this is bloomberg. ♪ vonnie: i'm vonnie quinn with the first word headlines.dent biden's approval has said that she slid to a career low in latest opinion poll. results show biden lagging donald trump in early voter preferences for the 2000 when he for election. his approval rating fell six point lower than february. some fichte's -- 56% disapprove of his performance and 68% regard biden is too old for another term. chileans are voting to elect 15 members of a new constitutional council as the nation tries to rewrite a charter dating from the dictatorship of augustine pinochet. the initial push ended in failure last september when voters overwhelmingly rejected a draft many saws to radical. the taliban has agreed with china and pakistan to bring belt and road and the structure projects to afghanistan. they discussed afghanistan's real instruction -- reconstruction, including expanding the core door to the sanctions hit country. they called were unfreezing afghanistan's $9 billion of overseas assets. arab league states move to reinstate syria, effectively endin

haidi: let's get to vonnie quinn's with the first word headlines. vonnie: key u.s.mer senior managers that silicone bank for the lender collapse. seb salek ceo drew criticism for selling $3.6 million worth of company stock, less than two weeks before they disposed extensive losses. some losses also questioned u.s. watchdogs to prevent the turmoil. >> what if you ignore admissions from regulators. the simple answer in the same answer we find to most questions about big bank failures because see executives are getting rich. vonnie: the international agency expects global oil to climb things to the post-pandemic rebound. the iea says world fuel consumption will rise by 2.2 million barrels a day to a record 102 million barrels a year with chinese demand hitting an all-time high. the agency also sees oil markets to tighten supply sharply in the second half. india's crucial monsoon season may arrive later than usual this year. this delays from scorching heaps and potentially affects the planting of some major crops. india's meteorological department expects a monsoon to r

i am vonnie quinn and this is bloomberg.vonnie, former executives of collapsed banks were grilled the senate this morning in a rare bipartisan rebuke of management, already facing intense scrutiny. >> i am very concerned about where we are within the regional banking sector and we need to bring the -- spot stability to that sector. >> one of the problems with a lot of the failures is, concern becomes contagious and contagious in some really detrimental ways. >> i actually think we are past this immediate storm. if you look at your community banks and regional banks, they are in good shape. shery: joining us now is bloomberg's su keenan who has been following the story. should we start with the ex ceo of svb, who got a $10 million compensation and is not committing to give any of it back. kathleen: you don't want to be on the hot seat with senator elizabeth warren drilling down on are you giving any of that money back and saying "i take that as a no." it is a tough place for a former executive of a failed bank to be and that

vonnie: vonnie: the trade ministers of australia and china have their first in person toxins 2019 --alks since 2010. the australian trade minister described the talks as warm and candid. china is pushing for better access for investment in australia. india's prime minister narendra modi's party considered a loss in a southern swing state, a rare victory for the congress party as it looks to build momentum ahead of national elections next year. the congress party had its biggest victory against the bjp since 2019. the ruling party's premises include cash benefits for women. wildfires in canada's oil heartland are on the rise as conditions turned hot and dry over the weekend. 83 active fires were recorded in alberto on saturday, up from 76 on friday. recent rain" weather have allowed oil and gas producers to restore some output, but analysts say more wildfires will mean higher canadian oil prices this year. global news, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn, and this is bloomberg. shery: still ahead, main street research tells

i'm vonnie quinn. markets to potentially raise billions of dollars in a major test of investor confidence. first, we are live in japan as finance ministers and central bankers gather amid the prospect of a global recession. this is bloomberg. ♪ go. go green. go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed, to technology that makes clean energy reliable, emerson innovation helps make the world healthier, safer, smarter and more sustainable. go boldly. emerson. haidi: global finance ministers gather in japan. the u.s. treasury secretary hopes to discuss a new set of possible restrictions on outbound investments to china. our chief north asia correspondent stephen engle joins us now. what did we hear from janet yellen on this? stephen: we heard a number of different things. we will hear more today when my colleague wil

i am vonnie quinn and this is bloomberg.hery: we are at the conference in sydney with a busy day ahead with guests. who are you speaking to? haidi: a busy day ahead of a busy week. thanks are kicking off behind me. we will brief speaking with a gold focused minor who has seen fortunes rise across the banking sector. before that, we are joined to discuss rising demand the australian property market and whether prices have bottomed out. this is bloomberg. haidi: this is daybreak: australia from the conference on day one. the surge of migration and the tight rental market seeming to signal perhaps prices have bottomed out. let's discuss this with the head of one of australia's largest developers who joins us exclusively on day one of the mcqueary conference. potentially, we are heading into signs of stabilization. are you feeling more comfortable gauging where market levels are at? >> we have seen quarter over quarter sales increase but we are still below long-term averages. in the last 12 months, we have had the sharpest volum

