. >>> automakers, nissan, renault and mitsubishi are aiming to cut rnrnd costs b by up to 40%.rs of the three-way allowancnc say they will achiev that by having more parts andnd technology. the three automakers announced their plan on wednesday. they will promote what they call a leader-follower scheme based on the strengths of each firm. nissan will take the lead on autonomous driving while renault will tackle connected cars. mitsubishi will have plug-in hybrids and the alliance want some of itsts models to share se degree of corecomm bonents and platforms by 2025. >> this is s the time that we he to go through by knonowing the current situation of the covid-19 whichch is a very difficult time for everybody and eaeach company and thehefore th way of the working alliances essesentialorissan whicheans renaulttnd nissan. >> raultlt chairma said the new framewework focuses on efficien and competitiveness rather than volume. his comments make a departure from the expansionist policy pursued by his predecessor carlos ghosn. >>> the japanese government has launched a sub-city program

each company will focus on its strength for new vehicles, renault for electric cars and mitsubishi foramazon is in talks to buy drive-in -- driverless vehicles with zeus. a deal would accelerate its automation efforts. the price is likely to be less than one bill -- $1 million. will send outng layoffs this friday. about 1300 of their 18,000 members accepted buyouts. they needed to cut about 10% of their workforce. their planning to slash workforce by about 20% this year , bracing for a slow recovery and projecting ridership will return to just half of where was before the coronavirus pandemic. that is your bloomberg business flash. francine: thank you so much. bloomberg has developed a unique partnership with johns hopkins who has been at the forefront of the national response. every day, we bring you experts from public health, infectious disease, and emergency preparedness. us.k you for joining when you look at the cdc and combined testing data that we know, how much more do we understand this virus compared to two weeks ago? lauren: we are getting a better picture based on the incre

news this morning shares have risen under a new plan to reenergize its alliance with nissan and mitsubishiet's get to charlotte with more what can we expect on the alliance moving forward. >> the press came out a few minutes ago. the chair of the alliance insisting on the future of the alliance saying that it would be one of the strongest in coming here's also talking about how to maximize the assets across the three brands and meaning that each brand would take the lead in some region where authorities were the best at close to 50% of models would come under that scheme that would be up to 40% where we would allow them $2 billion in savings. it would be interesting to this press conference they kept talking about the future of the alliance saying there had been some doubts in the market hoping that this plan presented puts an end to this. about a change of spirit in the alliance and how the three brands would make it work. tensions had been new in nissan and some rumors that they would fall apart this pandemic would be the crisis needed to happen to come together as they needed in the aut

correct track that includes more systematic production sharing with alliance partners bring no end mitsubishi to cut costs and letting go of some of its own business course correcting in the middle of a pandemic will not be easy but it might even be harder for those the company is set to leave behind. hong kong status as asia's financial hub could be added risk after china announced it would bypass the region's legislature to impose its own security measures triggering mass protests across the city so far business in hong kong has been booming punching way above its weight ranking among top financial centers it has one of the biggest stock exchanges on the continent while plenty of investment banks call hong kong their home. let's take a closer look at the story now with max cam feld he's an economist at the him or caterer institute for china studies here in berlin he joins me via skype good to have you on the program max has china decided that clamping down on democracy in hong kong is more important than preserving hong kong's status as a just premier financial. i don't think we necessarily

only son and mitsubishi have unveiled a new cost cutting strategy is designed to salvage their 21 year old alliance the 3 car makers ruled out any merger but will share their production more systematically this which could cut development costs for new models by 40 percent. germany is recognized for many things around the world beer cars meat dishes well germany is infant nestle known for is the lack of solid mobile web coverage the government has been saying they're working on it but keeps having a hard time with telecoms companies which say and some spares the populated regions it's just not worth it a mayor in a small town in saxony now has taken it upon himself to get his city on line. to spoil castle is located high above the city of the same name in southeast germany 4 and a half 1000 people live there surrounded by meadows and forests know about what is the mayor. whenever he walks through the city people always bring up the same problem. and it's happening it's been a mobile phone network disconnects when you move around the connection breaks down regularly even sitting in your

