♪ good morning, everybody. welcome, you're now watching "street signs." i'm louisa bojesen. your headlines today, big banks, small profits. first quarter earnings and they drop by two-thirds at ubs as market volatility bites. >> in this environment, zero or negative rates, you make no money. or you lose your money. and in addition to that, with new regulations, you have used capital requirements. so it's a double whammy. >> but hsbc and "b" bnp-paribas.

>> particularly domestic markets and international financial services have held up well. pricing pressures, ground shares have lufthansa and the german airline reporting at lowest capacity for the year. this right here, that's the moment leicester city players become champions for the first time in the club's 132-year history. what a celebration, against all odds. what a celebration. incidentally, our.com team has written up great stuff on that victory. if you're interested on the football details head online and take a look at the piece by our

cnbc.com team. an hour of trade. we've got a lot going on. our stocks lower by 6 percentage points at the moment. we're trailing a little bit. we're being led down by basic resources stocks down. after the likes of lufthansa pulling lower. our main european markets down by somewhere in the region of a percent, a percent and a half. with the dax down a bit more than that. having dropped below that, 9954 is where we're at. and the banks, shares of ubs, they've been sitting at the bottom of the stoxx 600 after the company posted a significant drop. switzerland's biggest bank revealed a profit of 707 million

swiss francks. it was a drop. julia, we've seen this drop in the u.s., very low transaction in the first quarter. they did see a rise in new net clients, is that correct? >> you're right, louisa. there's a couple of things, the first point you that made about the 65-point in that net profit for shareholder, in the first quarter of 2015, we have the swiss national bank moving back that cap. interestingly position right from that. they benefited from the volatility. but the comparison was always going to be tough. if you look at the first quarter adjusted profit before tax shy of 1.4 billion. that's shief consensus, i think that was the first thing. they were profitable in all of their business areas, particularly on the massive equities divisions.

assets telling me the worst performance for 18 years. as you said, pronounced client risk aversion. low transaction volume. the strength that they did see, though, was in wealth management overall, 29 billion swiss. the problem is as the ceo alluded to me, in this kind of environment when clients are so risk adverse, why do you do with that cash? particularly when withholding that cash costs you if you've got negative ranks. listen to what he had to say about where the inflows are coming. >> asia pacific was strong in the u.s. we had almost 14 billion of inflows. and of course, what we can see also there is the risk aversion. because the numbers are very strong. there is negative contribution from loans and leverage. so it's another real sign of the money san important factor for

us. we are immediately looking at quality on hedging money, so money that would be deprived any of us over time. the fact that you see less demand for leverage is another leading indicator for risk aversion. >> the reports that you were going to do with the management business that could result in drop cuts, can i just get some clarification on that, whether it's still within where it's already been announced for cost cuts? >> exactly. so what we are doing is a combination of what we announced already in terms of the first two quarters in terms of efficiency programs particularly on the back hand of the equation. what we do, likely on the front end of the clientele part of the equation. we are rassalizing and it's part of ongoing programs we announced a while ago. >> you already talked about it, but in the asset management business, it was clearly tough and outflows there, too?

>> well, particularly on equities and active equities the worst quarter in 18 years. and so, of course, you can see also in addition to that, outflows, even by liquidity needs, coming from institutional investors. so, i would say, yes, it's a challenging environment. >> investment banking also comprises a smaller portion of their earnings around 15%. but we have heard from all of the banks here, they've had a tough quarter, too. 20% drop in equities just to give you a comparison. the one thing i heard from sergei emotte, what we haven't heard from deutsche bank and as it went into march, those banks actually showed that it improved. he was bearish, too, as far as

this quarter is earned, i would argue. i think investors are also focusing on weakness in the core ratio. 50 basis points lower than what we saw last quarter. i think investor, looking at this in a number of elements that is the net profit before tax and also the relative capital weakness. compared to other european banks, and it looks pretty strong to me. louisa, back to you. >> julia, good to sigh out of zurich. thank you very much. julia will be back soon again. shares in germanys comb comberbank. germany's second largest learned warned that it would be, quote, ambitious to hit the highs of 2015. then you've gault bnp

