that's all for this edition of "dateline." i'm andrea canning. thank you for watching. ♪ welcome to "street signs" live from davos and from london. i'm dan murphy. let's get to your headlines this hour. first, donald trump takes up office in the white house with a wave of executive orders, but stops short of launching tariffs against his key trade rivals. >> we will not allow ourselves to be taken advantage of any longer. during every single day of the

trump administration, i will simply put america first. beijing calls for the u.s. to listen carefully to the voice of reason after the president signed a 75-day stay for tiktok, but warned that ownership deal with china will be crucial. >> i could see making a deal where the u.s. gets 50% of tiktok. policing it. to the highest level since may to november. lloyds banking group tells cnbc there are positive signs in the country's economy. >> what we see is a resilient outlook at this stage. our outlook is three rate cuts. the important thing is underlining the change we have seen, households, businesses remain really quite resilient. and i'm silvia amaro in london. mining and oil sectors weigh in

early european trade, but futures point to a positive start to the u.s. trade under trump. ♪ welcome to the program live from davos, switzerland. first, donald trump has wasted no time signing a series of executive orders after being sworn in as 47th president of the united states. on the list is the withdrawal from the world health organization and climate an accord. repealed ev targets and gave a 75-day extension on the tiktok ban. he stopped short of introducing tariffs as previously promised. in his inaugural address, trump pledged his order was amount to a quote complete restoration of america.

>> my recent election is a mandate to completely and totally reverse a horrible betrayalan many of the betrayals that have taken place and give people back their wealth and faith and democracy and, indeed, their freedom. from this moment on, america's decline is over. >> president donald trump speaking there and for insight and reaction for what this means for the global outlook in 2025, the ceo of nbin, the investment arm of the norwegian central bank. good morning. >> thank you. >> we have seen donald trump returning to the white house. really shaping the onservation in davos.

what does this mean? >> this is an exciting time. so far, it is difficult to say what the implications are going to be, but for sure, for financially and american companies, this is going to be very positive. >> it seems like there's a lot of animal spirits out there. when you look at the overall implications, as far as we know, is there anything that gives you pause or concern given the policies the president has outlined and the policies he put in place with the slew of executive orders in the last two hours? >> a lot of the policies that we would not necessarily agree with, but look at it from the financial point of view as a financial investor, it is generally very exciting. we have more than half the assets invested in america. when we talk to american ceos and there are a lot of them, there is really this animal spirit coming back. >> walk me through the strategy from here? what is your focus and other sectors and reasons you are

bullish on? i know the allocation is bias toward the u.s. is that where you will continue to invest in 2025? >> we are quite an index near investor. the investments we have mirror the weighting of the companies. so, of course, the u.s. tech companies are very large and we have big, big the holdings in those companies. >> so, what does it mean for your allocation in europe for example? >> in europe, you have great companies in many industries. the best luxury goods, industrial gasses, we have great pharma companies and industrial companies in sweden and germany and so on. we continue to be invested in europe. we have 3% of all european companies and many are doing well. >> outside of europe? >> outside of europe, we are invested broadly across the whole world. >> what returns can we expect to see in 2025?

a replication of 2024 or can we beat it? >> i think that's very tough to say because you do have some things we need to think about a bit differently. many of the suggestions now coming out of the u.s. are potentially inflationary. they could cause more inflation. they could be less labor supply. they could be more tariffs. all of these things are driving inflation and, so, it's not a given that inflation will come down. >> is it your view, then, that we could see higher for longer rates at least in the united states as a result? >> that's one risk and, we are seeing budget deficits continuing. we are seeing high level of government debt. there could be a stage where suddenly investors want to get paid more to lend money to various countries. >> so debt is an issue. that is something you are actively thinking about. >> long term, it is for sure an issue. >> what do you need to see from policymakers in the united states? what do you need to see from

this president to remove that from your top risk list at this point? >> we are a pure financial investor. we don't do politics. we invest in the companies themselves, we don't invest in the countries, per se. i don't think i should have any view on the politics really. >> this impacts everything else. the debt level influences the yield. the yield influences the valuation. this is surely an issue you are worried about. what can be done in the u.s.? >> i don't give advice to the u.s. if you look at the risk of the markets, inflation is for sure one driven by tariffs and geopolitical tensions are negative for markets and financial returns. the more people can contribute, the better it is for us. >> one of the concerns we saw in 2024 was the acceleration of large cap tech. i want your take on that as well. are you concerned about the

concentration with u.s. equities? it is your largest market as you said before. what is the outlook given how concentrated that sector is and where valuations stand? >> concentration terrific has never been bigger. we see in society generally that the winner takes it all. you see it in pop music. more people listen to taylor swift than all jazz and classic. the guy in sports. he scores and makes a lot of money. the winner takes it all. you see it in tech more than other companies because of the platform structure. you are on facebook because everybody else is on facebook. in a.i., you see it more because it is so expensive to develop the models. there is a high concentration level. that is the biggest risk in the market now. >> is it reasonable to expect these type of valuations to continue particularly in the a.i. space in the year ahead?

