let's get to karina mitchell for a check of the first word headlines. arina: the world health organization is preparing to leave wuhan after an investigation into the origins of the coronavirus outbreak more than one year ago. the team will analyze findings from that trip and is expected to release details later this week. they visited the institute of her elegy and key hospitals as well as the market at the center of the outbreak. they say they found important clues. lawyers for former president trump have laid out there impeachment defense, arguing the trial is unconstitutional but he did not incite insurrection and that democrats have made similar incendiary remarks. attorneys say the charge should be thrown out because it violates his right to free speech and is constitutionally flawed. they say the case is near political theater. the indian government is calling on farmers to end a in new delhi and elsewhere and to rejoin talks on controversial agricultural laws. thousands of rural workers had been encamped outside the capital for months in protest

let's go to new york, because karina mitchell has the latest first word news. , the media tycoon will stay in jail after the city's highest court approved government appealed against him being granted bail. the court of final appeal role -- ruled he stayed in custody after authorities challenged the lower court decision to release him into house arrest. he was arrested last year under hong kong's new security law. "the people's daily" had warned the case could be moved to the mainland. protests continue across myanmar after the army imposed martial law and an overnight curfew. the military launched a ban of gatherings of more than five people in response to anger at last week's to. the defect or leader and other civilian figures are in detention as the mark -- army disputes november's election that was won in a landslide. the pboc says stability imprudence is its focus saying it won't make any sharp turns. its latest quarterly report says policy will be precise but flexible with stability as a priority. the pboc says it will monitor the relationship between econ

let's get a look at the first word news as we join karina mitchell. karina: the world health organization team investigating the origins of the coronavirus have visited the wet markets in wuhan where the first outbreak was reported. accompanied by a vast entourage of chinese officials, they also went to two hospitals that treated covid patients. experts say a single visit is unlikely to produce any quick results, with similar investigations normally lasting years. china's efforts to control a resurgence of coronavirus cases is undermining the economic recovery that has been a. rare bright spot globally. . the first official data for january shows activity -- the services sector it was markedly weaker. manufacturing pmi fell to 51.3, while the nonmanufacturing gauge slid to 52.4 from 55.7 in december. south korean exports rose for a third month in january adding to optimism that global commerce is on track for recovery. overseas shipments increased 11% from the year earlier, beating forecasts. exports to china rose 22%. semi conductor shipments were up

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'm karina mitchell. another takeover in the next phase.ty bank is the region by united at a deal valued at $6.6 billion. the company will have more than 1100 ranches in 12 states from into virginia. there have been a number of deals for regional banks. shares of petrobras plunged as much as 60% in sÃo paulo today. still'-- brazilian president jair bolsonaro replace the head of the state-controlled oil company. he is impatient to appease his political base. jeff immelt's legacy is a dubious one. you will be remembered as the ceo who wrecked an iconic american company, general electric. immelt is out with the book and tells his side of the story in an exclusive interview with erik schatzker. >> there isn't a day 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 the decisions work? no, they didn't. what could anybody try harder love the company more or been have been more purposeful about the company than me? i don't think so. karina: that is your "business flash." alix: thanks

let's get to karina mitchell with the first word headlines. karina: some good news on the pandemic front. the number of people receiving at least one dose of the vaccine worldwide has out you all the total number of infections. one of 4 million jabs have been given, the same as the case total. at present occult is working on a reengineered stock that protects against all mutations, with april out target in the third quarter. but darn rise offering but turn up -- -- moderna is offering -- republican mitt romney saying not a single gop member will support it. the about the plan redrawn and also questions whether providing extra state and local hate, and hiring more teachers makes sense. bombing and other republicans -- romney and other republicans met with biden. financial firms are being warned to lower expectations after brexit. banking regulators have told industry leaders they are now focused on those diverging, rather than equalizing. both sides are preparing a memo on regulation that is due by the end of march. the myanmar military is stren

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. paul: still to come,, sanders morris harris says retail traders will determine which stocks perform best. the chairman, george ball joins us next. and showing significantly down in corporate profits. we will discuss this with rbc managing director karen 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. >> the labor market we are seeing is stagnating. >> i would call it disappointing and puzzling. >> it was softer than expected. >> this is good for those that want a big fiscal support. >> the stimulus we need depends on the pace of vaccination. >> markets are looking through t

