haidi: a very good morning and welcome to daybreak australia. sophie: we are coming down to asia's major market open. shery: good evening from bloomberg's world headquarters in new york. the top stories this hour. goebel policymakers are pushing to ensure the g7 tax plan does not let amazon off the hook. new rules could target its cloud computing business. haidi: biogen shares soar after

the fda cleared it alzheimer's therapy. shery: u.s. recovers almost all the bitcoin ransom paid to the colonial pipeline hackers. investigators were able to track the digital wallet used for the payment. we are seeing u.s. futures muted at the open. this after the s&p 500 and the dow ended lower. they were surging toward record highs. we saw those inflation concerns creep back in. not to mention concerns about the corporate tax rate. we have the nasdaq biotech index closing at the best level since 2015. the best day since november of last year with the 40% jump in biogen. crude getting a 10th of 1%. rebounding from those losses we saw in the new york session. chinese oil imports also falling for a fifth consecutive month in

may. not helping sentiment. let's see how we are setting up for the asian market open. what are you seeing? sophie: we could see the asx 200 regain some ground back to record high. we are watching around the uncertainty of the predilections. we are much in biogen's partner in japan. otherwise, in asia, we are more sideways. this after the regional index has been treading water after claiming its 100 a moving average around a three month high. blackrock noting with momentum growing for a global tax. they are favoring country diversification. favoring asia equities with tech and health care preferred with cyclical exposures. haidi: let's get back to our top story. amazon is becoming a focal point

in the g7 tax plan. a bloomberg scoop revealing policymakers are crafting the international tax plan to make sure the e-commerce giant is included. that is displayed the profit margins being under the threshold to give other countries the right to collect. what to we know about what is going on behind the scenes to make sure amazon does not follow through this threshold and exactly why this company is a special case? >> it is a tricky question for policymakers because it is not a typical tech company that has a 30% profit margin. it is more like an online retailer that has a much narrower profit margin because it invests heavily in its business. while it has record revenue, that is not reflected in its profit. if you set a profit threshold,

it is not going to include amazon. policymakers on a global level are trying to figure out how to get around this policy question. shery: what are the next steps after that g7 statement? >> the g7 statement is kind of positive noises leading up to a g20 meeting later this summer. the oecd agreement is going to be where we expect to see some of these policy details including where the threshold is going to be set and how it is going to apply to companies around the world. haidi: we of course also heard from the oecd as to how this could be rolled out. they are the negotiators when it comes to the set of tax reform. take a listen. >> it is important to ensure that we strike the right balance. the outreach across the oecd, the average tax rate across the

membership at present sets at about 21 to 22%. there are some countries that are below the 15%. quite a few of them are above the 15%. if we are able to achieve a circumstance where all multinational companies operating globally are required to pay at least 15% on their profits, i think that is a significant step forward. haidi: that is the oecd secretary general. is this multilateral approach a good thing for tech companies particularly as you have different positions being pushed forward by the likes of france versus ireland? >> i spoke with a few industry groups that represent tech companies and with a few company representatives and they largely see this multilateral effort as a good thing because it would force some countries to remove

the digital service taxes that are hard for companies to comply with if they have lots of different unilateral service taxes. that is hard to plan a global operation. to have that kind of certainty is not positive for tech scum -- for tech companies. if you have a convoluted multilateral tech policy that is designed to target these u.s. tech companies, that could become problematic if it is not something applied uniformly across the economy. shery: you can get more on the global tax as well as a roundup of the stories you need to know to get your day going in today's edition of daybreak. bloomberg subscribers, go to dayb under terminal. let's see how all of this will be weighing on the market with the founder and ceo of roman investment strategies. great to have you back. the minimum tax rate for corporations, we have this from

the g7. we also need an agreement at the oecd. should traders start factoring this in or is this still an afterthought? >> it makes sense to consider it, but it has to get through the u.s. congress first as well as the other g7 countries. there are a lot of hurdles left to go over, but clearly, it seems -- it is worthwhile looking at corporations in general in terms of margins with cost inflation coming through, potential wage inflation coming through. now is the time for those companies to be able to reset their structures coming out of the pandemic when nobody knows exactly where the base level of their numbers are. shery: what will be driving the markets in the next few weeks? we are in day 11 of no one percent moves are greater for the s&p 500. >> i think we are relegated to

that most likely until we get into the second quarter reporting season, which happens starting in early july. it is not uncommon to have the summer doldrums where you do a lot of backing and filling. the fact we are flirting with all-time high is positive in that there is a lot of push may come up pull you news going on in the markets -- push me, pull you news going on in the markets, which is restful for a lot of people, to let it consolidate the gains we have seen year to date. haidi: you ponder on why the market is so confused and uncertain when it comes to the inflation outlook. janet yellen had said yesterday higher inflation is what we have been looking for in a world trapped by deflation in lot of economies. what is it about more permanent inflation that is put -- that is spooking investors?

