get a roundup of the stories you need in daybreak.erminal subscribers go to dayb for the details on that. and we got all the around the ceo noel quinn retiring and search for successor. coming up, cease-fire talks in the middle east as campus protests call for an end to violence from the u.s. to europe. later, we continue the days earnings with vw and adidas. does the turnaround continue to be modest optimism? that company will report in the next 20 minutes. the details and analysis, this is bloomberg. ♪ tom: most come back. let's turn to south africa's election, one month away. the party expects to be in government and raise additional state revenue by increasing inheritance tax. let's get more from jennifer in johannesburg. you interviewed a spokesperson, a man wrapped up in different controversy's. what are their expectations? jennifer: if you are in south africa, he is in the media because of support from the population. we got a poll showing eroding support for the ruling anc, the party jacob was a part of. consolidating 40%

we will have more ahead on daybreak asia.en you own a small business every second counts. 120 seconds to add the finishing touches. 900 seconds to arrange the displays. if you're short on time for marketing constant contact's powerful tools can help. you can automate email and sms messages so customers get the right message at the right time. save time marketing with constant contact. because all it takes is 30 seconds to make someone's day. get started today at constantcontact.com. helping the small stand tall. to me, harlem is home. but home is also your body. i asked myself, why doesn't pilates exist in harlem? so i started my own studio. getting a brick and mortar in new york is not easy. chase ink has supported us from studio one to studio three. when you start small, you need some big help. and chase ink was that for me. earn up to 5% cash back on business essentials with the chase ink business cash card from chase for business. make more of what's yours. annabelle: some breaking news crossing the terminal, the eu openi

>> good morning, this is daybreak europe. i am tom mackenzie in london. the stock so i think after another jump in treasury yields. drawing power calls say rates can be kept steady as long as needed. morgan stanley's had to plan its biggest round of job cuts in china in years. we bring you a book -- a rep of the wall street bankers. we ship to europe with two heavy hitters reporting. a slowdown in sales revealed that now dropping across the trademark -- the chip equipment supplier, bookings for the first quarter a miss for asml, coming in at 3.6 one billion euros. the estimates had been for 4.63 billion euros. a sizable mist in terms of first quarter bookings. we know that they must've been scrutinizing that data point. the focus on demand out of china. we will look for details on that. the second quarter gross margin is that it will get 50 to 51% in terms of the gross margin for the second quarter. they see sales between 5.7 billion euros to 6.2 billion euros. that is looking ahead to the second quarter. sales and the orders missing the estimates. net sa

ameriprise financial. ♪ >> welcome back to daybreak europe. slumped after first quarter deliveries missed estimates by the biggest margin in seven years. tesla shipped under 387,000 vehicles and estimates were for 449,000. we can find out now with asia transport reporter linda. what went wrong for tesla? linda: a whole range of factors that tesla is finding challenging. global demand is softening right now across markets like u.s. and eu. you've got tesla's second largest market china going through a price war in the auto market with ev makers discounting prices and supply chain disruptions with the red sea attacks by rebels that led to production disruptions at the berlin plant. these paint a bleak picture for tesla and we are seeing that in delivery numbers. lizzie: i'm wondering what could be the read across for europe and the industry? linda: in europe, electric vehicle market had a strong start in january, sales of battery electric vehicles rose more than 20%. in february that slowed down a little bit, so that could test some doubt with h

haidi: this is daybreak: asia.comes to the equities trading session. bonds under pressure. treasuries starting off on the back foot. we are seeing yields hitting 2024 highs. paul: the two-year edging closer to the 5% level. we are hearing from the ministry of finance again about possible intervention. it is really a retread of those old lines. if the yen keeps on weakening, maybe today is the day. haidi: we spoke earlier about when the intervention could come and the sensibility of the fact they may want to wait until after the u.s. inflation print. wait for that to washout if you will, before if they need to do significant intervention. let's take you to the market open. we are expecting a solid set up. japanese equities just extending those gains about .4% higher for the nikkei 225 and the topix. watching a lot of the commodities and energy names. this is oil, iron ore and a number of other commodities continue to clock in those gains. dollar-yen hovering just under that 152 level.

♪ >> welcome "daybreak: australia." am paul allen in sydney and were counting down to asia's major market opens. annabelle: i am annabelle droulers in hong kong. at the top stories this hour. a stock rebound is set to extend into asia as stocks hold strong earnings. treasuries waiver ahead of a flurry of bond auctions. >> digging in for a legal battle over u.s. moves to force the tiktok sale could be shaping up as a four officials in washington and beijing. annabelle: somehow teslas china price cuts could cut on her property in the world's biggest tv market. al: parade, out of the gate, we have breaking news out of australia. pmi's, personal reading for the month of april shows a modest approval, 50 3.6, from the 53.3 had in march. a reasonable rebound in manufacturing as well, 49 point nine, a shade below the crucial 50 level. pma services backing up a bit but still in positive territory, 54 .2. we are counting down to the major data event of the week on wednesday the first quarter cpi numbers. that is seen holding ste

