at the southern entrance, at suez. the vast majority of oil thrgh the gulf is transported to oil along the canal. we'll prices rose sharply on thursday. industry experts are warning of a flood of insurance claims covering the vast amount of cargo being held up. addition officials say at least eight tugboats are trying to dislodge the vessel which experts say could take days if not weeks. containers may have to be offloaded in order to lessen the weight. ships now face the prospect of having to travel thousands of additional kilometers around the southern tip of africa, a huge cost and potentially delaying delivery of goods by weeks. >> the ships that are stuck throughout the canal and at the north end are in a precarious position. they may not be able just to turn around and take another course as long and expensive as it is to go from the mediterranean around africa and vice versa. reporter: the canal authorities say 20,000 ships pass through the canal last year, earning egypt billions of dollars in total revenue. the

regard the suez canal with a very special. it is a symbol of the nation some of the dependence of the center for egypt so sovereignty is a big issue when it comes to these things but in order to restore confidence in the canal operations there will have to be international had to rescue can actually hold the button so organizations are going down going down the track so embarrassing perhaps we don't yet know guy i saw you nodding along some of what james was saying there did you want to jump in yeah i think the most important thing is we do a full and thorough investigation to establish the facts exactly what happened and only then can we learn the lessons and maybe see if there was negligence or failure at some point but i think that's the most important point we don't know exactly what happened we've got lots of speculation at this point what we do know is the ship is stuck fast aground and really the focus at the moment must be on refloating air and getting that waterway open again mohammed what are the broader implications

the suez canal _ viability of the suez canal? the suez canal will _ viability of the suez canal? tue: suez canal will always viability of the suez canal? tte: suez canal will always be viability of the suez canal? "tte: suez canal will always be the viability of the suez canal? t'te: suez canal will always be the suez canal, no matter what. suez canal will always be the suez canal, no matterwhat. 0nce suez canal will always be the suez canal, no matter what. once it is clear to me see trade go through there. there may be differences in this. the irony of this all is that these huge massive ultra large container ships that you are seeing now are a result of the suez canal closing for eight years in 1968 — 1975 and shippers had to send their goods the long route around africa. they made their vessels bigger because it was more economical to put goods in a larger vessel then sell many small vessels. we are reaping that now in 2015 when egypt expanded the canal, they were able to handle these ultra large container vessels. to handle these ultra large containervessels. i to handle t

our route through the suez canal. we have now to see that more than $200.00 wessels awaiting more spoiled and sells bones. and trunk also assumes can. only being for an example. if it is possible that tomorrow the camel will again open it will take rob out for up to 5 days maybe more if it is possible to go again and are not always through the count so we have to consider as boat. of the congestion of the canal and therefore it might be. a good decision to go around the cape of coteau. then oh no occur additional costs because a longer trip will have impact on the cost of a wessel and a small it will occur a cost because long trip will have on consumer. reza no good solutions visible at the moment plus bret managing director of the german maritime center thank you so much thank you. let's take a look now at some of the other global business stories making headlines. britain and the european union have agreed to cooperate on financial services regulation the deal will create a framework for voluntary cooperation and es

our top stories experts say it could take weeks to dislodge a huge container ship blocking egypt's suez canal some 200 other vessels are waiting to enter what is one of the world's key shipping routes other ships are now taking a much longer route around africa prolonged closure of the suez canal will impact global trade. u.s. president joe biden says china's shooting paying and russia's vladimir putin are among 40 world leaders he's inviting to a summit on climate change biden has made climate a top priority for his administration the virtual summit is planned for april. france bears a moral responsibility in the 1994 rwandan genocide that's the conclusion of a report commissioned by the french government some 800000 tutsis were killed in just a few months then the report found that france under then president francois mitterrand was quote blind and slow to respond but it cleared france of any complicity in the slaughter this is do you know you news from berlin you can follow us on twitter and instagram d w news and visit our website. with rising new infections in germany beating back

jews regard the suez canal with a very special. it is a symbol of the nation some of the dependence of the center for egypt so sovereignty is a big issue when it comes to these things but in order to restore confidence in the canal operations there will have to be international had to rescue can actually to be hokey but haven't so organizations are going down going down the track so embarrassing perhaps we don't yet know guy i saw you nodding along some of what james was saying there did you want to jump in yeah i think it's the most important thing is we do a full and thorough investigation to establish the facts exactly what happened and only then can we learn the lessons and maybe see if there was negligence or failure at some point but i think that's the most important point we don't know exactly what happened we've got lots of speculation at this point what we do know is the ship is stuck fast aground and ready to focus at the moment must be on refloating air and getting that waterway open again mohammed what are the broader i

the suez canal can always be the suez - the suez canal. the suez canal can always be the suez canal, | can always be the suez canal, you will always see trade go through there. there may be differences in this, but these huge massive ultra large container ships that you're right now are a result of the suez canal closing for eight years from and from a long route around africa, they made their vessels bigger because there was more economical to put goods in a larger vessel than sale many small vessels and we are reaping that now in 2015 when egypt expanded the canal, we are able to handle those ultra large container vessels. there is a lot of blame to be focused on here due to the ship operator, the pilots were navigating this vessel and there is a lot of issue at play here. we will not know until a full investigation is done. the headlines on bbc news. the international community has expressed horror at the killing of dozens of protestors by the security forces in myanmar — on what was the deadliest day since last month's military coup.

