Take a look at this map who really owns what kind of says no it belongs to us india says no we claim that that belongs to us both of these countries have Nuclear Weapons capabilities there is reason for concern so thats why were going to drill down on this story for you today right here on the news with rick sanchez where you know as we always like to say we do believe by golly its time to do news again. This is the one business show you cant afford to miss friendship or in washington coming up the e. C. B. Is forecasting a major hit to the eurozone economy due to the cope at night outbreak and this comes as the European Union is i. A major stimulus package to save the regions economy and if the coronavirus continues to pound brazil as the latin american giant is now the new epicenter of the virus we breakdown the told the disease is taking there and around the globe and later. A new era of private Space Development lies over the rise and what the future holds for the growing sector we have an expert panel standing by live a packed show today so lets dive in. And the eurozone economy is doing worse than initially expected facing a recession as bad as the European Central banks worst Case Scenario according to e. C. B. President Christine Legarde now economic output in the block is that the contract between 8 and 12 percent this year old guard pointed out previous estimates of the milder downturn are now out of date the e. C. B. Will release official projections for Economic Growth and inflation in the block and next week meanwhile the European Union on wednesday proposed a 750000000000 euro recovery package to help Member States deal with the recession brought forward by the ongoing coronavirus pandemic president of the European Commission spoke about the situation. The aim must be to invest together and our common good we will be bold by raising unprecedented amounts of funding at european level we will be focused by channeling the funding to the new priorities that will shape the future. And to achieve this were setting up the next generation you were 750000000000 general we will use the bulk of this money to help Member States recover from the crisis and build up their long term resilience cut by city. And for more on the state of world economy. And professor Richard Wolffe host of economic update and boom bust cohost christine ah i lets start off with you professor wolf we actually had a question here for you actually the Vice President of the e. C. B. Has actually backed the unprecedented stimulus packages launched in the region and now fiscal deficits are expected to widen even further what are the financial repercussions of this and is there any other alternative. Well for this situation has been allowed to be cheerier a neuron x. Hold sure a unicon wave forward economically and be hard to achieve one last launch that informants are literate and can eat grass should do without 8. Or enormous. I think they are actually going to grow an enormous amount of money it made them very well not be enough they had hoped to somehow just live through were not looking at her long term consequences at all one from. Rachel missed one kind from commentary consequently in that way didnt like the United States of your girl huge amounts of money cross your fingers dont really hard at what the consequences because unless you get through this crash the man will be nothing to worry about our because greece is going to rot really finally crash its that remembering tends to be that makes them mad who are admitted going to be our earlier predictions were out of date theyre going to head home to slip through them very very serious a problem for europe and now kristie kind of the same point the same day that the e. U. Proposes a 750000000000 Euro Recovery Fund japanese Prime Minister shinzo abbay approved a new 1. 00 trillion dollars stimulus package whats included in that package. All those packages are really significant not only because of the sheer amount in the package but also the scale of it it significant as it includes direct spending measures higher medical spending rent subsidies and business subsidies now this new package will take depends total spending to combat the crown of virus to about 2. 00 trillion dollars or about 40 percent of gross g. D. P. And to further modest putting this into perspective this lending is now approaching the size of the u. S. s who is currently sitting on top with 2. 00 trillion in 8 programs so now in order to fund this japan will issue an additional 31. 00 trillion yen and government bonds which will push the new j g being issuance in this fiscal year to a new record of 90 trillion yet and analysts suspect that this may not even be the end of it and there could even be potentially a 3rd round of helicopter money and if it does depend may say its the very real possibility of a credit downgrade which would be just disastrous for the economy now professor if i wonder if youre here because as hostilities intensify between the 2 sides how bad could relationships between china and the u. S. Actually get could this turn into another full on cold war and what will it mean for the economy Going Forward and i just want to point out that you know weve had some new news about the c. F. O. Of wall weigh in there Canadian Court case as well for extradition so there are a lot of things happening here that are not going to help necessarily relationships between china and the United States. Well i think what you need if i can play with a historical parallel which is really all we have to go on is a little bit like what happened after world war one as part of the Great Depression contrie strategy to get it through with a minimal they quickly discovered that you know hold that the invisible hand of capitalism will heal itself that wont turn out the want real well so then they try to get it law and with a little then ill. Little isnt enough and they have to get by with more then there begins