haidi: good morning and welcome to "daybreak: australia." i am haidi stroud-watts in sydney. we are counting down to the major market open. shery: good evening from bloomberg world headquarters in new york, i'm shery ahn. haidi:haidi: these are your top stories. indonesia's president slams richer nations for vaccine nationalism. in a narrative -- in an interview, he warns the pandemic will not end unless all countries are treated equally.

immunization campaigns could be hit by growing concerns over astrazeneca's covid shot. the eu regulator assigns a strong association between the vaccine and rare blood clots. u.s. stocks rise after the fed refrains from signaling changes in the bond buying program anytime soon. that as treasury secretary janet yellen stepped up her sales pitch for president biden's proposed tax code. shery: this is a picture across wall street. u.s. futures extending gains after fluctuating throughout regular session. we had stocks higher with the s&p 500 being led by communication as tech stocks are falling from secretary -- falling from highs as secretary yellen said she would raise corporate tax rates. we see that move into mega cap tech stocks. small caps under pressure. the 10 year yield moved back toward the 170 level. oil losing ground. reversing those gains we saw during the regular session, when we had more optimism over the

reopening's here in the u.s. let's see how we are setting up across asia. here sophie kamaruddin in hong kong. sophie: i want to highlight a quick update on trip.com listing that it is aiming for in hong kong. . it is offering 31 million shares at 333 hong kong dollars with that trading expected to begin april 19. when it comes to asia, the aussie dollar holding on to lawsuits while we see city stocks set for gains with the futures climbing for a fifth straight session. climbing to a record high. elsewhere, we could be looking at a mixed session and continuing that after we saw the midweek session seeing high stocks slump amid rising inflections. while asian shares did rise as the are b.i. pledged to stay accommodative to see through lockdowns. vaccine shortages have been an issue for india and elsewhere, including australia where flipping the page, inoculations

are on track to top one million doses by today. supply issues, vaccine acceptance has been a problem. and as our colleague points out, hesitancy may provide a key signal for traders when it comes to how to divide the leaders versus the laggards as we see divergence. independent -- in japan, the slow rollout is worried in the face of rising cases which has hit a two month high, which may prompt stricter virus measures in the city. haidi: federal reserve chair jay powell's devilish of you on an incomplete economic recovery won the day at the march meeting. let's get more from those minutes. our policy editor kathleen hays is with us. this is really what the markets continue to hear, that the data is coming positive but the conditions remain -- remain accommodative. kathleen: i guess they do.

they know the fed will not take the punch bowl away. that is a classic expression. i think there are a lot of questions about when the fed will decide it is appropriate. some people are worried about financial stability and overheating. nevertheless, the main thing is hey, substantial progress, jay powell. the minutes echo there's. we need to get closer to those goals. the economy is making progress. they even said that further progress in meeting the riffs on monetary and fiscal support. not worried about it causing inflation, they want more. if you look into the minutes, it is basically a glass half empty view of the recovery. they boosted their forecast for growth, unemployment. but the virus is, including the covid variants, still poses big risks to the recovery. . are they worried about inflation? no, it inflation is balanced in both directions. even with firmer financial

conditions as bond yields rise, it is very accommodative. then commercial real estate, this is very interesting. the pandemic is raising concerns, is anybody going to come back to those offices downtown? commercial real estate, is it a risk some people are worried about when the forbearance, all of these programs. so that landlords can let their tenants stay there without paying. if those stopped, what will happen to those? ? that is another thing looming over them. two things happened since the meeting three weeks ago. and that was the 6 trillion total now of stimulus hitting the economy this year. there was a jobs report, a million jobs created in the month of march. people are saying more of the same. . an economic boom is upon us. will the fed look at that and recognize that as well? shery: the white house's push for a global minimum tax on corporations seems to be picking up steam. what do we know? kathleen: we know joe biden,

janet yellen heard around the world today at the imf, they said that wealth and corporate taxes can help pay for the virus recovery. richer nations, you can afford to pony up some money. the g20 is pledging to make progress on global and corporate tax steps, hikes come after the u.s. is making these proposals. what may remind you, the key almonds we have to look at with the made in america tax plan. raise the corporate tax rate from 21% to 20%. . the other thing is you encourage a global minimum tax. why is it so important? if the u.s. starts raising its tax rates and imposes higher burdens on u.s. companies, a global minimum tax would help companies in other countries from having an advantage. you can see that is why this is so important. if i could just add that right now, the corporate tax revenues have fallen to 1% gdp.