the high tides will help to insult a jeffords as well as well but i think it's fantastic news for the suez canal so the suez canal authority needs chips i think a really good job has been delayed by all involved 12 percent of global trade normally passes through the suez canal between the red sea and the mediterranean while the immediate crisis is over experts say the ever given as mishap raises long term questions about the canal sustainability is going to be a lot of head scratching and thinking not only about making supply chain more resilient but i'm sure a serious canal or thorazine is having a good hard think as well about how to make the the canal itself more about. the ever given is now in a wider section of the canal where it's being inspected for damage bringing an end to a crisis that's disrupted billions of dollars worth of global trade victoria gates and be al jazeera. is there and these are the top stories the world health organization and the leaders of 23 countries including the u.k. france and germany are calling for an international treaty to tackle future pandemics that

jews regard the suez canal with a very special. it is a symbol of the nation some of the dependence of the center for egypt so sovereignty is a big issue when it comes to these things but in order to restore confidence in the canal operations there will have to be international had to rescue can actually be horribly but haven't so organizations are going down going down the track so embarrassing perhaps we don't yet guy i saw you nodding along some of what james was saying there did you want to jump in yeah i think the most important thing is we do a full and thorough investigation to establish the facts exactly what happened and only then can we learn the lessons and maybe see if there was negligence or failure at some point but i think that's the most important point we don't know exactly what happened we've got lots of speculation at this point what we do know is the ship is stuck fast aground and really a focus at the moment must be on refloating air and getting that waterway open again mohammed what are the broader implication

the port of suez. it happened early tuesday, and tugs have been trying to refloat the ship since. the ever given, registered in panama, was en route from china to rotterdam and was passing north through the canal on its way to the mediterranean. i'm joined now by dr salvatore mercogliano, a maritime historian at campbell university in north carolina and former merchant mariner. what do you make of this situation? it is an unusual situation, it is a very dire one, the largest vessel ever to go to ground in the suez canal, she has gone sideways, blocking both north and south passage. huge ramifications for global trade, especially between asia and europe. trade, especially between asia and europe-— and europe. you said unusual, how unusual? _ and europe. you said unusual, how unusual? the _ and europe. you said unusual, how unusual? the last - and europe. you said unusual, i how unusual? the last grounding in the suez _ how unusual? the last grounding in the suez canal _ how unusual? the last grounding

. >> the container ship that has blocked the suez canal has re-floated. it could still take days to clear the backlog of ships queuing up on eier side of the canal. those are the headlines. next up, "inside story." ♪ mohammed: the cargo vessel blocking the suez canal is set free. the disruptions cost billions of dollars in trade. so how long will it take for business to resume on one of the world's busiest shipping lanes? and can another mishap like this be avoided? this is "inside story." hello, and welcome to the program. i am mohammed jamjoom. a major disruption to global trade is closer to being resolved. salvage crews have refloated the ever given, a container ship that's been wedged across egypt's suez canal for nearly a week. it created a major traffic jam on the main shipping route between asia and europe. billions of dollars worth of trade has been lost. experts are now trying to move the vessel so other ships and tankers can finally pass. alexi o'brien reports. reporter: finally on the move, the ever given, being towed down the sewers canal af

we have the suez, that congestion likely to start easing. fresh lockdown fears antivirus fears in europe. and what does opec-plus do? let's get more to the block trade, with mark cudmore and sing tomorrow. i was just -- mark cudmore in singapore. you maintain this is likely going to be more toward individual names and less contagion across the entire market. mark: that's the initial sign. it's a fascinating story, the size and scope of what we have seen so far in terms of these margin calls and the block sales have been incredible. i think there are still more strands to the story and we have to see what happens with some of the other banks involved, whether there are funds in similar positions that are forced to unwind. i think the story will run and run. but is it the turning point of more of a market contagion? i don't think so. the initial price action on friday has been positive. we saw the s&p 500 surged by 1.6% in the last hour of trading on friday to close at a fresh record. this is not a market showing much worry about this. there h

well in many ways this this event was brought on by the last closure of the suez canal include suez canal closed during 1968 and you had the ear closure for it the maritime industry had a route around africa and they started developing these larger vessels of what we call economy of scale let's put more cargo on a single vessel instead of across several vessels the suez canal was expanded in 2015 to specifically to handle a vessel like the every given and again our economy we demand you know low cost transportation and the way to afford that is by creating these larger and larger vessels and the question is was this passage of the ever given through the canal prudent at the time if they had concerns about high winds as the company is saying then the pilots on board should have been aware that they should have taken the vessel into the canal it vess was only about 5 miles into the canal at the time. very complicated stuff there dr south america yeah no i thank you so much sir for enlightening us thank you. and we say in egypt where at least 32 people have been killed and scores more injure

