that —— affect sales revenues and supply of iphones and now on wednesday, it is the turn of jaguar—land roversday, it is the turn ofjaguar—land rover. we must remember that more than 2000 people now have been killed by the virus and most of them were in china. this has forced the chinese government to shut factories and shops to stop people from being exposed to the virus and its spreading. with so many idle production lines and shops shot, containment is taking a big toll on global supply chains. jaguar—land rover has three factories producing nearly 400,000 vehicles a year and the company's 400,000 vehicles a year and the compa ny‘s boss says 400,000 vehicles a year and the company's boss says it is not just the parts it is running out, this is also having a huge impact on sales and the chief executive says it is not actually sure if the company can recoup the losses it has suffered. china is a huge market for luxury cars and it has been responsible for the recent resurgence of jaguar—land rover so it really will take a hit. thank you so much for that. now let's brief you on some other busi

project vector is a spinoff of jaguar land rover with the full support of jaguar and land rover, anded some thing very special. we have created a new kind of car with a very special technology, very special space efficiency, but also, a vehicle which is being prepared for autonomous, integrating the infrastructure. we are creating a new kind of public individual transport system. it is a very, very exciting development. guy: dr. speth, what do you make of what is happening in the auto sector when it comes to the ev story? what do you make of tesla and its share price rally? do you think the market has got it right, or that the rest of the car companies are going to be able to come back and compete with tesla? dr. speth: [indiscernible] suv ony first premium the market, and we win the all the most prominent prices in the world. china.n cars, even so we are leading in many ways. if you calculate the energy efficiency, you will see that for a high degree of mobility demand, the future is electric. vehicle, and electric on electric transport is not the one and only solution, so we need a

on tuesday saying it would affect sales, revenue and supply of iphones and now, on wednesday, jaguar land roverot just parts that rover has come forward to say it is notjust parts that are in shortage but it's also affecting sales and it's not sure if it can recoup any of these losses. sarah, thank you very much, they're in singapore. let's have a look at the markets. asian shares edge cautiously higher. that's despite the lower close on wall street overnight. investors tried to shake off worries about the coronavirus epidemic after a slight decline in the number of new cases. the euro languished at a three—year low against the dollar. disappointing data from germany, europe's largest economy, has stoked fears that the eurozone is more vulnerable to external shocks than previously thought. oil prices rose. a reduction in supply from libya offset concerns about weaker chinese demand for commodities. expectations that 0pec members and other main oil producing countries including russia will cut output further should help support prices. now to the us, where president trump has issued a flurry of

there is detail here about jaguar land rover that has a p pa re ntly jaguar land rover that has apparentlya in suitcases. i think that points to the drastic element of this shortage. apple recently announced a shortage of iphones as a consequence is well. it is a big impact for major companies. economic consequences have not been focused on, inevitably, because it is health that matters straightaway but it does look more serious than other areas now full and that is also because there has been a delay to economic consequence. when the virus first broke out it was the time of the annual holiday and people were on holiday for chinese new year at the time. as soon as it gets to the point where everyone is meant to return to work, they find out they cannot or large swathes of the population cannot do that in a job we have to be in a place with other people, you cannot work remotely. that means it will start to hit the global economy. i think this is the first of more to come although the virus has been contained in some areas it has not been contained to an extent where things can return to no

so that could mean fewer goods in the shops that come from china and it means companies like jaguar land rover of thing, which means that over the next few weeks we are likely to see bigger impacts because the time taken from the factory gates to our high streets and factories as a matter of weeks so this is not going to be disruption that we will get over at any rate soon. thank you. theo leggett there. tens of thousands of people have attended vigils in the german city of hanau for the nine victims of a far right extremist who opened fire on two shisha bars. many of those shot dead were kurdish immigrants. the german government says the security threat from far right extremists remains very high. our europe correspondent gavin lee reports from hanau. outside the arena shisha bar this morning, the raw heartache and grief of families visiting the site where they lost their loved ones. six people died at this bar. six families devastated as they try to understand what happened here. 35—year—old mercedes had gone out for a pizza with friends when she was shot dead. herfather, philip, tells me hi

