o 2 in the air because even if we have you know record drop in emissions this year the international energy agency is predicting 8 percent for the overall year that's about 2600000000 tons that's a huge drop it doesn't mean that the levels stop growing in fact experts say we would have to cut human made c o 2 emissions by 50 percent if we wanted to initiate a trend it's a bit like a ball stop you know shoot off the top running both up the levels but still rise the only way to actually turn things around is to switch off the top a switch off the top on you that's a carbon neutral economy and society will get us where we need to be. with countries desperate to get their economies going after this corona virus pandemic is there a danger that if i think climate change will be off the agenda for years to come. well there certainly is that risk because the economic crisis we're facing the global recession that we're in for millions of jobs at stake also the pandemic these are very imminent threats far more concrete and tangible to many people than climate change but climate change let's not forget is by

>>before the pandemic diva toured with the international energy agency says oil was expected to have a great year we had predicted a 2% increase, but then came the coronavirus pandemic almost immediately. the economy became paralyzed the stock market tumbled and the oil industry took a hard hit now we're looking at a 20%. >>decrease this is almost billion while turks as the road to recovery won't be easy steven alley with the u.s. energy information administration says good news is the worst has already happened but we do not expect consumption tree turned 2019 levels by the end of 2021. >>iea predicts the energy industry won't fully recover for over a year. >>and that's the optimistic view we don't want a government bailout freak much your with the american petroleum institute says if congress wants to help they should focus on safely and swiftly reopening the economy the quicker we get people back safely. >>to work. back to traveling back to a normal day to day routine the better albee for industries across the board but until that happens montana republican senator steve daines sa

as we heard, the international energy agency says oil demand will rebound next year.seeing demand much better than the worst case and area projections they had, but they are now questioning or pretty much determining that recoveries to precrisis levels could take a couple of years. just to underscore how the opec player separately cut act on their production to try to help stabilize the market, saudi oil experts are so far on track to be at their lowest levels in 35 years. traders sayinge ahead of the u.s. weekly inventory data? su: they are saying that another round of bearish data could really put the market once again to a volatile session. if you look at the last five days, you will see we have up days and down days, but within those days, there have been wild swings. the latest session was the perfect example. they say it has stockpiles rising by 3.9 million barrels in the past week. that is on top of last week's government report showing a record high 538 million barrels and that despite u.s. production having declined by 2 million barrels per day since mid-marc

what we found out today from the international energy agency, it warns that fuel usage will remain 2.5% lower next year than in 2019 due to the dire situation of the aviation sector. we are delighted to be joined by fatty be role, the -- by fatih birol. we are all -- with our we already seeing global oil indices starting to drop? gettinge seeing demand stronger. wasess weaker than it before. mainly driven by china. china's oil demand come as we , is basically equal to what they had before the crisis. are gettingountries out of the lockdown, and what we are seeing is demand is getting stronger, and if you put aviation aside for moment, we believe that mid next year, equal oil demand will be to what we had before the crisis. aviation put aside. is a different context. consumption is about 7% of the total oil consumption. there are two uncertainties here. the economic rebounds and also there will be a second wave of coronavirus or not, but in the absence of the second wave, with a decent economic rebound, we aside,l see aviation put 2021 come in mid next year, oil demand comes to the same

the oil business is going to be appreciably smaller weed and war importantly the energy international energy agency believes that people are going to occur sometime around 2 thirds 2035. 15 years from now so my suspicion is that oil will still be a big profitable and viable business for a substantial period of time now the truth is with it's something ma'am we're going to be more of all forms of energy oil and gas nuclear alternative energy one any what we're going to need more and or oil and gas are still extraordinarily efficient economic fuel they generate an awful lot about what from an awful small volume of fuel transportable and there's lots of infrastructure needs nests worldwide to make that energy useful to many people recruit the c.e.o. sprout holy thank you so much for that expert insight. always a pleasure thank you. and finally before you share that article twitter wants to ask you twice before it's posted but according to the social media platform this is not a form of censorship they claim people are sharing articles they simply haven't read and are looking to put out less false info

focus on the markets but we are getting some headlines for the international energy agency. the focus on what they see oil demand like in the coming years. oil demand will not fully recover until at least 2022. that may have an impact on the price of oil. new york crude wti pretty much flat. markets focused on this extra stimulus. we are also expecting to have more data points with damage the economy. plans with sentiment in the wave of -- it would also be great to look at treasuries and things like that. let's get a bloomberg news here in london. president trump is weighing an infrastructure proposal worth nearly $1 trillion to spur the u.s. economy according to bloomberg sources. the plan would reserve most of the cash for traditional work such as roads and bridges but they would also go to wireless and broadband pretty -- broadband. ae eu and u.k. seem closer to brexit deal. russells is confident boris johnson is willing to compromise and the prime minister said chances of agreement are very good. injected new momentum into deadlocks negotiations. the supreme court has ru

