing trillions in stimulus and aid at this pandemic and even then Global Equities of horrible how can your platform common best is. So what were trying to do is one be a source of sort of the best synthesized information from various experts and 2nd try to mobilize business and the service off helping solve the sort of Health Economic and social challenges that are emerging i mean lets be clear the Health Impact is what comes 1st but we need to start preparing for managing and mitigating a lot of the social economic fallout that is to come you know youre absolutely right about that loss of confidence we asked a group of chief economist from across the Banking Sector the insurance sector and the Consumer Sector about their views on what the recession and recovery may look like and while a good 30 percent thought that this would be a sort of v. Shape but it staggered the shape across multiple economies and there for you shape globally there was a good 30 percent that were completely uncertain and a good 5 to 10 percent that actually were thinking this is going to be an l. Shape this is going to take a very long time and the reason for that loss of confidence is essentially because there isnt a belief that there is quarter nation between fiscal and Monetary Policy despite the very large sums that are being talked about that there isnt that coordination at the International Level between various governments of the nature that we saw in 2008 and that there isnt really clarity on what are the pathways with which we are going to deliver it cash in 2 different households yes the kitchen sink approach but then how do we actually get it into the right tens and then finally there is a belief that employers are particularly prepared right now you know we surveyed our employers and less than 10 percent had ever thought about pandemics as part of their current rest scenarios and less than 50 percent had ever experimented with even part of their. Teams working remotely thats of course just the white collar workforce so there is this overall sense of uncertainty and anxiety that youre of course seeing across the board saudi is from the loss of confidence theres also a lack of cooperation what makes you think countries and companies are going to start working together when everyones withdrawing right now people are going local have been bad on exports of mosques for example. As the europe has europe or the u. S. Even tried to learn from china is handling of the outbreak because i dont think they have. You know a lot of what were trying to do as sort of there is of course a call for push for working closely with various International Organizations use the forum sort of platform to push for a lot more of that collaboration but the 2nd thing that needs to happen is in addition to the current sort of emergency theres 2 things that need to happen one business need to be mobilized a whole lot more to actually help deliver some of these solutions thats a large part of what were trying to do at the World Economic forum particularly when it comes to those Health Related supplies and the 2nd element is we need to start preparing now for understanding what is going to be the impact of these fiscal policy measures that are being put in place in very different ways in different parts of the world what might be the distortionary effects of that what can be done in terms of corrective measures and very quickly crowd sourced from the best experts you know what is the best approach is this about cash transfers directly to households is this about small and medium sized businesses is this about bailouts of specific industries or some combination of the above and what is that optimal combination i think we have to at this moment in time rely on expertise rely on information and then take that information very very public very quickly quick and to do private businesses on that bailout topic deserve public funds like like boeing for example. You know i think theres a lot of debate on this right now theres quite a bit even before this crisis unfolded there was a lot of views from experts and academics that the situation has gotten to a point where we do need to start thinking about having some sense of better distribution of risks and returns in between the public the Public Sector and the private sector so i think youre going to start seeing much more of that debate play out as any of these measures go ahead of course different economies have different sort of almost cultural views when it comes to this and i think thats going to be a huge part of the factors that are to into account as well so audios managing director of the World Economic forum thank you very much thank you as public life in germany slows one sector thats really hurting is a vents in addition to the concerts and conferences that have been cancelled trade fairs are struggling. For the time being theres still some work for d. For a project Building Modules for the interior fittings for a museum normally this workshop is a hive of activity 26. 00 carpenters and painters usually turn out stands for trade fairs in germany and abroad but those fares have been cancelled or put on hold for now. And those parts one for the i t b they came straight back on opened most. Over there youve got singapore i was also canceled. The whole stand for singapore all scrapped the cancellation of the i. T. V. International tourism fair and other exhibitions means that d. For a project is only making 15 percent of the sales it made at the same time last year thats only enough work for 4 or 5 employees 2 weeks from now theres nothing on the schedule what happens then. I have no idea at the moment weve applied for short work subsidies weve been authorized to cut back on working hours starting today and we will we started today but we began in the back office and will have to extend it to all areas beginning in april were hoping that by then the state will be helping us out in a big way. Exhibition and event cater a veto is also feeling the crisis where normally there would be piles of small snacks and tidbits now all empty a veto founder alexander shot has put most of his staff on home office for the time being the few remaining are working on new concepts for the current landscape. With the kids that we kind of we havent had a lot of socializing lately that means weve all vesely had a few olders trade fat as Conferences Meetings all being canceled most of the people are working from home though from the home office the caterer is now trying to concentrate on critical employees who cannot work from home and put together lunch boxes for them. In berlin future events are still in jeopardy officials want to build a hospital that would treat up to 1000 corona infected patients on what is now an exhibition ground thats bad news for the Events Industry and. If theres going to be a hospital with logistic space there wont be enough room for future trade finance for me thats going to be a massive limitation and so far Industry Association estimates show that event Sector Companies have lost 2000000000 euros due. Coronavirus related cancellations but that number could still rise significantly less french booksellers of calling for restrictions to be lifted to allow them to open for at least a couple of hours every day they say if online retailers are allowed to keep selling their wares so should they maybe in germany has granted bookstores exceptions frances economy minister for a man as pledged to look at the issue saying bookshops are an essential business. And one sector in which jobs are growing a super markets some of the big retailers are rapid sizing for tens of thousands of temp stuff to deal with the panic buying will meet lots of people to stop their shelves with toilet paper most of business with it. The global corona trial says you can find more Information Online at e. W. Dot com and on t. W. Social media channels. Its hard to laugh. At him from people make fun about their own social economic and political problems. In mozambique we say that you have to laugh so you dont write its hard people because we think they did it wrong. As a journalist i often talk about these folks and that binds me to lesser local shes. Just fascinated by checking it all for all those jobs finding out what people are talking about what is moving them. My father taught me how to ask and confront about lessons about my country and aboveboard that is why i keep going to dissipate my name is madison and i work at g. W. Ringback