>> the key is that people have read in books and heard in stories of how inflation was in the 1960's and 1970's, particularly in the 1970's and coming to the peak in 1981. a lot of us have not lived through that in real-time. a certain level of inflation is helping because it allows pricing power. it allows wage increases. it is a much -- when spooking investors is if we go into a high and sustained level of continued price increases. they are not sure how companies or businesses will react. it is important it is a very different economy we have now. it is much more information-based. much less manufacturing based like we had in the 1960's and 1970's. haidi: how do you hedge then and are you hedging for inflation?

what are your investment opportunities in that respect? >> i think the investment opportunities are -- when you are concerning with a portfolio in general, the import -- it is important to remember those kinds of returns are not normal in the long run. to get returns in the portfolios, particularly those -- endowments and other nonprofits need, they have to go further out on the risk contingent. to balance some of that, having the biggest income that can study that, it is a strategy where you are reaching for a risk to the extent you can absorb it with some private capital and hedge funds on the outside. just understanding the kind of returns we have gotten used to in the last 10 years are most

likely not going to be there and the next 10. understanding that and modifying expectations is going to be important. haidi: great to have you. still ahead on daybreak estrella, we will take a closer look on how global tax implications are paying out -- are playing out for tech giants. coming up next, biogen surging after its controversial alzheimer's disease therapy gets u.s. approval. our conversation with the ceo is next. this is bloomberg. ♪

>> you're watching daybreak australia. i'm su keenan with the first word headlines. vice president, lai harris has

warned central americans not to migrate to the united states. more than 200,000 migrants from the region have tried to enter the u.s. since the start of the year. president biden has asked sarah's to stem the surge in migration. airlines from britain and the u.s. have issued a joint plea for travel to resume between the two countries. airlines arriving into the u.s. allowing passengers to skip quarantine requirements. the latest push comes days before president biden is said to attend the g7 summit in england. global coronavirus infections are falling dramatically with the u.s. reporting the lowest number of daily covid-19 cases since march 2020. worldwide infections for the week ended sunday with the lowest for the last three months.

the u.k. says it is too early to say if the june 21 lockdown loosening will go ahead. the indian prime minister has announced free shots for all adults. it follows widespread criticism of his administration's handling of the virus wave. he is bowing to speed up the inoculation drive. his administration will procure the shots. new data points to wall street expecting more than 60% of staff to be back in the office in september. a survey by the partnership for new york city finds 14% are back already. real estate leads the way with a 70% occupancy rate and only 27 of the 180 companies surveyed plan to require workers to be

vaccinated before returning. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm su keenan. this is bloomberg. haidi: the fda has granted historic but controversial accelerated approval for biogen's alzheimer's therapy. biogen will need to continue research for the drug for it to stay on the market. it has faced skepticism from some scientists after mixed results. the therapy could dramatically change alzheimer's treatment. bloomberg spoke with the biogen ceo. >> nowadays, you have three treatments that have shown that binding characteristic said the -- characteristic to the blood that is toxic around the brain. we are able to penetrate the

brain and gradually remove the plaque. this is critical. there are three compounds. the next compound in the line is the one we have in collaboration that is 20 41 that is in phase three. the role that will be in a year from now. -- the rollout will be in a year from now. the fda has done an analysis of the entire data set. we had more than 2 million pages of scientific data being shared. >> i understand that. there is also pushback from some scientists who question whether emulate themselves are the key to solving alzheimer's. you have a drug that may be successful in targeting them. how confident are you that is

really the problem that needs to be solved? >> it removes gradually the underlying cause of the disease. down the road, there might be additional hypothesis. this, we think many years before we can see the scientific proof. as i was saying, today, you have three compounds with similar activity and we are the first one in the market. in a few years, they will be others. we invite them because the market is so large. >> talk to us about the pricing strategy. you were saying it is about $56,000 a year for the cost. for the average consumer including the multiple visits for a transfusion, required mri scans, what would it cost the average consumer? >> to get things in perspective, we need to consider the starting point is a 600 billion the

society is spending in direct and indirect cost on this disease only. -- on this disease in the u.s. only. it is planned to triple by 2050. it would be some investment finally on treatment, on diagnosis. i wish we had diagnosis soon. technology is racing very fast in that space and i hope that soon we will have also a blood diagnostics that will help. we need the broader population to have it in addition to the clinical diagnosis. >> do you think we will see other regulators look at the u.s. and fasttrack echo >> i believe so -- and fasttrack? >> i believe so. they are the ones that work the most on the global data set in two years.