vonnie: thank you.k west tumbling after bloomberg reported the lender is waiting strategic options including a sale. sources tell us the bank has been considering a breakup. pack west said last month that deposits said stabilize after withdrawals in march for stick to disrupt liquidity. president joe biden has picked philip jefferson for a promotion to vice chair of the fed. biden also nominate an economist to an open board position. the selections could be announced as soon as friday. if confirmed by the senate, he would be the central banks latina policymaker in its 109 year history. morgan stanley facing a lawsuit from an external recruiter who claims it is terminated against him because he is black. anthony fletcher's says the bank deprived him of commission and paid hims less and said job candidates were required to accept lesser roles than those they previously held. morgan stanley says the suit has no merit and is based on a fee dispute. saudi arabia is reportedly trying to offer leonel messi a $

on vonnie quinn and this is bloomberg. haidi: the largest maker of smartphone chips painting a gloomy outlook. coming up next, more analysis on jay powell's rate hike pause. dennis lockhart joins us to discuss the central bank's options as the inflation fight drags on. this is bloomberg. ♪ really to worry about. and then when i was diagnosed, there was just such a big weight put on my shoulders. every night, i felt like maybe i won't wake up tomorrow. but there's no way that this is going to win. i'm winning. announcer: st jude children's research hospital works day after day to find cures and save the lives of children with cancer and other life-threatening diseases. beth stewart: there are treatments that were invented within the walls of this hospital that have continued to improve the cure rates for pediatric cancer, and st. jude's not going to stop until every single kid gets that chance to walk out of the doors of this hospital cancer free. lila: if it weren't for st. jude, i wouldn't be sitting here today. peter: th

i am vonnie quinn. this is bloomberg. shery: still ahead, japan is pushing to use more ai to help plug labor shortages. or interview with the japanese minister this hour. but first, we preview china's key activity data this week with hsbc's kai: economist next. this is bloomberg. ♪ haidi: key data from china this week might suggest that economic recovery is doing better than it actually is in reality. industrial output and retail sales for april are expected to show rapid growth that comes with a major caveat, the numbers will likely by a very weak case. many cities were paralyzed by lockdowns from restrictions at the same time last year. in terms of what the pboc might do, bloomberg economics is expecting the central bank in china to cut it one year mlf rate for the first time since august later today, to support growth. let's talk the outlook with frederic neumann, chief asia economist and global head of research on asia at hsbc. let's start with the policy reaction, given that it's top of mind. bloom

i'm vonnie quinn and this is bloomberg. haslinda: still have this hour, hsbc says india's economy may double its current size within a decade, driven mainly by tech-focused sectors. we will take a closer look later this hour. rishaad: we've got week consumer inflation in china weighing on tech stocks. we will give you a breakdown on the earnings from that particular industry coming up. ♪ ♪ what do you get from the morgan stanley client experience? listening more than talk and a personalized plan ♪ to guide you through a changing world. ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ haslinda: welcome back. let's do a recap on china's cpi, coming in weaker than expected at the lowest level in about two years, perhaps paving the way for a monetary easing. the benchmarks right now, the shanghai composite index currently flat after rising as much as .2%. let's get back to behave -- they had of apac ish

let's get you to vonnie quinn.nt biden has called top congressional leaders, calling them to a meeting to discuss the debt limit standoff. this came just hours after the treasury secretary warned the u.s. risks running out of cash as early as june. since her -- hitting the current limit in january, the treasury has been using special accounting maneuvers to stave off a possible default. sources say the white house is considering promoting the fed governor philip jefferson to vice chair, in addition to announcing a latin candidate. this after pressure from senator robert menendez, calling for a latinx person to be appointed to the fed. made a protest in france saw a large turnout, fueled by anger over pension reforms. the government says more than 780,000 people took part in the nationwide protest. a labor union says the turnout may have totaled 2.3 million. police made at least 180 arrests and several officers were injured. emmanuel macron has push through with rising -- raising the retirement age to 64. president

let's get the vonnie quinn. vonnie: treasury secretary janet yellen says the u.s.ts failure to raise the debt limit. in a letter, she cited rising borrowing costs for securities in june. reiterating her warning that her department could run out of cash in june. kevin mccarthy says there -- they are nowhere near a deal. elon musk was issued a subpoena by the u.s. virgin islands in its lawsuit accusing jp morgan of knowing benefiting from jeffrey epstein's sex trafficking. the territory says it had reason to believe epstein referred to or attempted to refer musk to jp morgan. that has now asked the judge to authorize alternative means of serving the subpoena. the u.s. is preparing to buy up to 300 billion barrels of crude oil to refill strategic reserves. the emergency stockpile is at its lowest level after releasing more than 200 million barrels ticker prices last year. deliveries into the emergency government reserve are planned for august with awards to be announced in june. global news powered by more than 2700 journalists and analysts in more than 120 countries.

