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
Place in the philippines accused of human rights abuses as they enforce strict coronavirus measures and the outgoing void to me in. Chief for failing to protect muslims im joining us with sports including more doubts around the term care limp exist japans Prime Minister says it wont be possible to host the games unless the coronavirus is contained. Just 2 weeks ago the world learned were on track for the worst recession in nearly 100 years coronavirus pandemic may wipe 9 trillion dollars from the Global Economy well now countries around the world seeing that stark reality play out on their own balance sheet. The Worlds Largest economy for example the United States well its shrunk by nearly 5 percent since the start of the year thats the largest drop since late 2008 and nearly a full percent more than expected well germany europes economic powerhouse is expected to plunge into its deepest recession in 50 years new numbers released by the government have the countrys g. D. P. Shrinking b
Saudi arabias all revenues 24 percent in 3 months as the pandemic drains demand protect the Children Charities sound the alarm about child abuse during long downs. The Economic Impact of the coronavirus pandemic continues to reveal itself in the last few hours the Worlds Largest economy the us reported a 1st quarter g. D. P. Loss of nearly 5 percent thats the worst result since the 2008 financial crisis airplane make a boeing suffered a 640000000. 00 loss in the 1st quarter. Also reported a loss of half a 1000000000. 00 lets cross over now to our White House Correspondent Kimberly Halkett so pretty grim figures for the 1st quarter and apparently theyre expected to get worse Going Forward right. Thats right because this really takes into account the reflection of when the stay at home order started in march but not so much for january and february so there is an expectation that the next quarter is going to be nothing short of horrific in terms of those numbers projected to be almost Gr
Special rapporteur for man mark pulls out the nations leader aung sun so much. Of the continued persecution of Rohingya Muslims. The Economic Impact of the coronavirus pandemic continues to reveal itself in the last few hours the Worlds Largest economy the us reported a 1st quarter g. D. P. Loss of nearly 5 percent thats worst thats the worst result since the 2008 financial crisis airplane make a boeing suffered a 640000000. 00 loss in the 1st quarter an abcess was also reported a loss of half a 1000000000. 00 we have 2 correspondents covering these developments john hendren is standing by for us in chicago to tell us more about the flaws of the Aviation Industry but 1st lets go to a white house forest correspondent kimberly hellcats. Kimberly these quarter one g. D. P. Figures today suggest that the slowdown was beginning before the lockdown began. Yeah you know theres no question that there is a suggestion of that but well there were stay at home or is going into effect at the tail e
Week yeah. This is the expiration day so what happens is you actually its tomorrow, but people are trying to prep it what happens is rusty braziel explains to me, the rollover from the may contract to june occurs tomorrow. The reason that happens is because the may futures price converges with cash and expiration so in other words, youre looking at what the real price is its not the futures price so what happens is that imagine if youre producing at 32 a barrel, 33 a barrel like occidental, thats just youre hurting nobody can make any money at these prices rusty points out that after seeing this, the next month, it might go to zero and thats i think a lot of it is because where will you put it maybe keep it in the ground. It is extraordinary and jarring. And i think its causing the decline. Carl, whats so amazing, it was completely predictable thats why maybe the decline isis really overdone if its based on oil if its based on other factors, i dont know it looks like oil is bringing th