tom: [indiscernible]

zelenskyy is willing to meet with trump again. can europe step up support for ukraine? >> if you show weakness, vladimir putin will go after you. tom: the euro shrugs off tariff warnings and trump says new levees will go ahead from tomorrow, plus announcements of stimulus from china, we preview the national people's congress. ♪ tom: happy monday. risk of additional tariffs and futures pointing to upside, here

in the u.k. the ftse up 6/10 of 1% but a week that was in negative territory. let's flip to the 10 year. the fed will get closer to their target quickly. the currency surging, brent crude around 3/10 of 1%. a strong rally in bitcoin.

zelenskyy met leaders in london after clashing with the president and the little vice president and dramatic form. in the u.k. they are looking at a one-month truce and it is time for europe to step up. >> not every nation will contribute but that cannot mean we sit back. those willing will plan with real urgency, the u.k. will back this with boots on the ground and planes in the air. europe must do the heavy lifting. tom: joining me is ollie crook.

what details do we have? ollie: no plan from europeans after friday, one of the most shocking things in a long time, the german foreign minister said a new era of barbarity and we need a new leader of the free world from europe. a coalition of the willing, potentially putting troops into ukraine, firing back is a cease fire is violated, the way

ukraine would do that. what is in question was not just ukraine but whether the u.s. is backing nato. >> when it comes to bilateral and regional alliances, when it comes to nato that is where we need to be steadfast to americans. the u.s. will lose status as a superpower so i'm hopeful we can work with the american side. >> the president of finland is hopeful but this is a shift, moving away from the theory to

the practice of american abandonment so can you put something on paper to president trump to get security guarantee for ukraine? we will have to see. again the question is money and for trump you need to show some muscle. tom: what you think of the jousting in the conversation? this president attacked the leader of ukraine while defending vladimir putin. zelenskyy is prepared to go back, what is the latest? >> the minerals deal is on the

table but ukrainians don't want conditions for russia to move in so without backstops it's difficult for ukraine to sign on . i don't know how to move forward, that's the question. the other question, they are saying is zelenskyy someone we can do business with? will the u.s. be willing to work with him? he has said he's willing to come to the table, will trump insist he is not the person? a bizarre situation where the

united states is taking russia's side to replace that leader of ukraine. still diagnosing something that was very dramatic and european response, they need guns, ammunition, funding. tom: thank you indeed. we have a great lineup of guests this morning. someone from ukrainian prison and a visiting fellow from king's college joins us and we will speak with the former italian prime minister, mario. the euro is gaining as leaders

offer ukraine support amid concerns of a u.s. pullback. let's bring in valerie tytel. valerie: positivity for the euro as the promise of defense spending leads to growth, growth, positive growth hit. german bond futures are down, more spending could lead to more bond supply but defense stocks are in focus. defense sector has risen but how much will this go up?

tom: 25 percent tariffs as early as april talk about how this is being worked through. >> tariffs will be at midnight unless there is a delay. we heard from scott bessent advice for canada. take a listen. >> one interesting proposal is matching the u.s. on chinese tariffs, a nice gesture if canada does it so we can have

fortress north america from the flood of chinese imports. >> scott bessent saying mexico and canada should join to protect against cheap goods. fs market -- fx market is not fazed. market is pricing in a tariff delay. tom: indeed. let's check in with avril hong in singapore. averell -- avril: absolutely.

stocks following the worst selling on friday, tech saw steepest decline since he had carry trade unwind healing we can --ruling the nikkei, now being erased, hearing from local media about china and flip the board, in terms of chinese valuations taking account for the selloff it was not that bad because they were higher than the 10 year mean.

traders want increase. will that help stocks to broad and ai as well? tom: avril hong, indeed. now to product shares, trading higher. let's get more from catherine lim at bloomberg intelligence. what would it mean if it comes to poss? >> it is a good versace going through an overhaul and they

mentioned missteps in the brand so only expected to break even in fiscal 2026, so we see that drag. tom: ok. a potential deal which we will watch indeed. what now for ukraine's relationship with the u.s.? analysis with hannah from the think tank ukrainian prism. this is bloomberg. ♪