infrastructure the international energy agency warns crude won't recover until 2022 as airlines weighon the industry we'll speak more coming up >>> nbc confirms north korea has blown up an inter-korean liaison border office after a threat to send leaflets into the country >> let's get a check where we stand in terms of markets. we have the dax leading the way higher up 2.3% the ftse 100 trading and we saw strong gains come together after the federal reserve announced they will begin buying individual corporate bonds overnight that report to potential of $1 trillion coming from the u.s. government all of that supportive of the markets. we are seeing strong demands for the most cyclical parts of the market we have construction and materials on the way higher. also travel and leisure and along banks and basic resources. nearly 400 points of gains expected for the dow at the hope if these levels hold s&p and nasdaq also posed for stronger start data out of the u.s. with retail and industrial and housing market production. a lot today clearly the message has been support, stimulus support

vonnie: that was the executive director of the international energy agency.oming up, we speak to kim dixon of fedex office about her company's new push to help small businesses during the pandemic. this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn. investment grade bonds that will help fund its exit from bankruptcy. the utility is issuing mortgage bonds in as many as six parts. the offering may total $6 million, totaling to the total package of $11 billion. hit with billions and liabilities from the wildfires. retail sales soared from april, more than twice the forecast. was well down from this time last year, even with the improvement. the value of sales was more than 6% below that level. two european union antitrust investigations in its pay.tore and appple they will also look at their use pp inndatory use of their a certain systems. latest bloomberg business flash. let's get a quick check on the markets. on.ad a nice rally early the s&p 500 is up 2.3%. the nasdaq is up 2%. the dow, 2.5%. coos get to fedex office kim dixon joining us

the international energy agency talking about what it will take to lock in a drop in omissions, and ifpending the money, why not spend it on that? joining us is the author of the report, fatih birol, iea executive director. it is a very comprehensive report. if you are going to spend money, where will you get the best bang for your buck? fatih: ideally if you look around the world today, many governments are about to make hugely consequential decisions if they are preparing stimulus packages, recovery packages. $9to now, there are about trillion, $10 trillion, but more to come. it is important that the governments in the system is packages include energy policies in order to create a better energy future, cleaner and more resilient energy future. the policies we are suggesting additionalng growth, growth to the global economy, and helps to create jobs. ng touggestions are aimi reach three goals -- one, boost economic growth. second, create jobs. third, to have a clean energy system. this is the reason we made this report with the imf, and we have released this report today, and many go

it may take a couple of years for global oil demand to recover, according to the international energy agency. theiea says fuel use around world will remain 2.5 percent lower next year than in 2019, largely because of what the agency calls a dire situation of the aviation sector. they also predict that output cuts and shutdowns should put the oil market into deficit next year. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> just announcing the fact of moving forward with individual bond buying suggests that much more of the capacity of the fed has talked about using up to now will get to work and put to work rather soon, and that is an increment of positive -- an increment of positive. that is a huge positive for the credit market over the last several months. down to the opening bell, one hour and 12 minutes away, with equity futures dancing higher on the s&p 500. we advance 55 points, session highs going into u.s. retail sales on equity futures, in a rou

. $3 trillion could shift the climate change narrative, according to the international energy agency.ew report looks at what it will take to lock in this year's drop in emissions. carbon dioxide emissions could end up falling by 14%. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> are krister ball -- are krister ball is a little murkier -- our crystal ball is a little murkier than normal. delta airlines ceo ed bloomberg a little earlier this morning. a tough road ahead for this industry. from new york city this morning, good morning. alongside tom keene, i'm jonathan ferro, together with lisa abramowicz. looking at your market this morning, with equity futures down almost 20 points, off by 0.6% on the s&p 500. taking a look at the bond market just quickly, yields are lower by three basis points on the 10 year to 0.71%. year.ub 1.50% on the 30 the dollar largely stronger against the euro by not even 0.1%. sterling is where your underperformance is,

the international energy agency predicts 2.3 million could be sold in 2020, slightly more than last year good news for the environment, as the adoption of more electric cars is needed to drive down co 2 emissions and air pollutions. >> that's a decisive one to push electrical mobility. >> there's growing pressure to feature green energy initiatives in any coronavirus economic packages. we actually thought the market will need sustained and committed support by policy makers. >> the pandemic will prompt challenge for most of the world, an opportunity for electric vehicles to drive a new chapter in our global energy transition is taking shape. (soft music) - [female vo] restaurants are our family. the cornerstone of our communities. and our family needs help. right now they're facing a crisis. and they're counting on your takeout and delivery orders to help them through. because if we don't treat restaurants like family today.. they might not be around to treat us like family tomorrow. grubhub. together, we can help save the restaurants we love. yeah. this moving thing never gets any easie

