♪ >> good morning and welcome to "daybreak distro -- australia." >> and good evening from new york. i'm shery ahn. the top stories. opec alliance dissents into --

descendants into >> the s&p 500 in the longest winning streak since february. >> president biden scores a victory as the global tax overhaul gains consensus. we are seeing u.s. futures in the open. we continue to see the rotation into reflationary trades. tech underperforming again. data showing the price for materials climbed to a 42 your high. strong u.s. manufacturing numbers. the u.s. dollar index coming after the best month in a year. strength against all g10 currencies. oil under a little bit of pressure. after closing above $75 a barrel for the first time since 2018.

stocks under a little bit of pressure, but despite the pressure we are seeing, it is outperforming the s&p 500 in a big way. it all has to do with robinhood at the center of this first rebate turned a profit but we saw losses skyrocket. >> it was fascinating, pull the information under the hood. profitability was a theme. the company expected these lawsuits and customer snafus will continue. interesting, just how much of the business came off of crypto. about a quarter of their revenue trading came from does going -- one currency alone. let's look how it is in position

for friday. >> we are seeing some muted moves for futures as we wrap up a week of declines after the bounce back for the aipac index. we are seeing some upside moves. the focus very much on oil. we do have whi back about 75. along the curve, for immediate delivery, more than three dollars four months ahead. that is the widest gap since 2018. we have seen the sprint between bread narrow even further -- brent narrow even further. noting the temporal mismatch between the contract. citi expecting the trend will reverse. shery: let's get more.

talks blocked down after the uae blocked the deal. it seem like the two main drivers in opec-plus were close to a deal, but what happened with the uae? >> it was a little bit of last-minute unexpected drama. it came from the same place as last time. saudi arabia and russia did seem to have the outlines of the deal agreed to in which a slow and gradual increase was going to happen over the next several months. at the last minute, united arab emirates came in and said they would like -- this is a little bit tricky -- they would like to raise the baseline from which their additions, their supply hikes would be calculus it from. arguing from the first time that they agreed to these hikes, that they had less capacity.

now with expansion, they have more capacity. why is this important? it would mean several hundred thousand barrels a day more from just the uae. at the point they say they want more, other country start to say, why can't we produce more? it is the sort of wrench that comes in with everyone with the price higher, everyone wants a little bit more of a cut. shery: -- haidi: what are we watching for tomorrow's talks? >> saudi arabia and russia have with the opec-plus alliance try to show a unified front. saying they have this under control. everyone agrees in theory to

what steps need to be made. at the end of the day, it can come down to someone else coming in and saying i want this much more. it does sort of bring into question how under control is it? this was especially important last year when the pandemic was decimating demand and you had prices go below zero. it really required this type of unity to get that will industry back on track and to work through this massive glut. if that had not happened, you would not have seen the steady rise this year. prices up like 50%. that was a direct result. at this point, it calls into question, who is running the show over there? our senior correspondent logged earlier today at this point, it

would probably not be surprising if you had heads of state and crown princes working the phones through the night and intervening to resolve the impact. that is how important this is for them. haidi: the bloomberg energy trading editor there. you can read more about the opec-plus today in the daily edition of daybreak. lots more analysis coming up. gtb energy services jon grissom: is with us. -- services director is with us. companies have agreed to a minimum tax rate for international corporations. that has allowed for an implementation of the rules as soon as 2023. janet yellen calling at a historic day, saying the global

race to lower taxes is self-defeating and has deprived countries of important funding. >> i could not agree more with our treasury secretary. not just for economic diplomacy, but for fairness in the tax code. for an old -- multinational corporations paying their fair share. for the american worker to get their fair share out of a tax code. haidi: let's go to the federal reserve reporter. let's start off with the u.s.. what are the implications? >> it is a pretty significant step forward for the biden administration. they can claim a partial victory here in moving toward an international tax regime that will presumably helped stop the flow of companies moving their headquarters out of the u.s. and

putting them in low tax destinations. ireland or some other tax havens . there are many examples. the u.s. has been trying many tactics to try and stop a reverse -- try and stop the reverse of those losses. it comes with a loss of tax revenue. the u.s. is of course not alone. many countries have been rustling over this issue -- wrestling over this issue for years it must be added, there is a lot left before this becomes a finalized agreement. shery: those tax havens you talk about, some are in the caribbean. i spoke to the central bank governors of the bahamas who said they are having this uncomfortable conversation inside. they have to look at what the

