It is official. The pandemic has triggered the steepest Economic Contraction in history, but markets in this final hour dont look nearly as bad as they did when the number for gdp q2 came out earlier. Right now, the dow is down 193 points but the low had been a loss of more than 500 points. Yes, we saw that the covid had created a stunning collapse in growth but nowhere at the moment where we see the nasdaq up 56, thats where we see some real strength. But the reaction is most prevalent in safe haven government treasuries. To the tenyear yield which moves, by the way, inversely to the bonds price, diving into a hole. We are at. 55 for the tenyear yield, as worried investors decide it is risk off. All right. So President Trump is making comments right now at the headquarters of the American Red Cross in washington, d. C. Lets listen in for a moment. These therapies transfuse powerful antibodies from the blood of recovered patients to help treat those battling the current infection that
Of a looming election. Steve clemons in conversation with leading voices on the bottom line your weekly take on u. S. Politics and society on aljazeera. Hello im Adrian Finighan this is counting the cost on aljazeera a look at the world of business and economics this week war games in the South China Sea washington sends in Aircraft Carriers as beijing use its economic might to expand its territorial ambitions. Big oil gets ready for a post covert world with billions in nigeria gets ready to export gas to europe. But no money to send home families struggle to pay for food and rent its global witnesses to the pandemic. In the himalayas in disputed territory china has been exerting its presence to deadly effect 20 indian soldiers were killed in hand to hand combat the standoff between the 2 Nuclear Neighbors is just the latest move by an aggressive beijing to use its growing economic might in territorial disputes from taiwan to its control over hong kong but its president xi is reach acr
Actually, if people are lawabiding, they never think about endangering National Security, there is no cause for concern whatsoever. Is if therelegation is a National Security law in hong kong, the law should be enacted in hong kong by the Legislative Council. It should not be happening in beijing. The Hong Kong Government has been kept in the dark and the process. Again, this is wrong. Firstly, this is a national law. Of course if it is International Law it will have to be decided how to enact the law. Now, basic law states clearly that for matters of national , thise or Foreign Affairs is a matter for the cbg. No one would question that National Security is something outside the high degree of autonomy. Its a matter of sovereignty of the country. 18 after basic law, theres a process that allows National Laws to be added for implementation through hong kong through a specified procedure. The third point is the political reality. If you believe given the current political reality, given
Of impact as nasdaq saw third record finish in a row. The investors investigating big week for earnings. Here we go folks. Big banks including jpmorgan wells fargo city group and bank of america on tap to report this week. And back to the happiest place on earth disney world reopens in florida. The despite a record surging case in that state. What is being done to keep visitors safe. That is ahead. And chinese new a l products possibly only hold company considering pushing back annual reveal of newware what is you should and should not pick up right now. And if you developed bad habits in quarantine, you are not alone. What you can do to break them. Thats coming up, mornings with maria is live right now. Right here we go with european stocks they are up this morning. There is optimism other earning season reaching across the globe as you can see the tax 40 in green and a meeting about European Union Recovery Fund proposal. Now to ash sha overnight green acrossed board there as well. Ma
What im focused on in this you know what im what in organize you know im not going to sit there and. Point 0 point one see it gets us into say yes it can only save but are going on what theyre being funded. Job cuts a dime set to run deeper than ever previously fayad the most eightys make assess the 15000. 00 it had earlier warned off to a no longer be enough. Coronaviruses it exposed whats been called modern slavery in british textile factories the workers making well below the minimum wage. And keeping connected to look at the stocks about how to be able to stay in touch. With their loved ones during the coronavirus pandemic. This is due to be business on robots in berlin its great to have you with us so diner says it will need to make further job cuts on top of the 15000 it was already planning the maker of missed sadies benz cars and says it needs to increase cost cutting its demands for its vehicles slums time the current employs nearly 300000 people white. When i speak to christi