he got a little bit of vw. you got the car is what happened? nejra: i know.eone who doesn't even have a driving license. severely below 2019, that is the red headline, so seeing sales revenue significantly below 2019. it is the 2020 deliveries significantly below 2019. that is not going to come as much of a surprise. the take away is that it expects profit to drop severely after fallout from the coronavirus pandemic force factory stoppages . vw had abandoned its earnings outlook earlier this month, so we are getting a little bit of guidance there in terms of the 20, but it is going to avoid the 2020 loss despite a severe hit from the pandemic. quick withs take a around the markets. you just heard the cfo from standard chartered talking about recovery, recovery of north asia. asian markets back in bull territory. aussie dollar, if you want to pay the recovery trade, where do you want to belong? is it in the aussie dollar trade? is rollingitself over. brent manages to eke out a gain of 3.3 percent. rolet across, you have a look at some of the other market cash

we are doing it from inside the bus -- the vw bus because it is a crazy storm outside. we are safe and cozy in here >> it may be hailing >> jimmy: and to be honest the lighting is just as good in here than it is outside. all right, we got a lot of questions from you guys. >> all right >> jimmy: thank you very much. i am going to kind of talk a a little bit louder because it's just really coming down >> it just - >> jimmy: it is. >> it might be hailing right now. >> jimmy: all right, here we go i think it is actually, yeah all right, honey, what were you like when you were the girl's age? so five and six. >> okay, so when i was five or six, kindergarten, my best friend's name was huey and i loved to play and draw and make believe i was really nice. i was very shy and i liked to be kind of left alone. i had a younger brother who was only about a year younger so yes -- he would sort of, you know, wait until i perfectly set up my entire barbie townhouse >> jimmy: was it barbie that you were into -- >> oh, i was into >> jimmy: skipper. >> yeah -- yeah, skipper and you could

i think you saw today the disapartment between the president's jew and his health advisors' vw when heounce it would c.d.c.'s new guidelin when he said that most amerins whe in public should wear a mask then said i'm not gng to do that. he yet to this day is fully t acceptin viewpoints of the medical advisors around him but seems there has been a little bit more acceptance of just hm this can be. among other things, he locked -- looked at the hospital in his own borough of queens, 'em herself hospital and saw the pictures o them being overalled. he's mentioned several timesen a.comer f of his who may have the virus. another thing, he was shown polling by his political sors saying, hey, the public doesn't want a return to business as usual too soon, prematurely fit mea tt the virus really won't be contained. i think that also convinced -- convinced him ton pivot whe it came do this easter idea of returning back toouily. robert: yamiche, how com tted is tpresident based on your reporting to this current reporting? we've seen him zig and zag. what are the people around him, from jared kus

vw reopened this plant in slovakia and it factorory in a n eaeastern g germantown. otother sites will follow soon. bmbmw is the last of t the germn giantsts to reawaken. it hopes to open idled plants next month. the return of workers to production lines like at daimler plus engine factory is crucial not just for the carmakers themselves in the showrooms they supply, it is also essential for the rest of the supply chain which is keen to get back to making parts and making money. but, the return to work is being approached with caution. the protection of our employees is our number one priority, but the focus on keeping distance. we cannot guarantee a half between employees. workers are required to wear face masks. the restrictions apply to both work and rest with socially distant break times the order of the day. the coronavirus pandemic has changed the rules of the game, but this week has seen the return of a key engine of the german economy. brent: coronavirus lockdowns have disrupted supply chains around the world, especially in manufacturing countries like bangla

, 8,000 workers are going back today to begin making vw golfs? >> i thought that was amazing. germany did a lot of things right. i think a lot of places did things right, it's just place to place. i was in favor of the georgia governor doing what he's doing i did not favor certain industries where you can't be safe no matter what. but the idea that if you wear a mask and you practice physical distancing, it's great you're open there's been so much need and pent up demand for things. i do believe that all you have to do is have common sense can you put a mask on and will someone be touching you? can you put a mask on and will the machines be cleaned in the gym? don't stress it, but open it we need america to go back to work but we need masks. we want to go to a store, the person behind there has a mask, you have a mask. it's not too much tos aing it cuts down, it's not perfect, like remdesivir. nothing is perfect until we get a vaccine, but america needs to be open and it needs to be open quickly. i'm not against these guys who want to open it. i'

vw up 8%. airbus up 10%.is is a company that makes sensors, coming out with the numbers and that is a big reward. europe does not have a lot of tech, but i thought i would bring one up given what we are seeing in the united states with concentration in the tech space with names like alphabet. vonnie: in the u.s. we saw a bounce the entire day despite economic data that was phenomenally terrible. s&p, dow, and nasdaq all up. data this morning showed services spending coming to a complete standstill. i will point out the pce was positive 1.8%. the pce deflator, which is what the fed looks like on inflation. i want to point out this data is the first two or three weeks of the lockdown, which meant on for many more weeks. it is just the beginning of the recessionary data. i want to point to gilead sciences. it jumped as much as 10% this morning on were a study would come out showing positive results. we know these studies are piecemeal, they all show one thing and are plenty of questions left answer. of thes sayi