paribas enjoying an increase. for lower provisions for bad loans. this taking place as the french bank beat expectations to post quarterly profits of 1.8 billion euros. in paris, bucking the trend, revealing better than anticipated, and a rise in profits? >> that's right, louisa. in fact, it was a 10% rise in the net income of shareholders over the same quarter last year. so that is good news. i spoke to bnp-paribas, he told me that they were yabl to offset the first quarter largely due to lost containment. and loan provisions. that, of course, is good for the bottom line. i also saw resilience. but you can't ignore the corporate and institutional banking unit. a dropoff in trading revenues and also in the commodities and

currency business. that's a double digit in the percentage region as well. for now, the bank is sighing they are managing to offset the negatives by containing costs. however, they were a bit cautious on the outlook. they wouldn't state exactly where they see profits and revenues going for the full year. overall, they hope to be on target, and they did get an uptick on the capital ratio just on the quarter as well. nevertheless, when it comes to predicting what's ahead. you have to keep a view for the low rates globally and the negative interest rate environment. i asked the cfo, exactly what the impact was and what the benefit was from the touts from the negative rest rates are starting to diminish. here's what he had to say. >> what you have to observe, today, with eurozone, we flush with liquidity, we have more than 100 billion uros at central banks. we have an available liquidity

of almost 300 billion. there is, from that point of view, a lot of liquidity which is still being stocked by the banks that should find its way into the economy. >> and how do you see loan growth, loan demand, because loan demand remains a key question? >> yeah, indeed. if you look at the eurozone, it seems like it is kind of weathering the global slowdown. and that's for a big part, stemming from the resilience of the domestic demand. that's basically what we see. if we look in belgium, we see loan growth. in italy, we see loan growth. so, yeah, there is this part. i mean, it still remains a little bit fickle so we'll have to follow it quarter by quarter, but there is this -- yeah, this resilience in domestic demand. >> so resilience in domestic demand. that was the clear message from the cfo of bnp-paribas.

that, of course, celts the stage very nicely for french banks as they're the first to report for q1. next up, softchance, we'll be focusing on the key banking investments, global markets because this is a bank here in france disposed to that side of the business rather than the retail where you see bnp-paribas. that will be one go we ask for softchance. >> nancy, look forward to seeing you back in the studio as well. >> looking forward to it. >> nancy on the road there, live in paris. a lot going on within the banks today. investors hopes of higher dividends preparing to fade as hsbc reported a flat capital ratio and a 14% drop in quarterly profits. despite this, earnings, though, fell less than expected thanks to a tighter grip on expenses

and a better performance from the bank's trading business. get on stuff, on e-mail, as you'll, "street signs" europe @cnbc. you can tweet me directly as well, at louisa bojesen, especially if you've got any questions or comments you want to pose that you want me to pass on to our guests. we've got the founder of bodyism. he's with us, in around a half hour's time. if you have any fitness questions or anything related to health, do e-mail through a bit of a success story when it comes to a startup that's turned quite profitable. or quite successful. we'll be talking about that with the bodyism founder. coming up here on the show, speak of success, they think it's all over, check this out, well, it might be now because leicester city, they're the champions of england. join us after this as the jamie

vardy party begins in earnest.

hi, everybody. welcome back. you're still watching "street signs" here on cnbc. i'm louisa bojesen. in european corporate news today, phillips has announced plans to spin off its lighting business in an ipo. a unit which analysts say could be worth 5 billion euros listed on the stock exchange. the ceo said phillips lighting is, quote, well positioned for success in a standing alone company. lufthansa a wider floss the first quarter but it improved. it increased capacity in 2016.

bmw german carmaker reports a decline in costs but sales are accelerated for an all-time high for the quarter. bmw backing its look for the year. and shares of aig fell in after a-hours trade after it missed us. the insurance company posted first quarter adjusted earnings of 65% a share versus the $1 expected in the thompson reuters investment. mary thompson reports. >> aig reporting disappointing results missing analysts' estimates for a third quarter in a row. the insurance giant hit hard by the market volatility during the first pleathree months of the y. in particular, this hurt hedge fund investments. and it put pressure on it.

