Good morning on bloomberg radio. Good morning on bloomberg television. It is extraordinary to be the beginning on global wall street of the holiday season, and i can never i can never think, even the tragedy of 9 11, i cant imagine how much of a tragedy this holiday will be with the pandemic. Jonathan the numbers are terrible. We talked about it an hour ago. We started this month with daily infections in and around 80,000. That has doubled in 11 days. If Health Care Capacity gets tested, they will start to introduce more restrictions. Heres the critical issue. Who is going to step in . Where the fiscal policy maker . Bridgewaterf says we have a mismatch between the length of the pandemic and the willingness of fiscal policy makers to do something in equal length. Tom it has widened out, without question. What is so important here is to gauge the pandemic, and we are all doing that on a local basis. You and i, we hear more sirenss again in new york city, and we are all dealing with the
Will it be a waste of space wales keeps building offices but covert 19 is prompting a push to get more people working from home permanently. Hello china has begun military drills close to taiwan the visit off another top u. S. Official further phrase relations between the superpowers its accusing the u. S. On taiwans ruling party of colluding to stir up trouble and says the exercises are to protect what it sees as its territorial sovereignty there taking place near the Taiwan Strait that lies between china and the islands all taiwanese media are reporting that taiwanese fighter jets were scrambled multiple times on friday morning thats after chinese aircraft were set to have approached taiwans airspace and the u. S. Undersecretary for Economic Affairs Keith Crocker is the most Senior State Department official to land in taiwan in decades and the 2nd visit by a u. S. Official in 2 months be chinese governments condemned the trips and says diplomatic relations between taiwan and the u. S
W business i want to go jones and berlin good to have you with us just 3 months after joining tick talk with great fanfare kevin is quitting the chinese owned video app and his short career with the company the former disney executive 1st found himself bang in the middle of a current tech war raging between the u. S. And china. The big question is will kevin mayer find a u. S. Buyer for chinese video platform ticktock before he goes. 4 ringback so far microsoft facebook and oracle have expressed their interest u. S. President donald trump says the app will be banned in the u. S. Unless its brought up by an American Company open competition far from it tick tock belongs to Chinese Company bite what it actually does with the data of tick tocks 100000000 u. S. Users is unclear chinas willingness to spy on app uses generally is well known. Thats why us social media platforms like facebook you tube and twitter have been banned from operating in china for years there are 2 worlds when it com
Morales. Also ahead united against science well look at whats driving the movement in germany against karun virus restriction is. Our top story the head of the u. N. Food agency says hes worried lebanon could run out of bread in about 2 and a half weeks David Beasleys in beirut assessing the impact of last weeks catastrophic port blast he spoke during a un briefing on the humanitarian situation there 85 percent of lebanons grain came through the devastated port the World Food Program says it sent in 50000 tons of wheat flour to beirut to stabilize lebanon supply lines to be easily says some of beirut port could be reopened quickly to restart imports kristen salumi is in new york explaining what else was discussed during that briefing. This was a chance for the humanitarian affairs chief to brief members states on the situation on the ground in lebanon and the International Response so far secretary general antonio terus called it a huge catastrophe coming on the heels of the socioecono
Quickly. And staying strong. The worlds top iron ore prices are among the highest out of china. Shery lets get you started with another check of how markets are trading at the moment. Futures underu. S. Pressure as stocks fell to the lowest level in two weeks. We are seeing it down 0. 7 . Than 2 ,00 lost more same for the dow and the nasdaq. The dow losing more than 700 points. We had the sharp increase in virus cases, adding to economic anxiety. So risk off positioning was very strong last week. We did get positive data over the weekend, signs that the chinese economy is continuing to recover and profits rebounding in may for the First Time Since november. Take a look at what oil is doing because it continues to fall. Actually, we saw a second week of declines, the second weekly decline since april. We continue to have these lower prices after a cautious rebound, now headed towards 37 a barrel for wti. We also had chesapeake filing for bankruptcy in the u. S. , one of the biggest vict