>> welcome back. ukraine's president is willing to meet trump again. zelenskyy made the comments after european leaders assembled a coalition for ukraine. let's discuss it with the director at think tank ukrainian prism. your reaction? guest: the emotions were a huge surprise vice president vance intervened, the situation

spoiled. what the conversations demonstrate is no peace plan in washington except of trying to push the side that depends on the. m. we see different statements and demonstrations, sort of cruel in terms of those statements so let's hope it was just emotions and now we will see a joint position of ukraine and europe including the u.k., canada and turkey. and the washington who will understand it is more beneficial to be winners. tom: is this the u.s. that sided

with russia? guest: that would be the trail of all the u.s. principles of democracy, the free world. the president trump himself have been calling mr. boudin for so many times -- mr. vladimir putin for so many times. we heard him talk about who started the aggression, so the shift was surprising, u.s. would like to concentrate on the immediate neighborhood and they see they cannot trade with russia, but do they understand the long-term consequences? they said china is the biggest

threat but the u.s. is acting with russia so if you lose with russia you will lose with china. tom: after the summit are you convinced europe can fill the gap of security that ukraine needs? anna: not for the 100% so everyone is trying to establish the dialogue with washington on stockpiles because what ukraine needs that is for example missiles for the patriot, that is the huge problem for the infrastructure of ukraine and there are a lot of ammo produced in the u.s. and what we saw was

munitions that is difficult for them to do it quickly. tom: what should the priorities be for president zelenskyy? anna: building the coalition and because we realized it cannot be one or two states, the global salve will surge in the markets where we can and investing it is important. let's not forget ukraine is one of the biggest exporters of weapons, we have, technology and testing so the model where europe invests in ukraine makes it more efficient and quicker. tom: what would you said to

those who argue zelenskyy should -- should -- should -- should apologize to trump? anna: i don't see anything for to apologize for the zelenskyy. lies have been told by the vice president vance, maybe as the statesman he could be less emotional but it is ukraine and he is the president and that was disrespecting him so yesterday you heard how he avoided but apologizing for what? for fighting for lives in country is when someone is telling you what you are doing and he is just fighting for us i don't know what to apologize for.

tom: director of ukrainian prism, thank you. in tums of ukraine's response. hsbc pulls back commitments in green finance. this is the bloomberg. ♪

>> welcome back. hsbc walks back commitments on climate change saying it's time to stop penalizing carbon footprints.

after criticism by republicans. an analyst who follows it joins me. how significant are these alliances? ryan: thank you for having me. most banks were members of the alliance representing trillions of lending dollars and being a member signal they were at least committed to the idea of net zero and driving the exodus is one, results of the trump administration that's been putting pressure on banks and then some banks say the targets

is a little bit too prescriptive , the problems outweigh the benefits. tom: what is it mean for green financing? brian: the impact is muted so we are tracking $1.6 trillion going into energy technology $.90 of renewable financing for every dollar and even banks that left are committing to disclosing love metric, very keen before they step away to say they are focusing on client demand.

saying there is still demand for the transition. elliot management and bp suggest people don't want this but other parts of the economy suggest green assets are increasing. tom: indeed. ok. 2 trillion. we appreciate you. plenty more coming up, stay w the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices.

connectivity is a big part of my boys' lives. it brings people together in meaningful ways. we are taught you don't talk about your problems with nobody because you could get in trouble, and i've been through a lot. anxiety, depression, sexual assault. when i decided to get help, my life changed. and the mental health box, that was one of the big tools.

accepting help means that we are allowing somebody to bless our life. it's freeing. we got stronger together. love, your mind. ♪ >> on tom mackenzie.

