Much as people had expect it. Demand obviously easing. Economic data, 8 30 a. M. , retail sales, initial jobless claims and import price index. Bloomberg Consumer Comfort Index 10 00, business inventories, 2 00, and the budget. Earnings before the bell, power weeral and at 2 30 p. M. Will hear president obama deliver remarks on potentially increasing over time. Over tominimum wage overtime pay. He certainly has a mission right now. And the little bit of electioneering moving to the first tuesday in november of this Midterm Election you. Let me get through the data check here and we look at stocks, bonds, currencies, and commodities. We bounce up today. Trade, yield, a risk off particularly wrapped around ukraine and crimea as they go into the weekend. 1. 40,ro making a dash to a huge deal for germany. Lets go right to foreign exchange. I am watching the ruble, the 10year russian peace as well. And the euroyen closeout, strong euro and weak yen. Havene and crimea, you may some fatigue over it. Here is a reality for prudent ssia, lowerutins ru yield and that we go and you see the new spiked up. You do not see the movement in the ruble because the russian government is stepping in everyday and intervening to contain the ruble weakness. Exactly right. They are effectively defending the currency. An incredible move. That takes us back almost 2007, 2008, will we saw the kind of crisis, that is what 10year bonds were doing back then and now we are seeing it in russia. As we get to what will be an eventful weekend in ukraine and crimea. We scoured the papers and websites. Here is scarlet fu with a front page but we need to stay on the Malaysia Airlines jet. Still no trace of it but there is a press conference in quality kumpur. N kuala we have no new information but they said they lost contact with the airplane while transferring to vietnam. Remember, they lost contact about an hour after takeoff and there are a lot of questions whether the airplane travel to the west as opposed to the east. It is whether strangely the pilots turned off the transponder and it suddenly disappeared. We will check in with our reporter on location shortly. We also want to bring you up to date with what is going on in General Motors. It turns out gm knew about the faulty ignition switch is earlier than first reported. It is all a matter of who knew what when. The data we were working with was 2004, but now it goes back to 2001 when gm was developing the saturn ion. A distinction that i hear you say earlier, 19 deaths . Did i hear you say earlier 19 deaths . With her 12, 19. I dont want to put the wrong number out. But a number of deaths. Not one where there is 1, 2, maybe three. At least a dozen and they recalled at one point 6 million vehicles. Americans get worked up about this because we paid a lot of money to bail out gm. The New York Times headline starts out with lawyers. Im just shocked. Just to be clear, this was effectively one of the ignition devices. You had it hangs on your key ring and you press the button. I did not know that. If you bump it with your knee it may turn it off. Full disclosure, i dont have the do hickey. I thought all along this was in the ignition the insurrection of the key in the ignition and whether it could be knocked out as you were driving. We will check in with jeff green to talk a little bit more about this, because there are a lot of question marks coming up. Ukrainee parliament calls on the United Nations to immediately consider the situation and crimea. The referendum on whether crimea should join russia is set on sunday. There are questions on whether the vote is legitimate or not. The president warned russia that annexing crimea will be expensive. Ice ukraine fatigue. I look at the newspapers and it is there but it is not there. A lot of other news, in new york, the explosion we had yesterday. But we go into a huge three or four days here where there is serious military movement, whether in crimea concert. About the ukraine fatigue. What is this is just the tip of the iceberg . What if this is a whole new moment in u. S. Russian relations . Guest from the Eurasia Group said this will drag on for years. We are watching every step that there is a bit of a sense it is not in the diplomats hands. In the 7 00 00 hour from Johns Hopkins with a different perspective, the Muslim Population in crimea in ukraine. Other top stories. Eventful day. Futures up a little bit. Andworld grabs at each every news item in search of Malaysia Airlines light 370. For the kingdom of malaysia there has been an intense global scrutiny. Officials are learning crisis control and management of the media in realtime. Amin spearheads bloombergs efforts in singapore. I think we know the news flow right now now has been really taken by the people how the people of malaysia have adapted. D. L. Tell us the mood in kuala lumpur. The mood is pretty somber. Everyone is wondering how can a plane go missing and not leave any trace . Six days and no clue. Everybody pretty much is confused. There has been pretty much conflicting information. We give everyone the headlines from the press conference but we dont really get to see what the executives look like, how they sound. Do you censor there is panic, confusion, despair, futility when they give announcements . Pretty calmhas been on their part of the media got agitated yesterday. Yesterday for instance it was pretty heated about the accuracy , authorities not being truthful. But all the time the authorities have been pretty calm saying we are doing everything we could. The press conference just wrapped up and there are so many more questions than answers. What is next for malaysian officials . And itsearch continues is asking for more help from the world. More countries have offered help. Some things have been cleared up. There were reports that the plane flew for four or five hours after they lost contact that they say it is inaccurate. One of the