on vonnie quinn. cache i am vonnie quinn. -- i am vonnie quinn. this is bloomberg.deral reserve's latest ability report is waving a red flag on the increased vulnerability of asset prices amidst fresh valuations and high corporate indebtedness. kathleen hays is here with a message from the twice yearly report. why is the fed worried about financial instability? kathleen: for the same reason a lot of investors are wondering how long stocks can continue to rally as the fed buys bonds, if the fed keeps rates near zero. this is the kind of concern investors have had for a while. a no-brainer, the board governor is the head of the board's financial stability committee. they put out this report twice a year. here's one of her most important statements, she issued her own statement alongside the fence report. the combination of stretched valuations with high levels of corporate indebtedness bear watching because of a potential to amplify the effects of a repricing event. i guess a repricing event is when people say, may the stock valuations are too high, i better sell some

that's get to vonnie quinn -- let's get to vonnie quinn. vonnie: joe biden ordered u.s. intelligence to increase efforts to determine the origins of the coronavirus. in a statement, he said a report from the intelligence community was divided on whether the virus came from animals or a laboratory. biden said there was not enough information to make a confident assessment. the trial of an australian writer accused of spying in china is set to start thursday. she was arrested in 2019 and could face three years to life in prison. the foreign minister has complained about her treatment. in comments, beijing's industry -- relations have soured since canberra called for an inquiry into the origins of the pandemic. boris is facing a barrage of criticism from his former chief adviser. during seven hours of testimony to mp's, dominic cummings laid out what he said was a disastrous handling of the pandemic. he called him unfit for the job. >> in any sensible, rational government, it is completely crazy that i should have been such a senior position in my personal opinion. it's jus

let's get to first word news with vonnie quinn. vonnie: a diplomatic push is intensifying to end the most serious clashes since 2014 involving israel and the palestinians. the u.s. tabloid -- deployed an envoy to the region, and air raids and palestinian rockets have killed at least 56 palestinians in gaza and six people in israel. the philippine says china has deployed more ships to an area of the south china sea. foreign affairs affairs secretary says that the nation is considering another round of protests after beijing and included -- increased chinese vessels to 300. the top diplomats pledged to take up the matter with the chinese counterparts. >> once i learned of the coordinates and more data on this from the national task force, they don't tell me, nobody else, and then i prepare my diplomatic protest. this is a sanction because you never let any incident pass. vonnie: u.s. trade representative -- katherine tai was responding to a finance committee question about the trade expansion act which former president trump used to p

i'm vonnie quinn.his is bloomberg. ♪ haidi: we will have more on how the taiwan travel and tourism sector is faring amid the pandemic. we talked to silk hotels executive chairman stephen tan. yvonne: plus, more investment insight from the stone conference. sixteenth street capital founder rashmi kwatra joins us next. this is bloomberg. ♪ ♪ haidi: the sohn conference in hong kong has wrapped for another year, one of asia's biggest event spirit sophie kamaruddin is standing by with one of the speakers to discuss her picks. sophie: we are joined by rashmi kwatra, founder of sixteenth street capital, joining us from singapore. adrs jumped nearly 9% on thursday, trading at 246, we saw 280 earlier this year. you are predicting the share price could triple in 3-5 years. which business in the portfolio offers most growth potential -- most growth potential for the company? rashmi: the largest value in the next three years will come from e-commerce shopping, still to be most profitable. sophie: revenues more tha

that is the market snapshot and let's get over to vonnie quinn with the first word news. nnie: brazil's health regulator has recommended the astrazeneca shot be immediately suspended for pregnant women as authorities investigate a death of a rio de janeiro woman. they say that the risks are rare and the government says that new guidelines will come after further findings. president biden expanding free rides from uber and lyft as a way to entice americans to get vaccinations. the right businesses will offer free fares on july 4. domestic demand is weakening and virus cases are falling. biden has promised more vaccine help overseas. pres. biden: every country in the world is looking to us to provide for their lack of capacity to produce and or have vaccines. i will not shortcut the united states of america, i promise we will have enough vaccine, but we will be engaged in working with other countries. vonnie: bloomberg news has been told that former chicago mayor is president biden's take to become the u.s. ambassador to japan. he became president barack obama's first white

let's get to vonnie quinn. vonnie: jerome powell has announced a forthcoming report on the u.s. -- he wants the bank to wait a leading role in developing international standards and how do currency it would fit into the u.s. system of banking currently. powell says any currency should replace -- comp might not replace cash. >> this is an important issue. before making any decision on whether how to move forward with this. vonnie: president biden has signed bipartisan legislation to combat anti-asian hate crimes that raised sharply during the pandemic. the bill pays for states to report incidents and wants to help law enforcement with the justice department overseeing the response. another overacted -- overactive a mentor hurricane system, more than 20 main storms could impact the region after a record in 2020. the gulf could see 14 record stores. records last year driven by climate change drove an all-time high of a budget storms that killed more than 400 people. global news 24 hours a day, on air and on bloombe