they were to present. that is another reason where people are saying this is low hanging fruit. it is covid, the pandemic, the need to recover, besides the sense of equity, that is driving these plans forward. shery: global economics and policy editor kathleen hays. . we can see the different corporate tax rates for individuals as well as for the government. we can see that for corporations, the rate has trended lower. you can actually learn more about the tax push and the fed minutes in today's edition of debris. . bloomberg subscribers, go to dayb . also available on mobile in the bloomberg anywhere app. as we speak, breaking news. we are hearing from the cdc director rochelle walensky saying the vaccines could be expanded to 12 years old -- 12-year-old children starting in may. speaking to abc instagram live, cbc director walensky saying the

pfizer vaccine could be available to children 12 years old as soon as may. moderna could be available by the summer. the united states has been leading the world when it comes to the vaccination campaign. more than 30% of the u.s. population already vaccinated. that goal has been also extended, and absence the biden administration came in. now the plan seems to be to lower the age of eligible people to 12 years old as soon as may. let's get over to bond 8 -- two vonnie quinn with first word headlines. vonnie: thank you. jamie dimon says he is optimistic the pandemic well and with u.s. rebound quickly last at least two years. in his annual shareholder letter, he says economic conditions are likely to result in a boom that may run into 2023. he also warns that while lenders are benefiting from u.s. stimulus, disruptions by technology could shrink the role of traditional banks in the

financial system. the eu is pushing for a response to its regulator finding of "a strong association for the vaccine and blood clots." the u.k. drug regulator issued a warning about the astrazeneca ja b, advising people under 30 to seek a alternative. it developed an off -- in oxford and continues to tout its global rollout. the cdc has confirmed to the u.k. covid-19 variant is the u.s., overtaking the original virus. despite rising cases across the country, new york announced it will reopen beaches in time for memorial day, and public pools will open the following month. tokyo is preparing to impose new restrictions to match virus control measures currently in effect in osaka. the governor says a decision

will come after hearing experts opinions on the matter. . government officials say if the request is made, they will probably consider it. that as they get set to host the summer olympics. . japan says so far, more than one million people have had at least one vaccine shot. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: indonesian president has slammed richer nations for vaccine nationalism, saying the pandemic will not end unless all countries have access to the shots. indonesia has had to slow down the inoculation drive due to receiving fewer acts -- fewer supplies than expected. speaking to arco anger, the president, also said there was no need to reach 7% economic growth this year. >> to simplot -- it depends on

vaccine supply. if vaccine supply is in line with the schedule we made, the vaccination will be completed at the end of the year. due to supply, we have only vaccinated 4000 people at the end of march. if the vaccine arrive starting at 70 million doses per month, we will be able to inoculate one million doses per day. > when will you get your -- where will you get your vaccines from? even india is holding onto it supply of astrazeneca. >> that is where the problem lies. . there are several delayed commitments. . but still committed at a great volume. this is why i'm asking world leaders to prevent what is called vaccine nationalism. we must give it access to all countries. . poor countries, developing countries, developed countries must be given equal treatment. if not, the pandemic will not end. >> vaccination is key to indonesia's economic recovery.

given the pace of the vaccination you are seeing now, what assumptions are you making about the gross potential for indonesia for this year? >>ll countries is vaccine. we believe if the vaccine is successful, economic growth will follow. i think the trust of the business world, the economic world is very important. if we are successful in upholding protocols, this will have an impact on economic growth and economic recovery. >> so it is 5% growth this year, 7% growth possible for gdp? >> for 2020, we know indonesia's growth was at -2.1%. if we can pay with member company -- countries, indonesia is well-positioned. if we look at the effort, we are very primed as well. very careful. our deficit is at -6.1% of gdp.