impacts will be in the fiscal value sheet. they will make adjustments as appropriate for companies like -- countries like the bahamas with no corporate income tax were ireland with the low tax. how are they moving against this? >> these changes are not going to happen overnight. they do have time to plan forward. many companies will have little leverage. they will have to adjust to a new reality. there is an exception, even for small countries. if you are and they european union, you have quite a bit of leverage. ireland and hungary are going to come under a lot of usher. they have a strong position in that within the european union, for this to be implement it, it is going to require what is called an eu directive, a legal

act that requires unanimous support from all the member governments. that means they could effectively veto the implementation. which would be a major problem finalizing the whole global deal. the speculation they will come under a lot of pressure, they may get some compensation, some sort of carveouts for the incentives they have. that could be a very problematic hurdle. shery: federal reserve reporter chris condon with the latest. let's get over to vonnie quinn with the first world headlines -- vonnie: the world health organization has urged governments to recognize its standard.

any shot recognize for emergency you should be recognized by countries. that could challenge western countries to accept china's vaccine. which has been licensed by some countries but not others. lawmakers are pressuring china over alleged human rights abuses. senator jeff merkley and jim mcgovern urged a step up of potential violations. they say rights violations have not updated and are calling for immediate measures to assess and monitor behavior. ecb president says the region's lenders could see a cap -- they could be removed if economic and financial sector conditions do not worsen. last year, they issued a de facto ban.

the top organization -- trump organization and its longtime cfo have we did not guilty to theft charges. he is facing 15 charges from manhattan da. it is the first criminal case to emerge from an investigation into former president donald trump and his business dealings. neither trump nor his sons were named. global news, 24 hours a day. powered by more than 2700 journalists and analysts. i am vonnie quinn. this is bloomberg. haidi: still ahead, we will be discussing u.s. jobs data and shifting consumer sentiment. coming up next, one of the most high-profile listings of the year. inside robinhood's books as they file for an ipo. and revenue coming from crypto.

this is bloomberg. ♪

shery: markets have seen another record high. our next says growth are value -- or value is the wrong question and both can do well. great to have you back. this chart on the bloomberg showing how value has had its worst month against growth in 20 years. people can pull up the charts. wouldn't this then be the right question to ask? value or growth? >> i think it has gotten a little bit extreme. where we create a bifurcation. where one can work and one cannot work.

when we are talking to clients, the most important question is where are the opportunities in both areas. last time, we talked about both being oversold. there are pockets that looked very interesting at the time. right now, growth is looking overextended. when we look at the market as a whole, there are areas that are oversold. there are certain sectors where there are growth themes within information technology. the rollout of 5g. all of those themes are not going anyplace. they can go well moving forward. shery: the philadelphia semi conductor index underperforming. is there still room to grow here? >> i think there is. you look at equipment tech

companies, they are continuing to do really well. the backlog we have is presenting a lot of room for companies to continue to accelerate earnings. building out there capabilities moving forward. a lot of them are doing so in a responsible way. what that sets up his long term sustainable growth. semis as a whole have boom moving sideways but they look to break out. i.t. services as well. it looks interesting. if you believe the world economy is going to open, payment processes, particularly companies that have leveraged cross-border transactions, they have begun to pick up his nests. as a lot of people begin to travel again. haidi: that reopening in asia

has been a preoccupation in terms of the patching us of the vaccine rollout. where are you seeing opportunities in terms of that divergent? >> -- divergent? sion? >> we continue to believe europe looks interesting. japan has been an area that has not performed great but they are starting to roll out an aggressive vaccination campaign. you have the summer olympics. if japan can execute on its fx asian nation campaign, that sets the stage to more fully open up the economy and not worry so much about covid restrictions. japan is probably the one part of the international developed market i think is going to be next to see an acceleration and economic growth. which means a lot of sectors are tied to that.

haidi: what is your view of what happens to the u.s. dollar from here? particularly in the context of how it impacts asian and emerging markets? >> the u.s. dollar certainly surged and wreaked havoc in the commodity space. it looks like it has tried to move higher. i would not be surprised, if we get better news, we might see some renewed strength in the dollar. i don't think long-term that it is going to present significant headwinds. i think that is going to dominate investor sentiment. we have seen extreme moves.

