tv The Briefing BBC News March 16, 2020 5:00am-5:30am GMT
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this is the briefing, i'm sally bundock. our top story: the federal reserve cuts interest rates for a second time to protect the us economy from the worst consequences of the cornavirus pandemic. as germany imposes border restrictions and spain imposes a lockdown, we'll have the latest on the stress placed on emergency services and health workers. and here the uk government comes under pressure to clarify its strategy on mass gatherings and how hospitals and schools should cope. and last orders in new york and los angeles as bars, restaurants and cafes close down to halt the spread of the virus. and with major sporting events cancelled or postponed, how does the sector survive
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the coronavirus outbreak? a warm welcome to the programme, briefing you on all you need to know in global news, business and sport. and you can be part of the conversation — tell us what you think, just use the hashtag #bbcthebriefing. central banks around the world, led by the us federal reserve, have taken concerted action
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to halt the economic slump provoked by the coronavirus pandemic. the fed slashed interest rates by a full percentage point on sunday and announced a multibillion—dollar package of quantitative easing, to encourage spending. it said it expected a rate of virtually zero to be maintained until the bank was confident that the economy had weathered events. here's president trump's response. the federal reserve is going to be purchasing $500 billion of treasuries and $200 billion of mortgage—backed securities and that number can increase, but they are going to start with that and that is really good news, it's really great for our country. it's something that we're very happy, i have to say this, very happy. mariko 0i is in our singapore business hub and has been looking at how the markets have
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reacted to this news. what was the reaction in asia? a little bit mixed. let me show you how japan's nick a little bit mixed. let me show you howjapan‘s nick hayes trading, downjust a you howjapan‘s nick hayes trading, down just a tad you howjapan‘s nick hayes trading, downjust a tad but it's been in and out of the negative territory because the bank ofjapan negative territory because the bank of japan has negative territory because the bank ofjapan has also moved its monetary meeting from later this week to today. thanks nikkei. a lot of traders have been frustrated that a lot of investors have also been hoping they will make some kind of announcement to stimulate the economy and that's why japan's nikkei is doing 0k economy and that's why japan's nikkei is doing ok so far that if you look at other markets like hong kong, that is down by more than 2%. and that's the same story across the region. a lot of down arrows throughout this morning which is probably not what president trump had expected. that's being indicated through us futures. a
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lot of down arrows there as well and it seems like investors have been spooked by the fact that the fed had to react so quickly because the scheduled meeting in a couple of days, they had to actually move the decision forward, which is quite unprecedented and that goes to show how the fed is worried about the situation. it could be worse than a lot of economists and investors have been anticipating. a lot of data coming out of china showing what damage has been done so far. indeed, we got the first batch of chinese economic data coming out this morning and it's a lot worse than expected. down more than 20% in the month of february. economists have been predicting some disappointing, depressing figures but not as grim as this
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as well as industrial output coming in almost 50% lower so that goes to show how the pandemic has affected china's economy nearly two months ago and how that affected the chinese economy, now we're seeing this pandemic spreading across the world. and how they could also have a impact elsewhere. that's why a lot of economists are predicting this could actually lead to a global recession. thank you very much indeed, we'll see you in business briefing. jeremy thomson cook, chief economist, equals group joins me now. what is co—ordinated action look like? central banks over the last four or five trading days and the ability to allow
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businesses access to cheaper funding so hopefully they can tie themselves over during this period where we are seeing demand from consumers, demand from businesses falling off a cliff. and with the fed reducing rates to zero. also enabling money to be available. will this be affect even in terms of stemming, i don't global recession? the fed can't change tax policy and can't increase government spending that these are believers with historical lows and $700 billion of additional spending isn't enough to support the banking system and allow them to support the business is that have accounts with them and lending relationships with them. the key thing for me are due for example on how we go
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about our daily business is what government does as far as fiscal spending, whether we see tax breaks for small and medium—sized businesses, whether we see payments made by government to individuals or businesses to be able to tie them over and that's what we're waiting for an that's why markets are still pessimistic stop in 2008, the banks were being bailed out, some sectors, some industries which will need the financial support. i'm thinking of airlines. anywhere where people come together and it's going to be travel, airlines, restaurants, bars, cinemas, gyms, everywhere where you could possibly keep something or are delayed by an influx of people. or sit next to someone or influx of people. or sit next to someone or have a face—to—face conversation with someone or face—to—face conversation with someone or in the large group. there is going to be considerable pain. he is in
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isolation in the green room and will come back. i will have a copy. we will see you soon for the news briefing. across europe, the number of coronavirus infections has risen sharply. italy, spain and france have all recorded their highest death tolls in a single day. strict measures have come in to force across the continent to try to limit the spread of the virus. including the closure of schools, shops, and businesses — and the sealing of borders. rich preston has this report. a wave of restrictions across europe from the closure of borders to the shutting of schools, restaurants and business. millions of people have been told to stay at home. as the number of cases climb in germany, it has announced it will seal its borders with france, austria and switzerland. people without good reason will not be allowed to cross into the country. commuters and goods vehicles will be exempt. there are now more than a800 confirmed coronavirus cases in the country with 12 deaths. in the netherlands, which has seen more than 1100 cases, bars,
