i'm vonnie quinn.onald trump has arrived in new york to face the first-ever criminal indictment filed against a former u.s. president. he's planning to plead not guilty to charges tied to his alleged 2016 hush money payment to a porn star. he has bolstered his legal team by hiring a third high-profile attorney who previously defended paul manafort. the u.s. military says the u.s. inspected the chinese spy balloon shot down in february and gathered -- it had gathered intelligence from military sites. nbc news earlier reported that china was able to transmit information from the balloon in real time, but the pentagon says the military took actions to ensure china gained little value from it. u.s. factory activity contracted in march by more than expected, with a closely watched gauge dropping to the lowest level since may 2020. the ism manufacturing pmi decreased to 46.3 p or the data suggest that rising interest rates, growing recession fears and tighter lending fears may be weighing on investments. tim

i vonnie quinn, and this is bloomberg. -- i am vonnie quinn and this is bloomberg. >> still had, the news out of new york as donald trump beefs up his legal team at head of his historic arraignment. >> more analysis in oil prices as opec heads of speculators, the outlook next. stay with us. this is bloomberg. ♪ >> this oil moved i think is temporary, i think it will slip back a bit. but it is not great obviously. >> they broke the glass and if they did not push the panic button, they pushed the percussion button. in the pushed hard. christ if we don't see a slowdown in economic growth issues in the than we have a new constraint in the global economy which could mean that inflation means higher longer. >> inflation will destroy demand and that will feed into recession. but central bankers are still very worried about these kind of inflation expectations. >> this does send a strong signal to the market that they will support prices, support the market, with the shortage in. >> commenting on the open decision to cut out from opec next month, can she -- cken shih. how are you going to na

i'm vonnie quinn.is bloomberg. ♪ paul? >> thanks, vonnie. finland has joined nato officially following russia's invasion of ukraine. bloomberg has more from brussels. reporter: now a double celebration in brussels. the 74th anniversary of nato with a new member. the flag you see behind me, white and blue, that is finland. it becomes a new member to what is the world's biggest military alliance. a historic shift for the country, which now abandons neutrality, to join nato. the president himself said the era of nonmilitary alliance had come to an end and a new era begins today. he addressed foreign policy it comes to finland will not change. the country will still pursue and aspire for peace and stability. this is a historic shift in many ways prompted and accelerated by russia's invasion of ukraine. the question is -- how will russia if at all respond? >> still to come, credit suisse's senior leaders say sorry to the bank's failures as they face shareholders for one final time. our report is next. this

i am vonnie quinn. >> thanks. one bank is set to list. more coming up. we look closer into the failed starship launch and what it means for the mission to mars. this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com >> the fed has been focused on lowering inflation, which is absolutely essential if we want to support a growing economy and rising incomes. >> lowering inflation levels. our next guest says investors should not become complacent about rising prices and should hold detection-inflected assets. joining us now is the -- great to have you with us. which do you have and which do avoid? >> that is a great question. some reaction from markets over the the recent past whenever inflation numbers surprise from the upside, the assets were sold like pr

let's get you to vonnie quinn. s indigenous affairs minister has warned the country apology as global reputation is at a risk ahead of a historic national vote on including first nations people in the constitution. the upcoming referendum seeks to give a political voice to aboriginal people. it's really a opposition party says it will campaign against the move. the indigenous affairs minister says a no vote would reflect terribly on the country. french president emmanuel macron meets with china positives xi jinping after making it clear he opposes moves to decouple from the's second-biggest economy. macron says china can play a big role in ukraine. he is visiting china with easy president ursula von der leyen. taiwan says it spotted a chinese aircraft carrier in at southeastern water additive time on president's meeting with house speaker kevin mccarthy. it's as a detective 14 chinese military aircraft and three navy vessels in areas near the island. it was seen as an early sign as well beijing says our resident mea

i'm vonnie quinn.s bloomberg. ♪ shery: coming up -- france is a listing china has helped to push for peace talks between russia and ukraine. the details, ahead. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh haidi: emmanuel macron doubling down on his recent chatter engagement push and approaching vision with a plan that could lead to talks between russia and ukraine. let's bring in our north asia correspondent, stephen engle, in hong kong. this is interesting, given that they have their own ukraine peace proposal, what are we hearing from macron? >> it also comes on the heels of the brazilian president also going to beijing on talking about supporting some sort of peace effort for russia and ukraine. china has floated its own idea on how to get the parties together. but that was why they dismissed it as too vague and perhaps freezing the battlefield as it is

