he did part. craig melvin: that's all for this edition of dateline. i'm craig melvin. thank you for watching. ♪ good morning and welcome to "street signs." i'm arabile gumede and these are your headlines. china setting the growth of 5% for the year ahead. premier defending to refuse risks in the economy and warning the path could be rocky. >> translator: the recovery is not stable. insufficient effective demand in some industries. weak social expectations and many risks and hidden dangers.

police confirm they are investigating what looks like arson near the tesla factory after the media report it has been evacuated. and the highest topping the stoxx 600 for thales. we will hear from the ceo patrice caine later today exclusive interview. and bad apple. the regulator bringing down a fine as the scrutiny of the big tech firms heats up. >> this is a parking ticket. maybe not even a speeding ticket. a parking ticket. across the day, we have been

getting into economic data. welcome to the show. this is "street signs." we have been getting data cross europe with regards to pmi and getting a sense of the final data points when it comes to the manufacturing services and the likes as well and really looking at the february final services pmi out of the eurozone. the final reading, as i have been saying, coming in above the contraction and expansion zone of 50. the flash number was a flat 50. now a 50.2 for the february final services pmi. that data coming through earlier on. we had seen the german data languishing in contraction territory. we had seen italy move a little bit higher just above the 50-point mark. the final composite for eurozone coming in at 49.2. the flash figure at 48.9 on that

one. still some slight improvement. again, still sitting in contraction territory for the final composite data as well out of the eurozone. that is pretty much where we are sitting with that composite number. final services at 50.2. that is how we sit on that data point for now. let's head to the news out of china which set a gdp growth target of 5% for 2024. that's the same level as last year and a move seen as ambitious in the face of wider economic weakness. the chinese premier li announced the target alongside goals for inflation and unemployment in his first government work report at the opening of the country's annual parliamentary session in beijing. sam baddas filed this report. >> reporter: the parliament kicking off today where we heard from premier li today giving his

maiden government work report. he said china is chasing 5% budget both. they hit a cpi target of 3%. the defense budget was the same from last year. the notes out in the banks in reaction to this suggested that growth target of 5% is ambitious and challenging. they say this is very much projecting confidence that they have set the similar target to last year, but will be harder to achieve because of the different picture that the government is facing with a litany of challenges right now with regards to local government debt and protracted property crisis and weak consumer demand. they said the fiscal budget deficit they set is insufficient in order to propel growth to the

5% gdp growth target and now expecting more stimulus to be announced to actually achieve that. a lot of the challenges around the npc is that it is headline heaven y and light on details a that is hard to see how they will achieve the growth targets. in summary, what this work report has told us is that policymakers are comfortable with the current trajectory and the path that they have been on. they have in terms of continuity and change chosen to go with the former continuity fine tuning of the policies they announced rather than going with a shift in terms of policy direction when it comes to addressing the enormous economic challenges. they pledged to create 12 million new urban jobs this year. that is a higher job creation number than last year. that suggests to ask that the

government is focusing on consumption. if you have a job, you are more inclined to send your money. they are talking about a year-long campaign about worry free consumption initiatives to address the weak consumer demand right now because that is something that the markets have very much been looking out for certainly in terms of demand stimulus. in beijing, i'm sam baddas, cnbc business news. china is said to increase the defense spending by 7.2% this year as beijing vows to resolutely oppose activities related to taiwan's independence. transatlantic corporation between the u.s. and europe on china is still limited in extent as well as impact. that is according to the latest report from chatham house where washington and brussels could improve relations.

joining us to discuss this morning is the senior research fellow indo pacific security. thank you for the time, phillip. let's get your sense of whether you think they are very ambitious for a china which has been faltering from its high growth expectations to where we are now. >> good morning. yes, they seem to be am an benef ambitious. they seem to being moving which is a trend which is partly behind the findings of the research you mentioned on the new report on transatlantic policy. although there have been efforts to cooperate more closely, they have been, in some ways, driven together by chinese actions than their own success of corporation.

