our chief result on the alliance is europe will provide greece the support it needs to deal with the surge of migrants from neighboring turkey greece has been preventing thousands of migrants from crossing its borders after turkey said it would no longer stop them from traveling to the e.u. . coming up next the u.s. federal reserve slashes interest rates as fears over the corner virus hit the global economy i'm going to hand you over to the facility. is the human race to destroy it so. we'll move an english basic elements of our existence. we're using too much noise and moving. the mortar using life. and we may think oh you better suppliers who can last from the book to

the the. the the marine stuff. starts march 20th on the g.w. . sure that people do bolt on for g.w. on facebook and twitter to date and in touch follow. the going to. a boost for the global financial fight against the coronavirus u.s. federal reserve makes a surprise cut in interest rates equities around the world surged out wall street suddenly retreats again. health officials warn if the coronavirus is not contained they could be accused shortages of vital drugs global supply of india comes exports . as south africa falls back into recession what does it mean for the continent's most industrialized economy. i do. that's the business in

a surprise move the u.s. federal reserve policy setting committee has voted unanimously to cut its benchmark interest rate by half a percentage point the fed says it's reacting to support the economy as the coronavirus outbreak takes its toll stock markets one into positive territory but then u.s. equities suddenly were treated coronaviruses brought yet another 1st since the dark days of the financial crisis 2008 was the last time a fed chairman announced a cut to interest rates between regular policy meetings my colleagues and i took this action to help the u.s. economy keep strong in the face of new risks to the economic outlook namely the coronavirus which is now spread to more than 70 countries including the u.s. where citizens are stocking up on supplies that's resulted in the fed cutting rates by half a percentage point the biggest since you've guessed it the global financial crisis . we are beginning to see the effects on the tourism and travel industries and

we're hearing concerns from industries that rely on global supply chains the fed's rush to action follows some international pressure in germany there have been calls for the americans to take the lead. governments and central banks are maybe a little slow i believe in taking measures against the spread of the epidemic and then also in taking economic policy matters i think it's high time with the central banks in particular the fed to do take measures to calm the markets the fed isn't the central bank to respond to coronavirus though australia where some supermarkets are also running short of supplies was the quickest to react but such a decisive move by the us central bank is likely to mean that others will follow. ok let's talk about that with the correspondent in new york we were talking about coming markets but they don't look calm at all we have been told this is this move

by the fed was meant to be aggressive and is a surprise but look at stocks sell well it's a pretty wild reaction that we see here on wall street initially we did see the market gaining sharply but then what the federal reserve is also telling us is that there are obviously more concerned about the impact of the coronavirus than originally thought at some point blue chips traded to the downside by a good 600 points at the moment we're down a good 300 points so that's probably not what the federal reserve intended it was the surprise move and the virus keep spreading i mean the fed obviously wants to avoid a bear market how avoidable is that. well the fed. first of all tries to prevent the u.s. economy from a recession and if that's not going to work if we see the situation worsening it is not impossible that we might even see other rate cuts coming up the surprise here

on tuesday is not so much the magnitude of the cut and that the cut came it all but the timing because the next official official fed meeting is the new goats 2 weeks and it's not unlikely or well depending on the situation that cut rates might be even get cut further so they could be more cuts on the way i mean what else can central bankers do though to fight off a virus well what fed chairman jerome paul basically centers that the fed can only do so much or central banks or globally in general we had rather disappointing comments from the g. 7 a teleconference between finance ministers what basically needs to be done is some fiscal stimulus for that you would need a majority in congress but want to do with cutting interest rates is not so much upping the real economy but putting more money into the system but that does not make your people at the shop or go out more soft fiscal stimulus probably would

work better than a monetary stimulus. on the floor of the n.y.s.e. thank you. but more warnings today over shortages of medicines jus to supply bottlenecks created by the spread of the coronavirus india is the world's major supplier of generic drugs the cheaper ones just restricted the export of 26 pharmaceutical. and drugs which contain them it so says most of those ingredients from china the source of the outbreak. while india's health minister was sitting down to report 2 more cases of coronavirus 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 $26.00 ingredients including paracetamol in 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. if you don't know already her name is queen so know she's a secret agent from south africa and the hero of netflix 1st series made in africa several more are in the pipeline the us streaming giant having discovered the huge growth potential of the continent this could boost the african film scene as well and means jobs growth netflix has over 167000000 streaming subscribers