vonnie quinn. this is bloomberg. rishaad: thanks. get better. let's tell you what we have. india electricity to men in focus as it reaches an all-time high amid a blazing summer good we have a closer look at how the government plans to avoid blackouts. plus, singapore doubling property taxes for foreigners to 60% in a move that is being called draconian. the details are on the way. ♪ oh booking.com, ♪ i'm going to somewhere, anywhere. ♪ ♪ a beach house, a treehouse, ♪ ♪ honestly i don't care ♪ find the perfect vacation rental for you booking.com, booking. yeah. 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. if you wake up thinking about the ma

i am vonnie quinn. this is bloomberg. >> let's get some morning calls.etting lonely up there for equity bowls. >> the s&p 500 has been higher for five of the seven last weeks. but there was a lot of doubt of how long this can last. this tracks the daily returns of the benchmark. outflows as much as $285 million in a single session last week. that was a record. this one saw inflows of about the same amount as well. goldman sachs is seeing a lack of sponsorship for the recent moves high that we have seen for u.s. stocks. the biggest outflows they have seen have been in mutual funds. it indicates the s&p 500 should actually be down about 3% from january 11, but it has been up about 5%. >> a lot of fed speak also do this week. >> a lot of different investors in the market are seeing different outcomes for the fed. if you take a look at this chart, that is the short-term interest rate futures. there price for cuts of 150 basis points from september 2023 until september of next year. we are getting different calls coming through, two are really pitted against

vonnie quinn. vonnie: vacancies at u.s.rs dropped in february to the lowest since made tony first, suggesting a cooling labor demand. the number of american additions decreased to 9.9 million, to 10.6 million from a month earlier. the strength in the job market is a key hurdle for the fed is it helps to bring inflation down to the 2% goal. pakistan's central bank raise the benchmark interest rate to 21% is the nation teeters on the break -- brink of a default. the rate hike is an important state to anchoring inflation expectations around the medium-term target, significant progress is made to reviving the imf's loan program. a major avalanche slammed the indian state killing seven people. the indian army says the search-and-rescue attempt is ongoing. more than a dozen people have been rescued and sent to the hospital. the incident took place on the outskirts of the capital of the himalayan state that borders china's tibet region. global news 24 hours a day on air and on bloomberg quicktake, powered by 2700 journalists and a

i am vonnie quinn. this is bloomberg. haslinda: still ahead, we will get insight into india's oil and petrochemical demand from an industry veteran, who is also the ceo of a refinery. rishaad: plus, a tesla misses on its first-quarter profit estimates after a series of price cuts or details on the way. this is bloomberg. ♪ >> while we reduce prices considerably early in q1, it is worth noting our operating margin remains among the best in the industry. we are taking the view that pushing for higher volumes in a larger fleet is the right choice versus lower volume and higher margin. >> the assumption that people understand, you know, the value proposition of an ev versus a gas car is a bit, you know, naÏve, so that is the part that bothers me that maintaining margins undercurrents pricing -- current pricing strategy seems to be poor, i think. rishaad: the chief executive elon musk on the companies's pricing strategy and reaction from shareholder ross gerber a short while ago after this profit misses. it was down to price c

let's get you to vonnie quinn. rande has come under fire from china post two main exchanges were failing to publish its 2021 earnings. the shanghai stock exchange and jen jen about the biggest stock exchange took this very action by criticizing the major mainland unit of evergrande for the delay. the exchanges said they will notify the chinese securities regular trade commission. a member of the european bank of central governing council says rate hikes have to continue if their latest macro economic outlook remains intact. pablo hernandez also heads up spain's central bank and says the size of the next move will hinge on incoming data and adds ecb policy will depend on how risk related to the recent financial structure -- a of las vegas stress to realize. >> we are monitoring financial situations from these events and we are ready to respond when necessary to maintain price stability. vonnie: officials have vented to taiwan that they may be willing to put out of turn's belt and road initiative. italy's industry dis

