To have you with us we start in turkey where the currency the lira cant seem to stop slipping the windham dwindling purchasing power is fueling anxiety in the country will hear from voices on the ground in just a moment but 1st heres the situation as it stands. Many tarts are worried how much more will the economy shrink things were bad even before the coronavirus hit but the pandemic hasnt just brought to risen to a halt the entire economy is collapsing as confidence disappears the value of the turkish lira has been rapidly falling losing about 20 percent on the u. S. Dollar since the beginning of 2020 people in turkey are exchanging the earlier into foreign currency such as the us dollar and the euro on a massive scale Bank Reserves are also due in doing so there are no charging fees for withdrawals of foreign currencies this way they hope to slow down the lyrics decline at least somewhat. Our correspondent giuliani joins us now from istanbul julia the current virus crisis has surely
A recipe for disaster. This is the only business imes in the elder milan in berlin thank you for joining us japans economy shrank almost 28 percent in the 2nd quarter its worst contraction on record now its hardly alone in that club fellow big economies like the u. S. The u. K. And germany where just registered crippling declines to but japans struggle is unfolding amid conditions that were already difficult. To send it on japan even before the coronavirus hit the world started largest economy was stuttering along the road all the damage is of a record breaking magnitude and many here are concerned about the road ahead. The move. Will mean i think the situation is very difficult we have to keep the economy moving but when i see the virus infections i know we have to slow down a bit i dont know exactly what we should slow down im worried. Strictly speaking dot is this mans job the economy minister says the sharp fall was expected after forcing businesses to shut you know. We will contin
W. I do they can there was raining that day the river had flooded. Before last we couldnt cross the river with our babies and children and we were sitting on the riverbank and they were gone his soldiers came and surrounded us. By someone as a beginner again is a layer. There and there will they started stabbing our men and shooting at them the 2nd i shouted shop you just by his house the women would long sticks langan with analyzing i need. A lot of really. Very very brave 10 soldiers carried me off along with 6 other women that are down the dominican rather. Than one another and as they took us away my youngest brother said to me farewell my sister. In law i cant say all the terrible things they did to us. Jill out there right there that. What happened was called a cleansing operation. In the summer of 2017 the myanmar army laid waste to the Western State of rakhine formerly are a contraband. Nearly 500 villages were burned down. The row hinge a population fled to the forests and hil
Jes staley says lets get back to the office. Morei think the banks are of a pressing concern, absolute critical. If you think about the advantage that sector needs to make, the changes in diversity, in terms of gender and race, Corporate Culture really important in a bank as well when dealing with risk. All of these things, i can understand why he wants to bring people back into the office. I suspect it is going to be a little more flexible bringing everybody back to the 9to5. Tom Credit Suisse flexible as well. Francine lacqua in zurich. We will get her in the hour. With our first word news in new york city, here is ritika gupta. Ritika negotiations resumed saturday on a compromise Coronavirus Relief plan. Areblicans and democrats nowhere close to an agreement, under pressure because of people losing Unemployment Insurance this week. A stopgap measure would extend those benefits. Federal reserve chairman Jerome Powell calls it the most severe economic downturn in our lifetime. Powell
The market, its the same as yesterday, the markets churning with gold moving higher. But you are right, we have seen a bounceback to green on the screen after the navarro flap. Its clear, its a market in search of a story in the line, maybe we can find a story from philip. Francine we will talk about runaway inflation with him shortly. Lets get to first word news. President trump calmed that the phaseng one agreement is fully intact. Peter navarro said that aspect of the trade deals were over on fox news, and he said his comments were taken wildly out of context. Mike pence is warning that more young people around the country are testing positive for the coronavirus. Making their mark in a Conference Call with governors. Concerned byed Texas Governor greg abbott. The infectionat rate is rising. Boris latest stage in johns Boris Johnson announcing the latest age in lifting the coronavirus locked down. Movie theaters and museums may open the door after next month and he may also cut the