buyers. this is the one business show you can't afford to miss. in washington coming up oil continues to dominate headlines on wall street earnings reports may be giving even more bad news the businesses are eager to reopen but will explain what that means for mass testing workers thank you not only for both swag and says it's ready to pay up for. we have a packed show for you today so let's go and dive right in. the

world health organization warns the worst of the krona virus pandemic is still ahead will global infections down at more than $2500000.00 with the death toll more than $175000.00 w h o spokeswoman for delicate said all available evidence suggests the virus has an animal origin and is not a manipulated or constructed virus in the lab or somewhere else this comes after president trumps recent comments on determining whether the virus originated from a lab in one china well meanwhile singapore announced its plan to extend the walk down by another 4 weeks the move comes after a sharp surge in coronavirus cases in just the latest days. we will implement these type of measures until the full force me. be able to completely lift the restrictions off of that and go back to business as usual. for extended.

4 weeks beyond me in other words until the 1st of june. then provided we have brought the community numbers down we can make for the adjustment and consider easing some measures well meanwhile iraqi officials scaled back the 24 hour curfew imposed to contain the spread of the chrono virus the new measures have a curfew from 7 pm until 6 am local time and they will remain in place until may 11th this comes days before the start of ramadan the holiest month in the islamic calendar traditionally involves a large gatherings will these large gatherings are still restricted but some shops will be allowed to reopen while some european countries are easing restrictions germany has warned of a possible 2nd wave of countries disease control center emphasized the seriousness of the situation. the less we prevent the virus from jumping from person to person

through our behavior the more the virus will fall to its actual reproduction rate the basic reproduction rate the rate that occurs when no measures are taken and that is somewhere between 2 and 3 in other words if we all now pretend that the problem has been overcome we will have another outbreak that is quite certain well brazil has the largest number of infections in south america they have more than 40000 the death toll more than 2500 brazilian president. continues to clash with state governors who have imposed these walked onto a wall. has come under criticism for joining these protesters and want social isolation policies to end this week the u.s. is still the country with the largest number of confirmed cases globally with more than 810000 factions on the death toll now more than $43000.00 governors of georgia south carolina and tennessee all said they were. well scaled back restrictions and

they plan to reopen businesses by this week this comes as governors and president trump continue to quarrel on how and when to reopen state economies want tuesday new york governor andrew cuomo is scheduled to meet with president trump to discuss more testing the tri-state that's whole top $20000.00 states are still struggling to get their hands on these tests meanwhile president trump announced his plans to temporarily suspend immigration into the united states as a country paddles the pandemic but for more numbers and information on the coronavirus be sure to check our portable dot t.v.'s and take a look at the section tracking coronavirus. the dow is plunging once again this tuesday as oil prices continue their an unprecedented fall may contract went negative yesterday for the 1st time in u.s. history but they managed to claw it their way back to positive will boom bust co-host christi i actually just plain kristie what's happening in the oil markets

this tuesday. well what's of concern to investors now on tuesday is that there's even more selling now occurring in the back months the june contract is now the most active trading down over 40 percent today meanwhile brant crude also traded down about 23 percent below its support level of $20.00 per barrel so as storage continues to fill up prices could try at extremely depressed levels for the foreseeable future the main u.s. storage hub in cushing oklahoma where the beach i expect to be full within weeks so even as opec oil production cuts kick in and may those 10 percent cut will barely make a dent as global demand has dropped more than 30 percent meanwhile u.s. shell produces a fast approaching the point where they'll be forced to shut down operations now president from called on the government to make fun of ailill to u.s. oil and gas industry after promising in a tweet that he quote would never let the great us oil and gas industry down so currently is unclear exactly what will happen but it's actually he is allowing these donkey firms to live longer and produce more oil basically adding to the

worsening situation so as the old saying goes the old the only cure for low oil prices are even lower oil prices so in that environment the u.s. with its high cost producers is just not competitive well kristie oil prices went negative what does that mean for this for this going forward. so basically as futures contracts expire they tend to converge with the realities of the physical market and as he says or space is running out the physical market is so overwhelmed at this point so as many of the paper traders are unable to actually accept physical delivery traders ended up paying someone to take oil off their hands so while the may contract was an anomaly who's to say that the june contract won't be equally as catastrophic it is currently down over 40 percent today and there's still the issue of the others on market surplus and then there's the issue of the negative impact of investors rolling over their june to july contract and we saw all of that does occur yesterday and we also just saw the u.s.o. who filed to restructure today that they're hauling 40 percent of its 4. well in

