Labor unions in africa are warning of a brain drain to europe. This is the w Business Model 1st in berlin welcome asian markets mostly steady on monday after the corona Virus Outbreak triggered the worst week of losses since the 2008 financial crisis last weeks rout was reversed slightly as bargain by as moves in an investors bet on Interest Rate cuts shanghai lead the pack gaining 3 percent japan rebounded from opening losses after the central bank said it would provide support the regions gains came despite chinese Industry Data which showed manufacturing fell in february to its lowest level on record. Oh many countries are now trying to mitigate the effects of the virus on their economies but currently its many supplies are in china so there are only limited options of what governments and Central Banks can do. So far the German Economy appears to be running fairly smoothly despite the coronavirus but that could soon change become a cause the struggling to sell vehicles in china sup
A big headache for Global Supply chains especially with firms that source from china. Having technical difficulties there moving on as more schools and Companies Close across europe the European Union has earmarked 37000000000 euros in structural funds to help out firms impacted by the coronavirus heres what Commission President also found alive had to say we all know the price not only. But only. If a many. And all the european economy. Will. Own. 59. 1000000000 euros for almost. 2 months. To the hope. Now lets take you over to our frankfurt financial correspondent chelsea the lady whats the reaction to that speech from for the line. 37000000000. 00 its certainly wall excuse me euros certainly welcomed by investors but whats really important is the fact that that you commission is going to allow flexibility and budgets and then it within the e. U. E. U. Countries are sort of they have to keep their deficits at a certain level they cant really go above that thats going to be a big prob
To not make haste good friday morning welcome to squawk alley. Im Carl Quintanilla with jon fortt. Morgan brennan heads our coverage at headquarters bulls trying to hold the bounce after the worst day for stocks since 1987 the five Big Tech Companies apple, facebook, alphabet, amazon and microsoft lost more than 400 billion in value on thursday the treasury secretary Steven Mnuchin joined us this morning on squawk on the street. Take a listen. The president is looking at a major stimulus package whether its through the payroll tax cut or through another means of delivering liquidity to hardwork americans, weve announced what will be about 200 billion of liquidity through delaying irs payments, so hard working americans who have tax payments due or small or medium sized businesses can delay them i can assure you we will use whatever tools we need to make sure that the industries impacted by this get through this this is a shortterm issue it may be a couple of months but were going to ge
On state t. V. Would suggest everyone is still wearing face masks here slowly but surely theyre taking to the streets again and factories have reopened even in the hardest hit province who bay but conditions are different from region to region. Im going in got to do with who are facing problems such as poor personal logistics a shortage of cash flows for as a means from time insufficient Epidemic Prevention supplies and asynchronous resumption of production and low overall operating efficiency of the supply chains the spread of the epidemic also brought great uncertainty to chinas resumption of production for. One of the Worlds Largest Online Department stores auto has around 600 suppliers in china last year they imported 80000000 articles from there the Company Relies on good supply chains and we see no recovery rate on the factory side more than 80 percent effective i have reopened you know to the return of the workers by foreign cities percent so every additional label yours is 2. 0
Images on state t. V. Would suggest everyone is still wearing face masks yet slowly but surely theyre taking to the streets again and factories have reopened even in the hardest hit province who bay but conditions are different from region to region. One of the Worlds Largest Online Department stores auto has around 600 suppliers in china last year they imported 80000000 articles from there the Company Relies on good supply chains. Was to see no the recovery rate on the factory side more than 80 percent effective i have reopened you know to the return of the workers by foreign cities to send so every additional label yours its 2 to 4 weeks so we really see a way to be an improvement for china but since we are a Global Company now were worrying certainly about other places like turkey in you know out there what will come of this and what will be the impact. Of the chinese economy is also starting to feel the long term effects. Foreign investments have sunk by 9 percent since the beginni