Pound hole in its bottom line. Auto aid renault struggles to restart production amid faultering demand mixes messages from the hill was fed chair and secretary mnuchin give different assessments of the speed of the recovery they also seek to defend their stimulus measures from accusations they are propping up wall street at the expense of main street. Main street is in a class by it self really. Diverse small, medium and Large Companies different credit needs, some credit based, some asset based. It is a really complex undertaking. A warm welcome to the program. Lets kick off with the top corporate story. Marks and spencer has reported more than 20 decline. The company added that it with also accelerate a restructuring effort aimed at trimming costs during the pandemic. Lets get to steve who joins us outside an m and s store in london theyve been struggling to restructure for years now. Is it going to be different this time around . I hope so a lot of us have an historical knowledge of
Top producers consider even deeper output curves. Shinzo abes state of emergency now covers the whole of japan after critics said his initial virus response offered to little, too late too little, too late. Shery breaking news out of south korea. We are getting the jobless rate coming in at 3. 8 . As expected, a rebound from the previous month of february. February was a 3. 3 . In the month of march coming in at 3. 8 . In line with estimates but still a rebound. Of course, we have seen weakness in retail and hospitality, employment, given this coronavirus pandemic. The government has tried to create jobs and that has helped the economy. They of course have already passed a 10 billion extra budget, but we are now seeing the jobless rate climbing to 3. 8 . This as president moon jaein has called for more aggressive measures on job creation. Of course, moons Ruling Democratic Party of korea just won the implementer elections. Take a look at how markets are trading at the moment. We are se
In the last 24 hours, combining virus dynamics with oil dynamics. That is a distinction of this crisis. Francine and i am looking two to european lets get to first word news in new york city with viviana hurtado. Viviana we begin with a uturn from President Trump on the need for an economic stimulus he now says he will seek a payroll tax cut and belief are Industries Hit i the new coronavirus. Today the president is promising to unveil what he calls very dramatic action to support the economy. Bloomberg has learned for now the package will not include help for airlines and others in the travel industry. Now to italy it will become the first country in the world to attempt a nationwide lockdown. It is trying to stop the spread of coronavirus in europe. Almost 500 people in italy have died from it. A prime ministry imposing a travel ban. He has told italians, stayathome. Some of the worlds biggest banks predicting the European Central bank will cut Interest Rates thursday. J. P. Morgan a
Boise, potato ships . No, computer chips welcome to squawk alley. I am jon fortt with me at post nine, Morgan Brennan and david faber. Carl quintanilla hat morning off. Another busy morning in washington the house of representatives has another big vote on the trade front, expecting to pass usmca, the replacement for nafta, on the heels of approving two articles of impeachment against President Trump last night Kayla Tausche joins us with more reporter the vote will be a stark contrast to the Party Line Vote on impeachment. On the house floor on capitol hill, two hours of debate is beginning that will tee up a vote that white house officials expect to be a landslide bipartisan vote, thanks largely because of provisions folded in to win over House Democrats by Bob Lighthizer last hour on cnbc, the treasury secretary said it should be seen as a win for the economy, not a win for House Speaker nancy pelosi were going to get in excess of 50 basis points of additional growth in gdp as a res
Abigail the s p 500 clearly outperforming, up 23 , on pace for its best year since 2013. The Energy Sector is a positive at this point this year but up 6 . Looking at beatendown sectors to get some ketchup potential. Energy is one of them. Some traders are going that way on the day. Renita im taking a look at marble technologies, which is rising to its highest since august, upgraded to outperform from market perform at wells fargo. Gary mobley says he has seen a we exhibition in the Data Center Capital expenditures. To put it in perspective, the stock is up more than 65 so far this year. He says marble is seeing robust demand for components from 5g base stations to nokia and samsung. That the company can generate 600 million in 5g customers. Its they also expect to see this demand for 2019 and 2020. Taylor i am looking at shares of uber. Set theing enough, lyft bar pretty high last week after they had pretty tough top and bottom lines. The pressure is on now really uber as they look to