alix: volkswagen, toyota, they said they are coming for tesla.ve laid out plans to spend $170 billion to stay on top. the short seller, tesla is worth more than volkswagen market cap. despite the fact that volkswagen sells three times more cars than tesla. can they catch up and will they get the credit in the market? what did you make of that dislocation that was shortselling -- can volkswagen get the kind of valuation that tesla does because it sells more cars? >> you said three times for volkswagen, it's about 10 times their sales relative tesla last year. with toyota, it will be about 11. we have not gotten final results yet. in any case, it's definitely something that has been playing out for quite some time. it is been months since tesla broke the $1 trillion mark. the market has done away with fundamentals driven by internal conduct -- combustion engines. they want to know how quickly you can respond to tesla. we have seen a big run up in valuations of general motors and ford. with volkswagen and toyota, you have a case where these are the

volkswagen says it will spend at $100 billion. we don't have tesla, which is already spending more than most of that combined on the screen. it gives you an idea of the commitment to see this through in a way we didn't see in the 1990's. taylor: let's talk about the ev transformation by legacy automakers. let's do all of this with ed ludlow, here with the story. is the key take away that tesla is no longer the only game in town? >> it is about who can catch up and play the game with tesla. we have been focused in the last 24 months or so on ford and general motors, because of the splashy announcement and the big spend they plan. but in the global auto industry, there are two names we have to talk about, volkswagen and toyota. they sell 10 million vehicles annually apiece, more than tesla. romaine: how many of those are electric? >> the whole point is, very few of them. in the first 10 men's of 2021, volkswagen sold shy of 300,000 electric vehicles. they have a long way to catch up. what they do have is scale, footprint, global man

this is a difficult mass or challenge for volkswagen. i suspect they're in crisis mode when it's me on an auto sewing mit their money bulletin for the software that 5 of dinged arsenalt of exxon doesn't apply to hinder calling the shoring flows of the room. but 2nd, this is jordan. i was off from trish c o martin ventercore accepted responsibility for the scandal. you should shortly give me an honor form. only quinton, for the broken leg is something destroyed for the field of hope and apology. unable to save the job of germany's best paid executive mopping, winter concrete, i was forced on the trip, on corks, sport, and so before events said, even been properly investigated. the v. w supervisory board, absolved vin to corn of any, came the wound up austell to fist hogan does have in the con, kind of kent, this hector, from the more money, pulitzer, and full of gas vehicles. at the same time, v. w was similarly swift to blame others, claiming that a small group of engineers was responsible assess whether you filed them for an infrequent

this is a difficult mass or challenge for volkswagen. i suspect they're in crisis mode. won't estimate you on an auto sewing mit their money, bullying for the software. they've 5 of dinged harassment of exxon doesn't apply to hendrick when the shorter flows of the room. that's a comment. this is jordan. i was hoping to sh c o martin ventercore and accepted responsibility for the scandal, isn't shooting me in olive form, only couldn't the broken leg something from the stroke for the field, hope an apology. unable to save the job of germany's best paid executive marketing winter concrete, i was forced on chef on fox pardon, took before events said even been properly investigated. the v. w. supervisory board absolved ventercore in of any blame no longer bows. vocal fist hogan does have in the comp, county kent, this hector, from the more money pulitzer infant across vehicle. at the same time v. w was similarly swift to blame others, claiming that a small group of engineers was responsible assess whether you filed them for an infrequent taki

tesla is not on the list, but volkswagen is.e think volkswagen comes ahead and has the opportunity to ipo ports. -- porsche. ne-yo is on the new age side of things. a chinese luxury manufacturer, this is the year we think they can hit profitability. there are supply chain companies that flow in. nine deck which makes electric motors. sk innovation. a korean company. ev plays through a good bit. caroline: reading through the list, amazing array of companies. the pricing -- depressing to see how few are led by women. tim: no doubt. there are several, it is the largest group by number in terms of these company specific actions. one is emerson. if you look at what transpired with ge in 2021, in 2022 we see a new ceo with emerson putting his stamp on things. this could be another one. vivendi is another one. makes a big european powerhouse of multimedia. there are financial something -- companies with new ceos, with barclays, they have had a checkered 2021. new ceo comes in and we think can drive the company forward through what has

