4.4 • 4.9K Ratings
🗓️ 19 May 2020
⏱️ 25 minutes
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America and Europe face a wave of corporate bankruptcies as a result of covid-19. But will some businesses be able to restructure rather than go broke? Also, why some are calling for the Federal Reserve to turn to negative interest rates to alleviate the slump. And, is now the time for entrepreneurial true grit? Rachana Shanbhogue hosts
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0:00.0 | Games, stories or cartoons. Whatever they love, guide your child to the right apps for them. |
0:05.6 | Google's family link lets you block or approve their app downloads, |
0:09.1 | helping you find a healthier balance for your family online. Download the Google Family Link app today. |
0:22.2 | Businesses all over the world are in danger of going bankrupt due to the chaos |
0:26.4 | reaped by COVID-19. What can be done to save them? |
0:32.0 | Hello and welcome to Money Talks on Economist Radio. Our weekly podcast on the market, |
0:37.1 | the economy and the world of business. I'm Ratchena Shandong and also coming up on today's show. |
0:43.5 | Should the Fed turn to negative interest rates? |
0:46.1 | I think what the Fed and what Chairman Powell are probably thinking is that the risk reward |
0:50.3 | trade-off is simply not that favourable. And is this the time for creative destruction |
0:55.5 | and entrepreneurial true grit? Since 1970, at least 80% of companies have been born in |
1:02.8 | booms rather than busts. |
1:12.9 | First, the pandemic and its resulting lockdown has brought business crashing to a halt. |
1:18.0 | For many, this spells trouble. This week, JC Penny, an American department store filed for |
1:23.6 | bankruptcy following other high street retailers like Neiman Marcus and Jay Crew. |
1:29.8 | Other large firms, including Hertz, the Car Higher Company and Chesapeake Energy, |
1:34.6 | a pioneer of America's share industry, are on the brink of collapse. Governments have stepped |
1:40.3 | into help, but will that be enough to ensure that businesses survive? |
1:45.6 | Vijay Vitisferan is the economist's US business editor currently in New York. Hello Vijay. |
1:52.5 | And Vendolin Von Bredau is our European business and finance correspondent |
1:56.4 | based in Berlin. Welcome Vendolin. Hello, lovely to join you. Vijay, let's start with you. |
2:02.4 | We've seen some of these big household names filed for bankruptcy and more could follow. |
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