haidi: let's get you to vonnie quinn with the first word headlines. vonnie. vonnie: thank you.nshifted to a 25 basis point rate hike as it continues to battle inflation. but it also says the move won't be the last. e.c.b. president christine lagarde clear the central bank is -- future decisions will remain data dependent. deposit rate of 3.25% is the highest since 2008. >> inflation is still being pushed up by the gradual pass-through of past energy cost increases and supply bottlenecks. in services especially, it is still being pushed higher, also by pent up demand from the reopening of the economy and by rising wages. vonnie: western alliance has denied a report that is exploring the possible sale of all or part of its business. calling the report absolutely false. the financial times had reported that the company is exploring strategic options with advisors and is in the early stages of discussions. the lender also says that it hasn't seen unusual deposit flows following the sale of first republic bank. u.s. government agencies are reviewing the role played by goldman sachs

vonnie quinn has the first word headlines. vonnie: china pointing a little known government official as its top financial regulator. the former banker was most recently serving as a vice governor of the province. he will oversee the $61 trillion financial sector including banks and insurers. some market watchers were expecting the role would go to someone with more seniority. u.s. federal prosecutors are examining shortselling in recent weeks after the collapse of three regional banks. reuters excites a source saying the banking turmoil is an area of interest for the justice department. a member of president biden's council of economic advisors earlier told us regulators are closely watching short sales in the banking industry but the situation is still under control. bloomberg has learned ecb officials are starting to accept interest rate hikes might need to continue in september. sources say some policymakers from across a spectrum of the governing council think two further quarter-point hikes may not be enough to tame consu

let's get to vonnie quinn with the headlines. vonnie: janet yellen says the u.s.ce for the failures to raise the debt limit. she cited the rising borrowing costs for securities. she reiterated warning that they could run out of cash as soon as jim first. kevin mccarthy says they are nowhere near a deal on the debt ceiling. full ebay has signaled's -- felipe has said to be asked p if officials see a permanent downtrend in negotiation. elon musk was issued a subpoena by the u.s. virgin islands and accuses jp morgan of benefiting from jeffrey epstein attempting to refer musk to jp morgan and the judge has been asked to have alternative means to serve the subpoena peered forward is planning to cut 1300 jobs in china. both sales in china fell below half a million units for the first time in a decade as an -- as consumers embrace electric vehicles. they are working with partners to reduce cost. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: let's look at japanese banks as we wait the mo

i got one on the plane funded meiza vonnie. one of the new watches involved in sort of the name on the bus to come to me and me and cut the call. you come on, you got on just on 5 cuz you had called the girls participate in be boxing batches with boys. sometimes they have to read the voices to be hug, because moms here to the guy from the man who changes the suspect they just gathering all the shopping, dest, yours, and hoops, a police station from the audience. the, the geneva organizes these underground events. in these gatherings that also is a tendency to ostracize the female audience because when men get together and there is a clash of their masculinity to all the fluids and gus woods coming in in the fall of their job. ok, phone imbibed to dogs, phone. i do need you to an invisible to type was feed me rep was like i needed to push me these app. now please. i recognized roy ended agents. does this mean life and the reason why we apps about supporting people situation exist mean onto points to one of them, to me, to go to

this is bloomberg. ♪ vonnie: you were watching "bloomberg daybreak: australia."is based on monitoring and equipping up corporation with international inspectors even as its engineers at a just because uranium. the iaea report finds iran is less likely to face a censure when diplomats convene in june to discuss its nuclear program. the organization's inspectors have raised concerns in march over the presence of uranium particles in which to 84% purity. pakistan says it plans to import up to 35% of its oil needs from russia and what it calls a good price. the ministers as at the move will help lower prices for local consumers. he says two ships carrying 50,000 tons of russian per each are said to arrive in pakistan in the next 10 days. the philippine congress has approved the first sovereign wealth fund. it only needs to be signed into law by the president who widely push for the measure. at the finance secretary enters the fund will be able to generate returns for economic growth. some critics say this is ill-timed and the swift passage has political undertones. g

but i've got one on the plane funding news of vonnie. one of the new much is involved in sort of name on the bus to come on next to send me and me and cut the call. you come through, got onto somebody, had called the girls participate in beat boxing baptists with boys. sometimes they have to read the voices 300 because moms here to the so i'm wondering if the suspect date is gathering all the lessons of the shopping project. yours and who appreciation from the audience. the the denise organizes these underground events in these gatherings. they also, there's a tendency to ostracize the female audience because when men get together and there is a clash of their masculinity to all the fluids and gus woods coming in in the fall of their job. ok, phone. invited the phone. i do need you to an invisible, populous female rappers like i'm handicapped. push me these app now please. i recognize roy ended agents, does this thing, so it's my wife and the reason i am the apps about the political situation exist me onto points to one of the ssl when i

