tesla and panasonic. elon musk is in a twitter battle with the battery supplier, saying they are responsible for the constrained reduction of the model three. ♪ alix: i'm alix steel. welcome to bloomberg "commodities edge," 30 minutes focused on the companies, physical assets, and the trading behind the hottest commodities with the smartest voices in the business. first, we kick it off with our take on the bricks story. joining me is derek brewer, director of energy group. our spotlight is on oil. prices hitting a six-month high as president trump says he will issue no waivers to countries buying iranian crude. many analysts say it provides upside risk to the market. >> as high as 100 or as low as zero. >> i doubt $100 looks likely here. >> about 70. >> for us the base case is 82 on brent. >> there is a natural cap, even if you may see a knee-jerk reaction or spike. it is unlikely to last too long. >> and there is a risk prices keep rising. >> we saw a quick jump of two dollars a barrel already. but there

and musk very recently sort of throwing panasonic under the by talkingt like, about how panasonic's batteryines were holding model 3 production back. and it seemed to be a sort of making, you know, excuses for, you know, tesla ofing some real sort operational issues lately. tesla has tried to sort of put notion that they have demand concerns. but obviously wall street has really taken tesla at its word from that regard. the shares are down about 20% year. >> all right. lots to continue to follow. craig. thank you so much for those updates. up, sri lanka shuts down social media in the wake of bombings. how facebook and youtube are feeling the weight of the world, next. check us out on the bloomberg app. ♪ >> the sri lankaian government media andown social networking channels in the wake of a devastating easter attack. officials are hoping to stop the flow of possible hate speech spread onn known to social networks following attacks. includes youtube and more. this isn't the first time a country has taken this measure combat hate speech. the question is, will it work? we've got ivan, the exec

and elon musk takes on panasonic. who is he not taking on? the midst of a public .ispute with panasonic one analyst's recommendation? go to couples therapy. david: joining us now, peggy collins. talk about the mullah report. ubs made it important and not necessarily in a good way. lixalex said, the vice -- a said, he was contacted by a senior kremlin official soon after trump was elected. said, it's an unusual name to pop up in the report, showing how the ubs executive in the investment banking unit that work on russia in the dealings for them, essentially a basically looked like he reached out at one point to the trump campaign, saying -- hey, potentially i have a way to set up a meeting for you. when questioned by the mueller team he said it wasn't between trump and putin directly, it was between a russian presidential aide basically trying to see if the trump campaign or trump could speak at an epic -- economic forum. david: when i was at abc news someone from another government, not russia, said the you know anyone from the incoming admin

panasonic, on the other hand, is very deliberate, very conservative.y are a japanese company that walks before it runs. it was always kind of an odd pairing, these two. just when this plant was getting off the ground, you have the situation where musk would talk about the billions they were going to spend on the facility, the biggest in the world, and sure enough, overnight you would hear panasonic executives be much more nervous and talk about, well, we will decide these investments later. this is definitely a strange pair from the beginning. vonnie: thank you for the update. that is bloomberg's craig trudell. factors try to find the best names for particular areas typically come about what happeneds when the bad stocks -- what happens when the bad stocks start to perform well? you are calling these anti-factor stocks. explain what you mean by this term. reporter: typically when you buy a factor fund, it is looking for the stocks that meet the best characteristics for that, so the best quality stocks. -- it is sort of different the way we are thing to

remember, panasonic according to reports out of japan is freezing its investment in the gigafactory. pana cell lines at giga are approximately 24 giga watt hours per year no choice but to use other suppliers for power wall/power pack cells tesla won't spend money on more capacity until existing lines get closer to 45 gigawatt. this has been an ongoing debate at least over the last several weeks last month between what's going on with panasonic. yoong this is the end of the tweets from elon musk or reports from panasonic now let's talk about the other subject elon musk was tweeting about over the weekend it has to do with tesla's autopilot. he writes, please note that the price of tesla full service driving option will increase substantially over time. that was one tweet another tweet not long after that said on april 22nd, investor autonomy day, tesla will free investors from the tyranny of having to drive their own car. so this sets up a couple of key things to look for from elon musk and tesla over the next week and a half. on thursday, that is the two-week deadline that the judge

