Boris johnsons condition has worsened although he is said to be in good spirits. The virus pushes australia closer to its first recession in almost three decades. There is no expectation that the rba will make any changes when it needs meets later. Shery lets turn to President Trump at the white house. He is giving a press briefing on the coronaVirus Outbreak. Take a listen. Pres. Trump 15 are in plans for critical trials in clinical trials. A Second Company enough the fda has authorized its vaccine candidate to begin clinical trials. Johnson johnson is already there. I believe they were the ones that are first. Now we have a Second Company that has Just Announced and was just approved. We have two companies at that level. 100 ift performed you think of this 1. 79 million tests. 1,790,000 tests. I believe we are going to put on the screen. This is the process starting on 5 march and ending right about now. Yesterday. Pres. Trump and it is going up at a rapid rate. Nobody has done more testing. One of the reasons why they say and i think i can say this, deborah, very strongly one of the reasons why we have more cases is we have done more testing. If we go to one of these countries that have four more people than we do that have the problem, if we did that testing proportionately, there would have much more cases. We have more cases because when we have much more testing. People sit home, you dont know about it. 790,000 now done 1, tests nationwide, more than any other country in the world. Hence, we have more cases. That number is growing by nearly 125,000 people per day. Think of that one. It has grown by 125,000 people per day. I told you about south korea. Faster wetly also have, they say, the most accurate of tests. Cvs is launching, and they have been great, two new drivethrough testing sites in atlanta, georgia and providence, rhode island. Each location will be able to test up to 1000 patients per day. Nothey call it the ultrafast. It is very accurate. Abbott labs, they have been fantastic. We are also speeding urgent Economic Relief to the American Worker and families and employers. As of today, tens of thousands of Small Businesses have applied for more than 3 billion in relief under the Paycheck Protection Program you all have been reading about. It has only been going for a couple of days. Its really been performing well. A couple of little glitches, minor glitches that have already been taking care of. These funds will result in nearly 2 million jobs being preserved. We are taking care of our workers. Small businesses and our workers. Nearly 3000 lenders have already made loans under the program. We are signing up additional lenders very quickly, rapidly. Community banks have been very responsive and larger banks are also stepping up. If we run out of funds, by the way, we are already preparing because it is going so fast for the Small Businesses and their employees. We will ask congress to refill it immediately. The banks have been great. Bank of america was right up there at the beginning. J. P. Morgan chase was has been great. After the first day, they really came through. But the Community Banks have been fantastic. As we announced last week, we are providing 100 billion in direct support for our hospitals. Billion, tranche, 30 will be treated this week. I want to say one other thing we love our farmers. As you know as of april 1, the china trade deal, 250 billion they purchased 250 billion from us, if not more. Of that, approximately 50 billion is expected to be with our farmers. So, it kicked in as of april 1. We will see how it goes. It seems like they are buying so we will let you know how that is going. They are buying anywhere from 40 billion to 50 billion of our agricultural product. That will have a huge impact on our farmers. We are watching it very closely. To fight the medical war, we have mobilized the unbeatable it is unbeatable strength of american determination, ingenuity and compassion. I got to see that when i spoke to the great science companies. They are scientists. We have seen businesses, charities and private citizens making generous donations. So many people are making donations. We have seen states and cities supporting and helping each other and caring for our citizens. We have seen americans of all backgrounds and beliefs uniting together to answer the challenge and rise to the moment. Thats what they are doing. Inspired, we have been by the exceptional courage of the doctors, nurses, and healthcare workers that are the soldiers of this war. No words can express the complete measure of our gratitude to these intrepid heroes. One cleveland patient credited his medical team for not only saving his life through their skill, but forever changing his life through their example of selfless devotion. So generous he was with his statements. He talked about their bravery in an area that is in such trouble. An area of the hospital where people were dying. He talked about their bravery. Another survivor in houston said simply, i will consider them my angel forever. I will consider them my angels forever. As our nation endures the depths are alsond grief, we witness to the summit of american virtue, character and courage. With the love and dedication of every american patriot, we will win this battle, we will defeat this enemy, and we will rise from this present crisis with new strength, unity and resolve. Thats whats happening. Tremendous stories are coming up of this horrible moment, very dark moment. While