prices are being helped in part by news out of the international energy agency.lies fell by 12 million barrels per day. tyler, supply, demand, higher prices are near the highs of the day. back over to you >>> our next guest ti lirlman s he's not expecting business and the economy to just roar back to normal in that sense he's rather like chairman powell. not in the v shape recovery group. welcome back the notes say you're seeing a pick up in traffic at your restaurants and yet at restaurants you're still down 60% year over year that's consistent with what courtney reagan was reporting a few months ago about those retail sales numbers >> we're improving drastically in which i'll show y'all what i think of the v coming back this is my lazy v right here this is where we were and this is where we are now. there's great retail sales now look how far we have come. the problem is we got to get all the way to here which i think is at the end of '21. it's going to take the middle of 21 you're talk about two years from now is how long it will take not a true v i would say

today, the un's energy experts, the international energy agency, are calling for a sustainable recoveryment of a trillion dollars a year from next year on everything from wind and solar projects to home insulation to cycle lanes. it's a vast sum on paper, but less than 1% of the world's economic output each year and the iea claims it would create or save around 9 millionjobs a year. joining me now from paris is dr fatih birol, executive director of the unternational energy agency. doctor fatih birol, thank you indeed forjoining us in the early hours this morning. i wa nt to early hours this morning. i want to ask you first of all, do you simply see this as a great opportunity for an acceleration, and something you have been pushing for, for a good while? i think this is a once ina good while? i think this is a once in a generation opportunity because governments are about to make hugely consequential decisions about our future. consequential decisions about ourfuture. how? consequential decisions about our future. how? they consequential decisions about ourfuture. how? they are preparin

oil demand may not fully recover , according to the international energy agency executive director.re he sees consumption bouncing back. >> we are seeing demand getting stronger. weaker thang less it was before, mainly driven by china. china's oil demand as we speak now is basically equal to what they had before the crisis. tom: what would you predict price would do? i don't want to quote to the pennies, but give me a sense of what oil does from 40. higher, lower? i have no idea. >> there are so many uncertainties. word, it is expected by almost all the financial institutions to rebound. if there is no second wave of coronavirus, i would expect the oil crisis remain at these , giving a boost to some of the shale producers in the united states. that was the iea executive director. indian markets, taking a look at them. looking at the moment perhaps a negative start to the session. we are about 20 seconds away from the start of the trading day. we have already got price discovery so we are already seeing weakness. the indian tycoon who built a fortune rolling out supermarkets across t

3 ministers here have referred back to the access that iran has been denying to the international atomic energy agency in saying well iran really needs to allow the inspectors from the eye to do their job but the clear from here is that the 3 european powers who are in better agreement with the chinese with the russians they say that the route they are taking right now they believe is the route that will keep iran within the terms of the treaty in the long term the final settlement of humanitarian aid have arrived in yemen as the u.n. suffers a funding crisis there were more than 40 tons of medical equipment including ventilators and testing kits were flown in to help the country battle coronavirus the nigerian military says it's killed several high ranking boko haram leaders in a series of airstrikes on a village in the northeast the settlements was reportedly being used as a training ground for fighters. has more from. the strikes were carried out over the course of 2 days after days of surveillance according to the general military and they were sure that some of the leaders of boko haram fighters

the international atomic energy agency that serves as the nuclear watchdog said on friday iran continues to violate key terms of the nuclear deal by enriching uranium and developing a stockpile at limits that exceed the agreement. a research fellow at the institute for national security studies specializing in iran believes iran is set for nuclear breakout by the end of the year putting us ally israel in a difficult position. >> if iran continues to reduce its commitment to the jcp oa that means it is a matter of a few months israel will be in the same dilemma it used to face a few years ago between a bomb and bombing. >> america and its allies are running out of time to handle iranian nuclear development. if donald trump doesn't return to the 2015 nuclear deal or find some sort of solution in the coming month iran by next year could join 9 other countries and have a nuclear weapon. jillian: one of the republicans behind the sanctions package joins us live in the next hour. congressman mark walker will help us unpack everything that is in it and the toll it will take, stay tuned for that