let's get you to vonnie quinn. vonnie: thanks.ng his nearly $175 billion ev proposal that seeks to transform the energy. -- industry. he visited a ford plant to get a sneak peek at one vehicle. ford says the truck will be a turning point in the electric vehicle revolution, as the u.s. takes on china in the race to the global market. >> the future of the automobile industry is electric. there is no turning back. the american automobile industry is at a crossroads. the real question is whether we will lead or fall behind in the race to the future. vonnie: overall, covid-19 cases in the u.s. are going down, but when it comes to a rare inflammation in children, the cdc says 3500 cases of the inflammatory syndrome has been diagnosed and kick since early in the pandemic, and the real number may be higher. large parts of india struggle against the rise in covid cases, the financial center of mumbai reporting fewer casualties. it has reported just under 2800 deaths since the second wave began march 1. that is one quarter of more than 10,0

for now, let's get over to vonnie quinn with the first word headlines. vonnie: the world's largest vaccine maker is promising to deliver 220 million shots to vaccine starved india over the next few months. that is enough to cover 8% of the country's population. it is said that the government will receive 110 million doses of covid shield, while state governments and hospitals will get the rest. india has been struggling to curb its covid crisis. confirmed coronavirus cases in the united states rose at the slowest pace since the start of the pandemic. data from johns hopkins and bloomberg show a 1.07 percent gain for the we it just ended, below the previous low of 1.25% set in march. new infections increased by about 344,000 last week. the european commission is proposing easing restrictions on business and leisure travels from countries with relatively low infection rates, as well as those fully vaccinated. in a tweet, the commission president said it is time to revise the eu tourism industry. proposals require approval from the majority of the eu block,

let's get over to vonnie quinn in new york for the first word news. vonnie: president joe biden said there's no evidence russia was involved in the ransomware attack that crippled colonial pipeline. but he said moscow bear some responsibility. colonial expects the pipeline to be viable again by weeks end. a frenzied mood by traders and retailers for alternatives. in india, authorities are warning about an injection that can disfigure facial features and even kill. those who had long -- for long stays in the icu are particularly susceptible. malaysia's prime minister says the country has tightened restrictions across the nation to contain a coronavirus infections. it will be in effect from may 12-june 2. schools will close. social gatherings are banned. malaysian officials say one mp is suing -- one mpg is suing more companies including jp morgan and deutsche bank in an attempt to recover assets. the finance ministry said 22 civil suits have been filed. it's a latest effort to recover billions after the government successfully recovered $3 billion from

let's get over to vonnie quinn with first word headlines. onnie: india's capital has extended a locked for another weekend, adopting stricter restrictions to control new waves of covid-19 infections, restrictions that have been set to end monday will now run until may 17. india is battling the world's fastest-growing outbreak of the virus, reporting 403,000 cases sunday, along with 4000 deaths. tokyo successfully completed a test event at its national stadium in the count to the olympics. 1600 athletes, organizers and media, got an early look sunday at what the games will look like when they begin july 23. anti-infection protocols were in place, including temperature checks and mandatory masks. friday, the government extended tokyo's virus state of emergency and the end of may. european leaders urged president biden to lift restrictions, on covid vaccine exports before embarking on complex discussions about patent waivers. friday, the u.s. suggested suspending intellectual property rights to boost a supply of shots for poorer countries. gathe

a scout -- let's now get over to vonnie quinn with the first word headlines. vonnie: thank you, sherry. the interception of an airplane flying from athens by belarus is military. violation of travel protocols led to the plane enforce to land in. local authorities boarded and arrested a journalist. before the flight was allowed to eventually resume. toronto's likely to temporarily extend the nuclear agreement expired over the weekend. a rainy and state tv -- iranian state tv reports washington's return to an abandoned 2015 nuclear record, and removal of trump era sanction within 30 days. antony blinken told the u.n. the u.s. was prepared to return to the original deal. an egyptian court has rejected an appeal to allow the giant container vessel to block the suez canal to leave the country. they're claiming more than $900 million in damages from the japanese owners from the ever given, which was stuck in the canal for six days in march, wreaking havoc on global shipping. the demand is inflated. another hearing is set for mates tonight. taiwan saw a steady increas

i am vonnie quinn.he vaccination rate in hong kong is lagging other financial hubs like singapore and new york despite relatively few cases. that could erode the city's competitiveness and permanently change the course of its future. bloomberg's annabelle droulers reports. ♪ >> fewer than 15% of people have had their covid shots in hong kong, and that has the business community worried. >> other areas of the asia-pacific region, including singapore, are moving ahead. >> hong kong can fall behind if it doesn't do that. >> quarantine measures are among the strictest in the world, which is a major issue for ex-pats, who have gone months, even years without seeing loved ones. >> it becomes a factor in mood. it starts to make people wonder if they are going to be stuck here and whether it is actually worth it. >> relocation agency asian tigers, is recording fewer international arrivals. >> we are 60% down on the number of inbounds. that is very dramatic. . >> prompting calls for more guidance from the govern

