. >> scene 1 and 2, take two, and action, keenan. >> sarah? hi. >> oh, hi. >> reporter: just ask the stars of the movie "cabin fever" produced entirely during this country's pandemic shutdowns. actors turn their cell phones into cameras, their homes into a bitt.semlves. orwo are a couple in real life who also play a couple locked down in their own apartment in the film. >> you know, we're telling a good story, man can break down a lot of borders. >> yeah. >> we were like a huge cast telling this genuine human story. >> yeah, the human truth, yeah. because that's how you relate. you can only relate to somebody on a human truth. >> reporter: real people with real lives. >> we want to say that look, we are more than the starving, we are more than the civil wars. we are this human people. we grieve, we live we love. >> reporter: debora patta, johannesburg, south africa. ♪ >>> that is the grammy winning country band formally ent antebellum. after 14 years ago, the members say they now realize the name has a historical link to slavery. they'll now b

su keenan has more.audis decided to end the extra output cut and that drove the downside we saw in the session. su: yeah, they are saying the extra cuts which were above are no longer needed. they served their purpose. it is a number of strategies they are using to boost prices. if you look at the chart of west texas intermediate where it was down as much as 4% in the recent takeon, it is starting to a pause in the rally and market watchers say the market is pretty much spooked by the aggressive nature of those saudi price hikes. they are the biggest hikes in 20 years. the outlook for demand is gloomy and the view of goldman sachs. they believe brent crude could fall to $35 near-term. they are bearish because of the poor returns from refineries. there's a view that the opec-plus deal that was reached to extend output cuts in july are already priced in. let's listen to the saudi oil minister. of even sending an agreement at the end of 2022. opec-plus on that aprt. part. su: until death do we part. he is s

su keenan with the latest on facebook. take a look at the markets as we set up this trading week. we heard u.s. stocks taking another low blow to end out the trading week. the s&p down by 2.5%, the lowest in more than two weeks as this resurgence across major u.s. states and cities like florida, california, arizona continue to plague plans for economic reopening. we are seeing a flat trading session to kick off the day when it comes to new zealand. at 21.16dollar trading . coming up next, we have the latest from hong kong as protests return. ♪ karina: global coronavirus cases have broken through 10 million, with deaths surpassing 500,000 as health authorities continue to warn against reopening quickly. u.s. infections are above 2.5 million, with president trump's health is are saying the door is rapidly closing on containing spread. vice president mike pence says the u.s. is well-placed to respond to the crisis. meanwhile, reports from europe suggest the eu should ban travelers from the bloc. 15 countries are set to be giv

shery: su keenan the latest on oil.ld is the ceo of .ioneer and natural resources he told us the price hit $45 to $50 a barrel before the start looking at growth again. scott: $40 is a blessing in disguise. nobody is going to add rigs at $40 oil. there was concern there were two large producers adding back horizontal production. i am sure that will have some effect on the opec-plus meeting. as you know, russia has not liked u.s. shale growth, but i am trying to convince opec members that are industry is changed, it's all about less growth, it is all about returning back to this -- returning cash back to the shareholders. $50eed to get up to $45 to before you see people adding rigs or frag fleet. reporter: how long can you stay that view? all across the curve than the last two weeks, how long until shareholders are like, let's go, let's drill? scott: the big push for most investors is slow your growth down. i think the days are gone of double digit growth for the u.s. shale industry. as you know, most companies have too

su keenan is on the story.until now, there were some doubts over where the -- over whether we could get an agreement, so-called cheaters being the primary reason. what has changed? su: certainly the discord between the cheaters and leaders as it were had caused a big since aprile seen to falter a bit. at the breakthrough with iraq, which was one of the countries that was not their quotas, angola, kazakhstan, and nigeria were others, but iraq was viewed as the big offender. russia and saudi arabia had been wrinkling with them all week and finally appeared to reach a tentative agreement that they will abide by the quotas. the pressure on oil was a big deal because the huge rebound in oil prices certainly helped to revive the fortunes of major energy companies like exxon and royal dutch shell. the agreement, which still has to be ratified, means opec-plus will extend its record production curbs for another month. these are unprecedented limits on production for the group. these cuts will now go into effect until t

