davis, who needs capital and manpower, goes into business with wealthy san francisco merchant levi strauss 20, 1873, american blue jeans are born. a pair costs about a buck. levi's markets their denim overalls as the uniform of the working class. >> who bought them at the time? >> miners in the west, farmers, mechanics -- anybody that did hard labor would have bought levi's back then. >> that's because workers love how tough and durable the pants are, as this pair from 1890 proves. >> from the 1800s? i mean, they feel like they could be right now. they really could withstand a lot. >> absolutely. >> so it was all about strength? >> it was all about strength. >> now, here's something really important to remember in this "strange inheritance" tale. in 1906, the epic san francisco earthquake devastates the levi's headquarters... >> their building, it was completely leveled. >> ...along with all of levi's records and inventory. the first 30 years of the company's history -- gone. of course, for the next century and more, the company thrives. indeed, the pants it manufactures become an american

starbucks, levi strauss, pepsi, and diageo are the recent to curb spending over posts that glorify violencermation. facebook then rated more than $17 billion in ad spending in the last year alone. u.s. shale and gas leader chesapeake energy has become one of the most visible price crash victims, filing for bankruptcy as look run of ours devastates parts of the economy. they applied for chapter 11 protection and is entering a deal to eliminate about $7 billion in debt. coming up, china's industrial profits rise for the first time since november. an update on china's recovery end of the week ahead in asia economics with our guest. plenty more ahead on "daybreak: australia." this is bloomberg. ♪ anchor: good morning. we are counting down to asia's major market open. anchor: welcome to daybreak hf. anchor: protest return to hong kong as china's lawmaking body debates security legislation. police have banned the march this week. tops 10oronavirus cases million. debt surpassing 500,000

hershey's, ben and jerry's, and levi strauss have also joined the protest. if you bank with chase, you may have noticed an error in your accounts this weekend. chase customers nationwide posted on social media about incorrect account balances including wrong charges and lost funds. in a tweet today, chase blamed on it a technical issue and said it was fixed by 6:00 this morning. the bank said it delayed updates on what displayed on chase mobile and chase online. >>> amazon is buying foster city self-driving company for $1.2 billion. they've been testing out vehicles regularly on the streets of san francisco. they could use the ougautonomo g vehicles to deliver packages and other services. they are focused on providing rides for passengers or what some refer to as a robo taxi. they are expected to remain in their positions when the deal closes. >>> now for a check of the weather. drew touma joining with us what our weather will shape up for in the week. drew? >> yeah. it will start with those winds that will be increasing, prompting the red flag warning start

starbucks, levi strauss and pepsico were among the most recent companies to curb ad spending.he boycott is aimed at pushing facebook and peers to promote -- to crack down on posts that spread racism and misinformation. francine: let's get back to the markets and coronavirus. joining us now is the chief investment officer at -- investment management. what happens to risk management from here? >> it is a fascinating issue and we have a pull and push for markets. covid-19 crisis reemerging, companies will take flight. central banks and governments determined to ensure there is sufficient cash to avoid a credit crunch and central banks are funding government. there is plenty of cash to ensure the amount available for household spend is highly elevated and companies themselves have cash. francine: a recent number of infections rise, we hit a grimtone today, a milestone, topping 10 billion cases of coronavirus and 500,000 deaths worldwide. if we have a second infection, cases rising again, will markets correct? james: unless more actions are taken to curtail the state of the virus,

levi strauss, honda, hershey, coca-cola, you name it. they are the dominant players, not only as household brands but in the marketing and communications business as well. i think facebook is learning the hard way, if you will, rosemary, that if you tiptoe around issues like this, where it comes to issues of hate and campaigns like black lives matter, you're going to pay for it. even the answer by nick clegg, we can't wipe it out entirely, we'll do our best, that's counter to jack dorsey who's seen as taking an aggressive stance particularly against the white house, particularly when we label content from donald trump. that's not how facebook is perceived right now. because it is so large, 2.6 billion monthly users, many are thinking it's kind of too big to fail. is that the attitude within the company and why advertisers are saying, you know, this started with outdoor apparel companies. bep and jerry's ice cream. very progressive companies. now that it's gone mainstream, it's like there's a wake-up call in particularly to facebook. >> g

