manus: -- do not be runover. manus: have you tapped any credit lines? tapis caused you to have to credit lines on a scale that is available to you? sebastien: we have 1.2 billion euros credit line that we have not drawn. peers, wese, like my have been getting release from the financial holders, trying to .et relief on the 2020 covenant that has been obtained. if we were to draw on the line, we have the ability to do it. nejra: in previous interviews, you have said as well that you don't think you will need french government help. but is that something you would rule out if things took a turn for the worse? sebastien: in today's circumstances, i don't roll out -- i don't rule out anything. measures get as much as you can from your local government heads, agencies, you make the tough decisions on trying to cut costs. ton, you basically make sure prepare for the rebound. it will happen. the only thing we don't know is when. industry inhe hotel am medium to long-term, i not preparing for the rebound as of yet, but i am thinking about it. in the meantime, be

i'm nejra cehic in london with manus cranny in dubai. president trump and mike pence says there are signs the coronavirus in the u.s. is beginning to level off. hence said we are beginning to see the glimmer of progress. cases and hospitalizations are beginning to stabilize. new york state reported its first decline in daily deaths, 500 94 people with coronavirus died on sunday, fewer than the 630 reported on saturday. has had more than 4100 fatalities so far but the death toll across america could fall well short of recent estimates according to bill gates, especially if social distancing measures are done properly. the billionaire is calling for a national lockdown to control the spread to avoid a worse case scenario. for more, bloombergs annmarie hordern joins us from new york. please seen some optimism out of the state and have the u.s. surgeon general jerome adams saying the country faces a very comparingiod this moment to 9/11 or pearl harbor. where are we right now? mixedie: we are seeing a picture. one thing we should note is on

this is bloomberg. ♪ manus: i'm manus cranny. nejra cehic is in london, our guest is group ceo of ubs sergio ermotti. we talk about good and bad volatility. upee the equity business is by 18%, but what does volatility mean for clients and businesses? are they clash? -- clashing? sergio: he generally, volatility at this stage is supporting thents engaging into necessity of options and capturing options premiums through structural products but from an asset allocation volatility high means a lot of uncertainty and as long as we have high volatility across assets, it is atficult for clients to look strategic asset allocations. israll, some volatility helpful, but too much, over time, it may put clients off investment decisions. manus: is that pushing them toward cash, raising their cash balances? are you actively encouraging more cash and risk off? sergio: i think we are encouraging diversification. there are some interesting opportunities on how to deploy cash, but on the credit side of the equation, when you look at high-grade, in

it is manus in dubai. jim: i can hear you. manus: ok. we will fix the side issues. in the meantime, we will take you through a little bit of what's going on in the markets. i think the risk of a lingering and return to a rolling lockdown, let's check in on the markets. here you go. this is what we have for you in terms of the equity market this morning. trying to absorb the implosion of 3% in global growth in this year. to imf warned -- think back 2009. that was a contraction of 0.1%. economyey say that the will grow by 5.8%. nejra? nejra: it's really interesting. one thing that i would comment as well as that there is a great story on the bloomberg talking about the fact that investors and traders seem to ignoring a lot of the data and actually just focusing on the potential rebound at the end of all of this. jim mccormick is with us. i hope you can year me. i want to put that question to you. you point out in your latest notes the divergence between growth assets and the global compass it pmi. is this a market that is looking through bad data and focusing on the r

manus. dalio coming up, ray thinks there are better assets to holla bend cash. rates low and respond to the coronavirus pandemic. that is coming up. this is bloomberg. ♪ manus: particularly those that will increase in value during reflationary periods. us.guest joins you do not believe in all the conditions for a sustained equity market are in place yet. turn to howard. he is talking about credit and he said cautious positioning has served its purpose. waiting for a market bottom is irrational. between you and howard, what do you need to see? >> in order to have an improved sentiment, we will need to see two things. first that the measures regarding the epidemic are know,g well, so as, you today is today that in wuhan, they are starting to reopen, so we need to monitor quite closely what is happening in asia to make sure there is not a second there and wemic also need to see a continuation of improvement in the curves of the epidemic in europe and the united states. the second thing that w

♪ good morning from europe, i'm nejra cehic with manus cranny. a top health official said up to 200,000 americans are projected to die. donald trump says to brace for the pain ahead. imminenter route is because of new lows for the is and p 500, however mark said asset prices haven't seen the worst of it yet. in a slump in hong kong after scrapping dividends amid pmi data for asia showing contraction across the region. welcome to "bloomberg daybreak: europe." a trifecta of investors saying the worst is yet to come. u.s. and european futures also declining after the worst quarter for global equity since the financial crisis. the 10-year gilts slipping, seeing a little bit of dollar strength. we saw that lifeline from the fed to help ease some of the liquidity strains. oil fluctuating a little bit with talks about this -- discussions with saudi arabia and russia. manus: can you imagine what a deal with them might looks -- might look like. this talk about donald trump, his call for a $2 trillion infrastructure spending bill, saying that low rates wou