andng 151 for a it got up to 160 182, as i announced yesterday, 182 countries are being attacked by this virus. So, i just want to thank everybody. I want to thank the american citizens for doing a great job. Lets get our and country open as soon as we can. I think it is going to be sooner than people think. Things are going really well. Again, light at the end of the tunnel. With that, i will take a few questions and then mike is going to take over and talk with the admiral, with the professionals. We appreciate you being here. Yes, please. You are asking Drug Companies to provide treatment to the british Prime Minister. What sort of treatment is that . Pres. Trump it is a very complex treatment, things they just recently developed. They have a lot of experience with having to do with something else, but reason for this. Had meetingseady with the doctors. We will see whether or not they want to go that route. But when you are in intensive care, it is a big deal. They are there and ready. We have three i spoke with four. The people within those, you know the companies. I told you the companies, but the people are the greatest in the world. They are at the hospital and we will see. And, they have everything with them, should it be needed. Hopefully it will have to be needed, but should it be needed. I found him, i found boris to be a fantastic person. A fantastic, warm, strong, smart guy. He loves his country. You see that. He fought like hell for his country. Stuff,ve care is big really big stuff. You are asked about this as well, but now that he has been moved to intensive care, does that give you or the Vice President additional pause . Pres. Trump i dont think so. Mike had his testicle of days ago. I had my test a couple of the had his test a couple of days ago. I had my test a couple of days ago. Just because questions like that, i think we will probably have quite a few tests. It is not the worst idea. The system of testing now is so quick and so easy. So you were tested again today . You sure you are ok . Im ok. Tests nearly 1. 8 million in the United States that has been done, the Inspector General for the department of health and Human Services released his report today, a survey of more than 300 hospitals across the country. The number one complaint from those hospitals were severe shortages of testing supplies and a really long wait time. Pres. Trump did i hear the word Inspector General . Its wrong. They will talk to you about it. This is her own government. Pres. Trump where did it come from . What is his name . The Inspector Generals report. I dont know his name. Pres. Trump let me know. Find me his name, i would appreciate it. Sir pres. Trump you are going to ask. These are hospital saying they are waiting a week or longer to get testing. Pres. Trump we have done more testing and have had more results than any country anywhere in the world. They are doing an incredible job. Now they are calling us, they want our testing. How do you do the five minute test, the 15 minute test . Give me the name of the Inspector General. Could politics be entered into that . Go ahead. Are you worried about retaliation to your decision to ban the of medical goods, like india Prime Minister modis decision not to export hydroxychloroquine to the u. S. And other countries . Pres. Trump i didnt hear that was his decision. I know he stopped at for other countries. I spoke to him yesterday. We had a very good talk. I would be surprised because india does very well with the United States. For many years, they have taken advantage of the United States on trade. I would be surprised. He would have to tell me that. I spoke to him sunday morning. I said we appreciate you allowing our supply to come out. If he does not allow it to come out, that would be ok, but there may be retaliation. Why wouldnt there be . Thank you. The Paycheck Protection Program has got enough to a confusing start. Wells fargo has stopped taking applications. Bank of america pres. Trump not anymore. Taking applications from pres. Trump bank of america has been the leader, taking tremendous numbers of applications. They wanted to have a slightly different application. They wanted to have a little different information, but bank of america has been a leader. They are number one in terms of applications. I wish you would ask the question differently. Why dont you say it has got enough to a tremendous start, but there are some little glitches which have been worked out . It would be so much nicer if you do that. But you are incapable of asking a question in a positive way. It is already done. Its taken the measures. We may even do a different system. Not with this. We will probably have to add more money to this to save and to keep our Small Business is going and to keep the employees of those Small Businesses working. But, it is such a positive event and you ask it in such a negative way. I wish we had a fair media in this country and we really dont. Speaking of unfair, go ahead. The acting secretary of the navy told the crew of the uss roosevelt that the captain was too naive or too stupid to be in command. Is that appropriate . Pres. Trump i have not heard it exactly. I heard they had a statement that was made. If that was the statement, it is a strong statement. Look, the letters should not have been set. And certainly, they should not have been leaked. This is a military operation. I have heard very good things about the gentleman. Both gentlemen, about both gentlemen. I may look