vonnie quinn. vonnie: china is expelling a canadian diplomat in a counter measure. the envoy from canada until saturday to leave. canada on monday expelled chinese diplomat zhou wei including him of foreign interference. canadian prime minister justin trudeau defended a move his government won't be swayed by chinese retaliation. china's foreign minister chin gung they will react to penalties imposed on its companies by the e.u. the e.u. has imposed trade restrictions to several firms as it tries to crack down on banned splice to russia. in berlin talks with the german counterpart chin said beijing does not deliver weapons to any nation or region. family and supporters of australian journalist zhang weilei, has yet to receive a verdict after facing a -- behind closed doors for a year and she is accuse of providing state secrets to a foreign country and they will continue advocating for her release. a new york jury has found donald trump liable for sexually assaulting and defaming writer e jean carroll. the court ordered the former president to pay $5 million in damag

let's get to vonnie quinn.erting that ecb officials are starting to accept that interest rate hikes may need to continue in september. our source says some policymakers from across the spectrum of the governing council thing to further quarter-point hikes may not be enough to tame consumer prices. that could mean a period move in september bringing the rate to 4%. svb will lead a financing facility of more than $200 million for privet energy solar projects. this is svb's first syndicated loan since it was sold to first citizens bank. the california-based lender was known as a climate bank before the collapse. privet energy says it reflects svb and the commitment to solar financing. u.s. lawmakers or santos has pleaded not guilty after being arrested on fraud and money laundering charges. the congressman was released on a $500,000 bond and continues to face calls to resign. the federal indictment alleges theft of public funds and making false statements to the house of representatives. santos says he believes he

a militant, cold for hun vonny was killed by indian security forces. when i heard about what happened to him, i decided to write a lot was going on in kashmir at the time. and i expressed that. i didn't find anything wrong about anyone. just the truths about my brothers knew by you young, the last things about the push media, people's long standing desire for us . that'd be cool. although it has received warnings, she continues to drop about human rights that to us at these crackdowns. i'm confusing that as to region. what about the valid on the p? i least would be scratch what any people would say, the indian army will come to your house. they will pick you up. well, i was afraid and so so i should stop him and then i remembered this. i must write, must feel whatever i am witnessing. i must rise. got mad, you will be the cause. so that's what i'm doing. yeah, i right. what i see, what i feel the see you've got too many people, particularly in this, comes over to muslim dominated area. consider that, but any style of music, to be honest, allow me to lo

yeah, big. 2016, a militant cold for hun vonny was killed by indian security forces. when i heard about what happened to him, i decided to write a note was going on in kashmir at the time and i expressed that. i didn't find anything wrong about anyone. just the truths about my brother's me by you young. the last things about the course media, people's long standing desire for us . that'd be cool. although a guy has received warnings, she continues to drop about human rights that to us at these crackdowns. i'm confusing that as to region. what are both valid valid on 50? i least with these guys with any people would say the indian army will come to your house. they will pick you up calling gabriel. i was afraid insults. i should stop him. then i remember the time must right, must feel whatever i am witnessing. i must rise, got mad, you will be the do what? so that's what i'm doing. yeah, i right. what i see, what i feel you'll the see you got the are many people, particularly in this comes over to muslim dominated area. consider zapper and the style of music. to be hon

i got one on the plane funding. news of vonnie. one of the new much is involved in sort of our name on the bus to come on like us to me and me and cut the call. you come on, you got on just on 5 because you had called the girls participate in beat boxing baptists with boys. sometimes they have to read the voices 300 because moms here to the guy from the man who changes the suspect. they just gathering all the listen to the rules shopping, get yours and who actually appreciation from the audience. the the denise organizes these underground events in these gatherings. it also is a tendency to ostracize the female audience because when men get together and there is a clash of their masculinity from all the fluids and gus woods coming in in the fall of their job. ok, phone imbibed to dogs, home. i do need you to an invisible to populous if you me rep was like i need to be cut off. push me these app. now please. i recognize roy indigent agents. does this to explain? why is that the reason why the apps about supporting people situation e

i'm vonnie quinn. this is bloomberg.aul: still to come, as china rolls out the red carpet for u.s. business leaders we take a closer look at president xi jinping's efforts to boost trade relations and the economy. up next, economic implications of the u.s. debt deal with ubs chief economist. this is bloomberg. ♪ ♪ >> we already saw a few years ago what happens with the default of the credit of the united states if we went near not raising the debt ceiling and jeopardizing the credit. i do not think the senate will play with that. the timing is challenging. >> from here we set the stage for future compromise and negotiation. to confront the challenges facing americans. shery: members of congress discussing at the debt ceiling deal. let's discuss the deal and economic implications with global chief economist at ubs. great to have you with us, thank you for your time. economist at bloomberg went through the deal and this was their conclusion, the debt deal has the potential to make the u.s. recession deeper and longer and b

