francine: our mark cudmore, we will see whether those figures translate into a change in policy. karim chedid let's get into market drivers with kristine aquino our editor and karim chedid from blackrock. we saw the session in china filtering through into european stocks. kristine: what's powering the rally particularly in chinese tech shares which were at the center of this audit issue and we are seeing a flow through to the early european equity session. the broader context in china is we are seeing covid and choose -- issues and potential lockdowns continuing. but the reality is in terms of that situation on the covid front it is looking controlled. particularly on the death front. if you look at the context of the market that is ready for some good news, it looks like this is being received positively by investors. francine: it does seem that the market has not priced in the bad news. i don't know whether they are just looking for some returns. if you are fully invested, where you go if not

francine is live in paris. interesting to see that with these polls starting to narrow, it does feel like the market is finally waking up to the risk they need to hedge and pricing. -- price in. francine: it is interesting talking to them i guess who looks at stocks where the -- is priced in. you're going to see jp rising, the market is not pricing that in. it is improbable, not impossible. he saw the bond yields and the euro. after sunday, depending on what the new poll shows, the two candidates will have a runoff on the 24th. we'll have a better idea what the market is concerned about. dani: the rain behind you is also going to factor behind -- into this. manus: if you look at the last presidential election, they could change everything. if you look at the top three candidates number three is left-wing missed, it is unclear who the left historically lending voters will vote for. if it is raining, you don't have a candidate you care about, you may not show up to vote. that can change everything. dani: i love i

i think francine prefers the deep fake. francine: it was a smooth voice. tom: there was a caramel essence. these guys are leaders in the space and they have raised a lot of money from google ventures. we are joined by the ceo of synthesia, victor riparbelli. why do we need big fakes in the commercial space? victor: what we see in the online world today is video audio has become the default. that causes a big problem for companies because recording video is time-consuming and expensive and does not scale. tom: don't tell our bosses that. victor: what we see here is not replacing video production but replacing text. our customers use this for training. instead of having that done with slide text, now we have a video which is a better format. francine: the caramel voice. you have made my day. my tom mackenzie can speak spanish. can we have a look at that deep fake? tom: [speaking spanish] francine: gracias, tom. tom does not speak spanish. tom: i can say --can i have a ham sandwich? where is the beach? now, i have that new skill set and now victor can program

francine: such as? grace: what do we do as we head toward later cycle, but first thing is to opt in quality. we can do that on a cross asset basis. particularly on equities. we have had a meaningful rally in the last week. there is lots to do like sell cyclicals and financials, by into health care. growth at a reasonable price against technology. francine: if you are a stock picker, it is very different than if you are a bond trader right now. kristine: i think whether you're a bond or stock trader, at the moment it is assessing what we saw in march. and trying to figure out which trends we saw in the first quarter or the past month would potentially have room for some reversal. in the bond space we are starting to get questions being asked over have yields gone far enough? there is something that needs to be had for investors if they pile into a 30 year treasury bond now. if you are a pension fund seeking for that yield, that could potentially be attractive and maybe take some attention away from the e

francine: thank you very much. maria tadeo at nato headquarters. let's get back to richard dunbar , aberdeen head of multi-asset research. we talked about the fed balance sheet and i want to go back to that and what sanctions mean for oil and the feedback loop of inflation. this shows us the progression we have had over the last decade or so where you -- where real yields are finally rising. what is the key stock rotation? richard: real yields have to rise. the fed has a policy to lean against inflation i reducing the balance sheet and by reducing the policy more generally. real yields have got to rise, they have got to slow the economy. that is the cause and effect that is starting to work from the central reserve and that is what they will be looking for. in terms of what that means for stock and bond selection, it is a difficult choice that we are seeing. we see slowing growth and there is reduced revenue opportunities for companies and we see that coming from some of the companies especially those in europe and

