good morning welcome to "street signs." i'm joumanna bercetche and these are your morning headlines the stoxx 600 hits a record high and shanghai composite with the best since june as they ease the economic pressure from the coronavirus outbreak bayer hits back after losing a key crop damage lawsuit alongside basf saying it will swiftly appeal

the shares trade lower. full steam ahead for alstom shares after the french trainmaker says it's in talks. airbus shares hit a one-month low as they say they deeply regret a u.s. decision to hike tariffs on european-made aircraft. good morning, everybody. happy monday the story we've been following the last couple of weeks that has gripped markets and the world, let's talk about coronavirus. chinese authorities have reported almost 2,000 new cases of coronavirus and 100 new deaths it takes the toll -- total death toll to almost 1,800 the rise in new cases reverses

two days of relative declines over the weekend the 380 american nationals quarantined on the diamond princess cruise ship off the coast of japan disembarked after two weeks. they were put on charter flights returning to the u.s around 40 americans tested positive for the virus and will remain in japan. and europe has seen its first coronavirus fatality after an 08-year-old chinese tourist died in france. egypt also confirmed a case of coronavirus. that is the first in africa. a speech by chinese president xi jinping suggests the country's top leadership knew about the dangers of the virus two weeks before making it public xi said he began giving orders on how to combat the virus on january 7th, however, officials only revealed the virus could spread between humans in late january. several authorities in hubei, the epicenter of the virus, have

been criticized and dismissed over their handling of the outbreak china's central bank has cut its medium term lending rate as it scrambles to ease the fallout from the coronavirus they will lower the interest rate on 200 billion yuan on loan to financial institutions and they are expected to announce further easing measures later this week. let's get to hong kong and get more on the reaction i take it stock markets in hong kong have reacted well after the announcement overnight from the pboc. >> that's right. there was a lot of risk-on kind of sentiment playing out in the greater china markets after they heard from the pboc, the message was, we got you. of course, as you mentionsed, that mlf cut is, you know, really the latest we heard in terms of what the party line has been out of china, that we're

going to protect the chinese economy from the negative impact of the coronavirus pretty much green across the board. take a look at the shenzhen sta startup closing 4% higher at the end of the day the market is riding on whispers about further, you know, action of easing by the pboc. in fact, this thursday we're going to see what kind of decision they make in terms of the loan prime rate as well. i think that can be a further leg up before the greater china markets, at least until thursday we were talking about shanghai composite, for example, a higher by more than 2% or so for the day. all sectors are in the money led by all these cyclicals, including autos and technology, very much broad-based gains and this puts the index into

pre-coronavirus outbreak levels. pretty meaningful, i would say i do want to talk about the hang seng index because pretty much a standout laggard in the china region today all sectors were higher on the day. we did see moderate gains of 0.5%, but not to the level that we saw in terms of the mainland chinese. this comes as the national secretary of hong kong was, you know, warning of a record level of budget deficits for the next fiscal year. in fact, a lot of, you know, hong kong players, especially when it comes to retail tourism and airline spaces are struggling and cathay pacific is one good example they're coming out with a profit warning for the first part of this year, of course flagging the potential hit from the coronavirus. you know, they say they cut the february and march capacity by

40%. also saying there could be further reaction in the month of april. just to get the big headline that january inbound passenger was down 40% according to cathay pacific. of course, we're seeing some green across the board but really reacting to the easing stance from the pboc today. >> definitely a positive start to the week then in terms of risk sentiment, but obviously we have to see the economic impact, how it all plays out thank you for latest from hong kong. speaking of the economic impact, singapore has warned it may plunge into recession this year after reporting its biggest jump in new coronavirus cases this year. they cut the growth forecast this year by one percentage point, highlighting the risk from the fast-spreading illness. the japanese economy has contract contracted at its fastest pace