manus: to do whatever it takes. morning toost this set you up for this week's trading and central banks. deutsche bank generated more revenue than expected in q1. the german lender posting a surprise profit of just over 250 billion euros. they said they temporarily dipped below the key target, the cet1 ratio. the report suggests the bank may have benefited from a research and amid volatility. -- thee warning that chief says that it needs to quickly cut costs to adapt to a radically shrinking -- airline customers unable to accept new deliveries. airbus is reassessing outlook. softbank's buyback is helping investors ignore the tech giant's profit head. for its flagship fund. month, they boosted the size of plan repurchases by around $3 billion. that is your business flash from bloomberg. nejra: coming up, crude piles up as global oil producers begin production cuts. more on that next. this is bloomberg. ♪ it is "daybreak: europe." sub $15.arkets, wti global crude stockpiles have made it more difficult for leading pr

this is bloomberg. ♪ manus: i'm manus cranny in dubai. they rich a hitch alongside me in london. the french bank has delivered a swing to a net loss in this quarter. over 320 million euros. i take your mind back to a year ago. i'm having a little terminal trouble. first quarter nest loss, 326 million euros. they lost as much as we understand. we have a red headline the other day. they lost as much as 200 million euros during the virus. what did that come from? the underlying return in equity down by 0.1%. a year ago, they made 686 million euros. let's move it along and talk about the fed. jay powell voiced concern that the coronavirus crisis could leave permanent scars on the u.s. economy. all stripes need to do more, stand up and be counted in terms of limiting the damage. that was the sobering teleconference. the virus will be far from over, even if the economy begins to recover in the third quarter. the deep dive that we are seeing is the worst since the great depression. let's take a listen. >> congress has also reacted quite aggressively and strongly with the cares act. and

manus cranny in dubai. germany's ruling condition with of package to dampen the further economic impact of the coronavirus. the european commission is floating a 2 trillion euro plan of economic recovery ahead of talks between e.u. leaders today. the plan involves tapping the market for 320 billion euros and will partially use the existing seven your budget and the contentious rate over the rescue package, the ecb said they would accept some junk rated debt as collateral for loans to banks. the move to shield her euro area's most vulnerable economies as they face the risk of credit downgrades. and we get that s&p rating on friday. coming up, president trump says georgia is reopening soon after his executive order suspending u.s. immigration. ♪ awesome internet. it's more than just fast. it keeps all your devices running smoothly. with built-in security that protects your kids... ...no matter what they're up to. it protects your info... ...and gives you 24/7 peace of mind... ...that if it's connected, it's

manus: run us through the numbers. thatre deeply suspicious we have not run out of space at cushing. parabolicy then this implosion and the numbers on storage. harry: the argument for storage is a good one. the only thing we are concerned about is that we did not see the movement in the time spread so the shape of the curve between the june and july contract -- we did not see a move in that spread towards a spread between may and june. essentially, the level of co-mingle was simply not reflected in the next set of price differences. we should have seen june discount a lot more. in effect, we have not reached y.orage capacit it does not mean that we won't. it leaves us with a liquidity problem. people long oil are desperate to get out of position. he unraveled, they had to discount their offers to the point of getting into negative prices. essentially paying someone not to be long oil by the time the contract expires. you would have to take physical delivery at cushing if that was the case. nejra: it is really interesti

manus: a whole new era. a whole new set of rules. the european commission executive vice president spoke exclusively to bloomberg and we asked her about the potential for corrugated a for european airlines, protecting businesses that have been impacted by the coronavirus pandemic. take a listen. lot on howds quite a long this will take. the first wave of measures created an enormous amount of liquidity made available. later,be so that recapitalization may be needed. here we are just consulting on common european framework, if that is needed, in order to make sure that if member states would want to recapitalize businesses, it is done in the same way that we maintain a level playing field. that we try to limit the distortion of competition. we've had quite positive response to that with member states. it will take some days before we are ready to launch yet. >> did you turn a few heads a few days ago? you advocated for the states taking stakes in companies in order to keep china from taking over some of those companies. is that how yo

manus: warm welcome to the show. we are deep in earnings season novell.a-cola to the first quarter comes in like this. $2.06 billion. that is a beat. on the operating income side, 214 million dollars. significants have a impact in the second quarter. that is what we already know. first quarter results show a 31% uplift in profitability. nobel. akzo you have the input side and the output side. inputs are going to trickle down . what do you have? good morning. ericsson saying there is no reason to change its target for 2020 and 2022. that's one of the lines from erickson. ,t sees the 2020 market growth lower growth in the second quarter. in terms of the first quarter, 49.8 billion swedish krona, a miss on the estimate of 51.94, but there was some expectation the virus boost for more telecom equipment might materialize later. first quarter growth margin at 14.4%. first quarter adjusted estimating profit at four point 6 billion swedish krona. it is concerned 5g investments in europe are delayed. that is an interesting li