i am vonnie quinn.ext, g-7 ministers wrap up their meeting in japan without a solid deadline on new coal investments. we discuss how that might affect global climate objectives. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh shery: speaking at the g-7 in japan. those discussions ended without a deadline to halt new coal investments while noting nations will have various paths to get the net zero. the latest data compiled shows just how much each g7 member nation lags their targets with japan the biggest laggard. let's bring in david can. why is japan trailing? >> in the aftermath of the tragic fukushima nuclear accident in 2011, japan relied heavily on fossil fuel power generation to keep the lights on as well as build lots of new coal and gas power plants. japan did manage to restart 10 reactors in 2011, one third of their total capacity. the also rolled out generous subsidy schemes. even sti

i m vonnie quinn. this bloomberg. haslinda: still ahead, we are counting down to the rbi's great call. here why our guest sees another 25 basis point hike coming before the central bank hits pause. yvonne: first, beijing last the meeting with taiwanese president and the house leader xi jinping pulls out the stops for emmanuel macron in beijing. we dig into this geopolitical tug-of-war next. this is bloomberg. ♪ >> we have never spoken with one voice when it comes from china. we have gone from administration to administration. when i became speaker, we had 146 democrats vote for the select committee. i think that would foster a stronger relationship with china because china would understand where our boundaries are and will not worry about one party saying something. what china needs to understand is they can't dictate who is speaker of the house and who they can meet with. from the same moment that many omicron is sitting down with president xi jinping, i think that is good. i would sit down with president xi jinping.

i'm vonnie quinn. china held its second day of military drills around taiwan with multiple exercises involving aircrafts and ships full topic came after the taiwanese president return from a visit from the u.s. where she met with lawmakers. taiwan said it detected 70 airplanes and warships sunday. the world bank will return to solve the mounting debt of four countries. the world bank president said concrete proposals to address some of the biggest restructuring roadblocks will be introduced at the mobile sovereign debt roundtable. more than half the worlds low income countries are at high rate -- high risk of debt distress or already in it and several have already defaulted. the u.s. health secretary says the biden administration is weighing every option to strike down the quote reckless ruling by a texas joe -- texas -- texas drug -- texas judge over a key drug in abortion. north korea has not responded to regularly held inter-korean phone calls for a third consecutive day. soul and pyongyang typicall

i'm vonnie quinn. according to a report on ftx's debtors, the company lacked fundamental accountability controls. it jokes internally about their losing track of million-dollar assets. their board is the first to release since sam bankman-fried's company collapsed in november. u.s. lawmaker mike gallagher says apple and disney are among u.s. businesses that will face the steepest challenges in a selective decoupling from china. aligarh is the chairman of the house committee focused on u.s.-china competition and met with executives including apple ceo tim cook and disney ceo bob iger to discuss how companies are navigating tensions. bob iger says he does not see a total break from china in the near future. the super mario brothers movie has scored the biggest opening for a movie so far this year. it raked in 146 million dollars in its thomistic debut and a global hall of pre-hundred 78 million dollars. a look at how futures are trading -- the monday session in the u.s. will be the first after the nonfar

shery: let's get to vonnie quinn with the first word headlines. nnie: ubs will reportedly cut as much as 30% of its staff after completing its takeover of credit suisse. a swiss newspaper says the move could affect 11,000 workers in switzerland plus 25,000 more worldwide. swiss prosecutors opened an investigation into the deal area they want cash deal. they want to identify possible crimes leading to the edits we's collapse. beijing is launching a cybersecurity review of mpox -- imports from micron. the federal government wants to ensure the integrity of its information for structured supply-chain citing national security concerns, the latest offensive in the chip or between the world's largest top two economies. about 11% of micron sales come from mainland china. at finish prime minister lost a parliament reelection to a pro business opposition groups area his social democrats fell to third place behind the far right finn's party. orpo declared victory but will have to work with one other blocks to form a government. >> i think the finish people -

