bp has been able to fund dividend boosts and growth yet it yields nearly 8%. so i think there is much more down side for exxon and chevron especially if the global economy continues to slide wall street is turning against fossil fuels in part because some money managers care you about the environment. they've been garbage investors for five years how about ibm? they have attempted 4.8% yield i'll have to adopt the wait and see attitude here. it is a wait and see situation because they have the increased focus on the cloud but necessity have a legacy business i'm a huge believer in the cloud as a secular growth story. the rest of ibm's business, frankly, i think it's a

bp and shell doing well. hsbc also having a pretty good day. what is happening in spain and italy, those markets are down by 2%, 2.5%. you can see we hit our highs two hours into the session today. we will seeion that serious policy action is generally driving things at the moment. we are in the midst of this call taking place with european leaders right now, but it does not seem like it is being done with the shock and awe that the market is looking for. down by .9% in europe. 336. ftse 100 in positive territory. bp, shell bouncing back today. that is were the gains are from a points point of view. really fading into the close today, the market down by nearly 3%. we will see what the final numbers look like later on. it is obvious, we are seeing a little bit of a reverse from yesterday. mind, it is being faded rapidly. the mining sector is up by 1.9%. oil and gas up by 1.5%. todaynks are back up after a horrible day yesterday. the insurance sector is trading up. market, let mehe show you what is going on. utilities. we are basically rotating o

bp upped its dividend. bp has the best plan for how to be less carbon oriented. a remarkable company, sold enough assets that their balance sheet is good and yet i was wrong. it was wrong i think you have to say i'm not early, it's wrong. i believe all the things we create interest and it didn't, which is one of the reasons i was so tough on mike wirth yesterday, the ceo of chevron, because i was looking at bp, they went to 7.7 and they're pretty good company. chevron not go to 7.7? jeff's right what an honest guy thank heavens he didn't say i own bp and they got a great yield. no it's good to have a little -- >> he's always in forward-thinking thautful intfo ing thoughtful >> you like that, not afraid to say -- confident, onneshonest they sold microsoft way too early, took that position 2013, microsoft sold it in '17 >> trump is having an important meeting, he's meeting with, what, kim from north korea, who is he meeting with is he meeting with, oh kim kardashian, sorry. i thought it was -- >> are you being serious well, i guess we'll find out in good time. you

brian gilvary, bp cfo.e fed cutting by a full percentage point to shield the us economy from the coronavirus impact. this is bloomberg. ♪ erg. ♪ >> economic policymakers must do what we can to ease hardship caused by disruptions to the economy and support a swift return to normal. alix: that was fed chair jay powell speaking after the last rate point cut. joining me on the phone is narayana kocherlakota , former minneapolis fed president. if you are on the fomc yesterday, what would you have recommended that is different from what the fed laid out? >> first of all, i think the fed did the right thing in ruling out the tools they had. i would have preferred to see stronger forward guidance. i think the fed spoke in its statement of getting the economy back on track towards maximum employment and price stability, we are likely to see once the dust settles and the economy weathers this storm, we are likely to see conditions in place for a rapid recovery. i think the fed should be clear that it is going to do w

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you can see bp down 19 percent. tullow oil down 37%.rice war between saudi arabia and russia. following the collapse of talks in vienna, promising to cut their able crude pricing, the most we have seen in 20 years. this will have an impact on the other gulf reducer. -- gulf producer. we are seeing an ample supply of oil on the markets, just not the demand. mention, justust opening up, down by 14.7% on the french oil major. let's stick with the oil conversation. think -- do you see anything that stops the falling prices? hans: stocks are falling pretty fast, because of the collapse of opec. so what is the -- anna: do you see anything that will shore up oil prices at this point? hans: at this moment, no, certainly not. it is a combination of the and nowrus less demand, more oil comes into the market. unless opec goes back to the table and discusses a deal in the coming -- we prefer as soon as possible, but at least in the coming weeks, that may push prices up a little bit. usair -- in u.s. shale producing should take longer. matt: do you

