this is boom bust the one business show you can't afford to miss i'm french born in washington coming up the u.k. has title lockdown due to a new fast spreading strain of the coronavirus to bring you up to speed on the global spread of the virus and travel restrictions across europe and amid struggles with controlling the latest outbreak a key deadline has passed for the e.u. and great britain to strike a pose trade deal going to bring you the latest and later u.s. lawmakers have come to terms on another coven 1000 relief package will go over the details and see how markets are reacting with a packed show today let's dive right in. and we lead the program with the latest restrictions on travel in europe as countries across the continent have banned travel from the u.k. in an attempt to stop

a highly infectious new strain of the corona virus which is quickly spreading in london and the southeast portion of the nation the move comes after british prime minister boris johnson on saturday laid out a new set of lock downs in the areas most affected by the new variant of the virus . given the early evidence we have on this new variant of the virus the potential risk it poses it is with a very heavy heart i must tell you we cannot continue with christmas as planned we will introduce new restrictions in the most affected areas specifically those parts of london the southeast and the east of england which are currently in tier 3 these areas will enter a new tier for which we broadly equivalent to the national restrictions which were in place in england in november that means residents in those areas miss stay at home apart from limited exemptions set out in law non-essential retail indoor gyms

and leisure facilities and personal care services was close. people whose work from home if they can but may travel to work if this is not possible for example in the construction and manufacturing sectors people who should know want and to leave areas in tearful residence must not stay overnight away from individuals can only meet one person from another household not to public. and during the same briefing the prime minister announced that as of saturday 350000 britons had received their 1st dose of a covert 19 back scene and for more on this new strain of the krona virus hitting the u.k. on a global look at the trends and spread of the virus let's go ahead and bring in our chief correspondent saya tablature so let's start with numbers globally where we monday so right now it's looking like a very tragic finish of the year right now global cases route $77000000.00 and growing global deaths over $1700000.00 and the u.s.

continues to lead the world encases plus deaths and you know we've heard time and time again from health experts to expect cases to go up as controlling the virus during the colder months is simply more difficult now those prediction of course have proved to be correct all in all it's been a very tragic a few weeks and on sunday almost 180000 cases are reported and right now the south is on a very dangerous path with states like georgia arkansas south carolina all setting weekly records while tennessee is reporting the highest base rate per capita in the country now while the national death toll has we surpassed $300000.00 there's no indication right now that the pace is actually going to slow anytime soon on sunday almost 1500 cases deaths are should say were recorded with states like pennsylvania california illinois and texas all reporting more than 1000 deaths

each in the past. sweet now let's take a look at this prediction chart where deaths in new us are almost certain to even go higher because if you track the number of new cases you can then i currently predict actually the number of cold related deaths that happened about 3 weeks later since in every 100 new cases in the u.s. it's led to an average of 1.6 steps so expect that to even reach more than 3000 a day which would be by far the highest level yet and now here's a share of the population that has gotten a vaccine so far the darker you see the states the more they've gone the vaccination so far the maximum has been a point 2 percent so. and so while another so i should say about 150000 people overall in the u.s.

have done the pfizer vaccine while another 2900000 people are set to receive the 1st dose now less than one percent of the country's population and not even enough for a health care workers brand so it's going to be months before enough people have been vaccinated to even make a dent in the u.s. outbreak let alone wind down the pandemic brant we open the show talking about this new strain of the virus found in the u.k. what do we know about this so take a look at here so while cases in you know in the u.k. they have been going up there only other place that the case has a higher have been the u.s. but still today should have been a day or breakthrough the usa i mean the e.u. excuse me authorized pfizer axion which meant millions of doses would be transferred to all $27.00 e.u. member states instead of countries across europe they're now scrambling on how to deal with the new strain of the corner virus which is sweeping across southern

england and and how to prevent it from spreading elsewhere so this is what we know about. this new strain so far it's about 70 percent more contagious than the previous version which means all of this is model of social distancing of about 6 feet most likely it's going to be in effect there for this new stronger strain which means faster transmission would be more cases which would lead to more hospitalizations and all timidly more that now flights from the u.k. are being suspended to more than 40 countries across the world including much of europe india and hong kong plus all neighboring countries are closing their borders so for the u.k. it's a double blow right now leaving them pretentiously isolated from their neighbors you know at a time when their departure from the e.u. has already caused a souring relations with their neighbors plus send financial markets binay as stocks in europe their sharply lower along with energy prices and the british pound

brant respondent cited temperature thank you for keeping us up to date. and amid these latest concerns regarding the outbreak of cope 19 in the united kingdom the nation is still dealing with contentious to go she issues regarding a post breck's a trade deal with less than 2 weeks left in the transition period the e.u. and great britain are still stuck on fishing rights in british waters and the so-called level playing field rules to provide fair competition on both sides now to go she actions were expected to resume monday despite a sunday deadline set by the european parliament the chairman of the european parliament u.k. coordination group said monday an extension in the transition period or provisional application of a framework deal are possibilities. under a normal procedure this is no longer possible we showed our most flexibility but