most important things that came out from this particular press conference. Thank you so much. In from singapore. We will continue to cover the search for the malaysian airplane throughout the day. We are honored to bring you from cornell university, the former head on the china watch at the International Monetary fund and author of the acclaimed dollar trap. This book is getting rave reviews from leading academics and government officials worldwide. On china, i am confused. We were talking about that earlier. In a summary, are they having good Economic Growth right now . Whats a are having a difficult spot because many of the factors that were driving growth they are having a difficult spot because many of the factors driving with a beginning to slow down. Fiscal policy to bring growth back if it slows them. They have more than enough space to make it recover. The question is whether in the process of doing that and stimulating growth they create more risks. That is the difficulty they are grasping with. A lotre trying to do it of reforms but if they stumble it hurts reforms. The mother of all juggling acts. We will get into that a little bit further. We do want to tap your brain on what the imf is next when it comes to ukraine. You worked there for years. What is the next step as everyone negotiates how ukraine gets financially . There is the politics and economics. Ukraine is in a vehicle very difficult but economically. But the imf will go in and say they is that they need to make certain reforms to get back on track. There is a lot of support from the u. S. In particular and from the World Community at large. Quick to does madame lagarde speak to in europe . It will be the germans to take the lead. Bottom line what merkel says matters, because she does have the ear of putin to some extent. Shes also got the money. And shes got the money. The dominant economy as well. Lets get to company news right now. Heres a scarlet fu. Citigroup considering clawbacks in the mexico vandal scandal. Link to the 400 million loan fraud. It outlines the options and predatory filing. Herbalife. Ms for the magician company says the lead opened an investigation into the business practices. A big win for bill ackman who has been trying to convince regulators to shut the company down. He made a very public that against herbalife. Herbalife says it hopes the investigation will clear up misinformation. Volkswagen is ahead of schedule. The carmaker may sell more than 10 million vehicles this year, that is four years earlier than planned. It comes as it introduces more than 100 models this year and next. Heart of the efforts to overtake toyota and become the Worlds Largest carmaker. Quickly, that is the first herbalife news that gets my attention. My experience is when somebody mentions the word pyramid, there is always something in the closet. It is not clear whether this is a pyramid scheme, they are just looking into the business practices. Innocent until proven guilty. But with somebody mentions pyramid, the radar goes up. Here and it is very specific. It means theres more money going out then is coming in pyramid is very specific. Going back to amway and the rest of it. If someone mentions it, it gets my attention. Auto recalls are common. Criminal investigations into auto recalls, not so much. When gms delay recalling 1. 6 million vehicles and what it means for the new ceo. Our twitter question is the new gm brand tarnished by an old recall . We want to know what you have to say. This is bloomberg surveillance. We are on Bloomberg Television and streaming live on your tablet, your phone, and bloomberg. Com. Good morning, everyone. Bloomberg surveillance. Up on Bloomberg Television this morning, tech although women will quake here and Bloomberg Television. Is so coolian, this for school i cant keep up who this guy is but women quake and he will be with us at 11 00 a. M. This morning. They can hardly contain themselves. I hear he wears bow ties on the weekends. Cool, he is a hipster. There is no irony here. It is bloomberg surveillance. Im tom keene with the scarlet fu and adam johnson. Baptism by fire. G. M. s new Ceo Mary Barra already dealing with a criminal investigation. Congress wants to know why the company delayed information on the failed ignition systems going all the way back to 2001. We are joined by Detroit Bureau chief jeff green. How is she dealing what appeared to be a total fail by her predecessors . She has not been in public. She has been keeping a low profile. She said in the most recent statement that she is leading the effort behind the scenes and that is why she is not out front. Definitely it doesnt come back to her all that much. It was four or five ceo asiago when it happened but it is a rough start here she started out at the state of the union being praised by Hillary Clinton and now being embroiled by this really messy and ever more consultative recall. One of the stunning facts of this whole investigation is married by her own admission says she did not even know this until a few weeks ago. How is it that something that involves multiple deaths does not get up to the ranks of higher management . Look atu were to everything that involves deaths in the Auto Industry about 30,000 people die on the highway every year and all of them are in a car in some fashion. There are always hundreds and sometimes thousands of lawsuits. It is sort of a system of which was come to the ceo. It does not look usually rise up until it looks like some action is being taken. He knew about this a long time. They did not consider the car turning off on its own to be a safety issue. They have known it was an issue and they dismissed it 10 years ago. I want to bring in the politics. Any sense gm is being picked on because it received a government bailout . Thething with toyota idea with toyota having the hearings, it seemed to be sort , as the issue got more more complicated, more publicity