keith morrison (voiceover): surely not easy going for the children of dave and debbie hawk. well, we do the best we can. that's all for this edition of "dateline." thanks for watching. welcome to "street signs." i'm arabile gumede. these are your headlines. european retaping some of its losses and cpi is due out tomorrow. crossing it a moment. ras ppberry pi. we will be hearing from the ceo

knew moments. a partnership with open a.i. apple announcing. it seeks to catch rivals in that a.i. race but with shares dropping 2% on the back of that announcement. a notable uptick in the movement across the equities space state side. flat with a slight positivity. we may be recovering some of those losses but not too much to

write home about and. just open an hour. lacking direction and perhaps trying to find some. yesterday we had been looking at retail stocks going up and did slide a little bit there. the key question marks are the cpi out of the united states and the fed policy decision anticipated flat as it comes to the race decision but what happens with the rate pathway from here on? you are seeing negativity out of spain, across the other markets. again, anything could happen because it's still around the flat line. the cac 40 trying to recover some of yesterday's losses. on the sector front, yesterday i made note of retail stocks led the gain.

mining stocks on the other side of things. well, mining stocks have continued their decline today. 1.7% down across the board. we will be unpacking a story about mining as well throughout today's show and talking about about that around that segment and that change as well later on. health care is up a third higher. u.s. future is it's all about the interest rates decision out of the fed. what is anticipated? you can see a pretty muted start with a very negative tote as well. perhaps markets still trying to find negativity, perhaps nervousness ahead of that fed rate decision and has the decision to move the needle for the fed? when can they begin those anticipated rate cuts, if any, this year? british minicomputer

manufacturing raspberry pi more than 30% and priced london ipo and raised 160 million pounds in the offering and has an implied market cap of 541.6 million pounds. conditional trading started today before the official trading kicks off on friday. incredible view in the background there of you. i've been -- i use pass berry pi since 2014. when is a start-up no longer a start-up? >> that is a question. a nice office for the morning here. let's dig into that with evan upton, the ceo of raspberry pi. i want to get to what he was asking. shares up 30% at the start of

trade. what are you feeling? >> fantastic day and a huge amount of work for a lot of people. couldn't be happier. >> when this starts unconditional trading on friday, i believe, do you feel this might put off a few retail investors? >> i really don't know. i think we have to wait and see. >> you've closen london as your listing location and it's missed out of on neck ipos and why did you pick london in the end? >> i went out to new york last year, and i think like lea lot people, i got on the plane 70/30 thinking it's new york. when i came back, i was 70/30 the other way. there is a lot of smart money in the u.s. but it will find you wherever you are and compelling advantages to this market compared to others. >> what is the future of this business here? i was reading your perspectives. you're very much known as a company aimed at hobbyists and

enthusiasts. what are the use cases when we talk about this segment? >> that is the surprise risk. an organization has come from this enthusiast space and it's the heart of the movement. what we have realized over the years many of those are professional design engineers and they take raspberry pi in to work with them and they challenge and solve a problem and take raspberry pi with them. we have seen adoption across a very, very broad range of markets from digital signage to industrial control. i think we are going to see more of that. i think the challenge for us is to stay, i guess, also stay faithful to the roots of raspberry pi in that enthusiasts and educational movement. >> do you think they will know that story?

>> i think it's an education job. i talked about going out to the u.s. meeting some of the smart money that is out there. i don't think you got to -- you got to tell people about the business as you see evolving in the future. >> there are other companies trying to do what you do. what is your defendable mode? >> we built a organization in largely in cambridge in the uk have the end-to-end capabilities and we do everything we design. we build chips and board level product and self-lab and assist our customers in designing and that breadth that the organization and capability that has led us over the years it's led us realize and really quite compelling cost structure advantage and that has turned into price advantage and really that price performance becomes a leader for penetrating this new area larger industrial market. >> you can't really talk about

tech without talking about artificial intelligence. we heard from apple yesterday at their developers conference. for raspberry pi, where does artificial intelligence come into your products? >> many of what they are doing since the last 12 years. one way or another they have an a.i. feel to them. we launched our last product by tuesday. it has 13 trillion operations and 70 and 13 trillion operations of performance through the platform. really the goal is make products that do well with a.i. and partnerships with third-parties who can bring acceleration to the platform for those relatively small high-end applications that need it. >> is that really where the difference is when you look at the large piece you make at microsoft talking about co-pilot and these other companies as well? >> yeah. it's really about, as i say, the story is whether you're talking

