you're watching the news up next the top business stories i'm told me a lot of going by them and as always you can keep up to date with all the latest news and information around the clock on our website it's called thanks for. the global corona crisis you can find more information online at the w dot com and on t w social media channels. in the. climate change. cruise for most of his.

most recent. 12 years today the father future of. deep local news dot com africa there goes to. give some clues to. the for. volatility retains its grip on global financial markets central banks keep the stimulus coming to fortify economies against the coronavirus and the panic among investors companies and consumers on the spreads. up in the air bosses in the travel industry. could jeopardize the future of aviation that is unless the taxpayer is willing to fork out a lot of money. and an early spring heralds harvest time in germany but closures prevent the seasonal migration of workers. from eastern europe leaving some farmers

in the lurch. i've been for a place to business experts say they've never seen anything like it for financial markets have gone crazy but this isn't a financial crisis a virus has spread around the globe countries are going into lockdown key economies coming to a standstill and volatility is setting in you can see the panic on oil markets the price plunging for $3.00 days then surging on thursday by more than 35 percent for u.s. crude some say production cuts ahead but they won't be enough to offset the decline in demand so many companies in so many different sectors a staring into the abyss we're talking about mass job cuts internationally help is on its way but will it really help. on both sides of the pond or central banks or pulling out the big guns $750000000000.00 euros in bond buying by the e.c.b.

the federal reserve promising $1.00 trillion dollars in cash loans from banks it even old that is not enough and after all monetary policy firepower alone can't breathe life back into lockdown economies they want to avoid a wave of insolvencies but would undermine the recovery but nobody prevent the freezing of the economy and the consequences that you certainly are in a global economic downturn which is at least as severe as the downturn in the financial crisis could government spending provide the answer european governments are spending multiple billions of euros to keep businesses afloat and employees paid the white house promising to spend $1.00 trillion dollars with even a direct cash transfer to citizens bank accounts under consideration and it seems markets are starting to get the message european indexes like germany's dax closed thursday trading with solid gains u.s. markets also ended the session slightly up. central banks and governments are

digging deep but the only way out for businesses is likely months away when restrictions to movement and economic activity ease after the pandemic has passed. let's go over to wall street by jose luis de how is standing by for us you've got a lonely job there looks like just about everyone has left tell us about this stimulus we're talking about trillions of it is it stimulating enough. it is that ben about i would add that when when you talk about on kaname of around $21.00 trillion dollars it gives you a little bit of perspective of how much more it can and may need to be done and probably get by no bill will be larger down the trillion dollars if we take in consideration that we don't exactly know when the situation will normalize how many companies and industries will need to be bail out and more importantly if consumer confidence that will ever be the same after the current health crisis if this does

drag on where we're talking about millions of jobs that are being cut at the moment what's what's going to happen with with trump's success that he's built his success on on the successes of his economy and those amazing job numbers that he's been a joy. most of those jobs will. seem to short to medium term some projections already talk about in about 80000000 jobs at risk a wall as we wait for day of full fiscal stimulus secretary of treasury stephen knew she'd already said that if the help it's not in acted as soon as possible unemployment rate could skyrocket up to 20 percent but materializing will be double digit unemployment rate we saw here in the united states during the financial crisis so is a must to help companies especially as small or medium sized ones had to deal with the current situation we always talk about they are poles the amazons the facebook's the big corporations but in the medium and small sized companies are

diggers u.s. employers and the real base of the world's largest economy it is a based on those all full employment or unemployment for costs what's going to happen to president trump's election bid definitely not good deals on that front reelection campaign was mostly based on the strong economic growth job creation as we mentioned before and record highs in the stock markets neither of these are actually in the picture anymore most banks are talking now about back when traction for the u.s. economy in the 2nd quarter that will be the sharpest in the post world war era and employment grade will definitely increase and even if it's too early to assess economic damage in any light at the end of the tunnel would definitely not get the u.s. economy back as it was early deals year how convinced are investors that president trump is acted quick enough to find these coronavirus. not very