i'm vonnie quinn. this is bloomberg. shery: still ahead, we have more from our exclusive interview with the jp morgan ceo this hour, jamie dimon explaining what regulators should do to put an end to the making turmoil. this is bloomberg. ♪ -- banking turmoil. this is bloomberg. ♪ 5-hour energy wants to charge up your summer. just purchase any 5-hour energy product, then enter for a chance to win an eco charger electric atv. just go to 5hecharge.com for details. 5-hour energy...charge it up! what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. >> actual default. that is potentially catastrophic. you can go through a million ways, but everyone -- i don't think it is going to happen because against catastrophic. the closer y

i am vonnie quinn.s are playing a risky game in the debt ceiling drama. mike talked about trade ties with china in an exclusive conversation with annmarie hordern. >> the president has made clear for a number of weeks now that congress has time to and needs to act to lift the debt ceiling. for the past couple of days, we have seen on display is american leadership. whether that is delivering a tough new sanctions package against russia, whether that is a common approach on china. republicans would put that at risk. that is what is at risk. that is republicans plan the games with the debt ceiling that they are. that is a huge play when it comes to economic war. it wants to de-risk. what is the difference? you saw that in the joint declaration. this comes to the core principles that unify us. this is an underlying approach here. that is something leaders agreed to. what that means is there are a set of places where there are concerned. things like china's market policies and practices. things like their d

let's get to vonnie quinn with the first word headlines. >> thank you. biden's approval rating is at a career low. results also show early voter preferences for the 2024 election. the approval rating fell to 36%. six points lower than in february. 56% of approval is performance. most regarding is too old for another term. chileans are voting to elect 50 members of a new constitutional counsel as they try again to rewrite a dictatorship. the push for a new constitution ended in failure when voters rejected a draft that many saw as to medical. results expected in the coming hours. taliban has agreed to china to bring in for structure projects to afghanistan. the chinese and afghanistan for ministers discussed the reconstruction including extending the economic order to the sanctions. beijing also called for more freezing of afghanistan's assets overseas. global is powered by more than 2700 journalists and analysts in with them 120 countries. this is bloomberg. qwest the leaders of south korea and japan have shown a united front at a rare summit in seoul. t

let's get you to vonnie quinn with the first word headlines. vonnie: the u.s. and taiwan have agreed to boost trade ties under an initiative announced last year. initial agreement will streamline customs, reduce wait times for trucks and vessels and improve regulation. the initiative is not a formal free-trade agreement but as part of the broader drive to deepen trade. u.s. house speaker kevin mccarthy and senate majority leader chuck schumer are making plans for a bipartisan deal to avert a u.s. debt default. mccarthy says negotiators may reach an agreement in principle as soon as this weekend and is letting up a vote in the house. schumer says the senate would take up the legislation after the house. he has alerted senators they may be called back to washington to vote next week. mexico's central bank has lowered its inflation forecast for the end of 2023. seize the inflation rate at 4.7% at q4 compared to a prior estimate of 4.8%. the central bank has halted its steepest ever series of increases. it has also promised to keep rates stable for an extended peri

i'm vonnie quinn.is bloomberg.. >> tiktok says it is on track to have all u.s. data hosted and overseen by oracle as the app deals with security issues. we have more from the economic forum. >> we believe the bill is simply unconstitutional. we very recently filed a lawsuit to challenge this in the courts. we are confident we will prevail. i think ultimately it is about providing value to the users and making sure that we continue to provide them a great service that benefits them. and that is our key focus at this moment in time. >> expressing oneself, was not quite hard to express yourself -- that quite hard to express yourself in congress when you were trying to tell your story of why tiktok is important to the u.s.? >> i think it was a very important process. and i'm very grateful for the opportunity to show up until all sides -- are side of the story. >> did you tell your side of the story? >> i believe i had time to do that. i believe it is a good opportunity for us to explain ourselves because t

on vonnie quinn. this is bloomberg.hery: still ahead, anz joins us to discuss the deepening oil selloff and why they are seeing recovery. up next, we talk investment strategy with ubs who think markets are pricing in excessive optimism for growth, earnings and inflation. more analysis next. this is bloomberg. ♪ >> you have a misallocation of capital where it goes into a narrower group of governments in the advanced economies. they are borrowing huge amounts of money and big corporations. you do not get the dynamism in the global economy that you need to get growth going. shery: world bank president david malpass on the global economy. our next guest says consumers should be diversifying beyond the u.s.. joining us is chief financial advisor and managing director at ubs. good to have you back. is this a valuation issue, the potential recession concerns in the u.s.? what are your price targets for the year? >> you would be surprised since the market has been bullish. we are pricing in about 3900 for the year and a lot of