-- with francine lacqua. francine: here's what's coming up. charles evans expects the fed

francine: it's different. tell us what you we can expect and what we are calling the third rounds of the parliamentary election. if macron becomes president, he needs to have the power to get things done, do you have any polls on what -- how that would go. could someone vote for president's interest but go far right or far left in june? emmanuel: we don't have numbers on that. [indiscernible] this sunday, we decide the majority, the parliamentary election, we probably decide who is in the leading position, last time, five years ago, marine le pen -- she only obtained eight seats, which at the time, the traditional party -- francine: very different here. talk to us about how francis changed. what is extremely surprising when you do not live in france is that the far right and extremism has been steady, what does that mean for what people are seeing in your polls, is there a policy that would make people feel better or really worried about this? emmanuel: [indiscernible] almost 10 points in five years, that is c

tom, francine. francine: alice atkins in london. coming up, we will talk twitter and about elon musk -- can he deliver a twist to the weeklong saga that has captured the tech community? this is bloomberg. ♪ tom: welcome back to the open. 51 minutes into the trading day. a bit of a turnaround in some of the indexes particularly france. the cac 40 gaining 0.8%. francine: let's get the latest on the war in ukraine. president zelenskyy expects russian forces to widen their offensive. it comes as a foreign ministers are meeting in luxembourg to discuss sanctions. let's get over to luxembourg to join maria tadeo. the sanctions have been approved. what other sanctions can we expect? maria: we know the package was approved. when you look at the european union and the imports they take from the russian federation but the question is, what happens next? and today, there will be a debate on the next package. the question is oil. gas seems to be a no go. oil is debatable. a lot of this in anticipation of what european officials but also your

francine: let's take a look at that futures. i like one of the entries we have in our mliv, ecb hawkish ms. has gone mainstream, and ftse futures gaining .3%. jay powell and christine lagarde speak today. tom: the money markets now pricing in 325 basis point hikes from the ecb by the end of the year. we will get into that shortly. a selloff in the peripheries but also german boones as well. use all repricing in the other direction yesterday when it comes to u.s. sovereigns, you had bank of america saying maybe there is a buying opportunity but how does this hawkish ms. from the ecb flow across to the fed and the right cycle there? markets expecting 50 basis points in may and june, some even suggesting another one in july as well of 50 basis points. the ftse 100 lower by .2%, the cac 40 higher by .2% with that presidential debate and the pull suggesting president macron came out ahead after going head-to-head with marine le pen. the final vote is sunday. the ftse in italy is lower by 27 basis points, range bound on the benchmark

francine: kristine aquino there. we are getting news that the hong kong chief executive has resigned. we are also looking at the president of the european council so we will get to the breaking news shortly. talking about some of the sanctions that they will impose on russia. more on those stories next. this is bloomberg. ♪ francine: welcome back to the open. 11 minutes into european trading day and a lot of european stocks that we were expecting to open lower are not by much but are trying to find their feet with what lael brainard said in what they could do on the balance sheet for a hawkish fed. we are also seeing european parliament -- they facilitate between brussels and strasburg, talking about potential sanctions they will impose and whether they will close more loopholes to make sure they are playing out the way that europe wants them to be. let's get the latest on the war in ukraine. the u.s. and g7 are coordinating on a fresh round of sanctions on moscow following the discovery of murders of civilians in

francine: what do you get from the markets? the markets are still saying that we are fine and we will get through it. does that lead to more correction? mohamed: if you are an equity investor taking on a lot of risk, where do you go to? cash guaranteed returns, bonds, capital depreciation, where do you go? in a relative space, what you are talking about would shift us into an absolute space and that is a different proposition. francine: when we see that at some point because of the absolute space? none of this is modeled and this is not priced in anywhere. mohamed: i have an article coming out that says exactly this, that this is the time to take some shares off the table. the market has been incredibly resilient and investors are picking up on that. francine: thank you so much as always for joining us. bloomberg columnist mohamed el-erian with wonderful critical thinking when it comes to the possible rationing on what it means for markets. dani: fastening in this environment, taking chips off of the table again. fantastic conv