adjusted earningses of 65 cents a share came below inteshare. consumer and commercial became in below wall street forecast as well. aig is in the midst of restructuring, of course and it did report improvements on a couple of key metrics. it's return improved, and the company cut expenses by 5% in the first quarter of last year once you account for currency translations. importantly, the combined ratio which say measure of profitability, that, too, improved in a number of business lines. most notably, its commercial and property casualty line and consumer personal line which say bright spot in an otherwise dim quarter for aig. back to you. now, it was a miss on both the top and the bottom line for hugo boss with the fashion house blaming weak sales especially in the u.s. as well as a measure in china as well. the retailer posted an almost 50% drop in first quarter

profits. hugo boss is trying to reigning in costs. calling in from paris, managing editor. luka, what's going on with hugo boss. they're planning on cutting costs. they warned us that profits were going to be weak but seem this lowered other targets by even more this time around. >> yes, indeed, i think the issue at hugo boss, it remains quite negative. my doubts concentrate on the strategy that they're trying to with the strategy. it's improving difficult to execute and also facing opposition from wholesale. one other point you that need to know, is that the wholesale indiercks we've seen going down as large department store chains have difficulty in playing ball with the new positioning of the

brand. >> yeah. the difficult global environment that they reference, they talk about the u.s. and china. look at what's going on in europe as well. it seems as if they're also looking to shut weaker retail outlets in europe if they have to. how is europe holding on compared to elsewhere for them? >> it's a bit better. i think. hugo boss has its core in europe and that's to making their abilities stronger. in asia, they clearly suffer through higher priced lines. they corrected this price positioning to some extent in china. in the u.s., the brand continues to be weak. you know, the environment is difficult for everyone. and not everyone is suffering as hugo boss is. it's clearly a time for something to be changed in the strategy and in tapproach. >> do you have faith that they

be doing what needs to be done and also with the strategy change which is wanted by analysts out there? and we're also looking at a change in management. they have a new ceo. i know the chief brand officer is new, too. is that a complete shift for the company? >> yeah, it's clearly a company in transition at the moment. and the organization, the senior organization is changing. the immediate program to cut costs seems, you know, commence commonsensical. it has to do with the positioning of the brand has to achieve long term. there was a plan to bring the brand up market. this is not proving truthful at the moment. with a new ceo in place, if strategy changes towards a stronger positioning which is

our view is probably where hugo boss should play and where it should be successful. >> i look at the stock and it's down somewhere in the region of 30% in this past year alone, this 2016, that is. how do they compare to some of their like minded rivals out there? >> they have underperformed, clearly, with two profit warnings in a row. and with this mess. really trading hugo boss, if you look at the luxury goods stocks varies, probably one of the most compelling which is one of the lowest of all of the european parts of the company. and that's the potential going forward. providing that it's able to deliver positive growth which remains an asset with hugo boss.

>> so would you say it's too early to get back into the hugo boss stock if investors are interested? do you wait to see whether or not this restructuring or turnaround pays off? or do you take a chance? >> maybe, you can have it really, considering the valuation, hoping that the new strategy and the new ceo are in the right direction. but in the immediate month, i would see about what is to come. >> luca we've seen volatile moves in the euro dollar. forget about other currencies right now, but the euro dollar moving substantially? >> yes, indeed. i think that this has been impacting the way our consumers buy their products. over the course of 2016, on the

back of a very significant increase in demand of products. more recently, there was a reversal in this on the dollar weakened somewhat. and you can take into account, when you look at the bottom line impact, luxury companies hedges are in place that typically cushion currency impact for the next month. so, it is a way for 12 months, where you actually see the impact of major currency changes which is making us contractive on what is to come in 2016, because of a year ago, this would be a fair win for the bottom line of most luxury companies. >> looking at the euro down.

from 1.05 in december. and we're now 1.16. thank you very much. managing direct at exane bnp paribas. 1.16, we'll keep an eye on that four. speaking of the fx markets, let's just show you other moves as well. right next to that is the dollar yen. 1 ooch 1.05 and a bit. here we see this massive japanese yen strength just continuing. not all that long ago we were at 1.10, 1.11, and then it's speculation they might have to step in because of the yen's own waving of strengths. the u.s. treasury putting japan on its new currency monitoring

list. that should make it harder. at least from political perspective. but whether or not they are looking at this monitoring list at japan. e-mail the show. good morning, gary. good to have you with us. linda, good to have you with us as well. loads are sending comment use, street signs europe @cnbc. @streetsigns cnbc, that's the show. or twitter handle, @louisabojesen. we have the founder of bodyism, coming up in 15 minutes. you've got questions about supplements, how you should be moving. send them in. what a difference a year makes after escaping the jaws of relegation, leicester have completed the unlikely equivalent of sporting victories

by sealing the title. the club clinching the crown last night after tottenham failed to defeat last season's champions, chelsea. the club's maiden win, celebrating late into the night. many, many happy fans on the streets. so, yeah, that's taking place. you can head online, a great piece written by matt from our dotcom team on what happened. put itting football aside. a different programming note, the spring economic forecast later this morning. join us for live reaction with the commissioner pierre moscovici. you're still watching "street signs" here this morning. we'll be back after the break.