respect working with the europeans, with japan, with australia, with canada, with brazil where the product is currently under review. our aim is to make the product available everywhere. shery: the biogen ceo speaking with romaine bostick, taylor riggs and alix steel. eli lilly rose. the nasdaq index finished the day up more than 3% at the highest level since 2015. we will continue to watch a sigh in -- watch asi in japan. you can see the u.s. after hours trading. coming up, the u.s. says it seized most of the ransom paid by colonial to hackers last month. we will tell you how.

this is bloomberg. ♪

shery: we were watching daybreak ghost really appeared we are seeing -- daybreak australia. we are seeing a little bit of pressure on the copper price. there are concerns about the demand outlook that mixed trade data we got out of china. when it comes to canola and soybeans, we saw the gains in the new york session. we have some weather concerns. we also have australia raising the canola output estimate by 20% from march. given the stronger pricing. we are seeing gasoline futures under a little bit of pressure. this after we sell enough strength the past week given this summer driving season.

haidi: in the u.s., authorities say they have recouped most of the ransom paid by colonial pipeline to hackers last month. that attack disrupted fuel supplies across the east coast. >> today, the fbi successfully seized criminal proceeds from a bitcoin wallet that darkside ransomware actors used to collect the payment from a victim. haidi: our white house cybersecurity reporter joins us. what to we know about the attack now? -- what do we know about the attack now? >> we know a group called darkside has been accused of carrying it out. we know the fbi -- the fbi managed to recoup some of the ransom paid by colonial, which was an attack that shut down much of the supply and led to the gas prices going up. this event showed how seriously

the u.s. is taking it and they have tools they can use to respond. shery: what do we know about the u.s. response to it? it seems to be the first signal they can track these payments. >> basically, we know that the u.s. was able to take some action in this case, to track the cryptocurrency, identify the digital wallet, sees the funds. people i've spoken to about this attack say it is a potentially powerful tool to address ransomware, which has become an increasing threat in the u.s. we have seen colonial was hit. after that, the meat processor was hit. it is becoming a problem in the u.s. and globally, and the government is taking some steps to try to address it. haidi: what other ways are we seeing the government handling these threats that are seemingly becoming more and more common? >> the u.s. has tried to signal

they are taking it very seriously. there are taskforces in the government. but this action in particular holds weight because it is the first time the u.s. has showed these criminals you can conduct this attack that is financially motivated and we have the ability to take what you were after, so it is not as effective as you think. we will see if it is at all useful in deterring future attacks. shery: our bloomberg white house in cybersecurity reporter. later, we will hear from one of the largest renewable firms in asia. here is a quick check of the latest business flash headlines. tesla shares --

shares fall by as much as 2.7% after ceo elon musk -- musk tweeted there is no need to offer the vehicle because the shorter version is so good. tesla had been taking refundable deposits on the car for month. $260 million after france agency says the tech giant abused its power. the agency says google unfairly sent business to its own services, discriminating against the competition. google says it will improve its ad manager's services for third parties. india's market regulators has barred franklin templeton for two years after investigating its foreclosure of credit funds. it has been ordered to refund

management and advisory fees. coming up, apple takes on zoom. we will look at how it is planning to do that and the other updates from its worldwide developer conference. this is bloomberg. ♪ wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. we know how much you count on us... ...and that's why we're here 24/7... ...and on the road maintaining a fast and reliable network. we're always working to ensure the internet meets your needs... ...by making access easier for all... ...with comcast lift zones and our internet essentials program.

