Transcripts For RT Boom Bust 20240713

This is the one business show you cant afford to miss more in washington the race for a vaccine is on and pharmacy reflect that we bring you up to speed on the state of the search and how markets are moving on the news plus. You can tell that its a great diversion and it is the ruling i was expecting germanys top court has ruled on the boats were going to mission scandal offering consumers compensation for their purchases we bring you the latest on the ruling on the ground in berlin as tracking becomes a reality for some nations amid the pandemic travesty concerns are about could these moves set a benchmark for the rest of the globe we take a look straight ahead with a packed show today so lets dive right in. And u. S. Markets surged today on hopes of global economys reopening and more specifically news regarding a Coronavirus Vaccine and vaccine is what we want to focus on here at the top of the program u. S. Based pharmaceutical giant merck announced tuesday it will buy austrian vaccine producer themis bio science and would work with research nonprofit. To develop 2 separate vaccines now merck and also announced a new partnership with ridgeback biopharma bio therapeutics to work on an experimental oral antiviral drug to combat covert 19 as far as timelines for these vaccines mercks says the famous vaccine will be ready to start vaccinating volunteers within weeks while the. Vaccine will be ready for human trials at some point this year now meanwhile maryland based biotech firm novaks says it is ready to start Clinical Trials of its vaccine this week in australia citing optimism on the developments. With your knowledge you were writing to the table we know the preclinical translate very well and so are all the. Buyer for the company says it will inject 131. 00 volunteers between the ages of 18. 59 at 2 separate locations within australia novaks hopes to see results as early as july of this year and these are just a few moves happening in the vaccine space with just this week and since the start of the pandemic we have seen reports of vaccines being developed by a multitude of companies in varying stages of development which have sent share prices sky high lets go through some numbers here novak which we just mentioned has seen a 1000 per cent jump in their stock since the beginning of the year starting out the year at just under over 4. 00 per share and heading as high as 50. 00 per share and then there is Biotech Company madeira which reported positive data on its early stage human trials for a covert 19 vaccine last week well their prices have soared more than 200 percent since the start of the year moving to a no vo which has also last week reported positive data regarding their vaccine neutralizing antibodies in animals while their stock is up more than 350 percent just this year and its not just vaccines either Gilead Sciences has been working on their experimental antiviral drugs does appear which has been shown to short Recovery Time for coping 1000. 00 by up to 4 days well gilliard stock is up more than 13 percent year to date but had previously spiked much higher we will note that merck has also had some has seen no substantial gain this year but is mostly due to being a relatively late comer to the Coronavirus Vaccine race now with all the news that huge amounts of money is being made how close are we really to a vaccine that will allow life to return to normal so lets bring it to a bus cohost christie i to break it all down now christy i want to get right to it what do we need to know about all of these biotech and pharmaceutical Companies Making big bucks off the development of the vaccine despite not having a clear timeline for when we may actually have one when they may actually be working on finalising one for that matter. As for how well the vaccine business is huge as we are now and the u. S. Has spent nearly 700000000 of taxpayer money on crown of i research a lot and thats more than any other country and so the way our system works the government grants exclusivity to pharmaceutical companies in order to conduct later Stage Drug Development on publicly funded inventions and that is without requiring that these drugs be widely affordable or accessible to the public so this means that all these Pharma Companies are racing towards a huge potential payoff the u. S. G. Lacks the basic price control that other countries have giving these Drug Companies more freedom over setting prices for their products than anywhere else in the world and now on top of that as you just mentioned with all these boosted stock prices all these publicly traded biotech names are being massively inflated on hope optimism and rumor and the old saying is buy the rumor sell the news this is totally a look at all right now in any hype situation such as this one where the valuation of the company rises on hype and rumor and chatter that some sort of vaccine is in the works and has potential now of course when reality hits that there are delays our Clinical Trials are not as significant as expected as was the case with daily ad thats when you really sell the news and its interesting because in 2020 and the way things work now it appears that rumors are the news which are also kind of pushing it up because you see reports day after day of oh they might have this or theyve seen positive news in these trials but again we havent seen any any any actual evidence here and i want to move into the next stage of vaccines ok so we get a working vaccine now theyre saying this could be of course 18 months away still to actually developing and finding it then we have to produce it and then what about the logistics after you finish developing this and producing it to actually be able to administer it to the worlds population what do we have there. Yes will that be significant a lot just to go challenges around distributing enough doses for the global population not to mention legal challenges is this going to be a mandatory vaccine Going Forward or is it going to be optional now experts say that this Vaccination Program will require millions of citizens of all age groups to vaccinate within a very short span of time and this will be very difficult given the lack of robust cold chains and cold chains are whats used to distribute these vaccines especially in low Income Countries