This is the one that went negative. 1. 46. Ading at the International Benchmark is . 62. That is what we have at the moment. The oil prices the biggest toy of the day. Thank you very much for joining us. In some ways, this is manna from heaven for shippers, isnt it . Fuel is a Ship Operators single visit biggest expense. Shippers are benefiting from Lower Oil Prices, that is for sure. Their ships currently being used for storage. Haslinda how many more can be expected given that there will be more of this in the coming months . Brent crude futures fell by about 9 . For the moment, i would say the outlook is pretty bright. Particularly on the new york stock exchange. Haslinda how much is there an term of freight rates, tanker rates . That is a crystal ball that i am not qualified to see. The future looks pretty good. Rishaad Something Like 95 of global goods are transported on ships. What is the mind of the moment about the environment . I think the biggest single problem that we have is putting people before profits. Of them as the Unsung Heroes of the supply chain. It is very tough times for ship owners. Containers are off by 25 . Drydock has come back slightly. We have a lot of challenges. We are very optimistic. Rishaad are you seeing any of your members looking to scrap ships with regard to what is going on with the pandemic . And the huge Global Demand falloff . Has been a reasonable level of scrap. It is recycling. This activity has come to basically a halt. A number of ships have been demoted. The job has not been done. We hope this industry will open again soon and there will be less scrapping. This should be pretty good for shipping. This the Current Situation compared to the one back in 2009 . The situation today is worse. The change has been so dramatic. Sure. Worse, for haslinda our thanks. Headlines with Karina Mitchell in new look york. Who is warning against optimism, saying the best worst might be at the con. The crisis is not over and worse may be ahead. Politicians and advisors do not understand the nature or danger of covid19. Us. He worst is yet ahead of they have the wrong conclusions. They did not know it and got into trouble. A six straight day in new york of decline. Governor andrew cuomo says the infection peak may have passed. Dr. Anthony fauci is warning people protesting against the lockdown that reopening the u. S. Economy too soon may cause more serious harm. Where the coronavirus first reported was rejecting any role in spreading the infection around the globe. Reports from soul suggests the north Korean Leader may be seriously ill. That insights a website quotes a person in the north saying he underwent Cardiovascular Surgery earlier this month. North korea watchers have been speculating after he missed several political meetings in recent days. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. This is bloomberg. Donald trump saying he is likely to sign in order to temporarily suspend immigration to the country. Lets tell you what we have coming up. More science emerging that this pandemic is slowing and some of these hardhit areas. But is it too early to reopen for business . Theill put that question to director of the Harvard Global health institute. This is bloomberg. Rishaad this tweet coming through from donald trump saying he needs to protect the jobs of american citizens. He says he will be signing an executive order to temporarily suspend immigration into the United States. On the markets we have the dollar index up. This coming a bit out of left field. Haslinda lets get some reaction. Do you think that is the right move . We are in the middle of a Global Pandemic. The u. S. Has been very hardhit. I have seen no evidence that immigration is helping or harming our ability to fight the virus. Or taking jobs away from americans. I think this is not truly related. I dont see the relationship at all. You say a vaccine is not the solution to covid19. You say it is testing. What is behind this idea . Is notver said a vaccine the solution. It is absolutely the solution. But it might be 12 to 18 months away. To doably, we want something between now and then. The best way to open up our have seen in we singapore and south korea and elsewhere is a very extensive testing and isolation strategy. It allows the economy to stay open. None of that takes away from the value of the vaccine, which is fundamental. But it is not around the corner. Rishaad what needs to be done next . In western europe and the the, we are getting over worst of that first wave. Not all of the countries and not all of the u. S. New york is getting over the worst of it. We will see substantially lower cases. Certainly by the end of may into june, i expect the u. S. And western europe to emerge in reasonably good shape from this first wave. The problem is the virus is not going away until we have a vaccine. Of the worlduch that has been infected that everyone has immunity. That is at least 12 to 18 months away. We will continue to have to deal with this virus into the winter. You are saying we will have wave after wave of this. Some limitedn evidence that you can be reaffected. Is there any evidence of further mutation . It will come in waves. That is basic biology. When you do lockdowns, you slow down the virus. You are taking out the infected people. We still get these waves, these little bumps. You have to deal with that. Is no wayely, there through this until we have a vaccine. Ones possibly we could have as early as 12 months. Other than that, we will be dealing with this. Im not particularly worried about mutation. Somehowthat would inhibit the development of the vaccine. Tend to mutate toward becoming less lethal. Not always, but that is usually how they do it. We will see where that goes. Haslinda some countries are looking to open