in six years fourth quarter gdp fell by 6.3% on an annualized basis, much more than the forecast and the first decline in five quarters that is as the outlook for the current quarter is clouded by the coronavirus. bank of japan governor said the outbreak is currently the biggest uncertainty for the japanese economy, so a huge decline there in japanese gdp for the fourth quarter, not even taking into consideration coronavirus. let's get out to head of bank lombardi i want to start with your thoughts on dollar/yen looking at that currency pair today, there hasn't been that much movement. we're still shy of 1.10. you would think on a number as weak as this that we would see a reacti reaction, sort of risk-off reaction in the yen but none has materialized what do you point to >> i think it's fair to say

dollar/yen hasn't done much since the beginning of the year. it's been fluctuating between 1.1 108, 110 i think the biggest catalyst for the dollar/yen is what's happening. we've seen a drop in yields from 1.9 down to 1.6% given the fact that over the past few weeks they pretty much stabilized around this level, the major catalyst for a big move into dollar/yen is really absent to a larger extent we have to say that the drop, although it was definitely much bigger than expected, but to a larger extent it was expected largely because of the v.a.t. tax hike nonetheless, it's -- i think if you look historically, it will take periods at which you're

getting more protracted than one-off quarter of a quarter contraction of the japanese economy to actually start triggering movement in the dollar/yen for me, biggest catalyst is what's happening in u.s. yields and yield differentials. nothing is happening the past two, three weeks and so we're getting this range trading from dollar/yen. >> it's having an impact on certain assets and not others. we see u.s. stock markets go from strength to strength, even european markets have been doing quite well, fx markets resilient, the dollar trade is very strong but not so much the case for commodities you just alluded to the fact that and rates have been rallying do you think that that very fine structure can change if coronavirus actually continues to linger for another couple months or so >> well, i think the extent of the time it will take until we

reach some sort of full containment will definitely have an impact on markets because it will have -- the more it remains and the more the bans and the city quarantines remain in place, the bigger hit to activity in china is going to be i think, look, you mentioned equities as far as monetary policy is concerned, as far as monetary policy is at pretty much near the zero lower, i think equities will perform well. i think we saw flight to safety with the dollar rallying since the 21st of january. but over the past ten days or so, we're started differentiation. that has built because of expectations that the pboc and chinese authorities are going to ramp up stimulus, monetary and fiscal and ifyou look at the best

performance right now in currencies, they are the commodity-linked commodities whereas the worst performer like the euro, japanese yen are basically the ones with either zero or negative rates i think it's pretty much we've moved from a flight of safety to the end of january to more like a carry trading environment. >> interesting you were saying about the carry environment there, and obviously that ties into the discussion we're having about dollar/yen, but to bring it back to coronavirus, and if we do get an episode of risk-off, do you still think the dollar/yen trade as a safe haven trade will work out in that scenario >> it will in a certain extent it's kind of a weird pair because you get both safe havens at the end of the day what matters is which dominates the other. i think historically what we've learned is that when we get similar episode, natural

disasters like this, what happens is japanese investors seem to repatriate investments i think this will happen if we move into a full-blown epidemic. >> we'll pick up the conversation next chapter and i want to pick your brain on the euros. something we've been watching closely. the head of fx strategy at bank lombardo. the west is winning, that's the message u.s. secretary of state mike pompeo had for delegates at munich security conference as he sought to reassure european allies over president trump's america first policy pompeo was responding to criticism from germany's president who warned that washington had rejected the concept of international cooperation. the u.s. secretary of state also said the so-called demise of nato was, quote, greatly exaggerat exaggerated. hadley spoke to u.s. defense

secretary mark esper. >> what i mean is what i outlined in my speech earlier today. as we look at our national defense strategy it says we're in this era of great power competition. that means we need to focus more on high-intensity warfare going forward and our long-term challenges are china, number one, and russia, number two. and what we see happening out there is china, continues to grow its military strength, it's economic power, commercial activity and doing so in many ways illicitly or it's using the international rules based order against us to continue this growth, to aconveyor technology and to do the things that really undermine our nations', i say that plural, sovereignty, that undermine the rule of law. >> when we talk about what happens next within the 5g sectors, a lot of governments say to us, listen, if there was a better, cheaper alternative to

