Technical people captaining the ship. Better markets, futures up five. The german headline that we just saw really shows a continued stimulus in the air. Francine it is. First of all, well done to our superteam doing a great job. Germany, we had that headline minutes ago which is why i was looking down, the stimulus package to boost the post virus economy. And number of initiatives in europe, and a couple of governments saying not only minimum wage but no company big or small will be left to fail. In france, they made a lot of workers take their holidays last week so if they can reopen they will do so in july and august. The European Union was looking at suspending the budget deficit rules which would be helpful for companies to spend as much as they can. Tom lots going on. We will talk with Kevin Cirilli about that press conference yesterday and dr. Fauci not in attendance. Right now with the news in new york city, viviana hurtado. Viviana republicans and democrats are trying to reach
Stimulus. Is there fiscal stimulus in the United Kingdom . Francine there is fiscal stimulus. One of the first things we covered a couple of weeks ago was this treasury and bank of england acting together. The u. K. Probably has to do more, but they were at the forefront of it and they acted in a coordinated action of fiscal and lending to businesses. The loans and credit lines will make a big difference but it depends on when the economy gets back on its feet and when people start going back to work. You put cash into businesses and suspend payments, but at some point people have to go back to work. Tom the president talking of back to work near easter, or part of work part of america back to easter. Gdp for the stimulus and the United States commitment is a huge 5 of gdp and even up to package. Trillion a 2 trillion package. The Trump Administration and u. S. Senate agreeing on the rescue package calling for almost 2 trillion in spending to boost the economy. Deal. Last, we have a af
Velocity to the dollar and cash, it only have i never seen it, would say biblical times but i was not around for that. Francine i will have plenty more on that. Lets get to bloomberg first word news. Viviana we begin in china for the First Time Since january the nation reporting new cases of the coronavirus in the single digits. A month ago china reported almost 15,000 cases in one day. It is a sign of viral outbreak may be coming under control. Still the disease is spreading in the u. S. And europe. Italy has more than 15,000 cases and over 1000 deaths. The u. S. Is now up to 1500 infected. A state of emergency declared in new york city last night. To capitol hill and how House Speaker nancy pelosi saying she is near an agreement with the Trump Administration on a coronavirus bill. For paid sicking leave and more aid for those who will lose their jobs. Policy hopes to have a deal today. Investors looking to the Federal Reserve. The fed unleashing a trillion dollars but failed to help
End into the weekend, major curve flattening. Francine yes, major curve flattening. We will analyze that during surveillance. For first word news in new york city, here is viviana hurtado. Hi, viviana. Viviana the coronavirus epidemic has entered a new phase in cases outside of china is quickly are quickly multiplying. South korea and japan closing in on 100 cases. China, though, still the center of the crisis. Roughly 75,000 infections have been reported, but the new number of cases declining. Intelligence officials reporting the u. S. Congress russia is trump to get donald reelected. The president was angered by the disclosure, reportedly claiming the democrats will use it against him. Donald trump said he will not immediately pardon his former associate an ally, roger stone, still, if courts do not overturn his conviction, President Trump said he will intervene in the case. Mr. Stone was charged for lying to congress and witness tampering. Wells fargo, bloomberg learning it is set t
Im Francine Lacqua in london. These are your markets. 0. 4 . An markets down a lot of the market put a position that the economy and a lot of the earnings would go through the coronavirus. Not so after the apple news yesterday. There is more concern about the deadly coronavirus trade looking at treasuries, they are rising. Americans reopening after a holiday. Yesterday was president s day. Jumping as much as 24 after unsuccessful bid for the small arrival. This may be the kickoff of banking consolidation in italy and then further into europe. Coming up on bloomberg surveillance, our exclusive conversation with the hsbc Financial Officer on the banks job cuts. First word news. Viviana hsbc is set to slash 80 of its workforce. The lender taking more than 7 billion of charges and suspending buybacks as part of a restructuring plan. Plans to exit some businesses and cut costs. Hsbc still hunting for a permanent chief executive. We also spoke to the lender cfo about the coronavirus outbreak