panasonic. student loan debt tops $1.5 trillion last year.o eliminate down student loan debt for millions of americans. today was the story of oil. rising to the highest level in almost six months as the u.s. announced it will not reissue more,il labor spared for kevin cirilli is standing by with one of the key policymakers for iran and the trump administration. brian we are joined by hook, the u.s. special representative for iran and a senior advisor to secretary of state mike pompeo. no more waivers. why? brian: because we need to do night i ran the revenue it needs to destabilize the middle east from all of its proxy wars. secretary pompeo announced a year ago that we are going to be going to zero imports of iranian crude oil. to take off about one .5 million barrels over the first, i would say, maybe the last 10, 11 months. now we will take off the remaining million barrels. kevin: i was struck by the secretary pompeo earlier today providing some ambiguity in terms of whether or not there will be a push of the deadline. passede any extens

this is one where panasonic spends a lot of money alongside tesla to build this plant.assive factory in nevada. it has raise real questions about the relationship. it is really important for both companies. tesla can ill afford to have this relationship fall apart because of how much they are sort of invested in one another. interestingly, while muska was tweeting away this weekend, he hung panasonic out to dry and said their battery cell manufacturing lines at the giga factory were actually holding up production of model 3 sedans which is kind of an interesting is puzzlingso just given the drop in deliveries we have seen with tesla. you would think that they are not having a problem with production, they are having a problem with demand. emily: we will be watching to see how all of that unfolds. craig trudell, thank you for stopping by. xpeng cfo says auto sales in china are seeing significant decline compared to electric cars. he also talked about tesla in china and how china scrapping its subsidy to the in surety -- industry could wipe out smaller players, something

also the report says that panasonic is not making as much of ae of an investment in the china plant. and a lot of this has to do with the model 3 and specifically whe whether or not you can be profitable it the a lower price point. you take a look at sales, and they slowed down in the first quarter, mainly because of the lack of a federal tax credit or the federal tax credit being cut in half invite united stat the s and tesla responded late today by saying that we disagree completely with this report, both tesla and panasonic continue to invest substantial funds into the big ga factor bt. guys, back to you. sgla. >> sounds like tesla is batting the report down, but if you were to see some sort of pull back in investment from panasonic for example, i would think that it just -- once again hammers home the focus on cash and maybe the lack of potentially enough of it at tesla >> well, it depends on whether or not you truly see a pull back in investment. there have been a number of these types of report and you hear people saying that panasonic is getting out time and again the reports

we have the news of scaled-back investments in the factory between tesla and panasonic.does that say now? .there's no doubt this is a fork in the road for them. the demand they are seeing in the u.s., and you see what is happening in europe, and when you look at panasonic, that is a linchpin of their success, so right now, this is going to be telling for musk and tesla. we think they will emerge from this, but ultimately, more competition comes on. tesla has to show a spike in demand. otherwise, they have to raise capital in the second half of the year. that continues to pressure shares. great stuff. appreciate your perspective. thanks to dan ives. for more on uber and lyft, i want to bring in josh from san francisco. really interesting comments about the brewing tension between uber corporate and the drivers. we know there's been tension for a long time. they put it plainly when they said more or less that we have to make more money and that is not going to make our drivers happy. what is the state right now of relations between the massive driver fleet and the company,

. >>> tesla shares are falling after a nikkei report that the company and partner panasonic freezingy panasonic has been a long time partner with tesla on battery development. two companies planned to raise capacity at the factory by 50% next year, but the report says from nikkei says that financial problems are forcing panasonic to reconsider. that stock down a little over 3.5% on that news. >>> disney expected to release details of highly anticipated streaming service. one of the big things to watch during the company's investor day which kicks off this afternoon, joining us right now to discuss it all is jim stewart, new york times columnist and friend of the show and cnbc contributor >> nice to be here. >> what are you really expecting and let me just contextualize this which is to say a couple weeks ago we had a big announcement from apple about the future of their ott service. they showed you all sorts of hollywood stars and yet a lot of people walked away from that without any meaningful detail. do you expect to see details from disney? >> yeah. i think disney will put on a go