huawei, we'd be using it, but unfortunately that doesn't seem to be the case what is the u.s. government planning to do to get u.s. companies there? >> we need to do our part not just with u.s. companies but with european companies, some asian companies and we need to make sure we provide an affordable, competitive alternative. we can't be duped into a company that's subsidized by the chinese government, that ties ties, close ties to the communist party and allow them into our networks and compromise them it will undermine our security, it will undermine our ability to exchange information and intelligence to do all those things we need to do to guarantee the security of our countries and security of our peoples. >> how much money are you willing as the pentagon to put behind that kind of technology >> we're putting hundreds of millions of dollars behind it right now by running test beds at several bases where we ib invite commercial vendors in, open up the community, if you will i can put aside unnecessary regulation that inhibits the testing and we can really help companies grow in a partnership

with dod it enables us, too we need to access data at the speed and volume of relevance to war fighting if we can help commercial vendors get there, it helps us and also helps the marketplace >> pompeo and u.s. secretary of defense mark esper accusing china of carrying out a strategy with huawei. >> translator: they have for months been repeating their kic criticism and smears of china. they say the same thing wherever they go about china. i don't want to waste our time responding to each and everything they've said. i can generally say these accusations against china are lies they are not based on facts. >> the tech war of woshdz is heating up again if you want to get involved in the conversation, anything we discussed on the show so far,

whether it's china's easing measures or the market performance, can you tweet us @streetsignscnbc. coming up on "street signs," we'll be right back in a few moments, we'll talk about the eu and the uk, which will apparently rip each other apart in trade talks, according to france's foreign minister. more when we come back [♪]

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welcome back to "street signs. lease get a check on how markets are this morning the hangover from asian markets was mixed. we spoke about the shanghai composite with our colleague chinese shares have jumped more than 2% after pboc made cuts and announced further tax cuts that boosted the chinese markets. not so much the case for the nikkei trading deep in negative territory after a very disappointing gdp. the stoxx 600 is starting on a positive foot, up 0.2 of a percentage point

let's talk about the individual breaking it down by markets. the ftse 100 up 0.2 of a percentage point early hours of trading. dax around 0.1 of a percentage point firmer on the session. worth bearing in mind, we have a lot of company earnings that have been drivers. from the macro perspective, later this week we have very important pmi numbers to watch out for in europe as well as the german indicator all of those things backloaded towards the end of the week certainly will be on investors' minds. let's switch and talk about sectors. i mentioned it was a positive sector for the chinese indices we are seeing some knock-on effects. basic resources up 1%. autos up 1%. to the dune side, real estate trading soft, down almost 0.6 of a percentage point and tech

coming under a bit of selling pressure, down about 0.1 of a percentage point as well we'll talk more about tech, especially as mark zuckerberg will be in brussels for meetings with the commission. something to keep an eye on there from a tech standpoint some company earnings for you. shares in bayer and bsf are trading lower following a u.s. federal trade decision which ruled company's products have damaged crops. the jury awarded a missouri peach farmer $265 million after he claimed the companies encouraged farmers to use the weed killer irresponsibly. bayer says it will appeal the decision, adding the prosecution presented no competent evidence that its monsanto herb db sides were responsible for the crop losses they face more than 140 lawsuits in connections with the weed killer. shares in airbus have hit a

two-month low after a dispute escalates between the u.s. and european union this after the u.s. imposed tariffs on aircraft imported from the eu. it will go up from 10 to 15% next month airbus says it will hurt u.s. airlines and its customers and switching to the auto sector, faurecia is trading at the top of the stoxx 600 after the french automaker reported a rise in full net year profit and sales. however, the group warns market conditions will be tough in 2020 and is predicting another gruelling year for the auto industry with car production likely shrinking 3% worldwide. faurecia ceo patrick koller spoke to us about the headwind. >> we demonstrated our resilience, achieved all of our financial targets, why we continue to invest and have

accelerated our transformation in the future and sustainable mobility you know, we lost 5.8% of the market in 2019 before 1.1 and this year, yes, i believe that we will be at minus 3% with china most probably at minus 5%, which means that we will lose about 1 million to 2 million cars again in china. switching to industrials alstom is trading higher after it's heard they are in talks with bombardier. the proposed deal would help alstom compete more effectively with its main global competitor, china's crrc corps