i'm vonnie quinn. this is bloomberg.di: indian prime minister modi is in sydney for a two day visit when he will meet with the australian prime minister as well as business leaders. before that he will be attending an arena event in front of 20,000 indians. paul allen is at harris park, a home to the indiana diaspora in sydney. excitement has been building for the days leading up to the visit. paul: that's right, definitely a palpable sense of excitement. harris park is home to a portion of the expatriate community. half the people here are indian and there is a hope to officially name this little india. and a visit by the prime minister of india would advance that plan. this is nice scheduled stop but there is a possibility that the prime minister might pass by. what is on the agenda is the arena event. not far from here is stadium has been booked, 20,000 members of the community are expected to attend. there are flights from melbourne and new zealand, people keen to see modi up close. this is become a trademark when he

i'm vonnie quinn. haidi: let's get paul allen with our first guest. paul: a surplus on the one end, we have the finance minister joining us. congratulations, the first surplus in years. you had to be careful in terms of addressing cost-of-living pressure for example, some support for energy bills. at the same time, i dollar not spent on energy is a dollar spent somewhere else. how confident are you that these measures will push up inflation? >> dealing with the inflation challenge has been front and center in our budget considerations. we don't want to make the inflation problem worse. we are mindful of that in the decisions, but we had to make a whole range of balance and priorities. the budget is hundreds if not thousands of decisions that seeks to manage the inflation challenge, to do what we can on the cost-of-living, invest in opportunities of the future and repair the budget the same time. that's what the treasurer handed down last night did. we have big improvements in the bottom line, but that's because we bank a lot of the upward revisions in

let's get the first word news and get to vonnie quinn who was in new york. vonnie: u.s.karound that could speed up the vote on increasing the debt ceiling. the move forces of floor vote on the price holder bill which could be amended to increase the debt limit. support will be needed from five republicans to pass the house. it comes as the treasury chief warns the u.s. could risk default as soon as june. two more -- warring generals in sudan have agreed to a seven-day truce that would put a pause on what has been two weeks of fighting. the sudanese president brokered the proposed a cease-fire that would begin on thursday as the two sides were towards peace talks. several previous truces have not been implement it. the yuan says the fighting has killed 500 people -- the un has killed 500 people -- the un has said the fighting has killed 500 people. driven by rising food and transport costs under the rupee. the rate is expected to rise further after the government raised taxes and fuel prices to meet in the imf's goals of a loan program. millions of chinese travelers have

i'm vonnie quinn, and this is bloomberg.e: we will take a look at japanese assets here, particularly when it comes to the topix. you have hit the 30 year highs for that benchmark. we will see if that sticks here right now, but certainly we trade on 2126. we have to wait until the end of the day to see if we make that milestone but certainly a lab optimism they are in in this market. you take a look at how the banks are doing and they talked more about profits ahead that could be quite rosy as well. this is what we are seeing with big megabanks that did come out with earnings from the likes of m ufj and mitsui are doing this year right now. mitsubishi ufj up. market seems to be optimistic about it. rishaad: let's get to russel ward. they are looking at perhaps one for profits and their highest profits in years but they are holding off on boosting payouts to shareholders. is there a strategic decision taking place here was is it simply a case of them having very deep pocket and short arms? >> i suppose you could some right is

i'm vonnie quinn. this is new york. -- this is bloomberg. well, indian prime minister modi is in sydney for a visit during which he will meet with the australian prime minister. he is attending an arena, a new arena event in front of 20,000 expatriate indians. yvonne: that is where paul allen is in sydney. how are things going, what is the atmosphere like down there? paul: the atmosphere, very much one of excitement. prime minister modi is not due to appear here for four and a half or five hours but a big crowd is gathering. you can hear them behind m far s melbourne and new zealand for the event. 20,000 people are expected to pack into the arena behind me to see and hear the prime minister speak in a few hours time. rishaad: the question is also when is he going to get down to the business of the trip? paul: that's a good question because this big stadium event which had become his trademark when he is on foreign trips has soaked up a lot of the oxygen into the headlines, but yes, tomorrow there will be the business of the trip. the bilater

i am vonnie quinn. this is bloomberg. haslinda: we have a headline from dbs ceo saying clients chose to buy $140 million in bonds from dbs. it reflexive change in sentiment following the banking crisis. the ceo speaking at the virtual briefing after the results. the company did beat, but he said he is pretty cautious when he takes a lootheutlook for th still ahead for this hour, shweta rajani, anand rathi private wealth management. rishaad: plus vikram sinha from , indosat. he will be discussing the growth strategy. that is all on the way in just a minute. ♪ rishaad: we have this week's central bank parade, kicking off with australia, expected to take another pass on rate hikes. kathleen hays is with us. let's kick things off with the rba. the inflation rate at the moment , is it enough to pause? they paused last month and inflation was a little bit higher. everybody is assuming that we will see another pause. two big banks switched their forecast recently after they saw better-than-expected inflation reports last week to