their economies. The question is, how do you reopen and stay open what measures need to be implemented to ensure that . There are three three main you want to see a sustained time of declining cases. You want to have a very substantial testing and tracing infrastructure. As soon as you open, transmissions will start going up again. You want to make sure your Health Care System is ready. Even if you do Everything Else perfectly, there is a chance you will get a large surge of cases. It is really that threepronged strategy. Rishaad thank you so much for joining us. Lets get into some action on the korean markets. All of that has been taken back now. We have defense stocks. Certainly when we have uncertainty on what is going on have theh japanese reacting to that. According to one report, the north Korean Leader is brain dead. We have these defense stocks in this world of uncertainty. Rishaad the director general of the who says the worst is yet to come from coronavirus. He says the crisis is not over. Politicians do not understand the nature and danger of covid19. This is quite a stark warning. At a timeparticularly when some countries are looking to lift the restrictions they have put in place. The who director general suggesting there is still a dearth of knowledge and lack of understanding about how this can be spread. Warning about the impact on africa as well. He said u. S. Officials from the very start have worked with the who on this outbreak. There were no secrets. The Washington Post has recently reported that 15 Trump Officials were working with the who sense they were first notified about this. Haslinda lots of countries under lockdown. How many progress of a making . To thee turn our focus u. K. , you have Prime Minister johnson under pressure from business groups to lift restrictions. He is concerned about a second wave. Angela merkel is urging russia not to lift its restrictions. She is saying the option to reimpose restrictions goes through may. In italy, there was more good news. Fewestve reported the new virus cases. The Prime Ministers saying that. Wuhand we have a lab in which has often been blamed for spreading this virus. What is the exact way that the nile came . Denial came . Tv there was state absolutely no way. That was the most highprofile response we have had. Some republicans are pushing the idea that the virus started in the lab. That china may be deliberately unleashed this virus. Rishaad thank you so much. More news is coming out on this scene report that kim jongun is gravely endangered after heart surgery. Some are saying they are unaware of any events in north korea. Unaware of the condition of the north Korean Leader. Quick check on markets. This is what we have at the moment. It is a down story across the board. The at the kospi, one of biggest falters and asiapacific. The south korean yuan falling nearly 1. 5 . Big story has been oil. Lots of more other news coming through as well. Donald trump tweeting that he is preparing at the moment to cordon off the u. S. With temporary suspension of immigration. That lifted the dollar up. Stories likely to be fleshed out. This is bloomberg. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. House Speaker Nancy Pelosi says she wants lawmakers to strike a deal on the latest aid package in the coming hours. To helpins 120 billion Small Businesses affected by the lockdown. It also provides money for testing and medical centers. Democrats and republicans have agreed to the terms of the legislation, which now goes to the senate. Have startedice investigating and Oil Trading Firm after the founder has been accused of hiding 800 million in losses. Of downfall is symptomatic the pressure facing the Energy Sector as demand tanks. He is said to a billions of dollars. Netanyahu benjamin and his rival will share power during the pandemic. This ends a year of political paralysis. Gantz dropped his refusal to work with netanyahu in the knesset. A beleaguered indian tycoon is a step older to being returned to his homeland after a appeal for extradition from the u. K. The court upheld a ruling that would return him to bombay for Money Laundering charges. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am Karina Mitchell. This is bloomberg. Haslinda thank you. Lets take a look at where the markets are. Asia down across the board. Kim jongun may be in Great Condition after undergoing a Cardiovascular Surgery. The white house saying no comment. We will keep you posted. Yuan also on the weakening side. We have futures at 167. Rishaad lets get more market analysis. Thank you for joining us. This pandemic is causing all kinds of unintended consequences. Absolutely. We thought we had a reprieve. Then that happen to the oil markets overnight. Obviously we are getting some very weak oil numbers coming through. What the oil market is doing is causing more optimism further out. I think the market is still seeing this as a shortterm thing. Rishaad are you pricing in optimism . We would not disagree with anyone out there who is expecting a very significant global contraction. From that point of view, you could call us optimists. Of a light ats the end of the tunnel. Numbers are starting to level off. One thing we are optimistic on is the Corporate Credit market. It is certainly an opportunity we will be looking at. You talk about how oil futures look. They are still bringing in 20 a barrel. A recession. Ng at how do you position for that if we are looking for a deep and long recession . I think that is the thing. Looking for those markets in the world where the pricing is not. Onsistent chanceshe most recent is in inflation markets. We do think the inflation markets should be pricing in a little bit more risk. We see a lot of fiscal stimulus. Eing thrown with the growth of Central Banks, it