i think this fact you mentioned about increased defense spending is another example where china is moving in a way to draw more of the same efforts of cooperation to counter its posture in the region and beyond. >> one would think it is because of the divergent of desired outcomes with europe or the united states as you have a difficudie verge answer of how you deal with europe. >> the divergance is part of the picture. one obvious difference is for the united states, china's position on asian security is really at odds with the american position. aligned with japan and korea and also in support for taiwan.

america is in a much more direct confrontation on the security level. our report looks at security and economy and global governance. the economy, i think, for the united states issues like technology are really bridging what's an economic issue and what's a security issue in a way that is much less the case for europeans. on the global government level is where the cooperation is scoring lowest of the three. i think that leads to the other factors which is it hasn't been a discuss for expression of a common transatlantic vision for what sort of space the world should have for a rising china in the future. this is why we titled the report in search of an end game. without a long-range positive vision of where people want to be with china in the future, it means a lot of efforts to counter things that people don't

like coming from china are incremental and reactive rather than more strategic and thought through and coordinated. >> you can hardly get the sense of alignment or agreement whether it be on urgency or severity or security threat, et cetera, posed by more what is a technologically capable china. how do the two transatlantic partners find a way to coordinate policies in and around china in what seems like a conservative china and not putting out bazooka economic policies? >> i think the other factor we haven't mentioned, which is quite relevant here is the way that china's position on the ukraine war and its position with russia has really catalyzed a close alignment across the transatlantic partnership on

what threat china poses. china is saying it is not delivering lethal weapons to russia, but there are quite a lot of reports, credible reports of non-lethal equipment, drones and such and other technologies, continuing to pass from china to russia. for europe, that is a direct problem for the security risks from russia and the war in ukraine. i think it is a matter of finding areas of convergence on technologies. as you know, eu is starting to put sanctions on chinese companies found to be connected to the supplies of russia. >> all right. let's move it forward then and find ways to actually ease these tensions and coordination and cooperation with china. what are the best solutions at play here? what could actually help the situation somewhat?

>> i think a better and more determined effort, as i say, row j projecting the long-range vision with china, which is one that is desirable. there is a sense on the chinese side that really all of the transatlantic partners in one way or another, are setting out to constrain china and keep it behind and sabotage its continued development. accompanied by more clear common statements on some of the red lines that the europeans and americans have about certain aspects about the chinese behavior with the treatment of minorities and the hong kong issues and increased pressure that china is putting on taiwan which is not disruptive and dangerous for regional security, but could have huge stakes for

economic and conventional security in europe and the atlantic. >> certainly a very significant cppcc as well. this is one we will visit again. philip, thank you for the time. philip shelter-jones at rusi. for more on the chinese defense spending and military ambitions, visit cnbc.com. the brandenburg police service confirmed to cnbc it is investigating quote what looks like arson near the tesla european factory. the ev maker just in the last few minutes has confirmed activity at the site which has been halted due to a power cut. we will bring you updates on the story as we hear it, of course. just to look at tesla's trade in pre-market. you see the stock down 2% ahead

of the trade later today on the back of the production halt at the gruenheide gigafactory. coming up on the show, thath thales tops the full-year forecast. we will breakdown the numbers coming up next. has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store.

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welcome back to "street signs." let's check on the european markets which have been open for an hour now. you see a negligenative stance . all eyes on the ecb which is anticipated to hold interest rates steady on thursday as it announces that mark as inflation shows more signs of easing. a majority of those counters have been in the red as the sectors. mining stocks sinking as you look at the sectors. you see financial services .50% weaker as well as autos being

down on the back of nk sinking as it expects a moderation of growth. on the other side, another story we are unpacking now for you is t thales hitting an all-time high as it topped the full-year forecast for the company reporting a record 2.1 billion euro in operating profit. the aerospace manufacturer said order intake was higher than the year before at over 23 billion euro. the company forecasts 2024 sales growth of between 4% and 6%. charlotte is joining us on this one. it looks like a good set of numbers, but competepetition is still high. >> thales is the cross section of two sectors still growing. spending more in defense in europe. they are benefitting from that w war in ukraine and the