i am vonnie quinn.his is bloomberg. shery: still ahead, the u.s. secretary of commerce is pledging to do all that is necessary to protect american industry. our interview with gina raimundo's next. don't miss two more interviews. we will hear from salesforce. this is bloomberg. ♪ ♪ haidi: u.s. commerce secretary gina raimondo says the u.s. could build six or seven semiconductor plans to help combat the global chip shortage. she spoke with bloomberg technology anchor emily chang. >> it's an economic security problem, and national security problem, and i have to say thank you to everyone that we have been engaged with. they have been great partners. and this will require public-private partnership. we can't do it -- government can't fix this problem alone. the private sector needs to be there and i think they will be. emily: gm announced it is restarting production at several plants that had been idled. meantime you had covid cases rising at taiwan, the heart of the semiconductor industry. will that impac

let's not get to vonnie quinn. -- let's now get to vonnie quinn with the first word headlines. first word headlines. president biden says there is no evidence russia is involved in the ransomware attack has a bold the colonial fuel pipeline, but the president says the perpetrators may be based in russia, so moscow bears some responsibility. colonial says it expects the pipeline to be viable again by week's, but the shutdown is prompting frenzied moves by traders and retailers to secure alternative supply. >> over the weekend at my direction, the department of transportation issued an emergency order to loosen restrictions on truck drivers in order to allow more fuel to be transported by tanker. we are prepared to take additional steps, depending on how quickly the company is able to bring its pipeline back to full operational capacity. shery: sources tell us the u.s. is planning a summit with companies impacted by the global chip shortage, including intel, samsung, and amazon. commerce secretary will convene the meeting may 20 to discuss ways to bring together chip suppliers an

let's get first word headlines with vonnie quinn. vonnie: european leaders have urged president biden to lift restrictions on covid vaccine exports before embarking on discussions about waivers. on friday, the u.s. suggested suspending intellectual property rights to boost supplies for other countries. weathering are the leaders of germany, france and italy. they say while that might boost supply longer-term, action is needed now. the european union and india have agreed to resume long stalled talks on free trade deals in the face of an increasingly assertive china. the agreement was struck at no virtual summit between eu leaders and india's prime minister narendra modi. it is aimed at rebooting relations and boosting cooperation across key fields including visualization, health -- digitalization, health and climate change. iran pushing for its industry to given guaranteed and conclusive sanctions relief. the country's central bank has confirmed that leaders directly involved in talks to enter any removal of u.s. sanctions is tangible

let's get to vonnie quinn with the first word headlines. vonnie: new covid infections in india have fallen to their lowest level in more than six weeks. the latest data show nearly 174,000 new cases, taking the nationwide total to 27.7 million. reported deaths remain 4000 for a third straight day. the government has announced free education and health insurance for children orphaned by the virus up to age 23. [inaudible] has ordered residents to contain a coronavirus outbreak. cctv is reporting five confirmed cases and 21 a symptomatically infections have originated from the variant. the government said household members from the area can leave home to buy daily necessities. singapore's prime minister is expected to outline a plan in a speech later monday for tackling the coronavirus and reopening the economy. in a facebook post, he said the government aims to accelerate testing protocols and vaccination programs, offering every eligible person a shot by the end of august. 19 new cases were reported on sunday, including next known clusters.

let's send it over to vonnie quinn with the rest of the first word headlines. vonnie: thanks and good morning. the world economic forum has canceled the annual meeting it was planning for singapore in august. the spike of infections there and an uncertain global travel outlook. earlier, singapore and hong kong once again delayed a travel bubble that was set to begin may 26. a spike in more transmissible cases has halted hong kong who added singapore to its list. more virus restrictions have been lifted and the u.k., as it takes the next step out of lockdown. prime minister boris johnson is concerned the highly transmissible virus strain could lead to a surge in infections. the government is accelerating the vaccine rollout, down to ages 35 and older this week. . johnson facing pressure from the party. bloomberg has learned italy plans to stage out a national curfew in a push to open its rate -- its economy. the prime minister agreed to remove the curfew june 21, if infections keep declining. we are told his cabinet approved speeding of the timeline for reopening

i have the -- i'm vonnie quinn.s fully vaccinated people can stop wearing masks outdoors and indoors. it is the most significant shift since the start of the pandemic. the cdc cites growing evidence of the efficacy and protection offered by vaccines. it recommends masks on planes and for those not fully vaccinated. >> anyone who is fully vaccinated can participate in indoor and outdoor activities, large or small, without wearing a mask. if you are fully vaccinated, you can start doing the things you stopped doing because of the pandemic. we have longed for this moment, where we can get back to normal. >> the philippines officials say the economic hub of nearby areas was shifted to the second tier of restrictions. the philippines suffered a larger than economic attraction earlier. the european union accusing russia of gradually trying to take over eastern ukraine. the eu says kremlin tactics was issuing reports to locals. global news, 24 hours a day on air and on bloombergquint take powered by more than 20 700 journa

let's get to first word headlines with vonnie quinn. singled out china after two days of talks in london, calling on beijing to engage constructively in the rules-based system, while alleging human rights abuses in two regions and supporting involvement in the who. leaders meet next month and the u.k. the u.k. will lift a ban on international leisure travel, but only to the handful of locations. destinations could include malta, iceland, and israel. testing will be mandatory. airline say it is too costly unlikely to put people off traveling. the philippines could see its vaccine supply jumping 7 million doses with new deliveries from china and russia and covax deliveries. it is counting on manufacturers on reopening after last year slump. the government has inoculated 2 million people with 1.7 million doses at their first doses. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. i and vonnie quinn. this is bloomberg. ♪ shery: still ahead, the outlook