our top story at this hour experts say it could take weeks to free a container ship blocking egypt's suez canal over 150 other vessels are waiting to pass through the shipping lane. for world news at the top of the hour coming up next e's colleague stephen beardsley with business news stay with us. more than a 1000 years ago europe witnesses a huge construction boom. christianity for leased out wish to sell. both religious and secular leaders or to display their power. a huge race began to. create the tallest biggest and most beautiful structures. is how massive churches are created. conscious to defeat roles starts april 12th on d w. $10000000000.00 a day at last global trade that's the cost of a jet off in the suez canal look at efforts to free the massive container ship and the decisions facing shipping companies caught in the pileup. also on the show zimbabwe says inflation has fallen a small bit of good news for the nation's weak currency or to normal zimbabwe it's a find out. close welcome to the show i'm sick. well a giant freighter ever given remains stuck in the suez canal tightl

our top stories experts say it could take weeks to dislodge a huge container ship blocking egypt's suez canal some 200 other vessels are waiting to enter what is one of the world's key shipping routes other ships are now taking a much longer route around africa prolonged closure of the suez canal will impact global trade. u.s. president joe biden says china's xi jinping and russia's vladimir putin are among 40 world leaders he's inviting to a summit on climate change biden has made climate a top priority for his administration the virtual summit is planned for april. france bears a moral responsibility in the 1994 rwandan genocide that's the conclusion of a report commissioned by the french government some 800000 tutsis were killed in just a few months then the report found that france under then president. was quote blind and slow to respond but it cleared france of any complicity in the slaughter this is do you know you news from berlin you can follow us on twitter and instagram d w news and visit our website. with rising new infections in germany beating back the pandemic is proving

you know what is moving in the suez canal? wind is blowing at a pretty nice pace, 15 miles per hour, which is above average for this time of year. ships are only allowed to move at about seven piles per hour -- seven miles per hour through the canal. wind is a part of the problem at the first place. strong winds blew up a dust storm that made it almost impossible to see and then the ship got stuck. this highlights not only supply chains, but also, the importance of the shift in the way the world gets its energy. with more power coming from increasingly cheap wind farms and solar parks, it means that people will not have to worry as much about the suez canal in the future, at least in terms of how they get their energy. joe: the entire world absolutely transfixed by this ship that is stuck at the suez canal anyway, and i do not recall any story like this in recent past. joining us now is mark levinson, he is author of the book "how the shipping container made the world economy smaller and the world bigger." thank you for joinin

the suez canal opens up a 7000-kilometer route from asia to europe. around 30% of the world's shipping volume transits through the canal daily. the stuck ship is costing the global economy billions as trade is delayed and desperately needed goods cannot be delivered. >> they are doing what they can, but the 400 meter long container ship won't budge. diggers are at work alongside a vacuum excavator, which could suck up to 2000 cubic meters of sand per hour. experts on when the vessel could be freed vy fr a few days to a few weeks in the worst case. >> what i uld exct to start seeing soon if they are not successful, the next best optn is to lighten the vessel, which is to move other vessels next to the ship and start offloading cargo. >> a lengt salvage process would have wide reaching effects. oil prices have already risen due to the many oil tankers caught in the traffic jam. supply chains could also be affected because of missing parts. >> it is an aolutely essential part of our modern life. this webcamould not be able to reach me without modern ship

complaints that have come through the suez canal that's daily. and we've seen what happened now you have ships stacked up on either side of the canal and they can't get anywhere so what can they do what are their alternatives at the moment. the alternative at the moment is to bite the bullet and save the long way around africa that is easier for the vessels that are not get caught in the queue the vessels that are just now departing north europe or asia for example some of those have already now divert it they bypassed to the mediterranean and are heading for south africa it's going to take them a week longer it's going to burn a lot more fuel but that's basically the only other viable option what about the reason that this ship got stuck in the 1st place can gusts of wind blow such a big ship sideways because that's what the owner of the ship said happened. i have a hard time seeing that that should be the only reason if that was the only reason we should have seen this happen many times before it is a no a normal common occurrence that you have

eaten;r the suez canal every day. every ear, the suez canal every day. every year. it's _ the suez canal every day. every year. it's over _ the suez canal every day. every year, it's over a _ the suez canal every day. every year, it's over a trillion, - the suez canal every day. every year, it's over a trillion, and i the suez canal every day. every year, it's over a trillion, and its| year, it's over a trillion, and its fuel, its fuel, as medical supplies, everything. so it's such an intractable waterway —— integral. already, there will be all ongoing delays of ships going into ports and potentially delays of consumers, so let's hope it gets cleared quickly. the longer it goes on, the more difficult it becomes.— the longer it goes on, the more difficult it becomes. when you've not a difficult it becomes. when you've got a make _ difficult it becomes. when you've got a make a _ difficult it becomes. when you've got a make a ship _ difficult it becomes. when you've got a make a ship like _ difficult it becomes. when you've got a make a ship like thi

