Disease expert says covid19 will not be a pandemic a lot longer. , dr. Ing at an event today Anthony Fauci pointed to rapid progress in vaccine development. He did say the coronavirus could remain endemic for a long time. Generally, a pandemic is defined as an infection that puts the global population at risk, while an endemic disease is one that spreads in some areas and not others. There is a power struggle inside Prime Minister Boris Johnsons office that threatens to destabilize the british government. His communication director quit last night, raising concerns about the future of johnsons most powerful and controversial advisor, dominic cummings. All of this comes at a time when the Prime Minister is dealing with a new lockdown and brexit talks. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 in london, and 2 00
Into new orleans, killing two people. It also left 2 million homes and businesses in the dark. Experts say damage could total as much as 5 billion. Wto members are confronting the reality that the future of the genevabased institution is now in the hands of the american electorate. The Trump Administration has decided to block nigerias former finance minister as the next wto would record general. The u. S. Is backing the south korean trade general despite overwhelming support from other countries for the other candidate. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im Mark Crumpton. This is bloomberg. It is 1 00 p. M. In new york, 5 00 p. M. In london, and 1 00 a. M. In hong kong. Im taylor riggs. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. The u. S. Economy recovered much of its normas ground it lost in the spring,
In china. China rolls out its fiveyear plan, promising to build a tech powerhouse. Coming his party also wants greater sustainability. At the ecb says more stimulus is coming as eu governments proposed new virus lockdowns. It says bond buying and support wont seize until the covid wont cease until the covid crisis dies down. Shery quick check of the markets, u. S. Futures coming online under pressure, down 1 after disappointing markets in earnings. We managed to end the session higher by more than 1 , s p 500 gaining the most in two weeks. We had strong data to surge Third Quarter u. S. Economic growth and a decline in weekly jobless claims. That recovery in the u. S. , setting us up for a recovery in asia as well. Look at new zealand trading at the moment, ever so slightly higher, asx futures pointing to a gain of. 4 , reversing declines of 1. 6 we saw thursday. Nikkei futures pointing higher, a little weakness though in seoul. Top story, plenty of action after the bell in the u. S. W
Multiple seeking challenges in the rise of yonperforming loans, so m second question is on banks. The general counsel discuss the onond containment measures european banks . Thank you. Thank you very much for your question. Tltro is a longterm refinancing scheme that is really intended help the financing of the economy because banks are offered very attractive terms in order and provided that the lind to the economy. It is not that they lend to the economy. It is not that it was a very generous package of refinancing without any conditionalities. The banks are going to only be eligible to the very attractive rate of 100 basis points provided that they lend at least as much as they did to the economy. So that is number one. It is an encouragement to finance the economy. And all sectors of the economy, not just large corporate accounts. It is focused on small and mediumsized enterprises. Through the enlargement of collateral pools, we make sure it can reached the small osborne orders and
Everyone has no doubt use bandaids or tylenol. Those products are wellknown products produced by Johnson Johnson, but Johnson Johnson is also a giant in many other areas. It is taking a leading role pairing a vaccine for covid19. Its ceo is alex gorsky, a west point train former military man who has done an incredible job over the last eight years making this company the most valuable Health Care Company in the world. Some people say the most commonly spoken words in the english language today are can you hear me because of the zoom phenomenon, but i assume in your case, the most commonly asked question of you is when is the vaccine coming . You must get asked this every hour on the hour, so why dont i do this as well when is the vaccine coming . Alex its usually about every 15 minutes that i get asked that. Let me start by saying i could not be more proud of the incredible work that our scientists and engineers have been doing over the past five months to put us in the position we are