the dollar is already embedded in a lot of commodity prices. haidi: great to have you with us. matt, portfolio specialist. robinhood has filed publicly for an ipo. it disclosed it became profitable last year before losses surged in the first quarter of 2021. let's get all the details. lifting under the hood, lots of interesting things we learned. >> there were a lot of takeaways from robinhood. it makes money and was profitable, unlike a lot of other companies looking to go public. it shows it has a host of issues, from big lawsuits to big regulatory signs to customer service snafus. certainly a lot to take in. one thing for sure, revenue has been going up a lot. it more than doubled its user

base last year. there is going to be a lot of growth here from robinhood. shery: this is really powering the crypto -- >> robinhood said 17% of revenue came from crypto. it is all in on this. it feels it is saving fees for customers because it makes it easier for them to trade crypto, which is not always the easiest, most straightforward thing to do. that is a growing area. we reported last week what was delaying robinhood's ipo filing was the questions around the crypto business. the fcc, the regulator in the u.s., is monitoring this really closely. they want to make sure no one is hurting consumers through this new market. >> we are seeing new scrutiny from regulators. leanna baker.

coming up, the trump organization's longtime cfo pleads not guilty to a tax fraud scheme. we will have the details next. this is bloomberg. ♪

shery: the trump organization cfo has pleaded not guilty in the first criminal case to emerge from an investigation into former president trump and his business dealings. let's get more from peter jeffrey. what are the charges they are facing right now? >> grand larceny. including some charges for one, some for another. they include grand larceny, tax fraud. falsification of his next records. -- business records.

shery: give us a picture of how these came about. >> the manhattan district attorney has been investigating the trump organization. it started when michael cohen turns out to have paid hush money to stormy daniels. and so cohen said allen weisselberg helped arrange for that hush money to be put through. as the investigation deepened, the district attorney began to look at all kinds of other things about the trump organization, including whether it exaggerated the value of its assets for loans it sought. or minimized the value for taxes it paid. shery: what are the political implications? >> the president has just begun

to have his set of rallies. he may run in 2024. there are two ways at least this could have an impact on him. he is not charged. he is not named as a defendant in the indictment. but one way would be as the investigation continues and the possibility of more charges could potentially reach closer to him, it makes it difficult for his company. it could, at least, to keep customers, vendors, is in his partners. politically, on the other hand, we have seen this remarkable trump to d2 -- jiu-jitsu. he could turn it around. shery: it is true. we have seen him do that in the past. if a criminal case does reach president trump, he will be the first former president. peter jeffrey with the latest on those charges against weisel

lberg. we will have plenty more to, in daybreak destroy you. -- on "daybreak australia."

>> months had to the u.k. chancellor of the exchequer. rishi sunak says the country will make the most of its freedom to set its own rules for its financial services industry which was largely excluded from the brexit trade deal, with the european union speaking to anna edwards. his comments suggest he has given up on wide-ranging access to the e.u.'s financial sector. >> we are always going to be constructive in that

relationship and answer any questions about that protest which we completed some ago about what i'm interested in doing is making sure our financial services industry in the u.k. is something that we all should be very proud about because they create jobs locally and prosperity nationally and that is why today we published a roadmap to deliver our vision for a financial services industry that is more open, competitive, green, and more technologically advanced, and that is the exciting agenda we are delivering. anna: how will that roadmap stand up to the competition? jp morgan opened a six story trading hub in paris. london is still the biggest financial services hub in europe but that is being chipped away at. does that concern you? rishi: if you look at every survey being done, it shows the

u.k. and london remain the premier destination for financial services and that is because we have five intestate strength here and we are going to build on those strengths, not rest on our laurels. the roadmap shows that london and the u.k. more generally will be the most advanced and exciting place for financial services anywhere in the world. we are going to be a leader in green finance. look at the document we published around a green sovereign and retail bond. our plan for a carbon offset market, which is one of the many things we are doing to create new markets here and new jobs. anna: you say about going back to work. we are here in the city of london. does it matter to you whether the city comes back physically, whether we all return to the office, or are you happy to see people working remotely for part of the time? anna: -- rishi: today, we had a different audience and there were lots of young leaders in