at it only from the standpoint that something should be resolved. Im hearing good things about both people. I may just get involved, if its ok with you. You know what, you have two good people and they are arguing. Believe it or not, im good at settling arguments. Im good at settling these arguments. I may look at it in great detail and i will be able to figure it out very fast. It is a rough statement. Look letters should not have been sent to many people unclassified,. That was a mistake. Its a mistake that shouldnt have been made because its unfair to the families of the people on the ship because they get nervous. And it shows weakness. There is nothing weak about us now. Not anymore. We have the Strongest Military we have ever had. We are not going to be showing weakness to anybody because that ship is incredible. Nuclear powered aircraft carrier. We dont want to be doing writing letters. We dont want to have letterwriting campaigns where the fake news finds a letter and get a leak. Excuse me. The letter should not have been sent. With all of that said, his career prior to that was very good. So, i am going to get involved and see exactly whats going on there because i dont want to destroy somebody having a bad day, ok . Does that make sense . Ok. Vice president bidens spokesperson said he made some suggestions about actions that can be taken. Pres. Trump we had a very good talk. We agreed we were not going to talk about what we said but we had a very good talk. It was a warm talk. I enjoyed it. I hope he enjoyed too. It was short, 15 minutes. Suggestions . Pres. Trump he had suggestions, it doesnt mean i agree. Certainly, he had suggestions. I told him some of the things we were doing but the conversation was a very friendly conversation. You mentioned other members of your task force have mentioned over the course of the next few weeks is going to be a very difficult time for our country in terms of fatalities. Pres. Trump it will be a difficult week and a half. That are number of governors that are close allies of yours that have refrained the spark to have stayathome orders. Dr. Fauci, who is on your task the states that dont have stayathome orders are putting themselves at risk and the country at risk. Pres. Trump if dr. Fauci said that, i would be inclined we do have a constitutional problem in doing that. It is a doubleedged sword. I can do it, but it is a constitution you can say federalist, lots of Different Reasons where i would rather have the governors do it, make their own determination. Theyre smaller not in all 100 , but i am not sure dr. Fauci said that. You want to Say Something . Dr. Fauci i had good conversations with the governor of nebraska and the governor of iowa. Its interesting that functionally, even though they have not given the strict stayathome, what they are doing is really functionally equivalent to that. Shery you have been listening to dr. Fauci right now at the task force in the white house. You were previously listening to President Trump. Saying the next week and week and a half will soon show a big surge of virus cases in the United States. Saying most of the critical medical needs have been more than that for now. He is saying 3m will produce more than 55 Million Masks per month. Lets go d. C. And our reporter with the latest from this task force and the update on the u. S. Cases. We have now seen 10,000 deaths in the u. S. Justin, thank you for being with us on the line. What was surprising to me in the last few press conferences from the president was his very combative tone when it comes to this virus. Talking about people being attacked by the virus. Talking about wars and so forth. How do you categorize his rhetoric and how is that fitting with the American Public sitting with the American Public . Justin we have seen some variation in his rhetoric. There has been time when the president has more soberly explained what he sees as a real threat to the American People and pushed forward with his concerns, his decision to move forward with a nationwide lockdown for the next month. Especially time, when questions steps his administration did not take in preparation for the coronavirus hitting the u. S. I think the president has made very clear he is not interested in revisiting those decisions. But at the same time, i think he has tried to adopt a more sober tone when discussing some of the thes on the ground towards virus and try to project an optimistic tone about treatments, vaccines. He says he is an optimist, obviously. Some of the doctors have taken a different approach in terms of the potential cures for the disease, saying we need to wait. Given we had the markets rallying on these hopes that some of the global hotspots are starting to see some sense of, if not flattening of the curve, o at least a lessening in the intensity of infections we have seen. Is that also the case in the u. S. . What is the latest we know in terms of infections as well as testing capabilities which the president was speaking very favorably about . Justin the president said 1. 