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FT News Briefing

The ventilator challenge, stimulus questions

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.41.3K Ratings

🗓️ 30 March 2020

⏱️ 9 minutes

🧾️ Download transcript

Summary

Manufacturers are working to produce the ventilators needed to help severely ill coronavirus patients breathe. The question is whether those inexperienced in the field can overcome the logistical and regulatory hurdles in time to deliver the life-saving machines. Plus, US companies have questions about how to access the $454bn of government funds set aside in the $2tn stimulus legislation, and Italy’s shadow workers are left out of the country’s safety net.

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Transcript

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0:00.0

Good morning from the Financial Times.

0:01.7

Today is Monday, March 30th,

0:04.1

and this is your FT news briefing.

0:06.4

Last week, Donald Trump said he wanted to reopen the economy

0:10.6

from the country's coronavirus shut down by April 12. Now he's

0:15.0

extending social distancing guidelines in the US to the end of next month. The

0:19.8

better you do the faster this whole nightmare will end.

0:24.0

Meanwhile in the UK officials have said normal life might not return for as many as six months.

0:30.0

These statements came after grim projections of the death toll from the outbreak.

0:35.6

And as oil trading reopened a few hours later, U.S. crude fell below the $20 a barrel mark,

0:41.1

with traders betting production will need to shut to cope with the

0:43.9

collapse and demand caused by coronavirus. In today's show we'll look at what

0:49.2

the manufacturing industry is doing to respond to a global ventilator shortage, business's biggest

0:54.2

questions about the US stimulus package, and a sliver of the Italian economy left out

0:59.1

of coronavirus financial assistance. I'm Mark Filipino and here's the news you need to start your day.

1:09.5

The machines that help severely ill coronavirus patients breathe are in desperately short supply.

1:15.0

New York State alone says it needs about 30,000 ventilators,

1:19.0

and one of the world's largest makers of these machines,

1:21.0

Germany's Dregar work, said the demand is going to vastly

1:24.7

outweigh the supply.

1:26.6

That's what the company expecting to produce four times the number of units it normally does.

1:31.8

Some of the biggest names in manufacturing are making moves to start producing

...

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