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>> you are watching open -- watching "daybreak australia."i am su keenan. it reduces a protein. it will need to do more research to establish its benefits. the drug will cost $56,000 per year and it is the first fda approved treatment for alzheimer's in nearly 20 years. some scientists point to mixed

results in clinical trials. the u.s. meanwhile will discuss trade and investment talks with taiwan, advancing ties between the two economies. antony blinken told a house committee about the plan in response to a question from a kentucky lawmaker. it would revive a framework that has been dormant since the obama administration. u.s. relations are a thorn in relations between washington and beijing. israel's parliament speaker says they vote to approve a new government will be held in the coming weeks and that would end benjamin netanyahu's 12 year rule after israel's fourth election in less than two years. if the coalition is approved, nationalist -- will become president for two years followed by a centrist. sources tell us policymakers are crafting a global corporate tax plan to ensure amazon is included. that is despite the profit margins falling below the 10%

proposal threshold. amazon has estimated a seven point 1% global operating margin this year. one scenario involves focusing on individual operations targeting amazon's more profitable cloud computing business rather than the entire company. jeff bezos will go to space next month when his other company, blue origin, launches its first passenger carrying message and -- mission. he plans to travel alongside his brother, mark, saying he will be taking the greatest adventure with his best friend. it will be two weeks after bezos plans to step down as amazon's ceo. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am su keenan. this is bloomberg. >> apple kicked off its worldwide developer conference, previewing its next-generation iphone and mac operating systems

while adding a slew of new features. the tech giant looks to take on the likes of zoom in the teleconferencing arena. mark gurman has the latest. how is apple going to take on zoom? >> apple revamps the facetime app on all of its major devices and these features i think are fantastic. he will be able to schedule facetime calls. as you know, in zoom, the most popular way to add someone is to start the chat and send them a link and it will launch in the zoom at. now, apple is adding web integration for facetime so if i wanted to send you a facetime call, i could undo the link and you can jump into the call. these links will now work on non-apple devices so what you will be able to do is going a facetime call on an android device or from a windows product so it should be pretty nifty in addition to much enhanced microphone integration so you

can sound out background noise or there's also a control to add more background noise so you get the complete picture of where a person is in addition to enhanced video quality so overall, the biggest update to facetime i have seen since the product launched by steve jobs in 2010 with the iphone 4. haidi: we saw the ipad home screen get a bit of a revamp as well. mark: the home screen. widgets for the first time in addition to a revamped multitasking system so that should be pretty nice as well for productivity users on the ipad and something i have been looking forward to in particular. shery: what about the privacy features? mark: you have a new privacy menu to be able to access which data applications are downloading overnight so this is something that might want to scare facebook and other social media apps. i am looking forward to getting that another spin. >> lots of emphasis on sharing

as well as balancing out some of the privacy measures as well. mark gurman. let's talk further about the antitrust and privacy concerns faced by tech companies. a partner of greylock partners and formerly the senior vice president of commerce at google, great to have you with us. what is going to be game changing in this space as we see regulatory pressure when it comes to antitrust and privacy issues? let's i think the increased focus on privacy is just going to lead to the creation of a very different class of. it's hard to make it privacy friendly because there is so much money gathering information. i started the world's first ad free private search engine because i wanted to create a product that was completely worry free. you could use it and get the

best experience there was an not have any worries about what else was happening with your data. apple and other companies like that are pushing to develop products heading more and more in that direction. privacy and a focus on delivering for you. >> how does the increasing privacy pressures as well as the antitrust pressures we see -- how does it change the ad revenue model? >> that puts pressure on the ad revenue model. they are incredibly dominant in terms of how much advertising revenue that they make. they also give opportunities for companies to come in with a different business model and talk about how we are putting users first. you see apple doing this very

successfully. people buy apple's products because they are high quality and worry free. i think it's going to be an opportunity for quite a few companies because there is so much scrutiny and so much pressure on the ad supported monopolies. shery: where do you see the most concrete measures coming from when it comes to policymaking globally against all of these tech giants, whether it is in the privacy side of things or antitrust concerns? >> i think if you look at the u.s., for example, it is classic antitrust. the doj is saying it's fine for google to be a natural monopoly in search but it's not ok for them to have agreements with other players that potentially lock competition. so many of the early lawsuits that are coming here focus on that but i think the fact that

these tech giants are so big and the fact that they have this ad model which has a bunch of other externalities in terms of putting this information -- spreading racy content, that also comes into play. we will see a combination of both laws and regulations when it comes to those kinds of aspects but much of the early pressure is here in the u.s., very much on interpreting antitrust. shery: the minimum corporate tax rate discussed at the g7 includes actions against these tech giants. they include even amazon when it comes to those taxes. was that just on coming and how long do you think this will all take? sridhar: i can see this taking many years. to be fair to the tech giants, they have always said that we --