really is more appreciative that we are getting fiscal policy and Monetary Policy working in tandem. This is something we thought we would never see. Area of what the current levels of inflation are currently. Have seen the rba, the fed, and other Central Banks reduce bond buying. What do you think of that . Do you see a situation any soon where they could stop there Bond Buying Program entirely . It is very interesting. They were very aggressive in their initial response to the volatility. As conditions have moved to a more normal functioning, they are starting to step back. The rba is telling the market to expect less frequency. Fairlyee a circumstance soon where the r. B. I. Might not be buying anything. Central banks will have to come back at some point. We wont be surprised to see some of them dropped to zero. How much is what you do now about Wealth Preservation than accumulation . We are getting some headlines concerning kim jongun. U. S. Officials studying the north korean line of succession. The north Korean Leader is in a critical state after heart surgery. That is breaking news coming through. There is no question that during the heart of the volatility last month, the search for liquidity and cash was the first port of call for investors. Things have settled down now. But we have seen in the last couple of weeks is suggestions of being cautious. We are talking to clients that existing Corporate Credit markets. Rishaad also getting some headlines that this Company Based in the philippines will post a record loss. That is what the forecast is. That is currently where we are. These reports coming through about kim jongun undergoing a medical procedure, fueling speculation about his health. We had the cnn report that he was in grave danger. Beings something reflected by u. S. Official who does not want to be named. They have information that the north Korean Leader is in a critical state. They are studying the north korean line of succession. We also have him missing one of the biggest birthday bashes for his grandfather, the eternal leader of the country. We will have more on that story and the latest on north korea coming through. We have corporate guidance at the moment not being a ray of sunshine. Haslinda lets take a look at where markets are. Rishaad we can have a look at how these top stories are playing out. We have so much coming into the bloomberg terminal. What is happening in north korea, oil prices, coronavirus. But see how this is all playing. Ut it is a lot to be digesting. Haslinda lets get to this developing story. U. S. Officials now saying we have the information that kim jongun is in a critical state. Take us through the latest developments. It is a very fluid situation right now. We are getting multiple reports. We are learning that perhaps he set a Cardiovascular Surgery recently. Speculation mounted after he missed one of the biggest days on the north korean calendar, the day in the sun holiday. It marks the birthday of his grandfather. We are getting reports from cnn that the u. S. Is monitoring intelligence reports that he may be in trade grave danger. The white house is officially declining to comment. You have to read a little bit into what that trend might be. We are hearing that he missed a celebration of his grandfathers birthday. He has made 17 public appearances so far. North korea has been curbing large gatherings this year to prevent the spread of the coronavirus. They say they have zero cases. Many people suspect that is not the case. North korea shares a long and fairly porous border with china. Lots of trade and smuggling going across the border. Last appeared in public at a government meeting four days ago. Are waiting for any kind of confirmation of his health condition. Of the north Korean Leader is one of the states most closely guarded secrets. The thing is the uncertainty should he perish. Is, is there ags line of succession . We are not sure who it might be. We have to look at who might be relatively elevated in the chain of command. That is his younger sister. She burst on the International Scene back in february of 2018 at the olympics. She was the envoy to the olympics. He purged his inner circle and elevated others including his younger sister. She is a rising star. She took on a number of roles in the north korean government. Toluding being responsible Donald Trumps various overtures and letters and other means. She was recently reappointed to her position as a alternate to the politburo. She has taken a larger role under her brother. We can only speculate on if that means she will be first in the line of succession. Haslinda thank you. Our chief north asia correspondent. Profit guidance is vanishing. Other metrics investors are using. This is bloomberg. Rishaad we have various reports coming through that kim jongun is in critical condition. After heart surgery. Theave a new agency quoting south American Government saying this is not true. U. S. Unnamed spokesman saying they were aware of the north Korean Leader being in a critical condition. Here you see some defense of stocks to the upside. Get to the markets and have a look at how all of these tops toys are playing out. So much to be digesting at the moment. Lets kick things off with korea. If we have this report, i session lows on the volatility index. I am looking at some of my data here. Coming up below on the kospi index. Kospile bit high on the 200. When you look at the uncertainty surrounding what will happen on the korean peninsula. Encouraging that this comes out most pronounced. The korean yuan is down the most in about a month. We have a chart that puts this into context. You have earnings coming in. You have this global recession. This is all coming on top of what you usually have anyway. Developing story, many angles to