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restaurants and cafe's will be closed. last round! in amsterdam, queues outside cannabis cafes with customers hoping to make a purchase before the door is shut. croatia says anyone arriving from a country with infections covid—i9 infections must self isolate for 14 days. european union members have been told the best way to get through the crisis is to pool resources and work together to start making essential life—saving equipment. we are working with industry to ramp up reduction. second, we need to keep in the eu the protective equipment that we need. this is why we adopted today and expert authorisation scheme for protective equipment. this means that such medical goods can only be exported to a non—eu country with the explicit authorisation of the eu governments. in the czech republic, people are only allowed to go out to go
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to and from work and purchase food, medicine or make an urgent family visit. otherwise the instructions are to be at home. in poland, mass is held in empty churches. austria is banning any gatherings, public or private, of more than five people. in ireland, pubs will be closed. pressure is mounting on government to act rigorously to limit the spread of the disease and to put measures in place to be able to deal with the increasingly large number of cases. let's brief you on some of the other stories making the news. new zelaand's prime minister jacinda ardern has confirmed the country is to ban gatherings of more than 500 people. schools and universities will be excluded from the rule for now, but that may be revised. she also said there would be zero tolerance for anyone who violates the country's new self—islolation rules.
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the south african president cyril ramaphosa has declared a national state of disaster following the coronavirus outbreak. he said citizens from high risk countries would be denied entry and screening would be strengthened at all major airports. brazil's president, jair bolsonaro, has left self—isolation to greet pro—government supporters protesting against the congress. he was seen shaking hands and taking selfies outside the presidential palace in brasilia. mr bolsonaro put himself into quarantine after at least five members of his delegation tested positive for coronavirus over the last week. in china, for the third consecutive day, new cases of the virus that were contracted outside the country outweighed those that originated in the country. as a result, beijing's city government has ordered all international arrivals to go into quarentine facilities for 14 days. in all, china has now imported 123 cases from abroad out
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of a total of just under 81,000. here in the uk, the prime minister is stepping up efforts to keep the public informed about its plans for tackling the coronavirus outbreak, and how to protect themselves. borisjohnson will hold the first daily news briefing today, afterfacing criticism over the government's communications strategy. the number of people who've died of the virus in the uk has risen to 35, an increase of 1a in 2a hours. simonjones reports. this is something we are now going to be sitting on a daily basis. the prime minister and senior ministers supported by scientific and medical experts holding briefings following criticism that there has been a lack of transparency over plans to stem the spread of the virus. many admit they are anxious particularly after the
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government said over the coming weeks everyone over the age of 70 could be told to stay at home potentially for a period of months. it'sjust scary and straightaway it scares my husband and yes, because he is then that age bracket. husband and yes, because he is then that age bracketlj husband and yes, because he is then that age bracket. i don't wa nt to then that age bracket. i don't want to be locked away for a few weeks. ahead of today's conference there will be a meeting of the cabinet officers of the government's emergency macro committee, looking at the next steps for shielding the vulnerable and elderly from the virus and whether mass gathering should be banned. also a phone call involving leaders of the g7 nations in which borisjohnson will urge them to put more money and expertise into speeding up the development of the vaccine. among those to have lost their lives is regard police officer nick matthews, 59. he previously suffered a heart attack. his wife described him asa attack. his wife described him as a soulmate. and jess martinez‘s grandmother —— grandfather had died. he had
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tested positive. it was very shocking. 0bviously tested positive. it was very shocking. obviously we are grieving. there is a lot going on. but now the warriors for the rest of my family and everybody else that may go through this. to his demand in the emergency services, the scottish government says gatherings of more than 500 people should be cancelled from today and head teachers, feeling the pressure, will meet the education secretary to discuss their concerns. british holidaymakers have been facing a battle to get home other countries like spain went into lockdown. this was a scene at the airport in tenerife. in the us, the races want to get out before transatlantic flights grounded. stress levels have changed, been feeling very, very anxious and just reeling wanting to have the security of getting on the plane and taking off. the sense of uncertainty has meant panic buying in the shops is continuing. it's clear that daily life will not be
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normalfor some time to that daily life will not be normal for some time to come. stay with us on bbc news, still to come: more on the impact of the coronavirus on sport schedules and why italy has called for the 2020 euro competition to be postponed. today, we have closed the book on apartheid and that chapter. more than 3,000 subway passengers were affected. nausea, bleeding, headaches and a dimming of vision — all of this caused by an apparently organised attack. the trophy itself was on the pedestal in the middle of the cabinet here. now, this was an international trophy, and we understand now that the search for it has become an international search.