manufacturing enough doses and ensuring supply to keep up with demand will certainly tax a system and then before the vaccines can even begin theres also certain legal matters to address such as damage liability between the w. H. O. The manufacturers providing the vaccines and the recipient countries and then of course the question is of course who gets the vaccine 1st how do you prioritize countries to go where the cases are slowing down so that you can completely squash and eradicate it or do you give it to the countries that are peaking at the lower and lower Income Countries that currently dont even have good cold chain supplies in place and there kristie with all these companies that have been working on vaccines who have reported things or theres of course madonna no vaccine no for now merck involved who is actually the front runner in all of this. You know theres a lot of mixed daycare especially as all of them are in completely different stages of their respective Clinical Trials so this makes it a little bit difficult to gauge efficacy as each one is starting from a different level but all in all china is actually the one to be pulling ahead in the race to find a vaccine Chinese Research teams are accounting for 60 percent of vaccine candidates currently in human trials already now there are 2 over 224. 00 vaccines in development around the world thats almost double that of a just a month ago and while the u. S. Has the largest number of vaccine projects underway accounting for 49 percent of the worlds total china is the furthest along in the Development Track 10 vaccines have progressed to human trials globally where 6 arch. And this is the only country to have a candidate now firmly in 2 trials kristie want to take a broader look at markets lets bring in sean hiram and he joins us from dallas hes the editor of logical investor will bring you into the conversation now we talked about the broader the market surge that weve seen today and renewed hopes and optimism of a reopening and now this new merck vaccine which just sounds like theyre developing where is all this coming from it is this market positivity is it sustainable. Not only that is the stain of will because if you think about it you know the merck see said that even 18 month timeframe was way too aggressive in so youre probably looking at 2 or 3 years at best because the average vaccine takes 10. 7 years to actually get through all the trials to the public so a lot of these things are in phase one trials and phase 23 possibly face 4 sometimes and so it just takes a lot longer than people think so youre going to see stocks take another dive down once the market is really realizing this peas are way to hound the s. And p. 500. 00 the earnings are declining and youve got Retail Investor sentiment thats way too bullish and that just didnt happen at market bottoms and now chris that we have is they just discussed how Farmers Banking amid the pandemic but what do you see when it comes to overall Market Sentiment do you agree with what shawn just said here. I believe the data is definitely indicating that we are due for another pullback however there is quite a bit of optimism and hope in the market that will sustain this bullish rally so right now lock down have become laxer hope see Consumer Confidence jumped to 86. 6 months which is a good indicator found a new home sales in april also topped expectations and for all the technical traders out there the s. N. P. Crossed its 200 Day Moving Average for the 1st time since march 6th so being above that and having the 200 day as a support is quite a bullish indicator so obviously we are in the buy that when i saw the news mode so we shall see what the next when the other she will fall and i shall go and take all the other another step aside here all is now rising above 34. 00 per barrel following speculation from russia that the market may rebalance as early as next month after the historic output cuts from global producers is this an accurate assessment or is it too optimistic to count on a demand recovery when half of the world is still on lockdown. So i think theres going to be recovery you know it might end up being july august Something Like that before theres a balance but remember markets anticipate that type stuff and so do traders and investors will start running up oil in anticipation of it so i do believe oil can continue to head up higher overall now there will be volatile pullbacks for sure and theyll be sizable but i do believe the oil can make it back to the you know 45 to 55 area either side of the 200 Day Moving Average believe youll see it you know settle in and then you know there are a bit of supply there a capital out probably somewhere around in that area for a good while it i guess shot i guess the big question i have about that is when are we going to see that when do you anticipate those those numbers normalizing. I think that you know it can snap back pretty fast to those areas because you think about we almost put the market into the economy rather into a coma not just us but globally and that were kind of flipping the switch slowly back on and so theres a lot of demand thats going to come back in and help so. Some of that of course opec russia even the us shell oil drillers everybodys trying to get supply down so i think everybodys got incentive to get it back up its more of a dimmer switch than a necessarily a normal it was always there it is kristie i want to move to asia to turn us to china could to new to escalate whats the latest there. So the 2 sides continuously are pecking at each other and on monday the u. S. National security adviser obrian he publicly refuted reports that china has been engaging in espionage on us by virus vaccine efforts and that is without any definitive proof or source or backup evidence so of course thats march response in a tweet that read is this the new normal logic that if anyone has Something Better than mine then it must be stolen from me so china also called u. S. Threats to impose sanctions a big fat nothing burger and that the rights to remove hong kong from its special trade status a political bluff china reiterate that the entire western world will not follow the u. S. Because it was unable to provide enough products and Goods Services labor manpower and compensation to offset the losses if the western countries become alienated from china so this is tragic but you know much of the rest while in a very difficult position to choose one side and risk the consequences of the other shown hyman of the logical investor and boom bust cohost christiane i thank you both so much for that expert analysis. And there may be some relief for the thousands of consumers swindled by the volkswagen a missions cheating scandal after ruling in a German Federal court monday arties peter oliver is in berlin and files this report. Diesel gate scandal just wont go away as germanys highest civil court has ruled that volkswagen must buy back from customers because that would design to cheat tests. Another political demand reimbursement from the defendant for the operators because of his medical according to the current condition of be a comedy almost a mechanic or you will go into. This ruling has set precedent for around 60000. 