bp shares down 18%. shell shares down a similar amount when they open.ver 20% when they open. both down over 20% when they open. the ftse down eight and a half percent at the moment. you can see wea kness percent at the moment. you can see weakness right across the board. but london being hit hardest. the big oil stocks are listed on the ftse 100. that's why they are really feeling the pain. look at that, the good old safe haven, if you got a bar of gold under the bed, it's going to be all right! david. or two of sally, thank you. time now for our daily look at some of the newspaper and website stories which have caught our eye. we'rejoined by iona bain, founder of the young money blog — a site which helps young people better understand personal finance. good day to have you in. let's start on borisjohnson good day to have you in. let's start on boris johnson ‘s good day to have you in. let's start on borisjohnson ‘s government, another emergency meeting to see what next steps are. i've enjoyed a wealth of sporting entertainment over the weekend. but the

at bp, we see possibilities everywhere. so we can all keep advancing.ught, i'm not letting anything take me away from my family without a fight. at cancer treatment centers of america, i had six, seven doctors that work together to take me through this journey. they're not just treating the cancer, they're treating me as a whole person. and that's why i think am where i am today. get care like no other at cancer treatment centers of america. get care like no other unlike ordinary memory wantsupplements-tter? neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. memory, focus, accuracy, learning, and concentration. try neuriva for 30 days and see the difference. >>> we are following breaking news out of new york on the coronavirus. we are now learning there are 21 new coronavirus cases which brings the total to 76 in that state. at least 377 americans have now contracted the virus nationwide, and that number is expected to grow. thousands are being asked to self quarantine to stop the spread, including employees at some o

that's why bp is partnering with a california company: fulcrum bioenergy.turn garbage into jet fuel. because we can't let any good ideas go to waste. at bp, we see possibilities everywhere. to help the world keep advancing. when youyou spend lessfair, and get way more. so you can bring your vision to life and save in more ways than one. for small prices, you can build big dreams, spend less, get way more. shop everything home at wayfair.com unlike ordinary memory wantsupplements-tter? neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. memory, focus, accuracy, learning, and concentration. try neuriva for 30 days and see the difference. >>> president trump is now moving on to his fourth chief of staff. mick mulvaney who became the president's right-hand man in 2018 is out. our white house team is reporting the president lost confidence in him months ago over personality conflicts, and his handling of the impeachment battle. mulvaney will now become the u.s. special envoy to northern ireland. the new chief of staff is north

bp if shows take the not allowed to make the decisions. and say.r there are multiple steps that will be nominees. >> i think for the democratic party now, vow a segment who loved bernie sanders' message and they want the revolution and they want that change. and you have inother segment who wants diversity and they want to beat pot even more. fr and it's clear wlits klobuchar or harris, you've got sbeezed out. >> the imfact thoktd on a fam. . here she is. >> you know, that is the trapgression everyone. if you say there was sexism in the race, everyone says winer. and if you say there is no sexism, about a billion women wonder what planet you live on. >> democratess speej of the house and nancy peloeschy says it's getting harder and harder, not easier. and i'm not going to try to explain. i think it would have been interesting if warren wad have talken on sanders early in the race over the last few weeks. and i'm not saying she would have been the nominee but she could have pile said away some trier, and fronts a little big framtism. and that's one

thing we can do is to defend forward as i've described it, which is to help and assist other countries bpand to prevent those before they get to our shores. which is why it's got to be coordinated out of the white house. all of the gaps jennifer was talking about, those are gaps the white house ought to be identifying by working tightly with state and local officials. i served in the white house during the ebola epidemic, right? and we convened regularly. conference calls and dis cushions with stated and local health officials and helping coordinate at the very quickly. that's got to be done out of the white house. >>> we're going to take a quick break. we just want facts, information and alay any fears people may have. liz, you nerd, cough if you're in here! shhhh. i took mucinex dm for my phlegmy cough. what about rob's dry cough? works on that too. and last 12 hours. 12 hours? who studies that long?! mucinex dm relieves wet and dry coughs for 12 hours with 2 medicines in 1 pill. how you watch it does too. tv just keeps getting better. this is xfinity x1. featuring the emmy award-winnin