this is the hottest sector. >> it is a hot sector. for a reason. we did a survey and we how much more did generative a.i. made you last year? you know what answer was? they thought they were 15% more first across the firm. that's a tremendous number, right? so, when you get, you know, more of the gigantic a.i., let's see what the valuations are. >> i was speaking with another guest about the outlook for the investment spend in a.i. a lot of sovereign wealth capital going into that sector. he said they will continue to invest in the space. he also warned and this is interesting, he also warned he doesn't necessarily know what the end of that investment is going to look like. no one knows where this technology is going. does that concern you? >> absolutely. >> can you expand on that?

>> well, we -- you know, the leading players in the industry don't know what the landscape is going to look in one or two-year two-two-year time. the technology needs to deliver for the valuations to be justified. that's for sure. >> there's no telling what that trade does going moving forward or where that technology goes? >> that's right. >> you are happy to continue to put money behind it? >> we are an index fund. when the companies do well, holdings in the companies typically expand. >> let's also talk about something else that i know has been spoken about around the fund. a lot of talk last year about the pension fund in norway entering private equity. i want your take on this. invested in equities, bonds, infrastructure, but not pe. >> that's right. >> can you offer a view on why? >> we have a mandate from the ministry of finance and private equity is not in that mandate.

there has been a process where they have investigated where they should be allowed to do that for the time being. they put it on pause. there's something that's now part of the political process and they will decide what to do going forward. it is interesting to see that the number of listed companies is going down and the number of unlisted companies owned by pe is going up, right? the world is changing pretty fast, but we'll see what is coming out of the political discussion going forward. >> would you like to invest in pe? >> the advice given from our board to the ministry is we should be allowed to do that. >> we will atch that space. there could be potential opportunities for you. before i let you go, walk me through any other risks or opportunities. we have gone around the world and spoken about the allocation in the u.s. and what is happening in europe and ex- ex-europe as well. what else is giving you pause for thought as we push through

2025? >> yeah, we are -- we are p spending a lot of time trying to understand regulation. there seems to be less regulation going forward. i see regulation like you come into a bar. each bottle tastes pretty well, but when you pour all the bottles into one bucket, it is not good anymore. that is the thing with regulation. all nice and well meant and so on, but when you put it all together, it is hindering growth. what can we do with the regulations? the same with reporting. we are advocating, you know, a kind of -- we think that climate report is ex-tremely important. we are advocating for a simple reporting structure and advocating for companies now to increase probably half yearly rather than quarterly. we think it leads to long-term

thinking. >> would you say too much regulation in europe right now is hindering growth? >> i think it is something we need to watch and that's for sure a danger. that is something draghi is pointing out in his report. it's high on the agenda. >> so good to have you here with us live around the desk in davos. thanks again. >> thank you. >> the ceo of nbim. as i mentioned, the ceo of wealth fund has inked a number of high profile a.i. deals as part of the growing u.s. portfolio. cal told me he is optimistic about the incoming framework. >> i'm positive because a lot of what we're seeing in terms of everything i've said until this minute in terms of the spaces we're focusing on seem to be areas that this new u.s.

government is spending a lot of time on and encouraging and supporting. i think from that sense, i see opportunity and particularly the market that is significantly one of the biggest markets we are exposed to, the u.s. market. i see a period over the next four years in the spaces i described, i think there is going to be positive tailwinds. we all hope for better stability globally. geopolitical stability is good for growth and peace and stability and that is good for business and good for investing. i think there's enough signs that give me optimism to what's coming. >> you can catch more of the interview at 6:30 gmt and the full conversation on our web site. head over to cnbc.com. coming up on "street signs," i'll be joined by the ceos.