francine: 50 pounds. francine: tom: we will see what the political ramifications are. president zelenskyy says russian forces have begun a new campaign to conquer the east of the country. >> russian troops began the battle for the donbas for which they have been preparing a long time. no matter how many russian troops are driven there, we will fight. tom: vladimir putin says western countries have hurt their own countries with sanctions against russia. >> we can now confidently say that such policy of sanctions towards russia has failed. the economic blitzkrieg strategy didn't work. the initiatives themselves couldn't get away with the sanctions. i am talking about inflation and unemployment growth. and economic dynamics worsening tom: joining us now is the former deputy supreme commander in nato in europe. richard: this is going to be a decisive phase. the russians have announced having failed to take kyiv they will now focus on the east of the country. britain has its big victory day parade on the ninth of may. on the other hand, the ukrainians have had time to prepa

richard: i have no idea, francine. what i did read this morning is that he prefers to go on to his own social network. i think if that is going to get any real traction, i suspect he may have to be there exclusively. i've no idea, but perhaps not. tom: so far, he is only posted once apparently on his own social network. richard, why was this a deal the board had to accept ultimately? richard: quite frankly, the financial terms. what's really happened i suspect, and we wrote about this when elon made his first offer, when you run the numbers on twitter, there is no doubt that $54 20 cents is a fantastic offer. and the fundamental value in terms of cash flow gets nowhere near it. consequently, to make an argument this is not in the best interest of shareholders is very difficult to make and would take the board dangerously close to that bridge of by do sherry duty particularly when it seems some of the largest shareholders are pressurizing the board over the weekend. francine: what is this, money walks and ideology walks

francine: there are some nuances. it depends on whether he gets a parliamentary majority in june to get his reforms through. but also this is a fractured france and he says that in his victory speech, it is not that people voted for him, but that a lot of people did not want marine le pen. she did bring 42% given what she represents of the right. people in the country will regroup today and emmanuel macron will try to figure out how to be a president for everyone. tom: whether he can secure that mandates to push forward the key reforms. francine: the reforms on the pensions and other things. it is interesting to see a big lift in the euro yesterday but because the polls were right on the markets expected them to the -- them to be right, there was not much movement. french banks really taken with concerns of lockdowns in china so it is not the macron input right now. let's get into the key market drivers with bloomberg's mliv managing editor, mark cudmore. what is driving this risk off right now? mark: today it is all

francine: what is your biggest challenge right now? you have to make sure you are up-to-date with everything going on. what is your priority in the next 12 months? >> our priority is to maintain the great momentum we've seen coming out of last year and now going into this year. we are undergoing one of the boldest digital transformations anywhere in the world right now. we are in year two of that and through richer content offerings and through better celebrity orchestration, our customers increasing the need. at the same time as we modernize we are improving customer expedience. all of that is allowing us to defy inflation. so really we have never seen trust needed anymore. dani: to the point of a secure network, sweden has been looking at joining nato come as have their neighbors, and of course you operate in the baltics as well, in prior times in russia, we've seen cybersecurity really be the main threat. how concerned are you, especially when it comes to the telia business from russia and again, that cyber security threat. >> provi

francine: this is not chernobyl because for years people have not been confusing it and given chernobyl is back in the news, this is a different kind of space. it is on the riverbanks. this is an economic conference called the ambrosetti forum. we will have guests coming on but i will also be interested about what the conversation is behind closed doors with central bankers. we also have an exclusive conversation with the dutch central-bank governor. this morning we already spoke to someone from allianz. it is clear that when you look at some of the things we need to watch out for, if there is an oil embargo, we have some shock and we could see rationing. this is something the market has not clocked on so it will be up to the governments in europe on what sectors they will shut down and what remains open. this will just be because of the energy prices. i had a great conversation earlier where a guest said that the markets have not priced this in at all. let's get over it to our bloomberg mliv m