the port of suez. it happened early tuesday, and tugs have been trying to refloat the ship since. the ever given, registered in panama, was en route from china to rotterdam and was passing north through the canal on its way to the mediterranean. earlier, iasked dr sal mercogliano a maritime historian at campbell university in north carolina how often an incident like this occurred it is an unusual situation. a very dire one. this is the largest vessel ever to go aground in the suez canal and she has gone sideways on the canal blocking both north and south passage. it will have huge ramifications for global trade especially between asia and europe. use unusual, how unusual? last time is back in 2017. the ship are smaller but she was able to pull herself along side the back that this vessel was heading northbound when she lost all power meaning she lost her propulsion and steering. she is now gone aground. her bow was on the east side of the embankment and it is high enough up that you can see the bow st

now when a ship enters the suez canal, egyptian pilots get on and guide it. but the captain of the ship has ultimate authority over the actions taken in the pilot room. what is clear is that these ships are a challenge when going through the suez canal. keep in mind, michael, that since 1956, the width of the canal in that area has been doubled, and it's still tight for a ship the size of the ever given. now between 2014 and 2015, egypt did this massive project under the direction of president abdel fattah al sisi to create two lanes in the suez canal, but they didn't do it in this area, which is closer to the mouth of the canal in the red sea. they didn't do it because it was a gargantuan effort in the first place, very expensive, but perhaps they might reconsider the possibility of expanding the suez canal in that area as well to avoid this sort of problem the future. but what is clear is that something has to change in terms of just the size of these ships, how they get through the canal. you know, i think there is going to be a lot of post-game thinking a

sally nabil, bbc news, suez. i'm nowjoined by dr sarah schifflin, senior lecturer in supply chain management at liverpooljohn moores university. it is good to have view with us. what is the cost of this, can we put a figure on how much this is costing? $5 a figure on how much this is costin ? �* , l, , l, costing? as we have 'ust heard, it is billions of h costing? as we have 'ust heard, it is billions of trade _ costing? as we have just heard, it is billions of trade held _ costing? as we have just heard, it is billions of trade held up - costing? as we have just heard, it is billions of trade held up every l is billions of trade held up every single day. it is a huge effect on the global economy and it is affecting a lot of different supply change. we do have fuel tankers, a lot of oil going through the suez everyday and also a lot of container vessels and we have bulk cargoes, so that will be grains, coal and that sort of things. it does affect us us very, very widely. pare sort of things. it does affect us

the suez canal is still blocked. attempts have failed to dislodge the massive container ship that has run aground, causing delays through one of the most important world waterways. 180 ships are now gridlocked. it is costing about $400 million every hour. the rise of china makes nato even more important, corn to secretary-general jens stoltenberg. many members are picking up defense spending. >> reaching 2% by 2024, which is the fine line. yes, we still have some work to do, but we are seeing significant progress, and i welcome that and we expect that to continue to convey to the nato allies. laura: global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries, this is bloomberg. anna? anna: thank you very much, laura wright with an update. europe's troubled vaccine rollout will be on the agenda of a summit with e.u. leaders today. a thawing of relations with the u.k. despite tougher relations -- tougher restrictions on vaccine exports. u.

. >>> the situation in the suez going from bad to worse. officials saying it may take weeks to free the ship freezing up billions of daily trade. >>> anger high on the hill tensions flaring in the latest hearing on social media. lawmakers grilling ceos are misinformation and lies. pushed to the people on their platforms. >>> president biden pushing for states to get 200 million doses in the arms of americans in his first 100 days as cases pop again. >>> and warren buffet's berkshire after the deadly blackout it is friday, march 26th, 2021 this is "worldwide exchange. ♪ come on ♪ come on ♪ take it ♪ ♪ take another little piece ♪ >>> good morning good afternoon good evening welcome from wherever in the world you may be watching. happy friday i'm brian sullivan thank you for joining us to end the trading week let's get to the markets and your money and how it is all looking to end the week in futures. we are looking good. stock futures are higher across the board. dow futures up 118 this follows a nice turn around from yesterday th

well in many ways this this event was brought on by the last closure of the suez canal in the kloof suez canal closed during 1968 and you had the 8 year closure for it the maritime industry had a route around africa and they started developing these larger vessels of what we call economy of scale let's put more cargo on a single vessel instead of across several vessels the suez canal was expanded in 2015 specifically to handle a vessel like the ever given and again our economy we demand you know low cost transportation and the way to afford that is by creating these larger and larger vessels and the question is was this passage of the ever given through the canal prudent at the time if they had concerns about high winds as the company is saying then the pilots on board should have been aware that they should have taken the vessel into the canal it vess was only about 5 miles into the canal at the time. very complicated stuff there dr south america ya know i thank you so much sir for alighting us. thank you. and we're saying egypt where at least 32 people have been killed and scores more