june contracts 55 percent in july contract and 5 percent in august so that any can indication at all it shows that the downward pressure in the june contract will continue to accelerate well even then we're going to see a big change in the coming months so we we have a few big earnings reports that were out today some of the big ones i.b.m. and coca-cola how did they do. so i mean reporter our names and it seem like tech is not immune to a slowdown that has spread to basically every single corner of the economy so while top q one earnings it issued a warning for the rest of 2020 as clients and they had paused revenue decreased 3.4 percent year over year as software sales slow and then as a result the entire tech software in particular they traded down more than 4 percent was her x. sales force more to networking and more software leading the decline coca-cola as a consumer staple also wasn't safe they also announced a a while of course did earnings beats it with drew as a note for past citing of the closure of movie theaters restaurants is severely

hurting business with bowling to have plunged over 25 percent so while it got a short term from consumers hoarding stable than beverages from grocery stores the impact of these closures is going to be material and 2nd quarter earnings the company also reiterated that it's also cutting costs where a ripoff will make a slashing marketing dollars and as coca-cola being one of the biggest ad buyers in the world that not spending on marketing will have been here and locations for all of those downstream shares are now trading down over 2 percent today despite the well for more on this we want to bring this up of a trading todd horowitz thank you for being with us today i want to start with this almost breaking news a $450000000000.00 stimulus bill that congress has just reached a deal it looks like it's about to go to the senate now if passed even if passed if economies remain closed still may not be enough when you see another possible stimulus bill coming in and how much. you have to do and things drive me back it

was i hope they stop with the stimulus bills and start to open the economy the only cure for what's going on is actually people going back to work is stimulating the velocity of money if money is just going to be given out and people are going to put it in their pocket or buy groceries or that we're not going to see any growth we're not going to senior improvement in this vicious cycle that we're in that has been created by a lot of the. ridiculous stimulus is going to continue we need to get the economy back open we need to get people going back out again again i understand the social distancing and all those things but you cannot cure a pandemic by destroying the economy and killing the wealth of everybody so that the money they need to get the economy open let it grow on that's what a lot of states are starting to do a lot of states in the south including georgia but thought oil is really what's driving the market right now right i mean this morning the u.s. so e.t.f. now they suspended the creation of these new baskets there's a lack of demand it's

a serious issue this is one of the biggest retail oil u.t.s. and they're basically transforming us so into a closed end fund so so why did they do that what's happening there and are they even are they in danger of blowing up. well you know a cell will blow up they say the the measure of the e.t.f. itself is not designed for physical delivery is not designed to handle what's called the backwardation tango patterns that appear and if you look at oil you can see that general right now they closed about 1350 whereas july oil is about 18 and if you go farther out we get into the twenty's thirty's and even the forty's in some months now again you are seeing is the we're sure the hope that we're going to see some growth but you and mentioned earlier that could you see june go negative as well listen if we don't get some growth and start to take some member here and there you could very well in 30 days from now see june go negative when we get close to delivery because again this is what happens when people have to get out yesterday's disaster was more of a forced liquidation through

a lot of places and i assure you we'll hear in the next couple of days of a couple of firms that are going bankrupt because of this force liquidation they were forced just say which drove the price to minus $40.00 a barrel minus $40.00 that's a new record a record low for the u.s. president trump says he want to allow that to happen again basically he wants to salvage this kristie let me turn to you a ton of traders that god. burned in this oil trade do we know who those those those people are those those the got burned. well as todd just point out the u.s. really wasn't meant for physical delivery and so they're for the u.s. so it's primarily dominated by retail investors it's basically an e.t.f. which is a really popular without me telling westerners can kind of gain exposure to oil so we'll or the traders they typically never key positions into exploration and that's when liquidity really drives up retail traders on the other hand how are all the side of the u.s. in recent weeks given the very depressed prices all going to make a quick pop and a quick scout you know. surge and that represent about 30 percent of the don't need

to my contracts outstanding and they were the ones stuck holding the hot potato what all the music stopped playing out today the retail traders were still long the contracts into this week as todd said they were forced into liquidation because they don't systematically roll their products they don't roll over to the next month and therefore they were basically forced to sell and to close and still basically only that it's up for a huge loss they actually went negative because they held onto a contract that they did not understand not realizing that it could go negative definitely not realizing it could go negative but it certainly did but kristie i want to get one last question then in the midst of a bank has now launched its pilot program for digital r. and b. across 4 cities that's been working on this for years china has been against big point as well though banning it several years ago what's the latest here. so all they're currently conducting a pilot program in 4 cities send. trying to and shell and now this isn't really