. >> despite that, tesla and panasonic putting their giggia facto factory expansion plans on hold. you own the coal. >> i own the coal in tesla it's a bad rating. downgraded 270 to 240. they're putting a billion dollar and a half gig afactory on hold. i'm citing the nikkei for that but if that's the case, panasonic might not be a bad investment. >> that's it for "the blitz. >>> let's get to contessa brewer we have a developing story in the consumer space. >> i'm just off the phone with sources close to the situation and cnbc confirmed that billionaire golden nugget houston rockets owner tillman fertitta are kicking the tires of caesars entertainment the giant opened its books and data room so perspective buyers can review nonpublic information. caesars is willing to entertain offers if it's the most expeditious path to creating value. really it depends on what the price is on the offers but my sources close to the situation deny that the board has made a decision about selling the company at this point. in fact, one of my sources points out carl icahn's three directors are reviewin

and word the company is tempering expansion plans with panasonic. -- panasonic on the giga factory theymped so much money into an the past two years. >> i think it's a case where these are two companies who have spent a lot of money on this facility for years. after the performance of the first quarter, you have to take stock of are those investments we plan to continue to plug into this plant, do those make sense? we had a real serious falling off in demand for the model s and model x in particular in the first quarter. the model three did not live up to the performance it had to close 2018. you have a case where these companies are sort of taking stock and taking a breather here before they decide to go further with more investment. vonnie: pinterest is hoping to raise almost $1.3 billion in its ipo. the company is starting a roadshow to pitch to investors. this is the maker of online inspiration boards. >> right. vonnie: how much can it monetize that? it is clearly doing pretty well in advertising so far, but is it really worth $15 to $17 a share? something like 70 million shares in

times" reports panasonic has decided not to expand battery manufacturing capacity at tesla's factory in reno by 54% next year. it reports panasonic has suffered millions in losses because of the slower than expected ramp-up of model 3 producti production. they want to reduce their dependence on the automaker. the demand for batteries remains strong. >>> we're learning more about when san francisco sales force transit center may reopen. cracked steel beams forced the facility to close in september only one month after it opened. the board overseeing the center says work to install a permanent fix should start next wednesday. repairs could be finished by early june. the repair work will need to be inspected. an opening date for the public has not been set. >>> on the peninsula the union representing two of the bay area's top-ranked hospitals has voted to authorize a strike. 85% of the union's 3,700 registered nurses at stanford health care and the children's hospital voted to move forward with a potential strike. nurses are asking for higher wages and safer work place conditions. it co

now elon musk is pointing the finger at panasonic.lity -- the possibility of delivering cars and making profits. next we will hear exclusively from the ceo of japan's company dubbed the king of deals. this is bloomberg. ♪ >> sri lanka has shut its stock exchange until further notice after more than 200 people were killed in bombings. the government says some of it was carried out by suicide bombers and people have been arrested. the attacks on foreigners and christian locations. while this goes on, we must precautionsy were not taken. first and foremost, we have to answer that -- we have to make sure terrorism does not lift its head in sri lanka. we are prepared to take all measures necessary to ensure this is wiped out in the country. : president trump said there is nothing wrong with accepting help from russia. that anyiani told cnn candidate would take the information and it depends on where it came from. the comments are part of the trump administration's response to the mueller report into alleged russian interference in the 2016

panasonic, have put their plans to expand the gig factory on hold tesla shares down just about 3% to 268 now to sue herrera for a cnbc news update. >> hello, kelly. hello, everyone. here's what's happening at this hour the editor in chief of wikileaks, lashing out over the arrest of wikileaks founder, julian assange in london, calling it political persecution for doing journalism assange taken to court in london after british police arrested him at the ecuadorian embassy. this paving the way for his possible extradition to the united states. >> if this goes forward, no journalist, anywhere in the world, will be safe from extradition to the united states for doing his job or even to another country. so this must stop. this must end. >>> former penn state president graham spanier has been given three months to report to jail to start serving his sentence in the jerry sandusky case. spanier has remained out on bail since his 2016 conviction. >>> and the u.s. postal service says the number of postal carriers attacked by dogs nationwide fell to 5,700 in 2018, more than 500 fewer than in 2

tesla and panasonic. is in a twitter battle with the battery supplier, saying they are responsible for the constrained reduction of the model three. ♪ alix: i'm alix steel. welcome to bloomberg "commodities edge," 30 minutes focused on the companies, physical assets, a t