00 similar cases across germany that are currently pending the w. Has already settled a previous claim by almost a quarter of a 1000000 german car owners by paying out just short of a 1000000000. 00 the automotive coalesces accepted the ruling and put out a statement saying theyd be in touch with those seeking compensation. Volkswagen is now seeking to bring these proceedings to a prompt conclusion in agreement with the plane and we will therefore approach the plane as with the adequate settlement proposals worldwide volkswagen is forked out around 3000000000. 00 in fines compensation and buyback schemes since the scandal 1st broke in 2015 the law and share of some 25000000000 going to customers in the United States the emissions test cheating scandal continues to rumble on in july the same court that made the ruling on monday will be hearing the case against dealerships that sold the cars while senior current and former v. W. Employees here in germany are still facing criminal charges over their involvement in the scandal. And time now for a quick break but hang here because when we return as tracking becomes a reality a person nations of the pandemic privacy concerns are about to put this movie set a benchmark for the rest of the globe we take a look straight ahead and as we go to break here the numbers at the close. Cold war 2. 00 targeting china is off the ground gaining momentum some see china must pay but the. Others claim it is an existential Security Threat to the washington world still others say washington can see live in a new. Media. Reflection of reality. In a world transformed. What will make you feel safe. Isolation or community. Are you going the right way or are you being led so. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or im a bit loose shallowness. You need much needed help with this too is human and we said. Just that hamas. Is not that uncommon i know but im also the most companies he knows ive been there gives easy to please not emotional when i meet. His compass he most people almost pianist even though he goes from didnt you know to speak to c. B. C. As pro you try to coax. Him with them and im going to hit a thief enough to not mislead him a little q i dont like kind of these people will. Look it is. Always stay in this. Come up to your list. So to you and see you so no men because he. And welcome back as we discuss markets surging amid hopes of reopening economies and the prospect of vaccines its time to take another look at the trends and spread of the crowbars with r. T. Correspondent side temperature so it looks star in the us here whats happening today so 1st globally there is now over 5600000 corner of ours cases reported and more than 1700000 of them are reported in the u. S. Whereas the death toll has now approaching 100000 people but the good news is that the pace of new cases and that is slowing here in the u. S. So some of the hardest hit states like new york and new jersey have reporters sharp downward trend in new cases while other states from oregon to pennsylvania are also showing signs of progress but even as the picture of the national the National Picture improves overall about a dozen states are also reporting a small increase in in numbers now as states that opened earlier are never fully shotgun are among those that are signs of further spread for example bama florida georgia North Carolina tennessee are among the states that had a recent growth in new cases and several weeks after reopening now arkansas and north dakota 2 states that have shut down businesses but did not issue formal stam home orders also are reporting it increase in cases now washington d. C. That has been actually on lockdown for weeks and also saw it jump in increases in new cases and theyre planning to reopen phase one on may 29th but now also want to take a look at how the u. S. Compares to the top 5 countries affected by the virus by their number of deaths now while you see here. U. S. Actually in the number of deaths its going down and there is 2 countries that are increasing are brazil and india vs and russia actually all 3 india russia and brazil youll see the trend there are actually increasing in debts worse as us and the u. K. Are actually going down so this is where we are at the moment in terms of just the countries in their trend in the number of that rant and what about nations worldwide with the most new cases that were seeing right now so the list of the top 5 countries with the most new reported cases and this is monday 525 now you have the u. S. Which is still leading in terms of the number of cases they have 1. 