Will accept junk, recent fallen angels as collateral. Time now for todays market moving news from brussels in new york. We want to begin in europe, where the pandemic drove the economy to a record slump in april. Pmi Area Services completely decimated, falling to 11. 7. Manufacturing also dropped to 33. 6. Bloombergs maria tadeo joins me from brussels. Maria what you are seeing is that the Coronavirus Crisis is going to do a lot of damage to the european economy. [indiscernible] brussels tell us they do anticipate a contraction for the entire euro area. This is potentially huge. Youre seeing again the European Central bank stepping in to try to shield some of those markets, in particular in countries like. Taly ,he other side of the equation what exactly are european leaders going to do to help the ecb, to put more money on the table and also protect their own economies . There has been a lot of backandforth. Perhaps a 2 trillion euro package. But all of this is still very much in the
A deal to cut production iran says its exempt from the agreement along with libya and venezuela. A 2 week cease fire comes into effect in yemen but the heathy say they wont stop fighting while the country is still under siege. And hundreds of millions of children desperately needing food we look at the difficulties for aid agencies during the coronavirus crisis. So that the damage to the worlds biggest economy from the current of our shutdown is really hitting home in the past week another 6600000 people in the United States have joined the jobless queue and that means nearly 17000000 americans have now filed for Unemployment Benefits in just 3 weeks that figure is around one in 10 workers White House Correspondent can be help it says there are fears the figures could be even worse. Nothing like this scene in modern history and it is expected to be more because heres the reality the states unemployment offices are overwhelmed they cannot keep up with the processing of claims so weve ha
Relationship, turnbull had for new york after what was described as the new president s worst ever call. We have world coverage here in daybreak asia, lets check Energy Markets and see whether chinas challenge to boeing and airbus is actually a threat. Betty and we will see if whether President Trump and australias Prime Minister can mend ties after that tends phone call this year. And come up Berkshire Hathaways shareholder meeting. Liu inive, i am betty new york. It is just after 7 00 p. M. Yvonne it is just after 7 00 a. M. Here in hong kong. We have this capitulation in the commodities market. Betty the markets would have gained except for the fact we had oil prices really dragging down to some of these Energy Shares. Oil continuing to plunge lower and lower. Brighter for investors, the Health Care Bill passing the house, the senate, and whether it will be put into action. We have the big jobs report. Yvonne they are looking for a reprieve, not what they have seen in march. The fed
Her steadfast partnership. We will take a closer look at what they said. Also, Hillary Clinton makes her first public appearance since losing to donald trump, and she speaks out about personal in fact impact. The human cost of smog in new delhi. Schoolchildren try to protect themselves in the worlds most polluted city. I am brent goff, it is good to have you with us. We begin with their public display of affection. Barack obama and Angela Merkel have thanked each other for years of close corporation. Of their final joint press conference in berlin, before he leaves the white house, they paid tribute to the strong ties between germany and the United States. Reporter the gloomy weather did nothing to dampen their spirits. At their meeting, obama and merkel celebrated eight years of collaboration. Obama praised the german chancellor as an outstanding politician. If she were to stand for chancellor once more, he would be behind her. President obama if i were german, i had a vote, i would s
Gain of 44 cents. 44. 67 ber peril. Brent at 48 this morning. And out of brazil, the senate has decided to proceed with a impeachment of dilma rousseff. Vice president will replace her during the trial and permanently if shes guilty. 180 days guaranteed that shes out . Yes. While they undergo trial. Trial. And then they have a vote and the senate has to vote by twothirds to push her out permanently. We think based on the trial. But nobody thinks the trial is relevant. They think they already know the count in advance. And interesting the way the stock market has reacted. It was at one point maybe it still is the best performing market in the world year to date. Trading on her eventual departure with the idea that the Vice President is more market friendly. Almost anybody could be more market presently than dilma rousseff. Whats up . Closen on fifty in oil. The market was down 200 and supposed to be corelated. Doesnt work anymore. And then. Where did they get that . Squawk box. The diam