about the core platform. it's all about price performance and access ability and availability to make it xal applications. there is still a lag. i think a lot of the work we have learned to do at raspberry pi is help to close the gap over the next few years. >> semiconductors is a key part of your strategy. many look at those what you're producing and designing. these are older and not the leading edge consumer electronic makers are making right now. what is the strategy? >> semiconductors i guess at the moment is a supporting act for our electronic business. we build semiconductors because they allow us to build better electronic products and we sell some of them as well. these are 50 cent chips compared to 50 dollar boards. the unit sales, this might be the year maybe we crossover from

doing -- to doing more chips than boards. primary, a supporting act. you talk about process and the chips we are producing today are -- probably a decade behind but what we try to do is we try to find points of leverage. the silicon we make adds critical capabilities to the platform and achievable using these that are more addressable by -- >> are you looking to do more advanced processing at this particular time? >> over time, like everybody in semiconductors it might be a while we build chips like apple but like everybody, we look down. we look down over time. >> i looked at sort of the material you put out around this ipo international growth a key part as well of what you're focusing on. india and china you see growth opportunities there. how do you plan to grow in these areas where there are low cost offerings in place?

>> there are low cost offerings and you'll see low cost offerings with different fruits at the end of the names. i think when you sit down in front of them you can feel the engineering effort and particularly the software. i think we have never struggled to sell in china. india, somewhere i think we are focused on building out our channel and really the story almost everywhere. we only have a handful of countries today where we have the channel of our dreams and fully built-out channels. we look at germany. a country where we have the mom and pop resellers and the globals and middle tier, [ inaudible ] and probably that middle tier that we are looking to roll out not just in india but european countries. >> around the china market in particular, technology is very much been caught up in the geo politics of the world as well.

you've seen the u.s. and other countries try to hamper china's access to technology. are you worried about raspberry pi caught up in this? >> i don't think so. i think we have a little off to the side because of the topics you mentioned, we are a little bit off to the side of heat and light with chinese access to extremely advantage in the manufacturing capability. >> congratulates on the ipo and thank you for joining us this morning. that was the ceoof raspberry pi talking about the company and the future of the company. >> that is interesting. a rare tech ipo for london. a significant one as well. stay with us. we would like to have a chat with you as well just about this next story. you may eluded to it a little bit in that interview. apple revealed details of what it describes as apple intelligence.

including more personalized features to improve productivity and upgrade siri chat watch and allow users to access information from chat gpt. ceo tim cook said the new features would not compromise on quality or even privacy. >> recent developments and large language model offer powerful capabilities that provide the opportunity to take the experience of using apple products to new heights, so as we look to build in these incredible new capabilities, we want to ensure that the outcome reflects the principles at the core of our products. >> at the same time, elon musk replying to tim cook's post about the event saying, that he would ban apple devices from his premises of his companies if it did not, quote, stop this creepy spy ware.

this has been interesting to make note of. one thing for sure apple has needed to play catch-up in many ways. one could say they moved up but not necessarily moved forward. is that the necessary you were getting yesterday from wwc? >> i think so. very much a catch-up. look. the whole market has been waiting for apple's a.i. strategy. we got it in the form of apple intelligence and the various parts of apple -- that think about the way they were talking about the organization in the way you can search around your phone for specific things and the idea apple is saying that this is going to be more personal experience and we have heard from samsung this year that already. apple's story saying we are rolling out a.i. across our suite of products in the imac and iphones and this is ios.

stick with us. upgrade to the iphone 16 that comes out this year because the features will give you a reason to. i think apple is trying to differentiate itself really around the privacy equation. they spoke a lot about privacy and even when some of those a.i. applications are not processed on a device, they have to go to the cloud. when they go to the cloud they are on apple service and apple won't be able to see the request you're putting out from some of the a.i. tools as well so i think the key differentiated here. i think a big part of the equation was around siri, that partnership with open a.i. unusual partnership, may i add. apple does not like to give up any control of its software ecosystem and struck a deal with open a.i. is a big deal and where elon musk is taking issue claiming apple say it's private and open a.i. won't be able to see the request you're putting through, elon musk claiming it

will be privacy violations. apple saying not the case. those are the two sides of the debate and why an issue between apple and elon musk. >> it's all about that user case. does this mean that everybody who hasn't upgraded the apple device now, all of a sudden, will get to upgrade into this apple 15 or even the next generation of the apple? will they then get into the tablets, et cetera? i mean, that is the big question mark here. if you're buying it around 200 bucks, the presumption you want the price to go a little bit higher. is this enough to move that share price higher? i think that is going to be the interesting question. thank you for joining us. investors not liking the deal necessarily but ramp up to the news and 2% down in yesterday's trade. coming up on the show, we will be joined exclusively by the ceo

of and vitaly ness will be our guest next of polymetal. what is cirkul? cirkul is

the fuel you need to take flight. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul is your gateway back home. so what is cirkul? it's your water, your way. cirkul, available at walmart and drinkcirkul.com. first, we did the impossible. then, you ate so many of the impossible that we completely ran out. and now... ♪♪ they're backk! the footlong cookie is back at subway!

