tom: danny blanchflower, thank you so much, david blanchflower from dartmouth college.ayana kocherlakota created a firestorm on our fed show advocating the need for negative rates 2, 3, 4 fed meetings out from here. look for a conversation later today. futures lower, it is mayday. this is bloomberg. ♪ ♪ are watching bloomberg's "surveillance." scotland isnk of setting aside $1 billion for bad loans, almost 10 times the amount it set aside last year. barclays and lloyds making some new -- moves, bracing for the number of our worst struggling to -- borrowers struggling to pay their bills. teaming up to make one billion coronavirus is -- coronavirus vaccines a year. they say the first batches will be produced in the u.s. in july by the end of 2020. the trump administration wants to make shots available for americans but it could take longer. boeing is selling $25 billion of bonds, the largest offering this year. the company says it eliminates the need for more cash. mostg burned through the money ever in the first quarter. that is your bloomberg business flash. tom: thanks

david blanchflower of dartmouth coming up. gold well under $1700 an ounce. this is bloomberg. ♪ tom: this morning, it is mayday and a mayday within pandemic. alabama and texas will open beaches as california will close beaches. the copacabana in rio is closed, sort of. no word of a german beach report, yet this is not funny. yesterday,lobally new jersey leading the nation in deaths. oneon and apple employee million people and they adjust to the pandemic. apple has bought back 24% of shares in the past five years. "the singled july, best way to ensure a robust bug."ry is to beat the this is bloomberg "surveillance," on a mayday, on a friday.