79 million tests have been done in the u. S. While there is a fear that tests here are above the level or the results are above the levels of continental europe, still we are seeing some flattening of the curve, particularly in new york and new jersey which are the scary hotspots in the u. S. The real question is if those numbers hold out there was a lull over the weekend and there is a question if that reporting will have an uptick or we might be seeing a plateau at the top of the curve. Shery that was justin sink, our washington reporter, with the latest from President Trumps press briefing. Plenty more to come on daybreak australia. This is bloomberg. Shery u. S. Futures Holding Steady at the moment after we saw the biggest surge in almost two weeks for the s p 500. We have seen more optimism about the Virus Outbreak easing in some of the worlds biggest hotspots. Joining us now to discuss is rebecca felton, senior portfolio manager. Great to have you with us. Tell us a little bit we have seen this easing of the fears over the coronavirus at least in the markets, but given we really dont know where to go from here and how they outbreak will evolve, how do you manage risk . Rebecca well, all of us like to feel as if we are in control and there is nothing about this we have seen before so how do you model . We believe right now one of the most important things we can do is to be objective and institute the Risk Management practices we have in place all the time. What we have done in our balance strategies is rein in risk a bit. We have gone underweight equities relative to the benchmark for the first time in several years. We prefer u. S. Equities. I think investors at home, it is different for everyone. We believe right now the most important thing any of us can do as investors is look inside, speak with our financial advisor, and make sure we know what we own and our risk objectives and investment objectives are met, right . Atdi when you take a look sectors or companies with various exposures to the coronavirus and what this great uncertainty in the months and years may look like, are there any sectors that will be relatively well protected and are fundamentally sound to get through this . Rebecca well, that is a great question. I think that is one of us one all of us wrestle with. We expect staples to do well as we have seen the grocers and those types of things are holding up better. We have lessened our exposures and things like Airspace Defense and discretionary because it is very difficult to determine as the Economic Data comes out. You look at the unemployment numbers last week, that data was as of midmarch. We know that every data point that comes out is going to get further and further into the mix in terms of layoffs, income and cash flow. I think it is tough to measure and that is why the whole idea of Risk Management is included. Staples will be a favorable place. Some of the industrials and discretionary, not so much. Shery what are you going to be watching for guidance for management and wrote in order to gauge estimates here . Rebecca right now, i think the market is sitting at a 16 forward multiple and that is predicated on the fact, we came into this quarter, we were looking for earnings to be up Single Digits and now we know it is likely to be down Single Digits. 5 enues sa at the 4 , range. When we hear management talk about impact and talk about cash flow and how far out they expect this to be an impact, that will be the most important. I think right now, it is hard to see with earnings not having started with that number will ultimately loobe. Haidi rebecca, we will have to leave it there. Thank you for joining us. Haidi australia seems almost her and to enter its first recession in nearly between nine years because of the covid19 crisis. Little expectation the rba today will make any changes at the monthly meeting. Watching for any clues on the depths of the recession and the strength of the recovery that could come. Joining us is the chief economist in sydney. Great to have you. What are you looking for from guidance, terms of and the scent any of us could be guided, just so much uncertainty in the forecast to come . I think that is right. We are living in an environment where the data feels really dated, things are moving very quickly. Forecasting is really hard. The bank will not be updating its forecast so i dont think we will get much indication on how they are seeing exact numbers play out. I think what will be really interesting is any commentary around how they feel the first round of purchases has gone through the first few weeks. We have that meeting a couple of weeks ago. We have the minutes from the meeting. Now theyre getting into the rhythm and flow of the yield curve controls so those comets will be very interesting comments will be very interesting. Haidi in terms of how much stimulus we have seen from the government, do you think that is sufficient . Theres also if you look at what happened and 2008, in 2008, it could be upside risk in the sense of the money being offered, but the economy may not need it. Is there a risk for an upside surprise with australia being exposed to china, benefits strongerthanexpected from the chinese recovery . Jo interesting point. Im not sure we can draw too 2008 mparison with 2009. That was a financial shock that had the economy, not a health crisis. We came through that in a one in 100 year boom. An investment mining boom came behind that. We still see quite elevated Commodity Prices to the extent china stimulates its own economy. That will be positive. Where we are likely to see another Mining Investment boom because we have increased capacity so substantially. I think the other issue is if you think about chinas own path, their production obviously requires Global Demand. Globally, looks like we are going to see a recession this year in most countries. I dont see we are going to see what we saw