Government urges people to stay home in a statewide emergency. On sunday the number of people in tokyos shopping and entertainment hub was down 81. 9 compared to earlier this year. The number of people who are in osakas district fell, and data from a mobile carrier showed visitor numbers have declined sharply at major tourist sites across japan. Mean while lawmakers have started discussing a bill that would help deal with the measures with the pandemic. We want to have the measure approved as soon as possible so we can i implement thehe measur. We will take prompt bold action in response. The governments emergency package includes about 119 billion for cash handouts. Every resident in the country will be entitled to about 930 under that scheme. Small and Mediumsized Companies will also be eligible for subsidies for up to 18,0 18,000 the revenues have dropped because of the virus. Japan is also expanding a ban on foreign travelers. Beginning wednesday anybody that spent time in russia,
This is bloomberg surveillance. I am Francine Lacqua at the Bloomberg European headquarters in london. We are waiting to hear from the german court of legality, coming up shortly. Meantime, this is what im looking at in markets. The markets are on tenterhooks on this ruling from the german government. I have to say, u. S. Futures are climbing. Sentiment being helped by expectations more economies will move toward easing of lockdowns. Oil on the course for its longest winning streak in nine months. What else i am looking at, earnings. We had b. N. P. Paribas rising, setting aside problem loans but warning fullyear earnings will take a pounding from the pandemic. Rallying after it reported a 35 plunge in First Quarter profit. Plenty more on that, and of course we are waiting for that ruling on the legality of qe from the german court, but first lets get straight to bloomberg first word news, with viviana hurtado. Viviana we begin with an internal u. S. Government projection showing the o
The show. Oil finding some support from markets as we still get earnings coming out. Fiat chrysler withdrawing its full year 20 guidance. They plan to restart production as conditions allow. About 100djusted ebit million euros. Nonetheless, continuing to see withdrawn guidance. Really hard to make a decision as a Portfolio Manager when you dont know what the outlook is going to be. It is time now for todays market moving news from our brussels and new york teams. We want to begin in europe, where germanys top judges gave the ecb a threemonth ultimatum to fix qe. The court ruled that some aspects of its Asset Purchase Program arent backed by eu treaties. Going to brussels is maria tadeo. What does it actually mean, and have we seen any response from the eu on this . Maria it is a bombshell, really. The judges are basically saying overall, there is no monetary financing, which would be illegal, but some aspects of qe are unjustified, and not backed up by european treaties, which means th
Dimer scraps its forecast for higher profits amid the pandemic. Results come they can pass. Credit suisse provides a full picture of its First Quarter. Dont miss that exclusive interview. Into some ofget those storylines. This is about a First Quarter that will be difficult to assess. Thats a beat, during the First Quarter, Credit Suisse beat on the estimates, delivering 1. 3 billion. For everyone who has a bloomberg terminal, look jump in there. Francs, theswiss estimate was for 203 million. All of the swiss banks have already adjusted and announced a dividend. Instruction there will be more impairment to come. Thats the top line. Nejra absolutely. As you hinted at, one corporate casualty in the Coronavirus Crisis has been dividend payments. Credit suisse has already said they would hold back on some of the payouts. Ist First Quarter provision the red headline to focus on. As you say, they may see more impairment come, another line dropping is that Credit Suisse may see more reserve b
Few smiles and the magic kingdom. Disney suffers a coronavirus hit with seem parks shot, movie theaters closed, and sports on hold. Shery a quick check of the market. This after u. S. Stocks gained ground for a second day in the regular session. We have sentiment being boosted as more economies move towards easing lockdowns. Still, in the last hour of trading, there were some cautionary comments on said officials that cut gains in half. New zealand stock scanning. 8 . This would be a Third Session of gains. Therir rate. Rate. Ir we have the rba leave rates unchanged. We are looking forward to retail Sales Numbers very soon and we will see how all of that toilet paper hoarding that we saw in march is reflected in the numbers. Not Much Movement for the japanese at the moment. Tosident trump continues push the theory that the coronavirus originated and escaped from a lab inside wuhan but sources within the u. S. Intelligence Community Say the intelligence is less than definitive. That as