welcome back. polymetal will update a strategy as it looks to rebuild the business after completing the divestment. it will reveal it's mna policy and change its name to solid core resources. we are joined by the ceo of polymetal. vitaly ness, thank you for the time. when does solid core resources coming into play? >> well, we expect that the new name will be approved by the shareholders to these general meetings and since today, actually, the new name of the company will be solid core, so we are starting the new life of

the new name to be. >> interesting, interesting, interesting then. what is your post-russia business sort of look like then as solid core? it was about se70% of your sale if i am correct and what does this mean for your business? you're not going to be the same business ultimately post this? >> definitely the asset base has shrink considerably in the russian assets but i think the company is very successful. definitely is staying the same. so we will be focusing on our core competence in complex mine development and in our global in downstream processing of our refractory concentrates. hence, our priority investment

project is the construction of the state-of-the-art of coal pressure oxidation facility in northern kyrgyzstan. i think it will evolve around those. >> that making up the significant portion of the asset base you have lost now. that is not making up for it. will that do so over time? that is the point here? that you're hoping it will take some time to get back to that basis? but hopefully, you're able to do that. is that through acquisitions or growth now that you think? >> definitely it will take some time to redeem the size of the prominence and the relevance to the global investment. three-fold reduction in size cannot be reversed overnight. we are aware of this. and in addition to the

construction, we have the other avenues of how we want to advance the goal of rebuilding the size and the profitability of the company. first, that these exploration, kazakhstan is the polprominences area. it has been very much underexplored. solid core has already accumulated substantial land bank on which to have exploration, not only in our commodities in gold and silver. we will be looking at opportunities as the current point of the site. it's a bit challenging given the high valuations, but we believe we will explore our historical

ability to find the underappreciated assets where we can bring in, not only our technical expertise and financial fire power, but also deep understanding of the industry and sometimes traditional approaches to how the asset can be developed. again, to the point, this will not happen overnight. it's a matter of years, not months, but i am confident that the newly installed team, which is very experienced, very committed, very keen to this, will be successful in achieving those objectives. >> sure. very quickly. we don't have too much time. would you be worried then about russia, seems continues interest in kazakhstan? the interest is increasing in kazakhstan despite the war in ukraine. would that worry you at all?

>> generally, the geo political situation objectively is the key risk for our company and definitely the long shadow of reference influence is something we are aware of while operating in kazakhstan. we definitely cannot influence in this respect but we believe this can be monitored and can be mitigated. given the fact that we are incumbent in the country with more 15 years of track record in kazakhstan, i think we are in privileged position to restoring some of the potential negative side effects of the trend we have described. >> very quickly then. can you confirm that you are considering reviving your london listing that is one and on

second place, would you be looking to get a little more into it considering the buzz has been created because of angelo americans assets? >> definitely the realist in london is one of the loaded objectives for solid core. now we understand that the size of the company is absolutely crucial to be relevant for the london investment community. hence, i believe the realists in london will be on our agenda from day one, but it will become a priority only after we have re-established the size. in terms of corporate, i have been on the board for the last ten years and in the previous life, so to speak. now we couldn't get enough proper exposure because we focused on russia. now that kazakhstan which has been for many years a top ten

copper producer, we believe we with reestablish our copper credentials pretty quickly, first in terms of the size of the reserve base and later on in terms of production. clearly, copper is number one commodity in terms of growth for solid core moving forward. >> really interesting conversation. join us again so we can unpack the mining industry a little bit more and so many aspects to unpack. thank you for joining us today. coming up on the show, french far right parties holding emergency talks about a potential coalition ahead of a snap election. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought

we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.

switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify.