a real crypto currency like what we've been talking about it's basically a central bank back digital currency of the b.b.c. and while the application is quite impressive it does allow for faster processing rates and all that it does go fundamentally against everything that the currently stands for so with all transactions will be monitored and stored and if you know sense we have instant access to people's wallets even in the rural areas so china hasn't officially announced a timeline for launching a digital r. and b. but secular action is building are ready as you can see acidic bank analysts noted that the total size of trying to do a current big could reach $140000000000.00 over the coming years and that's going to be going to about. market definitely interesting how this will play out we have a 45 2nd answer todd i want to get your take are we expecting to see and retest the lows that we saw in march in the market as we keep getting hit with the negative numbers. i think of the negative or we may not negative and i believe that you will do well take out the lows and we should at the end of day go much lower before we

start to really go higher and have a chance to make new highs well it's definitely been a roller coaster hopefully it will become somewhat study in the coming weeks if not months kristie i thought horwitz of the trading thank you so much for your time thank you and your. time now for a quick break but hang here because when we return companies are looking to get back to business but it may take a lot of testing and a workers that welling up to actually take them before it can actually happen well as we go to break here the numbers out.

of. the world is driven by dreamers shaped by the one percent of those. thinks. we dear and.

join me every thursday. and i'll be speaking to get a feel of the world. for those of those i'm sure i'll see you there. so i mean this is to plan the change on the. up at your. local just to me. it's all. from your bullet show we're still what. you produce not. so we. want to show you.

as a number of states are beginning to release their stay at home orders more and more employees that will be allowed to head back to work well obviously the coronavirus will remain a serious concern for employers so what should be done to detect it will can employers mandate virus testing for employees or should they well according to tech crunch the notion of testing employees does not or poise who don't exhibit symptoms has been a less pressing question however due in no small part to a limited availability of testing kits but as the w.h.o. c.d.c. and other organizations have made abundantly. clear it's entirely possible to cure the virus while remaining asymptomatic in fact that's made the novel coronavirus

all the more scary well joining us now to discuss is going bust. once one but obviously employers must abide by either o.c. rules as well as hipaa laws but the most basic question here is can an employer require employees to be tested for the coronavirus. well that's that's kind of the question right now is whether or not you can or cannot the 88 the american with disabilities act. centrally lays out some of the things you can and cannot do and so there are some rules about how employers can conduct themselves for instance in the case of the coronavirus an employer could ask an employee if they have been exhibiting symptoms of the coronavirus something like fever or chills body aches those kinds of things you could ask those questions is nothing wrong with that in theory you could also test employees though there's a big question about whether or not you could mandate testing but here's what's important is that according to 88 guidelines right now you cannot legally fire someone who has the corona virus so if someone does come down with the virus they

cannot be terminated for it so the question would become if you you know someone refuses the test can you then fire them for refusing the test if you can't fire them for having the virus that's where it gets a little bit tricky we know amazon jeff bezos told shareholders last year they that the company was starting to gather the equipment that it needs to build a coven 1000 thing labs for its employees and the company has deployed a redeployed a team of scientists procurement specialists and some software engineers to work on a lab for testing these at frontline workers could we see other employers follow through and really create their own testing facilities i don't think it's very likely that most employers will do this 1st of all the cost of this would be enormous of course amazon just you know has so much money doesn't know what to do with it so they can pretty much do whatever they want and jeff bezos is just a strange man who likes to do these kinds of things right he loves the idea i'm going to test every employee and we're going to monitor our for your standing from

someone else what's more likely to happen in the short term is that there might be in office buildings you know kind of a temporary testing site set up was you know this one article that essentially said in the future we could have employees required to come in to work earlier than usual so they can go through a testing facility be tested in like the lobby of their office building and then within a few minutes know whether they can go upstairs and go to work. there is so much for t associated with that though after a short amount of time i mean how how long can you carry that on it might happen for a short time but in the long run i don't see employees or employers either paying for or wanting to go through this for months or even years on it it's a lot of time we already see some business and some offices doing at temperature checks but that's that's a little bit different that's obviously they have the monitor to be able to do so something like doing the actual code in 1000 testing well and where you have a shortage of tests right now so how can this event happen that's right and one of the things on that you know remember that a lot of people can be asymptomatic with coronavirus so you can't just check for

fevers you would have to do a if you're going to do this and make it fair you have to test every one of the cost of that for companies i mean every company and every business in america get a pay for test test everyone every day it's not even practice like you said it amazon has the money to do it that that that's the reason they're doing it let me get one more question and cheetah is expected to issue the world's 1st immunity passports this is to people who have recovered from the krona virus are going to make them exempt from quarantines and some other restrictions are we going to see other countries follow suit. does they say that they're going to issue these passports essentially saying you have contracted coronavirus you're better now remember that dr anthony felt she who from the end i choose a centrally kind of running point on this drug administration eluded to immunity cards that people could be carrying in the future which again is kind of a crazy idea because number one it requires that if you get corona virus that you can get it again we don't even know that that's the case and number 2 what i think they're actually alluding to is people who have been vaccinated but again just

