Italian embassies plus. Im largely in the inner seaside town of which the bill which is looking all nervously at the potential easing of the law down on their arrival once again tourists. Again in russia which is rapidly becoming a new hotspot of the global chronic virus crisis with close 2178000 cases russia now has the 5th highest number of infections in the world for 5 days in a row new cases have gone up by more than 10000 and moscows mayor is warning the actual number is far higher than official figures show charleville us reports. Russian police and Fire Fighters patrolled the streets with instructions observe the quran teen take care of yourself and stay home as countries around the wound start to open up much of russia is closing down case numbers have to put it in the top 5 of the wounds with more than 177000 cases but most fear is it may be even worse. That is the year for according to streaming studies the entire number of infections in moscow ranges from 252300000 thats 3 t
Pandemic could do lasting harm to u. S. Productivity. And bnp paribas warns earnings will see a big hit from the outbreak as it takes more than one billion dollars in charges as a writedown. Economyr view, the getting back to normalization will be happening at the best at the end of the year and a return to gdp to normal will not be before 2022. Voice of guidance for those numbers. Warning that profitability could drop as much as 20 this year. Between 15 20 is the warning. In the dropping by 14 quarter but it is the announcer 9rovision covid1 provision. When you think about what has come so far, santander, 1. 6 billion. Deutsche bank was 500 million. What you see here is para bof taking a smack at the equity side of the business. Fixed income commodities rising by 35 . Those are the top line numbers. Let us get to lars maca henil. Were three projections impacting. The cost of risk. 500 million. Literally affect is leading to the accounting. Our portfolios are growing linked to what the
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
Suchi over the persecution of a 100 muslims and a giant asteroid is hurtling past earth but close enough for astronomers to study it. Were looking at the economic effects of the corona virus pandemic this hour they are being felt in many parts of the Global Economy aviation and oil is specially and its hitting the big players airbus has already said its bleeding cash at an unprecedented speed and announced it would cut production by a 3rd now it has posted a 1st quarter loss of half a 1000000000. 00 the chief executive of the european or a Swiss Company is warning this is quote the greatest crisis the industry has ever known its rival in the u. S. Boeing has already announced plans to cut 7000 jobs its chief executive predicts global revenues in the industry could drop by more than 300000000000 dollars this year and then 3 years after it will be in a recovery phase and in the u. K. British airways is set to shed up to 12000. 00 jobs which would be a 3rd of its workforce the airline has
Wish we were together again. So the word unprecedented is getting quite a workout over the past month or so. Jack, it certainly applies to what was happening in the Energy Market over the past week. Right at the start of the week the Energy Markets you know what . Lets get weird. I know you think youve seen weird, but how does 37 sound on a barrel of crude oil . Does that mean i can go to a gas station, theyll pea me to if fill up the car . Thats not what it means. In the futures market, each contract has to do with a specific type of Oil Delivered to a specific place at a specific time, and on april 20th when that may west texas intermediate contract came due, you better have had a pipeline and storage tank willing to accept your oil in oklahoma or you got closed with next to zero liquidity. Most people didnt have it, so so we had prices go sharply negative. Now jack if you have a boat that holds oil, thats a nice thing. Funny you mentioned that because on my street wise podcast for b