karina: that is your "business flash." alix: thanks so much, karina.of the things we want to watch in the market is bitcoin. elon musk tweeting "do seem high. lol." guy: his influence on the market is amazing. he is the swing factor. amazing, the influence he has. compare it to janet yellen, treasury secretary, out with comments -- bitcoin is highly speculative and people should beware. bitcoin is used for illicit finance, it is inefficient. that is a damming indictment of bitcoin from janet yellen. alix: in the same thinking we are not going to include this in the ecb policy, what are you talking about. that drives retail investors and the bubble and the euphoria we have seen. we are lucky to have richard baylor, a nobel laureate, joining us next. this is what he does. he discovers how people understand the psychology. we will talk bubbles and reopening with him after the break. this is bloomberg. ♪ guy: you looking at a life out of the house of commons here in the united kingdom. prime minister boris johnson scheduled to arrive a few moments from now

for now, we go to karina mitchell with the first word headlines. karina: thank you. stock exchange opening in myanmar after the military rallied at the commercial capital, while backers of aung san suu kyi were involved. meanwhile, failing to bridge differences with the former prime minister of italy, and the speaker of the lower house found no agreement among groups who originally supported him. mario draghi is now seen as a favor to become prime minister. italian politics are deadlocked amid the coronavirus pandemic. meanwhile, former president trump''s legal team says his impeachment over the u.s. capitol storming is "substantively wrong and should be thrown out," and this is ahead of a senate spearing, -- hearing, saying that his speech was protected by the first amendment on january 6. and going ahead despite the coronavirus state of emergency, the president of an organizing committee says the event will take place no matter what happens with covid-19, echoing optimism from the ioc itself with a final decision expected in coming weeks. global news 24 hours a day

i'm karina mitchell.this is bloomberg. back to you. paul: just want to get you across market action in australia. mccoury group shares rising by 6.5%. this after the company giving some full-year guidance. it does expect full-year profits to be slightly down on year because of trading conditions improving in the third quarter. previously, they had said the profit would be significantly down. that was at the end of the first have paired an improvement on significantly down. we are seeing some gains. the bank warning it does say it sees market conditions remaining challenging. shery: coming up next, the market outlook. why she is optimistic about the recovery. is inflation a real risk? the lunar year will look very different in 2021. a ceo tells me where virus restrictions will hit airlines the hardest and what can be done. this is bloomberg. (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotraine

let's get to karina mitchell. karina: good news on the vaccine front.r of people receiving at least one dose of vaccine worldwide has now equaled the total number of infections. one hundred 4 million jobs have been administered. astrazeneca and oxford university are working on a reengineered shot that protects against new patients. moderna is offering its vaccine to south africa in the first deal with that continent. the first tennis major of the year is in dealt with hundreds of australian open players, coaches, and event staff back in isolation after a hotel worker tested positive. melbourne had gone 28 days without a new infection and everyone at the hyatt is now considered a potential contact. at the tournament is scheduled to start on monday. the world economic forum as rescheduled and special anyone meeting in singapore due to pandemic travel and quarantine restrictions. it was set for late may but is being pushed back to mid august to ensure delegates can join. the wf says the summits agenda will include discussions on how to tackle business and

this is bloomberg. ♪ karina: this is "daybreak asia." i am karina mitchell.wing money into the brokerage at an unprecedented pace. investors led by rivet capital have poured more than $3 billion into the firm in recent days, including 2.5 billion dollars on monday. funding comes as robinhood fights angry day traders, increasing scrutiny in washington, and questions about its plans for a potential ipo. silver has come off a near eight-year high as the market takes a breath following monday's reddit fueled investor frenzy. active futures have risen as much as 13%, the most since february 2013 following a weekend that saw dealers in bullion and coins admitting they are overwhelmed by demand. cme group says it's raising margins for contracts. goldman sachs is tightening the golden handcuffs for some of its most in demand traders. staff from the more junior ranks of its portfolio trading group are said to have been told six months noncompete clauses before picking up their bonuses. those are usually reserved for more senior staff as goldman looks to make it harder

i am karina mitchell. this is bloomberg. paul? paul: thanks, karina.alia is likely to see a rebound in corporate profits with ongoing strength and optimism over vaccines. we are joined now by our guest. the plan is aligning at least for earnings season here in australia, and you say it is looking pretty good, but what do you need to see to justify some of the evaluations that we have got right now? >> good morning. yes. that would be the very difficult part for the australia reporting. we have seen decent rallies and a lot of the share prices, especially in some of the e-commerce names, and i think that it may prove to be a little but of a reality check, unfortunately. i think earnings will be good, but i think there has been a dislocation between share prices and valuation, which may be the reality check for the market. >> well, we have got an environment of really low rates and australia. house prices are rebounding strongly, and one of the big announcements is to come by by far the largest listed company on the asx. what are you expected -- expectin