00 and then you also have but then we have total deaths to again u. S. Is number one and then number 2 is brazil not just within the last 24 hours brazil has reported over 13000 new cases followed by russia 8900 cases and then india 6400 and peru over 4000 cases now proof for example is one of those countries that was actually one of the 1st in latin america to take extreme strict measures but the problem is countries like peru 49 percent of the population of their own are for a greater so its very difficult for them to actually stay at home and to actually follow strict orders because thats what they need to go to places like a market where its extremely populated so thats been really difficult for them to contain the virus and then you have india where the most of the spread of the virus has been in the Financial Hub and then we have russia that seeing a lot of new cases that are now become become number 3rd theyre climbing up and up as. See and yet there are death toll is relatively low compared to other countries and then brazil it just seems its been climbing every single day so thats one country that everyone is watching right now to see how brazil is going to be containing this virus r. T. Correspondents are tabular thank you so much for keeping us up to date. I. Am in the midst of the crow virus pandemic National Governments and big tech are racing to create massive new forms of Contact Tracing chinese authorities are massively expanding the use of Health Tracking apps while simultaneously creating individual rights for chinese citizens and their data meanwhile the telling government is recruiting 60000 socalled civic assistance to report on covert 1000 Rule Breakers and joining us now is just this boom bust cohost and investigative journalist ben swan ben thank you so much for joining us as always now china is getting ready to enshrine individuals right to privacy and personal data for the 1st time it is a symbolic 1st step as more of the or more of the country of 1400000000 people become digitized what exactly is china attempting to do here. So its somewhat unique people are i think generally surprised to hear those that phrase china and individual privacy so theyre oh whats going on but what china is essentially doing is recognizing it has a fast growing set of the internet you know Internet Usage there is extremely high data usage is extremely high and Data Collection is extremely high and so what china is saying as a country is that there needs to be some protections put into place to really protect an individuals rights and privacy online and what theyre doing is theyre kind of creating a system that would do that now so far in the legislation theyve created is without very many specifics as to exactly how it would work but again its fairly in. That they would do this it is important to note though this is relating to Internet Companies and Data Collection companies not the government so there the issue of privacy is for Tech Companies here and their socalled protections or their socalled protections do not protect from the Chinese Government correct. Yeah thats exactly right the government is not going to be a part of this when we say that china is creating individual user rights in terms of data and privacy does not include the government which has as you know some of the most intrusive and data monitoring apparatuses in the entire world the chinese are very concerned about whats online and what chinese citizens are seeing so theyre still controlling that and you do not have a right to any kind of privacy in china from government surveillance but the chinese are saying you should have some right in terms of your data and privacy when it comes to these Tech Companies and so thats what theyre working on create and i want to cover this italian has to be a privacy of Italian Government is preparing to recruit jobless people to function as a volunteer social distancing enforcers of the government will recruit up 260000 suppose that civic assistance to perform functions such as reporting social distancing offenses or any absence of mass is this something that will actually come to pass in italy and will it stay that only there or is this going to spread out to other nations in europe and maybe the rest the world. Yeah i can see it staying only there i think the correct term it should be snitches there are going out and getting 60000 people to snitch on everybody else and look the idea is were going to monitor whether youre wearing a face mask how close you are to other people there is a bill in the United States is attempting to do a very similar thing that would recruit again people from nonprofits to monitor their communities and so this is theres a tech angle to this but theres also the angle of governments hiring people with taxpayer dollars to monitor each other and i dont see how that ins will for most people cohost bents one thank you so much for that excellent insight. Thanks. And finally chinas Space Program is set to launch a mission to mars according to officials in beijing now the plans include an orbital probe designed to study mars as well as a robotic rover to explore the surface of the red planet now this is the 1st Rover Mission to mars for chinas Space Program which has announced efforts to expand its Space Exploration efforts these plans include. Development and launch of their own space station above earth by 2022 as well as a possible mission to land chinese astronauts on the moon and a programming note here on wednesdays boom bust we will be taking a deep dive into the world of commercial Space Development as space x. Will attempt to become the 1st private company to launch humans into orbit and thats it for this time you can catch boom bust on demand on the brand new portable t. V. App available on smartphones through google play and the Apple App Store by searching portable t. V. Or stream us to your t. V. By balogna portable t. V. App on apple t. V. And online at portable t. V. Keep an eye out for a variety of content coming very soon find it all now have portable t. V. See you next time. And. Thats. That you could still see it i have. Got to do nothing in the distance had this happen and i dont think anything. This is the only thing we do is music because everybody is on its. Way. Through on. That given that. What i see is this is the. I want. You cannot be both with me yet you like. The one else chose small seemed wrong when all roles just dont hold. Anything in the world yet to shape out just because the educated and indeed trained equals betrayal. When so many find themselves worlds apart. Just to look for common ground. Welcoming our viewers from around the world live from Central London this is all to u. K. Prime minister Boris Johnson gets ready for a showdown with parliaments powerful Liaison Committee where hell be forced to answer questions about his chief advisors controversial lock down the trip to durham ill be talking to a political expert shortly. President Vladimir Putin says the worst Case Scenario has been averted in the russian capital allowances the moscow mayor says shops will slowly begin to reopen in june. The report blames u. K. Health service privatisation to be on going