post-pandemic travel boom and airlines renewing fleet. as you were saying, the numbers were better than expected there at thales. they have an order book reaching an all-time high of 45 billion euro. 25 orders of over 100 million euro. they are operating margin at 11.6%. bang-on in the middle of the target they set in july. organic sales growth of 4% to 6%. a note from citi saying maybe these targets are conservative. one area with a bit of difficulty is space. that is the comment from airbus a couple of weeks ago here at thales where they are cutting 1,300 jobs which is a joint venture as they face competition

in satellite with the starlinks of the world and they are facing tough competition. they are restructuring the business there. they announced a dividend of 3 euro and 40 per share against 290 a share. one final note we heard from the management of thales that they will not be at the atos. there were rumors, but they are not considering it. all in all, numbers better than expected particularly in free cash flow. they are now at the top of the cac 40. >> maybe the stock will rise with the all-time record high and perhaps a little bit more with the stock. charlotte, thank you. you will be speaking with the company's ceo patrice caine later today. it is an exclusive conversation at 1:00 p.m. cet.

bayer posting a net profit of 1.3 billion euro in the fourth quarter. that stock is down 0.6% this morning. that is more than double the level by analysts. the ceo saidthe pharma firm will focus on improving performance and ruling out short-term changes. annette is joining us. if you tell the investor community that you are restructuring the business, but just not now, you are creating a self fulfilling prophecy, aren't you? >> reporter: perhaps. perhaps not. it can depend on which investors are you talking to here. that is what the ceo of bayer is saying. long-term investors are willing to give bayer enough time. what the ceo is asking for is another 24-to-36 months to actually turn the business

around. the short-term fix would have been news on the consumer unit. it was expected, at least part of the market was speculating that this option or this unit could actually be for sale. the ceo is now saying it is not not for sale forever, but for now, it is not for sale. meaning they heare looking at turning it around before selling it. it is actually from the rationale not too bad. at a later point in time when the business can realize more money. let me bring you up to speed where the problematic areas for bayer are here. they are many fold. the sales are sluggish and the big samonsanto issue.

they took over monsanto for 6 billion euro. they have had litigation issues since. they had problem with the pharma pipeline. all of this needs to be fixed to turn around bayer. shares are down 16% for the year and more than 50%. >> annette, thank you for that one. it has been a fairly interesting conversation all around when it comes to that. let's keep going particularly in germany. the auto supplier schaeffler put forward a profit of 310 million euro. it is considering growth this year with the hmerger are the e maker. we spoke with the ceo of schaeffler. >> i'm confident the deal will go through as planned. we have financed this whole

transaction now. the sound strategic logic is a robust financing with synergy potential and we will see one share and one vote principal. that should unlock value. the integration is going well from my point of view. we have built a basis of trust with our colleagues from tesco and i see positive spirit with the teams on the ground and where people focus on technology and we will very soon also give more details on the first level of the organization. that's another big milestone to push forward with the integration step. iwg has posted record revenue of 3.3 billion pounds alongside a 30% jump of annual core profit.

the office rental firm said the demand for hybrid work continues to grow, but remains cautious on the outlook. the ceo explained the dynamics in the co-working industry and how the company fails to rival wework. >> the demand for what we are doing is going up as more and more companies want to change. they are looking for locations that are closes to where people live. suburbs and rural locations. we talked a few weeks ago about doing 2,000 locations across the uk. it's a coverage play. it is not about capacity in central london where the wework locations are which are central in new york. there could be oversupply. coming up on the show, bad apple. eu slapping the giant with a 1.8 billion euro fine for breaking streaming rules as brussels'

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welcome to ""street signs." i'm arabile gumede and these are your headlines. the ambitious start for china and the premier li warning the path could be rocky. >> translator: insufficient demand and overcapacity and weak social expectations are many hidden dangers. tesla confirmed the production is halted at a gigafactory and police say it looks like arson. and thales tops the stoxx 600 after posting a 1.2 billion euro net operating profit. we will hear from the ceo

patrice caine later today. and the u slaps apple with the 1.8 billion euro fine for breaking streaming rules. the watchdog is a base level penalty and that would not have made a dent. >> that is a fine. a small fine that would qualify as a parking ticket, maybe not even a speeding ticket. a parking ticket. we have been following through on some of the pmi data. it is the final pmi data that has come out of europe. we are looking now at just the uk final pmi data to have seen the flash pmi composite number of 53.3. well, actually points to worse than that. the composite number is a flat