>> welcome to "bloomberg daybreak: australia." i am haidi stroud-watts. >> i am. the top stories this hour, elon musk making an unannounced trip to china meeting the premier and seeking to reduce the revenue decline. >> bhp is said to sweeney 02 anglo american after having its offer turned down. >> bloomberg learned elliott management is to build a large stake in one of warren buffett's favorite japan trading houses. haidi: we are looking like a pretty positive set up so far, said futures up by .3 of 4%, indicating an early advance of 1% will be get to the cash open. u.s. equities getting on friday, strong earnings reports with the likes of alphabet and microsoft under relief when it comes to month inflation lifting spirits at the end of what was ultimately a choppy week. take a look at how we are setting up when it comes to japan, nikkei futures flat at the moment. we see that yen tumbling pass levels targeted for intervention. we saw the slide gathering pace after a deb fischer boj and lots of questions as to the credibility of policymakers testing those losses

>> welcome to daybreak australia. markets have just come online. paul: asian stocks set lower and a commodity surge reviving the good news is bad news trade. fewer rate cuts expected than the fed. haidi: first quarter sales missed estimates by the most on record raising concerns over ev demands. paul: presidents biden and xi speaking. we are open for trade in australia. we do have a staggered open, if occult to get a comprehensive read, but we are higher by 0.1%. one trade continued from the u.s., rising yields. you can see the 10 year climbing 4.121. we saw bonds yelling -- selling off. that u.s. data keeps surprising to the upside. in australia, bond sale, $3 million worth at 2.75%. oil prices we are watching, that keeps creeping up. u.s. crude futures topping $85 today, first time that happened since october. rising middle east tensions simmering in the background. we are expecting the cartel to reaffirm its current production policy. elsewhere futures for the nikkei looking flat as we continue to watch the yen for possible intervention. haidi:

. >> good morning, this is bloomberg daybreak: europe. i'm tom mckenzie in europe. a currentlying dollar bulldozes through asian fx. the fed's mayordalei says there's no rush to start cutting rates. china's g.d.p. growth beats expectations but retail sales and industrial output disappoints. a slowdown is underway. plus, israeli military officials say they have no choice but to respond to aaron's missile ask drone attack. this as the u.s. house will vote on aide for the ukraine and israel. crossing back below 3,100 for u.s. stocks on stronger data for the u.s. u.s. retail rate coming in stronger. then there's the geopolitical overlay as well. further downside flagged by u.s. futures. s&p futures down by . 2%. setting for a shellacking across the european markets. looking to losses of 1.88%. down 102 points is what's been flagged. let's flip the board and look cross asset. the selloff as well as across treasures yesterday was pronounced. currently the 10-year benchmark at 460. the pound and focus today on the back of wage data that comes out. 1:4 on the pound. it's mo

>> welcome to daybreak australia. we are coming down to asia's maybury -- major market opens. >> i'm annabelle droulers in hong kong. treasury yields falling ahead of the u.s. inflation report. bond traders so bearish, they risk adding squeezed on anything less than a red-hot reading. haidi: new zealand central bankers set to hold the key rate as the institute of economic research finds business confidences slumping. as japan's prime minister prepares for his summit with president biden, we talked trade and security with the u.s. ambassador rahm emanuel. we are in our away from asian markets opening across the region. take a look at our futures the session. some mild upside when it comes to sydney futures, 3/10 of 1%. mostly skewing higher. following the s&p 500 rebound to eventually cause little change. mixed signaling's going into the session figured kiwi stocks down tense of 1%. the rbnz decision. some of these indicators looking more negative. but there's really just a focus on whether some of that guidance toward

♪ >> boot morning, this is daybreak euro and i am lizzy burden in london.sian stocks are higher as focus turns to inflation data. treasuries steady, a whisker away from 4.5%. former st. louis fed president james tells us markets should expect three cups this year. but he says the fed does not need to rush. more of our exclusive interview this hour. israeli officials signal optimism on talks with hamas. prime minister netanyahu warns that a day has been set for the invasion of the southern gaza city of roff up. good morning, welcome to tuesday. the prospect of three fed cuts this year, whatever james bullard says, is not looking likely in the eyes of markets. ahead of tomorrow traders are pricing only to cuts. first in september. with fewer cuts it puts pressure on the earnings season to drive the stock market rally. not a lot of fireworks on equities and you have futures pointing to a slightly higher opening this morning on wall street, but not so in europe and if we flipped the board, let me show you treasuries because this is where the action was. 10 year

we have plenty more to come on daybreak australia. this is bloomberg. ♪ haidi: argentinian president is striking a more pragmatic tone when it comes to china. six month ago he threatened to cut ties calling the asian nation and assassin. he spoke with john micklethwait. >> as for the chinese government, what we have always said is we are libertarians. if people want to do business with china, they can carry on business as usual. what i said is i would not be aligned with communists. that is precisely one of the things. who did i say i was going to align with? the united states and israel. do you have any doubt that is my alignment? >> nobody in fact you have a good example at the moment and i will come back to israel and the united states later. now in argentina the focus is on a chinese space station in patagonia your predecessor allowed to get built. the u.s. says the space station has military purposes. will you close it down? >> well the point is this. negotiations are beginning. the chinese say that is not the case. we will move