francine: let's take a look at the futures. it's all about the divergence in the corporate stories. the dax are fluctuating. we saw concerns in china, we have the fed, and the corporate results, tech are is down. i like the convergence. there's a lot that these markets have to work through. he saw some pronounced losses on wall street yesterday. the doubt more -- the nasdaq year to date lower by around 20%. we continue to watch that space, is higher yields. xi jinping and china thing that needs to be an all-out effort on infrastructure. the ftse 100 getting .1%, spanish ibex is lower by about .1%. we continue to keep an eye on the earnings, bring some executive interviews with the likes of credit suisse coming up as a see how that reads across. in terms of the other markets where watching the futures, after a day on wall street -- see how things squaring up. with the geopolitics and the acknowledgment the step by russia to cut pollution -- poland and bulgaria off considered to be an major steps

francine: that is tight. luc: it is ok. for two weeks we could have worries by financial markets if the polls go back to 51%. francine: this feels very different to 2017. macron has been in the job for five years, and people are going to not bother voting. one candidate said don't vote for le pen, so is there a danger that voter turnout is so low that it gives more momentum to marine le pen? luc: i think melenchon gave an opinion this time. five years ago was positive for my throne -- macron. i tend to believe is is a better situation than five years ago, still it is very tight. francine: in 2017, monsieur macron got 67% of the vote, he could only get 53% this time. luc: 53% is fine. francine: what does it mean for the markets? luc: if marine le pen is the president, the main indicator to look at is the 10 year spread which is currently at 55. it could go to 100 or above. i think the main point is if le pen's president, and even if she does not still support frexit, because of the fact that she wants only friends to decide.

francine: what if he doesn't? europe is fractured coming even more with some of the older political parties being dissolved. what if he doesn't get a parliament dream majority in june -- parliamentary majority in june? douglas: the question is will it be the extreme left or the extreme right that is his main opposition? he will have to compensate and change reforms. if the extreme left manages to form an alliance with the traditional left parties and emmanuel macron finds himself against the left, finish with reform. francine: i think the far left candidate did not make a secret he would like to be under emmanuel macron. is that a possibility? douglas: only if they rally together. remember he was a socialist them up but the more likely outcome in the legislative is marine le pen and her party will pick up seats in the regions where they are strong. the south and east of france, and in the north, where she has been doing a lot of local constituency work. if she becomes the main force in the opposition, emmanuel mac

francine lacqua secured a place at the table. she is joined on a day where we will see inflation in that eurozone at 7.5%. you are joined by the central bank governor of the netherlands. francine: you are right. it is a good work trip. we are talking inflation monetary policy and i could not be more delighted to be joined by the governor. we had the french that was higher-than-expected. inflation seems to be creeping up and up. monetary policy should still be gradual. is this a mistake? >> no. of course not. inflation comes up. today's inflation, in some ways, is water under the bridge. this is all energy price inflation. it is coming from outside the monetary union. our task is to make sure this temporary inflation does not become entrenched into permanent inflation. for that, we closely watch the medium-term inflation. there are sufficient indications that inflation is still to converge back to our 2%. as long as that is the case, we can afford to be gradual. francine: what does it mean, if inflation keeps getting higher and if

let's get the latest with the french elections with francine lacqua. francine: good day, we are joined by the global head of fixed income at candrium in belgium. nicolas, so many questions, do you trust the polls, do you think emmanuel macron will be president on sunday? nicolas: yeah, i think so. i believe that macron will win the election on sunday. the market does underestimate the risk of marine le pen. it does not care about le pen and believes she won't win. but when we look at the polls, it seems clear that macron will win the elections. ranson: there are -- francine: the worry is the leftover voters, what happens on sunday if we have a marine le pen presidency? nicolas: that would be a big mess for the market. on the oat bund we are expecting widening. the market clearly does not believe in the marine le pen the victory. what is important to mention is when we compare between now and five years ago, now marine le pen doesn't want to leave the eu , so that is a big change because she is saying she wants to stay in the eu area. it will be a big g