the audience and i was speaking to them after the event and you talked to all of them and they are all super excited to get back into the office on a full-time basis because they enjoy the trading, collaboration, the spontaneity, and the mentor ship they get from being physically in the office. if it -- so it's important for young people at the start of their career to have those benefits. we can get the city humming back to life as we all want to see it. shery: rishi sunak speaking with anna edwards. let's get you the first word news now with vonnie quinn. vonnie: thank you. talks between opec and allies broke down after the uae blocked a deal. the cartel has been looking -- 400,000 barrels per day each month from august to december and the agreement would also have extended the broader opec-plus accord, pushing the

final xp forward to december 2022 instead of april. talks are set to resume later on friday. 130 nations back to the global tax overhaul proposed by the biden administration. the endorsement puts the world a step closer to a minimum corporate tax rate and a new regime for sharing profits with multinational firms. several key countries agreed to the terms including india and china but nine held out. the aim is for a final deal by the end of october. the international monetary fund thinks the fed may need to start raising interest rates in late 2022 or early 2023. a statement after the article for consultation also said the central bank will likely begin to scale back asset purchases in the first half of next year. the imf increased government spending keeping inflation above its target. 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 vonnie quinn. this is bloomberg. haidi: the u.s. jobs report is due out and experts ca prolonged period of subdued participation in the labor market that will weigh heavily on personal spending and topline growth. to discuss further, we are joined by the chief economist. give us your expectations for this reading. >> we are looking for a rise around 600,000 so slightly less than the consensus in the market but still very much in line with what we saw last month and i think that would be enough to push the unemployment rate down may be 1/10 or two. taken together, this does suggest ongoing momentum, a positive trend in the u.s. jobs market. more and more americans going -- talking about such strong growth in the first half of the year.

>> do you think this will move the needle if we are setting up for another disappointment even if the pace of the declines has started to slow? do you think this changes things for the fed at all? anna: -- >> i don't think so. the fed is focused on the improvement in the labor markets but they are acknowledging the fact that the labor market -- recovery in the labor market is far from complete. we are talking about millions of americans sidelined. we have some 7 million americans now in a position of employment because they are concerned about childcare or caring for elderly. we have some where we -- 2 million to 4 million americans sidelined from the americans, citing concerns about contracting or spreading the virus so there are still a lot of issues we are working through, which is to be expected as we live through a global pandemic. shery: to your point, take a

look at this gtv chart because it makes it clear about how we are still not to the pre-pandemic levels. 8 million jobs short of reversing the job losses since the pandemic started. were you surprised about the fomc turn, not just about the rate hike projections but the hawkish tilt towards the jobs recovery? lindsey: i don't know if i necessarily interpret the latest announcement from the fed or the latest statement and commentary from federal reserve officials as hawkish. shery: powell said that the labor market would come back very quickly. lindsey: absolutely. we have seen data to support that but at the same time, he was clear that we are not at that recovery point yet and we are not even having the conversation about when to roll back asset purchases. we look at the dot plot and we see that more and more members are talking about a potentially faster pathway to higher interest rates and we are still talking about a timeframe, extended timeframe into 2023 so

on a relative basis, yes, a slightly more hawkish than previous tone but on a nominal basis, we are talking about accommodation likely to be in place for quite some time going into the future. shery: given the surge in oil prices, should we be concerned about the real world of these commodity prices surge where everything is getting expensive for consumers now? lindsey: absolutely. the prices of everything from commodities to metals to consumer goods, they are on the rise so it's very clear right now that we are seeing inflation at an elevated level, well above the fed target of 2% but much of these pressures are expected to dissipate as we go into the end of the year. if we see some of this recalibration in the economy. right now, we still have a stimulus fueled consumer rushing out into the marketplace, putting pressure on producers to

satisfy that demand and despite the ramping up production levels, they are still not quite there yet. i think that this is going to take quite some time before we can even this out and start to see pressures abate but from the fed point of view, this is likely to prove to be a transitory scenario. shery: thank you very much for your insights, chief economist. coming up, the activist investor group is launching an etf. we will hear from the ceo, next. this is bloomberg. ♪