this. Sending markets all over the place. Why are you watching the hong kong dollar . Interesting one. We dont normally talk about it. But when we do, there is usually something happening. It has traded strong. For all of this year. Strongar the extremely and of the trading scale. A lot of this comes back to the fact that when you have rates here in hong kong, we will get an update on the libor rate and about 20 minutes from now. Watch for that one on the neck show. The premium over libor is the highest it has been in three months. It is one i have been tracking all week. Is a story in and of itself. Rishaad tell me about oil. That was a big story at the start of the day. It certainly is a huge story. Oil is quite something. Never in history have we had a negative oil price. Absolutely. When did you or me or anyone on our team imagine that oil would come back to this . Certainly with what is happening with the contract. This oil story has been talked about substantially. It is safe to say that. We are normalizing because the main contract is confusing. We are still trading. We are coming off the lows for the day. Open ofoving into the india and thailand. Haslinda thank you for that. Lets look at the headlines. The ceo says he will sue softbank after it reneged on a 3 billion offer to buy shares in we work. That is in a lawsuit filed by independent directors earlier this month. A was also to sell almost billion dollars in shares as part of the offer. It would raise capital for the Office Sharing company. That is income of just 3 million per day. Because of the coronavirus, daily visitors are falling to less than a few hundred per day. Rishaad dont miss these big guests coming on later today. The president of the u. N. General assembly. Haslinda almost 11 00 in new in mumbai, im haslinda amin. Rishaad im rishaad salamat. Op stories, equity markets ropping for a second day, epic slump in oil, reports that kim might be seriously ill. Economies. Eopen the w. H. O. Warning that moving oo early could cause even more harm. And Virgin Australia collapses s the Global Pandemic slashes demand for air travel. Richard branson is also worried the future of virgin atlantic. Haslinda asian markets are red board, the headlines in the past hour and out of 1. 7 , down by as much as 2. 5 . Have cnn reporting that kim in grave uld be danger, he went for surgical ular procedure. There is information that kim is in a critical state. That the ard seoul saying the true. Ts are not yuan is 1 down and oil went g headlines, oil negative for the first time ever, the concern that the world is running out of space, willing to pay as much as 40 for their to take crude off hands. Looking at futures due in june, 21 a barrel, contract expiring in july at or so. 25 rish. Rishaad looking at what is happening with the Ripple Effect f all of this, this is the picture for equities in this part of the world and only one see it 2. 3 for the hang seng. Today, disappointments about the downgrade and extend the social distancing in this another two weeks. Across the board. Lets look at what we can expect mumbai, 43 minutes away from hat and looking at the futures contract in singapore, likely to open significantly down 2. 2 . Rupee facing at the moment more Dollar Strength with the report coming through from korea, we see a spike up in the dollar weak at 76, rupee on the bond market, a move to upside, the 10year yield by 14 basis points. Marketwise. We are first word newswise as we get to new york. Have been reporting the u. S. Says it has information Korean Leader kim jongun is critical after undergoing heart surgery. He was in hospital last week and washington is looking at possible lines of succession. However, the south korean government says reports are not true. Watchers north korea have been speculating about kims health after he missed meetings in ical recent days. The World Health Organization is warning against virus optimism aying the worst may be yet to come. The director spoke as countries discuss how and when to open their economies. He says the crisis is not over worst is ahead saying many politicians and advisors do ot understand the nature and danger of covid19. Singapores saw its highest of virus cases on monday, 1,400 new infections, the figure illness among my grant workers in dormitories and indonesia is imposing urgent new testing and tighter social restrictions as infections there quadrupled since the start of april. Highest toll is the outside of china. In the new york state where the since the start of the month showing a sixth daily decline. Governor mario cuomo indicates the infection peak may have passed. However, President Trumps top pandemic expert Anthony Fauci is warning people protesting against the lockdown and reopening the u. S. Economy too more serious harm. In signs of the virus easing europe led to resuming work at an engine plant that had been for a month. Germany had 146,000 infections with 4,600 deaths. France had 547 new deaths linked to the virus making it the to record more than 20,000 fatalities. It now lies behind only italy, and the u. S. Global news 24 hours a day on on tictoc by bloomberg, 120 countries. Corina mitchell. Aslinda rapidly filling American Storage tanks and the final trading session, lets in founder and chairman of from that joins us now singapore. Always good to have you with us. Now, what did we see . Was that just a technical blip could we be seeing the june contracts going the same way . Well, actually, you know, aslinda, the last day when the contract turns over which is asically yesterday and today depending on what time zone where looking at, thats markets go haywire so what happened in that period of time an indication of the state of the oil market. Were low ate prices 37 and then came back again to moment is plus one