take your business beyond. ♪ manus: good morning. i am manus cranny from to buy. nejra cehic alongside me in london. your top stories. a mixed picture for global stocks amid signs that coronavirus infection rates are slowing in some nations. oil extends losses. china pledges more stimulus. another jump in daily deaths. on. leaders say an agreement new aid is closed. u.k. prime minister boris johnson defends his handling of the crisis. in phillips plans to build ventilators to reduce shortages. the ceo, frans van houten, joins us shortly. nejra: welcome to "daybreak: europe." wer the weekend in the u.s., really started to see even more the politicization of the pandemic. both down bipartisan lines but also with regards to president trump's's comments on china. the majority of americans say they do not want to rush the return to normality as they consider how to ease the lockdown measures. we have gotus: frans van houten standing by. is numbers come through. .he top line is cash comparable sales declined by 2.3%. the estimate was for a drop of 1.2%. let's get to the

this is bloomberg. ♪ ♪ manus: this is "bloomberg daybreak: europe." i'm manus cranny in dubai. london.hic is in a red headline, china is to start buying oil. we know the storage bins are getting pretty full, could run out of storage by may, and that would take oil comfortably below $20 according to bank of america. extendednd italy have lockdown measures until after easter, and spain reported its deadliest day yet with 864 fatalities and confirmed cases topping 126,000. german chancellor angela merkel said infection rates had gone down slightly but cautioned it is too early to relax strict rules on public interaction. she also said working with german auto officials to find a way to restart assembly lines, there are concerns some cash- strapped -- may not survive the pandemic, which would spell disaster to the country's fine tuned and supply chain when it comes to restarting operations whenever that is. it comes as european leaders still struggle to come up with a joint response to counter the economic impact of the virus, with competing visions from france and the netherlands.

manus: ok. when we last spoke just a couple of weeks ago, we spoke about credit, and you said management do youcredit spread -- see that still as the case, and where in credit would you be ingesting the opportunity? sergio: first of all, i think there is still some value to be picked up in selective situations, but if you look at it today, there is a better risk , because i think areably credit in markets more critical or more realistic -- how quicklyly the recovery can materialize. in that sense, we continue to ,ee more opportunities particularly in the u.s. with high-yield and investment grades, and to some extent in emergent markets, sovereign debt. manus: when you look at the fed policy response, sergio, do you -- are wethat as there yet with the fed? as io: well, right now, mentioned last time, i think at the fed in general, policymakers and central banks have done a great job in stepping in, not only stabilizing but also stimulating to the extent that they can at this stage of the economy

manus: the biggest global volatility markets seem to be in the oil markets. we are going to show viewers a chart. the relationship between the s&p the highest in six weeks, and then you have the bloomberg commodity index, the lowest since 1974. my question to you is this -- the markets seem as if we will press again on the dime side -- the downside on oil, and that has huge consequences, doesn't it? >> you know, it does. last week when we did see oil , it. -- oil prices move could not have brought closer to home how much the devastation of economic activity has been. of course, there's supply issues and the technical squeezes we saw, but, you know, world is to what the facing, which is as long as you have demand structures, this will continue to weigh on sentiment, and it will, i think, just weigh on investors looking at the future. how is this recovery going to play out? recovery and economic activity is going to be very's tilting. i'd like to get your take on how much italy is going to play out on broader sentiment. we get this out cycle down rate by fitch

manu raju on capitol hill for us right now. manu, so the first plan, obviously, criticized for letting big corporations get most of the money. a lot of small businesses got left out, couldn't get loans. are there any guarantees they'll get priority this time? >> reporter: this package sets aside $60 billion for the smaller facilities in the attempt to deal with the exact concern you're referring to, but larger companies could presumably still come in and get the pot of money that's still going to be authorized for this money. now the treasury department did come out today and try to disincentivize some of the companies from taking advantage of the popular program. we'll see if that has any fact but already, we're expecting both sides that this is probably not going to be enough money. the question is how quickly will it run out and how quickly to move on to another package and already, anderson, we see the fault lines form over another round of funding, after this package, $484 billion that will include not just the small busin

manus: jamie dimon warned of a bad recession. any echoes of 2008? we talked about counterparty risk in 2008. where is the systemic risk in the world today? sergio: first of all, of course you have risks on both sides. sense, its that in a could well be that we would see a very welcome v-shaped recovery. i don't think it is the case. you could see a severe downturn of the economy. i don't think anyone is in a position to call what will happen. uncertainty will be the main driver for the future, for the near future for the markets, and also together with fear. think it ise, i very difficult to make a forecast about how the situation will develop. ermotti of ubs with our manus cranny, they have developed a nice relationship for sharp interviews. on the data, really going to the jobless claims, the numbers at 8:30 new york time, a jumble of data today with red and green on the screen. a vix of 44 showing a better market, moving from the wonderful pre-pandemic numbers of 15 and then we went out to the absolute lehman like fear of 80, and then the recover