, on parts from china, again we can talk about jaguar land rover, oing to be struggling. if you don't have parts, you can't make products put up they're going to have to find part elsewhere, jaguar land rover has said this week they are sending people to china who can bring things back in suitcases because they need than that badly. there is a possibility that finished goods, clothing chains, they might bea goods, clothing chains, they might be a shortage of those. even if all that the factories in china resume production today, we would still probably see some kind of problems in the next few weeks because it does take several weeks for those goods to leave the chinese factories and arrive on our shores and at the moment, there aren't as many out there on the ocean is normally there would be. and this is all assuming that, as you say, it says centred on china and asia? yes, what people are saying at the moment is that there will be an impact but it could be relatively limited. it is what they call a v shaped a downturn so you see a drop in activity

jaguar land rover also facing problems with parts coming out of china to such an extent they are playingnts out in suitcases. that's right, you want to keep your supply chain running because if you can't you have to hold production. and when you do that, that affects your revenue and your bottom line but itjobs. you don't want to have factories full of people with nothing to do, so they have been playing up components in suitcases. they have been playing components from china to vietnam as part of the risk mitigation strategy but it is heading home quite soon and obviously what these plants are all trying to focus on is keeping production swimming, because otherwise it will have a knock—on effect. because otherwise it will have a knock-on effect. and the worry a knock-on effect. and the woi’i’y 01’ a knock-on effect. and the worry or china, i suppose, as if companies find other suppliers elsewhere in the world, it is easier after that, potentially, to just stick with them rather than revert back. if they can meet the demands of. is a short—term approach, if they are playing components in

at big whack for companies like jaguar land rover. it is one of its biggest markets.er effects we have seen. you are talking about big industries but there is always a supply chain and they could presumably already be affected ? they could presumably already be affected? that is what is happening in china already. china is the workshop of the world and has factories up and down the country which are constantly churning out products and finished goods, parts underestimate. they go to ports and several weeks later arrive on our shores, some of them are used in factories, some are goods on the high street. the problem is that factories in china have been shutdown for longer than expected. there was a shutdown you would normally see which is the lunar new year. a holiday. that interruption was extended because of coronavirus. the factories have not been getting back to work as quickly as people thought which means ships have not been selling us frequently so one of the big container operators says it had to cancel 50 sailings. that means a supply of goods over the next fe

now, from car makers like jaguar land rover to electronics giant apple, global manufacturing supply chainsre being hit by factory shutdowns in china. but demand is also affected. efforts to contain the disease have hit travel and tourism. british airways says it can no longer predict what its profits will be after flights to china and now italy have been disrupted. consumer spending has also been damaged. starbucks and diageo, the company behind guinness, are among those who have seen sales fall, as people stay away from bars, restaurants and shops. now the problem is, all of this comes at what is already a difficult time for the world economy. china, japan and the uk are among the countries where growth has been faltering. some economists are warning that perhaps £850 billion could be knocked off global growth this year, a hit that would be hundreds of times greater than that of sars. it isn't all gloom. there are several threads to the tail of this knitwear manufacturer in leicester has picked up orders from elsewhere. a lot more new inquiries are coming through but there is a bit of con

now, from car makers like jaguar land rover to electronics giant apple, global manufacturing supply chains china. but demand is also affected. effo rts china. but demand is also affected. efforts to contain the disease have hit travel and tourism. british airways says it can no longer predict what its profits will be after flights to china and now italy have been disrupted. consumer spending has also been damaged. starbucks and diageo, the company behind guinness, are among those who have seen sales fall, as people stay away from bars, restaurants and shops. now the problem is, all of this comes at what is already a difficult time for the world economy. china, japan and the uk are among the countries where growth has been faltering. some economists are warning that perhaps £850 billion could be knocked off global growth this year, a hit that would be hundreds of times greater than that of sars. it isn't all gloom. there are several threads to the tail of this knitwear manufacturer in leicester has picked up orders from elsewhere. a lot more new inquiries are coming through but there is a b

that race because of the ongoing coronavirus outbreak over in china yeah absolutely jet and jaguar land rover. has come up with a rather unorthodox way of keeping its british of factories going at carrying components in suitcases from china to the uk. but that will be a long term solution and sales in china meanwhile have ground to a total halt. the trigger reports. homemaker jacki woodland drive it could be about to see a major slowdown in production is the ongoing coronavirus outbreak in china couourses continued stoppages. in local manufacture. we have flown parts in suitcases from china to the u. k. just to make sure we've got thehe r right parts. e are safe for this week and we are safe next week and in the- we pararts missing. taken three may to deal with. i'll break including locking down millions of its citizens in a areas that have been struck. the center of the epidemic is who bay province whichch is a major hub in the manufacturingng shipments vic pots. and does factories remain idle supplies a starting to dry up. an issue. and you. the a chrysler said last week it had temporarily