there have been many celebrated arguments about this. i think tax normalization is a great outcome for tax sheltering and things like that and let's face it, the big companies have the biggest amount of resources to throw out the problem so there is a loophole if there is a way to exploit current laws. they will find it. overall, it is a positive thing for all the countries involved. haidi: on top of the tax issues and antitrust issues, there's growing concerns from a regulatory perspective that the big tech have become too big, that their influence has become too powerful. is any of this a game changer, inflection point, in terms of how it affects innovation and just the position of these companies going forward? sridhar: companies have an

enormous influence on our lives. companies came into being because of a personal realization, for example. search was to dominated and there are other players like telegram and signal, for example that have a very different vetoes with a different set of principles. there is increasing scrutiny which makes it possible for there to be more competition, more options. i think that is actually a really good outcome for all of us. none of us minds the fact that there are all these streaming options because they are great options. the more we see that have been in social, shopping, search, the better off we are going to be and that is what we are hoping will happen. shery: sridhar ramaswamy, great to have you on, cofounder of the ad freezer start up. plenty more to come. this is bloomberg. -- cofounder of the ad free

start up. this is bloomberg. ♪

>> you are watching "daybreak australia." time for morning calls. the two strategists are seeing economic growth peaking tentatively as we have recently seen in the u.s. and in china. we saw trade data from a showing

a slowdown in the pace of export growth. inflationary pressures will likely persist so they are leaning towards upgrading health care and utilities to neutral while cutting discretionary's. at j.p. morgan, flipping the board, they are expecting that cyclicals will outpace that for the market, with equities and commodities seen delivering the highest return on the ongoing recovery. prices persisting into the second half. while the bank anticipates a wide divergence in the second quarter, j.p. morgan is seeing encouraging signals for a swing to 6.5% gdp growth for ems, including china. shery: we saw emerging-market currencies gain in the new york session but because we have brought dollar weakness across the region but we have seen the

mexican peso really react to sunday's elections in both countries. the mexican peso under a little bit of pressure after rallying in the new york session. this as the president and his party, they received a blow from sunday's elections and perhaps his nationalistic agenda with constitutional reforms may not go through. mexican -- falling to a record low as we saw him come in front of fujimori in that election so we are watching those assets very closely. haidi: we saw that move in the currency and assets tumbling as the partial results from that presidential elections showing he is taking a slight lead over fujimori. this is a rural school teacher who has been promising to redistribute wealth. he is vowing to save the country from "communism. got midterm elections happening

in mexico as well. let's get the latest from bloomberg's managing editor for latin america. what are the broad takeaway's, starting off with the peruvian presidential election and going through the midterm results as well in mexico? >> sure. in peru, we have basically seen -- we talk a lot about countries being divided and split down the middle. peru really is -- this is the second election in five years where we are seeing it literally go down 50% versus 50% so the votes are still being counted, as you said. fujimori led the count early on and now, as the votes trickle in from more rural parts of the country, pedro casio is now ahead. no one came out and declared victory. we expect this to go into tomorrow. clearly, investors are very

concerned about the policies for his economic policies and how that impacts their investments. in mexico, -- shery: the left is taking a hit this time around. daniel: exactly. investors were indeed hoping that and low -- amlo would knock at the two thirds majority in the house because they did not know what they would do if he got a super majority in congress and what sort of constitutional reforms he would pursue. they are ok that he got the majority. he said he was happy with the results. the opposition got some gains. everyone seemed to come away roughly saying they are ok with the results. haidi: what is the economic outlook in the meantime? daniel: well, peru corrected

almost 12% last year and we will not see them recover pre-pandemic levels this year. mexico may grow something like 7% or contract around 9%. so you know, most countries are not going to recover her to plead pandemic levels at the end of 2020 so you know, as you guys have seen, the numbers have really pummeled latin america both from a health point of view and economic stands and we are seeing some of that in how voters are reacting in some of these elections now. shery: we continue to see the vaccination rollout is pretty slow. coming up next, a rough ride for tesla shares as elon musk cancels plans for its model s and we will tell you why, next. this is bloomberg. ♪

>> we are highly sympathetic to diversity but we just don't want that to override merit. if i do that, i start to compromise the company's mission. that is not what our employees want from me. they are there for a reason as well. i will tell you from my own experience talking to many ceo's, all the names that you know, privately, we are of the same mind. publicly, they find it difficult to be that way.

