dbs will assess the virus impact and adjust dividend policy as appropriate.they are saying that earnings are sufficient for maintaining their quarterly dividend. interesting that they are saying their total loans for oil and gas is $23 billion. they have had exposure to the trader that confessed to hiding about $800 million in losses. the dbs ceo saying there will be , buttrenchment or pay cuts they are hiring judiciously. haidi: we are also getting an update when it comes to mining. gold-mining here in australia, saying they plan for an equity raise near 1.1 australian dollars. we also had new crest reporting key output as well as production numbers. including 100 million australian dollars for nonwritten share purchase plan. largely maintaining its outlook and guidance despite some disruptions. all right. lots more to come. this is bloomberg. ♪ a quick check of the latest headlines. almost $1hartered, billion potential bad loan losses because of coronavirus. they reported the biggest provisions for five years as client saw trouble. 12%t-quarter earnings sli

trump once told me that he thought tvl, the early db dvr ws the best invention ever. he watches the network morning shows and watches the network evening shows, and he reads "the new york times" even as he vilifies "the new york times." he consumes the media and he's an expert on media, he loves to see his name and prints are on the screen. >> no doubt about it, some of our viewers will watch this and will say justice kavanaugh was treated horribly by the media. joe biden, they see you and some of your colleagues in that briefing room and they say you are just playing gotcha. here's your fair chance to respond. >> "abc news" is about to post a story on allegations against joe biden. when i go into that briefing room i'm not asking questions of joe biden. if i was a would be a different set of questions that when i'm asking questions of donald trump. there is no question, and he's going to have to answer these questions and i think you are seeing the story as more evidence has come forward to. it's being covered and in fact i think it's on the front page of "the washin

we will look to dbs trading soon.th the ceo of fortescue metals. that is coming up later. this is bloomberg. ♪ ♪ >> it is 9:00 a.m. here in beijing. welcome to "bloomberg markets: china open," i'm tom mack kenzie. david: i'm david ingles. we're extending the gains we had over on wall street amidst optimism about a treatment for the coronavirus. oil futures are rebounding as we speak after dramatic declines. tom:

dbs said to be among -- which filed for protection. flipping the page, the bloomberg dollar index. it does look like investors are looking for havens. new york crude down by 13%. gold lower as well. we have president trump upping the ante, suggesting china may have deliberately caused the coronavirus pandemic, saying there will be consequences if the country is known -- found to be knowingly responsible. beijing saying the u.s. is trying to shirk its responsibilities. another move to ratchet up tension between the two nations and the handling of this pathogen. tom: absolutely. every markable u-turn from the u.s. president. he was praising china handling the coronavirus crisis. trump see me to suggest the chinese -- seeming to suggest the chinese may have released theycoronavirus, saying if are knowingly responsible, they will face consequences. deborah birx, a member of the task force, she said china has a beal obligation to transparent in its response. there does seem to be an effort from the republican party to blame china. criticismtrump facing over his handling of the virus. ag

three db the beating you to commit mass it is also the city say. it to solve it on the bad with the data dpw mastodon tamil get plus account to do said. he because he does n not have the song was aussie. off calls. chief f health officer franz jones speaking out little earlier. the manual microns has been to britney and finish that michael thank the workers involved in supplying food to the shops. and supermarkets across france to describe them as the second key line of defense againinst the curb at nineteen virus this wednesday ministers have been tapping that plans for t the post lockdown period. gentle to start cold on. eighty private sector have been laid off during the coronavirus lockdown and now benefiting from an extended indemnity program. t to weather the crisis president macron vowed that no company will be abandoned to the risk of bankruptcy when n announcing the wididespread. business club is instead hope what is implemented on march the seveventeenth is got last week faceced a- baggggage. to o opt o billion euros extenended the temper

flagged an $8.4 billion loss most coming from troubled investment in wework dbs, southeast asia's biggest bank the drop in the q 1 profit with a drop in loan loss provisions we know what has happened in oil and gas. the company confirming most of the exposure with state-owned companies. brian, back to you >> matt taylor, thank you, buddy. whatever stocks are doing worldwide does not take the pain away from thousands of american families dealing with sick loved ones those souls lost because of this terrible disease but there is some hope this morning. >> here is the latest. dr. fauci says an experimental drug to treat coronavirus has shown to have effect trials involving gilead's remdesivir showed that the trial time of 11 days versus the 15-days in the group president trump working as quickly as they can to treat coronavirus. making the drug available as quickly as possible as appropriate. jay powell says the economy will need more help to keep the country robust powell said yesterday, there is still plenty the fed can do. >> we are committed to using a full range of tools in this challen