su keenan is on the line. have had areas discord between opec leaders and opec cheaters. uncertaintycord and about the meeting -- we did not have a date and now it is maybe this weekend. it rankled a market a little bit. that crash back in april, many believed that an agreement to extend the output cut will be critical. arabia,russia and saudi the opec leaders, putting pressure on iraq, nigeria and others that have exceeded their production quotas and may. may. in brent crude, it has been able to hop back above $40. the agreement still needs to be verified, which means opec will continue its levels until the end of july. the rebound in oil prices has helped to revive the fortunes of major energy companies like exxonmobil and shell that were significantly hurt by the crash. it could have brought billions of barrels onto the market, undermining that tentative recovery. as you saw, oil is a little bit weaker. straight for the sixth week of gains. guess part of that story was the news out of american airlines. why

withe: that was su keenan an update on what is going on. still some tense moments in the streets of minneapolis this evening. we will continue to bring you more updates as we see them. karina mitchell is in new york with an update. >> president trump is ratcheting up his confrontation with china, vowing to end hong kong's special trade status after beijing approved new security laws. legislators will review the city's links with the u.s. chinese companies listed in new york will come under closer scrutiny. china's latest incursion along with other recent developments that degraded the territory's freedoms makes clear hong kong is no longer sufficiently autonomous to warrant the special treatment we have afforded the territory since the handover. promised replaced the formula of one country, two systems with one country, one system. >> meanwhile, brazil has announced a record number of new virus cases at has overtaken france with the nation -- overtaken the nation with the fourth highest death. fatalities nearing 29,000. -- divisions are eme

tom: su keenan, thank you for the update. continue to watch developments in the united states as protests enter their seventh night. we will bring you pictures now, live pictures from washington, d.c., where we see a continuation of these protests. president trump has come out with a strong line on the protests and riots we have seen in cities across the u.s., saying he is prepared to deploy the u.s. military of governments are not able to curb protests. many protests have been peaceful, some have been violent. we have seen looting over the weekend. this is a live aerial shot from d.c. president trump went out earlier for a photo op and had law-enforcement officers clear away, using things like teargas, to get that photo op. this is a view of the protesters. we have a curfew in cities like new york and washington, d.c. we have seen unrest in minneapolis and los angeles. stay with us. this is bloomberg. ♪ this is bloomberg. ♪ >> it is almost 11:00 a.m. in singapore and hong kong. i am haslinda amin with yvonne man. welcome to

su keenan joins us with more.s have anything to do with the fact amazon appeared to ban an e-book musk supported? su: absolutely. you have a pre-existing rivalry between the two billionaires. most of these ceos are investors in space clerk -- space exploration companies that technically compete with one another. musk's tweet has clearly escalated the feud. he came in response to a writer who said his self published e-book on the coronavirus was being removed from amazon's kindle publishing division for violating unspecified guidelines. that prompted musk to tweet out and incendiary message, time to break up amazon. monopolies are wrong. with more than 35 million followers, musk is a prolific twitter. he certainly raised the profile of the issue. he has also been criticized in the past from posts on subject ranging from the coronavirus outbreak to tesla's stock price. as for bezos, his company, amazon, said the book was removed in error and is being restated. as i mentioned, there is a rivalry on the space companie

haslinda: su keenan in new york., a silver lining for china as sales have a surprise pick up there. this is bloomberg. ♪ haslinda: and we are under an hour away from the opening of the session in bloom by -- in mumbai. how are things looking today? -- wecould hold for some could hope for some positive news. we need to understand that strengthened sentiment will stay now. real.oblem in india is the recent estimate of cases to rise 800,000 in about a month. we are opening up gradually. the question in front of the government is to support both lives and livelihoods. haslinda: india's largest automaker came out with its earnings. how did tata motors do? >> the silver lining in otherwise bleak results for jaguar land rover is it is seeing some pickup in sales in china as retailers reopened. but we should watch for a few months before we call this a recovery as we have seen a new spate of cases and in china as well. there are a lot of good points. there is improvement in china and the u.s. though the u.k. is still struggl

yvonne: that was su keenan with the latest on facebook.ng up, keep it here, this is bloomberg. ♪ a senior advisor to hong kong's chief executive says any u.s. sanctions over beijing's move to impose a security lock on the city would be a lose lose situation. the law will warn people not to cross certain redlines and will not threaten the principle of one country, two systems. when i say we don't know the exact details but we know the framework, the bill is to national security, specifically in four areas. subverting the state power successions and the terrorism act and foreign interference. these are very specific areas that the bill targeted. i think we basically know what it is. it is still down to the actual interpretation and enforcement. that needs to be a determinate. even without the details in hong secretary reassures us that the law will be enforced in hong kong. law, common law jurisdiction. it is quite clear that even though the law has been legislated in the mainland, the enforcement and the adjudication will be in hong kong. i