. >> what is volkswagen's strategy and what is toyota's strategy?swagen channeled the inner tesla. elon musk is going full sand on electric asian. a $100 billion commitment over five years. they want to electrify the whole fleet and do it quickly. why everyone is excited is this huge manufacturing footprint. we do have that legacy and the history of manufacturing. >> how much does elon musk care about all this? how much is he paying attention? he has this line that you and i have discussed time and time again. products are easy. reduction is really hard. they sold just a little more than 300,000 ev's. they had such a long way to go to catch on the manufactured ev's. you heard it in that package. the best value for money, inference the cost of battery packs down and pass that onto the consumer. tesla is bullish. you can try to build and adventures, not let it slip to some of the legacy players or a volkswagen or toyota. they are still focused on hybrids and even hydrogen without going fully into a letter vehicles. >> when you look at the market ahead

emily: what is volkswagen strategy -- volkswagen's strategy? what is tesla's strategy?going full spent on electrification, both on software development and on ev's and they went to electorally -- electrify the whole fleet. they may not have the technology but what they do have is a legacy and history of manufacturing and delivering vehicles at scale. emily: how much is elon musk care about this? >> he has this line, prototypes are easy, production is hard. a company sold just a little more than 300,000 ev's. they have such a long way to go to manufacture to scale and they feel tesla as a technological lead. the best value for money, bring the cost of battery price down. tesla are bullish and so are there it investors. they tried to build advantage, not let it slip to legacy players. emily: which carmaker is the closest to challenging tesla in terms of market share, quality? >> it investors have given such a lot of credibility to ford and gm because of the pace of what they have done but they do not respectfully have the scale of volkswagen. they are waiting for volkswag

with volkswagen, they had no other choice.iesel scandal of 2015, they had to shift gears. diesel was the big bet they were making and it was exposed as a fraud. with toyota, they are big on hybrids. that has been extremely successful. they are making hybrids at a greater scale than anyone is making, including tesla. they did not need to go into electric vehicles for complaints. -- for compliance. for vw, it is not a matter of compliance, the fact that the matter is wholeheartedly embracing electric vehicle companies, whether tesla, arabian, for they made a vehicle. it is the case that it will be excused if you are not making electric vehicles as profitable as combustion cars come up with the market want to see is you pushing into electric vehicles improving you can give elon musk a run for his money. francine: over the christmas holidays, we saw one tesla -- because they look so different, everyone wants a piece. >> with the technology, it has taken a bit of time to bring that update capability. full swag and has stumbled with

this is a difficult mass or challenge for volkswagen. i suspect they're in crisis mode when it's me on an auto sewing mit their money bulletin for the software that 5 of dinged arsenalt of exxon doesn't apply to hinder calling the shoring flows of the room. but 2nd, this is jordan. i was off from trish c o martin ventercore accepted responsibility for the scandal. you should shortly give me an honor form. only quinton, for the broken leg is something destroyed for the field of hope and apology. unable to save the job of germany's best paid executive mopping, winter concrete,

of course with toyota and volkswagen being the two largest automakers in the world.ok at volkswagen and toyota separately, they have a bit of a different story going into that moment. for volkswagen, it has announced pretty unmatched budgets when it comes to electrification. on the other hand, toyota has been a lot more cautious towards electric vehicles. since the announcement, toyota executives were questioning whether some parts of the world are ready for evs,, and toyota has presence in the market for hybrid cars. that that announcement from toyota in december almost doubled its sales target for electric vehicles in 2030 from just half a year earlier. so that signifies that automakers are embracing evs. shery: still, we know that they are a bit late to the game, especially compared to tesla. so how will they be able to compete? river: so they do certainly have a bit of a time loss compared to tesla. also we have to keep in mind tesla is advanced both in its electric vehicles and its software. so volkswagen was a bit faster than toyota in rolling out the mass-mark