or Something Like that. Contracts, 21, july 25, 26. I think that there will be an because of the average benchmark, h is the o we may get a substantial reduction but at the end for us in asia, what we care w. T. I. . We care about prices at 25, yesterday almost the same, today the same, so that of ge which came because this specific prompt issues out of storage in the u. S. Is not a issue, not yet. When trump says short time,r a very you say . I think that oil plunge is ery short term insofar as the u. S. Concerned but, again, everything which relates to all asia and the rest of the told is related to that, not w. T. I. What happened to w. T. I. Would impact on the price. Contract today is 19, prices are about 25. Go down that price to a 7 down to about 10 barrel. That is because of the excess market. In the but what happened was the u. S. Was more of a glitch yesterday, of the month change of ontract from may to june which every time it happens, the market goes crazy there. W. T. I. , what you make about demand . Actually, the producers can turn off the taps. In the u. S. They cannot because oil produce gas and together and these things associated volume, its hard to off. Things if the price of oil goes low, he saudis would stop producing and the russians stop producing. You do turn asis down the taps when the price is going down. The way the logistics work, its not so easy it on and off. Is going on in the minds of the major oil producers, particularly russia saudi arabia . Whats their strategy in all of this . That l, they have decided theyre going to make a big deal the issue is that they talk bout the barrels a day, the saudi minister talked about 12. 5 day, and rrel a everybody shipping 20 Million Barrels a day. Pretty simple, so that total cutback is 7, its not 9. 7 or 12. 5, billion barrels today. These arent enough for the down. T, it goes once we get to july and august, the markets will turn. Opec agreement will start to bite into the inventories and big difference by august, september. Month its a mpt disaster. Rishaad why do this . Overproduce to such an extent . Is it trying to really, really producers and get them, put them out of business . N effect whats the politics behind it . Have really clear understanding that this has to do with putting shale out of business. It is more to do with the saudis angry at the russians and starting a process and then they say theyre going produce 12. 3 barrels a day but they cant sell it in the because there is no demand thanks to coronavirus. So President Trump intervenes a uturn and try to make it up, but they decide to up from may 1 and to may continues and inventory gets build up. Of a communal suicide for both sides. Shale act on the producers is a side show. Butybody wants to see them, you cant put shale out of resources, the infrastructure is there. And bring l buy them them back six months, 12 months after that. You cant kill them. You can only temporarily paralyze them and theyll come again. For ad thank you so much showing us, were going to take a break. On the other side, an inside look to the indian economy. Is as speculation resolved indias reserve bank of next move. Indonesias d Biggest Company joins us for an xclusive interview, see how bloomberg is affected by total ment measures, the effects count in just three weeks. This is bloomberg. Haslinda the coronavirus outbreak hit indonesia, taxi drivers for one have experienced drop in passengers and income. With a fleet tor of 2,300 vehicles joining us for exclusive interview, give us capacityf what kind of are you seeing . Because it was not really question t was the again . Bird da how has blue been impacted by the virus . I think the coronavirus covid19 pandemic has impacted in indonesia sses and we have the president of identified ve several sectors that are heavily by covid19 and one is the tourist and transportation, is really e industry mpacted, unfortunately, especially us as a passenger transport, but also the reality people need to stay at home, they feel a need have their daily needs every day, so we have been transferring from a transport to a logistics company. Haslinda what percentage of the workers have been impacted, not workingthem are right now . The drivers . Haslinda thats right. Oni yes, so some of our drivers because of the relationship, some of our rivers are not working so some of them choose to just not work for a while. Of our till taking care drivers who are still in operations with us because a lot need to move l from one place to another place, supporting we are the medical personnel who are covid19 in hospitals so a lot of those personnel are still using our services. Way we have to take care for example, were giving them free mask and alcohol s and the disinfectant sprays and giving hem, were asking them to always look after their hygiene health, physical distancing, all of the things we prevent o in order to ourselves to get the virus into ourselves. We also give free meals for our we have like free rides for our drivers who choose not to work, so we have been trying to help however we can to sure that our drivers are contented. The revenue is impacted. Is means also their income impacted. At this point the government is to get support, theyre giving supports in several ways. Example, the police is giving training for our drivers and for the drivers who come to session, they will an amount of money so they can bring back home. Working together with our our, what to support or the l the drivers nonformal workers so we are do ng to, as a company, we our best. Giving opportunity for the drivers which are part a lot of rd, we need masks. Reusable masks that way we can also create an their homes. From so were trying to help to drivers lives or eet and fulfill Different Things because the reality is there