of the other global business stories breaking news. india has released $6700000000.00 in cheap financing for hospitals vaccine makers and other health firms to counter the devastating coronavirus surge gripping the country reserve bank of india governor shakti counted us also vowed to deploy unconventional measures if the crisis worsens india reported a record $3780.00 deaths in 24 hours. exercise equipment brand peloton is reversing course and recalling its treadmills the company known for its interactive by classes says the recall covers more than 130000 units the u.s. is consumer product safety commission says adults and children are susceptible to being pulled under the belt of the machine. general motors has reported higher 1st quarter profits this fight a shortage of computer chips that has slowed global auto manufacturing the u.s. government says it hopes taiwanese chip benefactors will allocate some of their supply to american companies. and staying with the auto industry tesla's new factory near berlin is key to its european expansion but work has slowed there lately where the plan july opening now push to the fall in the fast moving electric car market where big brands are gearing up to challenge tesla eve

bank of china starting to push back on crypto currencies. yet critical comment or warnings from the us federal reserve, the bank of canada and reserve bank of indiavernment so it does look as if the authorities are paying more attention than ever and starting to push back on crypto and if you are a central bank you will do because the reason you are in business is to control the supply of currency and so it is a potential threat. is supply of currency and so it is a potential threat.— a potentialthreat. is this volatility _ a potentialthreat. is this volatility that _ a potentialthreat. is this volatility that we - a potentialthreat. is this volatility that we are - a potential threat. is this i volatility that we are seeing in the price of crypto currency is any different from the volatility we see from time to it is particularly dramatic. bitcoin has come down quite sharply. a lot of crypto currencies last 30 or 40% of their value in a week. that is pretty extreme by most financial assets. you can see spectacular crashes in equities. 1929 and 1987, but they are really pretty rare whereas this is the second or third big one hit on crypto in the

of the other global business stories making headlines. india has released $6700000000.00 in cheap financing for hospitals vaccine makers and other health firms to counter the devastating surge gripping the country reserve bank of india governor shakti confidant also vowed to deploy unconventional measures if the crisis worsens india reported a record 3780 deaths in 24 hours as well as 382000 new cases. u.s. trade deficit hit a record high for the 2nd month in a row the deficit rising 5.6 percent to $74000000000.00 march analysts point to increased imports from china and growth in demand for foreign made consumer items. biden ministration is working to send 20000000 dollars worth of copan 1000 medical supplies to brazil the package would include drugs to aid into baiting patients brazil recently topped 400000 kroner ourselves. pfizer is raising its covert vaccine sales forecast by 70 percent to $26000000000.00 company partnered with germany's buy and tack and pfizer says revenue for the vaccine is expected to account for more than one 3rd of its 4 year sales and 2021. energy doubled its profit for the 2nd in the 2nd quarter rather to almost 200000000 euros thanks to its wind turbine subsidiary camisa as your

let's bring in former reserve bank of india governor raghuram rajan.omist at the international monetary fund. he has been a finance professor at the university of chicago booth school. great to have you back on the show, particularly in light of the fact it has been barely a week since you have returned from your recent trip to india. having been there in the midst of that talking to people, give us a more first-hand view of just how bad it is. what is it like? raghuram: i was in the south which has been spared much of the recent wave. certainly, i went through delhi, talk to people there. and both delhi and mumbai, the big cities in india, are deeply affected. the caseload is very high. the space in hospitals is very scarce. and you have these horrendous sites -- sights of people queuing up waiting for hospital beds. people dying because of lack of oxygen. this wave has hit much harder than the first wave. in the first wave, we have something like, at its peak, 90,000 to 100,000 cases. this wave has been much more serious, more localized, and devastat

yvonne: we are watching nikkei futures as well, we just saw a pop that the reserve bank of india governor making an unscheduled speech later on today, 10:00 a.m. local time. we are reporting on twitter moments ago, without providing any details but there is questions about what else they can do as the coronavirus crisis is ferocious in the country right now. it continues to try and flatten the curve, but a lot of questions about how many options they have at the moment as well, with inflation limiting the amount of space they have when it comes to providing more stimulus. a lot of questions we will see out of india in a couple hours time. meanwhile, we are talking about working from home, the office. goldman sachs is the latest big bank to tell workers it is time to come back to the office. they directed employees in the u.s. and the uk2 prepared to be back at their desks by mid-june. let's bring in su keenan. it seems like at this point goldman has laid out a type of roadmap. su: the goldman ceo making it crystal clear. in the u.s. workers are to be ready to go back to work by mid-june.