karina: in new york, i am karina mitchell. the u.s. said is willing to meet with iran to restore the nuclear deal. iran wants the u.s. to rejoin the 2015 agreement with sanctions before any talks. donald trump pulled the u.s. out of the deal in 2018 with sanctions that hammered iran's economy. the president will dump mr. trump's america first approach at a pair of conferences sprint the president will call on industrialized democracies to confront the pandemic and climate change. he will make virtual addresses to the group of seven. republican senator ted cruz is back in texas after he criticized family trip to cancun, mexico. cruz left while texas was dealing with widespread power outages. he said it was a mistake. in the u.k., there are plans to delay consideration of an online sales tax until the fall. because of the economic uncertainty due to the pandemic, aiming to make sure there is not a disadvantage. in the u.k., a landmark decision that threatens a business model. uber drivers are workers entitled to rights like a minimum wag

i'm karina mitchell. this is bloomberg. rishaad: coming up, we're discussing the startup scene in indonesia with a founding general partner, who will tell us why the country is becoming a hotbed for tech innovation. haslinda: next, we will sift through china's latest economic edit with morgan stanley, as the latest pmi shows a slowdown in -- a slowdown in one of the few global bright spots. keep it here. this is bloomberg. ♪ is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. rishaad: china's efforts to control the recent surge in covid-19 infections are undercutting its economic recovery. january's official pmi was lower than t

i'm karina mitchell. this is bloomberg. ♪ haslinda: still i had on "-- still ahead, we discuss the military takeover in myanmar and how that will affect relations with the former asean secretary-general. rishaad: but next, private equity and asia and how the pandemic has altered investments. this is bloomberg. ♪ ♪ ♪ rishaad: 2020 was a block buster year for stock offerings end with the equity rally, ample liquidity in strong demand, record for the stocks as well, technology one of the big for sherry's. another trading day be of this friday in hong kong, underscoring all this appetite we have for internet names. this is going to be the biggest internet ipo in two years, but there are fears of a bubble as well as volatility. joining us now is jie gong, partner at pantheon, 55 billion dollars of assets under management globally. thank you for joining us. characterize what you see out there, which may will change from 2020. jie: 2020 has extended trends, digitalization and the further pickup of enterprise sof

i am karina mitchell this is bloomberg. taking a look at the market, no stopping the rally. asia inching higher trading coast to record highs. investors mother prospects in the vaccine rollout is getting momentum. nine stocks posted the longest rally since august. the bloomberg commodity index outstanding gains after a 22 month high, and optimism about economic recovery. it is also a tight market investors say. oil above $60 per barrel. others say oil markets gotten ahead of themselves, technical indicators saying the rally is overbought. gold futures trading up. bitcoin, $46, 142 after serving -- surging to 47,000. take a look at the fx, the dollar may extend gains as shorts continue to be unbound and it is weaker for a third day currently the dollar index down .2%. and bitcoin pulling back. we have the you want at 6440, unchangedrent -- 644 08, unchanged currently. rishaad: in myanmar, declared martial law. process to -- marshall ought to stem growing popular opposition -- martial law to stem growing popular opposition to

karina: with the first word news, i'm karina mitchell.eep-freeze could keep parts of texas in the dark for days. power suppliers from texas to north dakota implement rolling power outs for the second day in the row. the operator of the texas electric grid says it could be days before power plants are up and running. on tuesday night outages spread to arkansas, louisiana, and mississippi. meanwhile the u.s. and japan have reportedly agreed to extend their agreement on trip funding. the deal will keep japan cost of keeping u.s. forces -- former president trump had demanded a four fold increase in financial support. reportedly there is no love lost between donald trump and mitch mcconnell. the former president blasted mcconnell in a statement, calling him a dour political hack responsible for republicans losing the senate. mr. trump said the party can never be respected again as long as it has leaders like mcconnell after the senate acquitted trump in the impeachment trial. mcconnell said the 40 fifth president was responsible for the riots

." ♪ karina: but the first word news, i'm karina mitchell.lity operators struggling with that deep-freeze in texas warned that rolling blackouts could keep parts of the state without power for days. blackouts extended to arkansas, louisiana, and mississippi. total u.s. oil production has plunged by the most ever because of the cold. in america's biggest oil field, the permian basin in texas, production has plummeted by as much as 65%. president biden says he has invoked a federal law to speed up production of the coronavirus vaccine. the president told a cnn town hall meeting that moderna and pfizer agreed to sell more doses of the vaccine to the u.s. faster than planned. last week, the government announced there would be enough doses by the end of july to inoculate all american adults. another day, another record high for bitcoin. the world's largest cryptocurrency scaling another peak, rising almost 6% to break the 51,000 level -- the $51,000 level. activity in bitcoin futures suggest traders don't see a sudden end to the crypto rally. glob

karina: with the first word news, i'm karina mitchell.is the first real-world indication that vaccination will curb the spread of the coronavirus. a study shows the pfizer and biontech vaccine appeared to stop the vast majority of recipients in israel from becoming infected. the vaccine had 89% efficacy in preventing laboratory confirmed infections. in other news, the u.s. and iran are sparring over how to revive that nuclear deal. over the weekend, tehran renewed its demand that the biden adminstration rejoin the accord and lift sanctions before any talks can resume. the u.s. response is that iran is isolated diplomatically and the ball is in their court. airlines in the u.s., japan and south korea have grounded boeing 777's following that explosive failure over the weekend. united airlines flight made an emergency stop in denver after one of its engines suffered a fan oblate failure. boeing and united shares are lower premarket. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and anal