are not very many people going around. Most of the people, especially n jakarta stay in their homsz, a lot of offices are closed. Not that Many Movement of people at all. Thats where were trying to our revenue from. Haslinda so having said that, noni, what impact would it have half earnings, for example . Noni im sorry, you may have to repeat the question again. Impact what kind of will that have on your earnings in the first half . Earnings . Haslinda thats right. It has impacted our earnings in were a half because public company, we cannot reveal how much yet. Announced very soon because the first half will be by june or july. Us, but i impacted mentioned that were doing a lot f working together with e commerce company, with logistics and even with Distribution Companies or Goods Companies because a lot of the physical shop has to be closed. Focusing on the online distribution. We hope to be able to start the impact of the new were investing in the system. Ande investing in the sales things like that. So the number is down, the because the number lot of we have done a cost cutting as well. Ot just cost cutting, business efficiencies, we are looking at the business in a different way prioritizing which system were going to invest in now and which one that were to invest later on, some but some pone, investment make it earlier of this new opportunity that comes to us as i mentioned earlier. Were still balancing, yes, but revenue semester, our is very much impacted. Haslinda noni, thank you so for your time today. Now more ahead, this is bloomberg. Haslinda a quick check of the headlines, the biggest coronavirus victim so far, the carrier called after the ors pandemic crippled demand for tickets and cut off all income. Branson warning that the airline wouldnt survive without state aid. Caribbean said his collateral. As temporarying closing offices to elp prevent the spread of coronavirus. Affected by 15,000 employees at companys h. Q. And nonproduction facilities elsewhere. From home a work policy. Week g revenue for the 97 past april 14 fell ccording to reports, because of the coronavirus have seen gaming less than it g to was a few hundred compared to in norm times. Rish. Markets, its ae down story at the moment. Il front and center sending markets in the u. S. Down and certainly providing the lead for whats going on here. Hang seng 2. 3 down, also sing singapore and indeed there to the downside shanghai and hang the speculation urrounding the health of north Korean Leader kim jongun, cnn danger was in great following heart surgery. Elsewhere in japan and south reports are coming through that they dont see at the moment in the capitol pyongyang with regards to the leader. We are, urrently where this is the Chinese Markets in a the chinext il, shanghaiwe head to the lunch break three minutes from now. This is bloomberg. Awesome internet. Its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] haslinda youre looking at live picture of the lion city, 11 30 a. M. In singapore. Were in the middle of the training day. Trading again in line with the down at 1. 6 . Gion in the market, singapore reported more than 1,400 new single day. There is concern that the second expanded, under a lot of tress, expected to shrink between 1 and 4 . 1. 6 . The first word headlines, mitchell. House Speaker Nancy Pelosi hopes lawmakers will reach a on the latest virus aid package, it include hads 120 billion to help Small Businesses affected by the lockdown and provides money for Virus Testing medical verwhelmed centers. Pelosi say the democrats and republicans have agreed to terms first legislation which goes to the senate. The u. K. Government is resisting its virus ease lockdown fearing a second wave of the pandemic, were told johnson has discussed the ministers senior urging caution. Extended a shutdown for hree weeks saying infection is approaching its peak. Early data shows south korean as rts slumping this month coronavirus lockdowns dampen 27 al trade, shipments fell in the first 27 days of april from a year later with chip down 15 and shipments off by 17 . More data this week will show the korean economy shrank in the First Quarter the most since the financial crisis. And the city where the coronavirus was first reported rejecting any role of spreading infection around the globe, questions about the origins about the pandemic, they that it was deliberately released telling Chinese State media that the socalled patient no contact with the staff. In hong kong for the sixth straight month, highest level since 2010. The total total slumped by a ecord 3. 6 extending the longest stretch since the aftermath of the financial crisis. And months of protest have battered the economy with the labor force 2 . Nking by more than global news 24 hours a day on powered by 2,700 analysts. S and this is bloomberg. Rish. Rishaad were just going to get to these reports coming through that north koreas kim is in a critical condition. We have the u. S. And unnamed u. S. Official saying they have leader is that the in grave danger following surgery. Then weve also had news reports coming through from the Reuters News Agency which has been of the China Communist PartyInternational Party saying that there is belief there at least that the north korean ill. R is lets talk to robert kelly who korea. Us from south what do we know and what is here, howa as you say good is the intelligence because hugely e pyongyang is secretive. Robert yeah, thats right and writing in the last hour or so on twitter, i patience, we just dont know. Rumors one to overread out of north korea. I would encourage everybody to calm down. Only experience is that the south koreans tend to know this stuff better than we do. They spend an enormous amount of time on north korea and they have been pretty quiet. Talking