macquarie unable to provide meaningful guidance for 2021.nuation of the theme we are seeing, the gray uncertainty for companies that have been -- the great uncertainty for companies that have been reporting. macquarie has been seen as being better buffered in terms of being less exposed and it comes to the mortgage market. ity are a global giant when comes to infrastructure. just getting you these other numbers. other impairment charges at 901 million australian dollars. macquarie saying it is unable to provide meaningful guidance for the next financial year. lots more to come. this is bloomberg. ♪ haidi: we did just get those macquarie numbers crossing the bloomberg. let's get more from paul allen. the big banks have been pretty unsurprisingly reporting steep inclines when it comes to profit. asquarie scene has -- seen not one of the big four banks we talk about. what are we seeing in terms of the details released in the earnings results? paul: you make a valid point. the business model is different to the other big four banks. it has got o

macquarie very glad it's empty, but we are also very glad it's here. >> reporter: is also an overflowl, 32 beds with 100. >> we are not going to be talking about anybody on a ventilator. >> reporter: the least serious covid-19 patients would come here if a surge counties three hospitals and months ahead. mack as we begin to open, having an alternate care site really begins to give us some buffer and confidence to know that we can manage any spikes. >> reporter: with numbers stable, monday marks a new round of marin revisions. this studio owner, after teaching some 700 live streams, will welcome students for summer camp out her parking lot and with no mingling. each instructor will have the same 12 students throughout. >> this is their only activity. if there is any sort of virus outbreak, it will be contained much better and much more quickly. >> reporter: many new rules, so the challenge. the restroom must be sanitized after every camper is used. >> but go to the bathroom a lot! >> reporter: how well everyone stays in step with guidelines will likely determine what happens the next.

into the activities that they previously controlled and there's a great drug trafficking and asked macquarie across the frontier and you had to go from there if you will smuggling across the frontier is particularly important so yes that they did they do have that right considerable influence there and in large parts of the country. if i could ask you for a moment specifically about how much corruption and mismanagement has hampered the reaction of the government to combat covert 19 well that's a difficult question i would say that. the cases of corruption that we have seen throughout our returns are investigated it's very. different. supporting soffits and other. institutions. additions up to which corruption at the local and these british levels i would say that we have not seen any type of corruption case at the national administration vs been a decentralized government. in my view there has been a remarkable display of efficiency you need to be on board the nation despite differences between the local and the national authorities there has been a remarkable whiting or it and display of a

acutely sharp on emerging markets and international economics, and pulling that into for macquarie groupi got to go into the dollar dynamics. the president i think wanted weak dollar, and now he once strong dollar. what dollar are you predicting? thierry: good morning to all of you. we have a view of the dollar that sees it weakening versus , anduro and sterling delving into the back have this year. what trump once or , buts not relevant here one of the issues the market has not factored in recently are the risks around the u.s. election. not thinking so much about the presidential election, but if the senate goes to my credit, i think the situation with regard to taxes could change in the u.s. we could see a shift away from u.s. equities and shift toward higher statutory corporate tax tax. -- tax rates, wealth if that is the case, we could see the dollar start to weaken against the majors. that is clearly one thing that could take dollar a bit lower relative to the euro potentially . i think the market is not taking too much account right now. even if we were to get something like this,

in reply, the labour leader sir keir starmer said there are a macquarie... out more plans for the lockdown. we have gone through... changing our lives on a scale unimaginable only month ago. tragically, many families have lost loved ones before their time, and we share their grief. yet, our shared effort has diverted a still worse catastrophe, when they could have overrun the nhs and claimed half a million lives. every day, dedicated doctors, nurses and social care workers, army medics and more have risked their own lives in the service of others, and they have helped to cut the reproduction rate from between 2.6 and 2.8 in april two 0.5 and 0.9 today. the number of patients and hospital has fallen by a third since easter sunday. 0ur armed forces have worked together with the nhs to build new hospitals on timetables going from years two weeks, and our challenge now is to find a way for to preserve our ha rd—won preserve our hard—won gains. there can be no greater mistake than to jeopardise everything we have stricken to achieve by proceeding to farand strick

look, macquarie and a number of others are all saying this is , the control and contain worst case outcome. what does it say to you and is it a process of control? simon: in terms of the remember the fixing -- remember the -- imbi fixing, it was stronger than the bloomberg survey. we certainly had a few days last been more it had substantially below, but again, it was not efficiently different from expectations to be sending a strong signal. it looks like, for the time being, that the chinese are willing to accommodate some weakness and that is perhaps surprising. maybe this is commensurate with the very large market reaction you wereeen, as suggesting earlier. the introduction of the hong kong national security law really is very substantial change in geopolitical terms, and with respect to the fall and fiscal expenditure. his was actually quite significant. i was reading some barclays research, for example, suggesting that the consensus derived mostly from bloomberg was affecting a real fiscal deficit that had been around 10% of gdp, as barclay counts, and a of gdp.8.4 percent very signi