Flaw in mass testing, BP chief weighs in on oil, rental car groups under pressure
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 May 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
The head of an Italian biotech company that sells Covid-19 diagnostic and antibody tests told the FT that demand far exceeded supply as countries put mass testing at the centre of plans to ease lockdowns, BP’s new chief executive, Bernard Looney, said the coronavirus hit to crude consumption was likely to endure beyond the pandemic, and, as coronavirus takes a devastating toll on senior living homes, investors are being forced to recognise they are more than mere landlords. Plus, the FT’s motor industry correspondent, Peter Campbell, explains why fewer bookings is not the only reason rental car companies are hurting.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Tuesday, May 12th, and this is your |
| 0:05.4 | F.T. News briefing. Many governments are easing lockdowns with plans that |
| 0:11.2 | rely on mass testing. |
| 0:13.0 | But one biotech chief executive told the F.T. |
| 0:15.6 | that the demand for tests will far away what's available. |
| 0:19.1 | Plus, the new chief executive of BP |
| 0:21.6 | says the pandemic may have ushered in peak oil demand and |
| 0:24.8 | the businesses behind senior living homes are struggling as residents remain |
| 0:29.2 | vulnerable to the virus and theT's motor industry correspondent Peter Campbell |
| 0:34.4 | explains why fewer bookings is not the only reason car hire companies are hurting. |
| 0:38.8 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:43.0 | In the past few days, we've seen areas hit hard by coronavirus unveil plans to reopen. |
| 0:54.0 | On Sunday UK Prime Minister Boris Johnson abandoned his stay-at-home message as he set out a |
| 0:59.6 | three-stage plan, one that many felt left questions unanswered to get |
| 1:04.1 | Britain back to work. |
| 1:05.7 | We must stay alert. |
| 1:07.7 | We must continue to control the virus and save lives. |
| 1:12.4 | Meanwhile, New York Governor Andrew Cuomo said yesterday that the state that was once the |
| 1:16.9 | global epicenter of the pandemic is ready to start phased reopening. |
| 1:21.1 | A key component for both of these plans is testing. Mr Johnson said |
| 1:25.7 | Britain would need a quote world-beating system for testing potential victims. |
| 1:30.1 | But the chief executive of the Italian biotech company Diasaurin says that mass testing central to lockdown exit plans in many countries is unrealistic. |
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