. >> tesla and panasonic have pout hold plans to expand the gigafactory. the two companies joint me make the battery packs and some investors have expressed concerns for tesla's vehicles and demand for its energy sells and continues to outpace supply. the stockell 2% to $68.42. there arets tonight that the owner of the golden nugget ti tito furtita and according to cnbc caesar's has not deced to put i up for sale and caesar's closed at 940 and el dorado at 48.97. >> health care reform has been front and center in washington for years ow, butcourse, re-working the system has prove to be an incredibly complex undertaking and while that topic was in focus again today at the nnual democratic retreat in leesburg, virginia and that's where we find elonmui tonight. >> they tackle the cost of prescription drugs and access to care in the coming months calling it one of their top priorities. >> i want to focus so much on health care because that goes right to the kitchen table and financial security of america's rorking families? lawmakers heard kaiser permanente ce

wasaid last week the plant not operating at full capacity but is pointing the finger at panasonic. raises questions about tesla's ability to deliver cars to make a profit. samsung is delaying promotional events in hong kong and china for its new folding smartphones. it had planned to show them off, but early test models have come under criticism in recent days over their durability. let's check in with these markets. with quite a few countries still on holiday off the back of the easter weekend, got a few pockets of action here with little liquidity. .hina, though, back online brent crude on the move on a tear up 2.4% after speculation that a limited announcement could come through from the united states on iran. downussie dollar currently .2%. look out for u.s. equity futures. the s&p 500 many currently about .2% lower. amazon, facebook, twitter, and microsoft are some of the heavy hitters on tap. keepe going to definitely that in mind. also, more broadly speaking, the u.s. bond markets are going to on -- pceor pc data data on friday and pce futures as well. we will have another u

there are concerns within panasonic it has to do more within panasonic it has to do more with wall street tesla has had problems in the past with matching its factory capacity with the demand of customers. does this suggest that perhaps expectations of growing demand for electric cars are actually falling itself? it suggests actually falling itself? it suggests a lot of things. in terms of production, tesla has always had a problem in being able to make enough ca rs problem in being able to make enough cars to match demand. but now there is the additional problem of perhaps there is a waning demand for those tesla ca rs. there is a waning demand for those tesla cars. since tesla came onto the market, one of the only electric car makers, now that there are a lot more electric cars on the market, there is a lot more competition. that coupled with the fact that tesla has are pretty expensive and there have been consistent problems with them trying to achieve a more moderately priced electric car. all of that really plays into these concerns about tesla and its ability to match demand and whe

problem with their battery supplier decided to make their own batteries and cut ties with not just panasonic but also within video which is the lead chip maker in the country and they're probably the lead chip maker in the world they do a lot of software for a lot of different premium brands and because of all this to me it sounds like he can't pay his bills we know that based on his cash flow and the fact that the numbers were substantially less than sales and of course a huge loss for tesla and that affects not just the stock which was down over eleven dollars today at market close but it's impact in the future and we've seen a lot of drop downs including the promises of autonomous vehicles in a million robo taxis it's easy to hit the surface and over promise and under deliver and i think that a lot of investors are starting to be very wise to this and a lot of people are saying you know what i already have a tesla i'm going to look at other brands like riviera and or mall and there's a lot of product out there. speaking of thomas driving on autonomy day tesla c.e.o. must claim that it's f

the fingers pointing at panasonic. spat raises impressions about tesla's ability to make cars and make profit. dave: singapore stepping up its production facilities in the city state. it is already negotiating with two manufacturers and more help to build a wider community. last year at announced plans to build its first electric car factory in the city state and to electricits first vehicle in two years time. yvonne: let's look at the japanese markets. we are slightly larger today but volumes are very low here. only up by about a fifth of 1%. the yen hung during under 112 here at the moment. yields on your 10-year are just down one basis point ahead of the boj meeting later on this week. dave: equity markets were basically flat. slightly lower. we will dig deeper into the malaysian story as with other southeastern asian markets after this very short break. you are watching bloomberg. ♪ xfinity watchathon week has sadly come to an end. what, what, what! no! but don't let that stop you from watching the best shows and m