karina: with the first word news, i'm karina mitchell.tility operators struggling in texas and a warning the rolling blackouts could keep its of the state in darkness for days. power customers were lamented first second day in the road to prevent the collapse of electric networks. outages spread to more states like arkansas, louisiana, and mississippi. total u.s. oil production plunged by the most ever because of the unprecedented cold last. it traders and industry executives say cruise down by about .33 in permian basin in texas and production has plummeted by as much as 65%. another day, another record high for bitcoin. it rose almost 6% to break the 51,000 level. bitcoin has risen fivefold in the last year. activity in bitcoin futures suggest traders do not see a sudden end to the crypto rally. global news, 24 hours a day, on air and on "bloomberg quicktake," powered by more than 2700 journalists and analysts in more than 120 countries. i'm karina mitchell. this is bloomberg. ♪ >> i do here, up to this point, that about 400,000 househo

i am karina mitchell. shery? shery: right p coming up next, janet yellen talks about the need for a full relief plan. former treasury secretary larry summers disagrees. plus, asia is not leading the global demand recovery. we discuss with a chief economist ahead of the lunar new year holidays. this is bloomberg. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ms. yellen: this package is going to speed recovery, anil will analysts with moody's and others working with the institution show very clearly that we will get people back to work much sooner with this package, and that is really critically important. there is absolutely no

karina: with the first word news, i'm karina mitchell. president biden will order a government review of u.s. supply chains. the goal is to end the reliance on china and other adversaries for crucial goods. the process will offer no immediate solution for semiconductors. joe biden and justin trudeau set aside differences over trade and other issues in their first meeting. the two conducted a virtual summit for two hours. they said their nations would adopt a unified approach towards the pandemic, climate change, and china. more fallout from the engine failure on a united airlines boeing 777. the faa has ordered inspections of pratt and whitney engines used on 777's. a fan blade snapped and tore off another blade and the front stretcher from the engine bitcoin went back over 51,000 today. the rebound follows a tough week for the world's largest cryptocurrency. 45,000 yesterday, revising down. bitcoin got some support from etf superstar kathy would who said she is positive on it. kathy wood's exchange traded funds posted their larges outflo

i'm karina mitchell.t was a little more than a year ago that the coronavirus made its way to the u.s.. since then, half a million americans died from the disease. the u.s. recorded more deaths than any other country. still, deaths and hospitalizations in the u.s. have fallen since seeing a peak in january and more people are being vaccinated. boris johnson says the end of the pandemic is insight. johnson laid out a four-month-long timetable for easing lockdown rules. schools reopen march 8, i out sort -- outside hospitality, and by june 21, all remaining businesses will resume operation. the investigation into the right at the u.s. capitol takes a new turn today. law enforcement officials will be questions about the -- questioned about the deadly violence. donald trump's allies downplayed his role in the riots, blaming mistakes by congressional leaders and capital security officials. it is the biggest deal yet in the series of transactions involving electric vehicle startups. lucid motors is merging with

karina: with the first word news, i'm karina mitchell.exas is taking an extraordinary step to recover from rolling blackouts is restricting the flow of natural gas a stocks -- across state lines. some are calling that a violation of the u.s. constitution's commerce clause. several million texans remain without electricity. meanwhile president biden is about to launch what may be one of his toughest legislative challenges. his immigration reform bill will be unveiled in congress. it includes a path to citizenship for 11 million immigrants living illegally in the u.s. and calls for more technology to secure the border with mexico. the president had his first phone call with israel's benjamin netanyahu. they discussed israel peace efforts and defense cooperation. the delay in speaking led to speculation he was freezing out the prime minister. benjamin netanyahu had a close relationship with donald trump. shares of walmart are lower. the world's largest retailer reported one of its best holiday -- and facebook has started restricting the shar

karina: in new york with the first word news, i'm karina mitchell. the house will vote friday on president biden's $1.9 trillion stimulus plan. the president expects the passage to pass by a narrow margin. the big question is the fate of the $15 an hour, moye. -- $15 an hour min wage. -- $15 an hour minimum wage. two democratic senators oppose it. mitt romney expects the former president to continue to play a big role in the party. hong kong has introduced its first stamp duty in pre-stock trades since 1993. that led to a broad market selloff. shares of the hong kong stock exchange saw their biggest decline since 2019. golfing legend tiger woods is described as awake and recovering after a car accident outside los angeles yesterday. one doctor said he suffered significant orthopedic injuries. he rolled his suv and steep terrain and had to be extricated from the vehicle. there are indications he was driving at a relatively higher speed the normal. visa and mastercard will reportedly raise swipe fees in april for certain transactions. merchants can end

i'm karina mitchell. this is bloomberg.aidi: the world health organization has approved the astrazeneca vaccine for emergency use, adding its approval and it's expected to speed up inoculation in developing countries. it comes amid concerns about its efficacy against mutated strains of the virus. what do we know in terms of the data about how effective this vaccine is against the new variant? michelle: the astrazeneca vaccine does seem to have efficacy against the most severe type of infection, especially preventing hospitalization and death. it is less effective against the south african strain and that is why some areas have stopped using it for the particular strain of the virus. the thing is it is a very effective vaccine generally and as we are trying to get the entire world immunized against the virus, it's important to have other alternatives out there and we can maybe come back later and give a booster shot or more targeted immunizations if needed. but we are getting some benefit from this vaccine and it is importan