>> i'm vonnie quinn. -- has taken the helm of the bank of japan. ueda, the first boj governor change in a decade. what do we know so far? >> yes, it is a momentous day for japanese central banking. ueda era has now started. we are working to see what he says in his inaugural press event later today, but so far, he has said that he wants monetary easing to continue. his stance is that everything should be data-dependent. right now, we are not expecting major surprises of the sort that kuroda had dealt. from u we are expecting a cautious start. -- from ueda. >> not a huge amount of trading. is there anything he could say today that would surprise the market? >> one thing that could happen is a meeting between ueda and the prime minister. that is something that happens quite often between a new boj governor. and it is something that we're watching. whether there could be any comment about the joint statement between the government and the boj. if there is any sort of comment that is surprising, that could potentially be market moving or have implicati

let's now get to vonnie quinn. vonnie: vladimir putin has praised ties between the militaries of russia and china during a meeting with a top official from beijing. the chinese defense minister's visit to moscow comes a month after president xi jinping's. state media says he also plans to meet with his russian counterpart and visit military institutions. china has become russia's biggest supporter since the invasion of ukraine. india says it could by russian crude near are past the g7 price cap of $60 a barrel if costs continue to rise due to supply cuts. the finance minister told bloomberg the priority is getting enough fuel for the population of 1.4 billion people. india imports about 80% of its crude and russia is now its top supplier head of a rack and saudi arabia. >> we have a large population. and we also therefore have to look at prices which are going to be affordable for us. otherwise, i will be ending up paying far more than what i can afford. vonnie: thailand's main opposition party remains the top choic

i am vonnie quinn, this is bloomberg.ion s guest says south korea's president will need economic deliverables from his visit to the u.s. and expects to be cautious of public statements around china. the policy institute vice president joins us now from washington. i was good to see you. we know president biden has rolled out the red carpet for president yoon. what sort of economic achievements do they need to take back home in order to really raise the standing? >> that is a great question. president yoon is coming to the states with low popularity unions -- ratings in korea. and they're not getting enough from japan from the bilateral agreements that were reached. the pressure is on you to be able to demonstrate that he got something out of this visit. i don't want to underestimate because the state visit is a big deal. this is only the second state visit president biden has hosted. he will need deliverables on the economic and security side and based on the joint statement that was just issued about one hour ago, it see

let's get to vonnie quinn with first word headlines. vonnie: ubs will reportedly cut as much as 30% of staff after completing its takeover of credit suisse. a swiss newspaper says the move could affect 11,000 workers in switzerland plus 25,000 more worldwide. a separate development, swiss prosecutors opened an investigation into the deal. i want to identify possible crimes leading up to the credit suisse collapse. former u.s. president donald trump is planning to plead not guilty to charges stemming from his hush money payment to a porn star during the 2016 election campaign. his lawyer told cnn the payments were previously investigated by the federal election commission and justice department and they found no violations. trump will be arraigned in new york tuesday. beijing is launching a cybersecurity review of imports from micron, america's largest chip taker. the chinese government wants to ensure the integrity of its information infrastructure supply chain citing national security concerns. the latest offensive in the chipboard betw

let's get to the first word news with vonnie quinn in new york. : opec+ announced a cut of one million barrels per day. the price reaction could add to inflationary pressures, forcing central banks to keep interest rates higher for longer. the white house responded by calling the cut bill-advised. confidence among japan's large manufacturers worsened for a fifth straight quarter. the survey sentiment plunged to one in march from seven previously, the weakest in two years, supporting views that the incoming central bank governor because what weight will maintain ultra easy money polics lost a parliamentary election. her party held the far right party. the party leader has declared victory but will have to run with one of the other bloc's to form a government. >> finish people want to change. now i will open negotiations with all parties. the crucial issue is the economy, we have to fix our economy. vonnie: china is reportedly ready to work with malaysia and other southeast asian nations for a south china sea code of conduct. state media says beijing

let's get over to vonnie quinn. ident xi jinping's spoke it with ukrain'' because of volodymyr zelenskyy for the first time since russian's invasion began. readouts of the call suggested there were no major breakthroughs, though president zelenskyy' s office as the hour-long conversation was productive. xi told zelenskyy that negotiations are the only way out of the crisis. at the less house has passed a debt limit deal aimed at averting a catastrophic default in a political victory for speaker mccarthy. it puts pressure on president biden: along with congressional democrats opposes the legislation because it contains sweeping spending cuts as a condition. failure to reach a compromise will lead the u.s. heading toward a federal women's default. >> we pass this. we are way ahead of the debt limit. we just passed the bill. it is not our job to modify. the senate can pass our bill. otherwise, we have done our job. vonnie: u.s. regulators are weighing the prospect of downgrading their assessments of first republic bank.