to be resistance so bend a turn as you can see were doing to bash in the us are now trying to push themselves at the expense of somebody else badmouthing of our american dumping on immigrants and now the cold war revival with china its a way of deflecting attention from the difficulties and theres somebody embroil how far can it go all that bad the answer depends on how desperate the 2 started so hard and since the initiative ear comes from the United States and not from china for all kinds of reasons the bottom line now is how desperate will trump and the g. O. P. Become as we get closer to election time to face a crisis which they will need to blame on someone and the work to make back someone china is what were watching now and now chris i want to talk about this because we have the r. And b. Actually crashing to record lows against the u. S. Dollar amid these tensions between the u. S. And china whats happening in this escalating battle between the 2 superpowers on your own your opinion there. Well the reason for that particular leg down this morning appears to be coming from 2 of chinas most valuable u. S. Listed Mega Cap Companies who are now pushing ahead with multibillion dollar share sales and hong kong now this comes as u. S. Lawmakers are putting additional pressure on Chinese Companies in order to disclose their Financial Information either that or face delisting from the exchanges so the companies now are net in sync which is an Online Gaming company njt dot com the economist dion whos often compared to amazon the 2 company about aiming to raise about 2. 00 to 3000000000. 00 in a june listing and by the google china is also exploring options of doing a secondary listing in hong kong or elsewhere and now this is a have major ripple effects across the entire Investment Community as china has remained the premier growth story and a major allocation in any Investment Firm portfolio so i back want to argue that the entire ball rally in the last 10 years apparently driven by the china growth he says so by restricting access to Investment Opportunity this will severely impact returns and my delisting where essentially just invoking another barrier and restricting capital flow in the market so those will have the tremendous results and opportunity loss on both sides us companies will have access to u. S. Capital and u. S. Will have access to china growth professor richard wolf and Kristie Arcos thank you so much for that expert analysis. Thank you. Lets take another global look at the trends and spread of the coronavirus with our 2 correspondents. We world wide today so brand worldwide the virus has now affected nearly 5800000 people and killed over 350000 heres whats going on globally so i made this pie chart and im looking at down by regions that have kept some countries although i happen not mentioning them to show for example in north and like in europe there are other countries be in effect that so 1st im going to be talking about confirmed cases so the most cases have been in north america obviously in the u. S. Where theres been 1700000 cases and 1100000 cases which are actually still active began lifting the restrictions and people are allowed in some places to go back to restaurants and offices and places overall worship now moving over to europe these 5 countries have been hit the worst u. K. Has at over 267000 current cases followed by spain 236000 which italy is not too far behind 231000 france and germany are behind these 3 but their numbers are significantly lower and all of European Countries have started easing some kind of restrictions for example in italy while foreigners cant visit yet locals are flocking to their beaches now moving over to asia where russia and india have had the most confirmed cases in russia currently has over 370000 cases and moscow will began to gradually ease some restrictions starting june 1st and india has about 157000 cases and most of indias cases are concentrated in the in the western area which is home to the Financial Hub and then we have said. With america where brazil and per rule are seeing a number of confirmed cases now brazil still has the most at 400000 cases but many Health Officials worry that number is actually about 20 times higher now over to the middle east iraq is still leading with 840000 cases and their newly elected 268 Member Parliament met today and images from the meeting showed that many did not even wear masks and did not observe a social distancing either now lastly in africa right here south africa still has the most confirmed cases with over 24000 where they will begin to ease restrictions starting june 1st and i want to go over to the next chart which shows which countries have the new new list cases so u. S. And north america is trending with the most cases but its actually that trend is going down which is why some states are starting to lift a lot of restrictions and so whats really significant in this picture is that some countries are appearing to have significant increases in new cases in asia russia and india are seeing new increases daily and even lower to south America Brazil is still seeing the most chile and mexico are also following in new confirmed cases that were seeing within the last 24 hours now moving over to the middle east were as iran has had the most confirmed cases could tar and saudi arabia are catching up where theyre getting a lot of new cases and then we have in africa you can see this right here but south africa still leads in confirmed cases but at a very low number and then lastly we have europe which United Kingdom has had the new cases but last. I want to talk about the number of deaths which has had 100000 in north america in the us this yesterday actually and now whats the difference is that in europe to mortality rate is a lot higher as in the us the mortality rate is about 5. 