karina: with the first word news, i'm karina mitchell.nergy crisis crippling the texas power system keep spreading. almost 5 million people have been plunged into darkness. authorities are fighting to avoid a total collapse of the grid. businesses from north dakota to texas are losing power in the middle of an unprecedented deep-freeze. blackouts will continue throughout the day. on capitol hill, democrats are turning their attention back to president biden's priorities. they want to push through the $1.9 billion stimulus package and get the last of his cabinet confirmed. the president is unlikely to get anything he wants in the bill. at least as good democratic senators oppose the $15 federal minimum wage. coronavirus cases and hospitalizations are dropping dramatically across the u.s. that suggests measures to stop transmission are working. almost 12% have received at least one dose of the vaccine. data gathered from mobile phones suggests people are being more cautious. goldman sachs is getting ready to offer its investing knowledge to

i'm karina mitchell. bloomberg. ♪ ♪ >> basically, people are getting what amounts to combat. they are getting paid extra because they are taking on more risk. once the pandemic ends, the labor market is hopefully going to get to something closer to what was normal before. i think it means to be seen with that means for wages. jonathan: economic data in just about 40 minutes' time. that was stephen stanley of amherst pierpont. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market looks like this. we are down 15 on the s&p 500, off by 0.4%. yields are higher. let's call it 1.45% on the u.s. 10 year. it happened quickly, tom. $63.50 on wti. tom: brent crude, $67.30. we have been doing a lot. it is a global wall street conversation. now on the stock market, gina martin adams of bloomberg intelligence. it is a basic idea of cash flow and what it is going to be in a 6% nominal gdp america, and also all of the people working under you at bl

i'm karina mitchell. texas is taking an extraordinary step to ensure in-state power generators have enough. some are calling it a violation of the u.s. constitution commerce clause. the crisis is now in its fourth day. several million texans are still without electricity. president biden is about to launch what may be one of his toughest legislative challenges. his immigration reform bill will be unveiled in congress today. it includes a path to citizenship for 11 million immigrants living illegally in the u.s. there are also calls for more technology to secure the border with mexico. the president had his first call with israel's benjamin netanyahu. the president called it a good conversation. the delay had led to speculation that biden was freezing out the prime minister. netanyahu had a close religions with donald trump -- close relationship with donald trump. keith gill will testify today before a house committee. he plans to say he isn't a financial advisor and wasn't art of any pump and dump scheme.

karina: good morning. china slipped into deflation last month as consumer prices fell 0.3 percent since december. expectations were zero. factory prices rose 0.3%, in line with expectations. producer prices rose the first time in a year. gaps in consumer demand in recent weeks. the country keeps tight restrictions in place to rein in local coronavirus outbreaks. the unemployment rate jumped to 5.4% in january, up almost a full percent from south korea december. shed one million jobs from a year earlier for an 11th straight month of lower employment. here in the u.s., donald trump's historic second impeachment trial will continue after the senate rules the process is constitutional. has prosecutors argue mr. trump trade his oath of office and inside of the capital -- capitol on january 6. the trial is almost certain to end in trump's acquittal. the w.h.o. says it is highly unlikely the virus came from a lab link in china, blaming transmission of the coronavirus to humans from animals made from frozen meat.

this is bloomberg. ♪ karina: you are watching daybreak australia. i'm karina mitchell.ckouts triggered by frigid weather has spread to more than 4 million homes and businesses across the central u.s. in a deepening energy crisis that has already crippled the texas power grid. power grids ordered gratuities to start rotating outages to protect the system from failing amidst surging demand and myanmar as tightening its grip on power, shutting down the internet and making it easier for 30's to make arrests. street protests continued on monday even as the military detained so the servants and other professionals. they netted aramex disk -- the united arab emirates showing -- the planets largest volcano. they reached mars and will orbit before attempting to send a lander to the surface. they will have company. nasa and china are also about to reach the red planet. end --global news 24 hours a day on on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. kathleen: thank you. sophie: -- who points out a broader rate in

let's get to first word news with karina mitchell. karina: thank you.sident biden's abide -- virus relief plan has hit a roadblock with senator romney saying not a single gop member will support it. romney and other republicans met the president on monday. meanwhile, democratic leaders were at the white house wednesday. the myanmar military is strengthening its grip on power, charging civilian leader aung san suu kyi with breaching import laws by possessing illegal walkie-talkies. the russian president is accused of violating covid-19 law at an election rally. washington has denounced the takeover as a coup and is contemplating sanctions and withholding foreign aid. the vaccine distribution worldwide is now equal to the number of cases. astrazeneca and oxford are working on a reengineered shot that protects against all mutations. the third tennis major of the year is again in jeopardy with hundreds of australian open players, coaches, and event staff put back into isolation after a hotel worker tested positive. they had gone 28 days without a new infect

