And oil is up to the tune of 25 . The jobless claims rocked the street. We were expecting them to be bad. We were not expecting them to be 6. 6 million bad. Jackie deangelis, jackie. Reporter good afternoon to you, neil. Lets go ahead to start with the tweet from the president that had the dow jones up more than 300 points now. The president said, i spoke to my friend, mbs, crown prince of saudi arabia who spoke with president putin of russia and i expect and hope they will be cutting back approximately 10 Million Barrels and maybe substantially more, which if it happens will be great for the oil and gas industry. The markets are rallying on this, because low oil prices are good for consumers and businesses that use oil. Statement, you dont want the price to be so low that the shale producers go out of business. That the Oil Producers have a hard time, staying, conducting, keeping things going. So prices spiking today, more than 20 is a positive sign that it is all moving in the right
This is bloomberg. Vonnie thank you. We are back in a moment. Vonnie this is bloomberg markets. On vonnie quinn. Saysard chartered ceo singapore and hong kong could recover from the pandemic in the second half of the year. Francine lacqua spoke about what the western world could learn about controlling the virus. The bank of england took the view, understood the view that given the uncertainty around this crisis, uncertainty in terms of financing requirements, uncertainty around the losses that banks will take, its appropriate to be atraordinarily despite strong Liquidity Position and loan but today, regulators have taken the view that prudence should rule the day. I understand that. When can we get back to Something Like a more normal capital strategy . Role ofhave to see the banks helping the world recover from this tremendous shock, has largely flown through. We can all speculate how long that will be. I think we will see the ability to return to normal by the end of the year, but e
This is a very unprecedented time. Three priorities in this period. The first is the health and safety of our employees. If we can all stay healthy what stay healthy, we can be part of the contribution here. Even under adverse conditions, we are trying to maintain manufacturing of our food and beverage products. And then with the physical presence in 187 countries, it is very important to us that we also give the helping hand over and above the call of duty around the world where we are present. And on the business continuity, mark, do you have all of your raw material supply guarantees . Crisisminute we saw this spread, we were trying to improve inventory levels at all. Evels of manufacturing obviously there was very little time, and i think flex ability is what is required right now. You do have logistics constraints. Sometimes you need to resort to airfreighting. Sometimes that takes longer or capacity is limited. It is all about managing in a very tight way this crisis and ensuring
It was an amazing app. Will you fix your tie, please . David well, people would not recognize me if i fixed my tie. But ok. Leave it this way. I do not consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of an interviewer, even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . We are here today with his excellency, yasir alrumayyan, who is both the chairman of saudi aramco and also the head of the pif, the saudi sovereign wealth fund. So you have both jobs. How do you allocate your time between running the sovereign wealth fund, pif, and being the chair of saudi aramco . Doesnt that taking 80 or 100 hours a week to do . Yasir pif is an executive role. While the aramco is a chairmanship, i do not have executive chairmanship role. In aramco, i focus on four things. Basically, the strategy, the targets the annual targets that , we have. The performance. An
Recognize me if i fixed my tie. But ok. Leave it this way. I do not consider myself a journalist. And nobody else would consider myself a journalist. I began to take on the life of an interviewer, even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . We are here today with his excellency, yasir alrumayyan, who is both the chairman of saudi aramco and also the head of the pif, the saudi sovereign wealth fund. So you have both jobs. How do you allocate your time between running the sovereign wealth fund, pif, and being the chair of saudi aramco . Doesnt that taking 80 or 100 hours a week to do . Yasir pif is an executive role. While the aramco is a chairmanship, i do not have executive chairmanship role. In aramco, i focus on four things. Basically, the strategy, the targets, the annual targets that we have. The performance. And managing the actual board. While in pif, i am the governor there. And a board membe