manus: we wish you well with that aspiration. that is one of the strongest messages i've heard from any ceo on the network. let's take china on the roadmap. to some formrning of working life. what can you tell me about the business in china as a roadmap for occupancy usage, booking, and return? sebastien: as of two or three 85% of the 25,000 workforce was at home in china. as of last night, the exact same number, those 20,000 plus pieces are back in the hotel and 90% of the hotels are open. depending on the location, but business is slowly back, including food and beverage in our hotels. one of our partners associations , which is the second largest operator in china and has over 3000 hotels has been giving me his number last night. are backs hotels reopen with close to 60% occupancy, of course in a low-budget segment. of course 98% of our visitors are local chinese, but there is indication that in a country that was badly hit, three or five weeks after the fact of the epidemic being under control, activity is back in the hotel s

manu: esto es lo que vamos a hacer. presentadora: son comerciantes se vio obligado a dejar de vender su trato dos en oakland. quieren eliminar las multas a residentes de casas rodantes. "noticias univisiÓn 14" comienza ya. locutor: y ahora "noticias univisiÓn 14" sólo a las 23:00. paola: quÉ tal?, soyahora berrueta. es un gusto saludarlos. empezamos hablando de las afectaciones en nuestra regiÓn por la pandemia. tenemos la historia de una persona invidente que nos cuenta cÓmo lleva esta crisis. >> hay un paletero que es famoso porque vende paletas heladas en las calles. hoy dice que a causa del coronavirus ha tenido que cambiar alguno de sus hÁbitos. >> reconoce que en un principio sintiÓ temor por e coronavirus, pero ahora sigue las recomendaciones de los mÉdicos y las familias. >> al principio me espante. yo desconocÍa lo que era una pandemia. se lo tomaba como una enfermedad normal. mi hermano acaba de salir y me explicÓ la situaciÓn. por medio de las noticias, he estado en el taller. >> adriÁn gÓmez es

was the ceo of ubs, sergio ermotti speaking to manus cranny earlier. samy chaar of lombard odier still with us. what are your affections on the role banks can play through this, because the role banks keepbeen given here to lending to businesses they may be wouldn't normally wish to lend to and for companies to keep borrowing through a crisis. might not come instinctively to either party, but how do you think that strategy will see us through this difficult time? once it is fantastic to see the banks being part of the solution rather than the problem, so it does mean they will be shorted and closely watched in their ability to support the system. the schemes put in place. when it comes to financial, a revenue issue from low rates, the crisis, the lockdowns, the low activity. there is no solvency issue. they are well capitalized, were not part of the problem. have anassuring we issue we will deal with, the shock will remain in time -- be dealt with in time, but we haven't had already this shock with addition to the solvency issue and that is a reassurin

. >> our manu raju is on the hill. this is in addition to the $349 billion already put in the paycheck protection program less than a week ago. the one hang-up is some democrats feel like there is not enough for other things in this, is that right? >> this is going to fail today because of disagreements over the scope of the package. as well as the challenges of legislating in a building where virtually every single member is gone. many need unanimous support to get through both chambers of congress and get it signed by the president immediately. there is not agreement on both sides. democrats say that the small business program needs some changes, it also needs to be directed to businesses that are owned by minorities and other underserved groups and they're calling for hundreds of billions of dollars more to be spent on state and local governments as well as money for food stamps and the like. and republicans are saying that that -- those matters have to be dealt with later. they say the stimulus money funding state

nico: el colmo es que estás dudando de mí-- manu: el colmo es que le tomabas fotografías sin que se diera cuenta. ambos: [discuten] ramÓn: ayuda económica para indocumentados. la alcaldesa de san francisco anunciÓ que un fondo millonario serÁ destinado a personas. sin documentos durante la pandemiaproblemas para pagar la renta. una organizaciÓn del oeste de la bahÍa ofrece una guÍa gratuita sobre lo que debe hacer si estÁ pasando por una crisis econÓmica. la primera muerte fue en la bahÍa. segÚn recientes autopsias, el primer deceso en el paÍs se registrÓ en el condado de santa clara, mucho antes de lo que inicialmente se habÍa reportado. noticias univisiÓn 14 comienza ya. locutor: y ahora, noticias univisiÓn 14 sobre las 11:00. tu gente, tu voz. ramÓn: les saluda ramón adame. gracias por acompaÑarnos. vamos a lo medular de la informaciÓn. damos inicio con informaciÓn del coronavirus, porque la pandemia causado recortes empleos en la naciÓn, llevando a nuestra comunidad y a otras a experimentar en carne propia una crisis econÓmica sin precedentes. por eso en san fra