9 percent in europe differs between 11 to 16 percent and in south America Brazil is also still leading with number of deaths in mexico asia and china there is about 4600 deaths and but with the crazy thing here is verses in asia with a population of 1400000000 people we have in the Us Population of 330000000 where the mortality rate has been a lot higher. Correspondents thank you for keeping us up to date. Time now for a quick break here because when we return a new era of private Space Development over the horizon but what could the future hold for the growing sector we have an expert panel standing by and as we go to break here are the numbers at the close. In charting the future we depend on the computing to proceed it is time to assess the economic damage is the price and change the game and if theres going to be. Are there lessons to be learned. Is not. The most companies you know. I mean nobody goes from didnt you notice. You. You see this. Kind of this. Kid is he. Only. In this. To you in this. Case the. I. And welcome back when z. Is an historic day marking the 1st time a private company has carried humans into earth orbit with a final destination of the International Space station 2 nasa astronauts retired marine corps colonel doug hurley and air force colonel bob behnken will take flight in space x. Crew dragon capsule atop the companys felt in 9 rocket the rocket will take off from the historic pad 39 a Floridas Kennedy Space Center the same starting point of apollo era Missions Including the moon landing in 1990 now after the falcon 9 launches the crew dragon into the upper atmosphere the capsule will separate from the rocket and begin heading towards the space station the falcon 9 rocket will then return to earth where it is supposed to land on a drone ship in the Atlantic Ocean northeast of Cape Canaveral for reuse this also marks the 1st launch of u. S. Astronauts from u. S. Soil since 2011 since then the only way to set astronauts to the i. S. O. s has been on russian rockets launched from kazakhstan and now when it comes to the cost of these flights a 2001000 report from nasa is office of the Inspector General says seats on russian soyuz launches have cost as much as 86000000. 00 each and roughly 55000000. 00 on average over those last 10 years now the same report estimates seats on the crew dragon will also cost about 55000000. 00 with all that said lets take a look at the significance of this moment and the future of commercial spaceflight with the executive director at the center for space commerce and science and Rick Tumlinson who is the founder and chair. The men of space as well as the cofounder of the space for interior foundation thank you both for joining us on this massive day here rick i want to start with you i how monumental is the 1st manned space flight to enter the International Space station put on by a private company how big is this. This is huge. You know this is where weve been listening to for. 30 years and this is the beginning we believe and it is ryan school were. Human beings in the space not using the gateway or the airline. That the government now has and instead of opening it up more and more people where we can expand create an industrial plant. And gentlemen i have some unfortunate and breaking news right at this moment it appears nasa and space x. Have been forced to postpone the flight i know there is some weather conditions that were coming up were getting multiple pool reports from multiple sources but that doesnt take away from this conversation because this is still a monumental moment i believe theyre going to reschedule it for the weekend so erin i want to talk about this more we just mentioned the cost of these flights costing nasa roughly 55000000. 00 versus the upside of more than 85. 00 when were launching out of kazakhstan are these savings going to actually make a big difference in space exploration. Oh absolutely. So its something to not its not just about the per se cost but also about how many people you can send at 1. 00 time so you think about the International Space station and this is the primary purpose of this crew dragon it requires constant nature maintenance and part of that is due to age but also because were in a how this environment with a lot of experiments and kind of learning as were going so the savings on percy plus being able to send additional people at one time that really allows us to maximize the potential of the i assess offers and now rick are there are some Major Concerns about having private companies becoming the leaders in space flight and exploration i mean its not always the most trustworthy situation when you put a private company in charge of something that is so important obviously on these 1st several we will see the most everything take precedent and safety and everything but there are the concerns that as people get complacent in the private sector and they start to try to cut you know save money is that a concern for you. Youre inferring that we should trust the government more. By that. The goal here is if you can transition from government science and exploration activities in space to the opening of a space in the front sooner where people can build businesses and routes well now that we eventually know their homes instance we want to get there but the only way to get there is to begin to know our flow of taxpayer funds and start creating Revenue Streams that allow us to do that and whats now also working with Companies Like they sat on the other providers thats starting to create a bit of a competitive market using the purchasing power of the government and this new station were in pushed cars now so more and more people can. No more. Now erin obviously and as rick actually just mentioned weve been focusing on space x. But because of their big news which was 1st up today but of course theres Virgin Galactic and blue origin as the other big players as well are their plans to actually make these Companies Profitable and how exactly would that work. Well. I think we have to remember that all of these firms