failures to get to to get to medics carers treating coronavirus patients on the front line. The portugal discuss establishing and between the 2 countries that would allow tours to avoid quarantine when returning. And also the way it was called for play it out says analysis of English Councils find some of the poorest authorities are losing out we hear from a Council Leader calling for a fair and occasion of emergency funds. Prime minister Boris Johnson is preparing to face the influential commons Liaison Committee just on the hour from now where the lockdown behavior of his chief advisor is expected to be top of the agenda the only cummings is defended his trip to the Prime Minister has backed his story is both reasonable and legal boss many opposition and govern m. P. Strongly disagree that it was dusty is here in the studio with me with all the latest so shut up can you take us through what might happen this Committee Meeting yes so the problem actually a committee in just under an hours time is notorious for being one of the toughest committees and western. Instance so grueling in fact that Boris Johnson has missed 2 of the previous meeting since hes become the Prime Minister now of course top of the agenda will all be about the soccer thats under going to dominate cummings and his latest shenanigans we know that downing street are very keen to start this story of oxygen so Boris Johnson today will really have to try and ride this one out now essentially the committee is made up of chairs from all of the select committees it will be divided into 420 minute sections and roughly last 90 minutes unlike all other Committee Meetings it will be separated into sections based on topics now the 1st section of a say will be on Dominic Cummings trip to breaking those rules travelling whilst on well he of course claimed though to drive to bernard costal to test his eyesight but by Boris Johnsons calculations the hope is that jenison m. P. s will just move on because of course theres plenty of other issues to move on to and they will be discussed in the next parts of the committee increasing including test track and trace p. P. And care homes now the final part of the committee will look at how the governments road map will carry on to unlock this lockdown so the real punch of this Liaison Committee meeting will be in the section on Boris Johnsons right town man Dominic Cummings it seems though even if Boris Johnson to wear face the spanish inquisition himself he would really be keen not to change his mind and cling on to Dominic Cummings as long as possible but there are in fact 400 sir tory m. P. s that really want to see Dominic Cummings walk the plank with all of this but the problem with them is that they are not able to form a united coherent campaign a coordinated one against him could be perhaps potentially because we are at the heights of lockdown and could also be because we are in the middle of the parliamentary recess as well the thought is that if they were able to be physically present in westminster they may be able to put more. On the Prime Minister to let his right hand man go the polls so are telling a slightly different story over the last weekend weve seen the governments ratings as well as Boris Johnson the Prime Ministers ratings completely go down as a result and thats why these 5 m. P. s will really be trying to hold Boris Johnson on the government account so lets just write down these m. P. s for you who exactly they are not the 1st one is not jenkin m. P. Hes a pro. Tory m. P. Who chairs the Liaison Committee hes remained silent really in the past over Dominic Cummings but had particular issues with him potentially particularly around the vote in the campaign so he would like to appear tough weve also got cooper shes a labor m. P. Shes known for asking very difficult questions and the party line of the labor party is to be very critical of Dominic Cummings Boris Johnson will also then face all of the chairs of the Scottish Affairs Committee Northern ireland a 1st committee and also the welsh Affairs Committee they have different stances when it comes to dominate comings but mostly they are critical particularly over in scotland because of course over that scotlands chief medical advisor was forced to step down for potentially flouting the measures herself so really many people will be very angry indeed with Dominic Cummings the real problem though and what this is all bringing to light is essentially how much of this public anger translate and form a public readiness to flout the lockdown measures themselves of course many people in the public will be asking the questions if theyll make cummings can interpret the rules in his particular way then why cant we and that really is the crucial issue and focus of today. Thank you very much indeed for that its well to discuss what Boris Johnson might be up against in the next hour and home of his premiership im not joined by associate professor of politics understood joe. But do you understand how this is make or break for johnson is not. If it gets through today what it all then just blow over he would love it all to he is of the opinion that Dominic Cummings is explained everything clearly that Dominic Cummings hasnt apologized for anything but is no need for anything and that he will explain it to the Liaison Committee very well accepted and then we can move on to getting moving to the next stage of the lockdown for releasing the lockdown the problem is Dominic Cummings is explanations as to what happened raised more questions than answers the contradictions with his wifes versions of events which are published in the spectator hugely problematic where every broke the lock down rules or not this Huge Division in social media and in the public as a whole saying yes kind of saying no all the opinion polls seem to search one 3rd and the reality is even if Boris Johnson gives a stellar Performance Today this is not going to go away it is such a polarizing issue people are very very angry that they have been unable to do the things they would normally want to do plus the things they dont want to do that they felt they ought to such as attending funerals the whole host of other things and Dominic Cummings potentially infected his wife to new york suburbs 260 miles they see it as one group for the elite in london and one rule for