the pandemic has brought sales to a halt at the world's largest automaker and forced vw to shut downes around the world. a bold targetng on cleaner energy. by 2050 the company plans to eliminate all net emissions from its own operations and it wants to get rid of the bulk of greenhouse gases. shells move follows similar steps taken by pp. that is your latest bloomberg business -- taken by bp. that is your latest bloomberg business flash. guy: we are getting numbers from lvmh, the giant luxury stock that will be seen as a benchmark for the rest of the data. well, certainly as a relative basis. i think people will be paying attention to what is happening. the lvmh board is paying for 30% , but the revenue numbers came in at $10.6 billion, that is down 17% on an organic basis. trying to look at the estimate. the revenue range was 10 billion to 11.2 billion. looks to be at the bottom end of the range. the lockdown will hit revenues and earnings. .hat is unsurprising fashion, leather, organic sales down 10%. they need to preserve some of the cash it has and we will continue to monitor som

the car sector is driving a lot of this, despite some numbers that weren't that great from vw.been worse. anyway, we will carry on the market coverage next. this is bloomberg. ♪ ♪ ♪ guy: from london i'm guy johnson, with vonnie and in new york. we are counting you down to the european close on "bloomberg markets." we are higher. we've got a number of industrial stocks doing briefly well in europe -- doing reasonably well in europe. the stoxx 600 up by 1.41%. the autos definitely outperforming. we've got names like volkswagen doing really well. daimler out with results earlier on as well. a surprise fitch downgraded for italy late yesterday. that really cut the market on the hop. we will hopefully talk about the reasons why that happened. and continuing volatility in the price of crude. brent, $23.25. vonnie: let's have a look at what is going on in the u.s. the market is looking for green shoots anywhere and everywhere. we had a continued barrage of company earnings

it's quite obvious you think that's a bit too roes sy of a vw >> i think we're going to get back to normal that's fine. the question is how long does it take i hope it ends uptaking a shorter time but it just can't you're not going to go back to full employment. you're not going to bo back to rehiring every single person we're not going to spend the same amount of money that we did. things are just going to take longer and because of that, you just can't have a v shaped recovery i wish he have right it's impossible for it to happen >> i was going to let you go but joe as a question for you. >> it's important. this is something that's being talked about in the credit markets. could you share your view on the landry's leveraged loan deal from yesterday it seems as though it's over subscri subscribed is this going to restart the demand for the leveraged loan market >> i think what you're seeing in market is every deal that is coming out, the reason they are over subscribed is because you're just priming all the unsecured debt anything that today is three to four times over collateralized ever

he is a moral obligigation to vw this crisis from a humanistic lens, where he has to decarcererating.ll of the health exexperts agre that in a prison setting that is virus,g ground for this decarceratn n is the o only solution to s stopping the e spd of this virus and he has yet to listen to the experts. amy: talk about the problem, .articularly of aging prisonenes close agaging people in prison, those 60 and older, expense health crisis just about evevery day of their lives for yearsrs d decades. substandard healthth care, esespecially is taking its tol's in the new york state prprisons. now comomes this deadly virususo infect people who are most vulnerablele, nonot only in pri, .ut in our s society for governor c cuomo toot address ththis issue witith heah conditioions are j just horrend, for the most part,t, and now wih this deadly virus thahat is goig to have e catastrophic consequencnces -- - you ow, we have to look at this from a humanistic lens,s,ot from a legal perspective, but just lookining at people who are inincarcerated a as human beiei. we're talking about the elders who

so it'sng accepting beijing's vw of taiwan, not only that but taking it and going one step further.ng that's coming from taiwan even with a legitimate question to be investigated and that unfortunately cost us time and probably lives. im>> tucker: it's just shocking that they would do something like that.ob i don't know why this isn't a headline in "the new york times." it was great to see you tonight, i hope you come back. thank you. >> thank you. so a lot of things are happening in response to the pandemic we are living through. one of them is a big push for nationwide mail in voting. why are they telling you that? it could be an invitation for widespread fraud. we will talk about that, next. ♪ announcer: does your home wifi need a boost? it could be as simple as repositioning your wireless gateway. place your xfinity xfi gateway, or your other gateway out in the open, off the floor, and close to where you use your devices most. don't crowd your gateway. avoid other electronic devices. need even more coverage? adding xfi pods may help extend the wifi signal in your home. to get th