francine: work on your pronunciation. jonathan: tk and i have oh's had an arrangement that i will manage the clock. everyone knows that he cannot manage a clock. i will get us into the break and out of the break and tums brings in the guest except when he does not know how to pronounce the name. back in the day on radio, he used to do a big build up to a guess and he would turn to me and would suggest i bring in the next guest. sometimes he chooses to butcher it and when the show was on radio and not television, he would hide behind the desk literally crying and now it's on tv and i can't hide. tom: it was weird when you're on vacation with the director of strategy from turkey. we never got there. lisa: and tom was insulting me the whole time. tom: i had the honor of the first interview, the greeting of her to the imf. i did this in front of 800 people and i'm going i can't pronounce this. we say good morning. jonathan: futures are negative 1.3 of 1%. yields are up three basis points. from new york city on tv and radio, t

francine: this is the picture for a lot of the sectors. this is the beauty of the blue burn -- bloomberg, looking at what the sectors are doing. i'm seeing travel and leisure, auto parts and technology on the way up. most of the stocks are gaining in terms of sector levels apart from health care, down .2%. i'm going to check whether there's a discrepancy, overall, it's a tale of whether earnings are disappointed or not and what that means for forecast. we had a good conversation with unilever about price pressure. the companies they can pass on some of these inflationary pressures without hurting demand will do better than others. tom: unilever saying they expect inflation and cost prices to increase, they came out with earnings, update -- .8%. a on inflation of what that might do for profitability in the second half of the year. place, a string of wins across the banking sector, credit suisse is the exception. as a prize barclays when it comes to trading within the fixed income market, gaining 1%, they do say they want to be returning cas

francine with the axa senior economist. we have an election special, it begins on the here on bloomberg tv. at 7:00 to 8:00 p.m.. that is 10:00 to buy time. -- dubai time. but out saying they are going to take a 4 billion swedish kroner hit because of russia. that translates to just under $400 million. they say they have a total asset of $9 billion exposed to russia. i could beat materialized over the according -- coming year. our 12 month target on -- you are going to see more of these european companies beginning to deliver contacts around the russian exposure. dani: i wouldn't be surprised to see more like volvo, where they're trying to emphasize the small amount of their sales, in 2021, 3 percent of net sales were to russia. let's get to work other first word news with juliette saly in singapore. juliet: eu member states have agreed to and pull shipments from russia. the u.s. and u.k. also barred most russian trucks and ships from entering the eu. congress voted overwhelmingly to strip russia of its trade status, puttin

francine: thomas pesquet has spent more than a year of his life in space. as a european space agency astronaut, he's captured the hearts and minds of people on the european continent, with his updates on life from the international space station. thomas: i had in the back of my head a list of things that could go wrong. there are so many things that could go wrong. it is a series of miracles to get you to space. francine: thomas pesquet, a former air france pilot, who spent years in training to blast off from earth, now on the role space exploration can play in

francine: he grew up on a farm in ireland and was the first person in his family to

tom: that was a former ceo of pepsico speaking to francine lacqua. you can catch the full conversation on leaders will flock what. -- leaders with lacqua. goldman sachs, citigroup, and morgan stanley all reporting earnings in the next hours. jp morgan had their results released yesterday, which saw their results marred by the fallout from ukraine. let's start with jp morgan. they have taken a hit from russia. what actually came through and can they whether this going forward? >> we saw that in many ways. we saw this $524 million loss from russia but we also saw jamie dimon talk about volatility and that has been on the increase because of this war. we have seen it in the pipeline of deals that we have heard so much about. that has slowed down. it is still on the upside with marty's ratings but overall it is having a negative hit that this work inaine has on bank earnings. tom: and what are other things investors should look at? >> we are looking at how these investors and banks will look at the speed of the fed moving rates. if they slow economic gro

francine lacqua is there. >> thank you so much. we are joined by my read mcginnis, commissioner for financial services. questions about banks, sanctions, and if you see a lot of invasion of these sanctions through loops, ways to get around it, or whether you think that banks are too hard. mairead: i've been in italy for two days and i've been listening to banks and businesses about what's happening on the ground and there is a strong political commitment by premised are draghi that there is full implementation. the banking sector is fully committed. it is interesting there is an element of de-risking. to your point, when they are unsure about an account or transaction, don't take the risk. that's also reflected in the fact that industries invested in russia are also saying we are not comfortable about this. we know we are not sanctioned, maybe we should pull back from our russian investments. the other point is around circumvention. this is something we are mindful of. we are working with member states to make sure we have clear gu