53 right now. the final composite number. the final services pmi has also dropped from a flash figure of 54.3 down to 53.8. of course, the technical recession stance in the uk makes itself clear ahead of the budget by jeremy hunt who is anticipated to find room for the tax cuts. it is a tough economy as you can tell just from those numbers. apple continued losses in extended trade after the eu commission fined it 2 billion euro following the investigation into whether it shut out music vee v streaming rivals like spotify. that is more than 500 million euro it had been speculated. it marks the first time the eu sanctioned the tech giant. silvia is joining us for more on

this one. it's a slap, but if you look at the context of how big apple is, this is something they may brush off. is this a worry in the broader context of trading in europe? >> it is a concern in the sense that it could raise questions of the reputation. if you are a company that does not follow european law, it does not look good. ultimately, this is one of the biggest fines we have seen the eu regulators issue a company. we are talking 1.8 billion euro that apple is now due to pay. as we mentioned earlier, that is more than three times the number that we were expecting. eu regulators explained the reason that this is such a high fine is because they are trying to send a message here. years ahead of the competition policy outlining the reasons

behind this. >> for decades, apple has restricted music streaming app developers from of thissing th of thissing theiinforming the consumers. apple has imposed rules on music streaming app developers. apple rules are harming consumers. critical information was withheld so consumers could not effectively use or make informed choices. some consumers may have paid more because they were unaware they could pay less if they subscribed outside of the app. we consider them to be unfair trading conditions as they were imposed by a dominant company. >> now, the other sideof the equation, apple has said this agrees with the announcement from the european commission and

they will appeal the decision in the european courts and ultimately apple did say that the eu regulators failed to prove there is actually any harm caused to european consumers. arabile, we could be looking at a long battle in the european courts with the regulators and apple. >> is europe becoming one area that apple looks at and thinks it is becoming a little bit tenuous and you recently had to change your charging ports which in the broader context of things is not as significant, but that is just a step in apple having to confine itself to what europe wants. now the other aspect is with the fine broadening itself out to ensure that everyone is able to use the istore in some cases. does this make europe a little more difficult for apple to trade? >> if you look at historically

speaking, there is the comment on how the americans innovate and europeans regulate. from that point of view, you can argue that it is hard to navigate the european market because of the rules and regulation. regulators are paying attention and keeping big tech to a closer scrutiny more and more. ultimately, the reasons behind the european regulators for taking this approach is they want to make sure the consumers have a choice and behaviors like these that the european commission complained about with the fine are not repeated in the future. european regulators say all companies are welcome in the european market, but they have to comply with the rules. that involves creating a fair competition market for everybody. >> yeah. i suppose if you know the trading rules, you needto abide by them as well. that's the point here. silvia, thank you for that. i appreciate it. iphone sales in china fell 24%

over the first six weeks of the year. that is according to data from counter point research. this means apple now ranks fourth by share in china's smartphone market. looking at the pre-market trade for apple. down 1.5%. it hasn't joined the rest of the magnificent seven in going up, but joined tesla as well with a bit of weakness. so, too, alphabet. now some are shifting to what could be a fancy four. shifting to the united states. the supreme court ruling that donald trump was wrongly removed from the primary ballot in colorado clearing the way for the former president to appear on the ballot in all 50 states. the unanimous decision overturns the ruling by the colorado supreme court that trump could not serve as president again

after the actions on january 6th which was the attack on the cap capitol. this paves the way for super tuesday. trump is polling well ahead of rival nikki haley and expected to face minimal challenges as well as joe biden is expected to sweep the democratic contests. a look at futures right now. the nasdaq and tech counters seem to be taking a hit. let's unpack the political story a bit more here. we have the professor for the department of international politics at city university at london. thank you for the time. >> good morning. >> how galvanizing is trump with that ruling? he has used the courts to galvanize his political

