Mark meadows and treasury secretary Stephen Menuhin called the lawmakers to pass individual lesson legislation including redirecting 130000000000. 00 in unused funds from the Paycheck Protection Program which was part of the relief package passed in march now although at this time democrats in the house of representatives have insisted on a comprehensive relief bill rather than stand alone legislation like that just like uncertainty over what may happen or what may happen to the u. S. Economy and unemployment without another stimulus bill Global Markets rallied on monday so lets go ahead and take a look at the state of the economy and markets with Octavia Moore and the c. E. O. Of optimists l. L. C. Octavio always a pleasure to have you on the show now if theres so much doubt that a stimulus bill could get done before novembers election why is the market so optimistic about it and getting a boost monday are we any closer or is this just you know algorithms taking up all the chatter. We
Results so i think would like to see a kind of we dont have a clue it would be a quite some time the kind of been. Much much worse this. d position so i think were going to see after the elections. We have a christie i believe us cohost with us as well whos just joining us now i want to propose that same question to you where do you see markets going in this next month and what or what effect will these Upcoming Elections on Global Markets and markets here in the United States. Well i think that 2020 has been a year that has been just marked by surprises and the unexpected so right now the real fear isnt about placing bets on whether or not or the real fear is that the results of the election wont be identified but on november 33rd and even if a winter is identified the transition they dont think its going to be a smooth one so there is the possibility that the election will get disrupted and could potentially even lead to violence so to that end a lot of investors right now they are f
This is the one business show you cant afford to miss in washington coming up. Relief talks in the United States have stalled once again while Global Markets surge ahead of a busy earning week or to break it all down plus the o. E. C. D. Says just proposed digital tax could cause a yearly decline in global g. D. P. Well dig into the details and a later just so much our thanks and against Chinese Telecom giant huawei affecting the companys ability to do business worldwide were going to bring you expert analysis we have a packed show today right in. And we lead the program with the latest in the ongoing stimulus talks here in the United States after the white house increased its stimulus offer to over 1. 00 trillion dollars on friday the package received. Heavy criticism from republicans and democrats casting doubt that Economic Relief would be coming to americans any time soon now the white house offer includes expanded Unemployment Insurance of 400. 00 per week stimulus stimulus checks
And how they are working with diversity and how they are changing the company with what that means. Seasons season is officially underway. Scarlet fu is here with some of the highlights. Scarlet i wanted to start big picture, as with banking and other parts of the economy, the stronger getting stronger and the weak are getting weaker. Citi leaning on their trading business. You can see that jp morgans revenue soared thanks to training. Record revenue for a second straight quarter, and equity rising more than 30 . At citi we saw trading surging 68 and with companies trying to raise cash as quickly as possible, investing got a boost as well. Wells fargo does not have the same wall street operation. If you look at wells, reported a loss 2. 4 billion. The first quarterly loss since 2008. Nine and a aside half billion dollars for credit losses. See jp morgan putting aside 10. 5 million. That is the biggest loan loss provision in its history, and it shows us how covid19 affected the economy
Senates lack of progress on a coronavirus stimulus bill pushes Global Stock Markets into the red. I consider myself one of the lucky ones the old and i coronavirus patient is the story of her long road to recovery. At. The end thank you very much for joining Us Singapore Airlines and its regional and no cost on a grounding 96 percent of the fleet the Aviation Industry is reeling from collapsing passenger numbers and border closures due to the coronavirus been demick the United Arab Emirates home to the International Hub dubai is suspending all passenger flights including transit travelers meanwhile japans Prime Minister shinzo abbay has not conceded a postponement of the tokyo games must be considered thats after weeks of insisting the major sporting event could go ahead in july as planned lets take a look at the global snapshot from the u. S. Base John Hopkins University nearly 340000 infections since the outbreak began just under a 3rd of those almost 99000 have recovered more than 1