and more discussion of the deaths. The one thing gm has in their favor is they basically said, we are wrong, we are sorry, and we are trying to figure out what is wrong. They confessed and now they are waiting for the beating. , trulyr prasad with us the world expert on china. Sad when you go to the firstou see g. M. , assault of american excellence in china. Do recalls like this damage the american brand abroad, particularly in china . It certainly does because this is one of the reasons people come to america is the quality. That their institutions carmakers will do the right thing and the carmakers themselves fim in chengdu and i put an audi and agm on the street, which card to the chinese aspire to . Right now they are doing equally well. Audi has a certain image. I think this issue certainly her to the g. M. Image. Is with us all our and jeff green joining us from detroit. Jeff, as always, thank you for your perspective. The twitter question of the day is the new gm brand tarnished by an old recall . Next hour,p in the we have dean of the Johns Hopkins school of advanced International Studies and he joins us to talk about why russia is not exactly the partner america expected. This is bloomberg surveillance on Bloomberg Television, streaming on your tablet, smartphone, and bloomberg. Com. Good morning, everyone. Morning. Ionally busy futures up five, dow futures up 34. Adam gets a started with top headlines. At least six people confirmed dead in yesterdays explosion that leveled two buildings in east harlem in new york. Nine people are still missing and more than 60 injured in the blast and fire. Investigators believe a gas leak was the likely cause. Energy company con edison received a call about a possible gas leak about 15 minutes before the blast occurred. Ine signs of a slowdown china. Industrial output, investment, and retail sales grew less than forecast in january and february. Retail sales rose at the slowest pace in a decade. Factory production got off to his weakest start since 2009. Two People Killed and more than 20 injured when a car driven by a suspected drunk driver crashed into a crowd at the sxsw conference. People say the driver was trying to flee from being arrested when the car crashed through barricades that up at one of the venues down in austin, texas. Sorry to say, those are your top headlines. It has become such of a bang up effort. I spoke to someone who had just gotten back and she said it was a different festival this year. Colder weather earlier. Normally it is a warm and springy. Usually you get a ton of new announcements. We have not had a new iphone in a long time. And tragedy as well. Morning mustread, we have three of them up for you. Here is adam johnson with the smart morning mustread. Of this comes from nicholas columnist from the New York Times writing the following antibiotics are routinely fed to animals and birds to help them grow quickly in crowded conditions which could lead to antibiotic resistant infections which strike 2 million americans annually. Four fifths of the antibiotics consumed in this country go to farm animals. You mentioned earlier the bacterial immunity. Taking so many of the bacteria out of the system that our bodies cant learn how to deal with them. Cornell, dosad from you keep the meat when you go to china . I dont eat meat anywhere so i am safe. Of this is a big issue for the country as it tries to secure the food supply. They are trying their best to l with the crisis in china us,re they different from where they need antibiotics for the animals . The problem, given the amount of demand they want to produce as much as possible. That requires antibiotics. Are we pushing too far . Coming up, we are going to discuss the Malaysian Airline jetliner disappearance and the effect on global tourism. Good morning, everyone. Bloomberg surveillance. It is a different new york city for bloomberg surveillance here in the 6 00 hour, Daylight Saving time, giving us darkness in the morning. It is dark out there and cold. Of course the bright spring evenings. There is the Chrysler Building off to the left. Scarlet fu and adam johnson with me this morning. Let me do a quick hit a check. A little bit up. As adam mentioned, a lot of Economic Data today that may rile the markets. 8 30 p. M. Beginning at 8 30 p. M. 1. 40. Ro getting out to really getting into extended strength to the euro. Diminishing the china pharma us ginormous export economy. Actualerms of gainers of individual companies, solar city jumped seven percent yesterday. It will be offering solar power in about 60 best buy stores, and customers will get a gift card if they sign up for solar servers through best buy for a certain time. Herbalife down seven point four percent. The biggest loss since late january. U. S. Federal trade commission is doing a probe into its practices. Bill ackman thinking finally something is being done. Finally. Yet he has been long fannie and freddie mac which got crushed yesterday. On because we have all been mystified by what happens with the missing Malaysian Airline jet. So bizarre. You have to wonder what happens next. Industry a report said grew 10 last year. Air disasters discourage people from booking their next big trip . Does the unrest in places like ukraine discourage travel as well . We are joined by world travel and Tourism Council president and ceo. David, welcome. Good morning. As an industry insider, you work for budget airline, a travel company and hotel as well, what is your first thought when you hear about an incident like the Malaysian Airlines jet . Our thoughts obviously go to the family and people affected. The debate about why it happened and where it is at the moment continues to rage. I was listening last night to a variety of different theories, whether cockpit error, whether catastrophic failure of Electrical Systems tom a there are many, many issues being debated at the moment. But it does not impact trav