Syndicated around the globe he also founded and headed the Award Winning site truthdig and later in the show now only mcgill will also show us the Hidden History of the pledge of allegiance but 1st heres my talk with legendary journalist Robert Scheer Robert Scheer its an honor to have you on the show great to be here you are truly legendary career as a journalist ramparts magazine in the l. A. Times the nation true dig radio shows things have changed a lot over the years in some ways theyre actually fewer gate keepers then when you started and you know anyone can post articles online and ostensibly get them seen by the world but on the other hand the Mainstream Media is now owned by just a handful of massive corporations how do you feel journalism and news media have changed over the course of your career is it better or worse. We should not under our underestimate the worse at least there used to be something about attracting eyeballs or having readers and so when i was at the l. A.
Austrias chancellor tells us shared debt is not the answer to the coronavirus crisis. Meanwhile, chancellor merrickle here in germany has a workaround for the dispute over e. C. B. Bond buying. Testing times. President trump says the u. S. Has prevailed in the battle to boost coronaVirus Testing to capacity. This as Boris Johnson is forced to water down his plans for rebooting the u. K. Economy. Plus, the fed dips into credit on the corporate side. Today marks the opening of a much anticipated facility to buy corporate debt e. T. F. , a key part of the Central Banks coronavirus strategy. Just you said an hour away from the start of cash equity trading in europe and the u. K. Lets take a look at futures here. Ftse n see that we have futures it is changed. Futures across the board are not moving very much, although at least in europe we see some direction. Everything moving to the down side. And more so when you look at the da x, the ibex and the ftse down a third right now. Take a look
Of that will be technical selling. The bond market is a little bit unusual not so much happening in yields here, but in europe you are seeing pretty strong support. The time now for the market moving news from our new york team. We want to begin with china and that historic economic slump. Ae first contraction in backdated. We have our correspondent with all of the details. Mike it was actually worse than you expected, 6. 8 decline, the worst since they started reporting quarterly in china back in 1992. The economy has not contracted the fullyear basis since 1970s. We will watch that. One reason the numbers were not worse, if you look at the second number, smaller than expected, Industrial Production of on. 1 , factories returning to work. The problem for them is with the rest of the world unlock and there is nobody to buy their stuff. Consumers are not buying. Lockdowns were lifted but people are still reluctant to go out and spend. Retail sales down 15. 8 this is important because th
Combined the latest forecast from the International Monetary fund. The forecast keeps getting worse for the airlines the industrys International Representative says carriers will lose 314000000000. 00 in revenue with 80 percent of flights now grounded. Russia reports another record daily rise in infections pushing its total beyond 20000. 00 also ahead. Somebody is the president of the United States the authority is total donald trump declares hell decide when the u. S. Economy reopens but State Governments say nothing will change until its safe. And weve used it for thousands of years to ward off disease find out how copper is being made into an even more powerful tool against coronavirus. And sport the worlds biggest cycling race has been postponed organizers say the Tour De France cant start. Hurting happen later in the year. International Monetary Fund says the coronavirus pandemic will cost the worlds economies 9. 00 trillion dollars over the next 2 years the warning comes as count
Pro problems that threaten prosperity and exploring solutions. It is 100 clear to us that the cost of inaction is higher than the cost of action. We are going to follow those rules. Time is running out to address Climate Change, so i think it is right to hold our feet to the fire. Abigail its all straight ahead on bloomberg best. Abigail hello, im abigail. Doolittle. Welcome to a special edition of bloomberg best with highlights fromed the 2019 Bloomberg Global business forum. This annual event brings together most influential leaders in business and government to address the most pressing global challenges and explore opportunities for solutions. The theme of this years conference was restoring global stability. The Prime Minister of india delivered the keynote address and joined Michael Bloomberg on founder of bloomberg philanthropies and llc onstage for a conversation. We believe the earth is our mother, and we do not have the right to exploit our earth. We are only have the right t