that's all ahead direct from dafz. davos. stay with us. check out our social pages and full shows streaming on youtube as well. time to get a check on how european markets are faring so far this morning. equities have been trading for over an hour and 15 minutes. thus far, we have a mixed picture with investors trying to figure out what the latest comments from donald trump could mean for european businesses as well. so, for instance, the ftse 100 is marginally above the flat line. this after we obtain wage data that actually showed an increase in the three months to november. that's another important data point. as we await to hear from the

bank of england in two weeks time or so. let me take you to the different sectors to get a better idea of what is happening across the corporate world. we have the best performing sector at this stage is household goods. we are up .60%. financial services also doing relatively well this morning up about .50%. i want to take you to the worst performing sectors because it is there where we are looking perhaps at the most important market stories this morning. basic resources is down .80%. significant pressure here on mining names. i also want to take you to the auto sector. we are down about .40%. this is also in relation to the comments from donald trump with perhaps preparing some tariffs on mexico and canada and we know that could also have ramifications for european auto names as well. speaking about what's going on stateside, let me show you how u.s. futures are shaping up at this stage. they suggest a marginally

positive start to the trading day on wall street. this after u.s. markets were closed yesterday for martin luther king day and, of course, let's not forget the earnings season is still under way. on top of the political news, no doubt that investors will also be monitoring what netflix, among other companies, will be saying later today. indeed, silvia, appreciate it. thanks for the update. coming up, we will speak to the standard charter chairman jose vinals. that exclusive interview is up next. reaching your goals requires a well-rounded approach. but i do that. i read classics and contemporary. and when it comes to learning spanish. you memorized random phrases. try babbel with bite sized interactive lessons so you nail the basics. addictive games to build long term memory. award winning podcasts

and an ai conversation partner for on demand, no stress speaking practice. start speaking today at babbel.com. pete g. writes, "my tween wants a new phone. how do i not break the bank?" we got you, pete. xfinity mobile was designed to save you money and gives you access to wifi speeds up to a gig. so you get high speeds for low prices. better than getting low speeds for high prices. right, bruce? -jealous? yeah, look at that. -honestly. someone get a helmet on this guy. xfinity internet customers, get a free unlimited line for a year when you buy one unlimited line. - it's something about having that piece of paper. some people think that's worth more than my skills.

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the ons also revealing that average weekly earnings were 5.6% higher on an annual basis over the same period. speaking to cnbc in davos, the lloyds bank chairman said there are positive signs on the health of the uk economy. >> the uk has been going through volatility in the last through months. actually, we see a resilient growth stage. our outlook is three rate cuts. the important thing is underlining that change we have seen households, businesses remain really quiteits remain u. >> the santander group telling the bc panel there are opportunities to rewrote the playbook. >> i think europe has a diagnosis and a huge opportunity to lead.

we are still 5% of the population and 20% of the economy. we haven't done so badly. the trick is and i agree we are at the crossroads where we can either take the right side, but don't think about politics. europe has a rate of options in the economy where we can drive and do great. >> we don't just -- americans innovate. we innovate and the americans take it over. >> we are starting to understand that. the president of the commission announced an omnibus simplification. i applaud that. there is much more we can do. i said at the conference in november let's take a pause on the revision. this is not different from what the american government needs to do. we need to do more and faster. >> i'm pleased to say my next guest is jose vinals of standard charter. great to see you. >> thank you. >> let's unpack globally.

i feel markets are fixated on the united states. what do you think the return of donald trump means for financial regulation as well? >> thank you, thank you very much. i think the return of president trump to the white house implies more uncertainty in terms of policy. it implies also more volatility for markets. this is something that we're going to see in the coming weeks and months. so, we eed to be ready for that. also, i think that the market is trying to understand what may be the actual reach of the tariffs that the united states imposes on other -- other countries. yesterday, i think there was a mention about canada and mexico, but there are other very important countries that may be subject to tariffs or not depending on how things go. i think that policy uncertainty

is going to be there and that is an important driver for markets in the short-term. beyond that, i think that some of the policies that mr. trump is going to discuss in terms of the financial section or is goor growth and the u.s. economy. >> you are chairman of one of the largest financial institutions. how do you prepare the firm for the changing of the gored and -- guard and the scenario we will see in 2025? >> standard charter has been around for over 170 years and we have a very, very strong and diverse tied - -- diversified p across the diverge economies. we are between east and west and south and south. i think the business model is well established. regardless of the changes in the political environment in the united states, our strategy

remains the same which is close to our clients both in the corporate and financial institutions side and also in the wealth and affluent side to help our clients navigate the best they can with the uncertainties and bring to them opportunities. we have a fantastic footprint which covers most of the important and dynamic economies in the world where opportunities are plenty. so, we will continue doing what we did already during trump 1.0 which is to, you know, realize opportunities and continue thriving and moving upwards. >> let's talk about the environment you are operating in as well. a couple of concerns p out ther right now whether 2025 is going to bring a sustainable growth pat path or the risks on the down side? >> i think balance of risks is

