A 2nd wave of coded 19 but his Health Experts say infections will come back. After 9 years of a war in syria the 1st trial linked to alleged state sponsored torture has begun in germany plus. Field u. N. Technology thats making it difficult for nations to connect when they need to be communicating more than ever. And in school the n. F. L. Draft gets ready to go virtual the games best Young Players be selected remotely with millions of fans watching. Lets get going we begin this news hour in germany where the chancellor Angela Merkel has issued a call for Greater Unity in the fight against with 19 during a speech to the Parliament Mrs merkel emphasized both the need for International Cooperation and also within the European Union saying success could only come if the book could fight the virus together with that in mind she called for a bigger budget and she said germany was ready to pay quote significantly more to help with the economic. Recovery that comes as a youth leaders prepare
Lebanon as a currency crash pushes the economy to the brink. President taking. Place in the philippines are accused of abusing human rights as they enforce strict coronavirus measures. Full of stories to come but were going to start with lebanon where violence has escalated during a 2nd night of protests in the Northern City of tripoli demonstrators set fire to a bank and hold rocks at Security Forces who responded with tear gas and rubber bullets the protests are bernie growing as the crisis hit economy crumbles further because of the corona Virus Outbreak monday one protester was killed during the riots has more for us from tripoli. Hunger and hopelessness are driving lebanese to the streets the economy is close to collapsing protesters vent their anger at banks for preventing people from accessing their savings and a long serving political elite is being blamed for mismanagement and corruption in recent days the local currency has sharply devalued against the dollar there were casua
A currency crash pushes its economy to the brink. This new in may president. Police in the philippines are accused of abusing human rights as they enforce strict coronavirus measures. So the economic effects of the coronavirus pandemic are being felt in many parts of the Global Economy aviation and oil in particular and they are hitting the big players has already said its bleeding cash at an unprecedented speed and announced it would cut production by a 3rd now its posted a 1st quarter loss of half a 1000000000. 00 the chief executive of the European Aerospace company is warning this is the greatest crisis the industry has ever known its u. S. Rival boeings already announced plans to cut 7000. 00 jobs with its chief executive predicting Global Airline revenues could drop by more than 300000000000 dollars this year and the industry will take years to recover and in the u. K. British airways is set to shed up to 12000. 00 jobs about a 3rd of its workforce the airline has suspended 96 pe
Clinics desperate for supplies after years of blockade. Also ahead after 9 years of war in syria the 1st trial linked to alleged state sponsored torture kicks off today in germany. Install the n. F. L. Draft gets ready to go virtual the games best Young Players will be selected remotely with millions of fans watching on. Lets get going beginning this news in the United States where figures just paint a devastating picture of the state of the economy in just 5 weeks all of the jobs created since the end of the 2009 recession have been wiped out here are the numbers last week another 4400000 americans filed for Unemployment Benefits. Thats fewer than the week before when more than 5300000 registered for jobless support but the speed of the rise in those figures is unprecedented in all more than 26000000 americans have now applied for Unemployment Benefits since the end of march that was when President Donald Trump made the 1st of his covert 19 outbreak declarations lets talk now to our W
We were effectively at the lower bound already, so that is coming in at 25 basis points. The Canadian Dollar was already weaker before this. It is weaker now by 1. 5 versus the u. S. Dollar. Lets take a look at where we stand markets wise. We knew after the retail sales data we would like to down, and we are. Awn 2. 4 for the s p 500, and move for the 10 year yield is well back down to 66 basis points. Crude oil has recovered ever so slightly. We were at the 19 handle for most of the morning. 42. Vix is back up to what is happening in europe, guy . Btp spread is widening out. It seems every nation for themselves. It seems there will be no mutualization of debt. Every sector is a negative territory right now. The banks and the oil stocks are the worst performers. You got a pound on offer, the dollar generally bid today. The market is looking for a little bit of safety today. Vonnie arent we all . Lets get you our first guest. We are delighted to be joined by joseph stiglitz, Columbia Un