zelenskyy is willing to meet donald trump again, european leaders are stepping up support for ukraine. >> vladimir putin understands power. tom: stocks and the euro shrug off tariffs and new levies will go ahead tomorrow. investors watch for announcements from china, a preview from the national people's congress. futures happy monday pointing higher, 10 straight weeks of equity gains despite

geopolitical earthquakes, ftse 100 futures looking to add 53 clients and a ramp up of defense spending, strong session on friday, nasdaq to down. let's flip da board. scott bessent -- it's worth noting says bond futures are pointing lower and yields will jump on expectations of more spending. iron ore is in focus, this could be linked to tariff concerns and

stimulus out of beijing. bitcoin is down after a social media comment by donald trump and french media reported emmanuel macron says france and the u.k. have a plan for a truce in ukraine after leaders met the president, prime minister says it's time for europe to step it up. guest: this is not time for wallflowers, it's time to act and step up and lead. tom: ok. oliver joins us. the urgency amongst european

leaders is -- is -- is prominent, can they act? guest: a lot of parts to untangle, the words, the rhetoric, the question of the money and the guns in the ammo, mustering funds will be talked about, loosening fiscal rules will happen. repurchasing funds and joint debt, rearmament bank concept, establishing a new european bank in order to pay for this but you need u.s. support to continue

operating and then with guarantees how willing our europeans to put troops in ukraine and will they just observe the conditions for return fire? these are the questions for the europeans that they don't have an answer for. i spoke to the norwegian prime minister because norway is not the eu. >> europe cannot complain, we have to argue with substance and speak more. it is eu, u.k., norway, turkey. guest: a large coalition involving turkeys military and

what role they can play. norway will hit 2.16% of gdp on defense and they share a border with russia. i said is it time to take the money into defense, that's not over doing. is it time to think about investing, the geostrategic arm, build out defense, no, they don't want to. there is strong rhetoric but they will have to do things to build up. tom: indeed and europe still needs input on security and intelligence and defense in the secretary of defense called upon the pentagon to stop operations

against russia, walking back on moscow. indeed. norway was invited to the summit over the weekend. fenlon says russia will not stop with ukraine if it is not counted with strength over cease-fire. they spoke to francine. guest: no one can trust vladimir putin but do not underestimate trump's negotiations, understand that if the deal shows weakness we have all lost. it's an issue about the triangle of statehood, independence, sovereignty and territory and let's make sure they have those

when negotiations are over. that there is de facto membership of nato for ukraine which means if they don't get in there is a deal that if there is a breaking of the cease-fire ukraine becomes a member of nato. it is a u.s. idea. i think that is a good start and when it comes to defense guarantees the number one thing is defense and ukraine has the strongest and most experienced military and europe with 800,000 plus men and women, armed to the teeth. then it's always good to have friends and that's what you need in the long run, e.u. membership

and effective nato membership. calm down is my message. take a deep breath, take the ice bath and go to the sauna and stay cool and collected is the best way to deal in a world of public diplomacy where things get out of hand, let's just bring it back, behind closed doors and find solutions. tom: fenlon's president alexander speaking to francine talking of the need for defense in europe, defense stocks rally today and rhetorical commitments ramp up spending.

similar moves across saw, systems, innovation, double-digit gains that we watch in the lead up to the open, expect strong reactions. what stay on the defense story because germany's parties forming a coalition, germany's ability to support europe in ukraine will depend on whether politicians put party agendas to one side. they are the author about a book about the history of east germany called beyond the wall and she joins me now. what your expectation, good morning, thanks for joining us, when we know about these talks? is germany sidelined when it comes to defense in the urgency?

katya: it is sidelined at the moment, france and the u.k. have taken the lead and rightly so, since they can act and do things whilst the german chancellor olaf scholz is a lame-duck chancellor, we've seen that in london, greeted with a friendly handshake, not the enthusiastic hype that emmanuel macron got. they need to hit the ground running on defense and geopolitics. tom: what is the ability of german need to push through defense spending before march 25? katya: so the urgency is the old parliament is sitting so old

majority is in place whilst new one will have a large section of the far right and far left and afd came in second, in the election. they get 1/5 of seats. far left made huge gains in both of them are anti-ramping up rhetoric and action against russia and support for ukraine so they will form such a large minority they can block funding so can they do something before the new parliament to wrap up spending? there is a sense that new

parliament reflects what people voted for, so addressing with the old one might cause some public anger. tom: how does he -- how does he -- how does he navigate the blocking? how much of a block will that be for the chancellor? katya: it's an issue within his party, many are fiscally conservative and they have the debt break, it means germany cannot do much so any extra spending would have to come out of the existing budget so everything they have to do is declared as emergency as with

