Thursday, March 12
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 March 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
The Trump administration will suspend non-US citizens travelling from Europe for the next 30 days to reduce the spread of the coronavirus in America. This announcement came on the same day the World Health Organization labelled the coronavirus outbreak a pandemic for the first time, and the blue-chip Dow Jones Industrial Average tipped into bear market territory. Plus, Boeing lost close to a fifth of its market value on after news that it had tapped the full amount of a $13.8bn loan to deal with the financial effects of the coronavirus.
Then, we will look at what to expect from Christine Lagarde and the European Central Bank today, now that the Federal Reserve and the Bank of England have made emergency rate cuts.
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Transcript
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| 0:00.0 | Good morning from the newsroom of the Financial Times. |
| 0:02.4 | Today is Thursday, March 12th. |
| 0:04.8 | And this is your FT news briefing. |
| 0:08.0 | The World Health Organization officially declares |
| 0:10.4 | the coronavirus outbreak a pandemic, |
| 0:13.0 | and Donald Trump responds with a travel ban |
| 0:15.2 | and a proposal for $50 billion to help small businesses. |
| 0:19.0 | This after the Dow Jones industrial average |
| 0:21.2 | entered bare market territory on Wednesday. |
| 0:24.0 | Plus, what can we expect from the European Central Bank today, |
| 0:27.0 | now that its counterparts in the US and the UK, have made emergency rate cuts? |
| 0:31.0 | Martin Arnold will have more from Frankfurt. I'm Mark |
| 0:34.6 | Filipino and here's the news you need to start your day. President Trump |
| 0:41.2 | addressed Americans on Wednesday night putting forward the most extreme |
| 0:44.7 | measure the US has seen yet in relation to the coronavirus outbreak. |
| 0:48.8 | To keep new cases from entering our shores, we will be suspending all travel from Europe to the United States |
| 0:56.2 | for the next 30 days. |
| 0:58.5 | The new rules will go into effect Friday at midnight. |
| 1:02.3 | It seemed that the ban also extended to cargo shipments coming from Europe, but Mr. Trump |
| 1:06.8 | tweeted about an hour after the address saying that, quote, trade will in no way be affected. |
| 1:11.9 | Notably, the restrictions would not hit the UK, Ireland, and other countries |
| 1:16.0 | outside the Schengen Common Bisa area. The ban also does not impact U.S. citizens or green card |
... |
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