to ditch its budget rules with case numbers growing in italy germany and spain board member states are considering taking on board debt to drive the fight against the disease. also on the show buyers says its chairman is stepping down early as the company continues to wrangle with tens of thousands of lawsuits over the we kill a round up. and cash strapped cuba begin selling used cars if only average cubans could afford them. this is your business report i'm stephen beard's in berlin it's good to have you with us taurus numbers are down and concerns are rising across europe the spread of the coronavirus is already hitting economies across the continent many of them dependent on chinese tourists who haven't been coming for weeks now with local cases of the virus also on the rise in italy spain and germany for example more governments are considering debt heavy stimulus packages a top official has now signaled approval. hour is a must for tourists visiting paris afterwards they might go on a shopping spree normally there's a long line in front of the louisville store on the show i'm so b

with the case numbers growing in italy germany and spain and more and more what you member states are considering taking on more debt to fight to the economic fallout from the coronavirus epidemic. and also on the show bias says its chairman is stepping down early as the company continues to wrangle with tens of thousands of lawsuits of the wheat killa around town. welcome to the business life from berlin i want to jones good to have you with us fears of an epidemic has investors on edge in asia where japanese markets continue to this sell off for the fed today running the nikkei was down more than 2 percent on fears the olympic games may be called off however in china there maybe is some cause for hope markets are up on news that the country is seeing fewer deaths from coronavirus and that as a central bank announced stimulus measures designed to offset the economic fallout from the virus. and more let's bring in our correspondent in taipei it suits. the epidemic seems to be under control inch high and has business returned to normal then. well the government's figure would tell you

tourists has already been dwindling for weeks now with local cases of the virus also on the rise in italy spain and germany more governments are considering dates heavy stimulus packages. the eiffel tower is a must for tourists visiting paris afterwards they might go on a shopping spree normally there's a long line in front of the louis vuitton store on the shelves of easy but not today. the economic effects of the coronavirus can be felt in this duty free shop as well. suspects but if you know business is bad 60 percent of our customers come from china that means 60 percent less business doesn't want brussels made no prognosis on wednesday about how strongly the e.u. economy will be affected by the coronavirus outbreak of g.d.p. but in many e.u. countries people are talking about economic stimulus packages the e.u. economic affairs commissioner made it clear there could be exceptions in the e.u.'s otherwise strictly regulated debt policies and austral. as it stands right now the stability and growth path. contains clauses for flexibility. that shit goes down say. they're linked to exceptional

less tha n one of the london airports paying less than £140, $180, for a three night break in italy or spainand unprecedented access. night break in italy or spain, four hotel, and unprecedented accessm could end up being turned into to exude you end up quarantined and stuck there. that's the concern. the first anxiety is an idea a lot of people around the world have that if you go to one of these coronavirus hit countries, you will catch the virus and secondly, you will sadly day. most of those are unlikely. the other worry is particular for people with family, business commitments, do we really want to take the chance that we might be locked up in a cruise ship injapan or a hotel in tenerife in spain? where does this leave the passenger in this current state of uncertainty? if you are looking at a pre—booked a trip in the next few weeks perhaps, saying i don't particular want to go on the strip of the airline are still flying, it still going ahead, where does that leave your rights? what about insurance? unfortunately, if your own government is warning against going to your particular dest

is also coming up with case numbers growing in italy germany and spain more and more e.u. member states are considering taking on more debt to fight the economic fallout from the coronavirus epidemic. and german chemicals giant bio posts better than expected profits for 29 teams but remains in tangled you know a massive wave of costly lawsuits over the weeks kill that brown dot. com to do business like a johnson berlin good to have you with us i was starting with a look on the markets european stocks opened 2 percent down this morning due to mounting concerns about the spread of coronavirus on the continent the virus is highlighting the fragility of the global economy affecting the circulation of shipping containers interrupting supply chains and affecting consumer confidence and the biggest losers right now are airlines easy jet has seen its share price plummet losing 20 percent of its value since last thursday's close though it's not the worst affected you know we've seen a 38 percent decline in its share price over the same period. of the groan a virus has also reached

