to you both a reminder, any charts we use throughout the show, go to gtv on your terminal to gtv on your terminal 2 browse the features and check them out. coming up, we were just talking about an oil plunge. we will talk about what it means for companies next with christyan malek, jp morgan head of em ea oil and gas research. this is bloomberg. ♪ viviana: you are watching "bloomberg daybreak." ubs expressing both confidence and caution. the swiss bank says it can survive an increase in bad loans, but warns the coronavirus outbreak will put pressure on its wealth management business. ubs says falling asset prices will erode fee incomes. hsbc took its biggest charge for bad debt in almost nine years. europe's largest lenders saying in the first quarter, affected credit losses soaring to $3 billion. for the year, that could lies to $11 billion. ceo noel quinn had a plan to increase profits. the coronavirus outbreak has derailed it. bp building up its financial reserves to write out the coronavirus outbreak. the british energy company taking on a $10 billion credit facility. it

plus, if you have a bloomberg terminal, look at gtv .arts we are using throughout the program. gtv . this is bloomberg. ♪ viviana: this is "bloomberg daybreak." you're looking at the principal room. coming up, evercore isi chairman. ♪ viviana: you're watching "bloomberg daybreak." i'm viviana hurtado with your bloomberg business flash. we begin with united airlines. it says it expects to get $5 billion from the government payroll support plan and could use help. united saying he will cut 90% of its capacity in may and is expecting a similar cut back in may. shake shack will return its entire $10 million loan from the u.s. government. the loans are designed for small businesses hurt by the coronavirus. last year, shake shack had sales of $595 million. bloomberg has learned more than a dozen publicly traded companies with revenue topping $100 million received the loans. -- withith can see no casino operator wynn resort calling for parts of novato been in may, saying the las vegas strip -- las vegas strip should be open in the middle or

if you have a bloomberg terminal, any charts we use, go to gtv to check them out. gtv .s is bloomberg. ♪ viviana: this is "bloomberg daybreak." coming up later today, larry kudlow, national economic council director. ♪ welcome back. erik now, bloomberg's schatzker is standing by with david hunt, pgim ceo. have davids great to hunt with us. as ceo of pgim, he oversees $1.3 trillion. david, i know your first concern is for the health of your employees, for the health of the country -- but the health of the country has to be a close second. what is your base case scenario for how long the economy is in shut down? david: there's been an enormous amount of work that has gone into try to estimate the gdp impact, both for the u.s. and for the global economy. i have to tell you, i think this is largely an exercise in futility. at the moment, i think we are better off acknowledging that effectively, that is an unknowable question, and that we are better off focusing on the things that we do know and what we can take action on. we do know that this is going to be the largest singl

any charts we use throughout the program, go right to gtv .: you are watching bloomberg daybreak. i am viviana hurtado with your bloomberg business flash. general motors is taking steps to preserve cash at a time few people are buying cars. the automakers is spending its quarterly dividend payment and put it share buyback program on hold. major retailers are calling on u.s. states to adopt uniform reopening plans. trade groups representing walmart and best buy are sending a plan to governors instead of state-by-state. it proposers allowing warehouses and distribution centers to open all at once. ite they open their doors, outlines how retailers can maintain public safety. could could have -- bayer have big liquidity problems. the company facing 62,000 lawsuits that claim round up weed causes cancer. the big question is if bayer will settle and how much. there is speculation a settlement could cost around $10 billion. that is your bloomberg business flash. alix: thanks so much. time for bottom line. we take a look at companies worth watching. i

bloomberg users, check out gtv . any charts we used throughout the program, gtv .: this is "bluebird daybreak." i am viviana hurtado and you're looking at the principal room. coming up later, an exclusive interview with alan greenspan. ♪ viviana: you're watching "bloomberg daybreak." i'm viviana hurtado with your bloomberg business flash. tesla has risen six straight sessions, capping a 43% gain triggered by the electric car makers first quarter delivery report earlier this month. wedbush saying production and demand for tesla up your poised for significant rebound. sat is seeking a loan that would keep the satellite company afloat. bloomberg has learned j.p. morgan chase it shopping the debt loan to institutional investors. we end with an upstart streaming service. ceo telling viewers -- telling bloomberg the option may be available in coming months. quibi shows have big-name talent like steven spielberg and j-lo. alix: it is time for bottom line. we will focus on banking and regulations. joining me is rodgin cohen, sullivan & cromwell senior chairman. mosts been