big banks, small profits,

first quarter earnings, and ubs market volatility banks. >> in this environment, zero or negative rates you make no money or you lose money. and in addition to that, through the new regulations, you have a huge capital on requirements. so it's a double whammy. >> but hsbc and bnp paribas surprised to the upset. france's largest bank telling cnbc that prices are reville yent despite unfavorable conditions. >> for the bank as a whole we had a good set of results particularly domestic markets and international financial sources have its rev news held up weld. rising pressures and lufthansa reporting a greater than earning capacity for the year. and this right here, that's the moment that leicester city players become premier league

champions for the first time in the club's 132-year history. what a celebration last night. perhaps you were part of it. perhaps you're just interested in reading the details. head online to see the details of how this very unlikely club won the championship. now, we're just sitting tight. i knack see it clicking through right now. we're waiting for the uk manufacturing pmi data hits the wires. 49.2 for april, versus 57.7 in march. that's a lot worse than expected. the poll was 51.2, again, we game in 59.2. that's in contraction territory. it's the lowest in more than three years, so uk manufacturing unexpectedly shrinking for the month of april, reaching a three-year low.

sterling against the greenback. let it settle. let everybody take a look at this data. and we usually tend to see a bit of reaction there in sterling trade. now, of course, a whole bunch of other things also weighing in on sterling trade right now, especially this uk referendum that's coming up on important the brits will be staying in the eu or leaving the eu. but this data, definitely a lot weaker than anticipated. again, the manufacturing pmi, the poll was for 51.2. instead, we got a print of 49.2 for the month of april. speaking of data, in china, the chinese factory activity shrank for the 14th consecutive month. and the private survey show a slump in demands pushing economies to shed jobs at a higher rate. the rba, the reserve bank of australia cutting its key cash

rate by 25 basis points to 1.75%. this happening ahead. budget announcement and the looming announce. sri jegarajah joins us out of singapore. that was a surprise, sri, are they cutting more now? >> that's a big question. actually in the beginning off of the easing cycle here and now the markets like this 25-basis point cut and week lows. a six-month high. if you look at the australian benchmark, 5053. aussie dollar got crushed as well. at one point we were down by 1.5% against the greenback. and i wanted to talk about china as well, you touched on this, lou. we saw the 14th straight month, that's what the private manufacturing surveys told us for the month of april. the marketing interestingly, brushing this one off from the idea that this builds the case

for more stimulus being a cut in the benchmark lending rate or a cut in the triple r. if you look at the maven markets in terms of context this is the best day in nearly five weeks. let me just remind, this was not a conviction rally. the volumes were not behind this for the mainland markets. you're not seeing the nikkei because it's closed for public holiday. but when it does start trading it could very well get crushed, off by 2%, 3%, correlation between the fx markets and equities still a powerful one in japan. and we continue to see that weakness in the dollar yen crossed off, lou, with that yen appreciation, bad, bad news for corporate japan. exporters as well. and that's going to continue to be a drag on sentiments. where we stand, back to you. >> you're pretty fit, sri, you like to stay fit or healthy. >> i try. >> any questions for the founder

of bodyism in 10 or 15 minutes? what do you want to know about a fit male? >> how to eat. you're not eating right. you can put in hours at the gym, if you're not complementary enough. what needs to go in. >> do you take any supplements? >> i don't. just chasing after the children seems to do it for me. >> that should be enough, perhaps. sri, thank you very much. i'll ask him. i'll ask him on your behalf, what you should be eating. i do start my day with like this disgusting green drink. i won't mention the brand. anyway, we'll talk about that in a few minutes. let's check in on the u.s. futures and see how we're being called on the open. we're still a couple hours away. the implied open there on the right-hand side of the screen, being called lower. a bit lower. dow jones off by 1 is 01 points.