european union has come up with deals if you remember during the height of the european crisis when italy spain and many other countries were in crisis in 20112012 often deals were made at the really last moment when you know high pressure stakes and so 'd in that context of by setting such a tight deadline it may not necessarily be a bad thing from a tactical perspective and of course the u.k. had under 3 some may have 23 years of negotiation which didn't really come to march so to some extent i think it probably is prudent to have a different strategy and have these aggressive timelines so in that sense tentatively may not be such such a mistake to do so right when the u.k. government says it will not be ruled takers that it won't allied with the rules or how does that set up the whole negotiation process how's that gone down in brussels well it's not come down too well in brussels at all just this week we've seen slight tweaks in changes in rules regarding me for 2 regulations in the e.u. which caught the financial services in the city of london really on the back for. quite a while you abou

have to pull the country starting with the recruitment agreements in the fifty's and sixty's with italy spain greece and all these countries but ending now with immigration all 3 so we have the example of the minister of health who's traveling around the world to get migrants coming to jobs we're going to see another example of that a little bit later on but let me ask you this one person's multicultural is another person's parallel society the idea that different ethnic groups live next to each other sensually in a form of ghetto cut off from the larger society what's your experience as a person who's been in this country now for i think it's 4 years it's only 4 years but i work with migrants for being here ready for you know more years than that and i have to. seeing with them what's the was a transition that takes to actually feel integrated and there's many people sadly who even have born here and they don't even feel themselves german so there is definitely i would like to highlight what matters the set i mean we have to work towards look at it as a positive thing because unfortunately s

issue at stake what level and how now france isn't the only country looking to do this apparently italy spain austria and the u.k. they have all announced plans to have some sort of digital service tax and these taxes will actually be based on online activity by the people residing in that country regardless of whether their company has a physical presence there are not yet that's correct and actually stephen ocean our national treasury secretary he's actually said this is not really a tax he calls it a tariff because it's actually it's a gross sales tax it's not on income and he's right it's not a tax it's a tariff so yes it's a tariff when you mention the countries you're right totally it is also includes hungary as well as the other countries that you mentioned and many others they've already instituted some of these local taxes so i think again you'll see sweet you'll see a sweeping consolidation of this is interesting to note when you look at certain countries you look at different places where they like like ireland they actually incentivize companies to come there because of their low

austria, switzerland, croatia, italy, spain are the latest to come in.here's a lot of concern over iran and the ability of the iranians and their infrastructure to be able to contain an outbreak of a virus like this. let's be honest, the u.s. has not had the greatest cooperation from china. it's been very difficult to get the information needed to be able to take preaction. >> harris: and white house advisor cure to cal kellyanne conway had more to say. let's watch. >> we are here to help the world health organization as well. there is so much uncertainty and that's why the market is responding thusly. we just don't know everything about this coronavirus. obviously it's different than the other viruses. >> harris: ashley? >> well, she is right. certainty is not a good word for the markets, and the fact that getting your hands around this is very difficult. we know it's probably dull not probable that this continues. there is no sign showing it won't. it'll have a big impact not only on the u.s. economy but on the world economy. as a result, everything sl

from china, area that seems to be growing because there are nferences across many countries like italy spain, inland i should say they're also seeing attenes pull out because of the year the coronirus funny noe out this becausehey deal with percentages of tors area you can appreciate is year that man's and looked at the numbers because numbers best their ves that they crunched the numbers and figured it as just too low for them, not to tend coming up at 9 o'clock we will hear from more people about the fear of being at the conference altogether though about 40,000 people should be milling about over the next couple of days at the muskogee cent. >>back to you all right pefully all her washing their hands and covering their mouths when they cough than you well, so this is the key was tied to that expert here on kron 4 and do have the latest look at the numbers with coronavirus now a rising to 2600 worldwide have died of the virus. througho the world and this is spreading as you know, sir asia, europe and the middle east. >>new this morning in east bay priest at the catholic diocese of oakland

our needs are different, spain, germany, italy, and the prices arejust going spain, germany, italy, andgoing up through the roof. wages are going up through the roof. wages are going up through the roof. so it is definitely a difficult time. we are feeling the pinch and doing everything that we can to keep going. now the rest of today's news. the inquest into the death of the tv presenter caroline flack has opened. her family have shared a previously unpublished social media post that she wrote shortly before she died. richard galpin was in court. what has happened today? this has been the opening of this inquest. we have heard details of what happened last saturday when caroline flack died. we have heard how police officers in north london had been driving through the area, and were flagged down and asked to come into a residence. in that residence they found a woman lying on her back, and that there had been a hanging, and of course they try to resuscitate caroline flack. the police started initially then paramedics took over but they were not able to save her, and she was pronounced