let's get to vonnie quinn with the first word headlines. ie: new data shows extended slowdown and the spread of covid-19 in the united states. figures reveal the country recorded its first week in june with infections under 30,000. the cdc warned that under vaccinated areas had become hotspots for the mutations from india and says there is surveillance of the more transmissible variants. malaysia says it will begin enforcing stricter curve use without forcing -- curfews without forcing nationwide lockdown. starting tuesday, businesses will only be permitted to open between 8:00 a.m. to 8:00 p.m. also 30% of private sector employees will work from home. australia's government reporting promising pfizer vaccines to inoculate the entire country by the end of the year. 2 million pfizer doses should be available in australia each week starting in october. the health minister told the paper that shots will arrive by the end of june with 7 million more expected in the third and fourth quarters. global news, 24 hours a day on air and on bloomberg qu

first word news with vonnie quinn in new york. hey. vonnie: thanks. the european union agreed to new sanctions on belarus after the fourth version of orion or passenger jet and the arrest of a journalist on board. these include banning airlines from airspace and airports. further sanctions targeting lukashenko and his associates are also being imposed. russia is backing its allies following belarus's explanation of it actions. >> this outrageous behavior needs a strong answer. therefore, the european council decided that there will be an additional sanctions on individuals that are involved in the hijacking but this time also on businesses and economic entities that are financing this regime. vonnie: international efforts at reviving the nuclear accord are intensifying. president xi jinping told hassan rouhani in a phone call that -- nuclear issues. antony blinken said a deal is a priority. iran agreed to extend an agreement by one month, for continued surveillance of its installations. china is pushing back against a wall street journal report. the p

i am vonnie quinn. this is bloomberg. haslinda: still ahead, japan's economic recovery stalls, new restrictions to contain the coronavirus. we discussed the major data and outlook with fujitsu. yvonne: up next, as covid infections surge in taiwan, we speak to the official at the forefront of the islands response last year and sars back in 2003. this is bloomberg. ♪ yvonne: taiwan was a global success story during the pandemic, but now it faces hundreds of untraceable infections. take a look at this chart. more than 300 cases yesterday, record numbers. let's bring in our guest, the former vice president who also served as the health minister during the sars crisis, he was tasked with managing and performing the response. a pleasure to have you on the program. we mentioned about taiwan being one of those success stories to balla covid up until now. tell us what you think went wrong here. guest: i think this time with a highly infectious virus and variant. at the very beginning the virus spread from other countries to taiwan

. -- vonnie quinn. group issued a list of grievances including over taiwan and beijing's treatment of uighurs. the chinese foreign ministry urged western nations to stop interfering in other country's national effect -- national affairs. beijing halted an economic dialogue with camera and blasted new zealand over accusations of human rights abuses. the u.s. is boosting security assistance to ukraine to help counter what it calls russia's aggressive and destabilizing actions. secretary of state's's antony blinken met with ukraine president and called on moscow to end attempts to force troops to ukraine's border. blinken says the tripped served as a u.s. commitment to its partnership with ukraine. the pentagon says the fall of the u.s.-backed government is in place in afghanistan and it is now inevitable when american stroop -- american troops withdraw. while a resurgence to the taliban is not a foregone conclusion, the u.s. is looking at ways to continue training forces in third country locations. presid

let's get over to vonnie quinn for a check on the first word headlines. vonnie: the u.s. has joined other world powers. antony blinken spoke with his egyptian counterpart. as divine also reaffirmed israel's right to defend itself -- president biden also reaffirmed israel's right to defend itself. singapore has tightened lockdown measures as it attempts to stop new cases. most schools were closed from wednesday with most children returning to remote learning. the ministry of education says it was necessary. taiwan says it is racing to contain the worst outbreak of coronavirus all trying to avoid a full lockdown that could derail the largely successful ente covid measures. the country reported 206 new local cases on sunday. authorities put the capital into a soft lockdown racing to stop the outbreak. south africa is expanding the covid-19 vaccine rollout to health care workers and those over 60. the government will begin a mass vaccination effort at 87 sites across the country using pfizer's vaccine looking to inoculate more than 5 million senior citizens by the end of june

let's get you to vonnie quinn. vonnie: the is really military says both erin mass -- both air and ground troops are attacking the gaza strip. biden singled out attacks on gaza, which he says are fired indiscriminately into population centers. violence between israeli arabs and jews. u.s. house speaker nancy pelosi says countries -- companies like colonial pipeline should not pay hackers. sources say they paid nearly $500 million after the ransomware attack. the pipeline shut down triggered panic buying of gasoline in the eastern united states. >> this cannot be open season for hackers who can make money off of a threat even if they do not go as far as crippling the entity as with colonial they did not. vonnie: china has pushed back on a report it is considering replacing its economic envoy to the united states. a spokesperson says it is not true. the chief negotiator for the phase i trade deal signed last year between washington and beijing. the u.s. trade representative says she expects to talk to the top negotiato

