yes you know i mean. what in. the world health organization is not calling it a pandemic and the novel coronavirus again has markets in. stocks on wall street fell sharply as fears continue to mount over the economic fallout of the covert not also coming boeing shares take another drastic tumble as the company tries to cope with the double whammy of its grounded $737.00 max and the coronavirus and italy is famous for nothing as much as its fashion we take a look at the locks down countries fashion industry and the corrupt.

program the u.s. stock market is on the brink of ending one of its greatest ever run with the corona virus outbreak not officially labeled a pandemic investors are asking how bad the fallout is going to be after all the world health organization has also cited quote alarming levels of inaction by governments on the virus on wall street shares in the dow jones industrial average dropped almost 6 percent for the 1st time since the 2009 financial crisis the dow has now entered into a bear market the find as a 20 percent drop from recent highs. for more on wednesday sell off here is our correspondent hossein was down. here on wall street it was mainly calls by 2 factors one that we still like any concrete details on dot pisco stimulus package president trump said that with the markets already closed

a payroll tax cut will be good for people still lacking any concrete details the 2nd is the use of the war pandemic these surely did not bring any confidence in a market at a time daddy seems the 11 year old bullish market is coming to an end bull markets don't die of old age but the koran a virus appears to be doing a creek also investors who want to spar and see and headlines about containing contagion that will happen when people get done and getting the situation under control once this happens and we get a handle on how much damage has the coroner virus done it to the economy it's that when the markets will maybe it start to recover. louise data reporting from wall street there is another issue weighing heavily on the down wednesday where concerns over playmaker boeing in a memo reportedly leaked to the press c.e.o. apparently said that the company will freeze new hiring and over time as boeing

struggles to deal with a 12 punch from the corona crisis and the grounding of its 737 max line so far boeing has been hit with 43 cans of the orders for the ground to jet boeing shares lost 18 percent after news broke that the company was forced to take out a $40000000000.00 loan to deal with ballooning costs. italy is the european nation hardest hit by the coronavirus with more than 820 deaths reported so far after having put 60000000 people are centrally on lockdown the country's leadership has now ordered the closure of all shops bars and restaurants except pharmacies and food stores in addition the government in rome has pledged. a 25000000000 euro aid package to help tackle the outbreak and money will go towards both healthcare and businesses the country's famous famous fashion industry is one sector that is

especially vulnerable. the fashion capital of milan is usually a life bustling city now it's like a ghost town. remained the same article and it's good we have fewer people walking around for now but it does put major constraints on businesses shops are open but there are no customers and staff have to be paid anyway. your means on i have my business have and i don't have any kind of reserves so i'm really feeling the economic impact. could impact the economy. with an annual turnover of 90000000000 euros fashion is one of italy's most important industries and even more important than the shops here in the luxury bt overseas the asian markets has almost completely vanished in light of the pandemic the italian government has announced a national aid package to help offset the virus's effect. we've allocated

special resources to the sum of 25000000000 euros aware of the difficulties that the country faces during this emergency situation the only difficult place is stuff . italy's fashion industry employs more than 400000 people. the country makes over a 3rd of its luxury goods sales in china but right now there's very little demand for high end fashion anywhere. and here are some of the other measures countries are taking to limit the impact of the virus on their comments the international monetary fund says spain should be allowed to hold off on structural deficit costs here as adopts one of measures to support the economy during the epidemic but red has promised to do whatever is necessary to overcome the crisis it is expected to unveil a package on thursday guaranteeing medicines and providing loans to businesses google has advised all of its 100000 employees in north america to work from home

because of the growth of hours staff has been asked to stay at home until april 10th apple facebook amazon and twitter have already asked employees to work from home to limit the spread of the infection. german chancellor going to michael says her government will do all it takes to ease the fallout from the outbreak that could include easing strict rules and increasing public spending as medical science forecasts that 2 thirds of germany could contract the virus. now earlier my colleague at l. 1st talked to top german economist peter bofinger about the business impact of the virus in germany government responses and our chances of avoiding a global recession mr bush what's your impression of how a german business is currently dealing with the current crisis well we have no data so far for march we have no data for february the only thing we know is that the

