Page 61 - Blimp News Today

Where theres been a major economic warning today from the bank of england. the governor says the country is heading towards its sharpest recession on record. andrew bailey says it will take time for the economy to recover once restrictions are relaxed. heres our economics editor faisal islam. at east midlands airport, there may be no passenger planes right now, but cargo carries on. the pandemic means new patterns in the goods being traded back and forth as the worlds major economies face recess...

For 300 years, with the coronavirus epidemic dramatically reducing jobs and incomes. the governor of the bank of england said the economy is expected to contract by 14% — thats more than double what happened during the great crash of 2008. the unemployment rate could double to 9%, though the bank thinks the economy will bounce back next year. today the death toll from coronavirus rose again — 30,615 have lost their lives in the past eight weeks. more on that and the lockdown in a moment but ...

Indeed, the bank of england sees unemployment more than doubling, up 1.5 million, rates not seen since the mid—1990s, and taking two years to then fall back. people at home, they see that chart, it looks quite scary. the chart reflects the reality that we have been in now since march. where i think they should be reassured is that i can tell you that both the government and the bank of england have put in place a very big package of measures and we will go on utterly focused on that. the wheel...

So, previously, the wage i was on wasnt too bad, but ive been applying for minimum wage jobs. indeed, the bank of england sees unemployment more than doubling, up 1.5 million to rates not seen since the mid—1990s and taking two years to then fall back. people at home, they see that chart, it looks quite scary. the chart reflects the reality that weve been in now, you know, since march. where i think they should be reassured is that i can tell you both that the government and the bank of englan...

The dow almost 10% lower. 2,352 points. have not seen that level since the summer of 2017. what does that mean? all your gains have been wiped away going back to the 1usummerf 2017. the s&p and nasdaq closed 9% closer joining the dow in a bear market. the new york fed said it will pump 1$1.5 trillion into the financial system citing highly unusual disruptions in the treasury market linked to this virus outbreak. the fed is trying to ease concerns that banks wont have enough cash to lend to busin...

Remarkable. they are now all in a bear market. then this, the new york fed said it will pump 1$1.5 trillion int the financial system. the fed trying to ease concern that banks wont have enough cash to lend to businesses. the battered airline industry took more hits after news of president trumps european travel ban. norwegian air temporarily laying off half of its workers. american airlines reducing international capacity by a third over the summer. delta suspending flights on seven european rou...

Trying to bounce back after their worst day in years there. stocks recorded their worst day since the black monday crash of 1987 in the u.s. the dow down 2,300 points. we have not seen that level now, 21,200, this is summer of 2017, more than 2 1/2 years of gains evaporated because of risks of recession because of the coronavirus. the s&p 500, the nasdaq both down nearly 10%. they are all in a bear market. the stock market is telling us the u.s. economy will grind to a halt and mohamed el-erian ...

Took more hits after news of president trumps european travel ban, norwegian air temporarily laying off half of its workers. american airlines reducing international capacity by a third over the summer. delta suspending flights on seven european routes to and from paris and amsterdam. airline stocks down sharply. united last a quarter of its value in one day. the nations top infectious disease doctor said this during a town hall. >> i certainly wouldnt get on a plane for a pleasure trip. it woul...

Of thousands of people that get better just by, you know, sitting around, even going to work. some of them go to work, but they get better. democrats are polite sizing the coronavirus. when you have 15 people and 15 within a couple of days is going to be down to close to zero -- >> so after weeks of those upbeat assessments, the white house is now catching up to markets. more than half of the s&p 500s gains since trump took office are gone. more than a year, almost a year and a half are wiped ou...

If you stay calm, it will go away. >> blindsided the world and i think weve handled it very, very well. >> we have thousands or hundreds of thousands of people that get better just by, you know, sitting around and even going to work. some of them go to work, but they get better. >> democrats are polite sizing the coronavirus. >> when you have 15 people and the 15 within a couple of days is going to be down to close to zero -- >> after weeks of those upbeat assessments, the white house is catchin...