because you get a vaccine doesn't mean you can't and it can track something because i'm used to it it isn't being our it's absolutely there's already talk that corona virus is mutating so i think the whole concept is is nutty to begin with certainly don't want to see that here in the u.s. and with other coronaviruses typically what you do as you develop these antibodies and they last anywhere from 2 to 6 months like you said does that mean that you can't get it again we don't know co-host ben swan thank you for that sort of things . chairman auto maker of folks wagon is settling hundreds of thousands of lawsuits brought by car owner for rigging diesel emission tests the company must now pay millions more over the cheating scandal which broke 5 years ago and continues to impact other carmakers around the world here now with more is legal journalist molly barrow there with america's lawyer who has been following the story molly thank you for being with us today how many claims were brought in this class action lawsuit. has there will in this particular settlement it's about 2 160000

claims in the settlement covers 200000 of them about 3 quarters other cases are still under review those owners could get payouts of somewhere around between $1500.00 a car or almost $7000.00 a car depending on the age and model of the vehicle the company has paid almost $700000000.00 sarat to settle this particular lawsuit and since this scandal broke it's cost the company 30000000000 to address it also with fines and refitting the software there are another 8000000 vehicles involved in europe. erminie assigning it to the 10s of thousands of clients as well on a no win no fee claim basis so this isn't going away anytime soon in the laws are a little bit different in germany than they are here in the united states but it is a difficult time because of the coronavirus where people are wanting to just take the settlement because they need the money but how did this cheating scandal work. oh basically carmakers worked with a software company to manipulate the data in the vehicle so that it would look like the diesel missions were at or below acceptable level when in fact were they not

only over they were way over like 40 times over in some cases what they should have been and that rig software was discovered during routine investigations and exposed even the company that helped create the software was fined like a 100000000 dollars i believe in that particular scandal so it's an ongoing issue and like you said lots of folks need the cash they may be willing to settle quicker than they might have otherwise exactly even though apparently google and facebook are now placing ads in germany for this no win no fee for an order for them to to help claimants for now but are there any other carmakers now facing any similar situations. yes the more i dug into this and spoke with one of the american attorneys that's handling this investigation there's off firms all over the. now part of of a coalition they formed called the diesel emissions justice foundation in the netherlands and looking into it talking today this is pretty big it impacts a lot of manufacturers they're representing car owners who had the v.w.

they're also representing car owners who used other vehicles as well like big manufacturers mercedes b.m.w. fia chrysler they're all involved in this a lot of them use the same exact rig cheating software and they're seeking compensation on behalf of those car owners there are other companies that are being investigated but not named as well and a lot of these companies are in different stages of settling in different countries v.w. ffion have settled in the u.s. it's ongoing for mercedes and b.m.w. we talked about germany they are settling there on an ad hoc basis and they're working out a settlement now in australia so there's a lot going on with this case well auto sector is already hurting due to the coronavirus so this even having a greater impact on them molly barrows contributor with america's lawyer thank you for your time today. many types of life celebrations have been canceled due to the krona virus this includes weddings will of year one of the couples whose wedding was canceled and you happen to live in the new york state well there's good news

over the weekend new york governor andrew cuomo signed an executive order allowing new yorkers to obtain a marriage license remotely or most new york marriage bureaus have been closed for weeks and are not able to issue licenses during a briefing governor cuomo said video marriages ceremonies there's now no excuse when the question comes up for marriage no excuse you can do it by assume yes or no while brides and grooms have chosen to keep their wedding date new yorkers are able to process the necessary paperwork be a video. county ohio in the state of colorado have also taken similar measures so remember there's no excuse when it comes to saying i do well that's it for this time you can catch boom bust on demand on the brand new portable t.v. available on smartphones through google play on the apple app store by searching portable t.v. stream us to your t.v. by downloading the portable t.v.'s on apple t.v. and online at www dot tv and as always check this out on youtube dot com slash boom bust r t c

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the long term effects might not just be absence of benefit but actually that that it might be causing long term. hello there i'm military and you're watching in question broadcasting from r.t. american national headquarters in washington d.c. welcome to our viewers. from across the nation and all around the world here are tonight's top stories but 1st while prices spiral below 0 as the global demand collapses so what does the future hold for oil and how does this impact global markets a full report coming up then as world economies grapple with the coronavirus pandemic china is rolling out a trial program for digital currency we'll tell you what that is plus online scams are plaguing the internet especially with so many of us dial down right now during this pandemic our very own rick sanchez will tell us what to look out for all right it's.