deficits and other countries are at -15%, -14%, -10%. . i think we are very careful and managing the economy. >> 7% growth this year. >> we expect 4.5% to 5.5%. >> you have always pushed for lower rates, in one of our earlier conversations, you said you want interest rates to go down, down, down. currently, the rake in indonesia is 3.5%. the lowest on record. are you happy with where rates are right now? >> they are at high percent -- high levels. now i 3.5%. people are happy. the business world is happy. at the end of march, it was at a better position from before the pandemic. at 53.2. fully optimistic that if we can

subdue the pandemic, we can continue with the vaccination program in the economy will recover. haidi: indonesia's economic recovery is still very fragile. there is a lot of pressure on the indonesian repair. is there risk perhaps that the central bank would have to raise rates because the currency is under pressure? and also because it is rising in the u.s. and they have to move in tandem? >> indeed. it does not just depend on domestic factors but external factors. countries impact each other. policies and the u.s. also impact other countries, including indonesia. it is why managing the economy is very important. i talked before on fiscal deficit. . we are very careful and the deficit is small compared with other countries. have maintained the prudence. also on the monetary policies carried out by bank indonesia. shery: indonesian president

speaking exclusively flea with bloomberg markets's's coanchor haslinda amin. don't miss another exclusive conversation ahead. benjamin joins us at 10:30 a.m. in sydney, 8:30 p.m. in new york. haidi: coming up, we have the australian trade and tourism. our guest joining us in the next hour. . we will talk about the travel bubble with new zealand. vaccine exports from the eu and the relationship between camera and beijing. we have breaking news. further developments on the troubled astrazeneca vaccine. spain is limiting the astrazeneca vaccine patients over the age of 60 years old. that is according to reporting from the associated press, limiting the dosing of the astrazeneca vaccine to those 60 years and older. this comes as we have developments when it comes to the linkage between the covid-19

vaccine from astrazeneca and these rare blood clots. the eu is pushing to form an alliance to respond to the links, and seeking really to forge a coordinated european approach. we have seen reactions from various governments and regulations around the world. this as astrazeneca's shot is key to the vaccine rollout in a number of different countries, including here in australia. spain is limiting the dosage of that vaccine to those 60 years and older. we have lots more ahead. this is bloomberg. ♪

>> we are working with g20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom. >> here in ireland, we have corporate tax rates. at this point in time, the principle of the global minimum

tax rate, we do have reservations about it. we want to hear all of the views. >> there is an increase on the vaccinations. we have proposed 12.5%. >> the part of the usa gives this initiative a seriously deciding tailwind for that maximum tax rate that i put forward, along with my colleague. > there would be a safety net which would make sure that profits come into tax havens. . or if they are in tax savings, one country would take the difference up to the minimum level of taxation. we have a blueprint which is ready and growing, building on the blueprint. i think we can have that by the summer. >> there is a unique window of opportunity to have a new international taxation system

which would be more efficient and fairer. >> if we want a real recovery from the covid crisis, we need spending for public good, by governments, and to have this, we have to stop the race to the bottom on corporate taxation. shery: global leaders on the global minimum tax push, as g20 pledges to reach a consensus on new rules by midyear. here in the u.s., we saw stocks closing in the green on wednesday. but they did fall off session highs as investors digested the details of the potential new corporate tax codes. let's discuss the broader market applications with nicole webb. senior vice president and financial advisor. always great having you on. this gtv chart on the bloomberg showing how since world war ii, corporations have been paying less and less taxes as compared to individuals. is it time already for investors to be digesting what it would

mean if we do get a new corporate tax system, how that would affect cost and perhaps earning results? nicole: yeah, i really like this conversation. especially launching today on a more global platform. it was interesting in the u.s. equity markets, they did not overly react. i think a lot of that has to do with the fact that going into earnings season again next week, there is so much good on the horizon. when we look at expectations, the amount of momentum in the market, wall street did not really overreact today. i think that signals strengthen the economy and a belief that we can handle higher tax rates, and almost a little bit of logic in that someone has to pay for the debt and the debt service outstanding because of covid. that was not unique to the united states. that really is happening worldwide. nicole: as we have -- shery: as we have this, where do

you find the opportunities when everyone seems to be jumping in at the same time? nicole: that is a really great question. this year has been interesting. ever since the acceleration of the vaccine back at the beginning of november of last year, we have seen this rotation back into value. a little bit of the slowdown in those mega technology companies. i think where investors are starting to go back towards technology as we have seen over the last couple of weeks, is they are getting curious about what really has the likelihood of real growth, 18 to 24 months out from now? as we are seeing these recovery traits play out, we see going back toward technology platforms and the monster mega tech companies. but also, i'm encouraging investors to start looking at what can help you beat those inflationary expectations,