karina: with the first word news, i'm karina mitchell. a study from israel shows that the pfizer-biontech vaccine stops the majority of people from being infected. it is the first real world indication that vaccination can stop the spread of coronavirus. some scientists are disputing its accuracy. in the u.k. today, prime minister boris johnson will announce all schools in england will reopen starting march 8. johnson will be in parliament, outlining how the virus lockdown will be lifted over the next few months. more social contact will be allowed for march 29, including outdoor gatherings of either six people or two households. airlines in the u.s., japan, and south korea has grounded following 777's following the engine explode in over the weekend. it made an emerging -- a flight made an emergency landing in denver after an engine explosion that rained down engine parts over denver. -- he reiterated the need to improve what he calls unreasonable tariffs and also cited curbs on chinese media and students of other global news 24 hours a

i'm karina mitchell.he investigation into the riot at the u.s. capitol takes a turn today. authorities will question law enforcement officials about the violence on january 6. three of those have already resigned their post. meanwhile, donald's allies have -- donald trump's allies have downplayed his role in the riot. it was a little more than a year ago that the coronavirus made its way to the u.s. since then, half a million americans have died from the disease. the u.s. has recorded more deaths than any other country. the next closest, brazil, has fewer than half as many. rates have fallen since hitting a begin january -- hitting a peak in january. u.k. prime minister boris johnson has said the end of the pandemic is insight. he set a target for easing restrictions over the next four months. a year into the pandemic, home depot is signaling demand is still strong for home-improvement product. the chain says u.s. same-store sales rose a better-than-expected 25% in the most recent quarter. customer trends

i'm karina mitchell.n energy crisis has crippled the texas power system, leaving 5 million people across the u.s. in the dark. homes and businesses from the dakotas to the southwest have lost power in the midst of an unprecedented deep-freeze. the cold blast is just the latest in the chain of extreme weather that has brought down power grids and upended energy markets globally. house speaker nancy pelosi wants to keep up the pressure on the attack on the capital. she wants to form a commission to investigate the assault. a number of republican lawmakers say they support an investigation. chancellor angela merkel wants to make a deal with the u.s. over that controversial russian pipeline that will bring natural gas to germany. it's been a particular source of transatlantic friction. merkel's coalition is working on a plan that would attempt to soften russia's influence over europe's energy market. and get another record for bitcoin. the world's largest cryptocurrency rose today, closing in on the 50,000 le

karina: i'm karina mitchell.emocrats begin the final push for president biden's 1.9 trillion dollar stimulus bill this week. democrats want to get the measure passed quickly before an earlier round of benefits runs out. the house plans a vote on friday, and the real action will be in private talks in the senate. some democrats are opposed to planets for a $15 an hour minimum wage. -- two plans for a $15 minimum wage. a draft of a study says the vaccine is 89% effective. some scientists are disputing its accuracy. and while, airlines have grounded several boeing 777's after the weekend. a delta airlines flight made an emergency landing after an engine failure. airlines in japan and south korea are doing the same. another takeover in the regional banks business. m and t bank has agreed to buy people's united. the combined company will have about $200 billion in assets and more than 1100 branches in 12 states from may to virginia. -- from maine to virginia. global news 24 hours a day, on air and on bloomberg quickta

from new york, this is bloomberg. ♪ karina: with the first word news, i'm karina mitchell.milestone for the u.s.. a half million americans have now died from the coronavirus that hit the nation a little more than a year ago. the u.s. accounts for almost 20% of global fatalities. it has more than twice the number of deaths then the next closest country, brazil. still, hospitalizations and deaths have fallen since peaking in early january, right after the holidays. federal investigators are bleeding metal fatigue for the engine failure -- are blaming metal fatigue for the engine failure on that boeing 777. the incident led to the grounding of dozens of 777's. the lights are back on in texas, and the state has to figure out who will pay for the energy crisis that plunged millions into darkness last week. it will probably be ordinary texans. the cost of electricity over a five-day period totals over $50 million, 12 times higher than the week before. utilities will look to pass those costs on to consumers and taxpayers. hsbc is looking to become the go to bank for the wealthy. e

i'm karina mitchell.his is bloomberg. ♪ ♪ >> there's a very great desire to reform the system with the appellate body. and of course, i know the biden adminstration still has issues with it, as previous administrations. there is some valid criticism of the way the body functions. jonathan: that was the wto director general speaking to bloomberg a little earlier on, catching up with francine in the last 24 hours. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity markets shaping up as follows. we count you down to jobless claims in america, 15 minutes away. yields are higher, up seven basis points on the u.s. 10 year. we add a little more weight to the crude price, $63.43. in the fx market, euro-dollar up about 0.5%. we heard the verbal intervention. the ecb pushing back. in the equity market, down 17, off by about 0.4%. the bigger movies in the nasdaq, and big tech. tom: $67.07 on brent crude. we are yet to frame out $70 a barrel, let al

