And Boris Johnson out there clapping for carers britains streets are filled with the falls right night for the National Health Service Workers. For the economic devastation caused by the krona virus is becoming clearer with the u. S. Announcing a major rise in the Unemployment Rates a record 6600000 americans a point for Unemployment Benefits for the 1st time in the past week thats 3000000 more than the week before some 10000000 people in total in the u. S. Still benefits in march there was a similar story over in spain the locked down there has cause more than 800000 redundancies last month many of them Seasonal Workers such as those in the hard hit Tourism Industry and 3 and a half 1000000 spaniards dont have a job or toll and the number of british people applying for government benefits is 10 times higher than normal almost a 1000000 brits claimed universal credit in the last c. Weeks and thats despite a stimulus package aimed at preventing layoffs well lets get more now on the situ
Euro area finance ministers look for agreement on a corrective response to the crisis in a crucial call today. Shinzo abe says he wants cash handouts as quickly as possible. Lcome to daybreak europe a powerful rally in the u. S. Session yesterday. Investors seem to be looking for the virus peak. Cameron crise says, if you are looking for the bottom, it may not come for more than a year. Manus diamond warns that a recession could be similar to 2008. A trillion dollar stimulus from japan. The ministry of singapore going with liquidity requirements. Good morning. Nejra if we wonder whether the rally will continue into the u. S. Session, u. S. Futures lower earlier. On these, seeing green screen and asia and also in terms of european futures. The big move yesterday, taking the futures above the moving average and pushing through the end of march high. Do we get to a 70 handle . We are at 69 right now. Oil resuming its rally after we secretary the energy had a productive discussion over the
And Boris Johnson clapping for british streets filled with applause for the National Health service workers. The economic devastation caused by the coronavirus is becoming clearer, the u. S. Announcing a major rise in the unemployment rate. A record 6. 6 million americans applied for unemployment and if its for the first time in the past week. That is 3 million more than the week before. 10 Million People in total in the u. S. Sought benefits in march. It was a similar story in spain. The lucked out there has caused more than 800,000 redundancies the lockdown there has caused more than 800,000 redundancies, many Seasonal Workers as the coronavirus hits the tourism industry. Many spaniards dont have a job at all. The number of people applying for government benefits is 10 times higher than normal. Britt claimed universal credits in the last two weeks despite to chromium despite a stimulus package aimed at preventing layoffs. Lets get more of the situation in the u. S. Our correspondent
Surveillance, im Francine Lacqua in london. She targeted bloomberg, but she said about this appointment . Have they been for it or have a lot of the focus who know the had punches for pete and for amy. They had questions . Axel first, you can see the markets will be no the banks. Surveillance. But the question is, bloomberg was surging and biden was a joining as now, Ebrahim Rahbari. Reaction of the stock has been on the markets will be in positive. Distressed candidate. I ways think it is very does this shift the narrative, important when there are some polling . The banks. Conventional wisdom tells you changes, the market has the debates do not tend to move stocks down some 0. 2 . First reaction which was in voters opinions, but this one general positive. Clients have questions around was very fractious, very we did have corporate warnings. The process but i have not passionate. Tom what is so important here, what does wiki yen indicate to received feedback that was we are looking at
Is when Prime Minister netanyahu faces a challenge up to the leadership of the party after failing to form a government. Lets talk about trade and not the usual tensions between the u. S. And china. There is escalation cost true trade wars two trade wars. Move is cutting tariffs, a partly aimed at expanding imports. The news comes as beijing and washington work to finalize the signing of the first phase of the trade deal next month. Japan and south korea agree to negotiate on export controls. President moon jaein and Prime Minister shinzo abe will meet for bilateral talks i tuesday, tomorrow. Joining us to discuss in more detail, bloombergs executive editor for Greater China john liu. Why is china cutting tariffs now . Remind us the process involved. John some of the products include pork, which is important to china. There has been a shortage domestically and we are coming up on chinese new year, peak season for me demand. Getting imports will be very helpful for president xi jinping