the bp will be under pressure. top 10 of the s&p 500, it might fall out of the s&p 50 pretty soon. just circle back to where we started. treasury secretary steve mnuchin earlier. could they facilitate some sort of order to the energy markets? in that same statement, talking about reinforcing it. is there something that the u.s. could broker that would bring more order? >> i think the secretary of treasury is playing chess -- is playing checkers with a group of people who are playing chess. the russians are going to pull the wool over his eyes. there is one thing we could do. the state of texas used to limit oil production. they called them shut down days. 1964-1965.n until if we want to do something about this, the federal government could go to the texas railroad commission and say, mandate that every producer in texas cut production. and if were to do that the u.s. justice department allowed the states to do it, then you could get some stability. otherwise, russia will listen and laugh at the secretary of the treasury. this is a war. nobody knows it. romaine: great to get your th

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that's why bp is partnering with a california company: fulcrum bioenergy.fuel. because we can't let any good ideas go to waste. at bp, we see possibilities everywhere. to help the world keep advancing. i need all the breaks, that i can get. at liberty butchumal- cut. liberty biberty- cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >>> breaking news on the coronavirus. the cdc is investigating another cruise ship with confirmed cases of the virus. the ship is getting ready to dock in san francisco after a so-called small cluster of coronavirus cases were traced back to its previous voyage. brian todd is joining us. this comes amid concerns about testing for the coronavirus. >> testing, wolf. just a short time ago vice president pence sent out some very positive messaging about where the u.s. is in testing people for coronavirus, but by almost any measure, america has been playing catch up when it comes to testing. the vice president with rea

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in terms of energies, bp is still the most widely owned stock in the uk. with the yield the way it is, should you buy a full position today? no if i'm an investor, am i better off buying big innovative stocks that will survive this of course. again, trading you can turn on a dime bp, exxon, the big names that can survive prolonged period of if it comes to that of lower energy prices, yes i kind of think if i'm an investor, i'm staying away from energy futures to begin with i would start to nibble at those big cap names. >> you mentioned something about natural gas. it's higher on the day if i look at the natural gas drillers whether it's eqt or gas, they are up double digits on the day what we're witnessing right now, there will be less drilling in the part of u.s. produces. do you think the fact there will beless drilling will lead to a work off of over supplied natural gas market >> some of them believe that some believe that story. i don't really know. you can have less drill ng tingn the united states. some degree, what's bearish for crude oil is bulli

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action is, and of course during european trading sessions we saw the tradersf the major oil peered bp down 17%, total down 11%, royal dutch shell down 7%. the biggest oil majors in europe getting crushed. we see price action on wti and brent. alix: we have also seen shale producers start cutting their capex. it could get dicey for big oil. ehrenberg said they could see a ebit.r oil companies ismarie: goldman sachs saying they/their forecast just before the market opened in age overnight. it could go as low as $20 a barrel on brent. what does $20 a barrel look like ? an acid disaster. what -- an asset disaster. what does it mean for oil producers that their budgets are around $80, 80 five dollars a barrel? there is supposed to be a potential committee -- maybe that is the light at the end of the tunnel. we already heard from rose nest this morning, saying they plan to amp up supply starting in april. we will see a flood of crude in the market. alix: thank you very much. we will take at the -- we will take a look at the equity selloff with dani burger. walk us through what you know. dan

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bp 17% marathon oil down by 20% this morning.s we're joined on the news line by cnbc contribute tim seymour. good to have you on this morning especially with your expertise in the area of russia. it's been a big weekend and 48 hours or so for the global oil markets. who is a winner here is russia a winner here? >> not so good morning, courtney i think putin is playing a solid game of chess. i would make, you know, the argument that he's assessed the saudis in a bit of disarray that this is an important time to exert some pain on the global oil market where russia is maybe in a better position to be resilient here so again i think if you look at just where russia has played a role, cooperating with opec over the last five years largely, although there have been these moments, i think russia ultimately is obviously going to stand in there and do what's best for russia. but if you look at the russian budget fiscally at least, russia is in a much better position to play a game of poker here or a game of chess, and whatever game this