here in europe, we're seeing quite a bit of red on the screen as well. a lot of it coming on the back of this data, the banks shrinking for the 14th month since april. that means we're questioning whether or not a demand maybe stagnating out of china. auto is also seeing quite a bit of read. mario draghi has now come out fighting against berlin's policy saying germany's own saving culture may be to blame. speaking in frankford, he said, quote, right way is not to address the symptoms but to address the underlying cause which he says is due to global excess in savings. >> there say temptation to conclude since very low rates generate these challenges, they are the problem. but they are not the problem. they are the symptom of an underlying problem.

which is insufficient investment demand across the world, to absorb all of the savings available in the economy. >> well, karen's there in frankford. so, it's the germans' own fault, karen, they're saving too much? >> it's been very amusing, the conference that's taking place here, louisa. as you can probably see, people milling around, it's a very relaxed, calm conference. people having debates about what's happening against economies. i was on stage with mario draghi. don't forget, we're here in frankford, with these members, particularly the german, about monetary policy from. and that's taking place. in the backdrop, you've got angela merkel touring around speaking, pressing the case for more german exports.

but taking a swipe at supply chains across emerging markets calling for decent sand fair practices. all that as emerging markets come to europe. and talking about the challenges they're facing, depreciating currencies, and you can see the undercurrent taking place across the board. let me just reference this music that you can hear behind me. this is not the call of more central bank action. this is actually japanese music as the annual meeting is going to shift to japan next year. i think one of the expectations has been the chinese bank set up for economies. no one was very welcoming when this bank first came to light, even adb because it was seen as one of the world challenges. but the president of the bank was here yesterday, talking about how he's trying to smooth

over the waters, particularly in washington. take a listen. >> if it were a headache for some of the american people, the headache is gone. and i just returned from a visit to the united states, i'm very pleased to see the u.s. government officials very positive about the constructive addition to adb family. regardless of the membership of the u.s. in this bank, we are looking forward to be working together with u.s. companies, american professionals, who are actually work in our bank. so, please feel relaxed, no headache. we would have great prospect of cooperating with another nbbs and cooperation with member countries for other countries who may not be joining anytime soon. >> let's focus on the direct criticism from u.s. officials about high standards and transparency. they say there's no day-to-day

staff involved in the projects. so to see them which means you can't follow through with transparency. why is it a hands off approach to the projects you've been investing in? >> we go by the highest standard. and it doesn't make any sense for me to convince you today how well we will be performing. we just give you time to see how we finance our projects, how we meet the standards. because i don't think you can talk people into believing you. the interest has to be earned, credibility has to be earned. so i'm very much serene, relaxed. i'm not worried. and some people are critical. actually, critical comments could be a warning to us, reminding us that it's absolutely necessary for to us do good here. >> you mentioned you just had conversations with the americans. how have talks gone about

including washington with aiib? >> we invite the united states from day one. whether united states will join or not, it's the sovereign addition of their government. the door is open, and the door will remain that way. >> the president of aiib speaking to me there. i think it's fair to say money coming from the chinese, whether from the development bank, to the chinese government from private investors, welcomed by many companies who having shoved out. aiib has been putting money into a project there with adb. i think if you look at the way financing across the region, let me give you an example, we talk about a low interest rate environment, it's not the case across the globe. 20.5% in india, very, very high, if you try to raise funds there

for individual projects. it's not an even playing field. they feel somewhat a victim, almost a bystander, as they await policies, particularly the fed when they see with their country no matter what they're trying to do in order to correct fiscal deficits, didn't make a difference. and that's one of the chief concerns now, as they all stand back and wait, for more policy action by the fed this year. louis, let me toss it back to you in the studio. >> karen, good to see you. thank you very much. from frankford to the u.s., ted cruz is making what could be his last stand to stop donald trump from winning the reputation nomination outright in today's indiana primary. meanwhile, the democratic front-runner hillary clinton is hoping her showing today will convince bernie sanders to end his campaign. nbc's edward lawrence is in washington. edward, it's heating up, the last stretch? >> really, louisa, all eyes are

on indiana at this point. it's an open primary, that means that independent voters can also vote in this primary. historically both bernie sanders and donald trump have done very well in states with open primaries. now, senator ted cruz on the republican side has drawn a line in the sand. and that line goes right through indiana. he's spent week it's in states trying to unseat donald trump as the front-runner and favorite among voters in indiana. still donald trump has a double-digit lead over senator cruz in the state. and donald trump calling senator cruz, quote, crazy. on the democratic side, senator bernie sanders says that he will not bow out of the race. sanders again hit hillary clinton about the money she made on wall street. sanders saying that hillary clinton did a speech for $225,000 that only lasted 20 minutes. and he said, quote, it must be an unbelievable speech. senator bernie sanders again not letting up.