specifically looking at companies with price power. so who has the ability to increase their prices while maintaining their consumer base going forward? haidi: ahead of the u.s. climate summit, we are hearing the biden administration may double the climate pledges, the emissions pledges made under the obama administration. if this accelerates, what further opportunities do you see in another leg up when it comes to green energy, carbon free energy related, and infrastructure related investments? nicole: i'm actually quite pleased to see the amount of spending happening. i think companies like bp are taking an early and active stance to be looked at as an energy company going forward, to diminish the past of being an oil-producing specific company. . and making larger scale

investments into solar and wind, for example. we have seen such -- seen so much progress in this alternative energy spaces in terms of efficiencies. does efficiencies have led to profitability. without getting too speculative in these smaller grassroots green initiatives, one can look to the larger conglomerate and give them accolades for the investment they are making into the future of energy. haidi: when it comes to buying opportunities, as perhaps we see stocks starting in the rotation for tech, the big names there as well like amazon? nicole: yeah. i think what we will continue to see, and i would like to draw this back to some of the earlier comments about an increased corporate tax rate, it is going to be really challenging to be in a higher rate environment and a higher tax environment for some of these smaller to start up a technology companies. which gives us a little bit of

forward phot about continued consolidation in technology. we are also seeing the infrastructure within the sticky ecosystem, like apple, like amazon, who have the ability to invest more in cloud specifically. i think all of that gives a little bit of wind and sales again for these major tech companies. haidi: nicole webb with wealth enhancement senior vice president. great to have you with us. we have more to come on "daybreak: australia." this is bloomberg. ♪

haidi: let's take a look ahead at the day and australia and new zealand. australia's labor party is calling for a review of the objective and fiscal monetary policy possibilities. this is in response to economic weakness ahead of last year's possession. this comes as we continue to monitor the rollout of the vaccine.

more than 700,000 astrazeneca doses were secretly flown into australia from the u.k. amid the ongoing blood clot concerns. our big interview in over an hour's time here we are speaking to the trade and tourism and investment minister, to talk about the travel bubble, much more.

vonnie: you are watching "daybreak: australia." u.s. treasury secretary janet yellen expects president joe biden's proposed corporate tax plan to recoup to truly dollars in overseas profit in the next decade. she says the plan to raise taxes to 28% would be fair to all americans. and remove incentive for u.s. corporations to shift assets abroad. indonesian president's backing a push to expand the central bank's mandate. he believes it should include bolstering the economy, throwing public support, which some

analysts believe it is risking its independence. speaking to bloomberg, he said bank of indonesia should not just manage the currency, but should also support the sustainable growth and job creation. >> they work at high levels. 8%, 7%. now i've 3.5%, people are happy. the business world is happy. the most important thing is how we can improve demand and consumption and exports. we saw that at the end of march, it was at a better position from before the pandemic. at 53.2. over the pandemic, it was just 51. now at 53.2, fully optimistic that if we can subdue the pandemic, we will continue with the pet -- the vaccination program, the economy will recover. vonnie: president joe biden putting pressure on republicans to support his infrastructure plan. he is urging congress to work

quickly. speaking from the white house, he called it a blueprint for the future saying it is vital in order for the u.s. to stay competitive with. . china. republican lawmakers oppose the plan which is seeing opposition from democrats. pres. biden: you think china is waiting around to invest in this digital infrastructure? or research and development? i promise you, they are not waiting. but they are counting on american democracy to be too slow, too limited, and too divided to keep pace. vonnie: meantime, the white house has squashed speculation confirming it is not assessing a joint boy scout of the 2022 beijing winter olympics for the allies. tensions between the u.s. and china have been heightened over beijing's human rights records. chinese officials say a boycott would harm the interests of athletes, and run counter to the spirit of the gains's charter --