i'm chris manus, thank you for watching. >> hi, i'm chris manus is sfgov tv and you're watching "coping with covid-19." today i'm going to the gas station. [music playing] now, these are just my stories. i'm not a medical professional of any kind. i'm a video guy. and the reason i'm getting gas so we can go to the doctors. if you want to get the most up-to-date and definitive information about the coronavirus pandemic, i highly recommend the f.a.q. that is available at sfgov. there's great info there. today i'm taking two plastic bags and a hair tie and following the new bay area guidelines and i'm wearing a mask. i'm taking the smallest number of items with me. just my car key, credit card, i.d., the bags and the hair tie. i don't want too many items to wipe down later. as aleave, i put on the outside shoes i've left on the porch. can i track the virus inside with my shoes? i honestly don't know. but my floors are cleaner now. when i get to the gas station, i get out of the car, remove the gas cap and put the big plastic bag on my right hand and secure it with a hair tie. there are thr

[timbre] manu: justo ahora. horacio: venga. ramÓn: si usted no puede pagar la renta puede que notificar por escrito al aÑo de la propiedad que no puede pagar por el coronavirus. el gobernador del estado confirma encierro de los especÍmenes educativos hasta el final del aÑo educativo, pero la educaciÓn siguiera en los hogares. en tiempos de necesidad de incertidumbre, le diremos cÓmo solicitar el beneficio de desempleo por internet. noticias univisiÓn 14 comienza ya. locutor: y ahora, noticias univisiÓn 14 solo a las 11:00 p.m., tu gente, tu voz. ramÓn: buenas noches, soy ramón adame. gracias por acompaÑarnos. vamos a dar inicio con informaciÓn sobre los efectos de la pandemia del coronavirus en nuestra regiÓn. por supuesto, entre nuestra gente. el dÍa de hoy, 1 de abril, a muchos les tocÓ pagar la renta. otros viven en la incertidumbre de haber perdido sus ingresosy no saber cÓmo cubrir las deudas. julio poletti nos llene los testimonios de miembros de nuestra comunidad. julio: muy buenas noches, ramÓn. realmen

manu: sí, yo también tengo hambre. hay que buscar algo de comer, también hay que buscar un lugar seguro para estar, no podemos estar de hotel en hotel. [celular] perdón. es para gus. [música] ramÓn: nuevas recomendaciones en torno coronavirus despuÉs del condado de santa clarasuperara 1000 casos. el eso mateo reportÓ muchos casos en 48 horas. lÍderes políticos quieren dar 14 dÍas pagados de enfermedad aciertos empleados afectados por la enfermedad en san josÉ. cÓmo se solicita un beneficio de desempleo? le explicaremos cÓmo hacerlo y cuÁles son los requisitos. noticias univisiÓn 14 comienza ya. locutor: y ahora, noticias univisiÓn 14 sora las 11:00 p.m. tu gente, tu voz. ramÓn: buenas noches, soy ramÓn adame, gracias por acompaÑarnos, siempre en nuestra cita en vivo para informarle. vamos a dar inicio con informaciÓn relacionada a cifras de contagios en nuestra regiÓn. le recordamos que esta informaciÓn es esencial para tener siempre en mente la importancia de poner en prÁctica el distanciamiento

executive, surge or ermotti, spokeo with manus cranny this morning. sergio, first of all, let me point out that our credit losses during the last quarter is the outcome of the strategy, and a clear risk reward priorities that we put in place on how we manage and the financial resources of the bank. it is also reflecting very -- for us to of manage risks on a short-term basis. last but not least, it reflects sees at that our model high degree of concentration in lending exposure in switzerland, and in general, to asset-based lending, so where we have a high guarantees.derlying relativelywe can be optimistic about the extent at which credit losses will impact our future. of course, we also will be affected by that. announcement, you talk about net income, transaction-based income all under pressure. is that going to come to bear on the numbers in the rest of the year? : on currencies, it is --y much at asset levels -- theevels will be starting point for q2 is lower, as we expected a contraction of about 200 million, 250 million. you saw that the and i i

next we'll hear from manu raji with cnn. reporter: thanks for doing this. i want to clarify something you said earlier have you had discussions with the speaker about the next steps in these talks now that we have the stalemate here in the senate? have you discussed how to -- what a deal could look like going forward? mr. mccarthy: my discussions with the speaker, i was very clear, we should be focusing on the implementation of the measures we have passed going through and we can talk about in the future. i believe the speaker and i do not want to put words in her understanding from what i read what feedback i've gotten, is that she thinks that is further down the road to do something. i think she's been credited as -- with the cares act. i don't know how she phrases that. i think our whole focus in congress should be implementing it. there's one program that's really working, the paycheck protection program, that the administration with treasury secretary has come to it, it's so overwhelming being able to keep small businesses afloat and keep people hired

millions of yemenis who have already been weakened by hunger and disease diseases such as cholera and manu tristian as well as millions of displaced people who are living in these overcrowded terrible conditions without soaps sanitiser or ability to solve isolated so this is a very very worrying situation in yemen and if we don't act now it could be a catastrophe where appealing to the warring parties took all sides in this conflict to immediately implement a cease fire on the ground we need the fighting to stop it's hard enough. you know trying to prepare and cause combat the spread of this virus without fighting so that's our 1st appeal lay down your weapons and guns and come to gether and focus on combating this virus well jordan has started a force here's how a nationwide lockdown it's a government's latest effort to counter the spread of the virus a limited number of workers including medical staff are exempt from that policy. 50 crew onboard the flagship of the french navy have the coronavirus the shell the gore has cut short its mission to return to base in the mediterranean port of