for years, volkswagen deceived both customers and authorities by manipulating emissions data. who knew what about the diesel scandal and when v w. m. diesel gate, winter corn, and the engineers in 45 minutes on d. w. ah, what secrets lie behind these walls? discover new adventures in 360 degrees and explore fascinating world heritage sites with d. w world heritage 360. get out. now murphy mancha is that all this fear that we don't know what this new technology will bring up? what we've grown up with technology, with an algorithmic methods and the toward mod milestone how shocking, how transparent with artificial intelligence is pretty much everywhere and it can be helpful. but how creative can machine learning b, where are the limits and what are the dangers? an exhibition and they should gain a museum and dressed and gives us answers about a i and explains how it all began. plus a pioneer of algorithm, art shows us how creative machines can be. and a, i even makes music using algorithms and rivers to compose amazing sounds. but 1st, how transparent are we for a i? what do the

the next-closest lawmaker -- automaker is volkswagen, with half.k at general motors, 27,000, 25,000 vehicles for ford. tesla is the king of the hill for now. but you have to understand, tesla has opened two new factories. elon is temping the market down, saying there may be supply chain issues. the company said they will produce roughly 1.5 million vehicles next year -- this year, i think it is going to be closer to 1.8 million. but no one is doing better in the ev market. emily: are you concerned by the chip shortage and supply constraints? steve: everybody is. i served on the board of tesla. no one is more fanatical about bringing production in-house than elon musk. yes, on battery production. i think they are going to benefit. if you are general motors, i give them credit for investing $7 billion, but they should have done that five years ago. they are just going to work on planting tennessee and michigan, those won't be open for years, and they announced they will be building a battery facility. test at -- tesla has five facilities in china, eu

surveys show inflation is starting to displace the corona virus as a key key concern for the public. volkswagen says it's had to shut down to factories in china due to cov 19. now, brakes is comes after the german comic is a global deliveries, fell 8 percent due to production constraints caused by the ongoing semiconductor shortage during 2021. now at the beginning of december, brazil, as president job also narrow said he would make sure that fuel prices went down. just the opposite has ended up happening. and now unrest in the south american country is growing. filling up the gas tank is getting more and more expensive. the state owned energy company, petro boss, has raised gasoline prices by 5 percent and diesel by 8 percent. that's fueling the already high inflation in the country. another i've actually gasoline has gone up. everything's going up. when will it end market? if petrol increases, everything else increases to what can we do? nothing because business is tough every day it's getting worse. political feel. this is due to the rising oil prices on world markets, but there are also reg

we are going to see volkswagen and toyota.ve a lot of cash with their conventional car business going full bore into electric vehicles in the coming years. dani: another function for everybody, you can read crag's work and get the details of bloomberg's auto coverage. bitcoin's $100,000 could be possible. more on that next. this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe." six digits. goldman sachs says bitcoin will continue to take market share from gold. $100,000, that is what it says is a possibility for the cryptocurrency. john dawson are -- joanne also injured joins us for more. how does bitcoin arrive at this target? >> they looked at the demand for store of value generally and said ok, if gold is going to be this much, bitcoin has some portion now and it is going to increase. people keep saying it will keep changing from gold as a store of value to bitcoin. they think that is going to boost bitcoin to six figures. manus: that means i've still got time to get my inflation hedge on. i am dreadful at

i'm supply issues as the reason generous volkswagens most important markets around 40 percent of its copper duction is sold, that i runs exports and imports in 2021 claims to record high. we did buy a global search and demand for semiconductor chips. and electronic components exports were of almost 30 percent at $446000000000.00, while imports climbed by a 3rd, according to the islands, ministry of finance. and india has allowed imports of us pork for the 1st time adding to the $1600000000.00 worth of american farm products. if it flying every year you asked her coach or secretary tom vilsack says the steps signals positive movement in u. s. india trade relations doesn't feel good when they buy from pork to beach. they're among the worst climate killers. cows. that's because they emit large amounts of greenhouse gas, methane, but people still want them meat and their milk. so far there's been no way out of that particular dilemma, but swift scientists believe they're on the right track. the substance could be the solution to the methane problem with cows. billions of tiny micro algae

for years volkswagen deceived both customers and authorities by manipulating emissions data. who knew what about the diesel scandal and when v w. m. diesel gate, winter corn, and the engineers. in the 45 minutes on d w. i. what secrets lie behind these walls discover new adventures in 360 degrees and explore fascinating world heritage sites with d. w world heritage 360. get the up. now murphy, monica. this is the old, this fear that we don't know what this.