i am vonnie quinn. this is bloomberg. haslinda: still ahead on bloomberg markets asia, women take a giant step closer to the top spot at j.p. morgan. more on that story, later this hour. rishaad: next, moody's bringing its ratings on airlines from negative to positive. we speak to the senior vice president just ahead. this is bloomberg. ♪ rishaad: some positive news for the airline industry, moody's revising its outlook for the global airline industry to positive from negative. that reflecting the ratings agencies views that the industry will improve over the next 12 to 18 months with vaccinations set to drive strong growth and travel demand into 2023. moody's had a negative outlook on the sector since march of last year. joining us from new york is the investors services senior vp. thank you so much for joining us. some better news, and perhaps light at the end of the tunnel for one of the hardest hit industry groups in the world. guest: that's correct, that is how we see it. we did make the change. our outlook is 12 to

let's now get to vonnie quinn. vonnie: bloomberg news learned president biden will delay by two weeks a ban on u.s. investments in certain chinese companies set to take effect may 27. sources tell us officials can draft guidance clarifying policy. we're told it includes three of the biggest telecoms. colonial pipeline says its communication system is back in service after facing network issues that affected shippers earlier. the crucial fuel supplier has been trying to recover from a cyberattack that forced to shut down, crippling oil across the southeastern u.s. the outage caused widespread gas shortages and price hikes. fuel supplies are not still fully restored. president biden has been touting his nearly $175,000 ev proposal that seeks to transform the auto industry, even as a global chip shortage hinders production. he visited a ford plant in michigan to get a sneak peek at its all electric f150 lightning. ford says it will be a turning point in the electric vehicle revolution, as the u.s. takes on china in the

we have first word news with vonnie quinn in new york. vonnie: china's biofarma has published a long-awaited vaccine study and appear-reviewed journal that shows detailed funding from a late-stage trial. the study published in the journal of the american medical association shows china's two vaccines prevented infections by 73% and 70%, in line with what the state-owned drug maker had announced. the japanese government recommending an extension of the current state of emergency in tokyo and other major cities until one month before the olympics. the current emergency is due to expire monday. but tokyo wants it. at least until june 20. the olympics are due to begin on july 23. a final decision whether to hold the games must be made by the end of june. president joe biden is reportedly set to unveil a budget friday that will hike federal spending two $6 trillion in the coming fiscal year. the new york times says the proposal will reduce deficit -- will produce deficits of 1.3 trillion dollars each year over the next decade with federal debt

let's now get over to vonnie quinn with the first word headlines. vonnie: china has deployed warships to a disputed area of the south china sea. before and affairs of secretary says the south asian nation is considering another round of protests after beijing increased chinese vessels in the contested area to 300 from more than 200 in march. he plans to take up the matter with his chinese counterpart. >> [indiscernible] this is essential. vonnie: a diplomatic push is intensifying into the most serious clashes since 2014 involving israel and the palestinians. the u.s. deployed in envoy to the region and palestinian media reports egypt and qatar also involved in mediation efforts. palestinian rocket barrages are reported to have killed at least 56 palestinians in gaza and six people in israel. a grupo cdc advisors say children ages 12 to 15 can safely take the shots from pfizer and biontech. they voted 14-0 after the fda cleared it for emergency use earlier in the week. the cdc director must now sign off on the recommendation to make it final. children

i am vonnie quinn.omberg. >> still ahead, our guest joins us to look over chinese tech earnings, with a focus on tencent. also, data indicates mrna vaccines are better at stopping people from becoming contagious. we will explore. this is bloomberg. ♪ >> the commodities complex crumbling, oil, soybeans, following an increase of 80%, coming after a super cycle call from goldman sachs and citigroup. let's welcome our guest. is this a case of too fast, too far, and this is a short-term correction? her the commodity still intact? >> you have to parse things out into two parts. if you look at what happened overnight, easy money conditions, the taper in the u.s., the world second main pillar of commodities demand, that is compounding worries over a tougher demand environment for raw materials. in china, they are closer to the end of this rapid pace in economic expansion, and credit expansion, so china was already starting to get closer to the peak of that cycle. you have authorities in china trying to jawbone

let's get to vonnie quinn for the first word headlines. ident joe biden is open to various ways forward for his vision for a better america. sources say that includes breaking his proposals into multiple bills. republicans are not onboard with the biden american family plan, calling for tax increases on the wealthy. there is support for some parts of his jobs plan, according to sources. biden says he sees bipartisan support but corporations need to do their part. pres. biden: it is about time they start paying their fair share. it is about making a choice. we had out there this year, you have 50 corporations making $40 billion and didn't pay a single penny in taxes. not a single penny. i don't want to punish anybody, but everybody should chip in here. vonnie: top diplomats from the u.s. and the u.k. have pushed back against what they call chinese and russian violations of the global order. those included crackdown on uighurs and the poisoning of russian opposition figure alexander navalny. the u.k. foreign secretary pledged to unite democra