framework to go ahead. >> he has proclaimed total victory. it suggests the courts exonerated him. i think he will take that and his base will take that and the supreme court did not exonerate him. they didn't deal with the issue of his behavior. they side-stepped the issue and ruled about colorado's right to this particular question. he will suddenly try to gain maximum advantage on it. >> what does it mean for nikki haley on the other side? some say she is holding out for the chance that donald trump may not be able to be on the ballot come november and that maybe she may have the outside chance. does this sort of shift things a little bit sideways for her? >> i think certainly i suspect those who support donald trump

would always support donald trump. there is very little chance of them shifting away. what haley has become is a kind of lightning rod for everyone else who is not too happy. there are a number of scenarios that can do forward. first of all, donald trump could be convicted as a felon before the nominating convention or the election or after the election. the other thing is age and health and other matters as well. i think since she has become that anti-trump republican, and now she will not endorse him should he win the nomination, suggests there is a possible division within republican ranks emerging which could lead to a split in the dpop. >> does that mean success for nikki haley, particularly super tuesday success is limited although she won one state

recently. is that enough to get her forward to super tuesday? >> that's a really difficult question, actually. i think that calculus of trump's health and legal position and that kind of thing continues to hold. i suspect that there is clearly some other logic going on in nikki haley's mind about the future. i don't think that is the vice presid president. i think the schism with trump and haley, i think there is something perhaps more deep afoot which could lead something going on with the republican party itself. >> is that split that you see happening? it feels difficult to see it, but it can be at play if nikki haley goes all the way and mounts a sizeable challenge. >> it could. the main issue would be the

split as it impacts the november election. a new party doesn't do well in the united states. third parties have never done particularly well. we know third party candidates sometimes can be the margin on victory for the other side. ross perot in 1992 took a lot of votes from george h.w. bush and happe handed the election to bill clinton. this adds more turmoil and unpredict ability. i could have the leader of the free world, president trump, governing from prison. >> 100%. that would be a shock. on the other side, you have joe biden. it seems that bidenomics is the one thing he has to ride on. is that enough?

>> it might be. i think one of the fundamentals of any electoral outcome is to look at that. the infrastructure and investments which have gone on for biden, then he has done more than most people predicted on the economic front. felt economic benefit, unfortunately, doesn't ride in his direction. so for large numbers of people, they have not felt or benefitted from that directly. their own situation is precarious. that might be it. the other thing, of course, african americans and muslim americans and young voters particularly in the policies of israel and no support for a cease-fire has been in effect up until now. that could play out in the primaries with uncommitted

voting. the big issue in november probably will be if these two are the main candidates. it is our american voters being more angry with biden than they fear donald trump? >> it sounds like an interesting proposition moving forward. does voter apathy step in as well? they both look at it and say i would rather not have either of these candidates. i'm not going to vote. that's what happens with a two-party system. >> that's what nikki haley component of the republican el electorate may do. the younger voters, in particular, are a bigger part of the victory in 2020 for biden than the republican sort of alienated by trump. again, we have a handful of swing states in which muslim and

african americans may be 2% of the electorate may help lead the election. >> thank you for the time. i appreciate it this morning. it will be an interesting one that we will follow throughout this year as well. i appreciate the time. the professor in the department of international politics at city university of london. well, let's gear up as investors are up for what is likely to be the uk government's final fiscal event before the next election which is expected before the end of the year. the chancellor of the exchequer walks a fine tightrope jeremy

hunt as his head room remains uncertain. a new poll putting support for the conservative party at the lowest level since the 1970s, he could decide to go big in a bid to shore up votes. speaking to our sister channel sky news, hunt set out priorities ahead of the budget. >> we do want to move to a lower taxed economy, but we only will do so that is responsible and recognizes there are things that taxes pay for that we couldn't cut taxes by borrowing. we'll do so in a responsible way. if we can spend money on public services more efficiently, then that will mean less pressure on taxpayers. >> take a look at how sterling looks ahead of the uk budget. it will be significant then of what happens when it comes to those tax cuts. will more be put forward then as

well having entered the technical recession and how much leeway is there and if it is not a tax cut, what are the alternatives? sterling at 126 which is unmoved compared to the dollar. a look at the gilt market as well. the ten-year gilt looking there at 4.085. hanging on to the 4% mark. the rate sensitive two-year gilt at 4.33. coming up on the show, with international women's day in focus, tanya is speaking to the fashion designer diane von furstenberg. we will have that first on cnbc interview coming up after the break.