a different story for volkswagen vw delivers dropped 8.1% last year to just under 4.9 million back over to you >> julianna tatelbaum, you can see a mixed trade there. thank you very much. >>> back home here, the white house unveiling a new covid testing push this morning. it is all part of another effort to keep schools open for teachers and students. this as over 3,000 public schools, mostly here in the northeast and in hicago, have gone virtual or shut down. that's according to the latest data all of this comes after the white house spent 12 billion taxpayer dollars last march to ramp up testing and reopen schools. many no doubt wondering where the money went >> breaking right now, the biden administration is taking new actions to increase access to covid-19 testing with the aim of increasing the number of tests available to schools by 10 million per month. this as part of the effort the white house plans to deliver 5 million free rapid tests to k through 12 schools goldman sachs is cutting its 2022 forecast for chinese economic growth to 4.3%, down from an earlier 4.8% estimate. gold

i mention volkswagen down. construction is down. financial services is down.ectors are all down over 4%. you can see the list goes on and on. the only performing sector is the grocery sector. the staples. up .6%. that is unilever. vodafone up 4.5%, still in negative territory. let's talk about individual names. asml down 6.2%. that is having a major impact. vodafone israel heavyweight, helping out -- vodafone is a real heavyweight. the reason for that is talk of consolidation in europe. talk about maybe consolidating the italian assets. maybe u.k. consolidation as well. that is driving that stock to the upside. unilever is also having a major impact today. up 7.31%. on such a big down date that is a huge move. the stock has been incredibly turbulent as a result of the now apparently failed bid for the gsk consumer health unit but also some of the concerns about what is happening with the company and we have concerns of a stake in the business. he has history with this kind of business. what impact could he have? at the moment a stock up three point -- up 7.31%

now let's take a look at some of the other global business stories, making the news. volkswagen and basha planning an alliance to boost european battery production. the joint venture aims to short supply chains for battery manufacturers and secure batteries for europe's carmakers. the electric car industry is hoping to be less reliant on china. the asian owner of 2 german shipyards, his farm for liquidation. it comes about a week after getting hong kong ship outing. subsidiaries in germany went bankrupt. shipyards had been hit hard by the impact of the pandemic on the global cruising stream. at 18 t and verizon had agreed to delay wednesday's controversial roll out of new 5 g technology around us efforts. there was a roll from carriers who complained the network could interfere with flight instruments. me while international airlines had cut some flights to the u. s. or switched plane types and southeast asia, products like coffee, soap or laundry liquid are often sold in little sashes. each one is a little more affordable than a big bottle or tin. however, these small packages create a b

for years, volkswagen deceived both customers and authorities by manipulating emissions data. who knew what about the diesel scandal and when the w and diesel gate winter corn and the engineers in 45 minutes on d. w. oh, i subscribe to d w books. you meet your favorite writer sometimes do the story calls me and you have to respond to it over you. books on you to the, the battle against cove. it the only common variant is putting healthcare systems around the world to the test. vaccination campaigns are accelerating, while restrictions are intensifying once again. but are these measures enough to stop the spread of omicron, fax data and reports in our weekly coven special? every thursday on d w ah ah, a gold mining.

