President elect biden this is one of the worst economic and job crisis in modern history, but it doesnt have to stay that way. If we act now, now, i mean now, we can begin to regain momentum and start to build back a better future. There are no times to lose. Millions of people have lost their Health Insurance or in danger of losing their Health Insurance. One in six renters is behind in rent. One in four Small Businesses cant keep their doors open. And there is a growing gap in black and latino unemployment and the gap remains much too large. Deeply troubling that last months unemployment was driven by people dropping out of the job market, not because they were being hired. They have lost hope of finding a job and taking fulltime care giving responsibilities as Child Centers remain closed and children learn remotely. Over the past three months, 2. 3 million more people are longterm unemployed. Meaning 23 weeks or more. By far, the largest increase on record. This is a dire jobs repor
Amazon reaches its war worst level 12 years. And in support of european champions, byron munich are in need to continue a record breaking ride in bahrain take on athletic, obliterated looking to extend their Champions League winning streak to 16 matches for the race to rule. Later. Corona virus vaccine is accelerating with pharmaceutical Companies Seeking emergency approval. In many countries fires around by on track of the latest to ascii, you, regulators to sign off on their vaccine review should be finished. Going to center 29th, which means it could be available by the end of the month or distributes it, distributing this vaccine to every corner of the globe is being called the mission of the century. Multiple times forces are working or its the logistics for mobilizing fergusons of cargo flights to build and deep freeze storage sites. Meanwhile, in the United States, 15 Public Health experts holding an emergency meeting to decide which americans will get the 1st doses of vaccine s
Safe thasgiving, it was far from the traditionalgathering with family and friends. I hope you had a good thanksgiving. We know times are tough but i wanted to know help is on the way. Last week i announced the nominations of staff for a critical Foreign Policy positions. The first rate team thats going to keep us safe and secure and today i have the pleasure of announcing key nominatis appointed to the critical economic positions that will lead this nation. A first rate team thats going to get us through this ongoing onomic crisis and helps build an economy not just better than it was before. A team thats tested and expeenced that includes groundbrking americans that come from different backgrounds and share my core vision of econic relief here in the United States of america. To give them a fair shot and equal ance, theres nothing beyond the capacity of the American People. Lets not forget who built this country, workingclass and middleclass people built this country and unions built
The British Government told businesses today to be ready for big changes when the u. K. Makes its final break from the eu in one month. Opec and its allies need more time to reach a deal on Oil Production policy. A meeting today broke down today without any agreement. Again ministers will try thursday to allow more time to figure out whether to delay a planned increase in output starting in january. Supporters say the market is too fragile to absorb more oil. Global news 24 hours a day, onair, and on bloomberg quicktake, 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 p. M. In london, and 2 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. Treasury secretary Steve Mnuchin and jay powell testifying earlier before congress on the cares act. Itsla says the fed will use tools until
Good afternoon. President elect biden and i just met with some of our nations business and union leaders. Together they represent millions of workers across our country. And some of americas leading technology, auto and retail companies. We had an important conversation about the impact that this pandemic has had on workers. Especially essential workers, frontline workers, who have risked their own health and the health of their families and many whom have given their own lives to keep us safe and keep our economy running. And we all know that this pandemic and this recession have hit communities of color particularly hard. Black americans and latinos are threetimes as likely to contract covid as others and more likely to die. Native americans are more than four times as likely to be hospitalized as others. And last month, the Unemployment Rate for black americans was almost twice the rate of others. And we have also had a conversation about the impact this pandemic has had on our econ