sunday evening most of the last possible date but still there are other options which have to be looked at including on the one hand the possibility of extending the transition period but this would require a political will on both sides or the other option is provisional application but all these questions will only be discussed once we know if there is actually a deal or not. for more on this let's go ahead and bring in hillary ford which board member with the british american business association hillary always a pleasure to have you on. now we know you're coming from a pro u.k. perspective what it comes to practice it but we just heard david mcallister say that the e.u. has shown the most flexibility and quote in negotiations is that a fair assessment now i think actually i one of the invalides i've loved design i heard somebody say recently what if the u.k. was to insist on having access to the french vineyards i think that would put it

really in context i do think if you look at anything in life i mean even if it's a murder case you always look for the motive what's the motive the u.k. has no motivation whatsoever to want to use the lay tactics in fact the u.k. has done everything in their own interest to try an expedited these negotiations whereas look at the e.u. what is in the e.u. is interest we've talked about before they do not want other nations leaving they do not want to next it with the docs they do not want to work that with the swedish that's why they're making it actually as difficult as possible because they don't want to encourage other nations by making this a smooth path hillary prime minister boris johnson actually came out monday and said that if there is no deal if it were to revert to deputy or rules that would basically be more than satisfactory for the u.k. and it appears that the u.k. is set on stick to the deadline at the end of the year as you just budget but given this latest scituate. with the outbreak in the u.k. and there's new restrictions to deal with should the british part of this to go she

should start to look at maybe extending this transition period or do you think that's just out of the cards completely will bring you think about it i mean it's been extended and extended and extended the vote actually took place in june of 2016 so every time it's extended what does it achieve absolutely nothing nothing ever seems to change i think what the british position has always been no deal is better than a bad deal not that anybody was advocating a no deal from the out get the get go and the outset so the double duty oh rules of course will impose tariffs on and quotas on all u.k. goods but likewise the u.k. can impose impose tariffs too so i just think that the w t o just like boris johnson said the w t o rules aren't as dire and as gloom and doom as drastic as was ever talked about also just think about some of the things brand like it was purported that hundreds of thousands of jobs would leave the u.k. capital in the financial sector and go to paris or to boleyn while they have an only 5000 to date approximately have so i think that once a settles down abetted

a no deal is better than a bad deal why settle for a bad deal when the w t o establishes tariffs which can then be used also against the e.u. now i want to go into these latest restrictions that we talked about here at the beginning of the show we're seeing travel bans with the u.k. from other european nations due to this new strain of the virus and france has actually got as far as issuing a temporary freight band u.k. prime minister boris johnson actually spoke about that monday. it's fortune for us to stress these delays which are only occurring at do only affect human freight and that is only 20 percent of the total arriving or departing arriving from or departing to the european continent which means the vast majority of food medicines and other supplies are coming and going. it seems like that is actually kind of downplaying the situation is this concerning or

see right on track there well actually what i've heard is at least the reports come out to say that maybe lettuce and such fresh vegetables will be available christmas well actually i can actually say that not a lot of british people really have left as a christmas so i don't think that that's going to be so dire i do think that if you get 93 percent of all the products that are bought from the e.u. can be bought from elsewhere and what's happened george since 2016 is there have been over 57 negotiated treaties by the secretary of trade liz truss with other nations so all those goods of flowing freely you did mention the travel ban the restrictions yes now 40 countries are basically isolated great britain including canada israel and then just recently i think it was actually even today australia because a couple went to south wales so i would say that yes it has been the u.k. has been isolated due to the travel ban but there won't be a doctor shortage of products because they've come from those other nations due to the trade deals really what do you make of these latest lock downs with the u.k.

heading into the week of christmas are these restrictions going to take a toll on the economy the same way we saw earlier lock downs or because there might be shorter are we kind of in the clear there well no i think you're totally right of course it's going to die i mean the timing is actually gone because the time is a few days before christmas unlike any nation this is the intent shopping period the only thing i would say is you know christmas day which is friday the 25th and the few days after that there really wasn't a great deal of shopping going on but these few days now it's actually brutal for your small and independent retailers and it's purported that something like you know 80 percent of most retailers. bottom line is contributed to during these last 2 weeks before christmas so that is going to take a ghastly told yes of course when we look at those weeks into the probably the 1st week of the new year as well definitely going to be concerning killer for which board member with the british american business association thank you so much for joining us. time now for a quick break but paying here because when we return the u.s.