panasonic responded saying the nevada plant is not running at full capacity. reports from india say jet airways are close to a deal to keep itself in the air. the business owner says the -- says banks are considering an injection of hundred $50 million into the airline could this comes after an intervention of the prime minister. david: the biggest hotel and giving operator in cambodia says it is suspending money on a casino product -- project. the proposed development will be the largest to see a hotel in the country. yvonne: take a look at some movers here before the break. chinese banks rallying hard on the credit data we got out of china. you can see the china merchants bank, one of the star winners and 2019, up 3%. industrial bank of china also up more than 4.5%. as look at the board and look at the movers. a record high for a property developer. an upgrade from morgan stanley. and aac tech also getting an upgrade from ccb. razor shares on a tear, up more than 9%. across theoader look east markets, equities and treasury yields on the way up, echo start to

amid warns that the company is tampering expansion plans with panasonic. >> i think it's a case wherewo companies who has spent a lot of money on this facility for years. after the performance of the first quarter, you have to take stock of are those investments we plan to continue to plug into this plant, to those make sense? -- do those make sense? we had a serious fall off a demand for the model s and model x the first quarter. the model three did not live up to the performance it had to 2018. you have a case where these companies are taking stock and taking a breather before they decided to go further with more pinterest is> hoping to raise almost $1.3 billion in its ipo. the company is starting a investors. pitch to this is the maker of online inspiration boards. how much can it monetize that? it's doing well and never ties and so far, but is it really $15-$17 a share? >> expectations have certainly come down over the past couple of years. part of the story here is that pinterest had raised a $12 now it valuation, and looks like it will be a $9 billion company. expectations have

panasonic focus on nikkei after tesla is freezing expansion its battery factory.d hostage by the weather in japan. and some things in play with the uber ipo. softbank has priced its mega bonds, the biggest ever offering of a single trench. here's a look at the gtv library, illustrating how the is trailing by the most since shinzo abe took office in 2012. this highlights the winning appetite for japanese stocks among foreign investors as they billion in the22 first quarter. investors have a lot to consider especially into trade talks between u.s. and japan. abenomicshusiasm over is fading. plenty more ahead on bloomberg television as jill -- disney reveals its streaming service to challenge netflix. we are joined by chairman and ceo bob iger. and counting down to the japanese open. we have seen the topix trading at the lowest level relative to the s&p. global news 24 hours a day, on air and @tictoc on twitter, -- this is bloomberg. ♪ so with xfinity mobile i can customize each line for each family member? yup. and since it comes with your internet, you can switch w

elon musk has hit out at panasonic saying holos in production are laying delivery of the model three.heed it is less would like and it is a drag on production. not boostsla will investment until additional battery lines are up to speed. reports that expansion plans were on hold less week. shery: facebook is investigating a third major outage this year with users unable to access the platform or messenger, instagram and whatsapp. facebook atbegan on 6:30 sunday morning in new york and spread across the u.s. into europe and asia. it was back up and running three hours later but users were quick to vent on other platforms. haidi: general electric finalized a deal debate $1.5 million to a federal investigation into its defunct subprime mortgage business. it claims of umc mortgage misrepresented the quality of mortgage-backed security. they did not admit liability. washington is in no rush to reach a deal with japan when it comes to the tree deal because quote, they are too busy with china. we will get a preview of trade talks this week. this is bloomberg. ♪ the biggest week in television

tesla is dialing back on expansion plans for the battery data factory project with pentatonic -- panasonicn -- they a frozen spending on the plan but tesla saying they may be able to ramp up factory production at its nevada factory. of nearlyte decline 29%. david: let's look at china and the growing millennial problem emerging in the country as policy returns -- you have 350 million young chinese morphing into daytraders, turning to innovative and risky financial products. yvonne: let's bring in bloomberg's opinion columnist. one question everyone is asking about this asia rally is when are the young people going to come back in after being burned badly three years ago? , the investment options for young people are dwindling. meanwhile, cost of living is soaring. we just had a report today saying shanghai and shenzhen are the top five -- among the top five most unaffordable cities in the world. don't people need to find an apartment otherwise you cannot get married and have kids. on the other hand, we know nevers central bank raised rates. where do they make that money? wage growth is not