them with 25 bps. i know there are more teals in the tool box but zero interest rates are here and this is not solving anything. >> i kind of disagree with you guys like i said i thought last summer's rate cuts were a problem and people shfb upset. if you think about our economy on 70% is the consumer and you think about the potential for economic shocks, i mean this is the sort of stuff they should get in front of in my opinion because when you think. >> because they -- >> when you go back to and think about the olden times, the two times we described in '01 to '02 and '08. when you think about 2001 when they leaned on rates going to zero, nobody knew what the war on terror was looking like and nobody knew what the financial crisis looked like but we know the worst-case scenario was bad no one knows how it plays out. i don't think it's that bad. but the reaction is crazy. that's the thing you think about how much debt is all over theis. >> i want to go back to my friend kevin. >> thank you, rob. >> no

at bp, we see possibilities everywhere. world keep advancing. >>> sometimes an info graphic is worth a thousand words. this is from the cdc explaining social distancing, the idea of mitigation when a virus is spreading. so you see there's an x axis and a y axis. you have the rise in daily cases and the number of days since the first case. if you take no measures, you will get a rapid rise in the outbreak, more cases every day. if you take actions like canceling travel, avoiding public events, you'll get a much slower rise in the number of cases over time. that helps the health care system keep up. let's show you how this graphic is spreading in its own way, in a good way. this is a version published by the economist. showing if you delay the epidemic, you reduce the peak of the epidemic and thus the health care system can keep up. let's advance it again and show you a version showing up on twitter. this added line says health care system capacity. again, the idea here is if you take a lot of protective measures, hopefully y

at bp, we see possibilities everywhere. so we can all keep advancing.ta! that's incredibly valuable! ...i...i don't know... when did we introduce siracha? not soon enough. exactly! these are our sales... by product, by region... ...set against evolving demographics. you can actually see taste- trends. since when can we do that? since we started working with bdo. (announcer) people who know, know bdo. >>> president trump continues to give mixed messages about coronavirus. he has admitted he's relying on hunches. how can that be the basis for a public health crisis? john avlon has the answers in our "reality check." >> there's a lot of fear and confusion about the coronavirus epidemic. and while scientists work around the clock to stop the spread, the president hasn't been helping. he's been calling it a democratic hoax as the worldwide death toll passes 3,000. 97,000 confirmed infected. he's been keeping busy blaming the media while tapping his veep mike pence to help clean up the mess. the trump administration's greatest obstacle to sending a clear mess

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what do you think about his strategy and what do you think in retrospect about the accidents and what bp has done to help the state, the shoreline? think thes: first, i judge who handled the multi-district litigation got it right when he said this was reckless behavior. you can look at the fact we produced billions of barrels of oil. trillions of cubic feet of gas and we have done it safely. onre were clear trends going with regard to barrels of oil spilled. everything was going in a clear downward trajectory. project thatwas a was not properly managed. i set through many days and it was clear it really was an ear responsible anomaly. there were a series of errors, any one of which could have error that resulted in the senseless death of 11 people. i think there have been a number of improvements in safety that have resulted from this. settlemente largest in u.s. history from a single company. i think it was important considering the impact. the dollars continue to be invested in the restoration of the gulf coast. ,ith regard to governor edwards his climate announcement, he announced he

bp saying it's once to do more and that it has been engaging with business leaders across bp to see whatssist communities where they live and work, whether that be supporting government efforts, helping local charities of reaching out to people in our supply chain stop what they say we are also looking to protect the elderly, in many ways the most vulnerable, by delivering feed and convenience goods from their retail sites. that is the update from bp, providing free natural for the emergency services and food for the elderly —— free petrol. with me now is our education correspondent charlotte rose. let's talk about the mass school closure as of tomorrow, what do we know what is going to happen with exams? some schools had been sent to their pupils, keep on working as if you are going to be taking those exams, in case there is no possibility, somehow, to sit. what are you hearing? the first thing to say is that education policy is decided by the different governments in the different nations of the uk, we could have a situation where stu d e nts we could have a situation where students in