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equality by 2030. tanya breyer has more with us. tanya, you have been speaking to a lot of people. let's talk about the latest guest. >> thank you, arabile. i like the way you said it is set to take place. we were chatting before and we hope it will take place on friday, march 8th every year. i have caught up with different female leaders in different industries. the most recent one is diane von furstenberg. she created the iconic wrap dress 50 years ago this year. when i caught up with her, i asked her what challenges she feels are facing women today in 2024. >> oh, my gosh. all of a sudden, all of the contraception and birth and women in charge of their bodies seems to have reappeared. this is something that, for me and we thought

that was gone. when the world gets into the position off situation of fear, for some reason, women always somehow fear is associated with, you know, keeping the women down. i think it's about us, the women, to figure out solutions and then use that to make the solutions happen. >> how important is it to mark an international women's day? >> you know, i'm european. i was born in belgium. we acelebrated international women's day forever. in america, you really didn't do that. if you ask me, every day is international women's day. >> what kind of events will you

be hosting to mark international women's day. you do the highlighting mentoring walk. >> we do a lot of different things. we have panels and we invite extraordinary women. we get mentors and mentees. we do speed mentoring. just a lot of things that, for me, i, obviously -- when people used to ask me what did you want to do when you were a little girl and i would say i didn't know what i wanted to do, but i knew the kind of woman i wanted to be. i wanted to be a woman in charge. then, later, as i became successful, i became in charge becauses of a little dress. people would say who is your customer. i would say the woman in charge. to be in charge, what it really is and that's the important thing is a commitment to

yourself. it's only who you are. you own your i ammperfection an your assets. you turn those into strengths. >> hearing from diane von furstenberg there. she a mentor to other women and she has numerous foundations. she has the awards in their 15th year this year where she celebrates other women leaders. she has become very iconic through her own journey to success. >> fascinating stories as well that you continue to garner out. i appreciate the time. thank you for joining us in studio as we continue to head toward international women's day. tanya joining us for that. if you like to keep up with the international women's day coverage, check out cnbc.com. let's check in on how the european markets are looking before we close out the show.

you see red across the board. a lot of major boards across europe here with the ftse 100 dropping off .30%. significantly, we are looking at british auto firm sinking after announcing it expects a moderation in the growth prospects there. on the other side, france's thales hitting an all-time high after reporting an up thetick i profits and sales. here are the sectors. this is pretty much how we are looking in this had been speaki awed autos. 1% down for the auto sector. it is on the back of the company sinking. thales stock price is up 7.75% after it topped the full-year forecasts significantly.

we unpacked the story a little bit. you see over 12 months. 12.5% to the good. compared to the competitors, it is languishing. it is reporting a 2.1 billion euro operating profit. the french aerospace and defense manufacturer said that order intakes were fractionally higher than the year before at 23 billion euro. the company did forecast 2024 sales growth between 4% and 6%. we are still looking at apple, of course, in the time after yesterday having the eu commission fine the company 1.8 billion euro. nearly 2 billion euro sum of money. it is looking at going down 1.5%. it did take a hit yesterday and it is down as you tell just before the trade opens later on this morning. a quick look at u.s.

futures. jay powell is set to speak to congress in the two-day testimony across the week. we have a lot to unpack when it comes to the jobs market. we have jolts data and adp which is private payroll and non-farm payroll numbers. we look to head weaker today and losing momentum across the u.s. trade with the tech counters taking a hit. the nasdaq dropping off as we head towards that trading picture. t tesla fell 7% yesterday. we have been noting apple taking a hit. thank you for joining us across the show today. trt signs" is done. "worldwide exchange" is up next.

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it is 5:00 a.m. here at cnbc global headquarters and here is your "five@5." we begin with stocks pulling back again this morning as wall street hovers below all-time highs. the advice jim cramer is giving. stocks may be lower, but one thing is not. bitcoin coming within 1,000 dollars of the all-time high. and a fresh read on retail as target gets set to report before the open today. the number one thing investors should watch for