jaguar land rover worshipping stuff out of suitcases yesterday.don't know, otherareas, burberry, otherfashion people, mcdonald's, starbucks, all having to close. nikkei, adidas, closing huge numbers of outlets. how much of a domino effect is that going to have? the two interesting pieces of economic indicators that have interested me because when i look at the stock markets, particularly in the united states and it is something now like record levels and up to scratch the back of your head saying, good heavens. because there is a chance that global growth could drop but the two indicators that are interesting are gold. that is at 1627 dollars an ounce, the highest in seven years. when you look at the stock market, it is like, what is the problem. but people are seriously concerned that if we get serious parts of the world closing down economic activity than you get that domino effect of folding over. what i think the finance minister could ask for is please give us more clarity, particularly relation to china. how much is going to damage are you c

coronavirus is putting jaguar land rover plants at risk of shutting down as chinese components are ins the financial times. concern about radicalisation behind bars leads on the front of the times. —— of the times. and the mirror's front page reports of six "danger to life" warnings, as the paper says flooding is expected to worsen tomorrow. meanwhile, the mail looks at life after brexit, reporting that migrants from the eu will be required to speak english and have a job offer, under new government reforms. the plans will also include a salary threshold and an australian points—based system, says the guardian. and the metro adds that the home secretary's ban on low—skilled workers from the eu could lead to a crisis in health and social care, and the paper also features a picture of one of the winners from tonight's brit awards, stormzy. so let's get more. david, do you wa nt to so let's get more. david, do you want to start us off. immigration revolution is the big front page headline in the daily mail. and boris's border loop rent, we are told. no messing around. this is, i still th

it produced about 400,000 cars this year, so even behind the likes of jaguar land rover, always the mostlobal basis. overall, earnings are going to be slightly depressed. we expect car demand is overly and for some manufacturers demand will be down 5% for the year. andating cash flow profitability and margin will be depressed. matt: i am sidetracked a little by the jlr comment. i wonder what your take is on the viability of jlr, especially given brexit right now and its need for funds. is this carmaker going to last? paul: good question. i think jlr is in a particular suv's in high-end particular. .ot doing so well on sedans the sort of company that needs to continually reinvent, going for the price range of car, people are always looking for someone new and innovative. ford, gm,akers, peugot, are mass-market producers whereas jlr is executive and it is harder to predict that sector. matt: they definitely need money to increase the tech presence in the range rover's, for example. i want to take a look at a chart, u.s. auto sales going back to the 1990's. the point is, we're coming down 2

in china, but because it is the manufacture of the world, it had an impact on companies like jaguar land roverdepend on china's manufacturing, and they are suffering as a result of this. just finally, we don't want to predict or scaremonger people, but if this does go on, the economic impact could be bigger around the world. that can affect people's jobs and especially if you are a small business. that is what investors are so scared of and it is why we have seen those dramatic stock market falls this week. we just don't know how long this will go on for, but it does seem to be spreading. we have had a credit investor look at this and say that it does become a global global pandemic, they could be a big global pandemic, they could be a big global recession. thank you very much. and on monday on bbc one in the evening we have a special programme on the outbreak — that's coronavirus: everything you need to know at half past seven on monday. the headlines on bbc news: the top civil servant in the home office — sir philip rutnam — resigns and says he'll sue the government for constructive dismissa

companies like jaguar land rover, volkswagen, apple, who really depend on china's manufacturing, andof this. just finally, we don't want to predict or scaremonger people, but if this does go on, the economic impact could be bigger around the world. that can affect people's jobs and ability to cope even in the short—term, especially if you are a smaller business. that is what investors are so scared of and it is why we have seen those dramatic stock market falls this week. we just don't know how long this will go on for, but it does seem to be spreading. we have heard the credit ratings agency, moody's, which looks at this sort of thing, saying that if it does become a global pandemic, there could be a big global recession. flood—hit communities are still counting the damage from storm ciara and storm dennis, but some of those affected are now braced for more extreme weather this weekend. there are more than 90 flood warnings now in place across england and wales and storm jorge is expected to bring another 80 millimetres of rain. most of the uk has wind warnings in place from midday