let's get to vonnie quinn.union has agreed to new sanctions on belarus after the forced diversion of a ryanair as in georgette and the rest of a journalist on board. they include banning its airlines from the airspace of the block and airports. further sanctions targeting the president and his associates are being imposed. russia though backing its ally calling the belarusian explanation of its actions reasonable. international efforts at reviving iran's nuclear accord are intensifying. chinese state media says the chinese president supports reasonable demands on nuclear issues. antony blinken has said a -- has said the priority is a deal. meanwhile, iran has agreed to extend u.n. iaea's agreement. president biden is sending antony blinken to the middle east to firm up the cease-fire between israel and palestine. in a statement, president biden said the visit would reinforce ironclad ties with israel and rebuild relations with palestinians after years of neglect. china is pushing back against a wall street jour

i'm vonnie quinn. this is bloomberg.till ahead this hour, we discuss india's virus crisis with a senior leader and prime minister's ruling party. jay panda joins us later. rishaad: just ahead, benjamin netanyahu says he will continue to attack the gaza strip, despite calls for violence to stop. this is bloomberg. ♪ his is bloomberg. ♪ rishaad: these are live images of gaza city coming through at the moment as we have members of the un security council including the u.s. and china calling on israel and hamas to immediately halt more than one week of deadly fighting. israelis and airstrikes destroying three buildings and killing at least 42 sunday. benjamin netanyahu says the attacks will continue. >> we will do whatever it takes to restore order. we're trying to degrade their terrorist abilities and degrade their will to do this again. it will take some time. i hope it will not take long but it is not immediate. >> fighting must stop. it must stop. [indiscernible] i appeal to all parties to heed this call. rishaad: let's

spending and stimulus, and sorting things out, let's get that story in the first word news with vonnie quinnie: president joe biden has been in the louisiana up support for his two point $3 trillion that's -- $2.3 trillion plan . he also see -- says that the u.s. needs to step up its game in regards to china. pres. biden: china is eating our lunch economically. they are investing hundreds of billions of dollars in research and development. they will own the electric car market in the world. we have got to compete. vonnie: china has delivered a sharp rebuke to all of the g7 countries after the group issued a list of grievances over taiwan and beijing's treatment of uighurs. it warned nations to stop interfering. earlier, aging held -- beijing held i dialogue over human rights abuses. though u.s. seeking security assistance in ukraine to counter what it calls russia's destabilizing actions. secretary blinken met with ukraine's president and called on moscow to end attempts to force troops to the ukraine's border. the trip serves as a reaffirmation to the u.s.'s commitment to its partnership wi

for now, let's get over to vonnie quinn. ie: [indiscernible] janet yellen clarifying she was neither predicting nor recommending interest rate increases. she also said she does not anticipate higher inflation. earlier, she set off pickups and financial markets after saying in an interview that the biden administration's spending may trigger a rise in interest rates. >> it may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat, even though the additional spending is relatively small relative to the size of the economy. it could cause some very modest increases in interest rates to get that reallocation. haslinda: benjamin netanyahu has missed the deadline to form a new government. his failure raises the possibility that his party could be pushed into the opposition for the first time in 12 years. netanyahu has struggled to secure a parliamentary majority since march 23 when elections ended in deadlock, that was for the fourth consecutive time in the past two years. boris johnson sa

i am vonnie quinn. this is bloomberg. ♪ haslinda: still ahead on bloomberg markets: asia, i will look at crypto trading in china and we will speak with, the sean founder, justin sun. rishaad: and talking with propertyguru ceo hari krishnan about the company's plan to acquire rea group. this is bloomberg. ♪ >> welcome back. singapore real estate startup propertyguru has agreed to acquire all the shares in australia's rea group operating entities in malaysia as well as thailand. it is a majority owned by rupert murdoch's news core empire. for more on the deal, we are joined by hari krishnan. good to have you with us. is this about expanding the business before the expected ipo or spac? hair: thank you for having me. we are delighted to announce the acquisition of assets from rea group. we have looked at this as a way to invest in very attractive assets in that part of the world. these are truly transformative to the group and we are very excited about the prospects they bring to our group. haslinda: how i

let's get to vonnie quinn with the first word headlines. vonnie: more virus restrictions have been lifted in the united kingdom as it takes the next step out of lockdown. prime minister boris johnson is concerned the highly transmissible virus strain in india could lead to a surge in infections. the government is accelerating the rollout to include people 35 and older. johnson is facing pressure from his own party to stick to the timetable for full reopening. bloomberg news has learned italy plans to phase out a national curfew in push to reopen is its economy -- reopen its economy. we are told the cabinet approved speeding up the timeline for reopening businesses. it has also approved resumption of indoor dining starting june 1. the european union said it will not hike tariffs on a range of u.s. goods over a dispute. the e.u. commissioner says it will refrain from increasing duties. in return, the e you will discussion the metal issue. it began in 2018 when resident donald trump at the time slapped levies on steel and aluminum. a cyclone sl