volkswagen had to close production, toyota. airbus have to stop production.xpect that to see that get worse and worse, and what can xi do about it? andrew: we are starting to see rolling quarantines, rolling travel restrictions right across factories, china. as you say, major car companies operating out of china. right now, holding the line is absolutely critical for xi on so many different levels. the first is, their vaccines are far less effective against omicron than mrna vaccines. they still use the traditional method. also, they have almost no natural immunity. their success, paying for the early success in containing covid, right now. matt: thanks for joining us, andrew browne. the bloomberg new economy forum editorial director. happy friday to you in toronto, jon erlichman. i'm matt miller. this is bloomberg. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪

after announcing a partnership to develop a lithium-based battery solution quantumscape counts volkswagen two other automakers as partners in its push to create longer lasting battery technology now with this push into lithium battery storage, is is this a play on more than just the electric vehicle space joining us, jagdeep singh, ceo of quantumscape. congratulations on this partnership with influence it sounds exciting it is going to drive the companies towards solid state lithium batteries, which is an advancement. how quickly do you expect to be able to bring these to market? i have heard that the time line was '24-'25. does this advance that >> that's a great question yeah, it is very exciting. the reason for this development really is that as big as the automotive sector is, which is by our estimation offer on the order of half a billion dollars a year, the stationery storage market is on that same order of magnitude, hundreds of billions of dollars is what the analysts are forecasting by the end of the decade it really doubles the opportunity for us in terms of the total addressabl

of money for a car. >> i've got a volkswagen, but not a bentley. >> a lot of people are buying them, on strong demand for those high-end vehicles. >>> couch potatoes, listen up. there's a new sofa idea that might make you feel like butter. >> one rapper from estonia unveiling a couch he calls the lofa, which is pretty clever. it looks like a series of dinner rolls. the rapper says if you've got more than 10,000 comments on the post, ikea said they would release it. he's reached that goal and then some. no word from the store and also no word on whether it's gluten-free. >> that looks like a pancake carpet. >> or a tortilla. i'm hungry now. >> take a bite out of your couch. >> a little ham on there. >> definitely an interesting aesthetic, that's for sure. if it's comfortable, it's comfortable. >> there you go. >> i bet that once those go out of style and end up in thrift stores, they'll be a better find. san jose, look at that. it is so foggy and we are seeing limited visibility, not just in the south bay, also around the palo alto area as well, san francisco up through novato, santa

bentley, which is owned by volkswagen, already sells a hybrid suv, $460,000. bentley says sales rose 31% last year on strong demand for high-end vehicles. and it's 5:00 somewhere, right? it's okay to talk about cocktails at this hour. coca-cola and coors are teaming up for a line of spiked lemonade. simply spiked lemon said will come in a variety pack this summer with other flavors, including strawberry and watermelon. each will be made with fruit juice and contain about 5% alcohol by volume. coke and coors have teamed up before on hard seltzer, and apparently they are working on a margarita version of that for later this year. the adult alternative beverage market has reached nearly $8 billion a year. i'm a fan. i love those hard settlers on a warm, summer day. it's pretty refreshing. >> bertha coombs and a white claw. >> next thing you know, bertha coombs will be sitting in the back of her electric bentley, being driven around with spiked lemonade. >> man, i'm going to roll in style. >> you always do. always do. >> yes, she does. >> thanks, bertha. >>> 4:43

for years, volkswagen deceived both customers and authorities by manipulating emissions data. who knew what about the diesel scandal and when the w and diesel gate winter corn and the engineers in the 75 minutes on d. w o. d w's crime fighters are back. africans, most successful radio drama series continues this season. the stories focus on hate speech, color of prevention and sustainable charcoal production. all episodes are available online. and of course you can share and discuss on d, w, africa's facebook page, and other social media platforms, crime fighters, tune in now. okay, welcome to the dark side where intelligence agencies are pulling the strings. there was a before 911 and an aftermath 11. he says, after $911.00, the clubs came off. where organized crime rules were conglomerates make their own laws? ah, what is true was big. it doesn't matter. the only criteria is what will people we shit light on the opaque world. who's behind benefits and why are they a threat to whistle peak world starts january 5th on d. w with this is d. w. news live from berlin. first wild f