hillary clinton has moved on from indiana and is in west virginia now trying to persuade coal miners there that she's on their side. hillary clinton has said she will make a better future for them. again, indiana finds itself right in the middle of this next step. a. >> reporter: contentious primary. to put some of the odds in perspective. it's not quite as bad for bernie sand tors win the nomination as leicester did to win the european cup or win the english premier league soccer at 5,000 to 1. however, expert says it is very unlikely that he will not be the nominee on the democratic side and what he's trying to do is move hillary clinton's platform to the left. back to you, louisa. >> nbc's edward lawrence joining us live out of washington. shares of the tech giant apple, they've been trading in a manner not seen hisince '98. wilfred joins us.

wilfred, what's going on? we have seen a change in apple shares as of late? >> we certainly have, louisa. on the longest losing streak down 18 years yesterday. it comes after the tech giant reported its first ever quarterly decline in iphone sales last week. but in an interview with our jim cramer on "mad money" last night calls it a huge overreaction. >> i think that's a huge overreaction. we actually had a huge quarter. $50 billion in revenues. $10 billion in profits. to put that in perspective, the $10 billion is more than any other company makes. it was a pretty good quarter but not up to the street's expectation, clearly. >> and cook is still bullish on apple's key market of china. >> i could not be more optimistic about china. i think the long-term thesis is intact.

there has never been anything like it in the history the world. and i'm still as optimistic as i've ever been. >> cook argues the most important thing for apple long term is that its customers love its products, particularly that comment we just heard on china, that was quite different from the conference call last week. it will be interesting to see how the shares react today given that change in sentiment just over the last week on its key market of china. agency of the broader markets, yesterday, we had the best session for about three weeks for all three of the major indices. though today, futures pointing at the moment about 0.5% across all three. on that note, louisa, i'll send it back to you. >> wilfred. you're fit, you like working out, staying fit, stuff like that, anything you would want to ask the founder of bodyism who joins us here after the break? >> is bodyism a gym company? >> they train people. they have a relatively new

concept. they train people. they have supplements, things like that. very into healthy food which you can buy through their stores as well. i mean, they kind of cover everything. >> any cheating tricks that can allow us to stay fit and healthy without too much effort, louisa? >> that's a good one. i'll ask on your behalf. wilfred, thank you very much. wilfred joining us by our headquarters in the u.s. activist with the embattled pharmaceuticals ackman hoarse pershing square owns 10% of it. >> the market is already skounting companies where price say meaningful part of the growth as the driver. this stock is going go from $30 a slayer to $120 or $270. and we're going to build a great

company. and build a company that grows largely on volume and not based on massive price increases. shares on yelp gross as greenlight capital took a stake in the company. greenlight predicts a 30% upside for the stock. and now as said, quite exciting, after the break, i'll be whipping up a healthy shake -- actually i won't be. the bodyism fitness guru james duigan is in the studio. e-mail any questions you may have on fitness.

hi, everybody. welcome back, again. you're still watching "street signs." i'm louisa bojesen. every month, i wake up i have my water, which is very important. start the day off with water. and then have a disgusting green

supplement that i like to drink. i won't show it to you and i won't name the brand. it's supposed to be very good for you. is it necessary. on top of, of course, summer is around the corner a lot of you want to properly get into shape. and just thinking about what might be a quick fix, we want the healthier lifestyle for the longer term. how much exercise should you be doing? all of these things put all together, let's talk more about it, james duigan who joins me in the studio. the founder bodyism. welcome. >> thank you very much. >> we met 15 years ago. you were a trainer. >> i was. >> at the gym i went together. we never worked together, you were always training the women. and it's transformed into a business. >> yeah we have. we've been incredibly lucky. we've had great help along the way with a good idea you that believe in, the sky's the limit. >> i know you train a lot of

women, women at lunch. in a cheeky manner, my workouts were crazy at the time. is bodyism different? >> i think it's based on things that really work. our business has relied on getting results to people. we've been able to translate that into a wonderful philosophy that generally helps people. we've understood, it's all about simplicity, you've got to keep it easy, otherwise it won't work. >> here in front of us, you have a whole bunch of supplements. >> body brilliance, i created six years ago. everything we've been doing, "a," we were told not to do by experts, but it's to fill a need for people that we know that work hard to get nutrients into their system. body brilliance is like a salad. is this how easy it is. you taupe up, you put a scoop in your blender or mixer.