bloomberg users interact with the charts on gtv .p with the analysis, all of that jazz. this is bloomberg. ♪ alix: this is "bloomberg daybreak." i am alix steel. coming up, an exclusive interview with the u.s. energy secretary. ♪ ceo of digital, you know him as a crypto guy, but the reality is michael novogratz is at his core a macro guy. my first question to you. you've done a ton of work trying to understand the potential for and the limits of coronavirus testing. macro guy, coronavirus testing. explain why. michael: when you talk to the public health experts, the minimum we need to be testing our 3 million to 5 million people a day. that is only if we include the pretty aggressive social contact tracing, i.e. someone gets it and we know who they have been in touch with. that is the minimum we need to get people to feel safe. otherwise we will just have these things break out again. that is the bottom. we are at an interesting place. and the tragedies are going lower. we have peaked. you can look and say in a weaker two it will fee

gtv .his is bloomberg. ♪ alix: just to recap morgan stanley earnings, adjusted earnings coming in at $0.99 per share. the wealth margin business, $4 billion, a little bit like. that is what the market seems to be focusing on. no doubt a question for james gorman as we interview him at the 10:00 hour. this is bloomberg. ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. ♪ welcome to "bloomberg daybreak: americas." i'm alix steel. a risk off day in u.s. equities. euro-dollar is still a relatively strong dollar story in the g10 space, particularly agai

we put it into the gtv library for our viewers. look at the march spread. nothing there.arket believes rates will be low for an extended time. how does the fed reinforce that market feel -- view? jane: the fed has a bit of history on its side this time around. after the global financial crisis, if we go back to the years when it was setting up its quantities easing regime, the market was anticipating that this would create a lot of inflation. what we got was very low inflation. we did not have my -- much by the way of wage inflation. the impact of that is going to say to the market, we will get past something of the same. market has been trained to anticipate that we've come to a certain stage in the development of our economies in the g10. we were not built to have a huge amount of inflation rate pressures coming through on cpi and wages. the market will anticipate that rates will be low for a very long time. that was the situation before the crisis. manus: jane. jane foley, thank you so much for your patience. have the societe generale ceo waiting on the line right now.

any charts we use throughout the program, gtv on your terminal. check it out.dit suisse putting aside $1 billion in loans. this is bloomberg. ♪ viviana: you are watching "bloomberg daybreak." the top u.s. aluminum producer is cutting cost and output. alcoa will suspend production at one of its plants. aluminum has been among the worst performing commodities during the pandemic. credit suisse's new ceo agrees it was a baptism of fire. thomas gottstein's first earning report seeing the bank take more than $1 billion in write-downs and provisions for bad loans, saying things are likely to get worse. >> we clearly assumed a significant reduction in gdp the second quarter of roughly 20% in the u.s., and in the high single digits in europe and switzerland , and for the full year, we expect recessions not only in the u.s., but also in europe, and to a lesser extent in switzerland, but also for switzerland. viviana: there is a bright spot for credit suisse. trading business to better than expected is your bloomberg business flash. alix: thanks so much. for more on cred

interact with the charts we use throughout the show at gtv . welcome back to bloomberg daybreak: americas. :a month ago our next guest word the commercial real estate was on the verge of collapse. i am talking about tom barrack, the ceo of colony capital, back with us. good morning to you in california. tom: good morning, great to be with you. month ago you warned of the commercial real estate market was on the verge of collapse and called for government intervention and bank intervention to prevent economic -- catastrophe. that was a month ago. where are we now. tom: it is a continuum of groundhog day. i think the government has done a great job. mnuchin,nse of steven jay powell, congress, the administration in addressing the of tapestries that need to be connected was amazing. we did in 18 days what took is 18 months in 2008. erik: does that mean the market is no longer on the verge of collapse? tom: not at all. i think when we talk about know we areu talking about three separate things. it is shadow banking systems and individual investors a

any charts we used throughout the show, check them out at gtv .: this is "bloomberg daybreak." i'm alix steel. you're looking at the principal room. coming up later, tom finke. earnings.wing its watch out for that stock. the bed throwing more kitchen sinks -- the fed throwing more kitchen sinks, $2.3 trillion lending facility. they will continue buying some junk bonds for those companies that have recently been downgraded to junk and they will be dipping their toe in buying etf. there also protecting their paycheck protection plan. betsy grayson covers -- betsy k covers -- betsy grasec banks for morgan stanley. it seems like banks will be taking on 5% of the wrist and the fed 95%. you think that is enough for banks to be willing to lend in this crisis? betsy: we would step back and morning, nice to talk to you on the phone. as it relates to the banks, they have been lending significantly over the past several months. there isshows something like a $400 billion increase in commercial real estate lending that has happened since december. that folds