the suez canal and angela merkel -- free of the suez canal. and angela merkel threatens to federalize germany's covid response. numbers nicus continue to climb ash numbers in icus -- numbers in icus continue to climb. we are kind of going sideways. i think the action it's going to be later in the week. is going to be interesting to see whether the archegos story fades or continues to be an

kate: shipping has resumed in the suez canal. the delay has cost billions of dollars to companies and egyptian government. >> after a mammoth rescue effort, the ever given is again on the move. the giant container ship had become wedged in the suez canal, blocking traffic in one of the world's most important shipping channels, causing a backlog of more than 420 boats. this has highlighted the ability -- vulnerability of global supply chains. >> factori pull supplies from the warehouses and the warehouses were filled and allowed to deplete and now these floating ships are the warehouse. >> it caused a colossal amount of disruption. the blockage held up an estimated $9.8 billion worth of cargo each day, including around one million barrels of oil. egypt has lost out on 12 or $14 million in daily revenues from shipping tolls. the canals -- canal's remote location made it difficult for the operation to salvage. >> the difficultys you are in the middle of noere, stuc with a vessel and no equipment nearby. that is the big challenge. >>

>> the blockage of the suez canal shows the complexity of global trade. we should be paying attention to who will beeld accountable for this major accident which is not only affecting train but the lives of people around the world . amy: hopes are rising that the suez canal in egypt may soon be reopened after a 200,000-ton container ship was partially reflted. it is the size of the empire state building on its side. we will speak to laleh khalili, author of "sinews of war and trade: shipping and capitalism in the arabian peninsula". then we will talk to ucla professor robin dg kelley about the historic amazon unionization drive and the history of radical black organizing in alabama. the aman workers beemer are lding the most consequential neighbor campai in the century. if youhink about i if ts predominantly black mostl female labor force can win union recognion from the wor's mo powerful corporation and antiunion south, workers can win anywhere. amy: we will look at the trial of former minneapolis police officer derek chauvin for killing george floyd las

this is d w news live from berlin said back in the suez canal operators fail in their latest bid to refloat a stranded cargo ship diggers treasures and tug boats have been trying to free the vessel for days hundreds of ships are now stuck in a maritime traffic jam causing a major headache for global trade also coming up. tragedy on the tracks at least 32 people are killed and over 100 more injured as passenger trains collide in egypt. and heartbreak in boulder in the u.s. a colorado community comes together in grief following monday's deadly mass shooting. i mean nice of welcome experts are warning it could take weeks to dislodge a huge container ship blocking egypt's suez canal a new attempt to refloat the vessel was not successful and efforts have been suspended till saturday a prolonged closure of the suez will almost certainly affect global trade which has already been hit hard by the pandemic. the ship plugging the choke point that funnels 30 percent of the global seaborne trade 400 meters long and weighing more than 200000 tons the ever given has become an immovable barrier shutting d

the cargo vessel blocking the suez canal is set free the disruptions cost billions of dollars in trade so how long will it take for business to resume on one of the world's busiest shipping lanes and can another mishap like this be avoided this is inside story. hello and welcome to the program on how much enjoy him a major disruption to global trade is closer to being a result salvage crews have refloated the ever given a container ship that's been wedged across egypt suez canal for nearly a week it created a major traffic jam on the main shipping route between asia and europe billions of dollars worth of trade has been lost experts are now trying to move the vessel so other ships and tankers can finally pass alexy o'brien reports finally on the move the f.a.a. given being towed to down the sewer was canal after being stuck for almost a week. celebrations began before dawn as the massive container ship was 1st personally refloated. back your mother said that a despite an international rescue a fit the vessel had been waged across the waterway which is one of the busiest in the world. s

the port of suez. it happened early on tuesday, and tugs have been trying to refloat the ship since. the ever given, registered in panama, was en route from china to rotterdam and was passing north through the canal on its way to the mediterranean. the vessel's owners says the ship was blown off course by a strong gust of wind. i'm joined now by carl schou, ceo and president of wilhelmsen ship management. welcome to the programme. for our viewers around the world put in perspective how critical this is. . , , ., this is. there has been a blockage _ this is. there has been a blockage for _ this is. there has been a blockage for nearly - this is. there has been a blockage for nearly a - this is. there has been a. blockage for nearly a day. this is. there has been a - blockage for nearly a day. yes. thank you. well, it is, as you said, it is blocking the canal so what we will see now is that the number of vessels will be waiting for the canal to be cleared up so we will see a lot of delays in shipping mov

we will focus on the suez story also coming up. for the moment, let's get up-to-date with some of the top corporate stories we are covering. here is laura wright. laura: hong kong is set to be targeting its third backs listing -- back listing by the end of the year. sources say it expects to have its own listing framework ready this june. it is racing with singapore to become the first asian hub to greenlight the investment vehicles. they plan to tighten rules that are currently enforced in the u.s. video streaming service bilibili is the latest chinese firm to disappoint on its homecoming. shares fell on its debut in hong kong after a global selloff. in his first interview, the ceo says he expects explosive growth in online video. >> i think video eyes asian -- i think videoization will be big in the next three to five years. i believe all internet users will become video users. that means the market will be in high speed growth for the next several years. laura: that is the bloomberg business flash. anna: thanks very much, laura