. ♪ francine: one of the world's leading business executives. she reached the pinnacle of the ceo of pepsico for 12 years. >> i had a loyal set of people that followed me because they just thought they became better leaders, better executives, better people after they worked with me. francine: she has been named one of the most powerful people on the planet and she brings unique insight into the challenges of achieving equality in wall street.

manus: indra nooyi there, pepsico's former ceo speaking with francine lacqua. you can catch the interview a little bit later on "leaders with lacqua." what's going on in the oil market? i love on out of consensus call. they are talking $73. the debate is, what is it that takes you there? from my reading, they are fundamentally worried about demand growth. it's going to draw from 3.6 million barrels per day to 2.2 million. that is a monster drop. dani: it's huge. we are already starting to see that drop, just from china alone. the iea cut their demand forecast by 925,000 barrels per day because of china on its own. it is europe, u.s., high prices, it is demand destruction. manus: you have a bridge, it is the spr. biden talked about the biggest release in the history, a million barrels per day. that bridging gap. citi says you are going to get u.s. production picking up. how did they deliver that? that's the issue. dani: will be interesting to watch. that's it for us. this is bloomberg. ♪ ♪ francine -- anna: good morning. welcome. i am anna edwards live in lo

i'll francine caesar in how come boots and white helmet. she spends most of her day here managing this local power plant. it took her 3 years to find the finances and built this hydro electric plant, alongside bible studies, she earlier trained as an electrical engineer mad visible on the planet. the convent only did an electrician winding a technician who could help out for it. they saw and made a talent electrical engineering and it before so they offered me an opportunity to get what to go. study the technology. i legally, catherine, that's where it all started. is he on visit in what the say this constant outages and deep frustration with the lack of power inspired says that often seen to stop racing funds in 2015 now the hydro electric plant lights up her local community including her convent, the local church, a health clinic and 2 schools, all free of charge. i vaguely pool. ha e one for the with the electricity we produce for the school and we can train young people walk in for more and with the power that we supply to the hospital.

i'm dani burger in london standing in for francine lacqua. it's u.s. inflatio

francine lacqua would be here for a special on sunday. coming up, we continue with the energy story. the g7 ramping up sanctions on russia. au you banning coal imports in the u.s. rocking blessed -- russian investment. that next. this is bloomberg. ♪ manus: manus: manus: it's daybreak europe. dani burger in london. europe is taking a big gamble as it moves to ban russian coal. leaving it vulnerable to shortages and blackouts. russia is europe's top supplier of coal. joining us now is our energy reporter stephen stapczynski. the coal markets around the world, how are they reacting? this is 45% of europe's coal needs. this is a big step. stephen: this is a big step. and i talked to the traders, it's a step that folks weren't expecting until those reports of atrocities were coming out. we've seen prices really jump in europe. they jumped more than 10% yesterday. you are seeing a knock on effect in asia. they jumped about five or 6% here in north asia. the reason being that when you cut out russia, there's going to be more competition betwe

ah, i lisa, this is francine. i used to do problem number 2. why i should have been with them a lot. the last time can be bottom, donnie laska. she, mr. simone, it's a doctor. as soon as the sun fee is that info, and then we'll bring you to give this person because he gets yonder. he acts he'll, he'll do, he could, you call i in see get him and if they're good, any data found me will manufacture on this difficult good soon. yes, i think i sent you one without yet not the one in so then i knew that he would want it said don't impress your mem nipple while i feel it has this damage of loosely d, m, l you what the press ask us out of what i mean with a jack, a thief, you lose up con, apparently for funky to clear. there's no new missing. ready bountiful i love was on top. well, you that oh, wow. good. oh yeah, for a i'm from for vanessa. will amendment it. got it? no, no, no, to this until been meeting with the member. ha ha . whether o. k. as in sam, z as in zebra. and it's been pre sounds do. what do you think? what did, who do i says their mone