what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. welcome to "street signs." i'm arabile gumede. raspberry pi shares soaring as

t trading begins. >> what we discovered was that, you know, there is -- there is a lot of smart money in the u.s. and it will find you where you are and compelling advantages to this market compared to others. >> apple announces a partnership with open a.i. showcasing artificial intelligence features as it seeks to catch up with rivals in the a.i. race. but shares are dropping 2%. moody's warning. could be downgraded to negative as emmanuel macron election gamble with the far right taking control of the country's domestic agenda. uk unemployment to the highest in two and a half years as political parties reveal their offerings to voters. we will speak to the labor candidate for the cities of london and westminster shortly.

european voters have largely swung to the right in european parliamentary elections with the germany and france seeing heavy losses. we caught up with the former president of the european commission who told us that the impact of therise of the right will be minimal. >> i don't think that it's very important it's march to the left or a little more to the right. the problem will be if there is a majority against european union and that did not happen. it's true this parliament will be more fragmented. there is more to some right extreme but, overall, the biggest party dpp is centre right and very center did hold

and that is good. having said that, it's probable that in some policies, there will be some reconsideration for migration that is already happening because big part of them think europe is not sufficiently credible protecting its borders, so that is something that is already evolving. also climate change. while people remain very committed to the agenda, the climate agenda and they believe there is too much effort and forget the social dimensionand the competitiveness issue for europe. so i will not be surprised if we see some -- of these policies slightly to what we usually call right but remain in the mainstream political european and i think that is good news. >> new survey has shown that 36%

of respondents want the french national rally party to win the upcoming election but double that examine it to win. french far right parties hold emergency talks about a potential electoral election. projected to gain the most french seats in sunday's european parliament vote. moodys has warned france's snap election is negative for the country's credit rating. they say the outlook could move to negative if interest rates related to revenue and gdp are larger than its peers. we saw significant moves across the bond-year-old. france's tenure served over ten points in what was biggest jump in 11 months and concerns raised about the already fragile public

finances. you can see there, the french is 3.279. charlotte is joining us for a bit of a conversation on this one. if europe is fragmented, then france i suppose is splintered and fractured in many ways, one could say. the note by moodys is not a good one for that economy? >> very interesting to see this morning. i read how they are saying markets don't share macron's risk appetite. the debt has been growing so s&p downgrade came a couple of weeks ago. the question it looks like at the moment, no party will have an absolute majority. what does that mean for key reform taken in parliament or potentially the far right being in charge? here again the only reference we have for now their 2022 electoral scrapping up a taxes under the 30s and bringing back the pension age at 62 years old

and measures extremely costly for the public finances. so that is shaking the markets a little bit yesterday so we will have to wait and see. here again, this week is the big maneuvers between all of the parties trying to form alliances because none of them looked like they could have the majority just yet. the far right holding a meeting yesterday. a smaller party tried to join forces for this election and appeal to the centre right party. we heard quite late last night the left is announcing an alliance or the socialist and far left joining forces for a popular front there to present just one candidate altogether. the joint forces back in 2022, they have kind of imploded an a lot of disagreement with their views on the events in the middle east, on europe, so a lot of division but they decided to

put this all aside potentially. we shouldn't discount the left because if they do join forces and they manage to put this division aside and depending on what candidate put forward as prime minister, they could do it but here a lot of uncertainty. the far right looking to make an alliance. president macron will be speaking later today in a press conference to explain why he called this election and why should be given the majority in parliament. all of this has to be presented by end of this week with the names of all the candidates so a huge rush in one week to put this list together and the official campaign starts on monday. we cannot project entirely what happened to european election into the parliamentary election. it gets two rounds. very different way of calculating the seat is top two candidates plus any candidate has 12.5% of the vote. so you can have three or four candidates in each contingency

in the second round. certainly it's going to be an important one for france and for europe. >> definitely one for europe to look out for as well. charlotte, thank you for that rundown of proceedings. for more on why the upcoming snap election out of france could be a huge political gamble for president macron, do check out cnbc.com. let's move to another significant economy out of europe. german chancellor ruled out calling an early election after his party saw the worst part in the eu election and his social democrats rely on a coalition with the green and the fdp which also saw heavy losses. germany is scheduled to head to the polls by autumn 2025. joining us to unpack this a little bit more is annette. has scholz risk within his party

and government by not calling these elections or a sense of saying let's maintain calm for now as we continue to build? >> it's not as easy in france to call early elections. have you to go to parliament and the parliament has a vote of confidence for the chancellor and then only the president is able to call for early election. so it's huge effort to do so. it's not so easy. having said that, let me run you through the implications where germany from those european election. i think it's a key addition of the country and that is actually what is a huge wake-up call for most politicians, especially from the cdu, because, clearly, the whole east has all voted in favor, a majority for the afd, the populist party.