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above all, this was a triumph for the christian democrats of the west, offering reunification as quickly as possible, and that's what the voters wanted. you're watching the briefing. 0ur headlines: germany imposes border restrictions on five countries as the death tolls rises in europe. drastic action from the us federal reserve to tackle coronavirus: it's cut interest rates to 0.25%, and announced co—ordinated action with other central banks. new york and los angeles have joined paris and berlin
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in closing bars and restaurants, cinemas and theatres. let's talk to david willis who is in los angeles for us. david, talk us through these latest measures being taken into effect. let's start with new york, where the mare there, i new york, where the mare there, , build de blasio is urging people to come to the a cce pta nce people to come to the acceptance that combating the coronavirus will involve them adopting what he called a wartime mentality. new york is not only closing bars and restau ra nts not only closing bars and restaurants at his order but cinemas and other entertainment places, theatres as well. several other states, 0hio, illinois and massachusetts are following suit, and the governor of california, gavin newsom, california is america's most populous state, he is also urging bars and restaurants to
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close down or make themselves available only for pickup or delivery. all of this follows president trump's warning to americans not to stockpile essentials such as toilet paper and hand cleanser and so on. he told a press conference that america's supply chain as he put it, remains robust. and eve ryo ne put it, remains robust. and everyone is braced for how wall street will open later, when monday trading begins. what is the feeling among people, david, as you talk to people about how this is all being handled? i think there is a lot of concern here sally, president trump was responding to the fact that there has been panic buying in grocery stores, many parts of this country, and that move by the us federal reserve , that move by the us federal reserve, america's central bank, to bring down interest rates to virtually zero here, a sign of how the economy, there
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are concerns about how the economy here could be impacted, it isa economy here could be impacted, it is a well‘s largest economy of course, and the fed announcing this on a sunday evening, would you believe, clearly believes there is a lot of risk to the health of the economy here, and the global economy here, and the global economy as well. it is hoping that by cutting interest rates, that by cutting interest rates, that will shore up small businesses, giving them less interest to pay, ditto those with credit cards here, but how much it will actually do to get people out and spending again, i think remains to be seen, sally. thank you very much indeed, david willis for up with the latest on that. —— for us. for the first time in three weeks, south korea has reported fewer than 100 new coronavirus cases. the country has the highest number of cases in asia after china, with over 8,000 confirmed infections and 75 deaths. but south korea seems to be enjoying a downward trend in new cases. here's the country's foreign minister
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explaining how. the basic principle is openness, transparency and fully keeping the public informed, and i think this is paying off. testing is essential because that leads to early detection and minimises further spread and quickly treats those found with the virus, and i think that is the key behind our very low fatality rate as well. however, one protestant church in the country's tenth—largest city, seongnam, has alarmed local authorities. a0 members of the river of grace community church, including the pastor and his wife, have tested positive for covid—19 after attending a sunday service about a week ago. six other people who had come into contact with the infected church members have also been confirmed as having the virus. now, coronavirus has prevented
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lots of sport taking place over the weekend, so let's check in with the latest developments on that, and the sport which has taken place, with our team at the bbc sports centre. hello, i'm chetan pathak with monday's sport briefing. we start with the italian football federation which is now calling for uefa's euro 2020, set to be played from the middle ofjune, to be postponed so that the serie a season can be extended. like all major european football leagues, matches are currently suspended because of coronavirus. the federation president says the idea will be put to uefa on tuesday, when an emergency video conference is being held with 55 member associations to try and figure out a way forward. ferrari has suspended it's formula 1 team operations and closed its car factory until 27 march as a result of coronavirus. it's part of a wider lockdown that began last week across italy. ferrari says the decision's been made for its
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employees' wellbeing. 0ther f1 teams are still working for now, despite the uncertainty over when the season will actually start. an unbeaten century by australian chris lynn took lahore qalandars into the semifinals of the pakistan super league in lahore. multan sultans, who've already qualified for the semis, lost moeen ali in the first over but then kushdil shah made 70 as the sultans fought to 186—6 from their 20 overs. the lahore openers then put on a century partnership, pakistan's fakhar zeman with 57 — but it was lynn who was the star of the show, hitting the winning runs with his eighth six of the day. the qalandars will play karachi kings in the first semifinal on tuesday. as you know there isn't a lot of sport in the diary at the moment, but there are a lot of meetings. top flight rugby union in england could be the next big sporting league to postpone fixtures due to coronavirus.