lawmakers have come to terms on another covert 19 relief package to really go over the details and see how markets are reacting as we go to break here the numbers of the close. we started talking about big point in dollars then back in 2011 we've been pushing and telling people about a 10 dollars 100 dollars 1000 dollars 10000 dollars at stella buy at these new all time high prices on the new york times washington d.c. c.n.n. we're all pushing their. conspiracy theories and dissuading quotes from watching our show as a result many people around the world mexico latin america asia everywhere got in from 100 countries that are to broadcast it and they have made millions we've made

over $100000.00 millionaires have declined but not so much in the u.s. because the u.s. is blinkered by its love of keynesian economics it's a lot of the said it's dead. the industry faces a mystery and millions of you know the. t.v. conditions he's all about making money making profits some of the corporations international markets import export do you imagine the number of chronic diseases in every community. is new due to the new viruses are all new microbes is not true so it is due to. the sick either woman to use it with this sort of must really be a security it could only come in to see the move to the. that was declared in the sky if the so food industry is successful it will create more jobs it will create

more value added it will create more growth so i don't see why we shouldn't also fight for the interest something into street products that that we have regulation we want regulation has an interest in if we don't behave zinnias finnell too must find. welcome back after months of negotiations it appears congressional leaders in the united states have finally reached a deal on a $900000000000.00 koeppen $1000.00 relief package now this bill which is expected to face a vote before the end of monday evening will be the 2nd largest federal stimulus

package in u.s. history after that 2 trillion dollar cares act passed in march so what does this bill include well $600.00 in direct payments to most adults and $600.00 per child funding for vaccine distribution $300.00 in federal weekly unemployment benefits for 11 weeks more paycheck protection program small business loans and funding for hospitals schools and colleges it would also extend a victim protection to january 31st and provide $25000000000.00 in rental assistance the package does not include state and local government funding but more aid could come once president elect joe biden takes office for more on this and what's moving markets money let's go ahead and bring in blue bus co-host christiane and c.e.o. of optimists l.l.c. thank you so much for both being here today christiane i want to start with you know congress finally agreed to that $900000000000.00 covert stimulus deal after months and months of delayed negotiations now we just went over what was in the bill is this enough to help these millions of americans facing basic poverty and

business closures. no i think this is a temporary ban they just a tide us into next year essentially so this is. really this is not enough for many americans potentially facing eviction next year is our unemployment and this wave of small business closures that's not going to stand so this is quite a lot of measures and provisions jammed all into one proposal but the problem is that the total dollar amount isn't enough they had to split the pies so many ways that in the end i'm not sure how big of an impact this is actually going to make so for example imagine airlines airlines are losing about as much as $180000000.00 in cash daily with the passenger volume down 65 percent and cancellations rising so $15000000000.00 for the airline industry at really want one last than 3 months at a parade so they're. just trying to track cram as much of their agenda in as possible so that at least everybody gets some points and which really isn't

effective in the bigger picture so based on the cost estimates of the various provisions bank america estimates at this new stimulus package will contribute approximately 2.7 percent of gross in 2020 mainly from rode into q one which is good because the start of the year is looking pretty shaky with the weaker economic data coming out so this is also likely to be the last major coded focused fiscal package according to goldman sachs so assuming that is facing a divided congress next year goldman does expect another debate over fiscal support in q one ahead of the extend unemployment provisions however since congress left the most difficult issues out of the current package it seems quite unlikely that lawmakers will be able to even agree on those in the subsequent legislation so all in all it's a temporary ban a very similar to like the phase one deal of the trade deal we have with china where all the difficult meaningful issues have been left out in order to get it

done so it's just essentially by my. time to kick the can down the road and see the progress of this vaccine that everybody is adding on it's definitely politics in the united states for sure octavio now global markets mostly fell monday as a fast breaking strain of corona virus emerged from england which we talked about earlier in the show which prompted fresh travel restrictions is that late december santa rally in question now due to this latest surge in the copen 1000 in corona virus that we're seeing. well i have to admit that the reaction the markets has been scratching my head today i mean you came down about 2 percent today we close out the day it was a respectable down one percent the pounds any bob so if you look at the pound against the dollar against the euro is pretty much unchanged down $0.10. the markets seem to do this is that we're long on the road to developing the maxine david and the and then you're going to hit the road blocks like this and taking it very much in a strike i'm surprised because this. is pretty severe the travel

bounds produce and it's not looking good so we'll see how this unfolds look at the time the markets face going to be your last and busy. now kristie there's a new credit suisse report regarding accelerating socio economic trends to take over night take a break down that report for us. so those will truly interesting and further highlighted these trends that we were already previously aware of but now coded has accelerated those trends so this includes the digitalisation of everyday life that trend towards more flexible work arrangements and work from home telecommunicating ability cashless payments increase on demand a limited capabilities increase decentralization away from urban areas so by allowing more remote work congested cities such as manhattan los angeles and chicago there are no longer attractive living spaces and we've seen massive exodus from the city as people flock with the neighboring areas

