Make up your. Double made for mines. The euro hits a 2 and a half year high against a basket of currencies investors are bullish on europes recovery from the pandemic that has a strong euro but a strong euro rather has consequences for companies who bring you up to speed. Also on the show major Oil Producing nations agreed to bowl back some of their production pandemic production cuts can they ride an oil recovery or are they acting too soon. And the german state helps Small Businesses survive the pandemic by helping them go online. Welcome to the show. Stephen beardsley in berlin good to have you with us the euro is poised to hit a 2 and a half year high against a handful of rival currencies this week its the latest high point of a month long rally for the currency and it comes as rivals have weakens the European Unions common currency broke the 1. 20 cent mark as Inflation Fears hit the u. S. Economy itself against the pound sterling on fears that brags that brags a trade deal will n
To have you with us a progress in Vaccine Development is lifting spirits as lockdowns continue around much of the world but recent days have shown that Vaccine Distribution could be a weak spot take a look pfizer has revealed that it initially overestimated its supply chain forcing it to cut delivery projection several weeks ago instead of 100000000 doses for 2020 it now expects to deliver 50000000 another concern for distribution is security i. B. M. Saying that hackers have targeted organizations working to improve vaccine cold storage in supply chains in suspects state actors may be trying to steal trade secrets or disrupt distribution of finally vaccine financing is a growing concern with International Aid not yet meeting the amount needed to help poor countries heres u. N. Secretary general antonio terrorists at a special covert 1900 some of the new york. U. S. Dollars including 4300000000. 00 urgently needed for the next 2 months. I think those who have contributed and own to sho
Vaccine. Finding a compromise. Agrees to slowly add more Oil Next Year after days of an stoxx. The Saudi Arabian energy miss mr. Process excruciating. Happy friday. It is excruciating for some of those journalists who stayed up late for that press conference. Look at where we trade friday morning. The s p 500 a bit over concerns roll outow pfizer will that vaccine. We are pushing a little higher this morning on the futures. Is this durable . What stands out is a record in the u. S. , a grim record of high infections as well as hospitalizations. Hospitalizations at the highest rate we have seen the entire time this pandemic. With rates increasing, that means more lockdowns of economies in cities and states. Gavin newsom in california warning california they could be next. The labor market, we will get a read on today. The november jobs report will come out today. Lets take a look at brent crude, testing 50 a barrel, 1. 9 percent higher. You had the opec plus meeting yesterday. Brexit ta
Vaccines. Virus deaths hit a record in the u. S. And in italy. And finding a compromise, opec agrees to slowly add more oil year after days of tense talks. Saudi arabias Energy Minister called the process of excruciating. Welcome to the program, everybody. Welcome to the European Market open. It has just gone 7 00 here in london. German factory orders rising 2. 9 month on month. The estimate was for an increase of 1. 5 . That was better than anticipated. Factory orders arising year on year, 1. 8 . The estimate was 0. 2. We have seen a continuation of growth coming through. We will see what momentum is like in the further winter months. Another story out of germany, potentially more interesting, perhaps. Germany has agreed to extend a to preventr bankruptcies as the economy is hit by the second wave of the pandemic. Germany is extending its 37 billiondollar backstop for Credit Insurance by another six months in the month of june. The industry will surrender 60 of remittance to the gover
Rising by 2000s a day. A vaccine on the horizon. The u. S. Could approve the pfizer shot as early as thursday. Secretary alex azar says all americans who want a vaccine should be able to get one next year. Azar we will focus on the front lines with the initial 40 million doses in the next month, and we will progressively keep adding more and more people. Be thinking in the februarymarch time frame you are going to see more general vaccinations. The Second Quarter of next year, we will have enough vaccine for everyone who wants it. Is dr. Georgeme rutherford, university of california San Francisco professor of epidemiology. You are in california, locking down as of yesterday. Give me some perspective. What is going on on the ground . How bad is it . Dr. Rutherford this week, we are having more cases than we have ever had. The icus are starting to fill up. Fresno and bakersfield, los angeles, metropolitan Southern California the icu capacity is below 15 . It is very, very problematic and