and a sad day for journalism down under a national news agency australian associated press is to close out that 85 is in business. i believe it's all in let's do business the corona virus continues to cause economic havoc more warnings today over shortages of medicines india is the world's main supplier of generic drugs the cheaper ones has just restricted the export of $26.00 pharmaceutical and gradients and drugs which contain them it's all says most of those ingredients from china are the source of the broke while india's health minister was sitting down to report 2 more cases of corona virus earlier this week elsewhere in the government plans are being made to protect the country's drug supply on tuesday we saw the results of that india's director general of foreign trade published a long list of 26 ingredients including paracetamol and numerous victim in b. compounds and said they can no longer be exported that amount to 10 percent of

india's drugs exports. indian pharma companies get almost 70 percent of their active ingredients from china and the corona virus outbreak has disrupted global supply chains dependent on chinese exports other than mainland china and hong kong some of the compounds can come from european countries in the u.s. but it's doubtful india can make up the shortfall in their chinese supply is shut down especially given the extra costs despite the talk of pharmacies running out prime minister narendra modi has urged people not to panic. pressure is growing on governments and central banks to fight off the virus and avoid a steep slump she 7 finance ministers say they're plotting a powerful and timely response analysts say it's a tug of war between hope and fear central banks giving hope with promise stimulus a straight being the 1st to cut interest rates to the coronavirus down to

a record low of hof percent well vietnam is the latest country to try to give its economy a boost to combat the economic consequences of the disease the government announcing more than a 1000000000 euros in stimulus spending the stimulus package includes tax breaks lower fees and an increase in state spending on infrastructure projects estimates show that code 19 could wipe out a 6000000000 euros in tourism earnings of vietnam. as one of germany's leading economists clamens 1st about the action countries are taking and if this could be a black swan event a real shock to the system like lehman brothers or $911.00. i think we shouldn't exaggerate this but there is a possibility that this becomes a very severe shock maybe 11 that's comparable to the other big crisis we don't know this year it all depends on how the epidemic develops but there is a risk that it's going to be very bad governments that it will be taking the right measures i think that governments and central banks are maybe

a little slow or i believe in taking measures against the spread of the epidemic and then also in taking economic policy measures i think it's high time that the central banks in particular the fed do take measures to calm the markets what sort of measures would you like to see so the fed is best placed to cut interest rates maybe also to buy government bonds we need a clear signal to the markets that something is going to happen governments should focus on stabilizing companies that are directly affected by the virus the trouble is this is a supply shock not just a demand also supply shock and that's difficult to address i think one danger is that people start to think oh my business partners won't be able to pay me for instance and then stop transactions although it's unnecessary so this collapse of confidence needs to be avoided that's why i would say governments should direct targets to companies affected by the virus meaning affected by disruptions in the supply chain for instance. a big trade fairs around the globe are going dark

because of the new growth of virus that some companies are taking their shows online with virtual events as well the world's biggest country exposed the geneva motor show was doing but can't rev up interest in something people want to touch in a life straight the show must go on. and a war in ceremony is taking place but hardly anyone is watching at the venue at least the push out to await was named car of the year here in geneva without a live audience the happy prize winners do their best by video conference to make up for the lack of attendees but somehow it's not the same it's great to be here definitely even it's a bit awkward that the products for a building is almost empty swiss authorities decided to cancel the car show. this decision was made in response to the coverage in 1000 that pitted make which is raging in so many countries around the world and now also in switzerland there

are circumstances entirely beyond our control this is where all the latest models are supposed to be but the holes are empty instead the auto manufacturers showed off the new cars on line highly emotional b.m.w. introduced its i 4 concept a fully electric sedan they get 600 kilometers on a full battery pack and is seen as b.m.w. sansar to tesla. mercedes presented the c.l.a. shooting brake with a plug in hybrid motor the electric engines range is more than 70 kilometers before the gasoline fueled engine takes over. porsche's classic internal combustion engine in contrast drives its new 911 turbo s. model with the maximum output of 650 horsepower the future of presentation may be virtual auto shows have repeatedly been labeled old fashioned in recent years but

