The power base of u. S. Politics and. This is a very very scary virus you dont it that people are going to go back to work and there could be worried about texting. Infections in mexico near their peak but our official numbers concealing the real extent of the crisis. Could have you with us welcome to the program saudi arabia has announced tough new austerity measures aimed at shoring up state finances which have been battered by low oil prices and the coronavirus pandemic from july the 1st itll raise value added tax from 5 to 15 percent it will also cut up to 26000000000. 00 from government infrastructure upgrades including crown Prince Mohammed bin salons vision of the 2030 project and to from the beginning of next month is suspending a cost of living allowance for workers more on that story as it develops through the day. We go to china now where its also continuing to take steps to reopen its economy even as it reports a rise in new coronavirus cases Chinese Health authorities anno
Tourist attraction in china is back in business even as new coronavirus cases are reported in with her. Back into the program lets bring you this breaking news coming out of iran that in a rainy and naval ship has been mistakenly hit by a missile fired by another ship in its own fleet state television says that at least one person has been killed and several others have been injured in the incident it happened when the support fassel got too close to a target during naval exercises in the jasc region of southern iran on the gulf of oman. In other news saudi arabia has announced tough new austerity measures aimed at shoring up state finances which have been battered by Lower Oil Prices and the coronavirus pandemic from july the 1st it will raise value added tax from 5 to 15 percent it will cut up to 26000000000. 00 from government infrastructure upgrades sink looting crown prince mohammeds solve mans vision 2030 project from the beginning of next month is suspending a cost of living all
Announced, but the big story is surrounding big tech earnings like microsoft, facebook, and even comcast and qualcomm. It look like some of these companies were basically created for this moment if you didnt know, the microsoft quarter was just a thing of beauty a lot of that is because theyll have a product like teams or like azure that are incredibly strong linkedin doing very well facebook quarter was good, and boom, they say april is stabilization. One of the themes were seeing in tech, or you have service now, well have Bill Mcdermott later today. They have an unbelievable quarter. Maybe the best in the history of the company. So youre seeing companies that frankly not only do not have to make any excuses but are saying good things. You know, qualcomm, ill say, secular trend, 5g, and then highspeed internet is one of the most lucrative parts of comcast. Yes, of course, theme parks not going to happen, but theyll open up again. But high speed, it will never go back you dont switch
Damage assessment economists expected payroll reports to show 22 million job losses, taking unemployment levels to their highest since the 1940s. Neel kashkari says the impact will be devastating. And customer orders slump. We speak to the ceo. Lots still ahead in the trading day. We will talk about siemens numbers and the lack of visibility. We also get plenty of analysis for the jobs report which we expect to see later today. With that in mind, lets take a look at futures. It seems we have found plenty of reason to be cheerful this friday. We will not have any trading in london because it is a Public Holiday, but we have plenty of positive trading coming in from the Asian Session and indeed, in the futures, we see that reflected. Futures point higher by around 1. 3 while european futures, where we see moves to the upside. Euro stocks futures up by a similar amount. Of focus on reopening, which seems to be taking place or being planned for in various parts of europe and in some cases
As being totally disingenuous. The jd of what happidea of whatt week with the minus 37, theres a couple of Financial Instruments that are wrong they are broken. We dont regard things as broken because it seems almost impossible that something could break. But the future that you see and the actual prices are very different, particularly in the out years. And i think whats going to happen is this has to go to zero again, because we dont have more space i heard the ceo of the largest Tanker Company on friday saying theres no room. Why should this number not go to zero it should go to zero faster than it did last time any chance it will go to zero. Yeah. Any chance that it doesnt because we will begin opening u some of these states thats certainly a hope, but there are times in life where people know that theres an instrument that is faulty. And they can shoot against that instrument and bury these people there is this financial problem that people behind the uso, they are financial peopl