the deal was blocked last year by european regulators. to the uk, shares? yup ter aset for their best days after they struck a deal to buy merian investors jupiter says the acquisition will enable it to accelerate its growth strategy. so that stock is up almost 9% in trading. and the eu and the uk will, quote, rip each other apart in trade talks following britain's departure from the bloc, according to french foreign minister jean-why ves le drian he added london's aim was striking a trade deal by the end of the year will be difficult. let's get back out to the head of the fx strategy at bank

lombard. still early discussions but i'm watching the pound very closely here it seems to me that the mentality is still very much buy on depth here. the pound is trading still north of 130 what is your take on where the pound goes >> well, that's a million dollar question, isn't it, or the million pound question look, i think as far as the discussions are concerned, i think there's going to be a lot of noise it's going to be hard negotiations it's clear that boris johnson is working along two dimensions first of all, he doesn't want to realign with eu regulation represents a big, big handle for the european unit. at the same time he doesn't seem willing to request an extension which means the time is really, really short to come up with a trade deal that really covers essential parts of the economy i think, you know, last week

sterling beat some expectations that we may get some sort of a bigger fiscal stimulus by the uk government we'll see about that it's still early days. i think for now, for the near term, it does provide some sort of temporary floor for sterling between 130 and 129, or thereabouts. but i'd be very surprised with the near term we were actually able to break the 132, 133 highs on a closing basis we saw back in december. that's largely because the no deal brexit premium is still priced into sterling and into a number of uk assets. i think it will remain for most of the year. near the end of the year we may get a little compromise, a limited deal and sterling may get reprieve because the dollar may weaken as we expect towards the end of the year. for now, room for movement in

sterling is quite limited. >> over the past couple of weeks, the pound versus the dollar has been range-bound. but it tells a different story if you look at it versus the euro the euro the last couple of weeks has been weakness, whether it's versus sterling or whether it's versus the u.s. tlar. what is going on there because we thought that the data was beginning to stabilize towards the end of the year. why are investors turning on the euro now >> that's a very fair question indeed, ourselves have been surprised by the moves in the euro i think it's largely a euro story. what we've had is that over the past couple of weeks or so, we had some really bad data referring to q4 of last year, but they do indicated that the eurozone and the german economy enter 2020 with less momentum than initially anticipated on top of that, you add the concerns about the coronavirus, the impact on the chinese economy and then the impact of

eurozone and german. more specifically, exports into the asian and chinese country. at the same time, you've got some sort of a political risk being priced in because of the developments having in germany and i think the fourth one, which seems to be a bit more obvious and admittedly i think we underestimated, if you look at currencies what they've done over the past two to three weeks, thereabouts, you've seen high carry currencies performing well and negative yielding currencies underperforming i think so europe is bearing the brunt of this confluence of things. >> very good point there thank you very much. we'll leave it there the head of fx strategy from bank ombard. coming up on "street signs," regulators, that is the message there facebook boss mark

zuckerberg find out would he i thinks big tech needs bigger oversight. ♪

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welcome back to "street signs. the stoxx 600 hits a fresh record high and the shanghai composite posts the best day since june after the pboc cuts midterm lending rate to ease pressure from the coronavirus outbreak. bayer hits back after losing a key crop damage lawsuit alongside bsaf criticizing the evidence saying it will swiftly appeal the shares trade lower as 140 cases are still pending. full steam are ahead for alstom shares after they confirm it's in talks to buy bombardier transportation. airbus shares hit a two-month low as the aerospace giant says they deeply regret the decision to hike tariffs on european made aircraft

quick check on european markets this morning it's a positive day so far you can see most are trading in the green. we have the ipex in spain the exception. up at the top we have the italian index up 0.3 percentage point, ftse 100 in the uk and cac hanging around stoxx 600 making fresh closes. this as we've had expect earnings come out fast and furious in the last couple of weeks. that is the picture today. of course, the handover from fry chinese markets was quite positive, which is helping set the tone for europe as well. let's switch to foreign exchange we were talking to our fx guest about some respective movements in currency. euro trading slightly on the