news service reports that tesla and parker panasonic are expanding plans.inal plan was to expand it by 2020. they have hit some financial issues. namely the tesla first quarter which clouded its financial picture and raised concerns. shares of tesla are down 3%. the stock pocket getting an initial boost. steve mnuchin said that the u.s. and china are close to a trade deal. >> the s&p is 2 points. back to you. >>> jason brooks, thank you. >>> menlo park leaders are explaining why they decided to end the red light camera program. the cameras were supposed to make the city street saver but citywide data shows that t-bone crashes decreased while rear and collisions increased possibly due to people stopping quickly to avoid tickets. >> more than 80% of the tickets were given to drivers outside menlo park and it didn't provide any additional safety. >>> another complaint was that the fines were expensive at $480. the city council decided to let the program sunset when the contract with the camera vendor expires at the end of the month. >>> surprisingly, the roads

rec tesla dialing back on expansion plans for the battery giga factory project, but panasonic has alreadyllowed billions of dollars. the two have frozen spending on the plans with tesla indicating it may be able to ramp up battery production. extendsfall on thursday the stock's year to date declined to almost 20% and we will be speaking to the ige ceo next. this is bloomberg. ♪ >> it is 8:30 a.m. here in sydney. the market open is 19 minutes away. sydney had a pretty lackluster session overnight, most u.s. stocks giving up gains, though we did have the s&p clinching that gain out of 11 sessions. volumes very thin, about 20% below the 30-day moving average. on tattoo day, we are awaiting trade numbers out of china to give us their idea of how this u.s.-china trade war is weighing on demand and volume. shery anh: in new york, it is 6:30 p.m. what you are watching "daybreak australia." launchedloomberg has -- uber has launched an ipo. warns near-term losses will continue. lyft fell in late trading. china's attempt to keep future tech stars at home is showing some success. the city has yet to

kailey: this was part of the discussion, the news that broke about tesla and panasonic ending their capacitylans for their battery factory nevada. that raises the question does tesla think it will meet those targets? maybe the demand picture is not what we think it is. vonnie: thank you. kailey leinz and tesla is down 3.3%. coming up, it is our global battle of the charts. this is bloomberg. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. vonnie: its me for our global battle of the charts. the fun part. you can see these charts on bloomberg by running gtv . kicking things off is alix steel. alix: a preview of my commodity show at 1:00. here is the oil market. the white line is the bre

the reports that tesla and panasonic decided that is too risky to spend more money on the plant because about the growth of sales. in a statement, they said they plan to improve existing equipment rather than spend money on new machinery. tesla said that the demand for batteries keeps outpacing supply. >>> the 52nd annual northern california cherry blossom festival starts tomorrow. there will be lots of events and exhibits all week along the area. we will wrap up with a grand parade through japan town april 30 first. organizers said the festivals the biggest celebrations of japanese culture on the west coast. >>> happening today, governor gavin newsom will address the growing threat of wildfires and what it could mean for the energy bill. just how high could the pg&e bills go if we get another destructive fire? i will have the answer, coming up. >>> and there is a new fire marshal for the oakland fire department. a couple of the big issues he will have to deal with to make sure the oakland buildings are inspected for the risk of fires. >>> it is a breezy friday morning. welcome to morni

tesla and panasonic reporting to be halting planned expansion of the giga factory due to financial problemsey have been reporting that plan to increase it by 60% by 2020. analysts taking that to me tesla is unlike you to reach its projected -- is unlikely to reach its projected sales volume . tesla told bloomberg it continue to make new investments and then out think they can gain more output from improving existing production equipment. take a look at the bloomberg. this is the daily moves for tesla. no stranger to volatility. this is the case. the stock is down 20% year to date. david: tesla saying we never needed that extra capacity. analysts saying we are not sure we believe you. emma: a little bit more skepticism. david: if there is skepticism, how material is a to tesla as a stock? tesla has an enormous market cap. if it is not going to grow as fast, what does that do to stocks? emma: you -- it has been valued as a growth company. take a look at the bloomberg. this shows the market cap for tesla, g.m., and for. tesla's market cap has come in below that of gm. it is still higher than f

tesla and panasonic.s in a twitter battle with the battery supplier, saying they are responsible for the constrained reduction of the model three. i'm alix steel. welcome to bloomberg "commodities edge," 30 minutes focused on theni

according to the asian review panasonic lost millions of dollars because production was sower than expecteds demand for batteries remains strong. >>> taking a live look at the new york stock exchange, we are up significantly, 275 points and this is just as trading is getting under way this morning. >>> disney is taking on netflix with its own streaming service called disney plus. pring from the marvel re superhero universe, the star wars galaxy, pixar, and the national geographic channel. ceo bob eye ger promises a game changer for consumers. >> what's the magic behind disney plus that will separate it from other streaming services? >> well, i think those brands and the connection the people have to those brands. this sets us apart from the rest of the world because of that connection that people have to these beloved story tellers. >> disney plus launches on november 12th so mark your calendars. it will cost $6.99 a month. disney is the parent company of abc 7. we're excited here. now you can binge watch and watch all 3,000 hours. >> just to get caught up before end game comes out. >> you'