olaf scholz when russia invaded in 2022, creating an extra budget and they would need the two thirds, so this is a big issue to convince people to do that. tom: what -- what -- what -- what -- what is your expectation of when the coalition is formed? cocktail: look like they were going to the motions at a pedestrian pace with silence around coalition talks and nothing happened for a while and they expect a coalition by easter which would be quick. given the situation, there is

understanding now because of the talks of zelenskyy and tromp, this needs to be done quickly and needs to be urgent so this coalition, one would hope that they have something in place. tom: is the german public putting german boots on the ground? cocktail: the public is split, in terms of ukraine there is more split than beefing up parliament. overrule, in terms of boots that is the critical issue which requires convincing and leadership to basically say it

needs to be done despite the fact that it will not be popular and germans are skeptical about military involvement of germany. tom: takata, author of beyond the wall, someone with deep expertise in politics of germany, thank you. coming up, robotics and artificial intelligence. the rise of humanoid robots is very much a prominent trend this year. we speak to a company at the forefront next. this is bloomberg. ♪

tom: with increasing pressure on

labor markets humanoid robots are becoming commonplace in the market will reach 30 $8 billion by 2035. virginity robotics is developing humanoid robots and the ceo joins me from barcelona. good morning, thank you -- thank you for joining us. is this the year when humanoid robots are in factories and workplaces? i was in a restaurant and there was a little robot who delivered my food, is this the year when we move from social media to real humanoid robots in the workplace? guest: it is the year.

we now have humanoid robots stepping in and doing tasks that they cannot find humans for, dirty, repetitive and dangerous parts of the job, these robots can now perform tasks as well as humans. tom: what are the key challenges in rolling these out at scale? peggy: some demos, there's a lot of hype, but robots have to do what humans do. they have to lift 25 kilograms, that's a lot. and be dynamically stable, so these robots move like humans and they stepped into human spaces so they need the right

actuators, the parts -- and the motors that move the limbs of humanoid robots. some of those are challenging to overcome but we have overcome that. tom: how -- how much demand are you seeing? what -- what are your clients, who are your customers, what sectors? peggy: we will ship this year in the hundreds and many more next year. clients are in logistics, warehouses with a lot of material handling of our jobs that have been hard to fill with 1.1 million open jobs in the u.s. in that sector, so those are points of entry and from there, as the robot learns more, it can step into the workflow of facilities, see an increase in number. tom: what role does ai development player?

peggy: that has been a critical new technology. we had a traditionally controlled robot but now with ai you can add semantic intelligence, so we can say to dig it our robot, clean up the trash. they can look around, perceive what is trash and then put the trash in the right bins. that is the type of new features that that ai is introducing to robots and it is a real uplift. tom: to those concerned about robots taking over jobs or safety how do you address? is there a safety mechanism in place? is this replacing jobs or complementing workers?

peggy: think of it as a new tool , it takes part of their jobs, the tasks that are dirty, dangerous and repetitive. on safety today there are no humanoid robots outside of a work cell, they need to stably draw down with the human approaching them, we are going to be the first company to come out of the work cell later this year. we have solved for that, these robots must act safely and we figured that out. you will see them later this year. tom: fantastic. peggy, ct oh. giving a speech in congress in barcelona later this week. sean bacon wins three oscars for

a film about a sex worker who marries the son of an oligarchy. they converted nominations into wins. the other acting awards went to zoe saldana and kieran culkin. plenty more coming up, stay with us. this is bloomberg. ♪

>> welcome back, happy monday. european futures on the front foot. pre-market pricing higher double digits the moves expected now. these stocks performed strong week. 60 7% gains year to date alone. coalition of what the willing is

how the u.k. prime minister described it. more details on defense spending on wednesday so watch out. watching defense stocks this morning, let's look at the counter to that, to what extent will that be derailed if tariffs come into play? 25% on mexico and canada, 10% additional on china and threat of tariffs on europe, the markets looking through the risk with comprehensive coverage on ukraine throughout the morning. he will speak with westminster global ceo and former italian prime minister. opening trade is next. this is bloomberg. ♪

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anna: good morning from london, i am anna edwards alongside guy johnson and lizzy burden. european defense stocks called