in 20082009. Shery jobs of course front and center for the australian government. After what we saw in the u. S. And u. K. When it comes to jobrelated data, how bad could it get for australia . Jo sure. So, obviously, we have seen a really sharp increase in the number of people that are losing their job. I think the governments announcement of the new job subsidy last week is Game Changing in terms of where we see that peak in unemployment. That subsidy tries to keep people on the payroll basically. They are on the payroll even though they may not be working very many hours or maybe no hours at all. What that will do is reduce the hours worked and it will see higher underemployment because people on the payroll will actually technically be employed. I think the Unemployment Rate which has been the low fives for the last year or so will peak around 8 to 10 . Prior to that subsidy, most expectations between 15 and 20 . Shery so, how much haidi how difficult will it be to unwind some of these measures . Jo look, i think that is a great question. Quite a few of the stimulus measures that we had over the three stimulus packages are temporary. They have that six month window where the increase in job seeker payments is a six month timeframe. I guess we just dont know. It does feel like the risk is perhaps that needs to be extended. I think at the end of the day, this is support have to provide to the economy. Shery how important is the timing of the stimulus and it really flows into the economy . How fast could we see that happening . Jo i think that is actually really critical. We close our economies down really quickly and australia and obviously offshore, where they literally closed particular segments of the economy. One of the statistic sixs i talk about is research that shows a quarter of australian households have less than income in the bank. Policies in place are trying to get that into the economy quickly, but we are using the existing framework, tech system and Social Security framework. The first 750 additional payment for those who receive welfare will hit Bank Accounts this week or last week. We have the first round in and most of the stimulus will hit over the next month. Haidi is there a more targeted way that this shutdown of the economy could have been done . We had a guest yesterday who was heavily critical and pointed to examples by singapore and sweden for doing it in a more targeted or relaxed fashion. Is there an argument that could be made that the effect of the economic shutdown will be as bad as a potential health care pandemic . Jo i think we just dont know. Theres no blueprint, right . Weve never had a Global Health pandemic hit an incredibly connected world that is actually still dealing with the overhang. There is no economic blueprint. I dont think there is any right or wrong. Different economies have different economic frameworks. Even in singapore, we are seeing some x of the ration in their curve again acceleration in their curve again. I guess that is something we will look back on in time and discuss. Jo masters, thank you for your time, joining us from sydney. Coming up next, japan is set to declare a monthlong state of emergency and ready the economic stimulus package. We will have the details. This is bloomberg. Shery you are watching daybrek australia. The first word headlines Prime Minister Boris Johnson is in intensive care in a London Hospital after his coronavirus condition worsens. He was admitted on sunday after spending 10 days in selfisolation in downing street. He became more seriously ill on monday afternoon, although he remains conscious. Johnson has asked the foreign secretary to deputize if necessary. Virus cases continue to slow in italy with the Lowest Reported increase in 20 days. However, italy still has the highest number of infection related deaths in the world. Germany is planning what it calls limitless Financial Aid for Small Businesses as part of its response to the virus. Chancellor Angela Merkel is warning the eu faces the biggest challenge since its foundation. Recession fears rising in india as the dominant Services Sector contracted for the first time in five months amid a nationwide long down lockdown. The pmi slipped to 49. 3 last month from 57. 5 in february. Manufacturing activity is also slowing, weakening the governments attempts to remove the economy. Last month, the r. B. I. Cut rates and announced a new stimulus. In southeast asia, economies are stepping up their response and boosting cash payouts and esteem of this package, bringing total spending of 60 billion. Indonesias marketing bonds to finance relief measures. The virus related deaths rising to the highest in asia after china. The philippines may extend its lockdown to april 30 as it is open to off cycle action to maintain stability. Global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts. Im karina mitchell. Shery thank you. Lets get a quick check of how oil markets are trading. We saw oil slumping in the u. S. Session, as we saw buildup in storage in the u. S. At the storage hub in oklahoma, the biggest buildup since 2004. Also, concerns that thursdays opec meeting among producers would not yield enough production cut. In this session right now, we are seeing oil rising 2 , recouping some of the losses we saw. Take a look at treasury futures. We have seen bond prices settling near lows following a threeyear sale. The 10 year yield saw the biggest surge in nearly three weeks. Take a look at the bloomberg