shery: that was su keenan with the latest on u.s.ntory data that will be due later wednesday as oil right now traits below that 30 get dollars per barrel level. really losing a little bit of ground after rising in the new york session. we have an alert on the bloomberg right now. we have heard from the company send that their chairman has died. this is according to their president. he was 85 years old. san miguel is the largest food and drink corporation in the philippines, also one of the largest in southeast asia. very much known as a household name because of its brewery business as well. san miguel of course operating 100 facilities in southeast asia and china and now it's chairman has died. that is according to the company president. we know that he has not been in the day today decisions of the company, but the chairman has died. he was 85 years old. this according to the company president of san miguel, the largest food and beverage corporation in the philippines. and we also have breaking news out of japan. we are getting tra

let's go to su keenan with the latest. two camps of thought.ying that the market is looking to offbeat. >> he also sees a possible way the white-collar unemployment. as we go on the bloomberg you is not on the -- he alone because the s&p 500 future are near the biggest net short since 2015. a lot of investors shared down lots -- dunlop's view in the near term is lower. in addition to seeing a pullback from the markets. he is bullish on gold long-term. and he also sees gold reaching new highs. he is also keeping his weak dollar call. he says the dollar can devalue against the number of currencies. andy had a lot to say about the fed. he expects chair powell to follow through on controlling the yield curve and warned that in the 1940's central-bank policy may make a return as bond yields for the 30 year continue to rise. he sees the central bank keeping the fed funds rate is zero for the next two years and he says traders you -- view powell as superman. qa, and zero rates, he says that they are the biggest kryptonite. and he says they are fail fo

shery: su keenan with the latest on oil.look as fears of the second wave grows. plus, j.p. morgan asset management's rebecca chung joins us. will the market stay on the back foot? we will discuss. this is bloomberg. ♪ ♪ >> is not like a.m. in beijing and shanghai. i am tom mackenzie. looking to bloomberg markets china open. ingles in hongid kong. markets are nervous as coronavirus cases spike. the top market in beijing is closed. a second wave of infections is coming. new revelations emerge in the carlos ghosn affair.

haslinda: bloomberg's su keenan in new york.iversity is a surge in virus cases can be tied to a number of factors. nursing professor jason holly spoke to uber surveillance. -- two bloomberg surveillance. clear the first thing is is there were some nonpharmaceutical interventions that were rolled back quickly. florida, georgia, arizona, texas. cases ine seeing is in states that remained closed longer now continued to decline, and places that opened earlier are really seeing these increases, day after day, quite friendly. of the risksome mitigation strategy we should be thinking about now for politicians, but also for individuals? yeah, i think everyone needs to understand there is no risk, other than staying home and staying with your family and avoiding contact with others, whose exposure you do not know. we have to recall that a center medic transmission to three days, that person could be -- a center medic trance mission -- ptomatic transmission two to three days, could be spreading the virus. it's really critical that politic

haidi: su keenan with the latest.cutive director says oil demand will weaken in the coming years. he says hydrogen is the fuel of the future. he was speaking to the mark about european -- to bloomberg about european plants to become carbon neutral. are onlyan emissions 8% of the global emissions. it is the same effect on everybody. what needs to happen here is investments ines the european green deal. they should make investments in such technologies that would inng europe on advantage terms of industrial policies. for example, electric cars, or hydrogen. this now, inork on a couple of years old here hydrogen being a key technology -- in a couple of years, you will hear hydrogen being a key technology. europe made a big mistake, in my view, 10 years ago. subsidizes solar power and solar energy. but in other countries, they took the leadership from europe and exporter to the rest of the world. but now, perhaps in europe learns from 10 years ago experience with hydrogen, with electric cars. they can continue to have lea