this is bloomberg daybreak: europe. these are the stories that set your agenda. loretta mester wants to see more debtor. governor bowman warms -- warns that progress on inflation may have stalled. the boe governor says that u.k. is facing less inflation risk than the u.s., opening up the prospect of cutting rates before the fed. tsmc, the world's biggest semiconductor maker, set to report earnings this hour a day after disappointment from asml. nokia dropping right now. the telecom equipment maker of course. we will bring you those lines with a focus on sales. first quarter net sales coming in below the estimates for nokia. 4.6 7 billion euros. essentially 4.7 billion euros. below the estimates of 5 billion euros. here's the redhead now for nokia. they still see their full-year adjusted operating profit up to 2.9 billion. they are holding their view in terms of full-year adjusted operating profit. we know there has been pretty solid weakness around the demand, particularly for 5g telecom. that has been a challenge for both nokia and ericsson. we continue to look

♪ >> welcome to daybreak australia. markets just have come on line. paul: the top stories, the u.s.tocks and bonds lower with strong factory data reinforcing the view a rate cut may not happen this quarter. >> hurting the yen, it's a potential intervention level. paul: we look at the future framework, speaking live with chris kent. >> inflation policy numbers top of mind as we ask are they more or less online with expectations when it comes to the price index at .10%, softening from half a percent we saw in february. the year end number is hotter, 3.1% at a faster clip than the 3% that was the consensus survey and matching the same pace we saw in february as well. energy prices year over year coming at 2.4%, a little lower than 2.5%. more progress towards the 2.4% with the bank of korea but has a way to go and we see the increase in fresh food policies and a the price by the government leading to that slowdown and saw a rise in retail gas prices pulling in the other way. these readings according to bloomberg economics likely to change the b.o.k.'s narrative the final stretch to 2% w

lizzy: good morning, this is "bloomberg daybreak: europe," i'm lizzy burden in london. stocks gain in asia along with u.s. futures, as jay powelfirmse federal cut rates this year. but he says the central bank is in no rush to listen policy. >> losing rates too soon or too much could result in reversal of the progress we have seen on inflation and ultimately require even tighter policy to get inflation back to 2%. lizzy: oil rolls on, brent crude flows with $90 a barrel as opec+ sticks with supply cuts through. janet yellen goes to beijing. the u.s. treasury secretary warns against decoupling from china, but says trade must be on a level playing field. good morning, welcome to thursday. jay powell sticking to the script yesterday, wait and see mode is still where the fed is at, and that gave relief to stocks and bonds yesterday. futures pointing to an even higher opening this morning on both sides of the atlantic. if we flip over to the cross as a picture, ultimately, the fed chair's comments didn't really move the dial when it comes to where the markets are in terms of

♪ >> good morning, this is bloomberg daybreak europe.esla shares soar after elon musk's promise of making cheaper cars sooner. stocks gain in asia, pay $69 billion sale and solid demand as a 5% coupon appears allusive. biden says a will flow to ukraine after senate passes and aid package. let's check in on earnings. volvo cars with the focus on price and cost cutting. we know sales across europe have been slowing. volvo cars sees full-year revenue up at least 15%, pushing forward, revenue is a miss. logging 93 point 8, 90 4 billion krona in terms of revenue below estimates that had seen shy of 100 billion. in terms of operating income, that came in below estimates versus just shy of 6 billion. margin is a mess. just shy of 5.7, but revenue up 15%, a company we will watch at the open as we contend with softness. competition from china, price cutting. we will be speaking to the volvo car ceo and president at 7:15 am u.k. time. and the swiss drugmaker first-quarter sales coming in shy of estimates. 14.4 billion, estimates for 14 billion, a

this is bloomberg daybreak era. these are the stories that set your agenda. >> shares in hong kong valley while treasury yields cut off that 2024 hi. as traders count down to the latest reading on u.s. inflation. rafael bostic says he sees just one u.s.-made that this year. apple says it made $14 billion worth of iphones in india, double and production as the tech giant accelerates its private away from china. good morning and it is cautioned in the markets this morning as we await that inflation print. traders impatient for rate cuts and have already had to contend with two cpr reports this year. we have another thorn in their side. the stock were waiting for this report. you had the s&p 500 dipping. nvidia leading the losses. closing just above it. if we flip the board over to the cross as a picture, we are not expecting too much movement on treasuries as we wait for the cpi report triggering fireworks in the markets. but you did have treasuries climbing. while below that 4.5% level. 4.35% is where we are currentl