ah, lucy, this is francine. i used to do problem number 2. why i should have been with us, you've been a lot below sunken me bottom, donnie looks good. she, mr. simone, it's a doctor who's out here to sante is that in for 3 or shipping from new jersey. does this person because he gets yonder vx field or he can you call i if you get him a bit and if there was any danger by me will manifest. i found it difficult. good to know. yes, i think there's something wrong with it. not the one in so then i mean that you would want it that don't impress your memory nipple. well, i feel it has this damage of who's like the image. you want to ask us out of what i mean a jacqueline williams in my home. i think you know, the con, a bountiful funky to clear liaison to missy. ready valley fall and love was on top on either oh, wow, good. oh yeah, for a do you been musical to what have them in the ha ha. whether o k a d. i didn't approve it been pre sounds do. what do you get on? what did, who do i says their money rounded here. well, was it funny? if you go i d

francine: they are one of the world's leading business executives. she reached the pinnacle of the world enterprise as the ceo of pepsico for 12 years. >> i had a loyal set of people that followed me because they just thought they

the weather systems and low pressures will be close to northern and eastern areas to bring whether francine and a little bit of rain. on balance, namely dry —— weather fronts. possibly windier as well. still away with the end of april looking dry as well. as ever, there is more online. welcome to bbc news. i'm nancy kacungira. our top stories: the world's richest man, elon musk, buys twitter for $41; billion, but what does he plan to do with it? russia's foreign minister says there's a danger the war in ukraine could lead to a third world war, as many are forced to live underground, desperate for the war to end. translation: everybody is scared. now— translation: everybody is scared. now even _ translation: everybody is scared. now even afraid - translation: everybody is scared. now even afraid of. scared. now even afraid of silence. you never know what will happen next. a turkish court has sentenced civil rights activist osman kavala to life in prison without parole on charges of attempting to overthrow the government over

francine mata says. we're tired, but we got to keep on working. and again, that was dmitry reporting. three arrests have been made in connection with last week's shooting, and his lizzie mentioned. investigators suspect as many as five people were involved. new tonight. paolo alto police say they are investigating the vandalism of ukrainian flag as a hate crime. police see the flag was displayed outside of a home on almost street near churchill avenue, but sometime wednesday night or early thursday morning, someone took down the flag. the resident of the home found the flag bundled up in the yard with what appeared to be feces on it . police are asking anyone with information about the incident to contact them, saying the city of palo alto strongly denounces hate crimes of all kinds. russian president vladimir putin will meet with the european union leader for the first time tomorrow since his country's invasion of ukraine. president putin has plans to meet with austrian chancellor karl me hammer yesterday, the hammer belt with ukraine's president

announcer: this is "bloomberg surveillance: early edition" with francine lacqua. dani: good morning and welcome to "bloomberg surveillance: early edition." i'm dani burger in london.

thank you so much for your time and of course coming up on this sunday, francine lacqua will be live from paris as the country decides on their next president. breaking headlines out of the united nations. the u.n. has voted to suspend russia from the human rights council. this was an issue pushed by the u.s. after the alleged atrocities in bucha. coming up, a rocket launch for the record books. the first fully commercial crew of astronauts will fly to the international space station. we are live from the kennedy space sector -- kennedy space center next. this is bloomberg. ♪ kailey: in 24 hours spacex will be carrying it's all private crew to the international space station. it's another feet for elon musk -- feat for elon musk's company. ed ludlow joins us from the kennedy space center on the ground in cape canaveral. tell us what's going on behind you. what goes on on the ground today ahead of tomorrow's lunch? >> we have had a series of static fire tests. we are told that the weather conditions are 80% favorable which is hard to believe if you take a look behind me. it's pretty