su keenan is watching this.eing the demand side of the worries at bay. >> at least for now. data is showing russia is slashing exports for export crude product to the lowest in a decade. that is assigned to many that moscow is determined to work with opec-plus partner to eliminate the oil glut. a boosted futures in new york trading by almost 2% thursday. we are seeing almost an additional 1% gain in electronic gaining. a limit of decline. it is still on track for a second weekly decline. we are seeing brent crude under pressure. a lot of it has to do with the supply glut limiting the rally we saw back from the lows in april. there is concern about the second wave of the virus. there is a decline in asian demand. signs that the lockdowns have decimated oil demand in india is starting to get a lot of attention and that is a big deal. 20the u.s., nine of the top gas guzzling states are showing upward takes and coronavirus cases. that is a concern and china save the dip in pmi suggest they will not have a v-shaped r

su keenan has more on this. what are we hearing from deutsche bank?is not officially commenting but a source close to the matter tells bloomberg it swiftly ended the informal talks in 2019. now, before wirecard's meltdown and the still unfolding accounting scandal, the stock plunged to new lows in the latest session. it apparently toyed with the deal that would have catapulted into the global financial elite. sources, the payment processing tech firm approached deutsche bank with an idea for some kind of combination or tie up late last year. the project was codenamed panther according to those close to the matter, and the prospect of the processor taking over germany's biggest lender actually highlights the sudden reversal of fortune that we are seeing for it. it had been the best performer in the dax 30 stock index in 2018. its value now is only a fraction of that of deutsche bank, yet it looks like there was some kind of idea that we might actually be able to do a major deal with deutsche bank. deutsche bank not officially commenting but said to hav

keenan with the very latest out of that drama.ns for the wirecard scandal was there all along. he's putting the blame on german regulators. the cio spoke with tracy alloway in this exclusive interview as part of our bloomberg invest global summit. i have been abused by the head andfrom the minister of finance in germany theuse, i mean, boston was most powerful accomplice wirecard had and i do not mean that in a facetious way. right? company, the this market cap, would have never gotten to $24 billion. havetor losses never would been the many billions of euros that they are, and but for bafin , they would not have raised net 2.5 billion euros for the market. bafin was the accomplice. what does this mean? is a tough one to understand. what it should mean is that the guy you quoted is going to be looking for a job next week. that is what it should mean. there are a bunch of other people from bafin who should be looking for jobs also. whether that actually happens, i do not know. but all the warning signs were there. the first warning

shery: su keenan there. let's get you a check of the latest business flash headlines. beginnings of demand rebound in china. million loss $630 in quarter three march but says sales grew more than 4% from earlier in may as showrooms reopened across the mainland. also reporting improved demand in the u.s. and europe, although it still intends to cut around 1000 staff. twoi: the company that owns of the biggest game hits seeing valuation sort. isc games says fortnite close to raising $750 million, giving it a value of about $17 billion. and in existing partners will also participate. china's largest online classified business agreed to a deal to be taken private with a valuation around $8.7 billion. they are listed in the u.s. and is being brought -- bought by investors group. the offer is slightly above monday's quote. the founder will hold majority voting rights at 44%. shery: before we head over to bloomberg markets china open, let's check on the markets right now. we are seeing asian stocks reversing three sessions of losses for the nikkei to gain the most grounded si

haidi: su keenan reporting on that megadeal.ou can get more on this big ofg deal on today's edition debris. bloomberg subscribers go to your terminals. .nd right there on the mobile you can always customize your settings. get the news on the assets that matter to you. one stock we are watching in the kiwi session, in new zealand rising 2% in the wellington session amid cost-cutting plans. gains of closer to even 10%. we heard from the ceo in an interview over the weekend. announcing plans to reduce wages by another 150 million kiwi dollars. reduce hours and job sharing part of this cost cut plan. they have let go of around 4000 workers. pandemic and travel restrictions have ground travel international airline travel to a halt. more to come. this is bloomberg. ♪ stocks seem set to follow the friday rally in u.s. equities. 42%s&p 500 up 2% and up since late march. trust sayshaverford do not be surprised when we get a correction. he joins us now from philadelphia. good morning from hong kong. thank you for joining us. we want to ge

su keenan is watching this.ould create one of the world's largest food delivery companies. su: absolutely. the $7.3 billion deal comes just as the coronavirus pandemic is driving a surge in orders. the dutch based company says it will pay $75 a share for grubhub, in an all stock deal with an equity value that is above $7 billion. and that as you can see pushed the stock higher and extended emerged.s details the deal also, as you mentioned, sidelined uber which had been an active talks with grubhub for at least one month. a big grab for grubhub, if you will, as the focus on delivery service in this pandemic has been extreme. of course, rivalry in the spaces also very strong. there were some antitrust issues that were raised with the uber talks. according to those close with the matter, they were concerned it might not win regulatory approval. uber has sent on email saying this -- they are not interested in doing any deal at any price. uber also said that huber and grubhub had agreed on a price but they were havin