>> welcome to daybreak australia. i am highest-rated loss incident. >> asia getting a positive leading from wall street's solid top earnings. tesla soaring on china's approval for his driver assisted system. christ depends government will need sustained intervention to prop us up after monday's sharp move. >> samsung headlining edges and is today. the first-quarter profit, seen surging more than 300%. we are just getting some breaking news out of south korea at the moment. industrial production numbers for the month of march. a bit of a disappointment here. we had three straight months of increases. a pretty sharp decrease this time. deceleration of 3.2% for industrial production in south korea. an annualized figure of .7%. that is a pretty hefty ms. there. those have been revised down as well. the focal fleeting just awaiting her break of chip numbers as well. semiconductor output with that detail not available. please take a look at how we are shaping up in terms of the open. australia and japan returning from a pub

we will have more on "daybreak australia." you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. but starting it eight months pregnant, that's a different story. with the chase ink card, we got up and running in no time. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. haidi: the u.n. is hosting's flagship sustainability week in new york, bringing tea officials to discuss global issues on tourism, infrastructure, energy, and transport. the event is aimed at the agenda for sustainable development. we are joined by v president of united nations general assembly, dennis francis. happy to have you with us give us an update in terms of the progress being made toward these goals. amb. francis: first of all, thank you for having me. it is a great pleasure. in 2015, the united nations agreed to the agenda for sustainab

that is it for daybreak: asia.age continues as we look ahead to the start of trade in hong kong, shanghai and shenzhen. ♪ the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo her uncle's unhappy. i'm sensing an andunderlying issue.ss. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. >> good morning and

>> good morning, this is "bloomberg daybreak: europe." i am lizzy burden in london and these are the stories the judge or agenda. stocks in asia follow the u.s. lower ahead of the crucial jobs report. fed officials divided, neel kashkari floating the possibility of no cuts but loretta mester is saying the central bank is getting closer to its target. israel agrees to open new aid routes into gaza after a warning from president biden. we'll extends gains with brent pushing above $90 per barrel for the first time since october. u.s. treasury secretary janet yellen starts are we on visit to china with a warning the chinese overcapacity manufacturing poses risks to the global economy. also on the show, our exclusive interview with argentina's president javier millet -- milei. happy friday, the day you will been waiting for all we, u.s. jobs day. could we get the goldilocks scenario for markets? the suggestion that the labor market is taking a serious downturn but no excuse for the fed to not cut rates again. we will preview that with our gues

tom: good morning, this is "bloomberg daybreak: europe." the yen hits a fresh 34 your low reaching 156 after the boj colds rates steady and tweaks its language on the bond buying. we bring you the latest reaction at head of the governor's press conference. wall street higher thanks to a boost from big tech, alphabet and microsoft shares surge on earnings beats as fuels demand. hopes of dampened as the u.s. economy slows well price pressures move higher, traders pare rate cut bets as the focus shifts to bce data out today. you put from the tech story certainly on the earnings front. we will break down the gun story as we lead up to the conference 7:30 u.k. time. the opitimism coming through, alphabet coming through this first dividend ever and to share buyback as well, and it is proving both of these companies that their investments and i are now paying off. european stocks pointed up by .6 of 1%. ftse 100 futures as copper pops up higher on the session. s&p futures building on the optimism around the tech story looking to gains of .8 of 1%

more ahead on "daybreak: australia."is bloomberg. ♪ haidi: improving relations between beijing and canberra are brightening the outlook for us stocks that have faced. restrictions. for more, let's ring in jean mckay who has been looking at this. we heard from them ahead of the key meeting where we are expected to see those tariffs being dropped. have those moves been priced and already? jean: since speculation started mounting late last year, we have seen a jump in treasury shares and other data tariffs were scrapped, we saw a jump. we saw a jump in smaller companies like australian vintage. that was priced in any way. there are questions around how much of an uplift you're going to see in the earnings of these companies. prior to the levees, the china market with 30% of treasury's earnings. but since 2019 from a has just about halved. how quickly that will pick up will be interesting. in another stock, a bottle of maker, morgan stanley is predicting an earnings left for them for boxed wine. annabelle: and no sector is p

plenty more to come on daybreak australia. this is bloomberg. paul: the c.i.o. of t.said the fed risks losing credibility if it cuts rates too soon. they said early easing could trigger a repeeft the 1970's when the central fed took its foot off the brake before inflation was fully tamed. >> one of the things that stands out to me if you go back to what powell said early on, he's a student of what happened in the 1970's. if you look at the mistake made then, cutting too early. if you map the c.p.i. to the very beginning of this cycle versus the last, it's following a similar curve. if they go ahead and start cutting now i think they're in danger of making the same mistake. >> do you think that's the biggest risk, cutting too soon? >> i do. >> what would that mean for bull markets? >> you'd see the spike up and then you'd have to react to that on a way that would put them on their back foot and you'd have a big issue for that. >> i want to challenge one thing you said which is powell is a student of the 1970's? is he really? he sounds like the most -- he wants to cut r

we will have more ahead on daybreak australia.his is bloomberg. ♪ haidi: apple shares, you can see that pop we had in the overnight session after a bloomberg report that the tech giant is preparing to overhaul its entire matt line up with ai-focused in-house chips -- entire mac line-up. take a look at the sales we have coming through. this emphasizes why it's coming at such a critical time for the lineup. >> absolutely. this is a set of products that apple produces that really peaked in 2022. you will remember that during the pandemic, everyone was going out, buying laptops, new devices, new tablets, and that was a really peaked time for them. we have seen sales of the mac come down in more recent years. apple is doing everything it can to refresh the line, to breathe new life into it, to get people excited about that whole line, from the imac many to the macbook pro. they will be equipping it in short order with the highest power chip they have. haidi: tell us about the equipment with ai technology. what does that mean for the co