shery: that was -- haidi: that was frank on bloomberg technology last week, implying that diversity should secondary to merit when it comes to hiring decisions. he faces first major backlash across silicon valley. he issued a statement apologizing for his remarks and promising a comprehensive diversity review at snowflake. he says he wants to personally apologize to anyone who may have been hurt or offended by my comments. the reality is corporate leaders like myself and companies like snowflake must fight daily to ensure that diversity, equity, and inclusion lead our thinking and actions. let's get you a quick check of the latest business flash headlines. it includes new features for photos, the digital wallet and notifications. apple announced a major new facetime tool, set to rival zoom

including the ability to schedule calls and send links to others to join a call. we have learned that the beers -- debiers cashes in on surging demand. the diamond industry has roared back to life after stalling during the pandemic. they have been replenishing supplies, allowing large producers to escalate prices. andy has -- said to be advancing plans for a $3 billion ipo. documents seen by bloomberg show the startup is asking employees to decide whether they want to sell stock in the offering and sources say it approved the offering plan in principle and could file a red herring prospectus as soon as july. it is seeking to raise $3 billion and that would make it india's biggest ever ipo. shery: tessa called off plans to build its model s, and in a

tweet, elon musk explained it is not needed becaujust so good. let's get to ed ludlow. after advertising on its website how good it would be, what is the rationale behind not doing it at all? ed: elon musk's point is at the base version is sufficient. he makes the point that there are not even that many gas cars that can do 400 miles with a full tank of gas. how many of us can actually drive 500 miles without needing to go to the restroom or grab a coffee? i certainly cannot. that is one reason behind it. the mission statement of tesla has always been to have a technological lead over legacy automakers, over other newcomers to the market, and they have maintained that. so there was negativity in the stock reaction today.

part of the is that you give up that technological lead but they also have other things they have to focus on, other products in the pipeline, and other core mission statements of making their base model, the model three, more affordable, and working towards that $25,000 base version. haidi: it is the latest in a string of negative news headlines from tesla. we are hearing that their head of heavy trucking, another major ambition for the company, has left. ed: he left as of june 3, last thursday, after the market close. he has been a mainstay of tesla's automotive engineering for basically a decade. he is one of just four members of the leadership team which includes elon musk who basically heads up the energy side of the business. there is high turn at tesla, big turnover. you see former tesla alumni at

gm and ford but he was one of the big ones. there was not much reaction in the stock after hours but there will be questions at the market open about why he left because he was only appointed to a new role to lead the semitruck development in march, relatively recently, so it is a surprise. haidi: i want to turn to jeff bezos. not amazon but blue origin. he seems to be headed to space next month. ed: it is incredible. jeff bezos and his younger brother and a lucky civilian passenger who will win an auction that has been held by a blue origin, will last off in new shepherd and carry the three of them in the capsule to around and hundred kilometers or 62 miles above earth, which is the internationally recognized boundary of space. a few minutes of zero gravity weightlessness, looking at the stars, and that hopefully, if almost a plan, they will travel back down terror safely through

parachute. it's important because in the race against spacex, virgin galactic, owned by richard branson, the majority shareholder, it could make him the first billionaire in space. you have to have a few dollars it seems to get into space, but what an accolade that would be. haidi: when you're competing with your buddies like that, friendly competition. he is stepping down just a couple of weeks as ceo before he goes to space. ed: he is. andy jassy takes over in the first week of july. it seems like bezos is moving into a new world of being focused on space. it is something he has put $1 billion into annually for some time now. he talked in an instagram post about it being a childhood ambition of his to go into space. that is just one side of the business. blue origin is fine with spacex for nasa contract to resupply and carry astronauts to the

international space station. they also have their own ambitions for spacex lake in and at one time, had ambitions for a similar satellite-based internet system. spacex has blown them out of the water in terms of the frequency of their launches, the contracts they have been able to win, including the lunar landing contract they were announced as winning in april. blue origin are not happy about that. they appealed the decision but it seems like spacex is becoming the premier private commercial carrier for nasa at this point in time but you have others. northrop and boeing waiting in the wings as well. shery: ed ludlow. coming up in the next hour, we take a look at the outlook for commodities with daniel hynes and the president and chairman of a company joins us to look at the prospects for alternative energy. do not miss our big interview later with edward yow.

that is it for "daybreak australia." "daybreak asia" is next. this is bloomberg. ♪

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shery: from bloomberg's world headquarters in new york, i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market opens. haidi: global policy makers are pushing to ensure the g7 tax plan does not lead amazon off the hook. new rules could target its cloud computing business. a company surges as the fda --