just how important is the suez canal to egypt? obviously this has cost them money and perhaps some prestige. >> reporter: well, in 2020, the suez canal brought in $5.6 billion for egypt, which is not even 2% of its gdp. but symbolically, it is hugely important. it really puts egypt on the geostrategic map. keep in mind, for instance, back in 2011, '12, and '13 when there was first the revolution, then the coup d'etat here in egypt. there was real concern, for instance, by the united states about the closure of the suez canal, and the united states has always tread carefully with egypt regardless of what's going on here because of the suez canal, because of its strategic importance. and, therefore, you know, when this canal closes, it's a major crisis. 12% of world trade passes through the suez canal every year. 30% of container traffic passes through the suez canal. it makes $13 million to $14 million for egypt every day. that's not a lot of money, but keep in mind that $10 billion of trade passes through the suez canal every day,

will this morning, -- that ship still stuck in the suez. that could mean other tankers and chips going around the southern tip of africa. the dollar in poised to have a gain in the week. euro-dollar remains with the weakness of the virus and the vaccine. president biden doubled down on vaccines, targeting 200 million doses by the end of april. >> by my 100th day in office, two had head -- ministering to hundred million infrastructure, both physical and technological. >> china is investing three times more in infrastructure than the u.s.. we are not looking for confrontation, although we know there will be steep competition. we will have strong competition but insist china played by international rules. >> joining us is the senior partner. president biden's first formal press conference, doubling down on vaccine dosages. we were able to get through the 100 million pretty quickly. you think 200 million is ambitious enough? >> he is under promising and then over delivering. it is a smart tactic. it allows him to show he is meeting his goals an

and the lead with among the largest container ships in the world and its stock currently in egypt's suez canal blocking dozens of ships efforts are continuing to dislodge the ever give and the ever given rather owned by transport firm evergreen before further disrupts the global shipping system the suez canal provides a crucial link for oil natural gas and cargo being shipped from east to west around 10 percent of the world's trade flows throw flowed through the waterway and 2015 egypt completed a major expansion of the canal allowing it to better accommodate the world's largest vessels or the ever given ran aground before that new portion of the canal . can't go forward can't go back to the 400 metre long container ship the ever given has wedged itself between the eastern and western banks blocking the canal completely the ship's owner evergreen says a 50 kilometer an hour gust of wind shoved the ship into the canal wallace bow and stern 420-0000 ton vessel is believed to have partially run aground now much smaller tug boats are trying to heave it free. so it's going to be very difficul

the suez canal is something we take for granted. we don't think about how stuff gets to us, we order it online and it arrives. when it breaks and in this case we have the suez shut down effectively, there are real implications. i asked the atlanta fed chief if he's worried about this and here's what he said -- >> if this were going to go on for weeks and weeks, i think you could actually see some pretty significant disruption in goods provisioned, but from what i read, be that's not where we're going to be. we will see temporary spikes, but they will be only temporary and i'm confident we will return to more equilibrium pricing as quickly as possible. >> so timing is everything here. if this blockage of the suez canal happened last march, i don't really think there would be nearly as much concern because the economy was effectively in free fall due to the pandemic. people weren't buying as much. they certainly weren't traveling. gas prices were low, oil prices had gone negative. people weren't traveling. so it wouldn't have really h

~ , ., suez canal. for now, thank you, stehen suez canal. for now, thank you, stephen askins. _ suez canal. for now, thank you, stephen askins. just _ suez canal. for now, thank you, stephen askins. just saying - stephen askins. just saying that we have been keeping a very close eye on this, as you can imagine, since tuesday last week so when we get more updates as to when this huge container ship will actually be on the move, it has been successfully refloated and we shall let you know. but let's move on. two households or groups of up to six people are able to meet outside in england again and the stay—at—home covid restrictions order comes to an end. 0utdoor sport facilities including tennis courts and golf courses are also reopening, and organised outdoor sports can resume in the latest easing. lisa wainwright is chief executive of the sport and recreation alliance. good morning to you, lisa. just talk us through how outdoor sports facilities are gearing up sports facilities are gearing up today

we have seen it with the suez maxes, the larger ships that can go through the suez canal, they are having to go through africa. really, time will tell. those ships who are currently waiting in the red sea, they obviously want to get out and try and push the evergreen away if they could. if they cannot they really are going to consider going all the way around south africa? if so, how long would that take them?- way around south africa? if so, how long would that take them? there are a few options — long would that take them? there are a few options they _ long would that take them? there are a few options they have, _ long would that take them? there are a few options they have, right? - long would that take them? there are a few options they have, right? one l a few options they have, right? one is wait it out, hope that egypt and any other governments involved there can dredge the canal a little bit, they get a lot of high—powered horse powered tug boats to pull this vessel... just to give you a little context, this vessel is 400 metres long, four football fields, context, this vess