>> welcome to daybreak australia. i'm paul allen. counting down to asia's major market opens. >> the top stories, asian markets set to kick off for a week on corporate earnings and economic data as traders seek insight into the direction of central bank policy. >> tesla slashing prices amid slumping sales and swelling inventory as elon musk puts off his india trip to deal with a company in chaos. >> u.s. builder forced sale or ban of tiktok set to become law after winning bipartisan support in the house of representatives. paul: this is the start of another week. how we are tracking in terms of futures, don't want to start off on a bummer after last week but positive territory for a sx futures, better by about 0.3%, nikkei futures looking flat as well. the aussie dollar, hovering around the 0.6 seven cents level, and if you were looking for bright spots, go doing well. -- gold doing well. a pretty ugly picture elsewhere. annabelle: it is the havens that you are pointing out and no surprise, investors flocking to them with with we see

>> good morning and welcome to bloomberg daybreak: europe. let's get to the top stories that set your agenda. stocks and bonds telling off after u.s. inflation came up for a third time in a row. next up, it's all about the ecb. rate cut bets getting paired. volatility surges in the euro. we are live in frankfurt. oil back in focus as the united states warns of imminent strikes on israel by iran. negotiations on a cease fire are ongoing. quick check on the markets as we digest the geopolitics and monetary policy. futures, a little bit of outperformance in europe. i say this with a wagon of caution here. you're a stoxx 50 futures unchanged after a major selloff in the state. europe also outperformed in yesterday's session. how much of that is a reflection of what we may hear at the ecb today? things seem virtually unchanged. 5208 on those s&p contracts. let's talk about the cross as i picture as well. the bond market is fascinating here. we've crossed 4.5% on the 10 year yield. you are seeing a bid into bonds this morning. again, a move above 4

♪hat was peter elst annabelle: this is daybreak asia.ng down to asia's major market opens. the big story is to let consistent theme, what is the fed going to do? what does that mean for currencies? we are really focusing on the korean won and the japanese yen of course. haidi: perhaps the growing inability for policymakers to be able to do anything to support any further weakness in those currencies. if we have a further lag in dollar strength which is expected. there are some questions being raised. in terms of the inflation being so stubborn in the u.s.. did the fact that the fed actually flagged easing into the end of last year potentially encourage that scenario? let's get you to the opens. annabelle: we've got japan and korea. australia also starting to trade here. the focus sees on currencies. you are watching the japanese yen holding steady here. still around that 154 mark. some investors are san

>> this is bloomberg daybreak. i am tom mackenzie in london. these are the stories that set your agenda. the end of after tumbling past another psychological milestone for the first time since 1990 as intervention nerves fuel volatility. this as market rates for a hawkish tilt when the fed meets this week. antony blinken will step up efforts today to secure a truce in gaza as is really forces >> listed in the netherlands and this is the head. less about the earning story and more about this agreement and the challenges they faced around the safety of some of their kit. particularly that sleep apnea devices. the phillips reaching a $1.1 billion early settlement in the sleep apnea case. that? haslinda -- leader for this company and it is coming in below that settlement number. $1.1 billion is the early settlement in that sleep apnea case in the u.s. for phillips again. a number coming below many of the estimates. we can seem to look out for details into velti order outlook. drawing a line under some of the issues they face. the softness. we are s

more ahead on "daybreak asia." to look at the rise of bitcoin, a record high ahead of the bitcoin that should be taking place later this week, big news this year given we saw u.s. bitcoin etf's coming to market, and now we have several asset managers in hong kong who have given conditional approvals, and also ether etf's as a point of difference. let's get to our etf analyst, rebecca, some of the names that came out, perhaps one could have been expected. rebecca: in hong kong, there were two issuers, not what we had expected, so the three that got mentioned are split across these three etf, one has the sixth etf with 40 million in assets under mandarin. china is the largest with 50 etf's, and harvest had three etf analyst, so they are not the usual suspects, but it is interesting because ultimately this is the first spot point etf to be launched in hong kong. annabelle: what is the significance of these conditional approvals? rebecca: what is interesting here, hong kong is trying to be the crypto or virtual asset h

