brian quinn reports. >> a new normal for spain by the end of june. after an hours long cabinet meeting, the prime minister unveiled hisis government's f fr phased plan to reopen t t country wararning it will depend on weekly progress evaluatioion. [speaking spanish] >> phase zero officially begins may 4 as a hairdressers and other appointment-based businesses can open shop. -- at ae include maximum 30% capacity. phase two brings in theaters, cinemas and museums at one third capacity with some schools reopening. most schools will stay closed until september. phase three should see most commerce is -- most commerces opened that 50% capacity. each phase is expected to allow -- is expected to last two weeks. face masks will be required outside until further notice. spaniards haveve been liliving n the -- under one of the wororl's strictest coronavirus lockdowns with no one allowed out of their homes except to buy groceries. sunday those restrictions begin to ease slightly as children under 14 were allowed outside for the first time in weeks. the governme

brian moynihan. this is bloomberg. ♪ vonnie: live from new york city, i'm vonnie quinn, along with guy johnson in london.g markets." private equity at a crossroads. while the market rout is creating takeover opportunities, it is making financing more difficult to come by. so what is the temperature at pe companies? , ceous now is tony tutrone of neuberger berman alternatives advisors. ackman'sback to bill comments that many companies will go to zero. what is the biggest concern for private equity right now in terms of writing down their portfolio companies? -- private equity firms right now is, number one, making sure their companies have the adequate cash and liquidity, so they are being very aggressive working with their companies, making sure they are focused on that. that is really the first and top priority. as far as markdowns to the values, at this time i think it is very hard to predict because a lot of the harm to the businesses has been very recent, just in the last month, especially here in the u.s. but we did a study at neuberger berman looking at the last 2007, 2008, really exploring the raw

quinn covered the story. >> amidst the preoccupation with the fuel shortage and the meat shortage, a new gap has appeared in the staples of the american household, the toilet paper shortage. >> reporter: film-maker brianit last year. >> people think your some kind of prophet now. >> i'm not the nos nostradamus of toilet paper shortages. >> reporter: here is what happened in december of 1973. >> a congressman from wisconsin releases a statement saying the next thing we're going to have to worry about is a potential toilet paper shortage. >> a toilet paper shortage is no laughing matter. it is a problem that will potentially touch every american. >> reporter: the warning was picked up by late-night king johnny carson's writers who left out the potential part. >> there is an acute shortage of toilet paper in the good old united states. we've got to quit writing on it. >> reporter: the false alarm sent carson's audience of almost 20 million running. >> i'm used to being able to go when i want to, but suddenly i think i'm going to have to start curbing my habits. >> people all over the country grabbed as much toilet paper as they possibly could. >> reporter: a month later, cbs news' own walter cronkite set