the cargo vessel blocking the suez canal is set free the disruptions cost billions of dollars in trade so how long will it take for business to resume on one of the world's busiest shipping lanes and can another mishap like this be avoided this is inside story. hello and welcome to the program on how much enjoy him a major disruption to global trade is closer to being a result salvage crews have refloated the ever given a container ship that's been wedged across egypt suez canal for nearly a week it created a major traffic jam on the main shipping route between asia and europe billions of dollars worth of trade has been lost experts are now trying to move the vessel so other ships and tankers can finally pass alexy o'brien reports finally on the move the f.a.a. given being towed to down the sewer was canal after being stuck for almost a week. celebrations began before dawn as the massive container ship was 1st personally refloated. back your mother said that despite an international rescue a fit the vessel had been waged across the waterway which is one of the busiest in the world. sin

and the boat afloat movement resumes on the suez canal. it's finally freed but could there be a lasting aftershock to global trade? just gone 9:00 a.m. in dubai, 6:00 a.m. in london. good day to you. the affair is a series of hear no evil, see no evil, ask no questions. if you didn't ask enough questions of your client, what size is that leverage then you perhaps some questions to seriously answer to the risk committee. good morning, annmarie. annmarie: good morning. what is so stunning about this is this jp morgan note saying we could incur losses -- the industry could incur losses of $2.5 billion to $5 billion depending on how hard it will come and how hard the industry will liquidate holdings. my big question alongside of what you are saying is ask no questions -- if this family office firm was able to amass leverage of five to seven times, who else was following a similar playbook? is this going to be more stories of rk ghosts unwinding? are we going to see similar in other hedge funds or family firms? manus: we also understand there w

traffic piling up on both sides of the suez canal. putting the growth supply chain at risk. >>> tech under fire as zuckerberg and dorsey and others head back to the hill. talking about disinformation and lies on social media >>> singling out spacs regulators are honing in on the rising risks to you. >>> could this be peak itcoin? looking to start its over cryptocurrency etf >>> it is thursday, march 25th this is "worldwide exchange. ♪ ♪ >>> good morning good afternoon good evening welcome wherever in the world you are watching i'm brian sullivan here is how your money and global markets are setting up for thursday it is early. futures could turn around. we say that all the time light volume et cetera, et cetera dow futures upt81 the major averages coming off lower sessions nasdaq hit in late-day trading following another 2% that is two down days in a row something to watch apple, amazon, tesla the names you know well up over a year. watch the recent move and see if the rotation from tech or growth to value rolls on. there is no bi

still much concern around suez canal and the blockage. still concern over the rollout of the vaccine in europe certainly something that we are very much focused on here in europe. in terms of the oil story, that is something that could also have an impact on european equity markets. we see european equity markets opening to the upside this morning. that is as the eu gives its guarded support to a plan to restrict some vaccine exports. let's talk now to iain stealey, j.p. morgan asset management international cio for fixed income. very good morning to you. if we start with a slightly more european focus, given we have had this news around vaccine rollout and vaccine exports, what is your expectation for growth in the euro zone now given what we know about the vaccine rollout, what it can achieve and given what we know about the extension of various lockdowns that have been introduced this week? iain: i think when you look at europe, you have probably got to make an assumption that some of the really strong growth that we were expecting to

i want to begin this hour with welcome news out of suez, egypt. crews have been working to dislodge the ship from the canal. cnn just obtained this video, and that appears to show the stern of the ship away from the suez bank, and it got stuck a week ago and has been blocking the canal every since. ben wedeman is live. i want to go to you first. what do you make of the good news, at least the good signals and messaging we are getting out of the region? >> reporter: well, it does seem that on the seventh day there is movement. we just heard the chairman of the suez canal authority saying that the ship has been shifted, he says 80%. it appears the stern has been moved away from the western bank of the suez canal. clearly the waterway is not free yet but this is significant progress. it happened in the very early morning hours before sunrise, and he did say that they are hoping to actually float and completely free the ship. around 11:30 is when high tide occurs. that's about 3 1/2 hours from now. when that happens they are hoping to move the ever gi

>> the blockage of the suez canal shows the complexity of global trade. we should be paying attention to who will be held accountable for this major accident which is not only affecting train but the lives of people around the world . amy: hopes are rising that the suez canal in egypt may soon be reopened after a 200,000-ton container ship was partially refloated. it is the size of the empire state building on its side. we will speak to laleh khalili, author of "sinews of war and trade: shipping and capitalism in the arabian peninsula". then we will talk to ucla professor robin dg kelley about the historic amazon unionization drive and the history of radical black organizing in alabama. the aman workers beemer are lding the most consequential neighbor campgn in the century. if youhink about i ifhis predinantly black mostl female labor force can win union recognitn from the wor's mo powerful corporation and antiunion south, workers can win anywhere. amy: we will look at the trial of former minneapolis police officer derek chauvin for killing george floyd l