convincing pam let's not forget that a long time ago the impact of the virus was. mischaracterized so their early response has been questioned a lot here in wall street for now several factors will be key to say praise especially increasing capacity for testing diagnosing treatment and prevention aside from. the stimulus. in the works. to back up your stuff and get isolation for you. thank you. and let's look at how the virus is making business headlines elsewhere in the world panic is gripping parts of london british supermarkets have announced measures to control the buyers in juice to brush that same shelves emptied some of reserve the 1st hour of trading for the only other stores limiting customers to just 3 items. francis is boosting mass production currently has 100000000 protective face must therefore produces many european countries have none germany's lifted recent export bans on medical

equipment including the european commission president on the line said the restrictions undermined the e.u. single market. egypt has suspended air travel until the end of the month but he tourist hot spots are in lockdown the pyramids of giza are now virtually deserted almost $140000.00 tourism jobs are at risk in egypt according to the international air transport association it says a $1000000000.00 in airline revenues that have been lost due to the shutdown authorities are closing shops and restaurants to contain the virus are now over $250.00 cases in egypt including several davids. well for the airline industry for this is worse than 911 even worse than the global financial crisis one german aviation boss says if the outbreak drags on and the state doesn't step in carriers will fail. only 5 per cent off times are scheduled flights are taking off

right now nearly all planes are grounded due to entry restrictions and a collapse in demand. so that it is good. if the current situation doesn't improve in the coming weeks which nobody expects will talk to the government to determine the basic flight services they think should be maintained from a business point of view flying doesn't make any sense right now. transit now what lufthansa c.e.o. says europe's largest airline is in good financial shape for now but he did not provide an outlook for 2020 he said nobody can predict the entire fall out of the pen demick according to the consultancy firm copy center for every nation most airlines in the world will be bankrupt by the end of may and this government's intervene international industry group says up to $200000000000.00 a needed to help cushion the blow off the outbreak. and it's going to be

a massive blow 25000000 people worldwide will lose their jobs because of the outbreak that's the warning from the international labor organization people working in the tourism and services sector will be among the most affected the u.n. agency says the number of working poor holding one or more jobs will also increase significantly it's call for urgent large scale measures to protect workers including paid leave and short time work. for documents showed germany expects a record of more than 2000000 people to make use of its short time scheme it was 1st widely used during the financial crisis companies can apply for state aid to cover the costs of keeping stuff on. getting workers in the 1st place is proving difficult for german farmers a warm spring has pushed up harvest time but border restrictions are stopping thousands of seasonal workers from coming from eastern europe. this rhineland farm has only half the normal amount of workers for

a spring harvest farmer simon klein says the rhubarb is already ripe and the asparagus will soon be ready as well. none of them are to the future looks quite dramatic because we're still only in the pre-season was starting to harvest the 1st crops but the main home just will start next week right now there's only 24 of us it will be difficult to do next week's work with that number of people. to gush of it's of actually. klein says he's going to need at least twice as many workers but there are started in close borders between germany and eastern europe are worrying many farmers they say it's difficult to find locals willing to do farm labor for the minimum wage of 9 euros per hour between really have their backs against the wall they've made considerable advanced payments they've maintained stocks for over a year they have seedlings on the farm that absolutely have to be planted. do you. think the minister of agriculture says people from other sectors who are out of

work due to coronavirus should consider working on farms. farmer klein says he's had luck finding help on facebook. group to shits i'm happy that many students have contacted me i want to get to work as soon as possible which taking the details and we'll definitely hire some of them for the harvest season. he's a lot of course with the youngest but despite that ray of hope it's unclear if the labor supply can possibly meet all the local demand this year. nice in business with it.

the for. the markets. were. made in germany. next. to

the point. clear positions international perspectives. more than a 100 countries around the world are in the grip of the coronavirus thousands have died and many more are in fact in this business is struggle to stay alive growing fears of a global recession saturday with the high hopes to find out until the point choice . point. 60 minutes on t w. how does a virus spread. why do we panic and when will all this and. just 3 of the topics covered in the weekly radio show is called spectrum if you would like

any information on the coronavirus or any other science topic you should really check out our podcast so you can get it wherever you get your podcasts you can also find us at w dot com ford slash science. is at the end of the global economic system as we know it's every day you profit of economic data come from out west fia's the coronavirus as both financial markets today.