. >> tesla again, reports out of nikkei, plans to expand with panasonic are on hold. move in three percentage points every day. >> tesla, when you hear one bad thing, the bulls immediately have another it will be, panasonic's batteries weren't any good anyway you know what? there's a secret area 51 battery facto factory. it's relentless. every time there's something bad from tesla, there's something good but it's no longer led by the tweeter in chief actually we already have a tweeter in chief if you notice it's a kindler, gentler, less informative elon musk a lot of it is atta boy. yeah, i like that car. it's not the fiery we're going to build 600,000 cars and put a man on mars. >> i think, guys, we're getting news out of the fed. for that, we'll turn to steve liesman. steve, are you there >> yeah. carl, thanks very much fed chair president says the fed's process of normalization is at an end he calls it successful he is the first fed guy to declare this process over. although policy has kind of shifted away from it that's the process by which they raised rates to ge

haidi: elon musk has hit out at battery partner panasonic, saying hold ups and are delaying the modelee. he tweeted that the output at the factory is less than he would like. tesla won't boost investment until the existing battery lines are up to speed. expansion plans are on hold. shery: general electric has finalized a deal to pay 1.5 billion dollars to settle an investigation into a defunct subprime mortgage business. the penalty will resolve claims that wmc mortgage misrepresented the quality of residential mortgage-backed security's. ge revealed the agreement in principle earlier this year while not admitting liability. haidi: reports from india say jet airways is close to a deal to keep itself in the air. business standards says banks are considering an injection of $150 million into the airline as long as jet submits a detailed plan on how the money will be used. the news comes after an intervention from private esther narendra modi, who does not want jet to fail during the general election. let's get a check on markets. about to come online for the brand-new trading week. we a

tesla and panasonic.in a twitter battle with the battery supplier, saying they are responsible for the constrained reduction of the model three. ♪ alix: i'm alix steel. welcome to bloomberg "commodities edge," 30 minutes focused on the companies, physical assets, and the trading behind the hottest commodt

in the wake of the battle tesla has had with its lithium battery partner, panasonic, elon musk just announceder for the chips at the heart of tesla's self-driving initiative will be made by samsung. and i am just seeing this as well. tesla and its ceo elon musk are slamming what is called a lidar sensor. that's what waymo uses for its self-driving vehicles. elon is saying that those sensors are quote, fool's errand and any company relying on that is doomed when it comes to self-driving. in typical fashion, elon musk coming out swinging at his investor day event focusing on full self-driving. i'm looking at the stock. it's still down about 3.33% but let us now get back to the rest of that tesla tape we froze for you going into the commercial break. here it is. this is out of china. smoke begins to pour from underneath and then boom, under that model s, tesla spontaneously combusted, engulfing the car in flames. this reportedly happened at a garage in shanghai. the video caught by security cameras sunday night went viral. tesla is saying that it sent a team to shanghai last night to investigate

deliveries and a dynamic where there's concern about suppliers and you've had this public spat with panasonic who they have commitments to essentially to fund battery production. so cash in hand, very important. guy talked about 360 to 400. he's skeptical i don't each know how you can get there especially with fewer delivery numbers and no one's been bothered to care if delivery numbers and there's been a lot of news this week there's been an avalanche of news and i think we wait >> the chairwoman brought up this interesting point, what if fess la recently go -- like apple in terms of the communities and they said continue reporting total revenues, but why focus therz? . >> it's interesting they wanted transparency and now they're moving away on it. i'm not sure that the market will like hearing that and i don't think they want to see that they want to see what's going on with tesla, and to tim's point what you are alluding to is the numbers are coming out of wherever, and the idea of listening to numbers that are so far off, mel, from whatthey ca deliver oftentimes >> when you see a loss tha