this is bloomberg. ♪ welcome back to bloomberg daybreak euro.e will head to africa now where zimbabwe is reprising its battered dollar with a new unit that will be backed by currencies, gold and other precious metals. this is a byway six attempt to have a functional currency since 2008. just talk to us about this transition to the new currency. >> it has been a long time coming judging from the current state of the zimbabwe economy. inflation is high. this about wayne dollar has lost near 7.5% of its value to the dollar this year alone. that was -- they waited with bated breath. the central bank says they have up to 285 billy does up is truly happening is are we calibrate in their systems and raising the current balances in the central bank governor who assumed his role a month earlier that inspected says a couple of changes becoming. part of these changes is wanted to show the zimbabwe currency also destabilizes so they can have some stability in the prices of goods and services. >> talk us through some of the other key decisions. this was the

that is it from daybreak asia.overage does continue as we look ahead to the start of trade in hong kong, shanghai and shenzhen. the china show up next. this is bloomberg. ♪ and with the right help, i can make this place i love even better. earn up to 5% cash back on business essentials with the chase ink business cash card. make more of what's yours. billy's not just running a small goat grazing business he's also the chief marketing officer. and when he needs to round up some new customers constant contact makes it easy. helping him craft the perfect message like a marketing genius so his email stands out. constant contact delivers all the tools you need to help your business grow. if billy can do it so can you. get started today at constantcontact.com. helping the small stand tall. david: we are half an hour away from the opening bell. you are watching "the china show." >> a muted start for stocks in asia.

. >> good morning, this is "bloomberg daybreak: europe." i am tom mackenzie. israel launches a strike on iran according to u.s. officials, but are conflicting reports out of a ron about the extent of any damage. iranian immediate reports of the country's new facilities are safe. stocks slump as investors rushed to haven asset on concerns of a widening middle eastern conflict. brent crude spikes above $90 a barrel, plus voters in the world's largest democracy said to the polls. we will be live in india as the election gets underway. the fog of war is present for us as we try to get more details on these stripes we are hearing from u.s. officials, one strike from israel to iran. we are awaiting the details. the senses either the contacts were limited or that the iranians are playing this down or both things are true, but we wait for more reporting to get clarity on what is happening regarding the response from israel to the iranian attack over the weekend. there is been a move into havens as we said, some of that in the last 30 minutes to one hour has pared on t

plenty more to come on daybreak asia.s is bloomberg. ♪ paul: elon musk has decided to postpone his trip to india. tesla spent the weekend cutting prices for cars and head of earnings expected to confirm the first revenue decline in watcher years and he has state their future on the robotaxi and for more on this big take let's bring in our guest. what is going on? >> what is going on at tesla is a great question. it's been a crazy week even by elon musk standards. tesla will cut 10% of their global workforce, 40,000 jobs. they came out in a late night memo last sunday. then this week there was the recall of the cyber truck, all the ones they sold so far had to be recalled to ask a fault. tesla is trying to put the pay package for elon back to shareholders for a vote for approval and then the news about the price cuts commit discounts to self-driving package in america and then the last-minute decision to cancel the trip to india scheduled for this week all is ahead of what is shaping up to be a crucial earnings call tuesda

that is it from daybreak asia.e continues as we look ahead to the start of trade in hong kong, shanghai and the china show is next. this is bloomberg. ♪ to me, harlem is home. but home is also your body. i asked myself, why doesn't pilates exist in harlem? so i started my own studio. getting a brick and mortar in new york is not easy. chase ink has supported us from studio one to studio three. when you start small, you need some big help. and chase ink was that for me. earn up to 5% cash back on business essentials with the chase ink business cash card from chase for business. make more of what's yours. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh i don't want you to move. i'm gonna miss you so much. you realize we'll have inter

>> this is daybreak asia, counting down to asia's major market opens. the late rally we saw on wall street was a sigh of relief as we see the rebound taking hold. not saying much that was new but reassuring investors about the rate hike ahead. paul: he said we have to see that inflation come back within target and stainable the keyword there. haidi: interesting time for tokyo. we're also coming into this seasonal very interesting spring period for investors, long-term investors potentially setting up for more out performers. paul: we have the markets open in japan. what are we seeing here? haidi: seeing some meet upside with cash trading. we'll be watching in familiar the growth-related names giving the aleveuation concerns of when these great cuts will start to come. we're looking in particular at medals. and money related gains. on the back of higher oil prices, higher precious medals, gold, silver and the like. the nikkei up by 1 : 25%. not much of a move by the yen. 158 is where we're at. that virtual floor continuing to hold. nadala from the u.s. h

more to come on daybreak asia.s is bloomberg. ♪ ♪ annabelle: taking a look at how commodities are faring, brent crude and wti are range bound. a little weakness in the prior session, given we had an oil inventory report showing rising u.s. stockpiles. opec and iea will release their report this week which will give us a sense of supply and demand pressures this year. iron is one to track, it is on a tear this week. that has given optimism around china's outlook demand. closer to the 110 level given that we were below the hundred dollar level a few days ago. gold to track given we saw a fresh record high overnight. speaking with daniel lam from standard chartered weld solutions saying you do not want to buy in at these levels, but we've seen a lot of buying from china in particular. let's stick with china for the latest developments we are tracking. beijing and russia have agreed to start a dialogue on eurasian security with the aim of counteracting the european atlantic alliance led by the u.s.. russia's performanc

