States setting another record for new cases of cope with 19 on thursday with the nation seeing a spike in cases as certain regions attempt to reopen their economies Johns HopkinsUniversity Reported more than 40000 cases on thursday in the us eclipsing the previous record of more than 36000 cases reported in april this comes as the director of the center for the centers for Disease Control dr Robert Redfield said he estimates that for every case reported in the country there are likely 10 other infections unreported meanwhile and speaking about the end of the 2nd Ebola Outbreak the director general of the World Health Organization just how similar measures have been taken to fight the 2 diseases and spoke about what it will take to see an end of the kobe 9000 pandemic. Its clear that to bring coded 19 and of control and to save lives we need effective vaccines diagnostics and therapeutics in unprecedented quantities and im president to speed. And its clear that because old people out of 3 schools. All people should have access to all the tools to prevent detect and treated not only those who can afford to pay for them. As we see this surge in new cases lets take a look at the Global Trends and spread of the virus with our 2 correspondents tab injured so where are we today bren so the global case number it has now climbed to over 9800000. 00 cases and the u. S. In the u. S. It continues to lead the world in both reported cases and also reported deaths of course these are all indications that the pandemic is far from contained or over i should say but i want to take you through the numbers and i want to go over the u. S. 1st which this week recorded like you said the highest one day peak since late april and just compared to a week ago thats a 38 percent increase so all in all at least 32. 00 states are reporting increasing cases now thats partly driven by the same states were going to reporting on all week which are california texas florida arizona North Carolina and georgia and right now texas florida and arizona all of which have resisted earlier measures that other states were taken are now actually starting to reconsider so texas reported nearly 6000 cases this week and some of the districts in texas have a nearly 700 percent increase just compared to the last 30 days so i mean thats huge now in order to contain the spread of the virus texas is now also scaling back their reopening plans by closing bars after they had initially been part of the states reopening plans now meanwhile the Florida Health department has also reported close to 9000 new cases on friday and thats the highest one thats the highest single day in. That florida has reported and florida has also had earlier entered into face who are reopening but is now deciding to suspend all Alcohol Consumption and bars since people really flocking to the bars throughout the state without a proper social distancing guidelines of the Florida Governor has also once again announced that he will not mandate facemask requirements throughout the state now moving over to arizona which has so far reported more than 66000. 00 cases and is really in a state of prices as one in 5 tests are coming back positive brand now meanwhile Arizona Public HealthOfficials Say that the states i. C. U. Beds are nearly all full which is why arizonas governor is pleading with the citizens to stay at home if at all possible but once again has not impose statewide facemask requirements and brant right now whether all this increase that were seeing will be matched by a surgeon will actually depend on a number of factors like the age of those infected individual risk factors and the availability of medical care all of which will also depend on how the government continues to respond to the pandemic and started now how does the u. S. Compare to other places throughout the world so the pend make it still very much alive in other parts of the world too now brazil is still a hotspot for the virus the 2nd highest number of cases after us and as you can see i mean is just surging for brazil now india and mexico the average of new cases is also going up now russia is averaging about the same number of cases while peru only has a slight increase in cases now meanwhile the u. K. Spain iran and chile are all starting to somewhat flatten occur but as we are seeing you know countries that are appeared successfully to contain the spread of the virus earlier. Are now seeing sudden spikes as they reopen and lifts lockdowns so all of this that youre seeing could change at any moments time r t correspondent saya tavenner thank you so much for keeping us up to date. And following thursday spike in share prices for big banks friday was a whole different story after the Federal Reserve announced an they would impose new restrictions on the u. S. Banking system now this comes after its annual stress tests show that some banks may face huge shortages of capital under certain coronavirus pandemic scenarios joining us now just as juba hosted investigative journalist ben swan now ben in short what does this mean and what will the fed require banks to do. So essentially heres what happened in this really comes out of the dodd frank bill going all the way back 220072009 remember when dodd frank was 1st put into action essentially with that legislation came rules where the fed has to annually stress test banks around the country to make sure that theyre able to weather certain economic scenarios essentially and so the fed ran these stress tests and what they found was there was kind of a general sense of Economic Conditions being rough and then they ran stress tests on 3 different coronavirus related or