back foot. we hovering around 108.50, slightly firmer today versus the u.s. dollar. about a tenth of a percent anl point but broadly speaking the euro has been on the decline the pound trade softly softer today but still above the 1.30 market 1.3040 is where we are and dollar/yen given the very weak gdp out of japan for the fourth quarter, coming in much lower than expectations, annualizing a decline north of 6% and yet not a lot of move in dollar/yen you can see shy of 1.10. some very big news out of the middle east. dubai world is set to return to state ownership after its parent company announced it has offered to acquire the 19% of its shares listed on nasdaq dubai dp world group cfo said the delisting would help the company focus on its medium and

long-term strategies dan murray has more from dubai has been following this story. a bit of a surprise. break it down for us what is the rationale? >> absolutely. dp world moving to become a private company, delisting from nasdaq dubai of course, this is a business that has been public since november of 2007 when it went public, it was one of the biggest ipos in the middle east. quite a significant fall from grace, es least from equity market perspective because the stock has been down 15% and this plays to a bigger problem here in the uae and in this capital market a lack of liquidity means dp world is one of the only stocks that moves on any given trading day here on the nasdaq dubai

exchange there's only a handful of stocks actually listed here so this is quite a significant challenge. the company said, look, the disadvantage of maintaining a public listing outweighs it now. they say the strategy is not appreciated by the equity markets and not reflected in the share price performance. we'll see the entity that's controlled by the dubai government moving to pick up that remaining 20% stake in dp world that's currently listed here on nasdaq dubai they'll pay 16.75 a share. that represents about a 30% premium to dp world's closing price on sunday, which was around $13 if you look at the pop we've seen in the stock off the back of this news, dp world moving up around 10% on nasdaq dubai today. its days as a publicly listed company limited. >> it's not the first time dubai world was in the news. back in 2009 when the company came under a lot of pressure for

its financials that led to a bailout by the uae dan, i want to ask you what's happened today, the announcement today could be a reflection of more broad macro developments in the uae and specifically in dubai. you mentioned stock price is down 15% since 2018. could that also be a reflection of the lack of transactional activities going on, some of the headwind facing the property sector and the shipping sectors in dubai right now >> absolutely. two really good points with regards to the overall state of the sector and the industry today, the company has also said part of the delisting is because of the fundamentals in the sector. they do see headwind but they have worked to reassure investors about the health of the company saying all the financials are in order. to a broader point, you're right, domestic capital market liquidity is a major issue in

the uae, a significant issue around the region including other major markets like in saudi arabia, for example, particularly if you're an investor looking to make an exit the reality is, limited transactional activity in this market in particular, nasdaq dubai has been a major headwind when it comes to attracting new listings and new investment into the country. at the same time, the uae being a relatively small country, also suffering from resource duplication in a number of areas. that means we don't just have nasdaq dubai here, we also have the dubai financial market it means there is a number of large equity markets competing for a very small pool of companies and a very, very small pool of domestic investors as well that's resulting in a lack of liquidity and as a result nothing moves on the exchange unless you have outside news announcements like what we've seen today from dp world it's a bigger issue policy

makers are trying to address. >> really interesting points there. dan, thank you for breaking it down for us. big news out of dubai. facebook ceo mark zuckerberg has called for new rules on big tech to ensure they, quote, serve society. the social media is set to release a white paper later today which will lay out questions that regulation might address. zuckerberg is also in brussels where he will meet with the eu's internal market commissioner and competition commissioner later today. sylvia joins me now. facebook have done a bit of an about-face almost two years ago when zuckerberg was dragged to buflz and he had to face that testimony but not much came out of it at the time and now he's going there willingly and saying, look, i'm willing to have a discussion about regulation why do you think there's been this turnabout from facebook >> since the eu actually announced the gdp rules in 2018, when you look at share

performance of facebook it's up by more than 20% so, that tells us the story a little bit he will be meeting with three of eu's top officials today in brussels he's been making several remarks about the need for further clarity from regulators as well as further regulation. he repeated those calls over the weekend after the munich security conference. let's take a look at mark zuckerberg over the weekend. >> we see different regulatory models coming out of places like china spreading to other places as well. this is one of the reasons i think regulation is so important. regulatory models are spreading that encode more authoritarian values in more places around the world. i'm very worried about that. i think we need to make sure that the internet can continue to be a place where everyone can share their views openly and where the legal framework around this is one that encodes democratic values and open values and i do think that as part of

