Reach. I like real businesses, real clients, real revenues, real profits, they have got all of it. Abigail the imf predicts growth will rebound in 2020, but the director issues caution. Monetary policy space is shrinking. Abigail and the ecbs bill blaine has his insight on challenges ahead. Even though the Manufacturing Sector has faced a lot of challenges, but overall domestic demand is significant and continues to be. Abigail it is all straight ahead on bloomberg best. Hello and welcome. Im abigail doolittle. This is bloomberg best, your weekly review of analysis and interviews from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. The human cost of the coronavirus continued mounting continued to mount as the week began, with reported cases nearing 75,000. And as expected, more and more companies are cutting revenue forecasts in light of the outbreak. On monday the warning came from apple. Shery apple is the latest company to issue a virus
Im Francine Lacqua in london. These are your markets. 0. 4 . An markets down a lot of the market put a position that the economy and a lot of the earnings would go through the coronavirus. Not so after the apple news yesterday. There is more concern about the deadly coronavirus trade looking at treasuries, they are rising. Americans reopening after a holiday. Yesterday was president s day. Jumping as much as 24 after unsuccessful bid for the small arrival. This may be the kickoff of banking consolidation in italy and then further into europe. Coming up on bloomberg surveillance, our exclusive conversation with the hsbc Financial Officer on the banks job cuts. First word news. Viviana hsbc is set to slash 80 of its workforce. The lender taking more than 7 billion of charges and suspending buybacks as part of a restructuring plan. Plans to exit some businesses and cut costs. Hsbc still hunting for a permanent chief executive. We also spoke to the lender cfo about the coronavirus outbreak
Through 1. 55 , is back at 1. 56 . The dollar continues to strengthen as well. We are very close to the 100 mark for the dollar index. The your a particular the euro a particular feature of that. Story. Ple the big hsbc also worth focusing on, down by 6 today. The new strategy doesnt seem to be finding favor with investors. It is around 28 points off the ftse 100. Gives you idea of the skate and weight and of the of hsbc. Coronavirus certainly present when it comes to the coronavirus story. 1. 07 handle we had a one dollar zero seven cents level we had a 1. 07 level if you minutes ago. Vonnie apple saying work is starting to resume around china, but experiencing a slower to normal return a slower return to normal condition than expected. For more, we are joined by steven milunovich, Wolfe Research managing director, over the phone. Almost 50 of factory workers are not at work in china, so this statement, even though it came from apple and is providing a drag on stocks today, could almo
Fever medicine. Willng for the virus include outpatient as well as those in emergency wards. On tuesday, the city reporting one new case of the coronavirus, bringing the total to 61. Also we are getting data giving us more insight into how the economy in hong kong has been affected, not only by the virus but also by the ongoing protests and jobless rate climb in january for fourth straight month, hitting the highest level since 2016. Construction, consumption sectors particular hardhit in hong kong. This is a human tragedy and we want to always recognize that. There are real economic effects. You mentioned hong kong. Hsbc announcing they will lay a lot of people off. What is happening with the economy . Has a ground to a halt . Sophie we have some estimates saying 40 to 50 of chinas economy was open for business last week and factories are still taking time to go online. We have several companies indicate how they have been affected. Apple being one of the latest when it comes to its o
If you have those big game big names in the green. Joe netflix, the ultimate stock for people staying in their homes, probably netflix. Romaine lets dive deeper into the action. Taylor riggs, what are you watching . Theor i am looking at chipmakers. The nasdaq is higher but the stocks is lower in part because of the impact they could have on the chip suppliers. So much of the discussion has been about the stocks the stoxx being overvalued. Oxx p ecan see, the st ratio still trading at 19. 5 times. As much as we talk about the pullback and the fears about apple, it is important to keep in perspective how full some of these valuations are as we head into some of the uncertainty with the coronavirus. I am looking at the traditional inverse correlation between gold and the dollar. As you look at this chart, typically, they tend to move in opposite directions. Now, safe haven is driving assets higher on those coronaviruss. Gold, trading over 1600 per ounce. That comes even as the dollar str