how the americans are talking about waiting. Re all maybe something will drop in the next couple hours or Something Like that. It just like one unconfirmed report that is around, i would counsel caution. It would have considerable ramifications, would it not . Robert yeah, if its true, its possible it is. Pretty uns health is poor, right. All you have to do is look at im to know he is grossly overweight. He has a terrible diet as far as he knows. He drinks a great deal which is that his father and grandfather did and the party ifestyle of the kim elite is well known. He is a heavy smoker. It doesnt look like he exercises much. It wouldnt be a surprise if he had a heart condition. We think, for example, he had his left leg in the past. He has been seen with a cane, so ts possible there are complications from that. Its not impossible. Yeah, if it did, its not really quite clear who would take over. There are some suggestion floating around that maybe the over, that take would be sort of fairly reactionary in a place in north korea where a female would run the country. Simply die,if he had a heart attack or Something Like that and he is just sort of would be obviously sort of like a major rupture, quite sure who the successor is. The sister f it is taking over at the helm, robert, relations it mean for with the u. S. For instance, with japan . Is a well, his sister typical north korean hawk, she the elite, that they are opponents, they shouldnt open up or reform in a meaningful way. There are no real advocates, we dont know a lot about the kimes. There are look like any real advocates at the top for chinese opening of the north economy, there was one fellow who pushed this somewhat eliminated several years ago. If uld be very surprised there were some sort of regime opening if the sister or someone family were to take over, you might see regime sort of like a power than le, thats different a ideological shift. That would surprise me. Do you make of kims leadership, we saw the that was years ago, unprecedented. Robert yeah, i mean, i think far has done as a dictator, he has done a remarkably good job. That he is asaying horrific human rights abuser and verything else, he should be hauled before the International Criminal court, but as a straightforward machiavellian, very good. He is listening to all of his retainers, he has had them shot or exiled. There is look like any meaningful opposition inside the country to him which is remarkable, given when he took over, nobody know who he was, he was in the succession line a few years before. Good done a remarkably job actually. Through the negotiations and meetings of donald trump, he has country into some level of normal. As a korea is accepted normal country today than five to s ago, donald trump held vet that. Haslinda what are your views peninsula . An how do you see things developing here . Robert well, if kim is debilitated or passes away or Something Like that, a lot of room for things to change. I would be surprised if he hardliner another who kept north korea as it is. m not sure that north korea would suddenly implode. We have to accept that north reasonably stable and will be with us for a while. Its always possible. Get always possible to someone who comes in who sees gorbachev figure nd wants to move the regime ideologically a little bit. This happens when the regime, when the king passes away. That north korea doesnt really change, its a enduring stalemate, i dont see that the north koreans are going to give up nuclear weapons. If they were going to do it, they would have done it in the ast year or two talking to donald trump. The americans didnt offer much or the weapons, if you give up your weapons and development aid, trump promised condos, none of that is real. To get their nukes, we have to a lot. Hem like billions and billions and billions of aid. A consensus in the United States to make that of extreme generous offer to the north. The Nuclear Standoff is stable, is going to use them. Rishaad just briefly, the if he were to pass away, would that open the door with seoul and lead reunification of the peninsula . Highly unlikely we know ther that nothing of would come to the top. The last time we spoke about his was the death of the current kims father. You would need a pretty major top. Ge at the its possible. The reason why people are speculating a little bit more now, when kim jongun took over in december of 2011, his father over a ped him to take little bit more. There was a threeyear runup to takeover. When kim jongun took over, he completely unknown quantity. There was some effort being because they knew health was deteriorating. His time around, we dont have any sense at all that he had to successor. Any there is a hint of having his but to have a woman to run the show, it would extraordinary. Thats why were seeing this discussion. F we had a power struggle in which the army came together, as army is probably not orwellanmmitted to the army may actually ngaged in some phased unification with south korea. As long as the kimes and others running north korea, the table. On is off rishaad thank you very much kelly. , robert india up, a chief about st talks to us paving the way to further action. This is bloomberg. Rishaad this is bloomberg markets. Ndian factories tentatively reopening as the company eases he lockdown to revive an economy that was slowing it even before the Global Pandemic. Economic uss the ramifications. We are joined from mumbai. Joining so much for us. Do you think its a wise idea to be reopening some of the badly es and tell me how hit is the economy there due to covid19 . Pranjal thank you, good to be here. Of the shutdown hich started around march 20, the government with the covid19 close to nine days, flattened so perhaps it was a good idea then. Costs, yes, its