dollar index. We saw a little bit of stability in the dollar overnight. There is optimism among investors that the infections of coronavirus are starting to stabilize. We are seeing it unchanged at the moment, but in the overnight session, it was stronger against the pound and japanese yen. Bobbyminister singh joe is saying hes ready to shinzo abe is ready to declare a national emergency. Kathleen hays is watching this. Lots of money to be thrown and precautions to be taken but critics saying japan has been slow to react. Kathleen that is true, but obviously, Prime Minister abe has seen enough of an increase in virus cases that he is taking these steps. Tokyo, osaka, five other prefectures, seven of the biggest in the country. A stimulus package of 108 trillion. I will give you more details. The separation will give power to local governments to take steps to continue. He told reporters yesterday we are not changing japans policy, but strengthening it. I want to make sure even if an emergency is declared, we will not impose a lockdown that has been done overseas. Not taking a quite that far. Remember, of all g7 nations, japan is still by far and away has the lowest number of cases, the lowest number of deaths. As Prime Minister abe sees these cases continue to accelerate in other countries, he wants to make sure japan stays in a state which is not as bad and does not get as bad as other countries have. Abei the stimulus packages announced is bigger than expected. What is in it and who was expect it to benefit . Kathleen they are hoping everybody will benefit that has been hit by the virus. That is different than what the ruling party was talking about a couple of days ago. Trillion of gdp, 6 handout to those people that have been hurt directly by the virus. Increased subsidies for companies. Oneyear year tax deferral of businesses. Property tax cut to 0 . Its like around the world, wee dire forecast for economy shrinking. Citigroup is predicting it to shrink 20 this year. Steps are needed. This is why the stimulus package is being set up. People are waiting for more details. Today, we are waiting for more details on the emergency that abe has declared to see what he elaborates on and what more we might learn about the steam of this package. Shery some big economic numbers out of japan today including cash earnings and household spending. What are we watching . Kathleen we are watching both of those. Those are both for the month of february. Like so many economic numbers we are getting, and especially for japan where the virus cases have been slower, we are going to see some weakness and household spending. Labor cash earnings, the wages and bonuses, those are expected to stay on the weak side. The boj has already announced its own stimulus step. They are expected to buy more benchmark bonds. A lot of analysts say they will continue to buy etfs until the nikkei gets back above 20,000. Important is very just like the dow jones in the u. S. The nikkei is important to japanese businesses that may not even be big investors. Dont doubt the boj. It may look like they are out of ammunition, but they have others as well. Kathleen hays, our Global Economics and policy editor. We do have the japanese cash Earnings Data among other data points out later today. We have more on japan and the state of emergency with the director of Asian Studies who will be with us later on. This is bloomberg. Haidi Samsung Electronics should give the tech world its first glimpse in the Coronavirus Impact globally when the bellwether reports preliminary Quarterly Results later. Stephen engle is digging into what samsung may report. He joins us on the line from hong kong. We know there has been a lot of shipment demand. All of the videoconferencing, Remote Working is going on. That be enough for samsung . Stephen in the current quarter, perhaps the First Quarter. We might see sequentially a flat operating profit, the same as the Fourth Quarter because of the demand you are talking about those data chips centers need samsungs chips riding the surge in on that activity as millions of us are home. Micron give a strong outlook because of datadriven demand. But is this just shortterm . The epidemic driving demand in the chip business. What about the other areas of the business went of course the Global Economy is said to be heading towards recession, if not already at recession . People familiar with internal discussions within samsung say the worst Case Scenario for them as if this pandemic persists into the second half of the year, then samsung could miss its own 2020 revenue projections by as much as doubledigit percentage points, according to those sources. Look at it. Samsung is the Worlds Largest maker of memory chips, but also phones, displays and appliances. They are exposed to the coronavirus shock like few others. Haidi given all of that, what sort of results and what sort of guidance should we be expecting today . Stephen the guidance is really key, isnt it . We are expecting samsung to post these are preliminary numbers for the First Quarter they are expected to post some sort of revenue growth, albeit slightly. The big question is will this initial surge in chip demand really offset at all the unprecedented Global Economic shock . Bloomberg economics is saying Samsung Electronics could have kept its First Quarter operating profits largely steady at 6 trillion yuan versus 6. 