huh noise pop of a three we- with me so and mitsubishi motors and it struggled since the arrest of its former chief executive carlos ghosn in twenty eighteen. the corona virus pandemic has worsened the company's fortunes with sales declining 25% in the first three months of twenty twenty. the french state owns a stake in her now and has been in talks with the company for five fifteen euro low gary. tell us here at the mall news offer also for about fifteen minutes time. he which i did. helloo and welcome to the e interview on france t twenty y four. how does the u. s. view the latest current affairs in the arab world so and we will discuss this with the us assistant secretary of near eastern affairs david schenker. chuckle at that the v. hello andnd welcome to france and for mr shanker. but i mean if we if you if you had to have that libya has been making headlines in the past few days how do you view the situation in the country considering the role that m made tornn powers m mr rh and esescalating the war. we hae made clear. we support an immemeate. cease firire thehe secretetary of

former head of the whole no nissan mitsubishi was allegedly smuggled out of the country and carefully planned staying. going apparently hidden in a large instrument case to evade. the japanese. police more on that as a develops more news to stay with us you wantnt to. twenty four. arctic is going to be exploited. and the scale of this expectation willl only grow we have a beautiful planet we need to protect it so. thahat we can use space exploration to better understand it. we we've moved from. that really to do but- john and down to earth we're explored the incredibly complex relationship between humans and ourur plan. we're hee to the tough questions and find answers t that might just surprise. down to a constant four i'm twenty four .com. twenty twenty was meant to be a middling year for the global economy with slowing but continuing levels of growth in just a few months things have been turned on their head by the corona virus pandemic and now we're heading for the deepest recession in ninety years. so how should policymakers be handling this and are there opportunities in this cr

already being addressed this week when the company renault with its alliance partners nisson and mitsubishi presented a new strategy and there it was all on the table everything that was going wrong at brno these past years really heartening also back to the days of the ones legendary carlos cohn too many people making too few cars earning. too little money with the renault wants to change this. drastically and part of the project is to cut production and concentrate on the most profitable cars and there were no management obviously sees the need to slash a lot of jobs in that context only bartz for us in frankfurt good to talk to you. here's a look at some other developments in the corona virus pandemic the number of worldwide coronavirus cases of top 5800000 that's according to johns hopkins university brazil reported a daily record of new cases on thursday with more than $26000.00 fresh infections it is the 2nd hardest hit nation after the us california has reported the largest single day increase in cases since the pandemic started several other u.s. states are also seeing cases rise an

. -- alongas started with nissan and mitsubishi. what about this new action from twitter?this is a new checks and balances you could say, and this is on president trump's twitter feed. we saw it happen yesterday when he tweeted about mailing ballots, twitter then amended that come which you can see there, talking about the fact that if you want to look about more facts about mailing ballots, click here. the president did not take this lightly. he tweeted that it is completely stifling free speech, and i as president will not allow it to happen. on top of that, he also said twitter is now interfering in the 2020 presidential election. so this is likely going to be another big fiery debate, in a very divided political scene as we head toward november. francine: what is the plan to reopen new york city? annmarie: it is the city that never sleeps, and i think it will slowly be coming out of slumber. governor andrew cuomo says they will focus now on reopening the city. the only region in new york state that is still on lockdown. rebuild track is to penn station as well as lagua

that, renault shares trading after the carmaker announced a revamp of its alliance with nissan and mitsubishilooking at new eu budget and fiscal stimulus for the european economy a lot of focus on the european-wide fiscal response. we've heard from the central bank and now to the european commission let's look at the breakdowns green across the board technology and health care are trading in the red ooze autos up more than 6%. renault strong the sector responding to new stimulus from the french government president macron unveiling a stimulus package he wants france to be the leader in clean vehicles. following the strong gains for u.s. banks yesterday which led the charge for wall street that's the picture for europe. brian, back to you >> thank you a lot of green on the screen there. when the lockdowns began, the wisdom was that the consumer would go into hiding, lockdown finances and stop spending the common wisdom has been uncommonly wrong joining us from his headquarters in medina, minnesota up nice and early. for an ex navy guy, nothing surprising you put out your press release saying y

