Due to the virus making drugs the scats commodity at a time when they need it most. Places to business. The corona Virus Outbreak continues to dominate business headlines around the globe after wall street made gains to correct last weeks slump asian markets followed suit continuing their recovery on tuesday all prices also extended their rebound as policymakers and central bankers indicated that willingness to ease the economic fallout australias reserve bank is the 1st central bank to react slashing Interest Rates to a record low by 25. 00 basis points to 0. 5 percent the outbreak is plunging the World Economy into its worst downturn since the Global Financial crisis more than 10 years ago pressure is growing on the governments and Central Banks to fight back to avoid an even steep a slump investors are now. Waiting for a Conference Call by group of 7 leaders later on tuesday lets go straight to our financial correspondent. Who is in frankfurt for us watching the markets and of cours
Pressure is growing on governments and Central Banks to fight back to avoid an even steeper slump g 7 finance ministers are set to hold a Conference Call today to agree on a plan to combat the damage of coronavirus has done to the World Economy is a quick rundown of the latest development on tuesday all straight became the 1st company to cut Interest Rates to combat the economic effects of the break down from the point 75 percent to the new 0. 5 percent and this is a record low after a week of severe losses yesterday the dow jones index made its biggest jump since 2009 surging 5 point one percent germanys dax also recovered. In trading on tuesday and in switzerland one of the biggest cause shows in the world was supposed to open this week but thanks to the coronavirus the Geneva International motor show was cancelled as the swiss government has banned all events with. More than 1000 participants so how bad is the situation joined by one man who was supposed to be the Geneva Motor Show
More on all our stories, with analysis from our correspondents, on our website, or you can download the bbc news app. Now on bbc news, live to singapore for Asia Business report. The fed split over rate decision. The fed split over rate decision. The worlds most important Central Bank Cuts the cost of borrowing but policymakers disagree over future moves. Raising to sell off 10,000 tons of pigmeat to help cool soaring prices. It is a thursday. Good morning, asia. Hello, world. Glad you could join us for another action packed edition of Asia Business report. Im rico hizon. We started the programme with the Global Economy because Americas Central Bank has lower the cost of borrowing for a second time since the 2008 financial crisis. The widely anticipated 0. 25 cut comes as fears grow about slowing growth and trade wa is grow about slowing growth and trade wars around the world. But that wasnt enough for the us president. Despite the Federal Reserves long held independence from the white
to the skies for a summer getaway. record numbers of passengers they re predicted to fly this year, with airlines raking in healthy profits and airports fit to bursting. but against a backdrop of war, economic uncertainty, and the year for global elections, can it continue? and, with our climate in crisis, can any of it be done sustainably? i m going to be discussing all of that and more here they are with a host of experts for our bumper aviation special. also, i m catching up with one of the longest serving airline leaders, the industry heavyweight yep, the big boss of emirates airline, sir tim clark. wherever you rejoining me from around the world, once again, a big hello and a warm welcome to the show. now, for many of us, it s that time of the year where we re checking our passports, getting our bags out of the cupboards, and dusting off our shades as we prepare for a summer getaway, jumping on a plane in search of the summer heat or trying to escape it. the ai