let's get over to vonnie quinn with the prestwood headlines. quick the turkish president as when the support of the bible, boosting his bid to extend the role. he has asked his supporters to back this on runoff. they fell short of the 50% majority needed. thailand's pro-democracy parties are getting ready to form the next government. they signed a pact that lays out their ambitious plans including charter amendments. they stop short of adding changes. that is a move that may be a support for this one to become prime minister. steering clear of the u.s. china competition. the lender is focused on integrating the e -- the regions countries through infrastructure and power products. this marks a stark difference between the predecessor here. however more than 2700 journalists and analyst in more than 120 countries, i am vonnie quinn and this is bloomberg. >> modi is in sydney to meet with his counterpart and the broader business community. we will take a look at what is on the agenda later this hour. assessing the market sentiment as investors ask

i am vonnie quinn and this is bloomberg.ead this hour, we will get analysis from dsp investment managers at the reserve bank of india, hiking its dividends for a boost for the government under the modi administration. rishaad: up next, we will break down the climate pledges with the chief sustainability officer at abrdn. this is bloomberg. ♪ yvonne: more on the g7 now. their battle on climate change has been a focus during the weekend summit in hiroshima. antonio guterres saying the g7 is essential to climate action. rishaad: they pledged to scale up and enhanced support to strengthen the resilience of climate vulnerable groups through enhancing climate change adaption and climate disaster risk reduction. yvonne: they also put up rules to put up on hundred billion dollars towards mitigation actions. let's get more with abrdn's chief sustainability officer, amanda young. any key takeaways for you from the g7? amanda: one of the key things is that we at the g7 remain committed to combating climate change. but the action we are

this is bloomberg. ♪ >> this is daybreak issue, i am vonnie quinn with the headlines.ncies at u.s. employers felt by more than forecasted as layoffs jumped. the number of available positions decreased for a third straight month to 9.9 5 million from nearly 10 million in february. layoffs jumped to the highest levels since december 2020 with rates falling to the lowest in 22 years. morgan stanley is in talks with regulators over how certain employees shared or used information on the pending block trades. morgan stanley has let go to bankers in relation to the issue. kamala harris will meet with ceos from alphabet, microsoft, open ai and others to discuss generative ai. officials plan to tell the companies they have a responsibility to mitigate potential harm from the technology. an invitation to thursday's meeting seen by bloomberg says the administration is seeking a frank discussion with leaders. south korea's world governing body is touching not to televise women survives markup in five major european guppies. the hosts are australia new inland -- to seal bidders ar

i'm vonnie quinn. this is bloomberg.di: ceo bill winters says regulations should have prevented recent banking turmoil. speaking to us he weighed in on calls for a radical overhaul of how banks are funded. >> deputy governor of the bank of england, paul tucker, he wrote a piece saying regulation and bank management will have to change. we have to expect a 100% run on deposits at any time. that is a very different world. if we have to be prepared for that kind of migration of money, we are going to have to have a fundamentally different underlying functional financial infrastructure. >> that strikes fear and horror into me. i lived through the crisis as did you. which brings us then to regulation. failure to update and expand the insurance regime has hammered more nails into the coffin, so with that in mind, the fdic's is late and lagging in regards to regulation. >> let's get the order of things right, first order, banks need to manage themselves. when the dust settles and we take a look at what happened in the u.s. or s

haidi: let's get you over to vonnie quinn with the first word headlines. >> the u.s. and taiwan have a to boost trade ties under an initiative announced last year. the agreement will streamline customs, reduce wait times for trucks and buses, and include -- improve regulation. it is not a formal free-trade permit, but is part of a rotor drive to deepen ties. u.s. house weaker kevin mccarthy and senate majority leader chuck schumer are making plans for a bipartisan deal to avoid u.s. debt default. mccarthy says negotiators may reach an agreement as soon as this weekend. schumer says the senate would take up the legislation after house passage for your he has alerted senators they may be called back to washington to vote next week. fed officials are sounding increasingly split over whether to raise or pause interest rate hikes. while at one governor made the case for patients, the dallas fed chief says she is not ready to pause. she floated the idea of skipping to july. mexico central bank has lowered its inflation forecast for the end of 2053, it seems that the inflati

we have a vonnie quinn in new york. >> ukrainian president solesky is denying that his government used a drone to attack putin's resident in the kremlin. solesky says ukraine only fights in its territory, adding that moscow may be try to distract from its failures. unverified we do from social media says what desk shows what -- moscow says putin is not at the kremlin. pacwest has tumbled in trading after bloomberg reported it is weighing strategic options including a sale. the bank is also being considered's recut. it said last month deposits had stabilized after a rush of withdrawals in march. china has reported a surge in travel and spending over the labor day holiday. the ministry of culture and tourism says the rustic trips jumped 70 percent. tourism spending exceeded the pre-pandemic level. economist predicted the chinese economy will expand this year. for the first time, the sec will require hedge funds to share information on major investment losses. they have no more than 72 hours to report trigger events. it will not be shared with the investing public immediately. global news