leagues in spain, italy france and germany and closer to home, scotland have all had time off mid—seasonnefit? the players for starters, some already getting some sunshine. while clubs in european competitions get a chance to refresh and clubs at the other end of the table, time to regroup. and don't forget this man. as england got the summer adventures in the european championships. —— as england put the summer adventures. so whilst the premier league goes into semi—hibernation, lots going on in europe and cristiano ronaldo keeps on raising the bar. he scored twice for juventus in their 3—0 serie a win over fiorentina. stand by for some stats. he's now scored 50 goals in 70 appearances for the italian champions. he's also scored in nine consecutive matches, he's the firstjuve player to do that in 15 years. staying in italy there was a bit of history as daniel maldini became the third maldini to play for ac milan. he follows father paolo and grandfather cesere to wear the famous red and black stripes. and another son of a former footballer continues to break records in germany. erling on

to loosen its budget rules with case numbers growing in italy germany and spain more member states are. littering taking on more debt to drive the battle against the disease. also on the show buyer says its chairman is stepping down early as the company continues to wrangle with tens of thousands of lawsuits over the we kill or roundup.

in europe, the focus is on italy and spain. deaths have been 300 22d and around confirmed cases. in spain, they had to shut down and quarantine about 1000 people at a hotel in the canary islands after one of them was confirmed to be affected with the virus. additional cases in europe in countries likes little and for the first time as well as croatia and austria reporting additional cases. in the u.s., the cdc unveiled a emergency plan. the white house, playing down the economic potential market impacts, saying things in the u.s. at least are under control. the cdc, getting prepared. >> thank you so much for that. to run through the headlines out of hong kong, we have hong kong revising its fourth-quarter gdp zero .3%o minus quarter on quarter from 0.4%. , and hong kongg ,s also handing out as expected as reported earlier, $10,000 eachkong dollars to permanent resident. hong kong, it is budget day. we are looking at the financial secretary paul chan looking to boost the economy which is already in recession. expectations are fo

the far right on the rise in italy and spain it fronts in the netherlands is it only a matter of time before the f.t. becomes a major political force in germany is that is the holding power of some sort of least regionally more or less inevitable it's not written in the book of fate that populist succeed and given the german history we come from a totally tarion past we are much more sensitive for everything that is and to democratic and to institutional highlighting the importance of a person over institutional pros who serves in the political culture where the i have tried to achieve is to disgrace politicians and focus much more on personnel than on content because they don't really have much to offer if they would have something to offer they could be part of a democratic discourse which they are not because they are destructive they insist instrumental lies institutions for a farce like in 3 mya and it was a great victory for them to see a.k.k. stepping down but the actual goal is to get rid of makeover this was always the slogan from 2015 on when they hated her for being a human

leagues in spain, italy france and germany and closer to home, scotland have all had time off mid—seasone already getting some sunshine. while clubs in european competitions get a chance to refresh and clubs at the other end of the table, time to regroup. and don't forget this man. as england put the summer adventures in the european championships. patrick mahomes is a name you may not be too familiar with. but he's just become pretty much the biggest star in the nfl after a starring performance in american football's superbowl. he led the kansas city chiefs to their first title in 50 years with a nervless final quarter display against the san francisco 49ers. patrick gearey looks back at the greatest show on turf — and its mvp. on a day of the chiefs, there was one undoubted king. when patrick mahomes received this bill kansas city were going nowhere. 43 yard later they were already in a different place. that pass offered a path to an incredible comeback. pass after pass coming out after ert turned it around. the chiefs scored 21 points in a sensationalfinal quarter to snatch the title

pmi data out of europe this morning that seems to suggest there's a little bit of a rebound in italy, spainere. do you think it is going to be resilient enough to overcome concerns about the coronavirus? jim: i kind of do. i lean more that way. we have a lot of stimulus in the pipe that has been showing positive results, no we are going to get more with this resolved. growthink that economic with earnings is pretty good. i think this is going to be more like a one quarter shock to economic growth, particularly in that,but probably beyond if it gets better again and goes back to some of the fundament of trends that have been improving. is really looking good. the zoo survey there is way up, and that has been a good leading indicator. even in china, we had improvement in the manufacturing pmi's there, above the $50 area. certainly this is going to take a hit. it could get worse. as i say, i'm not an expert there. i also think if you look at some of the past episodes, this is probably a temporary phenomenon, and the fundamentals will come back into play later this year. sonali: futures are up