and levy strauss said facebook's inaction is fuelling racism and violence and threatening our democracyns. >> not going to cry over this for mark stuckzuckerberg. he went down a step in the richest billionaire list to fourth place. let's talk about some of the advertisers. you mentioned them. there's huge names and i'm old enough to remember coca-cola was one of the significant companies to pull out of south africa after apartheid and take their money out. that was one of the significant blows to the economy there. do you get a sense when you see the bold print names out there that facebook will finally realize, no we need to do a lot. >> right. these advertisers have facebook's attention but we have been through this before. facebook promises to do more and yet we see hate speech on the platform. so what facebook said they're going to do this time around is add labels to posts that it deems violates its policy from an important political figure about voting with a label to direct users to accurate information. >> we'll leave it there. thank you so much. >>> and thank you for watching "

joins what coca-cola, hershey's honda, levi strauss, unilever, the household products maker.is is extraordinary in terms of the speed in which it's moving. i think facebook is finding out that perceived complacency is not working when it comes to black lives mater and this silver action that's been taken. it's only a week old, rosemary. let's listen to their response. >> i'm not going to pretend that we're going to get rid of everything that people, you know, react negativity to. not least as you very well know politically. folk on the right think that we take down too much content. folk on the left think we don't take down enough. we will continue to do what we think is the only sensible way forward, to have clear rules, to bear down very aggressively on hate speech in particular, remove it from our platform where we identify, which we now do with greater speed, greater velocity and a greater quantity than any other social media company. we understand this is a very fraught, intense time in the nation and will continue to demonstrate our sincerity in dealing with this proble

pepsi,ks, levi strauss, are the most recent to curtail ad spending over posts that glorify violence andcebook generated more than $17 billion in ad spending in the last quarter alone, but the rising tally of withdrawals threatens to add to the exodus. >> it is a challenging start when it comes to risk assets, including risk-averse currencies with what we are seeing across the region. we have seen dollar-yen seeing some strength, gaining off the back of friday's session. 107 is what we are seeing when it comes to trading in dollar-yen. retail sales numbers did see a minimal gain month on month. it is still worse than expected to show the depth of the retail and consumer slump as japan exited that state of emergency in the month of may. 7.0835.hina trading at the chinese market coming back to trading after two days on holiday. aussie showing risk aversion. gains,he recent run of it seems the aussie as well as the canadian dollars there. let's look at how equities are trading. downside, risk assets starting the week off on the back foot. the nikkei two to five off by 0.6%. expected to show

starbucks, levi strauss, and pepsi were among the most recent companies to curb ad spending.ike glorify violence and spread disinformation. that is your bloomberg business flash. the: chesapeake energy, archetype of america's extraordinary shale gas fortunes, has become one of the industry's biggest victims of the collapse in energy demand. it has filed for bankruptcy and is entering a deal to eliminate about $7 billion in debt. meanwhile, crude is extending its drop after its second weekly loss since april. that is as coronavirus infections and fatalities surpassed grim milestones. in a reminder, the outbreak is far from under control, threatening demand for oil. credit suisse international wealth management ceo, is still with us. what do you make of the wild ride in oil -- the wild oil that has left it in a fairly low place? we are looking at nymex crude trading. clearly there is not a lot of demand in terms of driving and flying yet. do you expect to see a big rebound? certainly thought of the oil price having from the wherend the crazy state for a short while where negati

it's on levi strauss's web gapae we're starting to put into place an action plan to really drive theur corporate head quarters. i guess the other -- >> operational -- >> go ahead. >> i was going to say, chip, operationally, within hr, what kind of adjustments need to be made to get half of your candidates be people of color? if the job is open and you're not at 50%, the job remains open until further notice >> there's no question, carl, we are able to prepare candidate slates that are 50% people of color. that's not an issue. we'll be able to do that we've been doing it the last couple months. for us to make the transition -- this starts fundamentally, deep inside you have to believe a diverse organization, you have to believe they're going to outcompete ho moj nous organizations organizations. if we're not actively fighting racism and putting as into place to do something about it, then we're come police it and the best place for us to start is inside our own house. that is first and foremost our focus. and there's no doubt we will not have to compromise to make progress, and i beli