specific scenarios one would be a you shaped recovery one is a v. Shaped recovery and one is a w. Shaped recovery meaning that you come out of a recession and then you go right back into it and so essentially they look at these banks and they found that there were at least 30 banks that failed this stress test and what they found was that these banks under certain conditions are right at the minimum level of capital that theyre allowed to have under dog frank in order to not become insolvent and go under and so what the fed is essentially doing is saying for those 30 banks they will no longer be allowed to buy back their stocks and they will limit the size of dividends that can be paid back to shareholders at this time and i know you just mentioned that capping of Dividend Payments and require large banks to actually resubmit and update capital play of why is all of this well it is simply its because it is what the fed is finding is that under that dodd frank legislation these banks are not holding on to the capital they need to hold on to right now what theyre doing is theyre essentially playing too loose with the capital that they have the whole point of dodd frank was to say lets not go back into another situation where banks find themselves insolvent and where and where taxpayers find themselves having to bail out huge Financial Institutions that are unavailable to take care of themselves so god frank was essentially designed to say thats require that banks prove that they are being response. In the way theyre behaving and that they dont have to get bailed out and what essentially the fed found was 30 of those banks are not being that responsible and theyre really in a position especially with coronavirus related economics at play they could find themselves in a very serious position so again as you said there theyre capping these dividends theyre saying you cant be paying out to shareholders right now youve got to really hold on to what you have is so that you dont find yourself in a position where again taxpayers have to bail you out its fascinating because obviously you know so much of the economy relies on big banks but if you look at throughout this pandemic so many Different Industries have called for those bailouts and some of these are Gigantic Companies who are mainstays here in the u. S. Who are saying basically well go under if we have to stay close if youre like how are you operating on that razor thin margins at least banks are to some sort being held accountable in that situation now on thursday christie and i actually discussed the rolling back of the volcker rule how does this move by the fed impact that decision. Yeah i think that what were seeing right now you know as you mentioned in the lead up here we saw you know stocks and banks go way of their doing well on certainly on thursday they were on news of this right and but what is that new saying the news is saying that essentially the feds are kind of laying back and saying remember the volcker rule remember the rules we put in place after 2008 to make sure we didnt have these problems lets loosen that up a little bit or lets at least loosen up our understanding of the rules were going to change the rule but will clarify gotta love the word clarify which means were going to apply new terms to this rule but its so important as you just mentioned something thats critical the essentially during this pandemic itself we do see a lot of industries that are going to the government same bail us out the fact is it was only a little over a decade ago that wall street and banks and Financial Firms already had their moment and there was legislation put in place that said if we build you up today you have to act like this tomorrow so it doesnt happen again and now just over a decade later were not holding them to that and were going to talk about more about bailouts coming up in the show boom bust cohost and investigative journalist ben swan thank you so much. With so much news regarding regulation in the ongoing covert 1000. 00 pandemic markets worldwide are mixed on the week so lets start in russia where the mo x. Is up for the week the index launched after our equity trading earlier in the week and the ruble neared a 2 week high on tuesday before weakening on thursday responding to a fall in oil prices but eased up on friday as oil rebounded and the country witnessed a fall in the daily number of new covert 1000 cases lets move to asia where the markets theyre all finished up on the weak u. S. Regulatory rollbacks for big banks the shanghai composite is green after fighting back from a slip on thursday over the International Monetary funds updated Economic Growth outlook but saw slight gains at the end of trading the composite was closed on friday due to the dragon boat festival holiday in hong kong the hung song finished up just slightly for the week investors remain cautious over the coronavirus outbreaks in the u. S. And around the world and the market was closed thursday for a holiday and slipped into negative territory friday alibaba shares contributed to that slip dropping nearly 3 percent in japan the nikkei is also up for the week gaining more than one percent on friday Softbank Group contributed to the big gains there with shares raising more than 3 percent the topics index also gained just shy of one percent on friday alone lets check in in india where the sensex ended slightly up on the week the index extended gains for its 4th week 2 of the best performers on the sensex were infosys and bank infosys alone surged 7 percent on the week meanwhile the a. S. X. In australia is down just over half a percent for the week after thursdays sharp losses the index gained 1. 