bloomberg users come interact with any charts we used throughout the few hours on gtv . gtv -- this is bloomberg. ♪ viviana: i'm viviana hurtado and you're looking at the principal room. coming up, an exclusive interview with loretta mester, cleveland fed president. ♪ alix: time for bottom line. we take a look at companies and sectors worth watching. today we will take a look at your food supply. farmers in central workers are needed to ensure our food security. martin richenhagen, ceo of adco is the leading provider of agricultural equipment. you have such an array -- you have a huge perspective of where we are seeing problems. in the u.s., what food is secure and what food is at risk? i can share with you that all farmers are working. the food at risk are these foods which need workers from outside the country in harvesting. , in europe it is asparagus. things like that. mentioned last month you had some disruptions to your european facilities. does that mean you do not see disruptions like that in your north american facilities? martin: in our factories in the u.s., o

ceo and gtv capping -- capital managing partner will join us later.♪ >> let's get you a check of the latest headlines. starbucks says it has reopened almost all their stores in china but the pandemic is cutting sales in the mainland by up to 25% this fiscal year. same-store returns fell 10% globally in the second quarter. slightly above forecasts but still slumped by half in china. they say the virus impact on quarter sales will be greater. we will have a live interview with the ceo of starbucks at 10:30 p.m. wednesday home tom -- hong kong time. that is 10:30 a.m. in new york. caterpillar is warning that the fallout from the coronavirus will last for some time, announcing first quarter profits have trailed estimates. they say the current time will -- caterpillar shelved the traditional fourth-year earnings upendst as construction building and energy. reliance in industry plans the first and 30 years and looks to pay a debt. the market value will continue the share sale when announces earnings at the end of the month. announcedmerate has three fundrai

if you're looking at any charts throughout the show, check out gtv .rg. ♪ viviana: this is "bloomberg daybreak." you're looking at the principal room. coming up on bloomberg technology's, the doordash ceo. ♪ viviana: you're watching "bloomberg daybreak." i'm viviana hurtado with your bloomberg business flash. boeing will keep its seattle area airplane manufacturing hub closed indefinitely. the factory was scheduled to reopen tomorrow night after two week shut down but state health officials are still trying to contain a coronavirus outbreak. boeing suppliers are showing signs of stress. will reportedly scrap its profit targets this week for the first time since going public in 1987. it will also suspend its dividends. jet week shares of the engine maker plunging 31%. i am viviana hurtado and that is your bloomberg business flash. alix: thanks so much. time for bottom line. we take a look at companies worth watching this morning. today we will focus on green plains energy. we are joined by the ceo, todd becker. drop ink has seen a 77% the year as the oi

reminder, any charts we use throughout the show, go to gtv on the terminal.wse the features, check it out. coming up, oil moving higher on potential output cuts. a the flipside, exxon cutting $23 billion. to 23 billionex dollars. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." samsung posted better-than-expected profit in the quarter that just ended. the south korean electronics company's cloud business soaring. there's hope internet usage from people staying at home will keep rising, and that could offset the drop off in demand for smartphones and other consumer electronics. inbnb raising $1 billion debt and equity securities from silverlake and six street partners. like the rest of the travel industry, the coronavirus outbreak hampering airbnb's business. a possible ipoe this year uncertain. exxon mobil slashing spending by billions of dollars. capital expenditures are being to $23 billion. there will be if team percent cut in cash operating expenses. like allcompanies -- other companies, they are being hammered by the coronavirus outbreak. alix

any charts we use throughout the two hours, go to gtv on your terminal.iviana: the parent of mercedes-benz another company hammered by the coronavirus. daimler says sales and operating profit slumped. has startedsays it a gradual ramp up of production. ford forecasts in the second quarter, more than $5 billion loss. that is about $2 billion more than analysts projected. it is one more sign of how the pandemic is hammering the auto industry. ford expects to see in every region significant sales declines. the company also says it will delay until 2022 start of its self driving vehicle service. shares of alphabet higher today. cloud and parent's you do business is kept growing amid the pandemic. sales rising 14%, beating estimates. crumpled,, ad sales but still weren't as bad as expected. alix: thanks so much. 'sr more on alphabet ourings, we are joined by bloomberg analyst. a second. ads for do we have visibility of what it will be like in the second quarter? reporter: the pain is going to continue. we have some visibility for the .onth of april from strong