the obvious ones are italy and spain everything i read and analysts i speak to talk about the changingthat there is a lot of pressure applied to them to losen particularly when it comes to the capital requirements are you optimistic we'll see a loosening of regulation this year >> i think we are past the tipping point. we've almost had a decay and a tightening of more and more capital that is now stable you are moving into a return phase rather than a raising phase. there is one or two companies pushing up the short-term capital requirements but ingeneral, we are beyond that with their decision in trading in europe. following what we have seen from deutsche bank, what do you think of this strategy is it necessary to have this sales and trading business if you are going to have a robust banking franchise? >> hsbc is the latest bank to say in equities we are going to pull back. there is more synergies between foreign exchange it is really in london, it is like deutsche bank 2.0 they'll really support the ecm business sort of middle market uk business. there is a lot coming out. it has to

italy. authorities in spain have quarantined more than 700 guests at a hotel in the canary island after four tourists from italy were found to be infected. they say the guests will reremain in isolation for 14 days. algeria also traced its first case to an italian man who entered the north african country earlier this month. the growth of the virus is sparking fears of a pandemic. but the president of the united states is downplaying the risk to americans, a day after health officials in the country warned it's not a matter of if, but when the virus will spread. >> the number one priority from our standpoint is the health and safety of the american people. because of all we've done, the risk to the american people remains very low. >> trump appointed the vice president to head up the country's coronavirus response team. moments after he spoke, the cdc confirmed the first case in the country with no known links to another patient or travel abroad. the person is from california. there are 60 cases now in the united states, including 42 passengers who are evacuated from the diamond princess cru

markets like uk, italy and spain turning positive with spain up about .6%.is still down about 6.8%. so slightly more than the 6.2% loss we're seeing on the s&p 500. it does come as the number of coronavirus cases in europe continues to rise with a virus spreading south in italy and new cases emerging in austria, switzerland, spain and greece france today also confirming its second virus-related death it comes as the world's largest spiritsmakers are warning the virus will hurt profits, a $200 million hit, big events canceled and tourism not helping. a year-to-date chart will show you stock is down nearly 9%. karl, back to you. >> seema, thank you very much. let's get an update with sue herera back at hg. >>> state prosecutors say columbia gas will plead guilty related to a series of gas line explosions in the suburbs of boston in 2018 one person died but dozens of buildings were completely destroyed. >>> the u.s. army asnounsing an active duty soldier in south korea has tested positive for the new coronavirus. the base commander saying a thorough investigati

concerns about italy, iran, spain, austria. another look as we approach the u.s.hen we faded quite sharply. we tracked down toward session lows. 1.76% today. 400 was a big line for a long time on the stoxx 600 and breaking through it was a massive moment. resistance became support. is 400 going to hold? look at the volatility story in europe? higher, andpped then another spike higher in volatility. pay attention to that. it is important. what is happening in terms of the individual markets around europe? the ftse 100 is down 2%. the dax down 1.8%. the madrid market, where we have seen more cases of the coronavirus, a hotel has been quarantined. madrid the market down 2.32%. peripheral markets underperforming. money is flowing into the core markets. that safety trade is on. every single sector in europe is on. the miners are looking a little bit better. signs of stabilization in china. that is what the who has been pointing us to. the household sector, food and beverage, the defensive bond proxy names are looking better relative to the overall market. a much more e

confident financial markets lent generously to governments and the weakest economies spain greece italy portugal suddenly had access to loans a very low interest rates close to those available to germany. that low cost financial windfall was an economic boost all was well thought out. meanwhile in the united states america's housing bubble was expanding and in 2007 the subprime crisis struck thousands of homeowners lost their homes they had taken out loans with interest rates that rose sharply and they found themselves unable to make their mortgage payments. many banks were in danger. on september 15th 2008 lehman brothers one of the largest u.s. investment banks collapsed elected in. a phenomenal speculative surfin mess because the. present so that your couscous a posse of honestly didn't so give you the presumptive don't let. them continue to effect you more on. debt good with the presumptive the currency get on play. hockey live for they could have done it. because it is good with puppy it is surprise to us that in a while the reason. they don't is all they want to have in the coming