i am vonnie quinn. this is bloomberg.hery: look at big win falling after a tweet from elon musk saying tesla as suspended vehicle purchases using bitcoin. our american markets editor joins us with more on this. steve, what prompted this tweet on the environmental impact by bitcoin -- of bitcoin by elon musk. $1.5 billion in bitcoin earlier this year. >> that is the big mystery. everyone who knows musk and tesla knows they are an alternative energy company basically and he certainly had to be aware of the energy usage for a very long time if not forever so it is puzzling even among industry insiders who have been very vocal about justifying the energy needs of tesla. haidi: you can to be on either side of that debate, but the facts have been out there for a while. the energy associated with mining don't would extend to other crypto currencies as well, so i am wondering how much of this takes away from the institutional appeal or gloss that bitcoin and other crypto have attracted over the past few months, given that a 4% pu

first word news, vonnie quinn in new york. ie: spacex finally sticking the landing on the fifth test flight of a starship prototype. launch and a touchdown marks a new milestone to send humor -- spacex facility in texas reaching an altitude of 10 kilometers before it's controlled dissents. top g7 diplomats have singled out china and a final communique after two days of talks. the statement called on beijing to participate constructively. the human rights abuses, and supporting taiwan's involvement in the world health the g7 leaders meet next month and united kingdom. moderna says early result from a mid-stage trial show its covid-19 booster shot get positive results against new variants, those that emerge in south africa and brazil. one of the boosters is an additional low dose of the existing vaccine while the other is customized. the drugmaker says it is worried about newer variants emerging from india. >> just as the data is going to be coming out, we are also seeing strains in india that seem even more ominous than the sout

i'm vonnie quinn. shery: results out later. u.s.ictions on the smartphone maker. vanessa martinez. she joins us live from chicago. great to have you with us. how much does the resolution of that create a better path forward for the stock price? vanessa: i think it's a good moment to have it removed from the blacklist. at the same time, it's coming at a point where global rotation from growth stocks moving into value stocks -- i think there's multiple ways that we can benefit from a china scrub. it might not necessarily be today and buying chamois. haidi: what are you looking ahead to in terms of the set of earnings? what would be something that jumps out to you? vanessa: the main focus would be profit margins. the expectations is that it will exceed. beside its own revenues, the profit margin is most interesting based on if you look at financials five years ago for xiaomi, the revenue on smartphones was 80%. the revenue coming from internet services was 5%. if you look at the close of 2020, we can see that the revenue move from smar

i am vonnie quinn. this is bloomberg.ins us to discuss china supply chain and logistic outlooks. up next, the heads of six of the biggest banks keep their in the face of another grilling from lawmakers. the details i had. -- ahead. this is bloomberg. ♪ shery: wall street ceos kept their cool in the face of pointed questions for mel's committee lawmakers on thursday discussing everything from overdraft penalties to try to's increasing economic dominance to the challenges facing the financial industry. >> what do you see as the greatest threat to our financial system right now? enter your company as well? >> public policy not being properly executed in the united states of america, which means not being able to take leadership roles. >> ok, what does that mean exactly? >> i think we have done public policy not particularly well. infrastructure, integration, health care, taxation, we have stifled the formation of small business. if we do not get our academic act together we will not be a leader in 20 years. >> mr. gorman. sh

haslinda: let's get to first word news with vonnie quinn in new york. ie: president joe biden has opened the possibility as a way forward for a vision for a better america. breaking proposals into multiple bills. republicans are not on board. the biden american families plan the calls for tax increases on the wealthy. there is support for some parts of his. infrastructure focused jobs plan biden says he sees bipartisan support but corporations need to do their part. president biden: i'm not anticorporate but is about time they start making their fair choice. it is about making a choice. you have 50 corporations making $40 billion and did not pay a single penny in taxes. not a single penny. i'm not punishing anybody. everybody should ship in. everybody should pay something -- everybody should chip in. >> the united kingdom pushed back what they called russian violations of the global order. the crackdown on leaders in singeing province -- the russ ian opposition figure alexei navalny. the u.s. secretary of state and the u.k. foreign secretary said he unit

now vonnie quinn with the first word headlines. vonnie: the u.s. committee says it is confident current safety measures will allow team usa to compete safely at the tokyo olympics. the state department issued an advisory urging americans not to travel to japan over virus concerned. tokyo with other prefectures under a state of emergency with two months to the start of the games. in thailand health officials increased the length of time between the first and second dose of the astrazeneca vaccine from 10 weeks to six weeks to allow more shots for more people as the kingdom reels with its biggest front buyers outbreak. dutch biggest coronavirus outbreak. singapore -- singapore says the airport will separate staff handling incoming and outgoing travelers into zones. new measures are set to take effect by june 13. at an airport, a virus cluster group 2108 cases -- to 108 cases as of sunday. new york mayor de blasio says students will return to school buildings in september at a remote option will not be available. he says reopening the largest school s

let's get to vonnie quinn. karina: -- vonnie: modernity says it's booster gives extra protection in vaccinations in brazil. one is against the south african strain. the drugmakers that is worried about new variants emerging from india. >> just as the state is going to be coming out, we are seeing strength in india that is even more ominous than the south african one. how is that going to care against the new boosters? and if people think we are going to be stuck in this battle for a long time, we are, but at least now we have something to deal with it. >> donald trump remains banned from posting on facebook. the content oversight board announced a binding ruling and said it will review the ban in six months. the former president called the decision a total disgrace and embarrassment. trump also remains banned on twitter. the fcc chairman send his strongest signal yet that stronger rules could be introduced up of the gamestop trading frenzy this year. he says apps like robinhood exploit game-like features that ke