were clear. giants like volkswagen already had a foot in the door. now was the time to push it open and michael did exactly that. meetings with chinese leaders became platforms for deal making. catherine cuba, ashbrook leads, one of germany's most influential thing tanks. she would travel to china with large business delegation. the implicit goal was always to come home with the deal. she always felt like it was her obligation in terms of her own understanding of national interest. crucially, from berlin's perspective, all this was building up something precious trust. i think this did affect merit america. how merkel viewed china, china was there for germany, and china was there for europe during the euro crisis. and she, i don't think she's ever forgotten that politically and economically it was all systems go. and then hamburg, trade was booming in both directions. it soon became part of china's massive belt and wrote infrastructure plan for china. all these trading investment also had profound strategic meaning for the development of its own econ

and this year a volkswagen in china bought credits and a maker of electric cars. and then their oral companies like b p that are key to dump acids to reduce their carbon footprint. it's sold at alaska oil fields to a little known privately held company called hill corps for $4600000000.00. the problem is the world doesn't see a drop in emissions. they still exist, but a publicly traded company with shareholders and activists has now offloaded verifiable emissions to a company that has little incentive to declare them. so this is what we're going to do will pick up on carbon trading right after this report from kristen salumi in new york. that's where our authorities are promising to have 70 percent of their electricity come from renewable sources by 2030. it's one of the most ambitious clean energy plans in the country. in the heart of new york said the legendary big alice, once the world's largest electric generating unit, its owner rise, light and power. now wants to make it the cleanest with plans to build the largest battery facility in the country right here

d w is on trial for what could be the biggest fraud in the history of german industry for years volkswagen to seed both customers and authorities by manipulating emissions data. who knew what about the diesel scandal and when the w and diesel gate winter corn and the engineers in 75 minutes on d. w. i work interest in the global economy, our portfolio d w. business beyond. here's a closer look at the project. our mission to analyze the fight for market dominance. east versus west. get us deb ahead with the w business beyond on you to vicious nadine and comedy bit on what it is you know. i mean nina minorities in glen? yes. my think i up on cassandra parmesan that goes homeowner dance. you cynical? mia homei seen us all over town, but i didn't i didn't get money that i'm when it. ready this, you know, i mean, nino monotonous incline you wedincamp wonky, sonoma when the notice what am put concerning the pseudo. but what im looking as he ran up with this, you know, i mean nino, my noticing glenn, you know jenny can what do you guys put on one me nobody has unanimous. he shook it. oh okay. so

the team had previously claim for actually $21516.00 cine volkswagen currently down in 14th in the bonus league table . is reminder of our top stories at base. our police in southwestern, germany searching for suspects after 2 police officers were killed near the city of kaiser. are the 2 officers aged 24 and 29? had stopped the vehicle when shots were fired, the suspects flap the scene up next on d. w tomorrow. today the look at the rights to save the world's vulnerable coral, briefly effects of climate change. i'll be back at the top of the hour with more world news. i'm good with with who ah, we already knew that the ocean is a massive c o 2 reservoir. but we did not know that something to do with it. ah, could we slow down climate change by catching fewer fis? why didn't we think of this before? to morrow to day next on d, w ah, with in many countries, education is still a privilege. tardy is one of the main causes. some young children walk in mind troughs. instead of going to class, others can attend classes only after they finish working with millions of children, all over the worl

that the standard way we were back then . motherly k went to this car. scrapyard. dug up an old volkswagen, car shell. and over many months made it move again. now it's his pride and joy, a mobile burger truck, and his burgers are popular too. it's a lot chicken to your chicken, he cuts. and while you watching it takes for chips while you. what did not the gym ladder boy last week and get and the sauce as he makes his own sauces had thrust his cooking. so his bed is amazing. the wings are amazing. i say try it. and you definitely love it. economists say the pandemic has contributed significantly to south africa's high unemployment rate. now at a record 34 percent or in a double bind off of mass unemployment. and yet the, the sector that is working is not working well enough to grow. a curve is exacerbated that, but as we move out of the pandemic period into the endemic end game, it's, it's looking like a lot of those jobs that we lost are not coming back. but mother, like, he says, giving up is not an option. my vision is having a chain of food trucks, you know, instead of the whole restau