let's get over to a vonnie quinn. >> fox news has rate to settle a voting machine makers a defamationawsuit over the 2020 presidential elections. dominion voting systems says a network agreed to pay $787 million, half of what it had claim. dominion accused fox of airing a bogus claims that had raked the election against donald trump eared fox argued its broadcasts were protected as free speech under the first amendment. treasury secretary janet yellen is set to deliver speech on economic relations with china. her remarks are scheduled on thursday and washington ahead of the planned trip to beijing. ties between the two countries have been frayed over taiwan, spying allegations, technology security, and russia's invasion of ukraine. g-7 countries have vowed to support ukraine for as long as it takes in its fight against russian forces. it follows a meeting of top g7 double nasa japan who reiterated support for the plan. the ministers goal for greater engagement with china to stabilize relations and urged a peaceful resolution of taiwan related issues. french president emmanuel of seeki

i'm vonnie quinn. this is bloomberg. shery: still ahead, more from our interview with thailand's opposition party leader. he tells us how he plans to reclaim what he calls the countries lost decade. first the bank of japan officials are said to be wary of tweaking or scrapping yield curve controls, details of our exclusive story, next. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh >> it is likely we will see at least one more, possibly two more rate increases. that gets you to high-five, 6% interest rate. whether it is a moderate recession or if we dodge the bullet. it does not matter much. what matters is if inflation is tamed. you have to go much higher, and into a deeper recession. shery: james gorman talking about his expectations from the fed and impact

i am vonnie quinn.oomberg. >> still had this hour, we will get analysis of india's consumer sector from bay capital investment advisors. that is coming your way next. this is bloomberg. >> u.s. futures getting further into the red now. that is not exactly a cause for optimism here at the moment. we are looking at j.p. morgan's story coming out. they said they should be cautious and defensive strategies. they are looking into the fed emergency lending program that has reduced volatility as well as rates. the u.s. recession has not been priced in yet. he is looking like this at the moment. that is why in the gap between wages on the bond market direction there. underscored by trades from goldman sachs. they're pricing in rate cuts to aggressively. talking of banks >> that's right, let's get to the latest on u.s. bank earnings. goldman sachs surprising investors as traders failed to capitalize on the fixed income. the co said -- coo said the rest of the volatility is over. >> the rest of the volatility is

let's get the first word news with vonnie quinn in new york. land fed president's signaling support for another intrastate hike to cool inflation. she also applied need to watch recent stress in the banking sector that could weigh on credit. masters has the fed is closer to the end than the beginning of its tightening cycle. >> the monetary policy will need to move somewhat further into restrictive territory this year. the fed funds rate moving above 5%, and the real fed funds rate staying in peasant -- positive territory for sometime. precisely how much higher it will need to go from here, and for how long policy will into remain restrictive, will depend on economic and financial development. vonnie: the japanese prime minister is planning to raise the sales tax rate to fund childcare and defense measures. he had vowed to double spending on children to reverse japan's declining birthrate. kishida says discussions regarding funding are ongoing. montenegro prosecutors filed an indictment for terraform labs co-founder go con -- do kwon and his cfo

i'm vonnie quinn and this is bloomberg. david: this is my kitchen table and also my filing system. over much of the past three decades i have been an investor. the highest calling of mankind i've often thought is private equity. and then i started interviewing. i watched your interviews so i know how to do some interviewing. i learned in doing my interviews how leaders make it to the top. >> i asked him how much he wanted. he said 250. i said fine. i did no due diligence. david: i have something i would like to sell. and how they stay there. you don't feel inadequate being only the second wealthiest man in the world. is that right? i am here with sheikh hamad bin jassim bin jaber al thani, who is the former prime minister of qatar. and we are in his home in doha. thank you for having us here. hamad: pleasure, david. david: for 20 years you were the foreign minister of qatar and for another six plus years you were simultaneously the prime minister. is it a pleasant situation where you don't have to worry about all those problems anymore or did you love those jobs so much you wish yo

vonnie quinn is with us now. nnie: it took the shine off the good news because what happened was that shares popped 12% post market when it said its earnings growth and clouds division was very strong in q1, but then on the coal, we saw that pop disappear completely when executives said in april they saw a 500 basis point decrease in that revenue growth. that is 5%, a shocking decrease in just one month alone. some of the other things amazon pointed to was that it is on track to return to pre-pandemic profit margins, but the operating margin in q1 still at 1.2%, well off of the 4% to 6% profit margins we have seen in the pre-pandemic days. some good and bad news. it did also say international revenue growth is improving, which is good for x u.s. investors. yvonne: and intel seemed to be showing signs of improvement, especially what they are thinking about in the second half. vonnie: again a mixed picture. some green shoots of recovery. a little further out, more like the second half of the year. for amazon, we are

