SQUAWK BOX, WEDNESDAY 1ST JULY, 2020

The US records more than 47,000 Coronavirus cases, hitting a new daily record, as White House advisor Dr Anthony Fauci warns infections could reach more 'disturbing' levels. It’s a mixed start to the second half in Asian markets after closing out a bull-run in the previous quarter. Meanwhile, U.S. Treasury Secretary Steven Mnuchin promises to extend up to $140bn in crisis loans for the hardest-hit industries. In corporate news, FedEx delivers a bottom-line beat, sending shares sharply higher after-hours despite a 50 per cent drop in profit. The US shipping group says it will not provide an earnings forecast. And in aviation news, Airbus has announced that 15,000 jobs could be cut in the wake of the pandemic but unions are threatening a showdown with the French aerospace company.