plants in spain, portugal, and russia will also restart on the 27th vw says plants in other countries will ramp up production in may. as always, for more coronavirus coverage, head to cnbc.com tyler, back to you >> all right, eric, thank you very much. u.s. airlines, including american, southwest, delta, among others have reached apparently a preliminary agreement with the treasury department for payroll assistance phil lebeau spoke with doug parker, the ceo of american about this and he has the details now. hi, phil >> hi, tyler clearly a much-needed lifeline, not only for american, but all the airlines as they want to keep their payrolls locked in at least through september 30th here's what american will be receiving through the payroll grant. now, we call ate payroll grant actually, 70% of sit a grant of the 5.8 billion americans getting, 4.1 will be getting a grant they don't need to repay the remaining $1.7 billion will be a low-interest loan all of this comes as we're seeing record-low numbers in terms of people who were screened by the tsa at airports around the country yesterd

vw >> reporter: does this have any implication or tell anything about where we are now and perhaps anygestions about how we should be moving rward? >> one of the things that's clear is that this is a highly infectious virus and that many people n't show symptths. makes it even harder to control, but still possible. c there's a lot do to be safer, and the more we do now, the sooner and more safely we can come out. that means boxinit in, doing the testing, isolation, contact tracing, and quarantine that box to get the virus in smaller and smaller clusters and cases so that we can come ot more safely. the longer we wait to do that, the longer we'll have to say inside or the more risky it will be tgo out again. >> rereporter: theas been so much talk about testing but you also talk about conct trang, tracing the contact of the people who have the virus. talk about that. is that, inme cases or in some elements, is that as important, more important as broade testing? >> all four aspects -- testing,a isolation, c tracing, quarantine -- that box, they're all essential. if any coner of that box

questions have been raised about money tha went to people, organizations, businesses that it shouldn't vw do you k the next go round that it's not going to ppen again? >> a lot of this will be enforcement and oversight. i actually justrought a bunch of senators together on a letter of unjust enrichment to figure out what's happening here tbecause there's no dohen this kind of money is going out, you have to have heavy duty oversight and enforcement. sign one was when the president fired the inspectore gneral who had vast experience both in the department of defense and the justice department for major oversight of the money going out. >> woodruff: withthe debate beginning for the next round, we know democrats are pushi for billions for state and local governments. the senate majority leader mitch mcconnell is saying he wants to put the brakes on that. a report today from the congressionaffcongressional bude ioficit this year, $3.7 tri how do you make the case, enator mcconnell talk about haviates declare bankruptcy, how do you make the state and local government?o >> well, let's start bac

vw's cfo saying in a video to staff that the situation is fluid. as boeing and hsbc have slashed or postpone their payouts. that is your bloomberg business flash. alix: thanks so much, viviana. bloomberg radio just had the new york lieutenant governor on, saying that new york needs a lot of help because the budget deficit is going to get hurt so much. state and city tax collectors are taking that hit. a few months ago, we are having minuteslosi -- a few ago, we are having into pelosi and chuck schumer. joining us for more is daniel moran. can you walk us through the crunch cities and states are finding themselves in? reporter: states and cities around the country are starting up due to the shutdown to prevent the spread of the coronavirus. collectates and cities from hotel taxes and fees, highway, bridge and tunnel polls. all of that money has willie been evaporated as people stay in their homes. alix: how much of that is because we've seen a lot of selling within the muni market as investors had to meet margin calls and delever, and how much of th

more talk of reopening whether it's state by state or country by country with germany for instance, vwnufacturing plant there in italy, also preparing reopen >> yeah. i was going to say just enough moment along those fronts to keep investor's attention. i think pulled in that direction, the idea of when things will reopen and maybe we can pull it to the sooner side of the spectrum versus rather than laterer also, just a general relaxation. credit did okay and a sbeez effect where some of the recent winners sold off so boosted the indetection to dex to a new high for this phase and see if there's follow through or if there's some kind of month end action that might change >> jeff, what are your models telling us as to whether we've rebounded too quickly or that we could retest the lows on the s&p 500? >> i don't think we're going to retest the lows. our models called a signal in mid january. they called the buy signal in mid march. they're still on a buy signal. they think the market trades higher into mid to late may then w we're in for a rough spot for a few months according to how th

we have to be ready for that >> your general thinking is we'll get a ford plant reopening, vw doing it, boeing in south carolina next week, but it's going to be a manufacturing bounce >> yes >> more than a service bounce? >> yes manufacturing bounce you look at a cat, you say they cut numbers, cut numbers, i want to buy it. can't be this bad after this i look at pepsico, i think pe i pepsico has had a very good quarter, it's easy for analysts to say their second quarter will be slower. this is as good as it gets i want to take the other side. let cat go up for a bit. cat won't see a flood of oil pepsico is levered to the stay-at-home market, which turns out to be here for good. it's levered to quaker oats, a division i have not heard of other than to be buried for ages now they're back for breakfast levered to soda stream i don't know, when i had soda stream, it went all over my ceiling. you want to go the other way -- let the hedge funds buy cat. what happens on day five when they don't get a flood of orders because they're levered to the permian? so, david, you know the companies tha