And jobs from the Virus Outbreak donald trump also pledges to bail out the u. S. Oil industry after prices they put into negative territory for the 1st time in history and serious questions are being asked about the true number of coronavirus related deaths in england and wales. The current a virus pandemic could lead to famines in dozens of countries pushing tens of millions more people around the world to the brink of starvation a un report has highlighted the vast number of people around the world who are now acutely food in secure the World Food Program has requested 350000000. 00 to set up a network to keep humanitarian supply chains moving around the world. No samples yet but i must warn you that if we dont prepare and act now to secure access avoid fundies shortfalls disruptions to treat we could be facing multiple famines of biblical proportions within a short few months the actions that we take will determine our success or failure and build a Sustainable Food systems as the b
Unemployment which then snowballed into lower income decrease Discretionary Spending which then repeats and feedbacks into the chain in a form of slowing demand so its a vicious cycle thats very hard to control once again some mentum the other part of that is that you have entire industries that are on the brink of collapse and theyve been levered to help bring on cheap corporate debt now of course were talking about the oil and Energy Sector hit one of the icons of america well we can also be talking about that big economy the gate and share to cop a sickly have your assets that valuation upwards of several billions of dollars but 0 assets so that economy has a collapse and the fact is it has no assets to back it up or doesnt own its cars being b. Doesnt own any of its real estate making it all the more painful and then finally lets not forget about trade International Trade accounts for a significant portion of the economy but now depend that make borders are sealed essential Industr
A currency crash pushes its economy to the brink. This new in may president. Police in the philippines are accused of abusing human rights as they enforce strict coronavirus measures. So the economic effects of the coronavirus pandemic are being felt in many parts of the Global Economy aviation and oil in particular and they are hitting the big players has already said its bleeding cash at an unprecedented speed and announced it would cut production by a 3rd now its posted a 1st quarter loss of half a 1000000000. 00 the chief executive of the European Aerospace company is warning this is the greatest crisis the industry has ever known its u. S. Rival boeings already announced plans to cut 7000. 00 jobs with its chief executive predicting Global Airline revenues could drop by more than 300000000000 dollars this year and the industry will take years to recover and in the u. K. British airways is set to shed up to 12000. 00 jobs about a 3rd of its workforce the airline has suspended 96 pe
Percent now this is a downgrade of 6. 3 Percentage Points from general 2020 Major Division over a very short period of time. This makes the Great Lockdown last recession since the Great Depression and far worse than the Global Financial crises the i. M. F. Chief economist said there will be a partial recovery in 2021 adding the overall g. D. P. Will remain below previous levels the comments come weeks after u. N. Secretary general and tony terras made similar comments saying the pandemic will bring a recession that has no parallel in recent years and that it is the worst crisis since the 2nd world war meanwhile the w t o said last week global trade will fall by between 13 and 32 percent this year alone now theres a lot of great down here so lets go ahead and bring in some expert analysis from cohost ben swann and christiane i guys thank you so much for joining us christy this contraction of Economic Growth is it simply because of supply chain slowdowns or are there entire industries th
And miles persecution of muslims likening it to genocide well talk live to un special rapporteur young elite. Down. The giant asteroid is hurtling past earth. Strong in most. Sports including more doubts around the Tokyo Olympics is japans Prime Minister says it will be impossible to host the games next year unless the coronavirus is contained. For weeks planes have been grounded ships docked and factories closed around the world all an effort to counter the coronavirus pandemic well now the impact on the Global Economy is becoming clearer as Companies Start reporting their 1st Quarter Results the Aviation Industry for example its reeling and is expected now to take years to recover British Airways for example cutting over a quarter of its. And ab os when its posted a loss of half a 1000000000. 00 its all led to a worldwide collapse in the demand for oil and its price its now a surplus and no way to store its major exporters like saudi arabia and venezuela are feeling the crunch the ki