of the other global business stories making news. india has released $6700000000.00 in cheap financing for hospitals fact scene makers and other health firms to counter the devastating coronavirus surge gripping the country reserve bank of india governor shakti counted us also vowed to deploy unconventional measures if the crisis worsens india reported a record $3780.00 deaths in 24 hours. exercise equipment brand peloton is reborn reversing course and recalling its treadmills the company known for its interactive by classes says the recall covers more than 130000 units the u.s. is consumer product safety commission says adults and children are susceptible to being pulled under the belt of the machine. general motors has reported a higher 1st quarter profits despite a shortage of computer chips that has slowed global auto manufacturing the u.s. government says it hopes taiwanese chip benefactors will allocate some of their supply to american companies. and staying with the auto industry tesla's new factory near berlin is key to its european expansion but work has slowed there lately where the plan july opening now push to the fall in the fast moving electric car market where big brands are gearing up to challenge tes

interesting comments from the university of chicago booth school of business professor and former reserve bank of indianor, with some scathing words for his home country as well which we can touch on little bit later. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. equity futures are down three to 4182, off by almost 0.1%. yields higher to 1.6137%. euro-dollar had a little break of one dollar 20 since earlier, north of that level again. crude has a $65 handle, up by 1.67%. told you a lot about the number here -- the numbers here in america. the vaccination, the improvement . vaccinations have been rolling over recently. there's been some concern. but here in new york city, we will reopen. we are dropping restrictions, capacity restraints. a headline just crossed from singapore about 10 minutes ago, with a covid crackdown with groups limited to five people. two different worlds still. tom: you compare it to tokyo with the olympic pressures, it is just extraordinary the different worlds out there right now. in washington there's only one world,

. >> what is the role if any for the reserve tank of india in this process? -- the reserve bank> it is being as accommodating as possible given that inflation was not coming down and was starting to look up. the reserve bank has been as accommodating as possible. it has helped finance the debt. it has also built up a fairly large foreign-exchange reputation. there are some doubts about the economy going forward. this will at least be a measure of comfort for foreign investors. >> let's get to climate and give you the latest lines coming through on that front. eu benchmar carbon raisingk -- eu benchmark carbon rising this morning. coming up on the european market open, we will take your summer else. bill and melinda gates are going their separate ways. they announced their separation on twitter. we will get the details next. this is bloomberg. ♪ ♪ >> welcome back to the european market open. 41 minutes into our opening session. the dac is down half a percent. the travel stocks are boosting the ftse 100. away from the markets after 27 years of marriage bill and melinda gates are g

the spotlight will definitely be on the reserve bank of india, who will meet this week to decide on intereste they are expected to keep interest rates low for longer, they could step up the easing programs they put in this quarter, to be extended into the next few quarters to help support the economy and bridge some of the widening negative out growth we are seeing in india. haslinda: our economy and policy reporter. let's stay with the pandemic. singapore will outline its covid-19 plan today as it looks to aggressively open its economy again. the city imposed a month-long lockdown to contain an uptick in cases. rachel chang leaves our coverage and joins on the line. when do we expect to hear from the prime minister today? rachel: the prime minister is coming out and we know singapore is basically in a lockdown situation, no dining, public gatherings kept to two people. there has been a little unhappiness, and at the same time cases in singapore are not that high, single-digit and double digits. how do they open up? the rest of the world is opening up and they are going into lockdown over si

of finance. india's central bank is offering $6.7 billion in cheap financing to vaccine and health firms. this is india's reservef vaccine and medical devices. hospitals and dispensaries, labs, manufacturers and suppliers of oxygen and ventilators. importers of vaccine and covid related drugs, logistics firms and also patients for treatments. right now — there's no national lockdown and that's becoming a big issue. the prime minister, narendra modi has said a lockdown should be a last resort because of the economic impact — in particular on india's lower incomes families. here's a spokesperson for the ruling bjp party. the prime minister has not said no to a lockdown. he has, if at all, left it to the individual states. the state which i come from, maharashtra, has imposed a lockdown and the government of the centre has supported it. each state is given the choice to decide whether they want to impose a curfew which is a limited few hours of an entire lockdown. we are here to ensure that indians and their lives are saved and that is a priority. as we speak, there are three things which are necessary. one is, of

of work, analyst expect india, the economy to continue to face pressure. this struggle is with the localized restrictions and a lot less the vaccine rollout. the u. s. federal reserve has criticized deutsche bank k g for failing to address the system shortcomings and its anti money laundering controllers according to people familiar with the matter. they say the bank could even be fined lender hasn't, from the allocation, the german line, lufthansa plans to reactivate up to 50 aircraft in the coming weeks in view of rising demand, according to a board member. booking numbers, july and august are up to 11 times higher than 4 weeks ago. during the current vice pandemic, the group must bold hundreds planes. germany inflection inflation rate has risen to 2.5 percent. the highest level in some say 2018 comes after german authorities ease some restrictions on restaurants. shops and cultural then uses terrain of ours. incidence rates all across the country, pigeon and bundles banks as inflation could rise, ties 4 percent this year of more and what's behind that? his i n g g for economists custom breski. yeah, i think we still, we see read the false way of a couple of inflation drivers right now. it s