i got one on the plane funding news of vonnie. one of the new watches involved in sort of forgot her name on the bus on to come on. not gonna send me an email cuz i'm going to call you, come on, you got on just on file cuz you had called the girls participate in beat boxing, bachelors with boys. sometimes they have to read the voices to be hard. because moms here to the changes, the suspect date is gathering all the listen to the rules shopping, get yours and hoops, appreciation from the audience. the the denise organizes these underground events in these gatherings that also there's a tendency to ostracize the female audience. because when men get together and there is a clash of their masculinity to all the fluids and gus woods coming in in the fall of their job. ok, phone imbibed to dogs, phone. i do need you to an invisible to type was feed me rep was like, i need to be cut off push me these app. now please. i recognized roy indigent agents. does this to explain why we apps about supported people situation exist? mean onto poi

i'm vonnie quinn, and this is bloomberg. what they are owed. analysis just ahead. this is bloomberg. ♪ rishaad: let's have a look at what is going on with these bounty stocks. these are moving to the upside. we saw this 138% jump in adani group profits. this is growth coming through post that hindenburg research report, which question the whole company's scaling. that is being responded to perhaps by these numbers, which show that revenue almost tripled , so actually, ample revenues. up 45%. haslinda: staying with india, cash-strapped budget carrier go air is seeking an entry moratorium to restrain lessors from taking back its aircraft after it filed for insolvency. let's bring in the ceo of martin consulting, and aviation consulting firm. good to have you with us. wondering how successful will go air be in keeping its planes. >> great to be on bloomberg this morning with you. the issue with go air, and it is not just go air. it affects hong kong express, the funds are, turkish airlines, swiss air baltic, jetblue, and severa

a militant, cold for hun vonny was killed by indian security forces. when i heard about what happened to him, i decided to write a lot was going on in kashmir at the time. and i expressed that. i didn't find anything wrong about anyone. just the truths about my brothers knew by you young, the last things about the push media, people's long standing desire for us . that'd be cool. although it has received warnings, she continues to drop about human rights that to us it. these crackdowns. i'm confused and that is the region. and that's what i bought. the laser based guides with any people would say the indian army will come to your house. they will pick you up the top level. i was afraid and so so i should stop and then i remember the time must right. must feel whatever i am witnessing. i must rise. got mad. you will be the do what? so that's what i'm doing. yeah, i right. what i see on what i feel the receiver got the are many people, particularly in this, comes over to muslim dominated area. consider zapper and the style of music. to be honest, allow m

i am vonnie quinn and this is bloomberg. after posting big earnings miss and the fourth quarter. our interview with ceo mike frank. ♪ rishaad: mumbai there just at the moment gearing up for the start of the cash trading in just over five minutes. certainly what we are looking at is quite a turnaround for what is going on. they are most bullish on billionaire companies since january of 2016. 33 of 38 analysts rated the stock a buy. it is down 3% this year compared with 1.5% for the benchmark sensex index. let's get to our reporter who joins us from mumbai itself. why -- where is the optimism coming from? >> thank you once again for having me. the optimism is stemming largely from the fact that white bullish across business verticals where reliance you talk about consumer facing businesses and the new energy venture that they are getting into where he has already promised a number of investments. clearly, at this point in time the optimism among the street analysts is quite high, but look at the one-year performance of that li

i got one on the plane funding. news of vonnie. one of the new much is involved in florida. i forgot her name on the bus on to come are not gonna send me an email because come on, got on his own file cuz you had called the girls participate in be boxing batches with boys. sometimes they have to read the voices to be hug. because moms here to the changes, the suspect date is gathering all day. listen to the rules dropping, dest, yours, and hoops, appreciation from the audience. the the denise organizes these underground events in these gatherings, that also is a tendency to ostracize the female audience. because when men get together and there is a clash of their masculinity from all the fluids and gus woods coming in in the form of their job, ok, phone imbibed to dogs, home. i do need you to an invisible to place if you me rep was like i need to be cut off. push me these app. now please. i recognized roy indigent agents. does this to explain why the apps about supported people situation exist mean onto points to one of them to, to go to the sol when it gets you won't get any

i got one on the plane funding. news of vonnie. one of the new watches them fall into what a name on the bus on to come on the send me an email. you cut the call. you come on, you got on just on file because you had called because participate in beat boxing bachelors with boys. sometimes they have to read the voices 300 because moms here to the guy from the man who changes the pennsylvania. spect date is gathering all day. listen to the rules shopping desk drawers and hoops, appreciation from the audience. the the denise organizes these underground events in these gatherings. it also is a tendency to ostracize the female audience because when men get together and there is a clash of their masculinity to all the fluids and gus woods coming in in the form of their job. ok, phone imbibed to dogs, phone. i do need you to an invisible, to populous. if you me rep was like i need to be cut off. push me these app. now please. i recognize roy indigent agents. does this to explain? why is that the reason why we apps about supporting people s