that is it for bloomberg daybreak: asia.e continues with the start of trade in hong kong, shanghai, and shenzhen. ♪ and they're all coming? those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly. >> tuesday morning, you are watching the china show. ivanka: chinese equities in focus. investors welcome a strong start. >>

this is "bloomberg daybreak europe." diplomatic efforts intensify as israel weighs a response to iran's drone and missile attack. the west calls for de-escalation to avert wider conflict. markets show signs of stability with crude prices easing as oil traders largely shrugged off iran's assault. on hopes the conflict is contained for now. german chancellor olaf scholz arrives in china for talks with president xi jinping. on a mission to dial down tensions between beijing and europe let's check in on markets on the back of those unprecedented attacks from iran. this is not a market that for now is showing significant signs of risk off. yes gold is higher but treasuries are down, the dollar is softer and u.s. futures and european futures pointing higher. the context for the u.s. was that last week was the biggest weekly decline for u.s. stocks since october. on expectations that there will be higher for longer on the rights view coming out of the u.s. and stickier inflation with a stronger jobs market. u.s. futures gaining

>> welcome to daybreak australia. i'm paul allen in sydney. counting down to asia's major market opens. big u.s. tech jumping after the bell as earnings mostly beat expectations. a sigh of relief from investors worried about lofty valuations. elite rebound coming after markets were rattled by data showing starved inflation and slowing growth in the u.s. economy. it is decision day for the bank of japan. market players scrutinized for hawkish signals. plenty on the docket today. let's look at how markets are setting up for this friday in the asia-pacific. april hong is in singapore. >> it's a big day watching out for tokyo cpi numbers for the month of april do this hour. of course it's about the boj decision and more importantly whether we get hawkish signals. signals of quantitative tightening. the central bank is considering measures to reduce the levels of bond purchases, and in the meantime the likes of morgan stanley and mufg economists flagging a potential young shot from the tokyo cpi numbers because of a lack of clarity from the statist

more to come on daybreak asia. bloomberg. ♪ paul: just want to bring you an update on the earthquake in taiwan. 7.5 magnitude earthquake. happened 21 kilometers southeast of taiwan. this is according to the u.s. geological survey. very strong shaking at that strength. that was felt widely in the taiwanese capital. a tsunami warning has also been issued for a number of those small japanese islands that you see there just to the northeast of taiwan. also a tsunami warning for japan's okinawa prefecture. local residents told to evacuate. tsunami waves as high as three meters being forecast. sounds like quite a serious magnitude. 7.5 quake and tsunami warning for those southern japanese islands. haidi: we will be be -- keeping a close watch on that. president biden saying israel is not doing enough to protect civilians in gaza after the israeli military killed seven eight workers including an american in airstrikes. we are seeing reaction from australia's government as well, it's eight workers part of that death toll.

we have more to come on "daybreak australia." this is bloomberg. ♪ paul: airlines in the u.s.matic refunds to travelers if flights are canceled or altered. under new department of transportation rules, passengers are entitled to refunds for all travel to, from, and within the u.s. secretary of transportation pete buttigieg announced the policy. >> the biden-harris administration is requiring that if an airline cancels or significantly delays your flight, within seven days they will be required to provide an automatic refund to the credit card you used to book it without you having to call or wait on hold or serve through digital paperwork or haggle with that airline. paul: moody's downgraded boeing's credit score to one notch from junk even after the aircraft maker beat estimates for first-quarter earnings. the downgrade comes after boeing said it had burned through close to $4 billion in cash as quality issues plague output. george ferguson joins us. pretty scathing report from moody's saying inadequate performance, noting that cash burn, as we said. what does boeing need to

i have more to come on daybreak asia.is bloomberg. ♪ chris olaf scholz bring in the eu chamber of commerce and china president. great to have you with us. they will be one major message and we saw it. also be delivered by janet yellen on a recent trip. how effective do you think this messaging will be? >> we believe it is getting urgent. there are some very serious imbalances in the relationship. we have impressed upon the chinese leadership is something must change. it is a bit lazy and. >> what are you hearing on the ground from your membership? is it concerns? using worries about the deterioration of this relationship? >> the major concern is the state of the domestic economy. there is a low level of consumption growth. if you are not selling at home, you need to go abroad. we just collected data from her 1800 members. 36% are indicating the nursing overcapacity. 50% of our numbers are seeing decreasing markets. there is enough quicksand curious given the businesses that you speak to, what is the level of commitment to