i'm vonnie quinn this is bloomberg. david: this is, uh, my kitchen table, and it is also my filing system. over much of the past three decades, i've been an investor. the highest calling of mankind, i've often thought, was private equity. [laughter] and then i started interviewing. i watched your interviews, so i know how to do some interviewing. [laughter] i've learned from doing my interviews how leaders make it to the top. jeff: i asked him how much he wanted. he said 250. i said fine. i didn't negotiate with him. i did no due diligence. david: i have something i would like to sell. [laughter] and how they stay there. you don't feel inadequate now because being only the second wealthiest man in the world, is that right? [laughter] a major trailblazer in the financial system is jane fraser. two years ago she became the first leader of city. city other major banks in the states are facing challenges to the banking system. i sat down with her to talk about these and other challenges. anything new in the banking world? [

i am vonnie quinn. this is bloomberg. ♪ david: this is my kitchen table, and also my filing system.ver much of the past three decades, i have been an investor. the highest calling of mankind, i have often thought, was private equity. and then i started interviewing. >> i watched your interview so i know how to do anything. david: i learned from doing my interviews how leaders make it to the top. jeff: i asked him how much he wanted. he said 250, i said fine. i did not negotiate with them. i did no due diligence. david: i have something i would like to sell you. [laughter] david: and how they stay there. you do not feel inadequate being the second wealthiest man in the world, is that right? david: one of the most important decision-makers on economic policy is the chairman of the federal reserve board. i recently sat down with jay powell to talk about interest rates, inflation and the overall economy. thank you so much for being here. why don't we start with an easy question? you made a speech last week, commenting on the fomc's decision to raise the fed's discount rate by a small am

let's bring in vonnie quinn. as someone was saying, it's the worst of both worlds. nnie: it could be. we got initial indications that what you just said might be the case. pce deflator data showed 4.9% increase in prices in the first quarter. q1 gdp data showed a slowdown of more than was anticipated. gdp in the first quarter when economist were looking for 1.9% rate. we should look deeper because underneath the surface it may not be as weak as that in terms of gdp data. for example, some components -- it is good that they slowed down. we had two and a quarter percent lopped off the gdp data just by inventories alone but it's a good thing inventories were drawn down because companies might have to invest again. it depends on whether the consumer spends and we will get more data friday in the economic data coming out on friday for results spending and consumption. so far, it looks like consumers did keep spending in quarter one even though the rate of spending might have slowed down toward the end of the quarter. paul: consumer sentiment appears to be holding up. as d

i'm vonnie quinn. this is bloomberg. ♪ david: this is my kitchen table, and also my filing system.ver much the past three decades, i have been an investor. the highest calling of mankind i have often thought was private equity. and then i started interviewing. i learned how leaders make it to the top. jeff: i asked him how much he wanted. he said 250, i said fine. i did not negotiate with them. i did no due diligence. david: i have something i would like to sell you. [laughter] david: and how they stay there. you don't feel inadequate being the second wealthiest man in the world? a♪ david: currently, there are only two fortune 500 companies that are run by african-american women. one of those women is rosalind brewer, who is running walgreens boots alliance. the well-known pharmacy train. i sat down with rosalind to understand how she is transforming the company to one that offers additional health care services to its customers. i have noticed that walgreens and another company thata™s also in the drug store area, a competitor of yours, both of you seem to be interested in being i

i'm vonnie quinn and this is bloomberg. shery: time now for morning calls. we are seeing u.s.es pointing to modest gains as investors debate what to expect from the first quarter earnings season. annabelle joins us from hong kong. could this finally be the low point for profits from s&p 500 companies? annabelle: that is the big debate of course in the markets, how deep is any sort of recession likely to be, when will the fed be ending his tightening cycle. with the bulls are saying this will mark the low point and the equity rally can continue. others are more sanguine on the outlook. they say yes, perhaps we could see another late high, but that is not their base case. they say their we more cautious outlooks coming through in the earnings calls. we have still not seen the full effects of the fed's tightening. lots of different key areas for investors to be looking out for an one of them will come down to sales versus margins. this chart here taking a look at the outlook for global stocks. you can see on a 12 month basis, forward sales estimates are still tracking higher, but

