Make up your. Double made for mines. The euro hits a 2 and a half year high against a basket of currencies investors are bullish on europes recovery from the pandemic that has a strong euro but a strong euro rather has consequences for companies who bring you up to speed. Also on the show major Oil Producing nations agreed to bowl back some of their production pandemic production cuts can they ride an oil recovery or are they acting too soon. And the german state helps Small Businesses survive the pandemic by helping them go online. Welcome to the show. Stephen beardsley in berlin good to have you with us the euro is poised to hit a 2 and a half year high against a handful of rival currencies this week its the latest high point of a month long rally for the currency and it comes as rivals have weakens the European Unions common currency broke the 1. 20 cent mark as Inflation Fears hit the u. S. Economy itself against the pound sterling on fears that brags that brags a trade deal will n
To have you with us a progress in Vaccine Development is lifting spirits as lockdowns continue around much of the world but recent days have shown that Vaccine Distribution could be a weak spot take a look pfizer has revealed that it initially overestimated its supply chain forcing it to cut delivery projection several weeks ago instead of 100000000 doses for 2020 it now expects to deliver 50000000 another concern for distribution is security i. B. M. Saying that hackers have targeted organizations working to improve vaccine cold storage in supply chains in suspects state actors may be trying to steal trade secrets or disrupt distribution of finally vaccine financing is a growing concern with International Aid not yet meeting the amount needed to help poor countries heres u. N. Secretary general antonio terrorists at a special covert 1900 some of the new york. U. S. Dollars including 4300000000. 00 urgently needed for the next 2 months. I think those who have contributed and own to sho
In the depths. Or inmate in the shallowness. Welcome back there are few industries in the world harder hit by the coronavirus than the travel and Tourism Sector without question 2020 will go down as one of the worst years ever for the industry but in reality were only in august and still have a long way to go already the effects are being felt in fact the Hotel Industry is warning that as a whole they are facing an absolute Economic Disaster and a desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the United States are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 29000. 00 the same number was 1. 9 percent of hotels and this is just the beginning so joining us now to discuss is boom bust cohost investigative journalist bence want and travel expert from money we have dot com very choice thank you both for joining us today ben i want to start with you can you g
Dollars and they Say International travel for them will not resume until the middle of 2021 the middle of next year you talk about the cruise industry you know the Cayman Islands saying that theyre not going to allow International Cruises to come in to the Cayman Islands until at least after december 31st of this year so it doesnt really matter what sector youre in everybodys taking it on the chin right now and no barrier there are destinations like bali that plan to reopen the tourism by september but overall are people actually traveling right now and will tourism pick up again this year or is everything going to shift to 2021 or is it going to be 2022. I think it really depends on where you live regardless where in the world you are i think domestic trouble is that they yes thing right now obviously mainly just because of border closures you know here in cannes i can only go to certain destinations u. S. Citizens can only go to certain areas but if you can stay domestic theres defin
A desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the United States are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 2019 the same number was 1. 9 percent of hotels and this is just the beginning so joining us now to discuss this boom bust cohost and investigative journalist ben swan and travel expert from money we have dot com barry choi thank you both for joining us today ben i want to start with you can you give us a rundown quick of some of the other aspects of the travel industry struggling right now. Yeah its kind of like a pick your poison kind of situation right now it doesnt matter what part of the travel industry youre in right now things are going very very poorly you have the Airline Industry Quantas Airlines out of australia saying that for this last year of this last fiscal year that is theyve actually lost 4000000000. 00 in australian dolla