games' charter. that is double the previous target set by the obama administration, and would require a dramatic change in the power of transportation and other sectors. the goal has not been finalized but it is expected to be unveiled before president biden hosts the climate summit later this week. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: as we have been discussing, regulators in the u.k. and e.u. have issued a warning about astrazeneca's covid vaccine, acknowledging a link to a rare blood clots. they maintain the benefits outweigh the risk. >> the benefits of the astrazeneca vaccine in preventing covid-19 overall outweigh the risks of side effects. the reported cases of the -- unusual blood clotting following

vaccination with the astrazeneca vaccine should be listed as possible side effects of the vaccine. haidi: let's go over to our health care reporter, michelle cortez. there is lots of different factors at play. is the astrazeneca -- if the astrazeneca shot stays, is it safe enough that there are other options? michelle: i think you have honed in on exactly what the issue is. and that is how safe is the vaccine? any vaccine we have it potential risks. there does seem to be some kind of an association between these very, very rare clots that occur in the brain. we are talking about 79 cases out of 20 million in chelation's. . the risk is very low. the problem is that with coronavirus, we know you are

getting the vaccine in order to prevent yourself from getting an infection. you are not trying to treat something. you might not ever get infected. so our tolerance for any risk on a preventative like a vaccine is very low. on the other hand, if you do get coronavirus, you have a much more significant increased risk of being hospitalized or dying from the virus then having the blood clot. so one of the things you have to weigh out. how safe is it? ? it will depend on what other options you have and what the risk of you developing coronavirus is. that is something that will have to be decided on a person by person, country by country basis. we are seeing some countries put restrictions around who should get the astrazeneca vaccine because of that. shery: when we first started to have this conversation about potential vaccines a year ago, we talked about how important the astrazeneca shop was. it does not need to be refrigerated, it is cheaper than the pfizer and moderna vaccine. how significant is this latest

news? michelle: it is absolutely a blow to especially the developing world. because the covax program from the world health organization is relying on the astrazeneca vaccine to reach many of these developing and middle income countries. and a lot of asia is relying on it as well as europe. the fact is that this is the only vaccine that we have seen any kind of a concerning bullet. again, i would say it is a very low rate of risk. that still nonetheless, it is real. i do think it will have an impact on people's hesitancy. there are going to be concerns about getting a vaccine, because you don't want to take any risk at all. that being said, again, with the risk of actually getting infected with coronavirus, we are hearing from regulators around the world that the benefits of the vaccine that do outweigh the very rare risk. hopefully it does not have much of an impact. i do believe people will be

concerned about it. haidi: what is the best knowledge and data we have as to whether the vaccines are effective against a new variant, which is becoming more prevalent? michelle: we are getting news of additional variants coming up every day. these are variants of concern and variants of interest. that means it is not just something that is happening, as always does with viruses, as they multiply. you see these changes happening. but there is a handful that are very significant. . and we are getting reports that vaccines are a little less effective, particularly against the south african variants. the main one we are seeing is the one that came out of the united kingdom. it does seem like it does transmit more easily and it is more virulent. but the vaccines do appear to be effective against that. the south african one is the variant of concern. we are not seeing a lot of a fact. we are seeing reduced effectiveness against that.

it is important to get on top of this before it gets even more widespread. shery:shery: our health care reporter michelle cortez there. the imf managing director saying the global economy will be $9 trillion richer by 2025, if the vaccine rollout is accelerated. speaking exclusively to bloomberg's's tom keene, she said rich countries needed to step up their support. >> what we need from developed countries to support developing countries is a recognition that this is a multi-speed recovery. and that countries that entered this crisis with limited physical space, with more vulnerabilities and currently have less access to vaccines, need to be supportive for the benefit of the world. today, the g20 gave its blessing

for a new $650 billion allocation. this is one concrete way in which we can use the strength of the 190 members to support those that are in a more difficult position, by boosting their reserves. tom: divergence is the word of the moment. in your financial stability report, which i read each spring meeting, you speak about an asynchronous and divergent moment. we have an asynchronous and divergent pandemic. all of us focused on the challenges of brazil and indeed, the unique challenges of india as well. maybe that is a turf of david malpass on the world bank. but what can the imf do to assist these nations beleaguered by covid? kristalina: first and foremost, we provide clear and compelling