i am karina mitchell. much more to come. stay with us. this is bloomberg. (announcer) do you want to reduce stress? shed pounds? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you maintain comfortable, correct form. that means better results in less time. and there are over 20 exercises to choose from. get gym results at home. no expensive machines, no expensive memberships. go to aerotrainer.com to get yours now. >> the gamestop story represents a larger truth. a fundamental change is happening. like never before, every day investors can communicate, access more information and work collectively to move markets in real time. >> despite unprecedented market conditions, at the end of the day, what happened is unacceptable. for our customers, i am sorry and i apologize. >> it demonstrates i have been right about the country. if you things i am not -- i am not a cat, i am not an in

let's see what we have in terms of a first word news with karina mitchell in new york. 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 ma

for now, karina mitchell with the first word headlines. w york, we are facing the biggest -- so far this weekend. a slow moving system is snarling transit across the region. it would be the fourth snowiest single day in records dating back to 1869. winter storm advisories are in place from tennessee to maine and across to chicago. the who has visited wuhan's cdc as it investigates the potential origins of the coronavirus pandemic. it is one of china's leading research labs with an archive of information about coronavirus is after sars in 2003. the visit is unlikely to quickly confirm the origins of covid-19. typical investigations last several years. japan is set to extend the virus state of emergency for another month through at least march 7. local media say prime ministers suga will announce a move tuesday even as reported infections fall. it covers 11 areas, accounting for 60% of the total economy. kyoto says the prefecture north of tokyo will be removed from the list. state television in myanmar has released pictures of the new preside

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

i'm karina mitchell. this is bloomberg. ♪ ♪ >> spending on pandemic recovery now, spending generously is not competing with a longer running investment program. in fact, it is a precondition for that longer run investment program. we need to get people back to work. jonathan: paul krugman, nobel laureate, on the debate of the moment. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's your market this monday morning. it looks a little something on this, with equity futures coming down 0.5% as the bond market breaks down and yields had higher by four basis points, rounded up to 1.37 percent on the u.s. 10 year. the euro hanging in there. in the commodity market, crude higher, $59.75. copper through $3000, absolutely flying. just to pick up on the words of paul krugman, it shouldn't be competing with an infrastructure program. i think the fear among some economists is that is will. tom: a huge deal here is the allocation, the makeup of the deal. of course, "the wall street jour

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'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. 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

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

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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

i'm karina mitchell.s is bloomberg. ♪ >> we expect readings on inflation to move up. that will be a temporary effect and won't really signal anything. you can see spending pick up substantially in the second half of the year, and that would be a good thing, but it could also put upward pressure on prices. it doesn't seem likely that would result in very large increases or that they would be persistent. jonathan: chairman of the federal reserve jay powell staying on message on day one of congressional testimony. day two a little later on. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's the price action. on the 30 year bond in america, we stare down the barrel and break 2.25%, up a full seven basis points now. up four on ten's to 1.39%. the fda staff finds the j&j covid-19 vaccine safe and effective. this is a one dose regime, and it just fuels the outlook, a better outlook in america and beyond. tom: we welcome all of you worldwide and across this nation on radio and telev

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

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

. ♪ >> 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

i am karina mitchell.is bloomberg. ♪ >> we have been saying that the outlook for the medium to long-term is positive. commodities are essential for the world's ongoing development and growth. through the decarbonization transition for the energy transition, that will also be minerals or metals. tom: michael henry of bhp on the state of commodities. commodities lifting up and we see that this morning. oil, this is west texas intermediate, the lower priced $59.64. a headline just coming out which is symbolic of the moment. sometimes it does not work out. adidas will begin the divestiture of reebok. that expected but is now official by adidas. they begin the divestiture process of reebok. right now barry ritholtz, lisa abramowicz, and tom keene. barry, i just said what if, it is not the third week of august of 2007, but somewhere in the vicinity of 2007 i made the idea to get out of the markets. getting back in is so hard. now we see it with an spx up 10% over that broad 13 year period. that is real money. th

let's get to karina mitchell for first will headlines. nald trump's impeachment trial as syncretic video showing a violent mob of the former president's rampaging through the u.s. capitol and stocking a speaker nancy pelosi and vice president mike pence. impeachment managers are portraying the sieges a combination of the former president's month long campaign to still linger -- anger over the election. six republicans have agreed to republican -- the travel is unconstitutional, the prosecution seems far from winning 17 shield p votes -- 17 shield p let's dig be to the president. -- following the military coup depriving leaders of assets in the u.s.. the news comes with the de facto leader and others doing detention. this image street protests across the country. security forces have he water cannons, to address, and rubber bullets to dispel demonstrators and there were allegations of life ammunition being fired. the investigation into last month will be us air crash says that the mental problem made to be to blame. officials say it is stil

it's good to karina mitchell with first word headlines. karina: the world health organization has cleared astrazeneca's vaccines for emergency use. it will speed up inoculations in developing countries which has lagged behind wealthier nations. it also allows the shot to be administered to all adults over 18, although questions remain over its ability to fight new strains. meanwhile, house speaker nancy pelosi says congress must create an independent 9/11 commission to investigate the january 6 arming of the capitol in washington. she said security is under review to ensure such an incident will never happen again. pelosi says current house and senate members should be excluded. and myanmar is tightening its grip on power, shutting down the internet over the weekend, and making it easier for authorities to make arrests. street protests continued even as the military detained civil servants, lawyers, and other professionals. telecom companies were ordered to cut internet services coming monday to help prevent protests from spreading. and the

