How hes been getting by in these challenging Economic Times and later in the hour well check in with Healthcare Workers on the frontlines of the covid19 fight to see if the situation here in new york has been improving. So all of that, is coming up. First though our top stories of the day fox Business Team coverage with blake burman following the latest news out of the white house. Lauren simonetti on the markets we begin though with Edward Lawrence live in washington. Edward . Reporter yeah, connell we all know that headline number 20. 5 Million People lost their jobs in april, the Unemployment Rate at 14. 7 , that is the highest recorded Unemployment Rate since 1948 when they were keeping track, and if you dig deeper into these numbers almost half the job losses are coming from Industries Directly related to consumer spending. Retail lost 2. 11 million jobs, leisure and hospitality lost 7. 65 million jobs, Stores Closed , cruise ships docked, hotels not taking reservations in april.
Are moving slowly. Were down 1. 5 on the s p with one, two, three four sectors down more than 3 as we stand. Coming up on todays show, a rare and exclusive interview with the apollo manager and ceo, leon black well get his tack on this volatile market. Plus the big push with air mark to support new York Health Care workers. Well also speak with germanys minister of health as that country grapples with when and how to reopen its economy. A a better performer in a relative sense with handling the virus to come European Countries and coup tris. Lets focus on the big stories bob is tracking the sell off meg has new details on the rush to find a treatment for the virus. Phil is watching the airlines. Brian sullivan covering the historic opec deal its lack of impact on oil prices so far bob. And a great rally of last week, 12 on the s p fizzled a little today, but no surprise. Let me just show you today so banks were going to get earnings tomorrow. No surprise ch banks usually wilt a little
Selling nba products. A stark warning from beijing, stay out of chinas sovereignty. Keep your mouth shut. Theres action on the trade front. The u. S. Has blacklisted 28 companies which are accused of helping in the repression of uighur muslims in western china. The Foreign Ministry there is considering retaliation. High level talks resume in washington this week, now with a more threatening backdrop. Its another day when the market reacts to headlines. Investors clearly worried again about china trade. The white house is also looking at limiting chinese stocks in u. S. Government Pension Funds. Now, were looking at a significant drop at the opening bell. The dow is off about 170, s p down 17, big drop for the nasdaq, down about 40 to 50 points. Heres what we have. Free speech threatened, American Business threatened, china playing hardball defense as it faces challenges from all sides. Varney company is about to begin. Stuart china trade, deputy level talks start today ahead of the hig
Efore the meeting wil Parliament Saying clearly we will not take kindly if you try to buy [inaudible] one of the biggest tech deals ever. We will extend their reach into 175 countries. Recession may be coming, but investors should not fear the worst. It is all straight ahead on bloomberg best. Hello and welcome. This is bloomberg best. The most important Business News from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. Deutsche bank a dramatic overhaul of its operations at a turnaround. Bombshell. G Deutsche Bank planning to cut 20 of its workforce. Shutting down its equity sales and trading business. The losses are already starting. Comepect many of them will in london and many will come in the United States as well. The focus is about refocusing this business back on the german side of what is happening to become a corporate bank, less of an investment bank. Is that enough . What is the reaction . It is quite dramatic, 18,000 jobs, the
We have a lot of time left before the meeting. Parliament saying clearly we will not take kindly if you try to buy. One of the biggest tech deals ever. We will extend their reach into 175 countries. Recession may be coming, but investors should not fear the worst. It is all straight ahead on bloomberg best. Hello and welcome. This is bloomberg best. The most important Business News from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. Deutsche bank a dramatic overhaul of its operations at a turnaround. A banking bombshell. Deutsche Bank Planning to cut 20 of its workforce. 18,000 people. Shutting down its equity sales and trading business. The losses are already starting. I suspect many of them will come in london and many will come in the United States as well. The focus is about refocusing this business back on the german side of what is happening to become a corporate bank, less of an investment bank. Is that enough . What is the reactio