in the canal north of the port of suez. it happened early tuesday, and tugs have been trying to refloat the ship since. the ever given, registered in panama, was en route from china to rotterdam and was passing north through the canal on its way to the mediterranean. earlier, iasked dr sal mercogliano, a maritime historian at campbell university in north carolina, how often an incident like this occurred. it is an unusual situation, it is a very dire one, the largest vessel ever to go to ground in the suez canal, she has gone sideways, blocking both north and south passage. huge ramifications for global trade, especially between asia and europe. you said unusual, how unusual? the last grounding in the suez canal was 2017, a smaller ship than the ever given, but she was able to pull alongside the bank. this vessel lost all power meaning she lost propulsion and steering. she has now gone aground, her bow on the out an she is lodged. they have been trying to pull her out and they have been unable to do that, ships are piling u

that goes through india which has an impact on the suez canal. it will start to proliferate to sellers and buyers around the world. >> clay, you and i have talked offline the last couple days and i have spoken to others. i'm actually a little surprised that it hasn't moved prices more and i think that is a reflection of the oil market is changing. if this is occurred eight years ago, impact would have been much broader. u.s. oil situation sort of semi independent. shift from west to east. this altered the oil markets that is muted the impact, has it not? >> i think that's right. structure reasons and tactical reasons why oil prices and crude prices have not moved more on the disruption on a pure basis, less than 2% of crude moves through the suez canal. the biggest from the persian gulf is in asia. that is not involved the crude oil from the persian gulf and west with, they go the long way around africa on a good day with no blockage the crude oil is middle east to europe european demand is still low with the pandemic. you have supply offsets lik

vessel was not successful and efforts have been suspended until saturday a prolonged closure of the suez will almost certainly impact global trade which has already been hit hard by the pend epic. this ship plugging the choke point that funnels 30 percent of the global seaborne trade 400 meters long and weighing more than 200000 tons the ever given has become an immovable barrier shutting down egypt soon as can now with around $10000000000.00 in trade at stake every day diggers tugboats dredges and a team of dutch ship salvagers are working day and night to do what has been quite strong demand. and yeah and i want you to know that the lay on top of everything out and. just how important and how the whole system is. more than $200.00 ships are caught in the world's longest maritime traffic jam some of them are now rerouting their journey around the cape of good hope it trip almost 3 times as long. the fear is that consumers will be noticing the delays before long the. biggest impact is that component parts for electronic chemical and engineering industries will not arrive on time. with th

jonathan: the suez canal. in the media everyone will go crazy about this, of the story is phenomenal, of the numbers are impressive. the numbers around it are always impressive. isn't this story the very definition of transitory? we will get excited about it, people talk about global trade backed up and then in a couple of days, maybe a week, it reopens and back to business and supply chain start functioning again. lisa: maybe. i think there is a bit of a difference this time around with the number of different supply chains that have been breaking down. you've got the semiconductor issues, this is yet another kink in a broader story of infrastructure breakdowns. i wonder how much this encourages people to change some supply chains and invest more in infrastructure. i wonder how much you will hear this kind of commentary from john. jonathan: i hope the fed chair is asked about this. want to turn to the fx market. it was brutal for anything but the u.s. bond reaching 10 year. the euro broke down. euro-dollar 1.

floods in tennessee our team is on the ground >>> a week after that massive ship became stuck in the suez canal, how crews finally got it free. >>> and the touchdown seen by millions and inspiring america. >> announcer: this is "nbc nightly news with lester holt. >>> good evening, everyone today a minnesota jury and millions of tv viewers relived the incredibly disturbing last minutes of george floyd's life the uninterrupted video of him while under the knee of a minneapolis police officer ten months ago shown today at the start of a televised murder trial of the now-former officer derek chauvin. prosecutors telling the jury it was not eight minutes and 46 seconds we were led to believe but rather nine minutes and 29 seconds that floyd was pinned to the ground they say floyd was murdered the defense suggesting drugs led to his death. we'll have full coverage of day one of the trial in a moment. >>> but we're also covering this candid moment today from the head of the cdc that gave us pause. i want you to hear it. >> i'm going to reflect only the recurrent feeling i have of impending doom

fears it could take weeks to move the container ship blocking the suez canal. a vaccine war will worsen a third wave of covid in africa were several countries have yet to receive any doses, plus. hundredslirotest against china's treatment of uighur muslims, as the foreign minister visits turkey. ♪ >> hello, and his first news conference, the u.s. president joe biden has set a bold new target in his fight against coronavirus. he has upped his vaccination goal to inoculate 200 million people by his 100th day after already meeting his goal of 100 million doses. he also says he intends to run for reelection in 2024 and he defended his handling of the influx of migrants, many of them unaccompanied children at the southern border, saying the situation there is already getting better. pres. biden: we are sending back the vast majority of families coming. we are trying to work out now with mexico and their willingness to take more of those families back to, but that is happening. they are not getting across the border. those who are cing across the border who are una