i'm karina mitchell. this is bloomberg.ts across asia closed on the new year holiday but new zealand and australia, still online. let's turn to sophie for the market action. sophie: trading futures pointing to the downside and we are seeing earnings drive price action in australia. mining gaining and dividend announcements whereas amp is sinking this morning as ares management backed out of a takeover offer. the asx 200 losing ground this morning. it is quiet and currency markets, the dollar holding onto a four-day drop while the offshore yuan is hovering. gold looking little changed after jumping overnight. jp morgan seeing good support for bully on. futures markets are pricing in fed tightening in late 2023. the commodities price, oil prices styling as the rally may be overdone but citigroup says higher prices for crude are ahead, pricing and $70 per barrel for brent. >> the pen dramatic -- pandemic stricken holiday was great for mattel. people snapped up dolls and cars in holiday toy by. for perspective, we turn to the m

karina: with first word news, i'm karina mitchell. iran says the u.s.t return to the 2015 nuclear deal and lift sanctions if they want to talk. that appears to be a rejection of an effort by the biden administration to begin discussions before joining the accord. donald trump pulled out of the agreement in 2018 and reimposed sanctions. the u.s. vaccine supply is set to double in the -- in the coming months, allowing a broad amount of shots administered. the number of vaccines delivered should rise to over 30 million a week in june. that is enough for 4.5 million shots a day, almost three times the current level. and the blackouts that hit texas in the midst of a historic freeze are now easing. four of the largest refineries there suffered widespread damage from the freeze, and they could be down for weeks the repairs. in tact, apple is working on a magnetically attached battery pack for the newest iphones, and accessory that would charge the device and provide apple with another potentially lucrative ad-on product. in testing, the accessory's developmen

i'm karina mitchell. 5.3% increase beat all estimates and suggested that fresh stimulus helped a rebound in demand. it may influence the debate over president biden's stimulus package. it was another blockbuster quarter for shopify. canada's most valuable company beat forecasts on sales and earnings, and it expects revenue to grow rapidly this year. it's food platform was up 99% from a year earlier. and say goodbye to the trump era in atlantic city. the trump plaza hotel and casino was imploded earlier today. it was one of the premier gambling locations in the new jersey resort, but after a series of bankruptcy filings, trump cut ties with the casino into thousand nine. it closed for good -- in 2009. it closed for good in 2014. that is the latest business flash. alix: thanks so much. let's focus on ford for a second, joining the ev race in europe. the automaker is bowing to go almost completely electric by the end of the vector -- is vowing to go almost completely electric by the end of the decade. >> by

i'm karina mitchell. this is bloomberg. haslinda: coming up on bloomberg markets: asia, we hear from the world's top miner, as its boosts its outlook for the global economy. mike henry will join us for his first interview since posting results a few hours ago. rishaad: that is a little later this hour, but just ahead, plans to go public. we are going to be asking ferry unardi why he is going with a spac. that is next. this is bloomberg. ♪ bloomberg. ♪ haslinda: welcome back. travel and tourism have been brought to their knees by the pandemic. some countries have maintained border restrictions, while others have had to tighten controls again amid new variants. let's talk about all this with ferry unardi, founder of southeast asia's biggest online travel startup. good to have you with us. give us a sense of what you are seeing in terms of transactions. we know you said before that transactions in vietnam and thailand are back to pre-covid levels. how about elsewhere, and how is that impacting profitability, which you say you

i'm karina mitchell. this is bloomberg. paul: i just want to keep you updated on a couple of major movers in early trading. crown shares recovering some of the early losses, now off just about 4%. of course we had the news that the regulator found crown unfit to hold a casino license in sydney. the regulator saying talks will take a few weeks and crown having a lot of work to do before the regulator will be satisfied that things might change and an area of focus for the regulators. and commonwealth bank of australia rising .3%. bad loans up, interest margins getting compressed. the dividend down from last year. crown shares rising about point when he 5%. shery: still ahead, freight costs continue to soar for the world shipping companies. japan's largest shippers tell us how it is dealing with adam -- amid the coronavirus. next, the market outlook as the reflation theme takes over. this is bloomberg. ♪ >> the question for me be, how persistent is it? how much of a pop did we get as the market open and consumers have money in

. ♪ >> with the first word news, i'm karina mitchell.lic health experts in new study finds immunizations could end the pandemic. the study published revealed the pfizer biontech vaccine was overwhelmingly effective against the virus. researchers followed nearly 1.2 million people in israel. questions are being raised about infrastructure americans rely on to process payments. federal reserve systems that exhume millions of financial functions were disrupted. it appears to have been some sort of internal glitch. the system processes everything from payroll to enter buying transfers. president biden is directing his staff to address the shortfall of semiconductor production. president -- the president ordered a review of the supply chains, ending reliance on china and other adversaries. he says the problem won't be solved immediately. in the u.k., the chancellor the exchequer is being urged to deliver $140 billion for was go boost -- fiscal boost in his budget. the increase would add 5% of gdp to the record. it would also align the u.k.'s

karina: time for the "bloomberg business flash." bitcoin tumbled today. world's richest person according to the bloomberg billionaires index elon musk, tweeted his concerns that the world's largest crypto currency has risen too far, too quickly another takeover in the regional bank business. the deal is valued at $7.6 billion. the company will have $200 billion in assets in 1100 branches in 12 states from maine to virginia. there have been a number of recent deals from regional banks which are seeking sides to counter low interest rates. jeff ml's legacy -- jeff emails's legacy is a duty -- jeff immelt's legacy is a dubious one. he is out with a book and tells his side of the story in an exclusive interview with erik schatzker. jeff: there isn't a day that doesn't go by that i don't think about the company. there is a sense i have that if i let people down, that wears on me. did all my decisions work? no, they didn't. what anybody have tried harder or loved becoming anymore or been more purposeful about the company that me? i don't think so. karina: his b