when i look at the lay of the land, when i can find -- bp is an interesting company. of the things they want to do with oil companies as we went to the capital budget of oil companies as nikola to pursue our business. if you look, we have we have the truck partner cnh, a solar partner, and probably should have a fueling partner over time. and so the idea of grabbing the oil company budgets and making them part of the solution, is interesting to me. the oil committee stocks are valued it like three times as if they are going out of business. it's difficult to put transport oil out of business by the way. what we are doing, is unique and fantastic. it does it is going to take a while to build 700 stations. maria: i love the story of you deciding to getting involved with bt. you were sold on their plan to lower emissions. it's one of your principles which is so great. you aren't worried? we had a market upset, it's a better situation because -- are you going to be able to buy companies at lower prices? >> that's what we do. maria: 's you wanted open and have a? so we had

and what do you think about the accident -- do you think in retrospect about the accidents and what bp has done to try to help the state or the shoreline? rep. graves: first, in regard to deepwater horizon, the judge who handled the multi-district litigation on deepwater horizon got it right when he said this was reckless behavior. you can look at the fact we have produced billions of barrels of oil and trillions of cubic feet of natural gas and we have done it safely. there were clear trends going on for several years with reduction in regard to barrels of oil spilled. in the numbers of accidents, meaning incidents. everything was going in a clear downward trajectory. i think this was a project that was not properly managed. i sat through many days in the court and it was clear this was an irresponsible anomaly. there were a series of errors made, any one of which that could have caused this disaster that resulted in the senseless death of 11 people. really, really awful. i think there have been a number of improvements in safety that have resulted from this. this was the largest sett

yesterday at the open in london, bp and shell stock down over 20%, dramatic reaction to all of this. economic news which is part of economic news which is part of the double hat. look at the oil company shares falling very substantially, 10%, 20% in terms of some of the major oil companies. at the same time, coronavirus, look at what is happening to the airline industry, qantas saying they are going to down 25% of their fleet. so, we have got many different economic actors here, or pushing in one direction, and the direction is down and that can't be good. the big question in terms of stock market recovery will be, is this a v shape recession we will have, or a this a v shape recession we will have, ora u this a v shape recession we will have, or a u shape. all right, we will catch up later. in the meantime, it's pretty you want some of the other stories making the news. america has begun withdrawing some of its trips from afghanistan following a deal it made with the taliban last month. around two—thirds of the troops will leave, with the rest leaving if the taliban stick to their p

big wins in virginia, north carolina, tennessee and alabama bp p does he owe his -- i don't have to askhis question. >> what's interesting to me about everyone trying to use obama is when they're talking about black voters there's always a simplistic answer as to why we're supporting a actual candidate. it's bautz the bat praez and putling him in an atd when you had no ongoing conekd and they weren't part of the obama olition as you described it is a misfire in trying to appeal to black voters, thinking you can sprinkle obama on it and black voters will come to you and we know the reason why voters are blocking and on and trying to convince voters to come out for a particular candidate, having someone people know, trust and have satrack record on, it's easier to do that and so convincing a voter to do do something is a leap. >> he stood by our guy, so we stood by him. i mean, that's pretty simplistic and reverend al sharpton -- although it's not a simplistic reason we're voting for biden, it's something we can throw down on, which is trust. african-american voters are pragmatic and they

buttigieg a lining up to endorse him before day before super tuesday together trying to find a job as bp and that's what's happening right now i think anyone that jumped off the ticket this close to super tuesday. >>that ride a bike that the p c. >>this is unprecedented in american history. an unprecedented. the notion that so many people would run the internet age on and on and off but the idea that 3 significant candidates would drop out right before campaigning for 7 months for a this right for super tuesday is never happen in america should what you saw today the last 72 hours was literally abe a brokered. event a brokered nomination process before the convention are and we're going to see what will what impact it has on super tuesday because a lot of states like california have early voting. a lot in 2018 65% of californians early voted to will and how that will it really have an impact right it's on line and made a huge difference obviously joe biden won big in south ca line a much bigger than he even thought and so i think that gave moderates a boost of confidence that he maybe he