are dealing in transportation right so yeah were going from the from earth to space and thats very big and powerful but the way to be profitable and transportation when the Transportation Industry is to be able to leverage economies scale to be efficient and be able to increase your frequency of deliveries so theyll get there just brought a stage at this point where their concepts showing that they can do this safely and reliably and to the point where as we see that were going to see them become more profitable because theyll get better and better and overcome that learning curve and now rick obviously this flight was set but one of the big things that weve heard about it is tourism and i think to what you kind of mention a i want to this is a bigger term but colonization maybe is not the right one how can the private industry sustain itself with nasa and the ultra wealthy as their only customers. I guess thats and we can stay away from the work colonization from some of whom i understand i dont mean corrected so much on this its more enduring the aggro thats great. Many of your claims and. Everythings going to change out there somewhere 4 times a conversation is going to be very different i do believe that. We will start you know basically and i want to be really clear you have to eat a lot of this to make money name a new climate. Of this and then once they start doing it and building that infrastructure and transportation. Then were going to see lots of private companies coming in and youre kinds of products. That are beneficial and if he were to get even think. Rick thomason air and pay go thank you both for their expert analysis i wish it was better news that we would get to see this launch happen on wednesday afternoon but unfortunately we are not and right here in studio were joined by host of the news with Rick Sanchez Rick sanchez himself who has been following the story. Unfortunately weve had a cancellation wreck what happened so heres what happened just about 3 minutes ago we 1st heard Mission Control start to ponder the possibility that this thing might be canceled then we heard the flight director say if you could just give us 10 minutes if you could just give us 10 minutes we know the window will be clear sounds like there was some conversation going back and forth as to what they could possibly do im not expert in you know maybe many things about iraq and so theres no one of about what we do know is that they were fueling the rocket a rush or they were fueling the rock liquid acid i was waiting out yes. But they had to pull the plug they had to pull the plug that the conversation seemed to be about whether there was a front in the area that you look you know florida and certainly i know of florida and what happens in florida is that you literally have friends that come through could last like a half hour then they leave and its a beautiful bright sunny day well they just happened to catch one of those forms that were coming through theyd been negotiating whether or not theyd be able to clear that window since early this morning and weve heard it in the conversations and they kept telling us that there was a possibility they would have to cancel that just about. Oh i would say about 3 or 4 minutes ago we 1st started hearing the 1st inklings from the Flight Control operator saying look i dont think were going to be able to do this but we cant be sure yet if we could just get 10 more minutes we could make it if we could just get 10 more minutes we could make it now you know at this point we were looking at what 433 right there was no way that they were going to be able to do it at 433 so thats when they pulled the plug admitted in our college call john he told you earlier that it had to be exactly 433. Exactly so unfortunately that did not happen the news with Rick Sanchez Rick sanchez thank you so much for coming out to give us that update here if you have the time to thats it for this time you saw the demand on the brand new portable t. V. Smartphones through google play and the Apple App Store by searching portable t. V. Or stream it to your t. V. By downloading the portable t. V. App but apple t. V. And online exportable dot tv keep an eye out for a variety of new content coming soon find out more portable that t. V. See next time. Problems drugs has come from unscrupulous dealers the from pharmacies to in every state in the United States weve seen very sharp increase in the number of people seeking treatment for addiction to prescription opioids. Invented america under the banner of medicine persisted with the pain but instead of trying to wean him off though she did those at their dose after dose if your dose and really became his drug dealer whos to blame patients doctors manufacturers. Counting the cost and charging the future we didnt do any computing to proceed. It is time to assess the economic game just as the crisis changed between one company and if there is going to be a recovery what kind is it be and are there lessons to be learned. Happened and another one of the highest income way to go for the food. Bank itself mukti about. Closing this way got to talk so hard not to think im going to dissipate this moment then walk up to a coward and open this door up and if. This is the only thing that we do is music because everybody fights his way. To. The floor you can fall off the feet found this both this woody allen that you have called the ability to put the helmet on the. But i think is this is the fans that is a compliment thank. You. Trying to votes to a not to security little. Ground to beijing protests in the city intensified. School and will investigate why they have gotten so registered nearly half of all deaths in the country we talked to the son of one of those who died in care. And to be school. For. This is my house and. Basically moans recruiting good citizens to help the country avoid another outbreak of covert 19 by snitching on social distancing violators