agency is: or you run to provide inspectors access to sites where activity is expected. activities are have thought to have been before iran signed a landmark 2015 nuclear deal. international atomic energyhas no legal right to inspect those sites. global news 24 hours a day, on-air, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. startscoming up, europe negotiations today over a 700 80 billion euro stimulus package. primeak with the former minister of ireland, john bruton. that is coming up on "balance of power" on bloomberg television and radio. ♪ sion and radio. ♪ david: this is "balance of power" on bloomberg television and radio. i'm david westin. european leaders today began negotiations over roast planes to inject 750 billion euros into the economy. welcome now john bruton, who served as the prime minister of ireland and the eu ambassador to the united states. thank you for being with us. give us a sense of what is at stake here. we have reports there is some division in the european union about this, particularly how it is financed. union haseuropean been hit very hard by covid-19. hit

official says he will travel next to meet with members of the international atomic energy agency to discuss iran barring inspectors from its nuclear sites. around dismissed the american effort. >> to return to the law of the jungle by surrendering to the whims of an outlaw. >> secretary pompeo has threatened to exercise all diplomatic options to extend the arms embargo, officials essay that includes trying to force the u.n. to restore international sanctions for its violations of the 2015 iran nuclear deal. iran also issued an arrest warrant for american officials involved in a january operation that killed iranian general, a top the list a demand to arrest president trump. interpol rejected the request. >> live at the state department, thanks. tomorrow i will have an exclusive interview with secretary of state mike pompeo right here, 6:00 p.m. eastern time. a lot to talk about with the secretary. up next, for the first time in nearly three months, joe biden answers questions from the media, we will bring you out on the campaign trail. first, here's what our fox affiliates around the countr

enriched uranium stockpile almost 8 times the limit set by the 2050 nuclear deal the international atomic energy agency says for months iran has denied it access to sites of interest in nuclear deal allowed iran up to 300 kilograms of enriched uranium but the u.s. unilaterally withdrew from the event 2 years ago qatar's foreign minister is hoping and new initiative to end the land sea and air blockade imposed on the country may produce results it's exactly 3 years since neighbors saudi arabia the united arab emirates egypt and bahrain isolated the gulf states. yes there is a proposed initiative and there is a positive atmosphere around it and we hope that it leads to positive results. there were negotiations between saudi arabia and qatar which i talked about last year unfortunately that negotiation some success which the general public may take there ended abruptly from the saudi side they may have their reasons but did reasons were not clear because the negotiations started positively and ended abruptly as i mentioned and things escalated shortly after. a friday is world environment day and the un is

3 ministers here have referred back to the access that iran has been denying to the international atomic energy agency in saying well iran really needs to allow the inspectors from the eye to do their job but the clear from here is that the 3 european powers who are in that agreement with the chinese with the russians they say that the route they are taking right now they believe is the route that will keep iran within the terms of the treaty in the long term dominic him there for us in balance thank you very much. now india's prime minister has assured opposition leaders the country's borders are secure and the military is capable of defending them and render modi said the entire country was hurt and angry of the 20 indian soldiers were killed in violence on the disputed border with china on tuesday it's caused a flare up of anti chinese sentiment and one of india's biggest trading associations is now calling for a boycott of thousands of chinese products elizabeth purana reports. gathering the chinese products from the homes and setting them on fire. burning effigies of president xi jinping along wi

the international atomic energy agency that serves as the u.n.uclear watchdog set on friday that iran continues to and dr. ross is and presented his research fellow. he says that iran is set for a nuclear breakup by the end of the year. and, we are continuing to the jcp way, that to me is a matter of a few months. that's between a bomb and bombing iran. >> they are trying to curb iranian nuclear development, and according to this expert iran could have a nuclear device as early as next year. if president trump doesn't return to the 2015 nuclear deal or find an alternative solution. >> ed: a judge enhancing the charts against a former minneapolis police officer accused in george floyd's death to second-degree murder and second-degree manslaughter. one u.s. senator says the case is going to be very difficult to prosecute. plus calls to defund the police in many cities across america and now the mayor of new york is calling for cuts to the police budget. but our next guest says the cuts could jeopardize public safety, coming up. >> mayor de blasio,

of energy typically doesn't get involved in clinical research or in our laboratory does not have online internal [inaudible] related to clinical work. it's largely the distinctions between the agencies in the network but we do have collaborators and i personally [inaudible] i have colleagues in chicago include go trials and i have talked to those people so personally we have context but institutionally the department of energy typically the laboratories they support aren't as involved in clinical work. >> let me turn for my last 45 seconds. at harvard national collaborations with colorado and a bunch of others but harvard collaborates with everything around the world and when did your medical school and when or how you do get engaged in this thing? the minute we heard about it with china or how did that go? >> i agree that the scientific community acted early but acting early involves having information and i think that comes from the top in this case. information out of china was challenging for medical professionals to understand and so by the time that people started to gear up here that made unfortunately earlier had the administration and everyone else in the government to set