>> over at least the next five years, you are going to see funding increase in our core businesses, even distress and our banking, our real estate, and one might even argue, our energy and water business. there is a lot of opportunity to unlock further value within those together. shery: that was the vice president and deputy head for marketing of bank of the philippine islands, one of the core businesses of the corporation. you can catch more of that

exclusive interview monday at 7:40 hong kong time on "daybreak asia." the activist investment group forced exxon to replace three of its board members and says it's is not deterred by news that a lobbyist dismissed planter a carbon tax. speaking to bloomberg, the ceo explained how the new etf fund is going to be launched and will hold even more companies to account. >> our campaign at exxon, led by charlie at engine number one, was about making sure they have the right capabilities to understand how to manage every aspect of the company including how the company remains a great company through the energy transition so i guess i would say about the current new cycle that we look forward to the new directors joining the board and the company managing for the future, acknowledging some of the changes and transformations

that have to happen there. if i step back, we built engine number one specifically because we see a real link between the impacts the company makes on workers and society and the community but also on climate and the environment on the long-term financial value of these companies, so whether it is an activist campaign or the new product we launched, we think we can work with companies and hold companies accountable for doing the right thing over time. >> let's give it to that etf and talk a little bit more about it, jennifer. etf money, generally passive money. this is the exact opposite. walk me through the structure on how an etf will help you further your cause. >> we think about ourselves as capitalists and we want to help these companies do the right thing and as more and more data becomes available, we can see the relationships between what companies do on social issues,

climate issues, and how it impacts their long-term economic and financial value, so what we have done, and this is definitely a new twist -- what we have done is we put together a product where it's great to hold the top 500 companies. it is an index product. it provides a vehicle that clients can hold these companies over years or decades and we, on behalf of client investors, 10 every year vote very assertively and actively to hold the companies accountable on impact but also help the companies make good choices on impact. we can do small campaigns or very large and more assertive campaigns to help the companies in some cases that credit for the good things they are doing around impact that may not be valued today because some models are short-term. it is a way for everybody to have a seat at the table, be in the market, not divest from the market, and then what we are

doing for them and they know that their dollars and shares are being very active and working with these companies and pushing on these companies to make choices that show up in the long-term. >> at the moment, the data is there on carbon but not other areas. we are talking about race, inequality more broadly. do you expect those areas to become a focus for you? jennifer: we think very broadly about all impact and that is right. so today, we have the data on carbon and carbon footprints and we think it is fairly straightforward, actually. build a model about how each company is impacting the environment and how financially, that relates to how they are valued over time and choices they can make in running their business so we are deep into that and at the same time, we are working very actively with our own data, science, and modeling teams, with a lot of partners to drive the conversation on better and better data on the social side

and i think we see it. we see the relationship between companies that have a package of good wages and benefits for workers, and how that shows up in the value of the company over time, so more work to do on the data side and that's a big part of our business. in the etf, we expect people will hold these companies over years so they will have the ability to get upside in climate and social factors. shery: engine number one ceo, jennifer. it is time for morning calls ahead of the asia trading day. in the u.s., we have seen that red-hot property market. what is it looking like in asia? sophie: in hong kong, we are well acquainted with these prices. in singapore, we saw that housing boom taking a bit of a breather last quarter, which surprised analysts at citigroup. .9% higher on the quarterly basis and this we also had the

bank in singapore seeing the housing market is not over seated at this juncture but citi expecting policy risks will remain the focus for the market given speculation that prices will dampen for the first time since 2018 but flipping the board, the top developer picking singapore remains -- the economy gradually reopens and with a busy third quarter of launches for the industry and pulling up a chart in australia, the hot housing market appears to be cooling. flowing prices on the high-end points to a clear shift in momentum. some are only likely to get tough this month with a lockdown, which has been challenging for mall operators. he expects less demand for brick-and-mortar stores so companies like center group are likely to see some over the next year. a dim outlook for aussie property stocks as we head for the worst week since february, haidi. haidi: even with those cooling

expectations, the australian property market had its best year in 17 years, one of the many countries caught up in a global housing frenzy, sparking bidding wars from new york to shenzhen. home prices are rising at the fastest rate since the financial crisis. let's take a light at the impact with emily cabin. we know the table story -- typical story of people investing where they live. there's a lot of things we have not been able to do with the pandemic. what are we seeing here are we seeing here on a global level? emily: what we are seeing on a global level -- we are seeing people get increasingly desperate. i mean, we talked many times and in many countries about just how expensive property prices have got but the story during the lockdown has gotten increasingly crazy. derelict buildings having mansion prices, reports of

buyers trying to promise -- just to get that edge in the market. just everywhere, the competition is red-hot. whilst where are talking in some places about cooling, we are talking about a cooling from something that is very abnormal indeed. shery: in australia, a lot of chinese buyers helped send prices higher. with borders locked down, what are you seeing in terms of foreign buying? is there any happening right now? emily: the extent to which foreign buying has propelled australian property prices is one of those ongoing controversies. australia has a huge proportion of people born overseas so there's always overseas money coming in but what we have really seen this year is everything has been domestic lead. to of that has seen people returning.

