Money Talks: Closed for business
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 24 March 2020
⏱️ 28 minutes
🧾️ Download transcript
Summary
In a desperate attempt to slow the spread of covid-19, governments around the world are ordering residents to stay at home. As the number of fatalities increases, so do the corporate casualties. Which companies are worst-hit and how long will they be closed? And, as Americans stock up on goods in preparation for lockdown, a peek into the pantry shows the scale of the challenge facing one of the country's core industries–dairy. Plus, can global trade weather the economic havoc caused by the virus? Simon Long hosts.
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Transcript
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| 0:00.0 | Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey. |
| 0:11.0 | So no excuses not to visit your in-laws this Christmas. |
| 0:16.5 | Trains now on Uber. T's and C's apply check the Uber app. Across the world shops are putting the shutters up and people are being urged to stay at home. Global commerce is winding |
| 0:36.0 | down as government step up efforts to slow the spread of the deadly new coronavirus. |
| 0:41.6 | Hello, you're listening to Money Talks on Economist Radio, our weekly podcast on the markets, |
| 0:47.2 | the economy and the world of business. |
| 0:50.0 | I'm Simon Long, an editor here at The Economist, and coming up on today's show, as governments |
| 0:55.9 | curb their citizens' activities, corporate casualties are mounting. |
| 1:00.5 | There is another scenario that envisions a much longer period of downturn decline if the virus proves to be nastier. |
| 1:07.0 | And that's what business is particularly worried about. |
| 1:09.0 | And... |
| 1:11.0 | A peak inside America's Pandemic-era pantry shows the scale of the challenge facing |
| 1:17.2 | one of the country's core industries, Dairy. |
| 1:20.8 | It's a combination, economic conditions, cost of labor, the cost to do business has only gone up. |
| 1:27.0 | Everything has increased. |
| 1:29.0 | Plus, can global trade weather the current storm? |
| 1:34.0 | The data that we do have suggests that this is a very severe shock. Despite efforts to curb the spread of COVID-19, the disease continues to wreak havoc. |
| 1:57.0 | As the number of deaths surges, governments have ordered people to stay in their houses. |
| 2:02.0 | Online videos have surfaced of Italian mayors in the |
| 2:05.3 | streets shouting at residents to go back to their homes. In Britain and elsewhere gatherings of more than two people have been banned, |
| 2:15.8 | non-essential shops shut and everybody told to work from home if they can. |
| 2:22.0 | Britain is a couple of weeks behind Italy which has been in |
... |
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