. >> bp was down 20% today is there any chance that company goes bust? >> i don't think so. i think the very biggest here, these global supermajors that have been around for 100 years are going to come through this i don't think there's any question about that. but they are in a competition with the saudi balance sheet and the russian balance sheet. that's really where you're at. so where we think the market balances given what ed's saying about demand is usemp and balance sheets that's going to be the deciding factor and we're going to have to cut u.s. production by as much the market needs to balance which is going to be a lower and lower price and worse and worse balance sheet. >> some of the chatter is putin wants to put the u.s. fracking business under water is that really what's beginning on here? talk about the political dynamic between saudi arabia and russia and how u.s. oil industry gets dragged in >> so there's no question but the russian companies would like to put the u.s. shale industry under. so we have to separate out i don't know what mr. putin is thinking,

the bp oil spill was going to end the world. . judge jeanine: what to do? wash your hands. know everyone thinks there has to be more to this. the reason you wash your hands is to get the germs off. the reason why you need to get the germs off because you can then transfer them to your eyes, nose and mouth, risking infection to your respiratory infection. you are looking at a california medical join was lecturing how not to touch her face. as we repeatedly puts her fingers in her mouth. whatever you have to do, don't touch your face. gloves won't matter because the virus can last for hours on them and surfaces. if you need to borrow your dog's shock col are or go out -- shock collar. don't touch you're face. clean surfaces every day like counter tops and door nobs. the surgeon general said you don't need a mask unless you are sick. and there is no need to clean out the store shelves. as the weather warms, less and less people will get sick from the virus. if you want to complain. complain about the fact that we rely on china and india for ingredients for some of our medicati

bp is down 20%, royal dutch shell open 25% lower. pretty much a sea of red across the board.opped by more than one third since january amid warnings that coronavirus would mean amid warnings that coronavirus would m ea n less amid warnings that coronavirus would mean less buying and selling and fewer exports. that means less demand for oil to transport goods, creating a service potentially that would force sellers of oil barrels to slash prices to compete for a shrinking pool of customers. what has cost the all price to plunge as a shock to the supply of oil. the markets have been expecting the big oil producing companies to cut the amount of all they were supplying to match the reduced demand from around the world, but they could not agree and are now there is a price war. you might have to wait for that to feed through to the price at the pumps. remember, the price of a litre of unleaded only a fraction of thatis litre of unleaded only a fraction of that is a price of oil. there is no pressure on the new chancellor of the exchequer, rishi sunak, to do something in the budge

but they aren't we've seen the decline and no demand coming through in the oil prices the likes of bp in this market >> i had a feeling you would have some insights on this >>> straight ahead, the airline industry banking on a bailout. what former spirit ceo thinks of the plan breaking market coverage comes back right after this. stay with us do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. but when allergies and congestion strike, take allegra-d... a non-drowsy antihistamine plus a powerful decongestant. so you can always say "yes" to putting your true colors on display. say "yes" to allegra-d. >>> stocks facing more v volatility >>> president trump signs off on emergency aid to help more americans. and the white house push to give airlines a fiscal lifeline the former ceo of spirit airlines is weighing in on the battle it is thursday, march 10, 2020 this is cnbc >> welcome back. i'm morgan brennan live

this is something we have used in disaster response, including hurricanes katrina, again with thed bp oil spill. , the president granted us a 60 person medical strike team that was going to come from the u.s. public health service. we found out yesterday morning .hat team has been diverted a team of sailors has been coming out of florida. they are going to augment our staffing at the convention center in new orleans. have 1000 beds operational by this coming sunday. there will be a personal housing unit with another 250 beds across from the convention center, for persons under investigation. so inside the convention center will be covid positive patients. inside under investigation will be across the street in the personal housing unit. the staff from the navy could augment the staffing and the convention center. we will deal primarily with the staffing contract we have executed for doctors, nurses, and other health care providers. we have navy personnel coming to louisiana and they will be working with us. believethe first time i i have signed a letter as a dual status commander of t