vonnie: ralf speth, ceo of jaguar land rover, thank you for joining us today from coventry. guy: let's talk about the headlines. tech taking a hit today. apple warning that coronavirus will hit revenues. the drop in apple surprisingly small. flat as investors see little new in this reboot. we are going to get 35,000 job cuts, though. and franklin buying legg mason. --l scale project s of protect active asset managers from the storm ripping through this industry? from london, i'm guy johnson, with vonnie quinn in new york. we are counting you down to the european close on "bloomberg markets." ♪ vonnie: grinding lower, but slowly. we are down zero .4% on the s&p 500 as more and more companies talked about the impact of the coronavirus short-term and more intermediate-term on their businesses, including the apple, and of course which is what spooked the markets after a possible turnaround day yesterday. apple said it would tried to -- china said it would try to shore up its economy. we are also getting some good earnings reports helping shore up some of the market. gold futures

now, from car makers like jaguar land rover to electronics giant apple, global manufacturing supply chainsory shutdowns in china. but demand is also affected. efforts to contain the disease have hit travel and tourism. british airways says it can no longer predict what its profits will be after flights to china and now italy have been disrupted. consumer spending has also been damaged. starbucks and diageo, the company behind guinness, are among those who have seen sales fall, as people stay away from bars, restaurants and shops. now the problem is, all of this comes at what is already a difficult time for the world economy. china, japan and the uk are among the countries where growth has been faltering. some economists are warning that perhaps £850 billion could be knocked off global growth this year, a hit that would be hundreds of times greater than that of sars. it isn't all gloom. there are several threads to the tail of this knitwear manufacturer in leicester has picked up orders from elsewhere. a lot more new inquiries are coming through but there is a bit of concern about the kind

jaguar land rover he said this week that they are being forced to china and pick up car parks and putronic manufacturers and retailers are facing all sorts of problems. apple earlier this week warned that the fire escape have an impact on iphone supplies. the hope is that these factories do eventually come back on but even if they do, there will be a timeline. that is because it takes time for a product to be manufactured in china and shipped over here. that is a matter of a couple of weeks so even if all factories resumed today, the disruption will last for some time as well. thank you very much indeed. let's catch up with the weather. good evening. after the heavy rain and flooding of the last week, you might well be hoping for dry weather through the weekend. unfortunately, that is not what we're going to get. there will be some rain at times, certainly some rain continuing through tonight, pushing southwards and eastwards across england and wales. for northern ireland and scotland, we'll see some clear spells but some showers. those showers turning wintry across high ground in sco

but it is a different story for jaguar land rover.aking out earlier today about the challenges that his company is facing as this crisis worsens. he says uk production is set to run out of parts from china in just about two weeks. that's not good. he also says sales are just not happening in china and they're not sure if those lost sales will come back. pretty pessimistic. but he does say he believes a clearer picture of the virus's impact will be known soon. shares of the parent company tata motors down more than 4% today at $11.22. >>> meanwhile, we have also gotten an all electric billionaire smackdown. that's what we are calling it. microsoft co-founder bill gates purchasing himself an all electric porsche. why not. but it was of course instead of a tesla and that news didn't impress fellow billionaire elon musk. the tesla ceo blasting him on twitter, calling his conversations with bill gates quote, underwhelming. while gates and musk disagree, one thing electric vehicles have in common is their innovative artificial intelligence.

we know how popular those large jaguar land rover cars car—maker. e of these parts and supplies but also the sales because remember the chinese market is a hugely important one falls sort of businesses, everything from luxury goods to... we talked about this yesterday, my northern roots coming out without pronunciation. we talked about this with villagers in oxford are really suffering because of the number of chinese tourists travelling abroad really suffering, so a huge number of implications and we are just getting a sense of what this could mean. let's head to new york with our reporter. michelle fleury is in new york. give us a sense of what apple said overnight because we were just saying there is a big impact with what is made and sold in china. look, we are seeing is having a big knock—on effect on car companies, and tech companies, and pharmaceutical companies... i think what apple did overnight by giving these figures was essentially put some reality into a conversation that economists have been having for a while, which is that we knew the

juggler lentil over also struggling stop —— jaguar land rover.ese parts, like tracy, who makes electronics. we always plan for the chinese new year but we were surprised last week that it had been extended. even more surprised to hear one of the factories that supplies materials to us factories that supplies materials to us is in the affected province and is on lockdown. we have been able to find alternative sources for the materials but because we need them quickly now, then there are price implications and some of that has been as much as three times the original cost. if this continues, we will have to have conversations with our customers because in the long—term we would not be able to absorb those sort of cost increases. you were mentioning consumption of oil as well? reports saying china uses 20% less oil and raw materials and that has meant a cheapening in the price of oil. the petrol is coming down but volatility is not good for the global economy. the big thing to say is that these extreme measures of stopping manufacturing and quaranti