the lawyers are here for deposition on in february, volkswagen and basha. plenty on the lines to boost european battery production. a joint venture aims to shore up supply chains for battery manufacturers and secure batteries for car makers. electric car industries hoping to be less reliant on china. than the africa cup of nations and underdogs, camaros pulled off a surprise, a victory over favorites garner and knocking them out to the competition. in the process of celebrations in the capital city, maroney as their sag claim, a 3 to win, the tiny island nation has never qualified for africans before. and of now i now have a chance of progressing through the group stages. if other results go their way, fans are hopeful that their team will continue each journey at the tournament in cameroon. lemme i have tears of joy. it's a historic wind for us. these 3 points are enough and if we can qualify for the last 16, that would be amazing that plenty of, oh no. i got to point we thank god for the incredible performance our players have achieved today. i never did that. i thought that they had

for years volkswagen to see both customers and authorities by manipulating emissions data. who knew what about the diesel scandal and when the w and diesel gate winter corn and the engineers in 15 minutes on d. w. o knows all it's creators for everything and we digitize everything through the hot commodity in this global experiment. our data smart devices are embedded in our daily lives, trutina, where every movie the internet of everything starts january 17 on d, w. welcome to the dark side where intelligence agencies are pulling the strings. there was a before 911 and after 911, he says after 911, the clubs came off where organized crime rules, genuine use a global network of companies, banks, and operators. we will provide those services to anyone operation, the criminal economy. where conglomerates make their own laws. they invade our private lives through surveillance, hidden, opaque, secretive working through what's vague. it doesn't matter. the only criteria is worked. we'll hook people up. we shed light on the opaque worlds who's behind, who benefits and why are the

volkswagen has been caught up in port restrictions in china. they had to stop production since monday, so that has factored a lot of their models. currys lower by almost 5%. the christmas sales were coming in below the estimates. let us get the bloomberg business flash with leigh-ann gerrans. leigh-ann: the french government has told the utilities control to have discounted prices to protect households from inflated prices. in a separate development, edf says that several of its power price caps in france will be down. more global carmakers are being affected by the latest china outbreak in tianjin, along was a deal box control designed by the german automaker. they have now been closed for five days. alphabet's youtube is among the company that you -- that have been subpoenaed to hand over videos to the u.s. committee investigating the capital riots from last year. the commodities at goldman sachs have made a comeback with revenue expected with $2.2 billion since 2021, compared with less than a 10th of a payday since 2017. that is your bloombe

and this year a volkswagen in china bought credits and a maker of electric cars. and then their oral companies like b p that are key to dump acids to reduce their carbon footprint. it's sold at alaska. oil feels to a little known privately held company called hill corps for $4600000000.00. the problem is the world doesn't see a drop in emissions. they still exist, but a publicly traded company with shareholders and activists has now offloaded verifiable emissions to a company that has little incentive to declare them. so this is what we're going to do will pick up on carbon trading right after this report from kristen salumi in new york. that's where our authorities are promising to have 70 percent of their electricity come from renewable sources by 2030. it's one of the most ambitious clean energy plans in the country. in the heart of new york said the legendary big alice, once the world's largest electric generating unit, its owner rise, light and power. now wants to make it the cleanest with plans to build the largest battery facility in the country right here

traditional automakers, bloomberg has a story about volkswagen and toyota looking big. you had sony saying they will introduce an electric car. this type of market response definitely invites more competition. >> ford had a massive year last year. can they do that again? michael going over some of the big issues right now. the passive versus active debate continues. the top five overweight stocks globally, two of the most underweight names, apple and tesla still for active managers. futures this morning down about two on the s&p alongside tom keene. this is bloomberg. ♪ >> with the first word news. the chicago public school system has canceled classes after the teachers union voted to shift promote learning on tuesday about 73% of those in favor of the move. sink in and when the surge signs and a -- and approved by the union. hong kong is imposing new virus control measures for the first time in nearly a year as omicron seeks into the community. lard -- they scrapped large scales event -- large-scale events. singapore says booster shots will be required vaccination stat