he's making great promises, autonomy, insurance, making our own chips, we're going to beat panasonic batteries, i think he's gone way too far. >> i kind of agree with the false promises. he's known to create some promises and not necessarily follow through. i think it is interesting when i was researching this topic, every single media -- business media outlet, marketplace, cnbc, bloomberg, we are all talking about one analyst report. that's a caveat for a our viewers to pay attention to that. often these analysts will push something, have a great headline, very catchy for tv like debacle and we run with it because it makes for good discussion. he obviously -- this analyst -- david: are you criticizing us? >> no, i have to read these reports all the time. i always have to remember, hey, these guys have skin in the game, they are going to push -- they own the stock. they are going to push it on me so be as aggressive and, you know, make sure that you are reading between the fine print. i think with david's first question it might have been overboard, but that was more of a statement a

nonrecourse debt and they've got essentially a company that have almost a $5 billion obligation to panasonic and they have suppliers that haven't been paid. i don't understand how anything about this, i mean, forget tech company and why haven't they raised money to me is the bigger issue and i -- i think it's just a matter of time. >> interestingly enough i heard an interview you had earlier today for some reason now a lot of analysts and investors are contemplating what this looks like with a different ceo. i heard one investor say why don't they get a mark fields he's sitting on the sideline i have to think sooner or later, and i know this hearing went well tonight and that's got to be a distinct possibility and i heard max on the network earlier today talking about what a genius he is and whatever. don't you think at some point he just wants to go do space and let these humans do electric vehicles here on earth i think there is a distinct possibility and he's chairma and not ceo and he's focused on spacex >> sec makes a great scapegoat, too. i really do. >> if he's found not in contempt o

tesla and panasonic putting the expansion of their giga factory in shanghai and in nevada on hold.flag. susan: a big red flag. i really am not that big of a fan of tesla, just in general as a long term hold because i simply look at valuations. you have to pay ten times more than ford and other types of car companies. i think this is a flag. i think car makers in general seem to be slowing down. i think it's a combination of all that. susan: do you see it as a car company or tech company? i think it's valued as a tech company. >> yeah, but eventually i think people are going to recognize that it's a car company. stuart: that chart looks like -- >> technology. stuart: go ahead, scott, sorry. >> i was going to say, they have great technology. the battery technology is something that i think a lot, to susan's point, is a thing a lot of companies covet. the worry i have for tesla, i agree with michelle, it's elon musk. elon musk is one of the craziest wild card ceos we probably have ever seen. if he stops rapping he will probably do something else questionable. therefore that's a reason

the asian review reports tesla and its partner, panasonic, decided it was too risky to spend more moneyuse they are concerned about sales growth. in a statement, tesla says it plans to improve the existing equipment instead of spending money on new machinery. the demand for batteries continues to outpace supply. >>> the 52nd annual northern california cherry blossom festival starts tomorrow. in san francisco japan town. there will be exhibits all week, along post street, between leguna and philmore. a grandpa raid through japantown on april 21. that festival is one of the largest celebrations of japanese culture on the west coast. >>> time is 7:56. surprising allegations coming up for you at 8:00. a new report accusing the president of trying to retaliate against some of his harshest critics that targeted sanctuary cities. plus, beating the odds, the amazing progress report about a little oakland boy who accidentally shot himself in the head. what his family is still waiting for on his road to recovery. >>> if you're getting on the road soon, you will see some commutes are better than o

he is taking on panasonic, which makes the lithium-ion cells that powers the tesla cars.pace, slowing down production. a french company is seeking acquisitions in the u.s. it is considering targets that include metadata focus. the company has a market value offeringillion, services for industries ranging from aerospace to life sciences. jp morgan plans to widen the use of blockchain technology. techank invited financial companies to experiment on developing the platform. last year, 75 of the world's largest banks during the information bank network. tom: thank you. may 1, the fed meeting. let's dive into the important consequent -- conversation. greg boutle of bnp paribas. i wanted to show a chart, the fed funds target rate, adjusted for inflation -- lisa: this is not -- tom: negative yields, and up we go from a slow point and number of years ago. and we have gotten to where the fed has a positive real rate yield. how does that change the analysis of this meeting? greg: the big thing about this meeting is we have this more dovish tone come through, which has helped market