. >> hi, i'm chris manus and you're watching "coping with covid-19." today my guest is founder and c.e.o. of dispatch goods and former clinical profusionist at ucsf. she start add new initiative called project clean to provide alcohol-based cleaning products and hand sanitizers to at-risk bay area communities. lindsey, welcome to the show. >> thank you so much for having me. it's lovely to see you. tell us a little about your background and how dispatched goods of san francisco's restaurant community. >> sure. we launched, in october, we've been working on this for a little over a year. and we partnered with restaurants to provide them with a free reusable container system that could replace single-use products. we partnered with yelp! headquarters in downtown san francisco and 10 restaurant partners as of february before covid-19 hit and employees at our corporate partners could request the reusable containers when they were getting their lunch for takeout or if they were getting it delivered to their office. we then handled the pickup and dish washin

manus: right now, peter, i'm taking it day by day. talking about the supply chain, can we dig a bubble deeper? theraphically, where are biggest risks, as you sit today? peter: they are actually in many places. we have seen a shelter-in-place in the bay area, where we have suppliers, but we also have third tier suppliers from mexico that need to deliver our supplies on the west coast of the united states. we had a lockdown in malaysia. it is basically everywhere. predict howult to governments will react and how governments will extend these sometimes very severe measures they have in place. this is why it is difficult to predict what is going to happen, 't give formal guidance. without the covid-19 crisis, the second quarter would look very good. we would see at least a 50% increase in sales in q2 as compared to q1, without any covid-19 impact. because of the uncertainties i mentioned, it is difficult to give you formal guidance because something can happen the next week or the week after and we can't ship. we need to revise our guidan

. >> hi, i'm chris manus and you're watching "coping with covid-19." today my guest is founder and c.e.o. of dispatch goods and former clinical profusionist at ucsf. she start add new initiative called project clean to provide alcohol-based cleaning products and hand sanitizers to at-risk bay area communities. lindsey, welcome to the show. >> thank you so much for having me. it's lovely to see you. tell us a little about your background and how dispatched goods of san francisco's restaurant community. >> sure. we launched, in october, we've been working on this for a little over a year. and we partnered with restaurants to provide them with a free reusable container system that could replace single-use products. we partnered with yelp! headquarters in downtown san francisco and 10 restaurant partners as of february before covid-19 hit and employees at our corporate partners could request the reusable containers when they were getting their lunch for takeout or if they were getting it delivered to their office. we then handled the pickup and dish washin

. >> manu raju. thank you very much. >>> tomorrow a number of businesses in georgia will be opened. the state have not met the criteria. my next guest says his business will not be opening at this time. the owner of ddp yoga in atlanta, thanks so much for being with us. you are not opening your gym tomorrow, can you tell us about your thought process. >> i am fortunate that our project is not based on traffic. we'll be closed but my yoga company which is booming right now. i am in a much better position than a lot of people are where they got gyms, l.a. fitness or whatever. and for me, i am going to air on the side of caution because first of all, i am 64 years old. i definitely don't want to be out there working with people and putting my hands on anything. i am going to apply on what we need to do. >> as a business owner and that's great that a lot of business you are doing is online and i can imagine that's doing well and i would like to find something to do at home as well. >> in terms of the brick and mortar business, when do you think or how do you decide when is the time? >>

that was you on monroe -- munro speaking to myself and manus cranny. so many headlines coming out that are saying that the agreement with the e.u. is close but not quite yet secured. saying the e.u. discussion is about deploying the 500 billion euros. overnight, after 16 hours of a call, we did not get any decision of the call with finance ministers about how to move forward and tackle the crisis. all left schulz's sake all left say the- olaf scholz agreement was close but not quite yet secured. we will bring you more on that and on the markets next. this is bloomberg. ♪ >> we have an extraordinary thing going on. this is the first time that i know of, historically, where we basically asked businesses to suspend their activities, pretty much. there are some companies that are still functioning, but most places where you leave your place of business, they don't function as well, and we are basically creating sort of a huge disruption in the business have a gdp in we the united states, gross national product, somewhere around 21 trillion, and we will p