everybody else so that anger is still going to be there and the reality is as long as the ngos and the public media are going to stay focused on it and the story will not go away in some respects its going to be almost like the john major days when in the end he lost 2 cabinet ministers because he couldnt psyche the mended up to say that both david miller and Norman Lamont interesting you say that theres Boris Johnson a precarious position but and of course many tory m. P. s that they want cummings gone but they really have to be careful they dont want to damage johnsons premiership too much to lead well there is speculation that if come in it doesnt go johnson does and for many syrian peace they voted in boris jones. Once again greg sit down that was his big thing that was i think in the general election and hes delivered 10 out of 10 were leaving of the 31st of december theres going to be no b. Extension to the transition period so hes done his job the reality is is not necessarily seen as the most appropriate its type of leader for this type of crisis and the fact that hes willing to stand by as a political advisor has really lifted and compelled the cabinet sweets in support of it is pushing it beyond the limits of the daily mail one of the most stalwart conservative newspapers are questioning his abilities so it may well be that there are those in government who think this may be that so im not to get rid of i speak friendly bars and get someone who can be a lot more serious in place so soon in his tenure as extraordinary here this Boris Johnsons job could be on the line but of course on the other hand if he sacks cummings now he will actually look even weaker there is standing by him but of course i mean hes got hes got to push this through isnt it because if he does that that really could question his leadership is between a rock and a hard place now the reality is that Dominic Cummings come out and said look im sorry yes i broke the rules but heres why and then explain the story he would probably have got somebody with the fact that cummings wouldnt say sorry the fact of Boris Johnson has backed into the hill is such now that that super and expect to get they think they cant be separated so if burris does sack cummings then he is going to like a weak Prime Minister who has been compelled by the public and by the backbenchers to change his mind again because hes already changed on other issues so the problem is going to be hes going to echo a weak Prime Minister regardless of what happens so we could be talking about the end of days for him as Prime Minister well lets see what happens during this Committee Meeting which is imminent in the meantime thank you very much indeed allister jones. Well lets take a look at how corona virus is impacting the 4 nations of the United Kingdom according to individual Health Authorities there being 209 deaths since yesterday and h. S. England has reported 183 hospital deaths the scottish 1st minister has announced a further 13 deaths across all settings and wales has reported 11 northern and 2. Scottish politicians are calling for an urgent Public Inquiry into scotlands approach to care homes during the outbreak 1st minister faced questions over an alleged rush to discharge patients from hospitals into homes without testing back in march and the welsh Evidence Service says the patients are becoming more and more abusive towards Staff Members and wasnt aware faced moss says hostility towards crew members who try to enact it has been on the rise with some facing physical assault and although not and has been warned that the number of its Freight Companies are set to go bust despite easing the lockdown measures the Freight Transport Association predicts that while firms may have survived the crisis period many will fail in the coming months. And others take a look at the global numbers more than 5600000 people have been infected thats according to Johns Hopkins university which collates global data and over 2300000 recoveries be made over 351000 have died. Well the question of ma square has become a point of political divide in the us it comes as joe biden hit back at President Trump after he was mocked for wearing a mosque on memorial day and swedens former chief epidemiologist originally supported the countrys no lock down policy has made a dramatic u. Turn she now thinks we should have imposed greater restrictions that it was wrong not to shut down. Still to come this hour. President Vladimir Putin says the worst Case Scenario has been averted in the russian capital ill be talking to our correspondent in. Britain portugal discuss establishing what it would allow tourists to avoid quarantine when returning. Plus analysis of the governments emergency funding to find some of the poorest hardest. Hit from the leader of one such authority shortly. Is your media a reflection of reality. In a world transformed. What will make you feel safe from. The isolation or community. Are you going the right way or are you being led so. Direct. What is truth what is faith. In a world corrupted you need to descend. To join us in the depths. Maybe in the shallows. Seemed wrong why dont we all just dont all. Get to shape our disdain for it comes to cancer. And engagement because betrayal. When so many find themselves worlds apart we choose to look for common ground. During an Online Meeting with moscows mit president Vladimir Putin the said the worst Case Scenario has been averted in the russian capital thats the shops were slowly beginning to reopen in moscow next month aunties moscow correspondent igor shouldnt of joins me now on the go or so so what is then happening there in the russian capital. Well abella long story short moscow is starting to get back to normality indeed lot of news took the most the message is about in an online Video Conference and essentially now most local authorities here in the russian capital they have rolled out the table that a plot a least step plan and you very short term measures as to how the russian capital will be getting back to normality it is indeed as you mentioned it implies the opening of the nonsense still is also gradually reopening natural to a lot of people having well slowly to open them and let people who can that their hooks and also to start to reopen businesses that do not imply a close human contact like for instance