Abandoned. And the water striders. Massive mortars are supposed to prevent flooding but they only delay the inevitable. Future 66 meters rising sea levels starts june 5th on g. W. Such. Berlin is such become live tons of the biggest stakeholder sore bureaucrats about to call the shots for one of europes Largest Airlines will break down what 9000000000 euro deal could look like. Also on the show the jobless numbers keep rising in the u. S. Its what all American Workers see when they look into the future for correspondent. And germany develops a public coronavirus out plenty of debate and a look. This is your business. Pork im certain theres a bill and its good have you with us germanys flag carrier says its close to sealing the deal with the German Government to secure a 9000000000 euro rescue package and the airline and its subsidiaries have been hit hard by the coronavirus pandemic and the resulting plunge in travel daily passenger numbers in april were less than one percent of the pr
There and South Africans get some exercise as they celebrate being allowed to leave their homes theyre locked down one of the strictest in the world is being teased. Im sorry kelly welcome to the program but European Union aims to raise 7500000000 euros next week to Fund Research into a vaccine for the coronavirus as well as developing new treatments and more efficient testing the e. U. Commission says that the goal is to develop a vaccine treatment and tests that are available to all who need it and at an affordable price the hope is that the donors will continue to stump up funds in coming months so that the effort can be scaled up and help to pay the cost of distributing the vaccine and medical equipment. And i am now joined by the president of the European Commission ursula fund arline welcome to the program and thank you so much for joining us. Thank you its good to be with you. On monday the European Union is joining forces with Global Partners to raise 7500000000 euros in a worl
House passes and aid package and some corporate bailouts may come at the price of corporate equity stakes. And gilead shares crash as reports suggest its potential covid19 drug flopped in trial. Good morning, everybody. Program. O the we see a sluggish pace reflected in european futures. Much weaker. Features down, plenty of reasons to be gloomy if youre looking for them in terms of u. S. Jobs data, eurozone pmi data. We saw that certainly have an impact. Lets have a look at u. S. Futures. We do see some negativity and u. S. Futures in u. S. Futures. But not to the same extent. As we continue to watch the earnings stories coming in, lets get a bloomberg first word news update for you. The u. S. House overwhelmingly passed a nearly 500 billion. Oronavirus aid plan the white house says President Trump will sign the legislation today New Washington time. Treasury secretary Steven Mnuchin once equity stake in exchange for a share of 17 billion in aid. He says Public Companies critical to N
2. 3 trillion gauntlet against the economic catastrophe caused by the pandemic it was remarkable move coming within seconds of the devastating news that 6. 6 million more people filed for Unemployment Insurance last week the averages were actually able to rally including the down and out stocks dow gaining 286 points s p climbing 1. 54 nasdaq advancing 7. 7 . Without powells extraordinary i was blown away extraordinary announcement, the hideous jobless claims would have pancaked the stock market. Weve gone from the strongest labor market in a half century to one of the weakest in no time flat it didnt matter to wall street because the fed is buying all kinds of distressed debt you dont see i keep saying its so important. Buying municipals. Some of those are hurting. Buy high yield Corporate Bonds thats fabulous news because those were two big pressure points in this rapidly deteriorating economy. What a difference from the old days between the 2. 2 trillion rescue package from congress
We are going to go through a very tough two weeks and then hopefully as the experts are predicting, as i think a lot of us are predicting after having studied it so hard, we will start seeing real light at the end of the tunnel but this will be a very painful, very very painful two weeks. Stuart the president s top medical advisers project a death toll in america of up to 240,000. Everyone is now paying attention. Now weve got to focus what will likely be the worst Economic News coming at us in generations. Millions of people will not be paying their rent this month. How will that ripple through . Millions of people have just been laid off. New unemployment claims coming out tomorrow will again show millions added to the jobless list. The airlines, they are reporting passenger traffic levels down 88 in two weeks. And Mortgage Applications down 24 from last year. The market, of course, reflects these new uncertainties. The dow dropped over 400 yesterday and this morning, its likely to o