2 trillion yuan a year ago. The big question is about what are the other divisions going to be doing . Like Hana Financial slashing Sales Forecast for 2020 from 300 Million Units to 260 million. Oled Panel Shipments could plunge 12 . Keep in mind, the olympics have been postponed. Euro 2020 soccer tournament has been postponed. That will depress tv shipments of upwards of 6 . Shery stephen engle, thank you for that. We will have more on the samsung earnings with the korea head of Global Investment daniel yu and mark yuman a little later. For now, a quick check of the latest business flash headlines. The ceo of videoconferencing up zoom is embarking on an apology tour to reassure users they are working on security issues. Zoom has seen a 24 increased to allow millions of users since the start of year. The app has been hijacked by internet trolls, leading into forecasts will be shortlived. Airbus is causing production as itssites in germany and factory in alabama as it looks to adjust to the slowdown in demand. The playmaker says operations will shut down for part of this month while production at mobile, alabama where a220s will320s are made, they close until at least the end of april. Boeing is suspending work at its plant in south carolina, shutting down the last of its commercial jet factories. Production will stop on april 8. The Company Closed its seattle and it willmarch 23 remain closed indefinitely. Boeing has been hit not only by slowing Global Demand for air travel but also the grounding of the max 737. Is meetingle challenges on meeting consumer demand as production of the worlds Biggest Food Company and Beverage Company slows down. The chief executive spoke to bloomberg a little earlier. This is an unprecedented time. We have seen very Strong Demand for some of the essential food and beverage products, especially in those countries that have been hardhit. We have three priorities in this period. The first is health and safety of our employees. We can make a positive contribution here. Next, Business Continuity is key. Even under adverse conditions, we are trying to maintain manufacture of our food and beverage products. With the presence in 187 countries, it is very important for us that we also give a helping hand above the call of duty in the communities around the world where we are present. On the Business Continuity, mark, do you have all of your raw material supply guaranteed . Mark the minute we saw this crisis spread, we were trying to improve inventory levels at all levels of manufacturing. Working process and also finished goods. Obviously, there was very little lity is what isi required right now. You do have logistics constraints. Sometimes even that takes longer or capacity is limited. It is really all about managing in a very tightknit way this crisis and showing flexibility. This is what our teams are focused on right now. How do you actually see the coronavirus operate changing Consumer Behavior in the longterm . Mark longterm, it is probably a bit far out right now. We are very shortterm focused at the moment to meet demand where we can. This is the most essential service we can provide to our consumers. What we are seeing from china, for example, some improvement aftermath for the Strong Demand of valley products and quality products, maybe less on premium. Given that we are of course in a recessionary environment right now, that is also a safe bet for some of the other communities as we emerge from the Immediate Health care crisis. In the shortterm, based on the demands you are seeing for various products, are you stockpiling any . Have you increased production of certain products, like water, like coffee, for example . Mark generally, we are trying to produce flat out in the face of Strong Demand. Keep in mind, logistics limitations are kicking it. Presence asemployee a result of illness or precautionary measures. Protocolced safety that we need to run at our plants. We are not always able to give it 100 of the capacity we would have under normal circumstances. So, we are working extra shifts where we can. We are trying to ramp up manufacturing where we can, but keep in mind, this is a very challenging moment. Just getting to the normal levels of manufacturing is pretty Outstanding Achievement right now. Shery that was nestle chief executive Mark Schneider speaking to bloomberg. Coming up, we get the markets outlook from daniel yu. They help us break down samsungs latest numbers. Look lets take a quick at how the markets are trading in this part of the world. We are getting trading underway in new zealand at the moment. We are seeing upside when it comes to trading in kiwi stocks, up 2. 5 after the Prime Minister said the country will not exit from its fourweek lockdown plans to combat the coronaVirus Outbreak. Numbers have stabilized in terms of new infections, but every day of those four weeks will be crucial despite the economic pain. We are seeing upside when it comes to trading in the asx. World futures showing we could have gains of over 2. 5 , building on that 4 plus gain yesterday. It is rba decision day. Just waiting on more guidance on what the economic fallout will be from the coronavirus. Also watching oil staging a bit of a rebound ahead of opec. This is bloomberg. Welcome to daybreak asia. I am shery ahn in new york. Haidi i am haidi stroudwatts in sydney. You are watching daybreak asia. Asian markets look likely to investors seeing signs that reported deaths in virus hotspots are easing. It closed at its highest since march 13. The coronavirus has put the u. K. Prime minister boris