it seems that he got a huge boost for the chairman of the cdu and also potentially most likely the front-runner as for chancellor next year in these elections from the christian democrats. the conservatives has a huge popularity, kaccording to a new opinion poll so he is ahead of scholz. at the same time, only 30% of the electorate have voted for the ruling coalition and they are discussing how long they can go and sort of a litmus test in the summer period when they have to sign a common ground in 2025. what i heard in berlin at least the rumor goes that this could be when one of the coalition parties could actually work out and then we would have that early election as well at some point. a lot of moving parts. one thing is crucial to look at

what is important for germans and one opinion poll that was conducted right before the european elections that ranked security, literally security first. everybody wants to have no war and security, et cetera. when i caught up yesterday with the head of the defense -- who also was the front-runner for the liberal elections, i asked her whether we actually have delivered on those concerns. take a listen. >> after the second aggression against ukraine, russian aggression, we have to think in a definitely new way in europe. it's not only a question of nations, it's a question are we able to defends ourunion? and the best way would be to create european union of defense and i know it's not easy going because it's a question of

national question but, any way, we have to start now. before the election, i talked to many members of the european parliament, different parties, and everybody said to me we have to change, we have to start a new thinking about the security. >> reporter: will you push for that idea to create a common european defense system? i mean, you have to kind of rein in all of the national egos. do you think it will be very difficult? >> you know, i think the time is now. it's time now to do it. if we are not able to doit, then we will -- it will become a real problem and i think time is ready for takeoff and we have to do it now. >> reporter: looking at the system we are currently running in germany because of world war ii and the lessons learned, so the industry can only produce when there is an order. should we change that system so

we have like the possibility of actually producing as much as possible? >> i think the industry is clever enough. they realize everybody is looking for more munition and special weapons so it's not ness. i mean, they need contract for the next years, of course, but not for the next ten years. i think their job to see, to realize what happens in the world, so we have to work together. we are not responsible for the industry. we are responsible as member of the parliament for people living in europe and so i think for everybody it would be great to work together, but really in distance and we are not --of this industry, but we need them and they need us. >> so defense is not an easy topic for everybody, especially in the east, there is not much support for the provision of

arms and weapons to ukraine because they rather want to have settlement with russia. that is at least the position of the afd but also the null party from the -- for the first time they are brand new but reached as much as 40% in one section of the country. they also abdicate a rather sooner than later end to the war with putin. not that germany has a common understanding of that issue. let me bring you back to the problems or challenges arising from those european elections. it's quite clear that the centrist party, the liberals and cdu, they need to find answers to those questions of immigration and also high inflation and cost of living crisis, not enough real estate around for people who are looking for apartments in urban

areas. all of these questions need to get tackled to get people back in their camp and away from the populous. >> thank you for breaking down that issue for us. coming up, rachel blake, we will speak to her. liberal parties are starting to revealing their offerings to voters.

what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com. people couldn't see my potential.

so i had to show them. i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. today i'm the ceo of my own company. it's the way my mind works. i have a very mechanical brain. why are we not rethinking this? i am more... i'm more than who i am on paper.

welcome back. the uk labor market is cooling. unemployment rate rose in april. wages excludeing bonuses grew 6% on the year. the uk's governing conservative party will reveal its manifest tow later this morning. tax cuts and offering to pensions are expected to form the centerpiece of the plan. meanwhile, new analysis from sky news our sister channel shows the ruling conservatives trailing the opposition all

about -- labour party. let's unpack this and the issues for the uk election as it comes up. rachel blake is a labour candidate for the cities of london and west minuter is joining us. thank you for the time. we appreciate it. one can imagine the significance of the cities of london and west minuter being led by labour for the first time in history would not be lost on you. some of the issues that could be at play and you make note of them in your campaign here which is tackling dirty money. what does that look like? >> absolutely. good morning, and thank you very much for having meal on the show this morning. so one of the things i've been campaigning on is the pro proliferation of dirty money in our community and stits and yo -- cities. you'll see on streets coming in to units and not confident that they are operating effectively.