maybe the on car maker will feel a hint of the sound and hope that the next major motor show will indeed take place in real life. chief executive all of a brewer how worried he is about the outbreak for the premium kalika. we are warry about it big challenge for the world and talking concrete about porsche we closed our dealerships in february and china and lost the majority of our sales and on the other hand we challenge our supply chain from china to our car production in europe for the world up to now we are stable but is it is a daily monitoring and for the next week i hope they will limit the rows and see what will happen. well the balance is following all these developments for us from frankfurt all the bloom is also on the board of v.w. and he says it's even harder hit than porsche. that's right he specifically

referred to the volkswagen brand and he said that $200000.00 units in production were lost so far because of the outbreak of corona and because of all the disruption in the cord team measures and that's just for the relatively short space of time that he's talking about referring to that number he says that he hopes thinks that volkswagen will be able to make that up in the course of 2020 but of course if. the situation goes on longer it will become all the more difficult and the situation for the volkswagen group it's not just folks who are going to not just porsche it's saudi as well which also has a big market in china so volkswagen not just folks like me other manufacturers are looking at huge problems this is also about whole of colonies what do you think about the criticism that governments and central banks are too slow to react. well i agree and disagree i agree that the government so far have been too slow in

preventing the break in the for example the german government listening to health officials health experts debate this point they didn't close kindergartens for example which would have been a good way to prevent an outbreak that's probably coming through children spreading the disease among others people of course as well or checking people entering germany through airports with a fever i disagree in the terms of say the fed having to lower interest rates to support the markets the markets were up at record highs before this broke out because of low interest rates and part of the correction was due to those record highs in felt a little bit exuberant and only just one little of the question is anyone actually shaking hands there down there on the floor. well 1st of all they're not really in a mood to shake hands but they're not doing it either but it's slow to sink and i'm slow to have it sink in as well but we're getting used to it here holding. for the

private stock exchange thank you. some of the other reports coming in from around the world in relation to covert 19 twitter has asked its 5000 employees around the world to work from home in an effort to stop the spread of the virus governments and infection hotspots have been asking the same social media platforms and staff in south korea hong kong and japan must work from our. officials in japan say they have the option to postpone the tokyo within dates to later in the year if necessary it you've just done in july but the outbreak is throwing the main event into doubt the government minister. says the contract for the games allows for them to be held at any time in 2020. and japanese prime minister shinzo lobby is a people to avoid panic buying of toilet paper dismissing rumors of a shortage of cleared storage shelled sea in recent days the government plans to provide 2 with a half 1000000000 dollars to counter the economic impact of the coronavirus. the

media sector in australia continues to shrink critics say that's dangerous for public opinion the biggest news agency a.a.p. announcing the closure of its news production and sub editing businesses from june about $180.00 jobs will be axed bosses blame at the climate subscribers and free digital news content. over the last 3 decades australian media ownership has been concentrated into the hands of a small clique of powerful business people and mining lobby groups and associated press has long provided essential news and fact checking services to the country's media but on tuesday the agency's may just shareholders 9 in detainment group and rupert murdoch's news corp said the 85 year old institution was no longer financially viable p.c. oh announce the closure saying it was a sad day for australian journalism this is a financial outcome of the disruption that. we've seen

a lot of. cutbacks closures reduction in news coverage by the traditional media companies across australia the rest of the world news agencies have enjoyed for quite a long time but now in a situation where. too many of our customers are now not wanting to pay for up to many of our customers. i guess relying on what is on google what is what is at their own high school he said the closure in june would result in gaps in australian media coverage which would have a major effect on public interest journalism. i said business with you.

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who is going to challenge down the shop the democratic fold fold are fighting for their party's nomination it but tuesday's biggest write more than a 3rd of all delegates are top read on this day. from a to. north east to california here on the west coast we've played all the action and all the results here monday the news. is the bricks distribute so. we are moving the basic elements of our systems players using too much noise and moving the ball the water the fuselage. plane making cold water supplies will last forever the bugs take place when the rain is still good

starts march 20th on t.w. . place . this is due to reduce life for a girl in a show of support the e.u. chief sends a clear message as your confront gratian crisis. those who seek to test europe's unity will be disappointed will hold the line and our unity will prevail in your commission presence or some other line of val's

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