i'm vonnie quinn.omberg. sheri: markets are avoiding api data coming up with prices expected to accelerate in april. we will discuss with our next guest, global head of strategy. it always -- it's always great to have you with us. charts on the bloomberg are showing that the five year break has talked -- topped the 2008 hi and now the 2006 high. some said back in march when we saw the spike in yields that perhaps it was a little bit overdone. but so much has happened in the past five weeks, including supply change disruptions and commodity prices as well. >> exactly. i think you hit the nail on the head. it is all about inflation expectations which makes tomorrow's data extremely important. we may start to talk about fedex a bit. but what we are hearing from the fed is that they also expect this pickup in inflation largely driven by reopening demand supply change disruptions. they don't want to extrapolate from tomorrow's number, but the market is forward-looking, right? they will look at good inflatio

i'm vonnie quinn with the first word headlines.ury secretary janet yellen clarified she was not recommending interest rate increases when discussing the impact of fiscal spending. she also said she does not anticipate persistent higher inflation. she set off a few hiccups in financial markets after saying in an interview the biden administration spending may trigger a rise in interest rates. >> it may be that interest rates will have to rise somewhat to make sure that our economy does not overheat even though the additional spending is relatively small relative to the size of the economy, so it could cause some very modest increases in interest rates to get that reallocation. vonnie: president joe biden says he hopes and expects to meet with the russian president vladimir putin during his visit to europe next month. the president is working on scheduling a meeting. biden proposed a meeting in a third country. biden is set to travel in june to the u.k. and belgium. the u.k. prime minister boris johnson says a new era has begun in u.

i'm vonnie quinn. this is bloomberg.ead, jd.com's delivery arm is seeking to raise as much as 3.4 billion dollars in a hong kong ipo, the second largest listing in the city this year. we will get more details later. but first taiwan is racing to contain its worst outbreak of the coronavirus while avoiding a full lockdown. this is bloomberg. ♪ shery: singapore and taiwan are tightening social distancing measurements in a bid to stamp out a flareup in cases. both locations have been seen as poster children for covid control success. our colleague joins us from singapore. start where you are. how bad is the situation? reporter: it is quite bad. it shows how difficult it is to remain virus free. how difficult it is to open your economy. we have 38 cases in singapore on sunday. that is the highest number in more than a year. adding to the more than 20 cases we saw on saturday. what is really worrying is the fact that we have found the indian variant and some of these cases and also in cases unlike two other clusters, meaning

let's get to the first word news with vonnie quinn in new york. vonnie: president biden saying he will not allow in action to upend is infrastructure plan. the white house says he will change course if it becomes clear a bipartisan approach is impossible. senate democrats last week and a puzzle from the republicans to shave off $550 million from the original plan. republicans went infrastructure to be confined to highways, planes and airports, as opposed to bidens broader vision? >> the question is whether republicans will meet the efforts the president is showing. it is a sincere effort to move this country forward. the president has been very clear, in action is not an option. vonnie: the u.s. joined e.u. nations in condemning the interception of a brand airplane cleared the plane was forced to land in mesa. local authorities arrested a journalist who had covered protests against belarussian president alexander lukashenko. the flight was eventually allowed to resume. japan is said to plan an extension of its coronavirus state emergency. the measu

we have vonnie quinn in new york. >> president biden has ordered u.s. intelligence to increase efforts to determine the origin of covid-19. he said a report from the intelligence community was divided on whether the virus came from animals or a laboratory. biden says there was not enough information to make an assessment. china says it supports an examination into all early covid cases around the world. beijing's foreign ministry posted on its website that the code must be complete, transparent, and based on facts and should include secret bases and biological labs, but did not elaborate. victoria is entering a seven-day lockdown as a cluster of cases continue to grow. the capital has been bracing for such a move from the state government. health officials have warned infected people have been to dozens of venues in the city. prior to the lockdown, the state had made masks mandatory and imposed limits on gatherings. the taiwanese president says intervention from china blocked an almost done deal with biontech for vaccines. they say the island only deals

let's get you to new york where vonnie quinn has the headlines. >> crypto exchanges view disruptionsaught by heavy trading. coinbase said it was investigating intermittent downtime on its platform. bitcoin plunged 30% wednesday before rallying 35%. benjamin netanyahu says airstrikes in the gaza strip will continue despite calls from president biden to immediately wind down the conflict. he says he is determined to continue military action until plans and security are restored to citizens. they spoke for the fourth time since things broke out between israel and hamas last week. boris johnson discussed eliminating possible tariffs with australia on. the farmers union has warned that the tariffs on beef and lamb imports could put forth farmers out of business. the top infectious diseases advisor says many people are misinterpreting the mask guidance. anthony found she says some people think this is the removal of a mask mandate for everyone, it is not. he says it's an assurance to people who are vaccinated that they can feel safe whether indoors or outdoors. global news 24 hours a day o