Back to an eight day holiday. They are putting much playing catchup. We have gains across the board. Shanghai is up 1. 6. These services pmi rising for a fifth month. The you on getting 6. 73 versus the dollar. This was stronger than expected. This is a weak dollar story. Some yen strength there. The bank of canada governors has negative Interest Rates remain an option. Courts seems like a lot of the action is in the shanghai markets here today given that robust reopening after the eight day holiday. We will speak exclusively to the Everest Medicine ceo. This is 27 right now in its debut in hong kong. The Trump Administration signaling that the administration is again leaning toward a largescale stimulus bill. That comes after nancy pelosi pushed back on the idea of peace for a. She is excepting refusing to accept help for airline without wider bill agreed. We want to help the airline workers. There is legislation that we had ed the cares act that we hope we could continue for the next
Yet to shape out its just a chance to come to advocate and in gains from it because the trail. Went on many find themselves worlds apart when shes to look for common ground. I. This is boom bust one business show you cant afford to miss branch of war in washington coming up just straight up thousands of Airline Workers hangs in the balance as Congress Continues to debate stimulus for the ailing industry straight ahead we dive into the struggles of the aviation sector and where their fate lives on capitol hill and later controversy continues to stir in europe as the e. U. And the United Kingdom continue this bar over their divorce deal later on were going to break down the Details Behind the friction of a packed show today so lets dive right in. And 2 of the United States largest air carriers have announced the furlough of more than 32000 employees after lawmakers failed to extend a bailout for the industry ravaged by the copen 1000 pandemic that the layoffs from american and United Air
In the depths. Or inmate in the shallowness. Welcome back there are few industries in the world harder hit by the coronavirus than the travel and Tourism Sector without question 2020 will go down as one of the worst years ever for the industry but in reality were only in august and still have a long way to go already the effects are being felt in fact the Hotel Industry is warning that as a whole they are facing an absolute Economic Disaster and a desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the United States are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 29000. 00 the same number was 1. 9 percent of hotels and this is just the beginning so joining us now to discuss is boom bust cohost investigative journalist bence want and travel expert from money we have dot com very choice thank you both for joining us today ben i want to start with you can you g
Dollars and they Say International travel for them will not resume until the middle of 2021 the middle of next year you talk about the cruise industry you know the Cayman Islands saying that theyre not going to allow International Cruises to come in to the Cayman Islands until at least after december 31st of this year so it doesnt really matter what sector youre in everybodys taking it on the chin right now and no barrier there are destinations like bali that plan to reopen the tourism by september but overall are people actually traveling right now and will tourism pick up again this year or is everything going to shift to 2021 or is it going to be 2022. I think it really depends on where you live regardless where in the world you are i think domestic trouble is that they yes thing right now obviously mainly just because of border closures you know here in cannes i can only go to certain destinations u. S. Citizens can only go to certain areas but if you can stay domestic theres defin
A desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the United States are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 2019 the same number was 1. 9 percent of hotels and this is just the beginning so joining us now to discuss this boom bust cohost and investigative journalist ben swan and travel expert from money we have dot com barry choi thank you both for joining us today ben i want to start with you can you give us a rundown quick of some of the other aspects of the travel industry struggling right now. Yeah its kind of like a pick your poison kind of situation right now it doesnt matter what part of the travel industry youre in right now things are going very very poorly you have the Airline Industry Quantas Airlines out of australia saying that for this last year of this last fiscal year that is theyve actually lost 4000000000. 00 in australian dolla