bloomberg users come interact with the charts shown using gtv .ana: coming up later today on bloomberg markets, joseph stiglitz, columbia university professor. ♪ viviana: you're watching "bloomberg daybreak." i'm viviana hurtado with your bloomberg business flash. we begin with frontier communications. it filed for chapter 11 bankruptcy. it is one of the biggest health company organizations and almost two decades. the company is a plan to cut $10 billion in debt after years of losses and wireless telecom. frontier provides internet, tv, and phone service in 29 u.s. states. the irs breaking for another epidemic. the tactics about scammers. they are trying to get their hands on the $1200 stimulus checks being sent to millions of americans. the rs officials warning it is an opportunity for scams and low-tech crimes -- that is stealing checks from mailboxes. and that is hurtado your bloomberg business flash. alix: time for the bottom line. we look at companies and sectors worth watching. today we will get a read of the economy and the trucking and fre

any charts we use for the next two hours, go to gtv on your terminal and you can check them out.oming up on the program, netflix tells investors we've got explosive growth, but don't get too excited. we will speak to matthew harrigan, an analyst over at benchmark. this is bloomberg. ♪ . ♪ viviana: you are watching "bloomberg daybreak." at&t joined a list of companies that have withdrawn their forecast for the year. at&t revenue coming up short. profit was in line with expectations. united airlines is stepping up efforts to survive a collapse in demand. united has raised $1 billion by selling new shares. the price was at the high-end of the marketed range. the government stepping in with $50 billion in grants and loads for the airline industry, but carriers are still trying to raise more cash. netflix is warning investors not to get too excited. the largest online paid tv network posting the strongest financial result in its history. it added a record 15.8 million subscribers. netflix benefited from the coronavirus pandemic. millions stuck at home signing up. netflix expects the s

charts we useny throughout the two hours, go to gtv under terminal.wse those features, check it out, and save all of those charts. this is bloomberg. ♪ viviana: you are watching "bloomberg daybreak." royal dutch shell cutting its dividend for the first time since world war ii. the ceo: the decision inevitable. -- the ceo calling the decision inevitable. shares of facebook are higher today. the social network reporting and 18% jump, and that shows advertising budgets were strong before the coronavirus outbreak hit. facebook also says in the first few weeks of april, business was steady. workingith the surge in from home boosting microsoft orderly sales and profit. there was increased demand for internet-based software and cloud services. units didce device better than microsoft projected. that is your bloomberg business flash. alix: thanks so much. speaking of the tech giant, wall street was concerned that the rally in stocks was too dependent on heavyweights like microsoft, facebook, all of the nowarch cap tech names, but small caps seem to be holding

any charts we are using throughout the show, go to gtv on your terminal.ou can browse all the features there and check it out. this is bloomberg. ♪ ut. this is bloomberg. ♪ ♪ i'm viviana hurtado with your latest bloomberg business flash. xerox dropped its hostile takeover bid for hp. the photocopier and printer company blaming uncertainty stemming from the coronavirus pandemic. electric,eral finalizing the $21.4 billion sale of its i/o pharma business. that brings in -- of its biofarma business. the unit to denna here. on monday, blackrock ishares gold trust attracting $332 million, its biggest inflow since 2011. taking in the fund almost $2.9 billion. that is the most since 2009. that is your bloomberg business flash. alix: thanks so much. joining me now is sylvia oflonski, managing director direxion investments at referee asset management. give me some insight as to how we are set up for the second quarter. sylvia: good morning. there are definitely some corona economics and the markets. i think when we take a step back and look at the markets, we see va

any charts we use throughout the show, no to gtv on your terminal.s is bloomberg. ♪ viviana: this is "bloomberg daybreak." boeing just announced moments ago voluntary buyouts to its 161,000 employees. no word on how money workers a company hopes to cut. boeing facing a sharp contraction in demand because of the coronavirus pandemic. about 44% of its global fleet are parked. the federal trade commission is suing cigarette maker altria. regulators want altria to unwind a $12.8 billion in vaping company juul. the ftc says the two companies are competitors who shouldn't be in business together. altria is vowing to defend the deal. still, it has already written down the value of the stake by roughly 2/3. softbank is scrapping the $3 billion deal to buy wework stock. last week, the stock repurchase was part of softbank's rescue package for wework, but softbank notified to the shareholders conditions for the deal hadn't been met. that is your bloomberg business flash. alix: thanks so much, viviana. institutional investors are the most bullish on stocks sinc