that we have to move forward on regulation hopefully we move forward quickly. you said a more authoritarian model gets adopted in a lot of places first. >> mark zuckerberg there he'll be meeting the head of the competition policy in the eu when it comes to the european context, we are expecting the you're european commission to unveil on wednesday new regulation on ai we know facebook and other big-tech companies have big investments in this area so that, perhaps, is one of the points that they will address with mark zuckerberg today tomorrow we'll bring you an exclusive interview with vestager. >> you're doing that yourself after brussels this afternoon. >> in a few hours. >> looking forward to that. let's bring in seth wallace, principal analyst. do you see meaningful breakthrough between the eu, the tech titans, tech regulators and

facebook >> i think one of the fundamental changes that has happened, just last year the 4 or $5 billion -- sorry, by the ftc. i think that really focused facebook somewhat and mark zuckerberg has changed his tune since then because he's been talking about defining what the regulations are so that there's a lot more clarity there he's also been looking at four different areas. he's been talking about things like election integrity and several other aspects which he's trying to avoid, i think, looking at the competition and taxation aspects which is probably the more expensive and sort of game-changing regulations that he wants to avoid coming up. >> it's easy for them to play ball on the regulation side of things as long as they're part of the conversation. you mentioned the ftc fine there are two things going on. the settlement they paid last

qule year, $5 billion many people were saying, this is just a slap on the wrist for facebook their revenues are more north much $80 billion a year. $5 million is a jump in the ocean for them but you seem to think for them that was a turning point in the way they're thinking of dealing with regulators going forward. >> this may be a rltzization that the regulators have some teeth and they can apply them. that was just in the u.s., also facing investigations in the eu and by national states as well across the world for the same case that's all coming back to the scandal and the data protection and privacy issues arising from that so, there are a lot of definition issues that came out of that. what we're seeing at the moment is we're seeing the focus change somewhat you saw the ftc last week they

requested all data on -- >> acquisitions, correct. >> so, that's -- if you look at the numbers for those tech firms, something like 108 tech acquisitions a lot of them were below the $19 million level that have to be notified to the ftc. that's kind of bringing into play a much larger ecosystem of mergers and acquisitions going on and sort of trying to find an anti-competitive pattern of behavior, i suppose. >> because there are to regularities going after facebook the data privacy, the settlement and now going after them for the anti-competitive front as well this isn't just facebook the latest investigation involves the big four essentially. >> yeah, five big tech firms. >> and covers their smaller

acquisitions with the view to proving that these types of acquisitions actually made the market less competitive. is there grounds for that case and what would be the ramifications if they were to be proven, actually, engaging in this anti-competitive behavior >> sure. i think it's very difficult to pinpoint whether each individual acquisition when you look at each acquisition, they are acquisitions to hire talent, to gain smaller assets to build the product. on their own, it's not anti-competitive if you're looking at pattern behavior, maybe it builds up into something bigger. how you would regulate against that, that will be tricky. if you look at the bigger acquisitions that came under the radar, playbook's instagram. those could have been seen as

potentially also taking competition out of the market by integrating it into facebook's own family so, if you're looking at the much smaller acquisitions, they are going to be much less impactful than those two acquisitions were for sure >> do you think just to pick up on that, are they also going to be looking into the acquisition with the bigger names, instagram and whatsapp for facebook? >> i don't think that's part of it those were looked at the time. it's difficult for them to go back and break up those acquisitions, although that's being discussed at the moment president facebook wants to play nice on all the other aspects so protecting election integrity, data protection privacy and user protection aspects so that they can draw the attention away from the other concerns for competition. >> as long as the company holds

it together. >> thank you very much for joining us principal analyst. stay with us on the show a little bit of spice action, posh on "squawk. victoria beckham opens up on the coronavirus, the future of the fashion industry and her new line don't miss our exclusive interview after the break.