5 percent on friday adding 26000000000. 00 in the final. Still not enough to rebound from thursdays losses and bring the index back into the positive territory the all shares in south africa is just slightly down on the week on wednesday the south african finance minister said the main budget deficit would widen to a record 14. 6 percent of g. D. P. In 20202021 with public debt topping 80 percent the country has continued to borrow money to help its ravaged economy due to cope at 19 so lets go ahead and take a walk across the studio to look at europe and the americas were markets have been mixed due to concerns over a 2nd wave of the coronavirus pandemic as well as economies we are seeing reopened in london the footsie its down on the week it slumped throughout the week due to factors we just mentioned still the index rose on friday as sentiment grew over more u. S. Stimulus now u. K. Investors are closely tracking brecks it as talks are scheduled to resume next week despite rising u. S. Coronavirus cases the german dax and the french cac they are both up on the week germanys back to a 10000000000 dollar German Government bailout package while reuters is reporting the netherlands has agreed to a 3400000000 dollar bailout to help air france and. Now moving across the atlantic over to brazil where the evil vessel is down for the week i. M. F. Projections released this week show an even gloomier forecast for the country the nations treasury secretary said the deficit could top 11 percent g. D. P. While the economy is said to shrink 6 to 7 percent the ex is down more than 38 percent year to date just north to mexico the b. M. V. Is also down on the week official data released on friday shows a record contraction as the countrys lockdown has devastated the economy particularly the Manufacturing Sector which plummeted 25 point one percent since march moving north to the u. S. All 3 major indices in the dow the s. And p. And the nasdaq the. All down as the country saw a Record Number of new coronavirus cases investors are also digesting the Federal Reserves move to suspend share buybacks for banks and suspend dividends thats a big deal as well finally moving into toronto the t s x is also down on the week dragged by the Energy Sector that dropped 1 point one percent concerns grow over that spike in coven 1000. 00 cases in the u. S. Which could stall the recovery and just take an overall toll on the index as we continue to see more cases of coping 1000 confirmed in the u. S. The world will be watching as the economy attempts to stay open as always we hear a boom bust well keep an eye on things and bring you the latest and that is this weeks Global Market walk. And time now for a quick break but hang here because when we return while the Airline Industry has struggled in recent months some big changes could be coming to the sector we take a look at some of the issues and what the changes could mean for travelers and as we go to break here the numbers at the close. Our culture is awash in lives dominated by streams of never ending electronic hallucinations that birth shock fiction until they are indistinguishable we have become the most deluded society on politics as a species of endless and needless political theater politicians have more than just celebrities are to ruling parties are in reality one party to Corporate Power and those who attempt to puncture this fast breathless universe up to make news just signed to push through the cruelty and exploitation of the neo liberal courts are pushed so far to the margins of society including by a public broadcasting system that has sold its soul for corporate money that we might as well be mice squeaking against an avalanche but squeak we must. 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And welcome back labor unions representing thousands of airline employees have asked us lawmakers for another bailout as demand has plummeted due to the pandemic you were member us passenger and Cargo Airlines as well as a series of contractors received 32000000000. 00 in aid as part of the 2 trillion dollar cares act back in march now the terms of the aid prohibited airlines from cutting jobs or lowering pay rates for employees through the end of september now the latest ask from the union consists of another 32000000000. 00 which will protect jobs until the end of march 2021 u. S. Lawmakers are planning to start negotiation on the next reid relief bill next month a letter from the unions in question calls for a clean extension of the cares act saying this is the simplest and fastest way to maintain congresss historic commitment to keep aviation workers on payroll many of whom are on the front lines of this deadly virus now for more on this and the state of the Airline Industry lets go ahead and bring in gary left. From the wing gary thank you so much for joining us always appreciate having you on here now were seeing this latest call come from the unions representing Airline Workers and basically saying that they want you know to make sure these people are on payroll still maywood ertl march of next year which is totally understandable but really what theyre also saying is they dont expect travel demand to be picking up before this years end and i just read on view from the wing today that some airlines are starting to talk about selling at full Capacity Starting july 1st so what do you make of all of this. Well there are a lot of them are recovering theres more travel than there was no last week 2 weeks ago a month ago and thats probably going to continue with some stop fits and starts but at the end of the year and the early ones a