to units and not confident that they are operating effectively. i'm concerned about dirty money in property. if you have a home that is owned by like an untransparent trust, that is a home that is not being lived in i about the local community and i'm worried about the impact that would have. also for the city of london itself and our financial services, for long-term sustainable, we need to make sure that everybody is confident in our anti-corruption measures and making sure that in the long-term, the city has the respect and the accountability to be working effectively. >> how would one, however, implement such a thing? particularly as you say the high streets, for example, even in property, how do you put that in? that is one large funding that comes in to play here and one of the big questions is the kitty won't necessarily be as big if a new cost comes into play here so you don't have too much leeway to alter things. >> one of the things that david

lamby has been talking about is making sure london is the anti-corruption capital and that involves having a whistleblower scheme and securing transparency around ownership of property and that will make a difference. another area we must think about is the enforcement of the legislation and regulations that we already have and that is something -- an issue that i've been campaigning on as well. >> yeah. as part of your central themes as well then, i mean, you've spoken to things about heating, for example, being quite significant and important. one could say the current government will say we have made attempts to reduce those prices quite significantly despite the war that russia has in ukraine. how would anything change economically then with a change? >> that is a fantastic question and it's very close to my heart. labour promise is to establish great british energy which would be investing in the renewable

energy that we need in order to secure energy security, to create jobs, and also to reduce bills. another part of our program is community energy schemes. right here in the city, we have all gay community energy, where local communities can invest in solar panels to reduce their own bills and that is something that is -- we can deliver. that is something that we really can make sure that makes a huge difference to people's day-to-day bills. another thing that i think hasn't been done nearly efficiently or on the scale that needs to be done is the insulation of our homes. we have damp and leaky homes. what we need is long-term consistent programs that make sure that we are insulating homes to reduce those energy costs for individuals. so from the long-term investment in the infrastructure that we need in this country to generate clean renewable energy right down to community energy schemes where we are generating energy locally and insulating our

homes, i think that is how we get on top of energy prices and also energy security, which as you mentioned, is so important. >> this is all happening amidst rental prices which are exor exorbitant. >> labour wants an end to no-fault convictions. i think the state of the private sector is something that is really significant here in this constituency. we have large number of people living in the private rental sector with no security over their long-term tenure in their homes. making sure that they no longer have that no fault e coviction r them will stabilize their -- to put roots in their community. we also want to see more building of affordable homes. we have got plans for new towns and plans to make sure our planning system is reformed so we can get -- >> again, that is a lot of expenditure and could be a

significant worry for the kitty that may not be looking too good. >> in terms of ending no fault conviction that is a legislative measure and something been debated within parliament for nearly five years now and they are making the case for doing that has been doing on that for a lot longer. ending no fault eviction is not a huge spending measure. in terms of getting building again, we are looking at those planning reforms and will be able to unleash the potential in this country. we want to see there be long-term investment in the homes and also the infrastructure. we can do that through reforming the planning system and securing -- making sure that developers deliver on their obligations around affordable homes and infrastructure. >> does that mean more public/private sort of partnerships to get those on the road in terms of more building? some companies looking to join up with companies to come together so this he can build

more houses for uk families. does that mean you have to partner up with them and see how best that would suit a particular mandate? >> that is already the model of delivery for new homes in a lot of areas. so you'll see developers going to the site and then delivering private homes alongside affordable homes. that is the model of delivery in a lot of areas already. >> just as we head toward the elections, it's important to dispel myths, for example, a lot of issues around whether there is a coherent plan financially as well whether it be for the city of westminster as well and london. how exactly do you put that forward? >> labour has been really clear that all of our proposals are funded and costed. when i'm out talking to people on the street, they talk to me about housing, about dirty

money, about policing and subservice. on each of those areas, we have our proposals and explained how they would be funded and that is something that we are proud of and then on thursday, we will get a chance to see the detail in our manifest owe. >> rachel, interesting. thank you very much for the time. rachel blake is the labour candidate for the cities of london and westminster. that is where we bring the show to an end. things are very interesting across the market. trying to recover from yesterday's losses. well, not necessarily being able to do that. you can see we are in the red here in europe. but where are we stateside? we will find out for you next.

what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com.

switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify.

want to save on some of the biggest names in streaming on the network made for streaming? x marks the spot. now you can add the new xfinity streamsaver™ that includes netflix, peacock, and apple tv+. that's xfinity streamsaver™ for just $15 a month. all your favorites. all in one place. only from xfinity. for more watching and less spending... x marks the spot. do it all on the network made for streaming, and bring on the good stuff.

it is 5:00 a.m. at cnbc global headquarters. i'm frank holland. here is your "five@5." j.p. morgan is holding out two rate cuts before the ends of this use. wall street climbs to fresh records and apple sitting it on. we will look into the response following their big intelligence unveil. along with that bearest sentiment on apple, elon musk making bold claims about his planned response to tim cook's ne