cases for accelerating vaccinations everywhere. the world economy is going to be $9 trillion richer between now and 2025. if vaccinations are accelerated and if countries like brazil and india are in a position to do more to get out of the health crisis. and of course, the front has been there for the most vulnerable members with significant emergency financing. we still have a large capacity, should conditions be such that our members need more from us. tom: i must ask, who pays for this? the heritage of this debate in the united states is the u.s. taxpayer picks up a very large share of imf financing. tell us within the new regime

that you perceive for your international monetary fund, how this transfer of aid to less developed countries will occur? who will pay for it? kristalina: fortunately, the imf is structured to take advantage of 190 members. and that means that what we project is a unity that lifts up the conditions for growth everywhere, and that of course benefits the u.s. economy, when it comes down to sdr's, the good news is that it costs nothing to taxpayers. why? because what they represent is truly a way for the imf to provide a reserve asset at no cost to its members.

and more importantly, when you look at the cost benefit equation, when the rest of the world is doing better, that translates through the transmission line of economic relations in the u.s. doing better. and vice versa. now that the u.s. economy is recovering faster, it has a positive spillover on the rest of the world. haidi: the imf managing director there. coming up, jp morgan ceo jamie dimon sees rebounds to the u.s. economy that could last until 2023. . we get more on the takeaways from his annual letter to shareholders next. this is bloomberg. ♪ shareholders next. this is bloomberg. ♪

shery: jp morgan ceo jamie dimon says he is out the mistake -- he is optimistic that the pandemic will end with a rebound that could last two years. in his letter to shareholders, he says the boom could easily run into 2023. for more on the takeaways, we have finance reporter hannah 11. this was a long letter. 60 plus pages or so. let's start with his outlook on the economy. what did he say? hannah: thank you for having me. it was 66 pages.

his longest ever. which is big for the long year 2020 was. he gave a very bullish view on the recovering from the pandemic. he cited stimulus and savings that consumers have an quantitative easing and infrastructure bill. and also just vaccine euphoria around land of thought and -- the pandemic. i could lead to a boom that could run into 2023. it was a very optimistic view. haidi: want where the comments he had about the competitive landscape for banks more broadly? hannah: that was an interesting one. people around the industry have been talking for years about the rise of fintech. and big tech companies trying to get into finance. and really today, jamie dimon declared fintech and big tech are here. . he said big time exclamation

point. it was very clear that that is here. he gave a very detailed look at the landscape and how that has happened. and voiced how jp morgan has to work to stay ahead of it. he said they intend to do so. he also telegraphed that acquisitions are in jp morgan's future and that could mean something like a fintech. shery: he also waded into politics and the geopolitical landscape. what were the key takeaways? hannah: he did. despite mitch mcconnell's warning to ceos to stay out of it on monday. he talked about -- he really described the past year, and the pandemic, the murder of george floyd, and all about adding up to this tipping point for the u.s. he cited inequality, and the

need -- he listed out a bunch of things, a bunch of dishes he sees such as immigration and health care, and what his views are on what should be done on it. haidi: our bloomberg financerep. let's get our morning calls for the day ahead of calls from the start of trading. sophie kamaruddin is in hong kong. you are watching under depreciation. it has shown that not much concern. what is the outlook here? sophie: take a look at the bigger picture. we have seen the yuan raised to gains as of march. this as we see more hiccups ahead for the currency, given china's yield premium to the u.s. has compressed, in the face of the economic rebound is seen moderating while picking up in the u.s. bloomberg intelligence putting a bullish reversal forming for the dollar.

ocbc saying we could see the u.n. drop to 660. the depreciation is looking to be temporary, with ocbc expecting it to be steady in the second half as the dollar's rise is seen as losing steam. shery: to caps for philippine stocks are the worst performers in asia this year. what is the outlook? sophie: the pse certainly under pressure. down percent year to date, in the face of rising cases that has put manila under lockdown. dimming the outlook for shares which have been dumped by foreign funds where the country has seen in lagging other recoveries. let's pull up the index. we are focusing on the philippines. over at ab capital, they see more downside risk, saying the benchmark could fall as low as 6000 if the lockdown fails to curb the infections. over at commercial banking, you have robert ramis saying ps c will likely not fall beyond 6300 6400 points in a light -- in