this after the carmaker announced plans to deepen its ties further with renault and mitsubishi.rio has further measures to whether the last demand for autos. weather. the alliance was under pressure after the departure of a senior staffer. does -- what does this mean? >> you have to remember how nissan got here. last era it was about volume. nissan was trying to become the number one or number two automaker in the world, together with the alliance with renault and mitsubishi motors. uscourse, carlos ghosn arrested in 2018 followed by management terminal an aging vehicle lineup. in the credit virus has changed the dynamic. nissan needs to retrench and take a hard look at its cost and there out how to preserve business it has rather than chasing growth. haidi: what are the most see stomach issues that would manage to address -- systemic issues? >> the plan is calling for ¥300 billion in cost cuts, to put a billion dollars, based on a reporting. they are going to take a hard look at production lines, and look at marketing research, manufacturing costs. that is essentially going to

clotilde: the first priority is to make sure we excuse the plan that we have with nissan and mitsubishilready a partner. we are already doing cars together. for me, daimler is already a partner. looking beyond this is another wery, and clearly, i think should first try to make sure that the excuse we have in mind both for renault itself on this cost reduction plan, and for the new alliance we are working, is indeed delivering before welcoming additional partners. matt: how much money can you save across shared processes like sharing research and development on autonomous driving, shared research and develop, and even battery production in electric cars? can you save a lot of money that way? clotilde: we don't give global numbers because we still need to implement, but we can give you an example. if i look at the development of a previous generation of cars versus what we want to do, making sure the common platform stays calm until the end, making --, andlower the producing at the same plants, our simpson's we could save up to 40% of develop and costs. that is huge. the example we have i

but even before that, nissan and its partners renault and mitsubishi were battling to re—organise their billions through much closer co—operation. all leaders and followers vehicles for all brands will be produced in the most competitive set up, including grouping older production, if releva nt. grouping older production, if relevant. compared to our current performance, this scheme will reduce by 40% our model investment. this is around 2 billion euros savings on the future renewable of our suv models. joining me now is anna—marie baisden, head of autos research at fitch solutions, here in london. thank you forjoining us. we got this figure of up to 20,000 jobs to go. would you concur with that? yes. nissan, even before the coronavirus, was in a difficult financial position and the coronavirus in the last quarter of the financial year has made it much worse. we've also seen renault talking about the need to restructure on the back of its first loss so it will take wide spread job cuts and with a strategy the alliance is talking about and the fact that each brand will focus on the diffe

mitsubishi is heavy. nissan steel is among names to report. stocks are nearly halfway to recovery.ing lower for a third straight session. let's turn to south korea. we are seeing trade. the benchmark is up more than 30% from its march low. this is from the impact of the virus. we are looking at a risk of a second wave of infections. the korean won holding steady here. in april 29 hi. over in sydney, after a two week advance, opening higher by a third of 1%. we are seeing the yield curve steepen between a gap of three and 10 years. this is around 70 basis points. this was a new syndicated bond sale. let's check on the u.s. dollar. a one-week low as we are recapping a two-week decline on friday. that cheddar is building up. plus, we have supply pressures. we are seeing the 10 year yield up by one basis point early in the asian session. u.s. features are fluctuating and up by about a third of 1%. checking in on the offshore yua n, we are waiting to learn more details. is losing ground after a two-week rally. we are seeing that gain traction with hedge funds, the most bullish on wti in

in japan, they were surprised mitsubishi and mizuho gave downgrades to earnings guidance but kept dividendss a marketplace, relative to other western markets and put the numbers in front, if you look at the dividend yield on the u.s. market, it's at 2%. in japan, it is 2.7%. been onally japan has dividends. i think that will be the focus in years to come. haslinda: as much as the markets are focusing and all the optimism to do with the virus of the we come out locked down a successful way, the risk from trade, the trade war between the u.s. and china is pretty real. how do you play the trade risk? >> from an economic point of view, the trade war has severe implications for the u.s. economy.nd the chinese i think the stock market however is a different place altogether. if we just look at the index of the market, what did they mean by that? the big companies in ms your china that come from 40% of the value are tencent, alibaba, and others. it is little exposure to the u.s. china's stock market through 2021 is trading on 11.3 times earnings, and we reckon it's growing 10% and the marketplace.