labor market so far has not been too much affected which is good news but it's obvious that it will have severe repercussions on production on services i think there's no doubt that we will face kind of recession in the 1st quarter and also in the 2nd quarter is the german government doing enough to protect the german economy german companies against this crisis john government is doing important things especially as far as short time burke is concerned i think they have no active aided measures that they're ready helpful in the trade financial crisis to prevent the crisis to spread to the labor market but we thing more has to be done and i think what's measures is really know the liquidity and the solvency of the enterprise sector and for this purpose we have suggested that all takes payments that are due in the next few months will be suspended and only have to be paid then once the price is over and in addition we have asked for

a program where companies can compensate the losses this year profits last year so that they get baked texas so no stimulus. well that is a stimulus i would say if companies have really the opportunity to to compensate the loss if the government is so to say participating in the losses that are made due to the crises i think as far stimulus is concerned the short term the problem is we cannot social consumption as. we call it because the concerns about health north and now the priority. does this crisis have the potential to put push the world economy into a recession well we know from the o.e.c.d. that in less optimistic scenario global growth will go down from about 3 percent to 1.5 percent so this is a very strong deceleration and i think countries like italy the school definitively

facing a recession i think it all now depends on the decided miss preparedness of the governments to do what ever is it takes to say this to prevent the crisis from spreading from those sectors who are mainly affected to the rest of the economy so to prevent that the crisis becomes really systemic it approvingly thank you very much. it is to kenya now and the country so far has been spared the coronavirus but the economy is suffering because of its extensive trade relationship with china with travel bans in place flights cancelled and restrictions on certain imports businesses are starting to have trouble keeping shelves stocked economists warn prices are likely to spike. in robey these store shelves are well stocked for now but many shop owners warn their supplies of clothing electronics and other goods made in china could run out by

months and shipping is tapering off in kenya's major port of mombasa due to restrictions on trade with regions affected by coronavirus like china. and observers say that could cause prices to spike throughout the country. china is also responsible for hundreds of millions of euros in direct investment each year including in critical infrastructure projects investment which could be in danger if the worldwide crisis continues each one cent drop in china's domestic investment equals 0.6 percent drop in africa so at a high level i'm really really worried that this feedback phenomenon is now going into reverse this is a unprecedented black swan event and i think we are we are going to really stop at the economic fallout from what is happening in china. with supply chains are

structured around the world the kenyan government has faced accusations it's failing to prepare for the worst. and that could mean shortfalls of critical goods like pharmaceuticals as the covert 1900 continues to spread. and the rest of the program as usual you can find more on our website that's t w dot com slash business or simply follow us on facebook or twitter i'm chris colfer roll in for me and the entire team thanks for watching i'm ever so often successful.

cutting through the noise. floor i come from people are known for being tough but fair new york can be loud the people tell it like it it they call it the concrete jungle the melting pot the city that never sleeps it's this energy that makes it feel like oh but amid the hustle it's important to listen and pay attention because it's not just the loudest voices who needs to be heard we all have a story that's how i see it is my job as

a journalist to go beyond the obvious now i'm basing your odds my work takes me around the world it seems for me the same to tell the important stories behind the headlines what is the heart of the story why. it is a matter who live in calcutta to stay focused if you want. to cut through the noise to get to the truth of the mind of the sarah kelly and i work up to the. stories that people hold over the information they provide. the fenians they want to express d.w. on facebook and twitter up to date and in touch follow us. good use crime fighters are back again africa's most successful radio drama series continues this season the stories focus on hate speech prevention and sustainable

chocolate production. all of a sow's are available online and of course you can share and discuss on africa's facebook page and other social media platforms. crime fighters to mindanao. welcome to news from the world of arts and culture here's what's coming up in the next quarter of an hour. and andy warhol retrospective in london shows how the most important artist of the modern age was so ahead of his time. and in our continuing series meet the germans this week rachel welland light was on the nuances of german fashion.

but 1st 2 weeks ago a new york court found hollywood mogul harvey weinstein guilty of 2 counts of sexual assault now he's been sentenced to 23 years in jail and the main accusers and prosecution witnesses were in court on wednesday to hear the verdict afterwards weinstein was taken directly back to a prison hospital to continue his sentence. a look back now at the key events surrounding this landmark case. february 24th 2020 harvey weinstein left the courthouse in an ambulance after being found guilty of sexual assault and rape. his trial had begun in january public interest in the proceedings was immense it was a watershed moment.