i'm karina mitchell. is bloomberg. ♪ >> we want this lockdown to be the last and we want progress to be cautious but also irreversible. next week i will be sending out a roadmap saying as much as we possibly can about the route to normality and even though some things are very uncertain. jonathan: we want this lockdown to be the last one. we all feel the same way. boris johnson in the u.k.. from new york city, good morning. i'm jonathan ferro counting you down to the opening bell and here it is, a break of 125 on the u.s. 10 year. a move of four or five basis points. in the equity market, we keep rallying. up 22 points on the s&p 500 that has got to be the theme of this morning. yields are higher, but it's not stopping this equity market. tom: i would note the vix goes the other way. the vix is supposed to come in and go down with a better list of the markets. that is not occurring. this is of acute focus for global wall street. the bet being made on volatility. we will talk about that all through this we

karina: let's get a check on the bloomberg first word news. blackouts have left almost 5 million customers without power during unprecedented cold-weather. suppliers from texas to north dakota are imposing rolling power cuts for the second day. u.s. public house advisors are discussing whether to extend the interval between the first and second coronavirus shots, a possible strategy for quickly getting protection to more people. so far, u.s. officials have or debt -- have rejected a dose stretching policy like the u.k.'s. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm karina mitchell. this is bloomberg. guy: thanks very much, indeed. still with us, janet henry, hsbc global chief economist. i want to talk about italy first of all. we saw a record amount of demand for a btp auction a little bit earlier on. the market is certainly surfing the draghi wave. what does mario draghi have to deliver for the italian economy to retain market confidence, do

. ♪ karina: this is "bloomberg markets." i'm karina mitchell., liz ann sonders, charles schwab chief investment strategist. this is bloomberg. ♪ let's check in on the bloomberg first word news. we go to our top story. . the energy crisis crippling texas's power system keeps spreading. almost 5 million people were plunged into darkness. meanwhile, authorities are fighting to avoid a total collapse of the grid. homes and businesses from north dakota to texas are losing power in the middle of an unprecedented deep-freeze. blackouts are likely to continue throughout the day. meanwhile, coronavirus cases and hospitalizations are dropping dramatically across the u.s. that suggests measures to stop transmission are working, at least for now. almost 28 million americans have tested positive. that probably gives them some degree of immunity and almost 12% have received at least one dose of a vaccine. plus, data gathered from mobile phones suggest people are being more cautious day today -- day to day. on capitol hill, democrats want to push through the o

estÁ con nosotros desde mÉxico que nos trae mÁs detalles, karina ¿quÉ tal?.>> abusÓ sexualmente? >> sÍ. >> en ese momento ya.... cambio mi vida. . >> ella asegura que despuÉs de esta situaciÓn ocurrieron dos encuentros mÁs, ella dice que no querÍa decir nada que tenÍa miedo que su familia se enterara porque su padre tenÍa una grave enfermedad y no podÍa recibir noticias fuertes su madre se enterÓ tiempo despuÉs de lo que pasÓ, vamos a escuchar la siguiente parte de la nota. >> has estado en contacto con don vicente fernÁndez. >> una vez, quise hablar con Él respecto a esto cuando estaba en el anfiteatro pero cuando lo veo al frente veo al lobo otra vez y no me anime, no me anime, estuve problemas con alcohol. estuve con psicÓlogos asÍ caÍ tras. >> tu hija quÉ dice al respecto. >> me dijo mamÁ lo que tengas que hacer para aliviarte porque ellos vieron... cuanto sufrÍ pero no sabÍan por quÉ. y cuando me decÍan mamÁ no tomes pero no porque estoy sanando debo callarme por quÉ, yo no veo por quÉ y me dicen, en verdad ustedes a lo mejor, y con razÓn si lo quieren m

this is what i will discuss with karina buhr and isaar franca, members of the original manguebeat tribe. [isaar franca speaking] [singing in portuguese] sami: playing beach football at midnight with these kids is the best possible ending for a wonderful day. i get some cokes, some beers from the bar and bump into a couple of enchanting ladies. woman: ♪ are are the world ♪ [laughing] sami: give it a go. come on. woman: ♪ we are [indistinct] we are the ones that make a better day ♪ [all laughing] [indistinct chatter] [drums] [band playing] sami: spok is the king of frevo, an incredible sax player, band leader, and all around busy bee in the recife music scene. frevo is the wholly original musical style of recife. it's mainly a drum and bass based affair, where bands play lightning-fast riffs with high tempos. sami: i checked out on youtube, i checked out some old frevo and then i checked out your band, and that's like... [whistles] somewhere else. it's like you're taking trevo music, which has been traditional in a way, but you're taking it to another place. [band continues] [music playin