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premiership rugby is considering a 12—week suspension of top—flight games due to the outbreak. a special meeting will take place on monday when clubs will discuss a range of potential next steps. how long the postponement is for is up in the air, it will be discussed on monday, it could be four weeks, it could be as many as ten or 12 weeks. but there is a feeling at premiership rugby that continuing to play in the current climate is simply unfeasible. so that call will be made in the next day or two, andi be made in the next day or two, and i am also hearing that european cup rugby will also be postponed. the quarterfinal weekend is scheduled for the first weekend of april, they won't be happening, they will also put their rugby on hold for the foreseeable future as well. horse racing in britain is expected to continue behind closed doors until the end of march because of coronavirus, with the sport's leaders meeting to discuss the decision on monday. the british horseracing authority says that a decision on the staging of the grand national, which is under three weeks away on 4 april,
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will be announced "as soon as possible". and finally, with the english premier league season suspended, it's safe to say there are plenty of players with a lot of time on their hands. but liverpool's alex 0xlaide—chamberlain isn't spending all his time worrying about how his side are going to win the title. here he is with his girlfriend perri edwards from girl band little mix, with a perfectly correographed dance routine, showing that even at times like this, he's going to keep moving! you can get all the latest sports news at our website, that's bbc.com/sport. but from me, chetan pathak, and the rest of the sport team, that's your monday sport briefing. 0ur our thanks to the team for that. in just watching social media as ever, thank you for your comments on our hashtag,
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your comments on our hashtag, you have various comments on our views on coronavirus and how it has been tackled in various countries, the government action that has been taken, it is very interesting to hear from you. taken, it is very interesting to hearfrom you. one taken, it is very interesting to hear from you. one tweet thatis to hear from you. one tweet that is proving to be getting everyone's attention right now which is someone i follow is robert reich, a professor at berkely, former secretary of labor in the us government, and now works in the area of lecturing about labour, et cetera. this is a tweet he has put up about 12 minutes ago, that has been retweeted co nsta ntly that has been retweeted constantly at the moment, he says "mcdonald's, burger king, pizza hut, taco bell, wendy's, subway, none give their workers paid sick leave, they should be required to post a sign adores, that says we don't give our workers paid sick leave, they should —— they may be sick when they serve you." that is the
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toy that seems to be going, pardon the pun, viral right now. stay with me on bbc news, i'll be back with the business briefing in just a few moments. some good news on the weather front, monday is expected to be a sunny day across most of the uk. the weather front is we had during the course of the weekend have been pushed away towards the east, as this gap in the cloud here, high pressure builds in from the azores. that has allowed the skies are clear overnight, but it is going to be nippy, a widespread frost first thing in the morning on monday. let's have a look at these temperatures. in some parts of northern scotland it could be as low as around minus four degrees, probably close to —2 in the lowlands. cardiff at around freezing and even in plymouth itself, a real nip in the air. with the exception of a few areas of cloud, it is going to be a sunny day across england and wales, eastern scotla nd england and wales, eastern scotland as well, you can't
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miss this, the next weather front is coming in and it will bring rain to northern ireland and western parts of scotland later on monday afternoon. the vast majority will have a fine, sunny day. here is tuesday's weather forecast, and weather front is slicing the uk in half, between the high on the south and the low pressure the north. what does that mean? it does mean that there will be more cloud around on tuesday, in fact many western and northern areas will be pretty cloudy and in fact we are expecting some heavy rain pushing in here, to northern ireland and again western parts of scotland. but these are south—westerly winds, so these temperatures really will be picking up, midteens quite widely across england. and those conditions will continue through the course of tuesday and wednesday, meaning the south—westerly winds will persist, whether fronts are with us, again a fair bit of cloud, some rain around as well, a different story here in scotland, you can see the wind direction, it is more west
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north—westerly, cola, so here temperatures will be lower, talking may be around 7— eight celsius, whereas in the south, we have a south—westerly flow ofair, around we have a south—westerly flow of air, around about 16 degrees. thursday and friday, a bit of a question over exact what the weather will do, thinking is will be a weather front park across the south of the uk and that means that thursday and friday we could catch some rain, particularly across southern parts of the uk and then it will probably dry out come the weekend again. that said, goodbye. —— that's it.
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you will this is the business briefing. i'm sally bundock. cut and cut again: the us federal reserve slashes interest rates for the second time in just two weeks. and with major sporting events cancelled or postponed, how does the sector survive the coronavirus outbreak? and on the markets a mixed reaction in asia to the latest move from the us central bank — investors remain unconvinced
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