the dry cleaners but perhaps even more importantly now moss who is ready to help the regions because for instance the russian capital has a sort of descent drop in new cold in 1000 cases compadre 2 weeks ago more people are being released from hospitals than admits to them so now that i know that there are a few of patients here on the mall not the medics mostly time on their hands they are ready to share their knowledge to ostend their knowledge to other regions of russia was defective by now already most of the leading specialists i mean via Video Conferences they have been doing sending us with their colleagues elsewhere in russia explaining in teaching the posse on their experience as to how to treat as you say people with code 19 and becoming a couple of days the russian capital also said its specialists to other countries then will travel to their excuse and the russian regions of. Where they will be there where they will be saving patients for instance like doug just on what the lot of the region to region and so on. Or so this is what is happening in russia moscow what moscow is Getting Better and is go. See in rest of russia is not looking for it looking for its capital to help out and its ready to deliver igor thank you very much indeed for that live update from moscow. Reporters blame privatization of the own going failures to get protective kit to medics and care is treating coronavirus patients on the front line while the government insists the situation is improving campaigner says simplified accountable supply chain is desperately needed or because these are early reports. Governments handling all of the coded 1000. 00 prices has come in for sharp criticism especially given the country has the highest death toll in europe 2nd only to the usa globally with measures Virus Testing and the seeming hypocrisy of those who put the strategy together of all bit on the mark possibly the most controversial has been the ability or inability to source personal protective equipment for those on the front line i think its been its been a real tragedy but its more the tragedy than the scandal because what weve seen time and time again is that the government. Is you know actually undermining the very organization the n. H. S. And helped get out as many as 200 n. H. S. And Health Care Staff believed to have died with the virus across hospitals and other settings with relatives blaming a lack of kids and even the British Medical Association backing those doctors who refused to work without it now reports and laid the blame with the Health Service the supply chain and in particular the privatization of the 70000000000 pound procurement process the study by we own its a Public Ownership Advocacy Group says the breakup of the chain into as many as 11 out contracts means financial inefficiency and the backdrop to this is that the government has been cutting and privatizing our n. H. S. For over 10 years you know so the n. H. S. Doesnt have the levels of funding that it needs and the kind of funding that we see in places like germany and france according to the report the government could toss Civil Servants with sourcing the kit for the Health Service directly from private Companies Instead the government tossed private companies some suppliers who in turn select those firms making specific items like council mosques as well as those who deliver the kits. And it just trusts of even told not to source their kit but to go through the centralized system and while supporters of privatization say competition saves money the report estimates that the middlemen cost 190000000. 00 pounds in fees alone and there have been high profile examples of system breakdown take those 400000 gallons from turkey an hour after plane went to collect all were found to be below medical standard and useless for front line stuff but despite the obvious issues the government has previously defended its approach to push him into p. P. I can announce that we have now signed contracts to manufacture 2000000000 items of p. P. Here in the u. K. I set a National Challenge and im absolutely delighted that lord dighton has stepped up and is helping us to deliver against it around the world weve signed deals with over 100. 00 new suppliers including agreeing contracts for a further 3700000000 develops. Well we continue to improve the logistics and work hard to get everyone the p. P. That they need these new supply mean that were not simply keeping up with demand we are now able to begin to replenish our stock we also the problem for health and social care for direct response to the reports on the impact of privatisation on the process but it doesnt get back to us but we do know that profit and efficiency thinking suppose that saving very unlike you know people live and. Have been prioritized over people so you know the job of the Health Service is to make sure that we can all be healthy that we can be had or. You have to plan ahead you have to have an emergency stop have to be ready for a pandemic the government hasnt been ready that inquiry into the coronavirus sponsors expected to cover the scientific advice and the political Decision Making at every stage of the pandemic but campaigners believe a more fundamental review into the close relationship between private companies and government is paramount if oversight and accountability are to be achieved especially given that the end result in this case is a life or death issue is sadly our to u. K. Law and that. Britains returning from portugal could be exempt from a 14 day quarantine when returning home thanks to a potential deal between the 2 countries starting from the 8th of june all International Travelers arriving in the u. K. Must for 2 weeks or face a 1000 pounds fine but if a deal is agreed both british and portuguese holidaymakers would avoid the self isolation upon arrival talks between the countries are in an initial phase. The nations struggling to pay for mounting costs of coronavirus with wales to receive 23000000. 