scarlet: that was alessandro rebucci of johns hopkins university.sclosure, the johns hopkins bloomberg school of public health is supported by michael bloomberg. let's get a check of your business flash headlines. exxon mobil targeting its best known shale assets for deep cuts. 30% to $23 billion. denmark's the second-biggest budget cut in exxon history. the largest share of the cuts will hit the permian basin in west texas and new mexico. deutsche bank downgrading general motors. analysts warning that gm will run low on cash if production shutdowns continue for months. they say gm and ford have only 15-17 weeks of liquidity to ride out the current editions. wynn resorts is the latest company to test out the credit market. they are looking to order $350 billion in unsecured notes. it is the first such sale since open threend market weeks ago. that is your business flash update. it is supposed to be spring break right now for a kids in public school but it looks like increasingly everyone's summer plans will have to be put on hold as well. goldman sa

alessandro rebucci is with their , with aing department tour of duty with the international monetary we within this exact in a shock, to an em acrossas we have seen the 1990's and 2000's? alessandro: we are very close. emerging markets have been hit very hard by the initial phase of the crisis and we have seen a massive outflow of capital in most emerging markets. is just picking up in emerging markets. as we know, it lasts for about four months and the peak is about two months, and emerging markets are much less capable to absorb the crisis. we expect to see unprecedented declines in economic activity and possibly widespread financial damages. tom: professor, you are a world authority in real estate. diffused outbe there that we cannot touch, how is the leverage in the global real estate system? are they exposed as other asset classes were exposed in 1998? level,dro: at the global leverage in real estate is not that diffuse and deep in the united states. markets, in emerging emergencies take place on a cash basis so from that perspective, leverage in real estate is not the most impo

guy: that was johns hopkins professor alessandro rebucci.ing up, a longer look at what is happening and a bright spot. we've got one for you. this is bloomberg. ♪ york, i'm from new alix steel, joined by guy johnson in london. let's give you a bright spot in the markets in the form of tech. samsung is a rare bright spot during dependent, with better-than-expected earnings during the first quarter. the long-term effects are still really unknown. it is great to see that more people are using zoom, therefore they need their chips, but at some point, the lack of demand in smartphones has got to come home to roost. guy: you also wonder how the cycle is going to work. normally these things are on a fairly regular cycle. we get new updated phones, and you wonder how that is going to be affected. particularly, i am wondering how we are going to see disruption in terms of the normal season. you get to the back end of this year. are people going to be in a position to upgrade their phones? are they still going to want to upgrade the phones? are we goi

emily: john hopkins professor alessandro rebucci.urse, mike bloomberg, the founder of bloomberg lp, is a supporter of the johns hopkins bloomberg school of public health. i want to talk about the worker agitations we have been covering across the country and around the world. instacart shoppers as well. josh idles in, who covers labor for bloomberg news, has been valiantly covering the stories of these folks across the country. josh joins us on the phone. we have been covering this day by day. whatt to get a picture of things look like right now. better safety, better pay, better benefits, insurance. where do things stand in terms of where companies are listening? that there are signs worker rebellion in sectors like health care, food, logistics could snowball. more companies have more workers take part in walkouts or protests. companies in general are not thingsthey are doing because they go on strike. companies like amazon and instacart have rolled out additional announcements about things they are doing to keep their workers safe.

that was the johns hopkins bloomberg school of public -- johns hopkins university professor, alessandro rebuccis around the world will be closed to read it is a long weekend. the nikkei am a firmly below 19,000 -- the nikkei, firmly below 19,000. fair to say, the muted reaction is suggesting some investors are equities havee already hit a bottom. financials are weighing in particular. the be ok decision, profitability concerns -- the bok decision, profitability concerns rising. here, the s&p, really lowering the outlook when it comes to australia changing from negative to stable. we also are watching those banks , as well. a lot of uncertainty over what happens to dividends with the bank of queensland. seeing futures, we are the dollar edging higher after the cut to the us of the australian outlook weighing on that. yen andeing the japanese bond market holding pretty steady. much more to come on "bloomberg daybreak: asia." this is bloomberg. ♪ >> signs of credit stress are easing in asia. cost of insuring have fallen as investors turned more bullish on credit amid policy support and virus civil