i'm karina mitchell. this is bloomberg. rishaad: still ahead, tata motors ev plans, discussing that with the president. don't miss our exclusive interview as we focus on india later this hour. haslinda: and the reflation trade may still be in focus, but traders are gearing up for hikes. we will get more market strategy next. this is bloomberg. ♪ want to save hundreds on your wireless bill? with xfinity mobile you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network. sure thing! and with fast nationwide 5g included at no extra cost. we've got you covered. so join the carrier rated #1 in customer satisfaction. and get a new samsung galaxy starting at $17 a month. learn more at xfinitymobile.com or visit your local xfinity store today. rishaad: just a little bit of breaking news. they are continuing to put some flesh on this story about the executive who has been apparently held by chinese authorities as part of a probe into a corruption case involving one

karina mitchell, abc news, new york. >> that is just the most wild story, lisa.have been so much worse, thankfully, nobody was hurt. >> i hope they are in hawaii now. >> i hope if they are brave enough to get on a flight. >> we're looking at very calm conditions. the upper level winds are breezy, not as breezy as yesterday. right now, we're looking at live doppler 7 where skies are clear. in fact, just a little fog along the coast.winter, of course, where all the rain head up in the pacific northwest. no difference today as this atmospheric river is pointed into portland. now we're looking at upper elevation wind and cool temperatures at 37. 37 in livermore. 47 in oakland. 48 downtown. the northerly winds will relax well, 22 miles an hour, so, throughout the afternoon, nice, calmer day today where we'll have sunshine and mild air highs, well into the 50 for some of you. tuesday should be our warmest day, temperatures begin to relax a bit on wednesday. here's a look for the potential for the rest of the month.. the entire state staying dry. with see up to the nort

i'm karina mitchell, stay with us.loomberg. ♪ >> we will still see cases, we will still see outbreaks, we will still see deaths but it won't be near the height of this pandemic or even now. it's established itself in the human population. jonathan: johns hopkins university senior scholar on the reality and outlooks for covid-19. getting you set up for the markets this wednesday morning. equity futures stay unchanged. not much happening in the equity market. six-day losing streak on the nasdaq. a mild move higher. futures are up by about 18 points. elsewhere outside of their take a look at the bond market. yields are higher. we keep coming back to this. 2.224%. tom: the idea the yield farther up the yield curve really advancing to a new steepening. i'm watching that correlation, of blended big currency. we did see an 89 handle earlier. johns hopkins university joins us, associate professor of emergency medicine. i was taken by your colleague yesterday, really talking about the ability to extrapolate out this good news.

here is abc's karina mitchell. >> reporter: debris from the boeing 777 fell from the sky, hitting the ground in bloomfield, colorado. united airline flight 328 departed denver international airport about 12:49 p.m. local time headed for honolulu, but shortly after takeoff at 1:00 the faa says the plane experienced a right engine failure. passenger barbara underwood was seated with her husband on the wing section of the wing when she says she saw the engine shaking. >> all of a sudden there was a big boom, and the ring around the engine flew off. >> reporter: the pilot calling in a mayday. >> mayday, mayday. united 328 heavy. mayday, mayday. aircraft just experienced an engine failure. need return immediately. >> reporter: witnesses reported hearing a boom and seeing smoke. the faa says the plane, quote, returned to denver international airport and landed safely. the passengers deplaned and were bussed to the terminal. a large circular piece of metal that appears to be part of the engine casing can be seen in the front yard of this home. >> this big ring is actually the cell, the front

. ♪ karina: this is "bloomberg markets." i'm karina mitchell. coming up today, next co-founder.berg. ♪ guy: 45 minutes past the hour. it has been a three year quest for wells fargo. the fed finally giving it's ok for wells fargo's overhaul plan. shares now at their highest since last year to try to get an assessment -- shares now at their highest since last year. to try to get an assessment, sonali basak and alison williams joining us. alison, let me start with you. this is a huge step forward in wells' ability to remove the cap the fed imposed in terms of limiting its size and ability to grow. just give us a sense of how significant this moment his. -- this moment is. alison: i think the key for investors is that we finally have a concrete positive step in the right direction. if you think about how long this has gone on for, it is almost four years to the day, so february of 2017 when the cap was put on. initially we thought it was only going to be, or management thought it was going to be only a several month issue. they kept pushing it out, and then gave up on providing a ti

karina: this is bloomberg markets: european close. i am karina mitchell in the principal room.g up, an interview with a ceo at 1:30 p.m. in new york, 6:30 p.m. in london. this is bloomberg. ♪ guy: uber just took a huge hit to its largest european market, the u.k. supreme court ruling against uber on driver rights. the court ruled that drivers are workers, entitling them to rights like holiday wages. joining us is nigel mackey, leighday partners, one of the lawyers that represented uber drivers. let's talk about the ruling. could you give us a sense of what this will mean for the drivers you represent, and potentially the drivers that uber employs here in the united kingdom. nigel: they are now definitively classed as workers which gives them the right you mentioned, the right to receive paid holiday, the right to receive at least the minimum wage, and also the right to compensation through the failure to provide those things up-to-date. so any driver is entitled not to come back to the employment tribunal and claim that compensation for the fact that uber bama has not been trea