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.

it's get over to karina mitchell with the first word headlines. karina: we start with myanmar -- it is tightening its grip on power, shutting down the internet over the weekend and making it easier for authorities to make arrests. street protests continued on monday even as the military detained civil servants, lawyers, and other professionals. telecom companies were ordered to cut internet services early monday to protect -- prevent protests friday. singapore may offer more budget support for its economy on tuesday after covid-19 triggered the worst performance since independence. the traditionally conservative city status set to lay out its third straight budget deficit despite being passed the worst of the pandemic and with the shortfall man -- narrowing commit may result in a death test --deficit equivalent to 4% of gdp. the world health organization has its first female and first african later. the body administration backed her and ended the opposition of former president trump. she has been finance minister of nigeria and has spent 25 years

let's go to karina mitchell now for the first word headlines. karina: remaining optimistic with janet yellen seeing full employment last -- next year if washington and ask a strong stimulus package. however, she fears the labor market is stalling and says that more action is needed. she says more is still needed. christine lagarde says it may be hard to we the single market off of emergency help. meanwhile, new data from the u.k. suggests exports from the eu collapsed in january. one association said the volume of goods destined for the single market fell by 68% in the first month after brexit and a mountain of new paperwork. and truckers do not want to be trapped in the new red tape. over to iran, it says it is willing to return to nuclear negotiations but only if the u.s. lifts sanctions first. they say they will comply with the 2015 a quarter even after it has confirmed penalties have been removed. the biden administration is looking at this without lifting trump era sanctions. and myanmar has its biggest antigovernment demonstrations in at le

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: 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.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

let's get over to new york now and join karina mitchell. karina: the latest minutes from the reserve bank of australia show philip lowe and his colleagues expect quote, very significant monetary support will be needed for some time and that it will take years to meet inflation and unemployment goals. the rba extended its qe program and its february meeting, saying the scheme has helped address rates and run a lower exchange rate. the world health organization has cleared astrazeneca's locally produced covid-19 vaccines in south korea and india for emergency use. the approval will not help speed up inoculations in developing countries, which has so far lagged behind wealthier nations. the astrazeneca vaccine has also not been approved by australian authorities, paving the way for local production of the shot there. here in the u.s., nancy pelosi says congress must create an independent 9/11-type commission to investigate the january 6 storming of the capital in washington, d.c.. writing to fellow democrats, she said security is already under

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

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

i am karina mitchell.is bloomberg. ♪ >> texans have suffered three days of freezing cold without power should not be subjected to skyrocketing energy bills due to a spike in the energy market. i held an emergency meeting yesterday with legislative leaders to begin the legislative process to shield texas families from unreasonable bills. tom: the governor of texas, a beleaguered governor of texas. good news about taxes and all of the midwest. even the idea of from electricity to the urgent need for water. all in all, it has been good news. lisa: after a pretty dire spate, the idea this unusual weather pattern might not be so unusual going forward. tom: here is what we do, from bloomberg on the economy to bloomberg surveillance. to get away from the hyperbole. you actually talk to adults in the room. on the breed nationwide -- on the grid nationwide she is the adult. her book, "the grid" is the bible, the definitive book on what we have wrought. professor cohn, thank you for joining us. great to have you. ca

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.

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.ing news, the 10-year treasury yield rising to 1.27%. that beats that march peak, an unbelievable move just in the past few weeks. this really brings the reflation theme front and center, but stocks't care. guy: you do wonder when that point comes where stocks ultimately pay attention to this. we are not there yet, it seems, and stocks seem to be taking this as a cue that the reflation trade is the right direction of travel. it is going to be interesting to see at what point the fed starts paying attention to this. i think they will become double now, but the market has a tendency to push the fed around. . i wonder when the pushback starts. alix: how long do we pricing no hikes? if we bring that closer, does that start to disrupt equities as well? we are also taking a look at what is happening in texas. 5 million u.s. customers are currently without electricity due to unprecedented weather. you have rolling blackouts, oil supply off-line, natural gas supply offline. we are joined by am