00 pounds in additional funds from the treasury the money will help fund its track and Trace Program as well as hell. Rough sleepers so they arent outdoors during the crisis however in northern an instalment says as many as 5 of his departments could run out of cash by the end of july if additional money isnt released by whitehall that says analysis of funding him out to support English Councils has found it isnt going to the areas that need it most because regional deprivation wasnt included in government calculations. Or because deprivation wasnt included labor held virus hotspots such as sunderland mostly in merseyside and sheffield lost out on millions in funding when taken as a percentage of total Funding Councils including mosley blackpool and South Tyneside all lost out over 30 percent of their budget in Additional Support but richer mostly tory run councils benefited from the calculation with authority such as working assigned over 80 percent of its budget in additional funds to fight the virus the government says its funding was allocated differently to address different needs were providing councils with an unprecedented 3200000000 in the fairest way possible and giving them the resources to tackle the immediate pressures they have told us theyre facing the 2 tranches the funding allocated in different ways because they address different needs but shit be considered together as the true picture of this Additional Support. For more on this im joined by the leader of Sunderland City Council graeme milligram really good of you to be with us today now the government says it has allocated the funding fairly so i can explain how your council has lost out on 3000000 pounds and i can because the governments line is a lot. More our cheated feel the 1600000000 of the 1st tranche that came to all call authorities in england was incorporated deprivation and need with a formula to determine how much youve got. Got 10600000 pounds. And the 2nd tranche of 1600000000 the government changed the formula without telling us they just changed the formula to remove that deprivation in need and some dylan deceived 7600000 pounds and as youve already pointed out it meant a substantial amount of money in the 10s of millions of pounds going through. Our Northern Councils in england to ritual shyer councils in the south of england and it was terribly unfair and it absolutely was not giving the local authorities what they needed to help laying them to what do you think the reason is behind this lack of parity. The i think its a very simple and political and piece of shit canidate the government have pumped more money to tory Shire Council was because they were screaming out for more cash and theyve taken it from Labor Councils in the north its a simple as that sunderland people lose 3000000 pound so that somebody council can have more money and its grossly unfair what impact is this having on daily life and something well on daily life life goes on at the moment bill what it means for the came so however is that whilst we have received 18200000 out of the government and that period and all money is welcome i always accept money weve also had to look at what the cost of the council offer dealing with the call that 1000. 00 places and currently were setting it soar to 1900000. 00 pounds for sunderland which means ive got a 23700000. 00 pound black hole and might budget which we have to find a way of closing if the government does not on the rich pledge which is what Boris Johnson gave at the start when he said deliver the care and we will supply you with the money no the government needs to remember the pledge to give us what was needed and they havent given us anything more. Take what was needed now as we get to the end of the year if this black or continues to be the councils across england are going to be in a very very awkward place about how do we balance the books because we have a legal duty to balance our books or we must issue section 11. 00 for noises their fate simply see that were bankrupt because with our own money so were not all councils facing the dilemma you are and as we know some of the benefit of better than others what about the chance of asking those councils to give the money back to help the likes of you. They want why why would any local authority if you just pick one for example of us picked sorry why would sorry give sunderland any money when liverpool could be asking for or newcastle could be asking for it or you know all sorts of local authorities across the country may be in the same position as some will and its not to cause an argument or a fight between local authorities were all under pressure here right this is a National Government decision the National Government has to live up to its pledge to fund local authorities dealing with this Health Crisis and its for them to find the money to enable places like sunderland to basically deal with the crisis and then make sure that were not financially councillor Graham Miller thank you very much indeed for joining us live here not ek. And thats for a man who feeds off american the promise appearance before the commons influential Liaison Committee we can expect him to be quizzed further on his chief advisor Donna Cummings a lockdown trip to dharamsala dont miss it well be here covering the. Cold war 2. 00 targeting china is off the ground gaining momentum some say china must pay for the endemic while others claim it is an existential security trick to the washington world still others say washington tin can see he lives in a poll that will. Only. Give me too much. Time he said. Theres an awful lot in common im old but im also the most companies you know so im going to give those is. Not emotional when i meet. Those companies he most people almost home pianist to me nobody goes to him didnt you know this was going to say he is pro you know i called. Someone im going to hit a safe enough to know whos who live in the new i dont like come on this. Little kid. They. Come over to your list. Because he. Time after time they were going on the ground on the 80th anniversary of the dunkirk design. Seeks to harness the dog. Experience desperately clinging on to a top advisor credited with putting him in power and winning britains brecks it vote against neoliberalism coming up on the show the chief advisor Dominic Cummings may not be a member of the tory party but one former Tory Health Minister did resign over a health care scandal we asked margaret thatchers Health Minister if we dont carry why britain has the worst but capita coronavirus death toll in the world and should coronavirus survive Boris Johnson be in trouble look because of an infected advise that visiting a console to test out his