we heard people returning from well-paid jobs around the world, hong kong, new york, singapore, and bringing back a lot of money with them and wanting that blue ribbon property in the nice suburbs, but the other real thing has been wealthy australians. normally, they spent summers in paris but now instead, they have been pouring money into top-end property. shery: emily there. be sure to tune into bloomberg radio to hear more from the days newsmakers, get in-depth analysis from our team. listen via the app, radio plus, or bloombergradio.com. plenty more ahead. stay with us. ♪

haidi: let's get you a quick check of the latest business flash headlines. it became profitable last year but lost in the first quarter of 2021. the trading platform revealed 17% of its revenue came from cryptocurrencies. the valuation has yet to be clear although bloomberg intelligence estimates it could be worth as much as $40 billion. mgm resorts is selling two

hotels in las vegas to blackstone for almost $4 billion after acquiring half of the project. the sales of blackstone include hotels which mgm will continue to manage. mgm has been selling real estate to raise cash for new construction opportunities and online betting investors. a new unicorn is born. the kitchen start up has raised $415 million from a group of investors including softbank vision fund two. it marks one of the largest funding rounds for a middle east company and the ceo says the capital is not enough to seed global expansion. shery: here in the u.s., we are getting ready to celebrate independence day and bloomberg will be broadcasting one of the fourth of july big events, the boston pops fireworks spectacular and you will be missing me on asia monday because i will be watching that. went aboard the august navy ships still afloat which played

a key role in the war of 1812 against the british. shannon has the story. shannon: the uss constitution, also known as old ironsides, is the world's oldest commission worship afloat. >> we try to talk about her, really bring that history to life. >> it earned its nickname during the war of 1812 when british cannonballs were seen bouncing off its wooden hull. >> you don't get fully immersed until you are here and you see all of these. shannon: one of those 24 pound guns has a new name. >> i noticed not all of them were named. in 1812, when they had done teams, they rallied behind something, a mascot. shannon: most sailors back then could not read. no records have survived for the original gun names on the uss

constitution. some have names based on records from her sister ships. >> we pulled a little bit here and there. we have gotten to name a few ourselves. my idea was to name it after -- in honor of women in the military, in the navy, and chief petty officers. shannon: walsh was sworn in as the first female chief petty officer in 1917. >> the first female to enlist in any branch of service and to get equal pay, equal rights, and equal benefits, which was unheard of in 1917. her history is what made my history possible. shannon: the naming ceremony, which coincided with women's history month, was reamed on facebook ahead of the ships reopening to the public. >> people are allowed to come on board, meet our sailors, and then they should visit the museum as well. >> the museum exists to share the stories of old ironsides, to

spark excitement about naval service and the american experience. we are so excited that constitution has more female leaders that she has had in her history and they have banded together and named a gun in the honor of an early u.s. navy sailor. shannon: these canons are century all the replicas of the newly named prospectus is one of only two named by the current crew. >> this is my dream job, having the chance to be assigned to this crew is amazing and i am so lucky every single day. i want them to realize how far we have, as a military in general and how much women have strived to overcome obstacles and challenges. our history as a navy has grown with us. haidi: of course, special meaning this year as the boston pops, returning to a live performance. organizers say these live event

guidelines came another bit too late for them to be able to organize it but still, much more exciting as the u.s. continues to emerge from the pandemic. shery: we will have plenty more to come on "daybreak asia."" that's next. this is bloomberg. ♪

haidi: very good morning. welcome to "daybreak asia." sophie: i am sophie kamaruddin in hong kong. we are counting down to asia's major market opens. shery: i am shery ahn. our top stories this hour. the opec-plus alliance descends into bitter infighting, leaving a supply deal hanging in the balance. president biden scores a major victory as the plan for a