worldwide there are no published figures for africa but analysts reckon there are fewer than one and a half 1000000 potential subscribers in sub-saharan africa mostly in south africa netflix wants more than that though and its target is for a total of $5000000.00 african subscribers by 2025 that would quadruple the market in that region but let's pull in joy doreen beer out of nairobi correspondent joy how will netflix do this given that she reception and expensive transmission rights and the netflix needs to understand the african market for it to capitalize on that and to start we might have to localize payment options because what we seem to days that you can only pay for netflix using your visa card and we've the growing number of uses will slow

device uses on the african continent also their payment options will well and so it's a good partner as well we have the telecom industry on the african continent and help agree deal in localizing the employment options all still having to have as 5 no makes it cheaper for them to stream the entertainment clinton the looking out for the jury we've all heard of normally would be but what about the rest of the continent a movie making it could netflix open a new chapter in african filmmaking do you reckon. absolutely and we have seen south africa's well that has given quite some promise for a very long time but the major challenge for the african film industry has always been partnerships with international production houses to boost the quality of the content that is being churned out and so having netflix coming to the african continent just to see what kind of courted they can fish out is quite promising

about them being able to make quick ruble then the amount of money that they hope to buy the a 2025 that's a question for another day because as is we only have a handful of people who are able to access floorless internet bundles. or still a problem but what do you reckon about the african movie making industry then going global like people around the world really wanting to watch these films that are made in africa i think the african story has not been told it's quite well from the african perspective what we have seen for a long time is either hollywood coming into africa and telling what the african story easy or bollywood coming into africa and telling what the african story is but now with these partnerships with streaming services like netflix then the able

to buy the ships and have the opportunity as well to tell african stories to the global stage which is something that i think the world has not seen marshall and this would be a good opportunity for african produces and directors as well to showcase their work believe really briefly if you think. she had a good yes. all safe episodes well well we've got a fado. thank you joy writer in beer or they're in nairobi now fighting a job in south africa just got hotter the economy is in recession power outages have been plaguing businesses and that's a worry for the continent's most industrialized country. the outlook is getting darker for south africa months of rolling power cuts have left bakeries homes and factories without electricity blackouts topic growing list of problems for africa's

2nd largest economy the government announced a soaring deficit at a recent budget presentation unemployment is stuck at an 11 year high and now another recession the 1.4 percent contraction in g.d.p. and the 4th quarter was worse than expected it followed as 0.8 percent contraction and the 3rd quarter electricity cuts from utility company are to blame crumbling power stations and malfunctioning equipment have forced eskom to cut electricity around the country repeatedly nearly every industry is suffering among the worst hit are the agriculture transport and construction sectors all posted negative growth and the 4th quarter miners beverage makers and even wal-mart's local unit have announced plans to slash thousands of jobs jobs are already hard to find in south africa at the end of last year nearly 30 percent of people were out of work.

but just before we go authorities in ivory coast of birds free tongues of scales from endangered pangolins the scales were seized in raids on illegal traffic is in 2017 and 18 the building is a protected species and trafficking the animals can fetch a true year prison sentence but high prices paid by black marketeers in the animal is an attractive target for poachers. i was doing business with here.

some. old favorites. it's no wonder the spectacular. clams plenty of emotion. past the game day. 60 minutes on.

the massive drama competition rivalry marketing numbers atmosphere fight at times intuition love hate money millionaires fans crimes find us fans and found. on you tube joining us. this is news africa coming up on the program extremism talks in west reach new worrying new left troops in the region i'm the u.s. . terrorism drill bots living enough this time to stop the jihadists also coming out. when we were told to shoot we had to do it if you said no we would torture you or kill you. they're cool. south sudan's civil war thousands so-called soldiers the reports of how the u.s. .