ellen zentner with francine lacqua out on lake cuomo. she is flyfishing after the interview. this is the point for the second quarter, to easy demand destruction click in? dominique said he is -- we are returning to normal labor economics with the reemergence of the phillips curve. i've not said that in four years or six years. jonathan: are you heated about not being at lake cuomo? tom: it is not as romantic as you think. there is/and the line goes horizontal -- there is slush and the wind goes horizontal out of the alps. jonathan: i would say it is best to go in the summer. futures up .5% on the s&p. the nasdaq up. yields higher by seven basis points. they do a great breakfast. 490,000 is your estimate for payrolls. that is coming up later. this is bloomberg. lisa: keeping you up-to-date with news from around the world. bloomberg has learned the u.k. has agreed to join the u.s. and releasing oil from its strategic reserve. no word on how big that release will be. president biden has announced the u.s. will release one million barrels of oil a day for six months. the goal is

this sunday, francine lacqua will be live as harris decides on their next government. don't miss that. this is bloomberg. ♪ guy: a lot of breaking news. the u.k.'s chancellor has admitted he held a green card while he was chancellor. you're meant to green cards up one year after being out of the country. he had the green card and he lived in the u.s. before he entered politics. he returned it on his first trip as chancellor and is already under considerable pressure because his wife, a multimillionaire, holds non--- cases which means she does not pay taxes on her foreign earnings. that does not look good for him. kailey: what trouble could that spell for the chancellor? elsewhere, legal issues, a folder -- a former goldman executive found guilty on fraud accounts. here is sonali. talk us through it. sonali: he faced three counts of conspiracy and is found guilty on all counts. he was the only banker to go to trial in this case. as part goldman goes, they are watching it closely and so far as what details came out of it, we did see the extent to which this played out.

the coverage led by francine lacqua and caroline connan. she is watching the french elections, one example of the new autocracy worldwide, the strident moment that we live in, and that is joyce chang that jp morgan. joyce, give me the new scene at jp morgan. you wrote most of the 44 page later -- letter. what is the research theme in your shop the rest of the year? joyce: we've taken the first half down because of russia-ukraine and the high energy prices, down three percentage points. we are looking at the first energy crisis in the decarbonization era. jamie has been writing about a need for a marshall plan on how we can accelerate this transition, and sure energy security and get used to a world where we are in a place with more volatile cycles, higher inflation, higher treasury yields to come. there is a lot to watch in the commodities market. we are waiting to see. a lot of those pressures are still with us. tom: i look at the marshall plan of jp morgan and david folkers landau, the academic at deutsche bank saying the same thing, ther

mohamed el-erian was on with francine lacqua this morning. if you want to get inflation down, the price you have to pay as recession or tolerate higher inflation. it is one of the other. i wonder if that is the case. lisa: i can't answer that question. obviously i don't have a crystal ball. what priya misra was saying echo that. the flirtation with curve inversion suggests the same thing. there is a feeling that perhaps mohammed is right. jonathan: futures up .5%. payroll at 830 eastern time -- 8:30 eastern time. the estimate is 490,000. this is bloomberg. ♪ lisa m.: keeping you up-to-date with news from around the world with the first word. president biden says russian leader vladimir putin may have fired some of his advisors or put them under house arrest. he said it's an open question whether putin is informed on how his military is doing in ukraine. they come in says those remarks are example of this information. european union leaders have a warning for china's president xi jinping. china will hurt its global stature if it helps russia

special coverage on sunday with francine lacqua. from new york, this is bloomberg. ritika: the u.s. again is threatening china with sanctions as it offers support for russia's war in ukraine. the secretary of state says china was not helping the situation in by doing things like amplifying russian misinformation campaigns. there was a promise to help end dependence on russian weapons. demand from oil the most since the early days of the pandemic. demand for fuel is expected to fall 20% from a year ago. china's zero covid policy is a montage of the economy. emmanuel macron winning another term as president. he is running out of time to narrow down gaps between and before the runoff elections take place on sunday. he has a 12 percentage point lead to land a major blow on wednesday night but she failed to do so. an international arrest warrant. he and four others are sought for allegedly helping him siphon millions from an automaker. it was a daring escape from japan where he faced charges of wrongdoing. coming up, we will talk to him at 1115 time -- 11:15 new york time. he is donating