correspondent, phil keenan reports tonight from miami. >> a record-breaking week for florida. saturday, an all-time high, high of 4,000. today, the sunshine state surpassed 100,000 cases since it all began. testing is increasing, so health experts are not too surprise. however, predictions that florida could become the next run a virus epicenter. >> the vast majority of the cases that we are seeing right now in the state of florida are with people who are presenting without any symptoms. >> he says testing alone can't explain the surge, blaming social distancing fatigue. florida's hospitals -- out in arizona, there is growing concern with 84% of the state's icu beds now occupied. the original epicenter in new york entered phase two of reopening today, allowing outdoor dining and retail to resume. nationally, spiky numbers continue to reach throughout the south and west. 22 states report rising cases, some all time high including texas and oklahoma. at the rally, social distancing was near zero and mask wearing, minimum. health officials are urging all those who attended get te

rishaad: thank you very much, su keenan joining us. to these markets, having a look at a mixed bag, the lows of the day in essence, regional stocks kicking off on low values. it does create more volatility there. the hang seng, for instance, in hong kong, we're seeing those of one third of 1% lower. the sensex ended a while ago. elsewhere, people are mulling the impact of coronavirus outbreak in countries essentially, a lack of conviction out there. we're white we're -- why getting these paltry volumes, as it were. haslinda: that's right, has to do with a second wave of the virus. well, that is it from bloomberg markets: asia. bloomberg daybreak: asia is next. keep it here with us. this is bloomberg. ♪ save hundreds on your wireless bill without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you'll only have to pay for the data you need- starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on

su keenan joins us on the line. let's start with dell enjoying a spinoff of its stake in vmware. the corporate computer giant is examining options for its multibillion-dollar stake in the software company vmware. we saw after the bell, shares of vmware and dell. dell soared as much as 20% after the wall street journal reported the computer company is considering its options, quoting people close to the matter, it says the options include a spinoff or so the stake in the majority-owned company. the journal is saying that dell has recently kicked off a process to explore the possibility of exactly how to maximize the value of its stake and boost the value of its shares. remember that dell was taken private at one point. since its return to the public markets in 2018, a lot of investors have been disappointed the despite the 50% rise in tech heavy nasdaq, dell shares have not reason as much. many market watchers are saying a transaction involving vmware could be engineered to help dell whittle down its $48 billion debt load. a lot of investors seeming to like the news as we can tell

su keenan is on the line. you are taking a look at the rebound being at risk since march.o from here? su: when you consider oil had fallen below zero in wti, it has been a huge rally. we are seeing extended trading falling from the three month high, new york traded west texas intermediate and brent as well. the u.s. government put out a report casting freshened out on the strength of the recovery of -- fresh doubt on the strength of the recovery of demand. russia and saudi arabia reaching a preliminary extension on cuts. if you look at that price chart, many investors and traders are looking about how oil has come .ack nicely from its march low unless they get an agreement from opec to extend these curbs, there will not be much keeping the price aloft. getting into the specifics of the outlook for feel demand, it is much weaker than thought following inventory data. fell to a-- 21 year low. inventories rose to the highest since 2010. separately you've got gasoline supplies also rising. that suggests that consumption is not rebounding on track with original projections. we

su keenan is taking a look at the stories. let's start off with the latest installment. it really is unbelievable. they proposed to sell stock which they described as potentially worthless. that filing failed to pass muster with the fcc so shares of hertz are falling after hours while it deals with the regulatory issues. the scrutiny from the fcc comes amid what some are calling a maniac, especially among individual investors. those retail little guys, if you orl, for shares of bankrupt near bankrupt companies we saw the big wild swings in shares of chesapeake energy as it approached bankruptcy, and we have seen wild swings into hertz recently as they prepare to make this additional sale of shares. the enthusiasm has really baffled fractional traders because as you may know, when companies go into bankruptcy, the sales typically get canceled and investors get left empty-handed. they did clearly state in their filing that the offering could indeed be worthless. this yout's turn to truck start up -- e-truck start up. it surged 500% in april but the founder is having to def