nejra cehic and manus cranny talk to the bank ceo. is an underlying risk which is representative of what we had in mind, then the witht of the covid crisis a mix of provisions and direct impacts. it is a bit of a mix of increase related to the covid crisis. in terms of perspective, there has been a lot of prudence, and according to different scenarios we give the range we expect toward this year between 70 to .8% minus drop in gdp in the euro zone, and 100 basis points in a -13% drop of gdp in the euro zone. we think we should be within this range. jra: the fact that you have set aside 820 million euros of bad loans in the first quarter, and you put any kind of number in terms of millions or billions for 2020 and terms of a loan loss provision? the prudencehave of all of the uncertainty, but also the benefits of all of the governments. france is i would say the most agile and implementing these guaranteed facilities, which we reduce the default. it makes the forecast very difficult. have 70 basis represent 500 million euros. means 3.5

our manu raju is joining us. what do we know of this deal? >> reporter: intervene the economy since the great depression. it could be north of $450 billion, dealing with not just small business

our manu raju is joining us. what do we know of this deal? >> reporter: intervene the economy since the great depression. it could be north of $450 billion, dealing with not just small business loans but other matters as well. we are looking at $310 billion for that popular small business loan program which run out of money last week and that's going to be approved and sent to these small business loans in a matter of days. in addition to that there will be disaster loans and 75 bill n $75 billion for hospitals which have been hit hard throughout this crisis. another $30 billion to deal with testing. this had been a big dispute over the last several days. democrats have been pushing for a national testing strategy led by the federal government, republicans pushing back and said this is something the states need to do and something the president himself had echo and this ultimately be agreed on a pot of money. some of it going to the state and some of it going to the federal government. we'll see what the state of language looks like. looks li

let's bring in cnn correspondent manu raju, he's been following all of this. and just break this down. what is in this propose the package. >> reporter: we've been going through the details as part of the effort to push this through the senate in less than an hour and part of that major proposal that could cause close to $500 billion is $310 billion for the cash starved program for small business loans. now in addition to that, it includes $60 billion that would go to -- $50 billion to disaster recovery loans and eligible for small businesses. but in addition to small businesses it includes $75 billion that will go for hospitals and as well as an additional $25 billion for testing. that would happen about -- about $11 billion would go to the states. a big fight over the last several days is whether or not to push for the federal government to take a larger role in the testing for people who have the coronavirus who want to get tested for the coronavirus. democrats pushed for a larger federal role. the president's team and republicans said this should be done b

can be a new man ♪ ♪ in new york ♪ just you wait >> yes, that is creator and star of "hamilton," lin-manue miranda reuniting the original cast to singhe show's opening number. so cool to see them together. good on you, john krasinski for making it happen. our next high goes to the boy scout one man makes outside vetera home to honor those who have died from ronaviru ♪ ♪ >> that is 13-year-old eighth ader alex saldanof boy scott troop 36 playing "taps." coronavirus has claimed the lives of at leasten resents at the new jersey veters home in paramus where 37 vs have died in the past two weeks. alex, great job, buddy. >>> our next high goes t a litary veteran who lifted our spirits this week by shaking his hips. this is 97-year-old chuck. he served as a navy pilot in world war ii flying torpedo bombers off an eric carrier in the pacific. the man is a hero to the country. this week he became a hero to the internet as he stepped outside of his wisconsin home for a break from social isolation to get down to a little timberlake. ♪ when you dance dance dance dance ♪ ♪ creeping up on you

manu . >> reporter: not only the bay area's most populous county but the hardest hit by the covid-19 pandemic. expanding resources for the region's homeless population, known unhoused people who have tested positive. >> the same health care, the same respect. that's what you're seeing in today's announcement that we're going to put a full corps press on and make sure they get the help they need immediately. >> reporter: the county is launching a massive education effort to reach more of the unhoused, soon it will bring on mobile testing stations outside every encampment, an opportunity to screen more people or quarantine as needed. help for the homeless was announced as a top priority. >> if left unaddressed, we allow our most vulnerable residents in the state of california to be exposed to this virus. >> reporter: already santa clara county has opened. parkside home beds have been set up. more than 100 trailers from the state were delivered to the south bay and will be used to shelter homeless and unstably housed residents. all existing and seasonal shelters remain optional. plans w

. >> cnn mabu raju on -- manu raj gu indicates it could take up to four weeks for stimulus checks to be mailed. we have a website to help those who do not have direct deposit relationship will not be ready any time soon that website. so the functions of government are not work, in terms of the stimulus funds getting to the people immediately. >> and this is the problem. deem with the checks first. in the past, it's already taken an average of two months to get a check into somebody's hands so we knew there was going to be a problem. i've spoken to you before about the fact that 60% of people that filed taxes last year actually gave their direct deposit information. it's the other subset of people qualifying for checks we having a says to. if this website isn't up and running, so what? another six weeks, plus three weeks to try and get the money into people's bank accounts. we're talking two months beyond the lockdown. two words, financial crisis for individuals involved. >> and julia, some banks are warning tomorrow will be utter chaos. tomorrow is when small business owners could be

also we're learning from our congressional correspondent manu raju the president was on a call with senate republican as few moments ago, and senator mcconnell, majority leader, indicated democrats will not be getting funding for state and local governments that they had been seeking. other concessions, though have been made. we heard mnuchin earlier today saying funding for state and local governments could come during a future economic stimulus package. >> uh-huh. you know, prior to that, yesterday the president was selectively critical about certain state governors. listen. >> they don't want to use all of the capacity that we've created. we have tremendous capacity. dr. birx will be explaining that. they know that. the governors know that. the democrat governors know that. they're the ones that are complaining. >> and many of those governors did respond to that criticism from the president. >> reporter: they certainly are pushing back. of course that criticism from the president is the latest attack lobbed against democratic governors. you'll see in the video i'm about to toss to, both