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

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

karina mitchell has more on the efforts to catch up. >> to get americans vaccinated. >> reporter: the is asking to help make up for lost time after the shipping and distribution was delayed last week by massive winter storms. >> we're asking vaccine vaccination sites to extend their hours even further and offer additional appointments if we all work together from the factory all the way vaccinators, we will make up for it in the coming week. >> we are on a race against time. a race betweep infections and injections. anything that slows down our progress is unacceptable. >> reporter: meantime pfizer says it will reduce the production time of its vaccine from 110 days to 60 days, adding the vaccine which had to be stored at 94 degrees below zero could be stored in regular medical freezers once it arrives at vaccination sites. yesterday president biden toured pfizer's covid-19 production facility in michigan and said he understands the hesitancy among some to taking it. >> if there's one message to cut through to everyone in this country is this. the vaccines are safe. take the vaccine w

i'm karina mitchell.r of people receiving at least one dose of coronavirus vaccine worldwide has now equaled the total number of infections. and astrazeneca and oxford university are working on a reengineered shock that works against all mutations with a rollout target in the third quarter. moderna is offering its vaccine to south africa. in other news, the world health organization team investigating the origins of the virus have wound up their visits with a lab in wuhan. the chinese are rejecting accusations the virus spread from there. the who team was accompanied by chinese officials and has given no details yet about the visit. staying on china, it is cutting capacity in flights from mainland carriers over lunar new year as coronavirus numbers rise. departures will be at least 10% more than normal. that means the usual surge in travel demand will not happen this year as the aviation sector struggles to remain viable. the economic forum has rescheduled its special annual meeting in singapore due to tr

let's get you to karina mitchell. >> good morning. the rba says the australian economy is improving but interest rates will stay low. the recovery has been stronger than expected. speaking to lawmakers, the governor says the public -- positive signs do not disguise the fact there is some way to go. the infrastructure of stock and commodity markets was resilient. a treasury -- treasury statement says there has been agreement on the importance of the sec releasing a timely study of those events. janet yellen says it is imperative to uphold the integrity of markets and protect investors. australia risks further issues with china by calling for an investigation into alleged human rights abuses. whether treatment -- where treatment of minority muslims has drawn criticism. several detainees say they have witnessed systematic rape and torture in what they say are reeducation camps. china says the report has no factual basis. the regulator revoked cgtn's license and has no control over editorial output. this came as the telegraph reported thr

i am karina mitchell, this is bloomberg. alix: let's stick with u.s. and iranian relations.ela merkel is willing to talk with iran. this is their oil production and exports. the blue bar is production of oil, you can see what has happened since president trump took office. you are looking at millions of barrels of light, the question is how fast can they come back? some site you can get a lot on m3, others say it will take longer. that is the big question for being key for the oil market. you have current and new production, what states are these wells in? if they have not been able to use them or invest money? guy: trying to get everything up and running, the deputy general in orion, angela merkel talking about getting talks done. the greenwich media strategist ceo, a spokesperson for terrorism and counter intelligence. also a spokesperson to the u.n.. what do you make of the decision? the normalization, how far away could that be? hagar: it will take a while. president biden stated that rejoining the security deal would be a priority. it is a priority, but they are going t

i am karina mitchell. this is bloomberg. vonnie? ♪ vonnie: live from new york, i am vonnie quinn.now joined by our bloomberg and -- indoor dining reopens with limited capacity for near city restaurant today. we will speak in moments with marcus samuelsson, red rooster chef and co-owner in just a few moments about the industry. bumble soared in its public debut. we will disc the ipo with sarah kunst. we will hear from the ceo of -- on his fourth quarter results and what environmental regulation looks like under the biden administration. new york city restaurants are reopening reopening dining to 25% capacity. many will remained closed. they face staffing shortages. joining me to discuss is chef marcus samuelsson. thank you so much for joining us. the preparations for your first seating tonight, how are they going? marcus: it is going well. we are excited about opening the doors, even if it's just when he 5% to start. we just happened to invite our community, we have more staff and we have a big restaurant. we can keep the 25%. we have two floors and a lot of space. we are privilege

i am karina mitchell. much more ahead.his 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. >> every source of power the state of texas has has been compromised. whether it be renewable power such as wind or solar, but also as i mentioned today, access to coal generated power, access to gas generator power also have been compromised. >> we have an energy crisis. that was greg abbott from texas. from new york city, good morning. that energy crisis script and in the oil market in a big way. here today, the story, crude much higher. wti up by 26% so far. 128 your yield on tin. later on, jobless claims. euro-dollar turning arou