a more rural location smaller cities where you get more value for the dollar in terms of real estate so remote work looks like it's here to stay as it's more cost is a more cost effective solution in the long term as well for businesses so the demand for office space and business travel will likely decrease and not recover for some time and on the other hand delivery has become one of the most important services down this includes on demand delivery for food groceries packages mail shopping and even services as people demand hairstylists mrs chefs to come to them and so the customer is now bantering out and seeking them out so on the macro side of things it's also accelerate the expansion of the state and further increase the gaps between the wealthy and the disadvantaged groups so with coded socially disadvantaged population groups are more likely to suffer job losses and lower income and they're also the most likely to be placed out of work due to getting sick from jobs that have a higher risk of exposure to cope it now activia when their own one of these long

term impacts of these trends will we ever return to globalization or did covert also excel or aid us down the path of protectionism and more border control because we deadly saw that trend well before cold did moving forward but what are you seeing there. well i think there's a very real risk that this becomes part of the landscape and that governments now whenever a new virus breaks out whenever there's no risk coming out the governments who respond with very very heavy heavy hand i mean of course the past 1015 years we've seen the outbursts of viruses that never really went anywhere. they were fairly but molly i think in the current climate it was supposed things again governments would not want to appear as the place would react very aggressively to this outbreak so i'm afraid in the future every time we see it at home virus how is a virus discovered or someone might have there's a people with the government. or shut down some travel restrictions. i'm afraid

that's going to become the way things are going to be into the future. or 19 as soon as we see some of them are is on the horizon we'll see locked down travel restrictions. kristie what do you see on that globalization front as well do you see us moving more towards a protectionism overall or or how are you seeing this especially economically for that matter. absolutely because i think with tighter border controls there's also going to be increase frictions between everybody including trade because everybody now with co that is an award for economic state every single government every single state they are now cash they have massive cash deficits massive debts so the only way to recover from that is to focus internally and you have stricter stricter protection over ickiness intellectual property whatever their acts most export goods are all of those are going to because everybody now needs to build their war

chest after being so depleted with kogan for us to hear and to your previous point too about the whole technological movement it does seem that at least personally whenever you run into a convenience based situation like we are here with coke and when you say ok i need to have delivered groceries then you realize how well that really works that just moves into your daily life moving forward boom bust co-host christine. the c.e.o. of up a celibacy thank you both for your expert analysis today. thank you sam. the representatives from the united states and vietnam are expected to meet later this month to ease trade tensions now the announcement from vietnam comes a week after the u.s. labeled the southeast asian nation as a currency manipulator raising the possibility of new tariffs on vietnamese goods reuters reports that president donald trump is likely to unveil those tariffs next

month before he leaves office in 2019 the u.s. imported 66600000000 dollars worth of goods from vietnam new tariffs would likely impact the peril at tronics and other household items if tariffs are imposed in vietnam response it could create yet another trade hurdle for the incoming biden ministration. and finally if you think of innovation and use of technology i'm sure the 1st name that comes to mind is queen elizabeth stay with me here for the 1st time ever the 94 year old queen's christmas day address will be available via amazon and alexa starting on the 25th of december at 3 pm g.m.t. users with their devices set to english will only have to say alexa play the queen's christmas day message to have her voice play through their smart speaker amazon is touting the innovation and maybe with good reason as the guardian says the queen's televised coronation in 153 boosted television sales across the u.k. and that's it for this time you can catch boom bust on demand on the brand new

portable t.v.'s available on smartphones and tablets to google play in the apple app store by searching portable t.v. portable t.v. can also be downloaded on a newer model samsung smart t.v.'s as well as local devices or simply check it out portable that t.v. will see you next time. join

me every thursday on the alex simon show and i'll be speaking to us from the world of politics sports i'm sure. i'll see you then.

and she sure movielink of those who did just that in japanese and i think you don't mind that just by commision on that. the shining was all. the time you could look at the my face you know for how long to name a country not if they were established at the map. and you. have the economy to have more than a last step is that. moment was going to be. the month to go no i mean that i'm so glad you're going to mexico i'm almost around to know that i'm going to use the term obama well i'm going to go. look at what's going to become a long way to go to get to my homeland going to come up thinking i come up each time she comes home to go missing i'm just going to go maybe i'm not really happy

that minute going to. be. the developers of russia sputnik of a vaccine the galilei institute side an official memorandum of cooperation with astra zeneca the hope that combining the 2 vaccines will improve that i think is sick. and spoke with alexander ginzburg the director of the galilee institute of sport think of a vaccine. to buy parts needed my 14 year old granddaughter so you boil it in your own instructions against vaccinating children that's outrageous you're a secure your entire family the secret new vaccines i wasn't going to kill them but through the vaccines can.