. >> i'm vonnie quinn. -- has taken the helm of the bank of japan. boj governor change in a decade. what do we kno

shery: let's get over to vonnie quinn with the first word headlines. vonnie: china is planning to carry out a string of military drills in the waters of is east coast and in the south china sea. this comes amid tensions with taiwan and the u.s.. a statement by chinese officials warns of military activity near the port city until noon on tuesday. the u.s. and philippines are holding military exercises through next week. the bbo seat says it will assure that rates are appropriate to maintain the stability of the banking sector. interest-rate risks need to serious attention as china draws a lesson from the beat -- recent u.s. turmoil. inflation will pick up in the coming months, slower consumer prices trigger worries. canada's police force is investing in a heist at the airport, the royal canadian mounted police say they are looking into a gold robbery. gold mined in canada can travel through the airport honestly to customers around the world. space x's attempts to send us -- a rocket into space ended in a blast. the launch was crucial for a starship and m

vonnie quinn is in new york with the first word news. oc governor says beijing has largely entered regular foreign exchange intervention as it pursues a policy and enhancing the ease-of-use of the u.n. for chinese households. speaking in washington over the weekend he says officials still reserve the right to intervene in the market. >> if you have right monetary policy and then i think you make sure the exchange rate is -- the central bank intervene as less as possible. gradually to phase out our intervention to the market. again at this time i have not -- we have no intervention. vonnie: india says they could buy russian crude near or past the g7 price cap of $50 a barrel if costs continue to rise due to supply cuts. finance minister told bloomberg the priority is getting enough fuel for the population of 1.4 billion. india imports about 80% of its crude. russia is now its top supplier ahead of iraq and saudi arabia. >> we have a large population. and we also therefore have to look at prices which are going to be affordable for us. othe

vonnie quinn has your first word news. vonnie: a u.s. terraform labs and the founder to block regulators from requesting documents from their counterparts in singapore. it is not clear what records are being sought but terraform was based on the city state. he was arrested in month negra last month. the hong kong exchange is planning to make listed companies reveal more about their climate-related risks. they will have to reveal transmission plans and elaborate on the risks and opportunities presented by climate change. it seeks to align the market with rules being developed by the international sustainability standards board. alisha is reportedly revaluing a 2020 agreement with coleman sex -- with goldman sachs. the settlement is -- the deal by the previous government asked old men to pay $2.5 billion and guarantee the return of 1.4 billion dollars of 1mdb assets. kuwait's leadership has decided to once again disband. the parliament was first dissolved last year and a new one elected in september. results of that vote where an old. the

." >> good evening, i vonnie quinn. the top stories is over, uso speaker kevin mccarthy says the house will as the debt ceiling increase by this week calling on president joe biden to negotiate two devoid -- to avoid a default. haidi: china trailing -- vonnie: wj report planning to review policies taking over the past decade as officials meet this week under the new governor. haidi: let's look at how markets are shaping up. it is a holiday disrupted trading week or australia as we get set for a public holiday on tuesday. we are watching a tepid start to the week. evaluations particularly when it comes to the tech sector, questions as to whether we are seeing the exuberance a bit overblown, and we are also seeing some rethinking when it comes to earnings expectations now that we have had 25 percent of the s&p 500 reporting at 80% topping expectations. there is a revision when it comes to potential upside for a number of these stocks. this is what we are seeing when it comes to broader risk assets that we are watching. do

shery: bloombergs vonnie quinn with the latest on the economy.et's get to annabelle droulers in hong kong with a check of how we are setting up for annabelle: jobless claims and what it means for the fed, these have typically been closely events for the market. we are seeing that investors are starting to be more sanguine about the outlook and less stressed as well. because when you look at the 1-day fear gauge, you can see that federation there. yes, the gauge has been guarded, but it does offer some interesting insights into investor psychology. you can see the spikes in the past year or so. december 12, that was just ahead of the inflation. and we were at the 47 level. compared to where we are now at 1500 that's means traders are saying we have much more uncertainty on the outlook. yes, there is an expectation we could be higher for longer, but that is baked into the pricing at the moment. when you take a look at the session today in asia, we will be very much driven by the big tech earnings on wall street. very strong session overnight. that