miller spoke matt with the db k cfo to go through the figures. >> the continued balance sheet strengthnly visible in our numbers. the 12.8% ratio remain strong. our liquidity remains strong. that is obviously a good foundational starting point. you are seeingt is the impact of restructuring and the strategic decisions we made last year. we were gratified to see the business performance and the core bank in particular, where revenue growth is 7% and expense reductions at 4%, we created 11% operating leverage year-over-year. that is demonstrating both on the revenue side and on the expense side the impact of the restructuring is making itself felt. those would be the things i have focused on. is stillll performance weighed on by the cru and the losses in the cru, but even there we are progressing in line with our plans, both for deleveraging and cost reductions. matt: are you seeing more consumers to small and medium enterprises ask for leniency in terms of repayment? james: we have had a significant number of applications under the german law for moratoriums. months.ends over three we h

place in the next hour that will be carried on the cable show on bloomberg radio on onritual -- on dbb digital radio. if you're watching in the united states, the conversation be more on what is happening in u.s. politics. we will bring you the story from both sides of the atlantic. alix: speaking of politics, coming up on "balance of power" with david westin, he will be joined by former u.s. treasury secretary jack lew. check, a quick rap of what is happening. it will be interesting what jack has to say. certainly a man with experience. this is the story in the states. the dow up 2.5%. european markets trading sharply in the red. the s&p 500 up 2.2% and the nasdaq 1.85%. volatility continues to drop the vix at 4329. me, this isd bloomberg. ♪ david: from new york to our tv and radio audiences worldwide, welcome to "balance of power," where the world of politics meets the world of business. we will start with a check on oncks which are up, may be news that bernie sanders has withdrawn from the race for president, leaving joe biden the presumptive nominee. with a full report on stocks,

pronoun is that when newspapers use it when it's used on tv shows of the group watch any standing on dbs, you will find a couple of episodes where they have discussed. it is full enough known in sweden that you don't have to explain what it is when it appears. diana: we are definitely not there yet. it is something that it still frequently get people, while i remember it as it is an i interesting, i watched it regress over five years where for a while, not even using it unless i was speaking with someone who i knew already knew it. the other person would not rated when i think that. then i noticed that that started to change. i would be surprised when somebody knew the terms of gender who i do not expect to. and widely now but it is still not known or that widely and i would often have to define it for people. and yet, it is not like it was out there. dennis: there are plenty of people who do not know that there is a safe pronoun issue. on the part of this conversation and one of the things that i hope my book is useful for is when somebody is new to the discussion, that this will give t

it does not apply to anyone who does not receive services through dbs. to followbe happy back up with you offline on that, but i know that our commissioner has been working vigorously on this issue with extreme compassion with the hospital association. >> ok. dr. carter, what do we know about the nursing homes and the staff there? and the air systems? are they able to properly cohort patients with covid? >> what has been happening with the teams that have been going to the long-term care facilities is to look at the implementation of control measures at each of those places they go to. one of the biggest issues is making sure that not only do the workers have enough ppe, but they know how to use that equipment. cohorting is possible in many facilities. at this point in time, we have a leveling off of cases in nursing homes, which is part of the leveling off we are seeing across the state as well. i think we are in a much better position than we were a month ago. were occurring rapidly in long-term care facilities and the supply of ppe was very low, and s

i'm a financial regulator and i think somebody's stories of the db needed telling for far too long sothank you. >> where are you regular? [inaudible] >> i like to ask about i'm sure you're where val, i can't pronounce his last name, i'm sure you're aware that val is very active on social media and are not actually portraying his version of events. his theory of what he's saying is generally it's much more direct, the connections between money mongering through deutsche bank to paying trump, the nuts and bolts of it. i have finished a book and i don't like to go that deep into it but he's pretty adamant you do not touch on that, at least to the extent he wishes you did. i was hoping you could comment on the. >> i was hoping someone would bring this up because i'm going to answer question i promise you but let me just step back a little bit first. so val and and i go back aboutx years, and one of the things i'm good at as a journalist it turns out i'm really good at working with sources and the good at getting people who are not supposed to talk to talk, and that, i'm not very good a lo