renault and its partners nissan and mitsubishi were already struggling to reorganise their business following are already back to full time, face to face learning. our correspondenent shaimaa khalil has been finding out how everyone is adjusting. back to school after nine weeks at home. go and pop your bag in the classroom. a familiar place in very different times. even the school drop—off has changed. a quick goodbye at the gate and hand sanitiser to start the day. watch over the students, teachers and families of st columba‘s. there are no more big gatherings st columba‘s primary. morning assembly and prayers now happen in small groups. ..and the holy spirit, amen. and in pe classes, contact sports are out. almost everyone is back in the classroom here but social distancing with children in school is tricky, if not impossible. instead, the focus is on good hygiene and doing what they can to minimise the risk. after getting to grips with learning from home, students now have to adapt to the new safety measures. a bit different to when i left. there‘s hand sanitiser in all of the classroom, l

now that's who they believe is a suspect in a brown twenty-twenty mitsubishi outlander sport, he drivearks, the car then comes walking to the house, but little does he know someone is in the car and is ready to put up a fight, she's very brave i am so surprised. she was. >>she was pretty shook up i feel really bad for her she was really scared, but that was that's. >>the bold move of her. >>a young hero who stood up. but now a family left wondering if this could happen again it was less than 5 minutes from the moment that she walks in the door to the car and i mean we do that all the time so. >>it's kind of scary just always have to be careful and watch out for your surroundings that like theirs. just people watching all the time you know even when ever you don't realize it. >>that's that is everybody's at home. these days to go and a lot of people have their fell off and you have a garage up as you're bringing groceries in from the trip to the store and you know these days you know getting all right. we'll take a quick break. it is 9.51 when we come back. a quick look at a graduation

they will get together with mitsubishi on a project, with renault in france on another project.om line is the focus is on the u.s., china and japan and they will put their saved resources from elsewhere into those three markets. stuart: the stock is at $6 a share. my, how times change. ash, thank you. >>> microsoft, the stock is up this morning. got a gain of $3 a share right there. by the way, windows 10 is finished. what's the story there? the full story, susan? susan: i wouldn't say finished. it's updating but it's coming with a lot of flaws. a lot of people don't want to use it. windows 10 says that look, they fixed the zero day vulnerabilities which was access points for hackers to get in. and to make things worse, they admitted some parts of it won't be working and that includes the augmented virtual reality experiences, it won't work correctly for some users according to some of these reviewers. also, it's been losing files. you can't work google chrome with it. there are a lot of factors to i guess hinder the usage of it. look, microsoft has said in its recent earnings t

renault and its partners nissan and mitsubishi were already struggling to reorganise their business followingb losses over the next two years. staying in france, as lockdown measures continue to be eased, the prime minister has announced a re—opening of bars and restaurants, which he said were a central part of the french way of life. parks and gardens can open this weekend, and in some parts of the country, schools are preparing to open next week. rich preston reports. police enforcing social distancing in paris. reminding people to keep apartand to in paris. reminding people to keep apart and to stay in groups of fewer than ten. now, as the country enters its second phase of lifting lockdown restrictions, restaurants and bars have been told they can reopen next week. wedding staff will have to wear masks and in badly affected areas like paris, only outside terraces can be used. translation: we are exhausted by this invisible enemy that has exhausted our morale, that will maybe bring us to our knees financially. parks and gardens will open as of this weekend, their gates locked shut since ma