been substantial. Of National Lockdown 4 of the years gdp which is quite substantial. Exciting part started yesterday. The government is beginning to a little e economy bit. In the last month, 65 of the locked was impacted, was out. From yesterday on wards, only will be of the economy locked out. Hings are beginning to move and, yes, i think its very timely. Reserve bank, what its done so far and whether and had a Material Impact do. T more they need to and al quite aggressively iquidity, both general liquidity and sector specific specific liquidy. Moratorium and its done quite a lot. What we have seen toward the march was a lot of tems, i think things are improving, but i dont think that the entire problem is solved. Is problem with the response that the central bank is a lot on banks to ransmit this package and the banks in india may not be working 100 . It is not as strong as it looks on paper. Aslinda we also have the government pumping in 23 billion to try to save the economy. Tell us its a drop in the ocean. Ow much more does the government need to do and how space does it . Good question. Probably doesnt fiscal much space and eficit other than global levels. The government is moving on the central bank. Of the package, the man mentioning about. We do expect something from the government over the next few days. Im going to support my own businesses. Thinking how art economy. Ith the that have been struggling a lot, depending a and itse central bank on social welfare. Haslinda before the pandemic we had unemployment in 35year high. If an unemployment crisis, can be addressed . Extent they have een hit and establishing they have to shut down, we will see a showing uplosses and in some of the numbers that you mentioned. A lot of urban labor has to rural india. Need a lot ofing, hopefullyhe fields so in the next couple of months, will get in there. A Lower Oil Price enefit india materially given its such a huge influence for the country . Brings down es it increase, taxes then they march in and this group. The board it helps, two to three months and all of these benefits will start kicking in. Understanding would be good. Ust beginning to open up, it could help the knicks because we are to some extent. Said that, the economic large. S very rishaad thank you so much, pranjul from hsbc. Mumbai, it was forecast to be a down arrow and following the trend. L currently thats what we have. To be mpanies are likely in focus. 1. 8 down. Looking at its full years out. Ings to come they were in line. Drop in fall of 1. 4 revenue. Relicense industries as well. What is going on with the oil prices. We have the negative wmpg t. I. Overnight. Thats where we are at the moment. 4. 7 currently lower as well with regards to that. Lets tell you about what we have on the way, virgin the most highming profile victim of the coronavirus. Has kwlapsed, air travel is driving up. From sydney and more. This is bloomberg. Haslinda Virgin Australia has ecome the Asia Pacifics first ally to fall to the coronavirus. Angus has the latest. Income. All of its angus similar story for virgin most airlines around the orld, potentially the borders came down in australia and of the as deprived all income. Its not sustainable for a virgin, it has more with 5 billion australia, a debt, 3 billion u. S. Dollars cant sustain that. The Australian Government was 1. 4 ing to extend a billion line would have rescued equity converted into and the government wasnt in the out line, an administrators was appointed today. Rishaad this is the airlines four. Strators, one of why was there reluctance to bail one part of the question, how does that fit with narrative that they want to market . Airlines in the reluctance iments out, some ail virgin stem storm, i think shareholder virgin is uniquely owned ntirely by four different airlines. Government, taxpayers virgin and themselves were backed by best entities. Doing this first, dont come us. R and now we have the administration here and let forces control the flow. Why that really happens. How ad the second part, does that fit with them coming out and saying they want two airlines in australia, though . Difficult to square that. Essentially a twoplayer market. You think there would be room carriers to make money in australia. Not making any money, call them wise, call them administrators. So from a government really. Tive, its not it wants some sort of hour and wreckage andf this some kind of level of competition. It doesnt want anymore than the quantas to have a onopoly here, free rain, raise prices, cut back on services. In any way. Virgin will be able to its bore anything new bar that can then move forward and be less solid debt. They are low in the pecking order when it comes to debt restructuring. Theyre lower, unsecured credit. So it will be interesting to see ith the 10 parties that have expressed an interest. Joining us from sydney, a couple of breaking with march nd out export numbers leading 4. 2 year on year for ase, the estimate was contraction of 5. 8. Nowadays you do more from home than ever before. The xfinity my account app puts you in control with Digital Tools to give you the help you need when you need it. Get fast and easy answers with personalized help 24 hours a day, 7 days a week. Change your wifi password to a phrase thats easy to remember. Even troubleshoot your services on your own. Were working to make things a little easier for everyone. Download the xfinity my account app today. This is bloomberg daybreak middle east. A record wipefrom out as wti plunges below zero for the first time ever. What will this mean for the future of the industry and oil reliance economy . President trump says he will sign an executive order temporarily suspending immigration as they try to contain the spread of the coronavirus. Manus