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well, it's that time of the year again london fashion week saw subdued attendance as the industry looks to combat a number of challenges, including climate change concerns and fears over the coronavirus outbreak we're joined with more around the desk you attended fashion london week feels like attendance wasn't as strong as usual? >> it was down a little bit perform the impact, of course, was showing. i was there yesterday. of course, you have a lot of the chinese buyers who weren't able to attend. you also had the challenge of extinction rebellion protesting

as well. and also coming out of brexit because london, the british fashion council were talking about the uncertainty last year. we have the certainty of what's going to happen but they still have a lot of questions that need answering aside from that, a lot of people did come and it was a wonderful place to debut designers as well i went to meet up with some new designers. it was their first time to show at london fashion week and i asked them how important it was for them to be showing and also in a public space normally it's exclusive invitation but the british fashion council are wanting to make it more accessible. this is what the girls had to say. >> it's really important we're super excited. >> i'm so grateful there's such amazing plaid forms in london. the cfe, we met with them and the about. fe london is such a great place for

up and coming designers. that's why we came here to start it the platform, and amazing support. >> what about sustainability, that's a big theme, and extension rebellion protesting how do you match that? >> the same theng we really want to -- it's super important we should all do something as a company we're trying to move from silk to viscose and changing our packaging we believe in pieces that will sustain for a long time. >> rebellion extinction is great and i think them being here is also about the same subject. in a way it was a shame to see them outside because in a way it should have been more collaborative. that would be nice to join forces because we all have to join forces now to save our planet together. >> interesting answer from them, isn't it, on sustainability. they were saying, look, have them protest but let's work on

it together. >> yeah, yeah. >> and also the move towards people buying timeless people, away from top fashion. i was reading somewhere that fast fashion accounts for 10% of the world's carbon emissions clearly something the fashion industry has to focus on. >> absolutely. they're all talking about it, the designers, the british fashion council, the manufacturers, everyone in the industry realizes that's the way forward. consumers are only going to want to end up buying sustainable fashion. now, of course, there were other big names showing at london fashion week i managed to get a tv exclusive with victoria beckham. >> wonderful. >> she's been showing in london since 2018 and she's had a huge impact through essential media she has over 28 million followers. i asked her how important that was to her brand >> i really enjoy social media again, i think we all have a responsibility i love to use it to, yes, have

fun, but i can also use it to reallyengage with my community which is really, really important. es and he shally with beauty i want to know, what does my community want from me what products does my community, what's important to them so the fact that i can communicate is really, really important. and i think it's fun as well, you know i enjoy it >> you've made it fun. you were doing your filters, weren't you? you had the ceo, the boss. tell me about that did you come up with the idea for that >> actually, they said it's someone in your team this is what everybody's doing and it would be fun. i take my job very seriously but i do like to have fun. i think you see that on essential media. you even see that in the collections with what i do with the fun color or fun conversational prints, whatever it might i think it's important the kids loved it. >> they were testing it as well. >> they were. >> they're on social media, too.

do you get protective of them and your family? >> i think we're a really close family and i think that, you know, the children sometimes get judged for things they might like or they might post. they don't know. you know, they're children but people are watching everything they do so, i think that that can be a little scary it's something relatively new for so many of us. we're all still learning. >> finally, going forward, you've got a vision for more beauty coming as well and david's got intermiami coming. it's a busy household. what is the feeling like >> we're so excited for miami. it's a dream come true not just for david but our whole family it's so exciting it's a new chapter for us. we will all be at the games. i can't wait i'm so proud of david and everything that he has built i mean, he has built this from

scratch. and he's so, so exciting so exciting. the first game is literally in a few weeks. we will all be there with our miami caps on. >> victoria, thank you so much for your time. >> thank you. >> thank you so much. >> lots of exciting projects. >> yes they're very supportive of each other. she works incredibly hard. she's very smart on social media. she launched the beauty brand and reaches out to all her consumers directly through social media, which is a - >> this is the way the industry is headed. thank you for joining me on "street signs. with that, we end our first show of the week. i'm joumanna bercetche and i'll be with you at the same time tomorrow "worldwide exchange" is coming up next.

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