light of a law cutting corporate taxes. shery: don't miss a big interview ahead with the philippine central banker. he will join at 10:30 a.m. in sydney, 8:30 p.m. in new york. plenty more ahead. this is bloomberg. ♪ his is bloomberg. ♪

haidi: cbc says cruises could

return by mid-summer with restrictions as after one of the world's largest cruise operators, carnival, threatened to relocate ships out of the market. the ceo spoke with carol massar a route -- about the rules and when he thinks ships will be sailing out of the u.s. again. >> the cdc last october issued a conditional sale order and they came out in phases p the first phase was bringing ships back into u.s. waters. primarily with minimal crew on board. we finished that phase of it in terms of having it ourselves. 30 ships that are currently in green status. they issued april 2 the next phase. frankly, what has been issued does not give us a specific time to be able to return, and also was not workable in the current form. again, it just came out. we have an opportunity to discuss with the cdc and the administration to make sure we

do have something that is workable. . and hopefully, that will allow us to be able to set sail in july. we are hoping it will be something more in line with the advancements of vaccines that has occurred and the rapid advancement of vaccines that the administration has been so successful with. as well as the advancement in treatments and at -- and rapid testing, none of which existed when the sale order was written. we are hopeful we will be able to meet with the administration and cdc and come up with something practical. and will allow people to return to their choice of vacation travel and get a lot of americans back to work. half a million people were impacted in the u.s. in terms of jobs associated with this industry, and cruise companies themselves. carol: it affects a lot of other jobs and industries connected with the cruise industry. one thing i've got to ask you,

how much of carnival threatening to relocate their ships to other markets outside of the united states do you think was the reason for the cdc change? it was just a few days ago they came out and were still kind of holding firm. what happened, what were the conversations that may be you and other members of the cruise line industry had with the cdc? arnold: there was no threat or anything. it is just a practical reality. if we are not able to sale from the u.s., we would have to sale from elsewhere. some of the ships would homeport port. a number of companies have already announced home porting ships that would have been sailing out of the u.s., home porting from different places in the caribbean. it is not a threat. it is just a natural outcome of not being able to sail from the u.s.. i'm not sure anything has changed. i have not heard directly from the cdc or administration that anything has changed. i think they generally believe

the information they put out might allow some limited sailing as early as july. we will have to discuss that with them, our timeline. but maybe we don't understand everything. the cdc has a job to do. they are trying to do their job. as long as we work together with the cdc and the administration, we can all get cruise back soon, and we can get it back in a safeway way in the interest of public health. and we can have all those half a million workers no longer suffer from not being able to earn a wage. haidi: that is arnold donald speaking with bloomberg's carol massar. let's get a check of the business flash headlines. . the australian securities and investments commission has a civil penalty proceeding. alleging the bank sold insurance in 2015 two over 380 customers who had not requested or agreed to by the policies dating back to 20 15. west bank has acknowledged the

proceedings and says it is considering these claims and will cooperate. . shareholders will vote on whether goldman sachs should publish a report on the impact of its policy for sexual harassment complaints on workplace culture. the bank is telling shareholders to vote against doing so, arguing it will result in -- many companies have abolished it. they held talks about clubhouse in recent months. sources say the companies discussed of the valuation of roughly $4 billion before the negotiations stalled. clubhouse is set to be talking with other investors in a funding round that would value it at the same amount. the app is barely a year old but has surged in popularity. amsterdam listed plans to raise as much as $14.7 billion from a block sale of tencent shares. it is selling a 2% stake,

reducing its holding to 29% while remaining the biggest shareholder. sources tell bloomberg that able cut its placement at the top end of the market range, around 595 hong kong dollars per share. that is a 5.5% discount for the shares last close. tencent backed online grocery startup is set to be weighing a $500 million u.s. ipo. are sources say the company is making preparations for an offering as early as this year. it's lending round in december raised more than $300 million. shery: the outlook for markets with state -- with emily wise who is with us. dan t hand joins to discuss the travel bubble with new zealand. and much more. plus, the global chip crunch. we assess ongoing supply chain issues with peter hanbury next. stay tuned for "daybreak: asia."

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♪ >> very good morning. we are counting down to asia's major market she -- >> indonesia;s president slams richer nations for vaccine nationalism. he argues for equal access to inoculation saying