. >> hi, i'm chris manus and you're watching "coping with covid-19." today my guest is founder and c.e.o. of dispatch goods and former clinical profusionist at ucsf. she start add new initiative called project clean to provide alcohol-based cleaning products and hand sanitizers to at-risk bay area communities. lindsey, welcome to the show. >> thank you so much for having me. it's lovely to see you. tell us a little about your background and how dispatched goods of san francisco's restaurant community. >> sure. we launched, in october, we've been working on this for a little over a year. and we partnered with restaurants to provide them with a free reusable container system that could replace single-use products. we partnered with yelp! headquarters in downtown san francisco and 10 restaurant partners as of february before covid-19 hit and employees at our corporate partners could request the reusable containers when they were getting their lunch for takeout or if they were getting it delivered to their office. we then handled the pickup and dish washin

but the judge declared a mistrial and al manus case. his trial date remain set on july 6th. the virus cases in the u.s. continue to rise, but the exact models are very yes, and they're adjusting a bit which is good news for some cities, others though could develop into the next hot spots. >>we have nick watts now to explain. >>a glimmer of hope a model used by the white has now predicts the nationwide death toll is down about 20,000 largely due to social distancing. but. >>today is today's state of new york with. very mixed emotions because day after day the state is still seeing a rise in reported deaths. >>and the number of deaths will can continue to rise. as those hospitalized for longer period of time. passed away was very sobering to see the increase in gas, it's going to be a bad week for dance. >>and about 60,000 americans are still projected to die by early august right now we're not even a quarter of the way to that grim total and every number is a person a story. so no be a shepherd's daughter layla knee just died. age 27 my husband, and i both for in the room. >>

growing mountain of manu scripts and rare books being put on websites in library archives here and abroad as well. it is a brave new world, and it really is brave. i'm not ashamed to say that every book i wrote, prior to the year 2000, would have been better and more authoritative had this technology been available then. it's a useful and, i think, a humbling reminder that no matter how much you may think you have found, there will always be much that you miss. indeed, one primary lesson i think i've learned over the years is that the historian ought to carry on his shoulders the knowledge that any narrative produced, chances are that no more than half of the actual story is there. the rest is yet to be discovered. hence, davis' second law of history is that within -- sadly from personal experience, within about 30 minutes after your book or article comes off press, you will stumble on to a host of fantastic sources you didn't know about before you wrote the book. it's always going to happen. no one ever finds everything. another lesson learned is that historians of earlier generation, an

manus:

millions of yemenis who have already been weakened by hunger and disease diseases such as cholera and manu tristian as well as millions of displaced people who are living in these overcrowded terrible conditions without soaps sanitise our ability to solve isolated so this is a very very worrying situation in yemen and if we don't act now it could be a catastrophe sometime i mean yemen is also essentially an active conflict zone the saudi led coalition may have declared a 2 week truce but the who theists have vowed to continue fighting so how do you deal with an outbreak in a country where great swathes are just no go zones. i think the 1st thing to say is where appealing to the warring parties took all sides in this conflict to immediately implement a cease fire on the ground we need the fighting to stop it's hard enough. you know trying to prepare and combat the spread of this virus without fighting so that's our 1st appeal lay down your weapons and guns and come together and focus on combating this virus i think of an aid agency what we really need now we need to be able to work with the

manus: oil has resumed the gains on signs the world's

manus: we wish you well with that aspiration. let's take china as a roadmap, china is returning to some form of working life normalcy. what can you tell me about business in china? as of a few weeks ago, we have 25,000 employees in china in 400 hotels. 2.5 weeks ago, 85% of that workforce was at home. as of last night, the exact same numbers are back in the hotel, and 90% reopened. business is back, slowly back, including food and beverage in hotels. our second-largest operator in gave me his numbers last night. 90% of his hotel is reopened with close to 60% occupancy. this is a low-budget segment. 98% of visitors or local chinese, but it is a good indication within the country badly hit, three to five weeks segment inact, some the hotel spaces back. nejra: one thing you pointed to previously is your strong balance sheet relative to peers. i wonder as we look past the crisis we are in, as we have been doing for a lot of his conversation, could your balance sheet create any opportunities for consolidation post crisis? >> one thing

manus: dubai has eased some strict