then we made beauty future which is peptides and super greens. a lot of us are deficient in nutrients. the food that we have now, it's just not the same as it was 50 years ago, because of farming methods, whatever. we put that in. it's nourishing as well. it's taken us 11 seconds, you put rice milk or almond milk, cat milk. >> cat milk? >> well, you have to declaw them -- no, no, never milk a cat, it's dangerous. then you blend it up. and there you have it. that's a nutrient-dense breakfast. people will say, well, should that replace breakfast? no. a lot of people have a coffee and get for breakfast. it's better than that. if you can have eggs, spinach or oats or flaxseed, that's fantastic. >> a lot of people watching, a lot of traders in the city busy,

et cetera, they've been watching thinking why shouldn't i be putting greens into this, why the supplements? >> we've done that for you. we've put the greens in for you. because we know how busy people are. and how that one extra step will mean that someone doesn't do it. we have taken that step out for people. that's the same philosophy as well you can't count calories because it's boring and joyless. we know that diets don't work. >> you trained people as well. i've been asking a whole bunch of our guests, what would we ask you. a lot of guys want to know, what should i be eating any quick fixes like wilfred and my colleague in the u.s. wanted to know. people writing in as well. a couple questions i just jotted down. james from monaco said he's doing a vegan sports diet and he loves it. what do you think of animal-based product versus well-designed base products?

>> that's the key there, well-designed. so becoming vegan isn't just giving up all animal products. it's how you nourish yourself and getting a perspective of amino acid, so be careful, definitely. but it is great. the world would be a better place if we are all vegans but we just can't all to it. we're all different. >> we in news tend to work funny hours, right? >> yes. >> that's why in the past my hours of going to the gym were quite nuts. for a lot of people it's a busy lifestyle. it becomes an issue what do i have time for? what do i prioritize on, my family or an hour of gym. >> yes. >> how much do i need to work out to be healthy i knew back in the day, you were working out quite aggressively at that time, it seems like you've switched into a softer way of thinking about exercise? >> yes. 100%. we hope that life is long.

that being the case. exercise is there to build you up and energize you and nourish your system. the same with the food you eat. if you're in a punishing class where everyone is screaming at you until you throw up. if it sounds crazy, it is crazy. diets don't work. be kind to yourself, we have that written on the front of our building we really mean it. it's a more efficient way of doing things than smashing yourself and counting calories, without a doubt. >> james, thank you very much. james duigan, founder of bodyism. now, that brings us very close to the end of the show. i just have to glance at the u.s. futures as we're called a little lower on the open. the dow being called off by approximately what 110 points now. so we are looking at negative stock state side. the european markets also seeing quite a bit of red down on the

screens. just over 1.5%. we're continuing to see selling taking place, especially in basic resources. the fx markets. 1.16 in the you're low dollar, 1.1591 at the moment. and the dollar/yen continuing to see a lot of pressure, the japanese yen on a real tear, that's not stopping by the looks of things. 105.64. australians, well, they cut rates unexpectedly, that's led to further aussie dollar weakness. last but not least, commodity markets just rounding off, bent and wti crude and spot gold, 1298. we're hanging ton slightly lower price of gold.

copper down off the data out of china. that's it for the show. keep the e-mails coming in if you have questions or comments. you can find us on twitter as well. we're all under @louisabojesen is my direct handle. we'll see you again. for today's show, thank you very much. "worldwide exchange" is up next. good-bye for now. louisa bojesen.

good morning, breaking overnight, a central bank shocker australia surprises investors with an interest rate cut. we'll bring you market rate reaction, straight ahead. not so fast, tim cook has a message for wall street. saying the iphone is not dead and neither is his company. plus, one of the greatest cinderella stories of all time. a 5,000 to 1 shot winning the english premier league. congratulations to leicester city this morning. it's tuesday, may 3rd. "worldwide exchange" begins right now. ♪