might the markets pullback from spain from italy from la belle frosts and might not europe bring upon itself the catastrophe that it so wished to avoid and therefore the argument was it is far better to give greece all the money it needs to repay its indebtedness than to run the risk that the market would perceive a sovereign restructuring in europe as infectious as contagious. only after 6 long months of crisis europe finally decide its bite resistance from germany to lend greece enough to pay its creditors. a small on up whenever it has you broke a new dog bell today and you could see that ice everybody logged less than 0000 overpass unclear cement in his affair you know i could problem in europe i would eclipse to rub it off because it you know put it in a buy you comment unless it be your bell did a disk looking as you know we don't listen as we know it would dislocate if not it is that last year it appeared up on peggy accountable me you know number one our own taylor to all basket and want their book to do or. say brought it out or get it off it discuss it so they said that or v

we know italy and spain are considering doing that.he highlight from the interview is you have a commissioner saying i believe 2020 will be the year where we will finally get to an agreement at an oecd level. this is a tax for everyone. also that u.s. executives like the idea that her than they did a year ago because they feel the eu does need to be moving that way. it is better to get one big tax for everyone rather than having to deal with individual member states that would have to do this differently and having to pay different tax rates according to different regulations. it is better we have to get a global solution. that is a shift in town, and when it comes to digital reform, it is probably the highlight. doesn't mean we are moving closer? it depends on who you ask. there is hope we will see the reform done by the end of the year. we have been here before and we did not get anything. guy: how is this good for innovation? how will this help us move forward with some of these technologies? maria: we don't know. the reality is the

way italy andhe spain have. what does the host nation of the next world cup get? benefit is to begin our operational plans, test new teams. these people will eventually work at the world cup. it's another opportunity to showcase the hosting capabilities, the new facilities built here. the teams are training on valued training sites. there's a lot that needs to be tested. reporter: they go back to egypt with another trophy in their cabinet. it is not the end of the road for the 10 easy ends quite yet. they are 10 points clear. duty, no doubte they can confidently expect another trophy in their cabinet sooner rather than later. shorten the delay of the rally in sweden. they finally got underway friday. a thin layer of snow covered the gravel roads. cut fromges had to be the race because of unseasonably warm conditions. it also forced the cancellation of the opening stage. elson evans got two of the four stages. eight and a half second lead as the defending champion went into number two. we will have more for you later. that is it for now. >> you can find much more o

but with the case numbers are growing in italy germany and spain and more and more what you member states are considering taking on war debts to fight to the economic fallout from the coronavirus epidemic.

spain italy australia they also misjudge the situation in your country yet you seem to be badly misunderstood by some of the most expert biggest experts in the world yes they are really not about happened i don't think they know so little that they shouldn't be need to be more educated we have been fighting terrorists as credible is it i mean you can sit here and say that but that's insulting to their internally she says have loss and there is a line between freedom of expression and incitement and murder and we have laws in our country we have a court system and people have to obey the laws and the courts and sundry but are the ones who are due to keep these cases and nobody else was to prospective n.g.o.s and all the hidden by talk of stations and virtually every human rights activist is sitting in jail snottery. why would they make it up do they make up things the sons will do nothing i was only going to be asked why did they last may we are charged with detaining women for asking for the right to drive that's not true why would you detain somebody for asking for a right that the king all

just the fear of the unknown have has them also withdrawing from e conference in countes like italy and spain and england as well. mayor london breed, she's already reached out to leave the people in attendance as san francisco, the health department as well as some of the her health departments across e street state in the country will be staying on top of the situation and that people have no need for major concerns but that's still not enough for lot of this conference goers. you can see them right hind me james darya secuty already in front some of exhibit people there theye showing up heading to their boots will tr to talk to them but i can tell yo >>the fear is very much. coronavirus even at a conference that's suppos to tackle security. >>all rht, thank you very muchwell a number of deaths from coronavirus is now at more than 2600 worlide as the virus continues to spread in asia, europe and the middle east. another big storthis morning of remarkle story of survival that palo alto couple that we were following last week tt were missing. >>for more than a week. they're now recovering in