dbs investment group chief investment officer. let's quickly get to this deal taking place.cebook has taken a near 10% stake in, investing some $5.7 billion in various platforms. this partnership will offer innovative solutions jio --ying looking at that stock certainly when the indian session gets underway in 33 minutes. we will also be talking about e-commerce elsewhere. we have one of south asia's biggest such companies telling us how it is gaining the trust of new customers amid the pandemic. its ceo joining us later this hour. haslinda: up next, singapore boosts stimulus as it records another day with more than 1000 new infections. we have details just ahead. this is bloomberg. ♪ rishaad: a briefing in about 45 minutes noon hong kong time. they have approved the new hong kong civil service head. this is also -- the approval came through of a new hong kong mainland affairs chief as well. it was flagged in various news reports before, but we are getting some confirmation with regards to the changes in top political positions, or nonpolitical when it comes to the civil ser

i played by db else. i... it really highlighted me. it was a wonderful thing for me and a huge turning point in my career and a piece of art i am really proud of. iam and a piece of art i am really proud of. i am really excited that millions more people all over the world get to see that tonight. absolutely fantastic. ben, great to talk to you. thank you forjoining us. thank you very much! schools go backin us. thank you very much! schools go back in south korea for online lessons for the first time since their winter break. the government says all students across the country will be given the technology to learn. laura bicker reports. it's difficult. 0ur teacher is having difficulty talking in an empty room, right? this is not how the teacher wanted to greet her first year students. you see me, 0k, let me see... she never dreamt that her phone could become a blackboard, or that she would have to introduce herself online. i spent my vacation with keeping social distancing... at first, i was so nervous, an

. >> my name is linda and i'm very irritated and frustrated because i feel like db -- i have a 12th 12th grader and a junior high school student. he is having a break-down and in a state of depression because due to the fact that everybody will be graduating and, unfortunately, i've had about over ten people graduating and he be the only one that didn't get to graduate. my concern is that what is you're plan with the kids that is under depression and going through what they're going through? another thing, quickly, is to ask about these computers that you all gave to these kids? because,ism, , unfortunately, ia daughter that is in 4a, and i do not want this to come back and bite her. if she uses this computer or breaks this computer and i have a lot going on in my mind and i'm so depressed. i'm stressed out and it's horrible. it's horrible. my son is crying and i'm crying. and he's, like, give it up. he's if the 12th grade and don't give a damn no more. i don't know how to help my son or what feedback to give him because everybody in my house has graduated and he will be the only one, th

unfortunately the world health organization is in the pocket of china, especially tedros, when he was investing db them actively there, he has a well-known and frankly well deserved reputation for corruption that's gone from ethiopia to the w.h.o. that's why the president was right that we need to condition future funding. in the admission of taiwan, at least on as an observer to the w.h.o. if we can't do that then we have to establish our own organization and invite members of the civilized world to join us using american standards of transparency and accountability. >> ed: senator, you just mentioned the director of the world health organization. he fired back yesterday and had a warning for the president and may be for you as well. >> if you don't want many more body bags, then you refrain from politicizing it. my short messages, please quarantine politicizing covid. >> ed: he said if you keep this up there will be more body bags. is there a point regardless of back and forth of cutting off funding to the world health organization that's trying to prevent future pandemics i could backfire on us

look at the people on your screen you're showing of what's going db how about the firemen and the copsin front of our place last week with their sirens and their lights praising and cheering on our workers who were back in that hospital taking care of people. joe, look, there's a fine balance here to me the worst thing would be turn loose and we're right back to where we were that would be tragic that would be a monumental problem. right now i think if we listen to the doctors, if we listen to the science, if we look at the data, i think we're going to be able to ease back in becky you asked me a question. my guess is, i'm hoping within 30 days from now, by the middle of may, we'll start to see normalcy returning how do we open up restaurants and make sure there are space between tables that makes a difference. how much rent you pay and you make money by seats. the greatest thing we have going is the spirit of this great nation and the people of this nation that are the heroes we can all be a hero if we comply so, joe, i'm ducking the question when and if yeah, you're right we were all