♪ >> welcome to daybreak australia your.'m paul allen and we are counting down to the market open. >> i'm annabelle droulers. tech heavyweights lift wall street as a major test of sentiment is put upon equities. paul: tesla fast tracking cheaper models. annabelle: apples china sales plunged 19%, putting it third in a key market. paul: what's take a look at trades, risk on day. gold prices eased. gold etf could suffer, new zealand in positive territory. interesting day. numbers out of australia are critically, those numbers are using down from 4.1, big improvement outside the target band. bank of indonesia decision, consensus is a hold. we gave futures saw positive territory. bank of japan will focus on weakening the yen. were at 144 .77 and keeping our eyes on tesla suppliers. stocks surging following the call. annabelle: that's right. the company has slumped, but u.s. futures looking toward future gains but the story is focused on earnings. what else we were tracking was optimism and a bullish forecast. some of those are co

this is bloomberg daybreak: europe. these are the stories that say or agenda. stocks follow the u.s. higher on optimism big tech report healthy profits this week. but could troubles at tesla spoil the party? in europe, pmi data out this morning for clues on the health of the economy and the ecb's rate path ahead. plus, the u.k. governments controversial rwanda deportation bill is finally set to become law. questions remain over how the policy will work and when the first flights will take off. we are in earnings season, so we bring you the resorts crossing from french automaker renault and upbeat, the first part revenues coming in at 7.1 billion euros, above the rest of its of 11.4 3 billion euros. -- above the estimates. there has been decent demand for the revamped cleo. we are looking for any lines on the outlook for ev's more broadly. competition from tesla, chinese automakers as well. beat in terms of fourth-quarter revenue for renault. scf of at least 2.5 billion. estimates have been for at least 2.6 2 billion, so a little below the estimates. first quart

you can get a roundup of stories to get your day going in daybreak.scribers can find that on your terminals and it is available on mobile for bloomberg anywhere. customize the industries and assets that matter to you. this is bloomberg. ♪ annabelle: taking a look at major currency pairs, a little movement coming through. watching the yen closely. as we have been discussing, going to 160. which makes the risk of intervention in play. we're continuing to track that. japanese equity markets are shut. we are just seeing it weaker across the dollar. what could also change the direction is the fed rate decision, no change is expected. focus will be on the tone that jay powell strikes in his press conference, whether he needs to sound hawkish given we have seen resurgent inflation data. let's discuss in terms of the sounds or signals from jay powell and bring in jill, our news desk editor for today's big take. it is focused on fed speak index, which shows the hawkish pit it started in december. talk us through what the index is and what it is telling you? ji

more to come on daybreak asia. this is bloomberg. ♪ ♪ paul: former u.s.y secretary larry summers says the latest jobs report shows the neutral rate higher than estimates. he told us why the fed needs to reconsider expectations. larry: this was a hot report, jobs above 300,000. upwards revision, strong household survey, hours are up, payroll is up at nearly 10% annualized rates. this was a hot report that suggested that if anything, the economy is re-accelerating. this is very different from what lots of people, most people i think, were expecting and it fits the thesis that the neutral rate is much higher than people supposed and tight money is less potent than people supposed. >> you said before that the fed should have at least some idea of the neutral rate. we heard from chair powell this week in stanford, where he said yes, we are strict in policy and yet he said he does not need to worry about where the neutral rate is for policy going forward. larry: that is like saying we don't need to know what the neutral rate is -- it's like saying you should dr

it's totally worth it. ♪ kriti: good morning and welcome to daybreak europe. get to the stop stories -- top stories. magnificent seven driving a rebound with apple unveiling plans for a new chip. traders put the ecb on track to cut before the federal reserve. christine lead guard insisting europe central bank does not take cues from across the atlantic. j.p. morgan, city, wells fargo all set to report today. do not check out for the weekend. i want to get a quick check of markets. green on the screen, futures higher by 7/10 of 1%. the ftse higher by 4/10 of 1%. seeing complacency and caution in the u.s. market. futures are 52, unchanged despite the rally in yesterday's trade. not seeing investors hopping in or following through when it comes to futures contract. we were talking about complacency. we are seeing a 10 year yield at 456. really not much action. 107 on eurodollar, brent crude trading at 90 handle. in a few minutes we will have the latest figures at the top of the hour. looking ahead to former fed chair's review of the bank of england forecasting mo

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by daybreak, the incident was being down played was however, used as a state media reporting, the city was come and emphasizing that nothing was out of the ordinary for joseph. uh, there were some loud sounds that were heard in the east stuff. the city of us behind this was related to the air defense system, as though we told you, and our viewers before triggered by the presence of the 3 small drones that were present in that area. other than that, nothing has happened. everything is back to normal. us officials have supposedly told media that israel is behind the incident. it's will cabinets has been debasing its response to a large scale, a rainy and messiah tac last week. and iran said it had retaliated to a presumed is riley strike on the roms, embassy and syria. which killed 13 people. israel hasn't acknowledged the. it's the honda tech, but it's national security minister indicated he thought it didn't go far enough. posting the wood feeble on social media and condemned the suspected strike while egypt road for strange from old policies. the you and other regional leaders are als