to the down side. basically because of the geopolitics and impact geopolitics may have on the economics and particularly trade. let's see that what's happened and for the past couple of years, we have had steady growth slightly above 3%. this is the base case we have going forward in 2025, the current year, but also into 2026. so, as long as things happen on the policy front are not terribly disruptive, i think one would expect the continuation of the growth path. there may be some positives in the sense that some sort of, you know, a thoughtful regulation is something which is going to be good for the united states economy. i think that's some thoughtful regulation might also be good for example other parts of the world and thinking of the european union and i'm thinking

of all of the other markets. i think if all of the markets in the european union and uk put in place pro-growth policies or implement them better, this is something that is positive for growth. those policies are difficult to implement, but they're not impossible. >> one of the concerns in the last few years is profitability. helped by higher interest rates in 2023 and 2024, but when you assess the outlook for inflation now, do you think global inflation and rates are going to ease in coming quarters? if so, what would that mean for standard charter? >> that is something very much will depend on whether there are tariffs in the united states coming from the united states and how strong are the tariffs, what is the i mpact of that plu fiscal action on the inflation outlook in the united states and how the u.s. fed reacts with that. i think the base case is still

for a continuation of the disinflation process that we have seen over the past year and a half or two years to the extend that can go on will depend very much on these policies. regardless of that, in terms of profitability of the bank, we have improved over the past few years and we will continue to improve regardless of that because we have a very strong strategy which is focused on helping our international clients through cross border banking and serving the needs of our affluent clients and in terms of wealth management and those businesses and my expectation is they will continue to move forward in the current year and that would be good for us >> we've spoken about what's happened in the united states and what's happening in europe. let's pivot over to asia where the firm derives most of the property.

when you look at the u.s. and china, how concerned are you? as an extension to that, do you think policymakers in beijing are doing enough to firm up the chinese economy to stoke domestic demand in order to alleviate the economic pressures we have seen in that country for many, many years now? >> first of all, when you speak about asia growth, one takes into account that is still leading global growth. you look at the imf report a couple of days ago, global growth is expected to be 3%. emerging in asia is having growth rates of 5%. this is going to be leading global growth. china is the story and you also have dia and the asean economies. regarding chinese growth, i think that the fact that china was able to have 5% growth last

year speaks volumes about the capacity of such a large economy to continue growth rates not as high as in the past, but still cent growth rates. this was reported by policy. policy will continue to be supported this year if the chinese authorities want to maintain growth rates between 4% and 5% and 4.5% and 5%. the china's authority still has to come up with what the official target for this year. i think what is most important was the explicit acknowledgment by the chinese authorities that they will continue to support chinese growth through proper monetary and fiscal policies. with that, clearly, there is a need to revive consumer confidence. i think more needs to be done as needed in order to make sure the property sector finally stabilizes and starts

recovering. we know from other historical experiences, this is something that takes longer than other things. this is china to focus on that and also the china-u.s. relationship is critical for the world. i think it is very important that president trump and president xi jinping are talking. it was also interesting yesterday in the inauguration speech that mr. trump only referred to china in connection to tiktok, but there was no china bashing. i would hope for the u.s. and china to have as good as a relationship as they can because as i said, this is something that would be important for the entire world. >> mr. chairman, we're out of time. thank you for joining me today. welcome to davos. it's great to see you. >> thank you. >> that is the standard charter chairman jose vinals with me at the desk. you can check out the latest on

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welcome to "street signs" live from davos and london. i'm dan murphy. let's recap your top stories today. >> we will not allow ourselves to be taken advantage of any longer. during every single day of the trump administration, i will very simply put america first. >> donald trump returns to the oval office with the wave of executive orders and the president is generating

positivity among u.s. business leaders. >> we have more than half the assets invested in america. when we talk to american ceos and we talk to a lot of them, they really see the animal spirit come back . beijing calls for america to listen after the tiktok deal. >> i can see where the u.s. gets 50% of tiktok. policing it a little bit or a lot. depends on them. uk unemployment rises to the highest level since may. charlie nune telling cnbc there are positive signs in the economy. >> we see a resilient economy. our outlook is three rate cuts. i think the important thing is underlining all of that change

we've seen. households, businesses remain really quite resilient. and global business leaders grapple with the impact of trump's return. the santander chairman says europe can mount a response. >> we are at risk. we have a huge amount of startups. the issue is they start here and they go to the united states. good to have you with us in davos. donald trump has wasted no sign signing executive orders within hours of sworn in as the 47th president of the united states. on the list is a full withdrawal from the world health organization and the paris climate accord declaring a national emergency at the border with mexico. repeal of the biden targets and the 75-day expansion on the tiktok ban.

he stopped short of tariffs on imports to the u.s. as previously promised. addressing the crowds, trump promised to put america first. >> the golden age of america begins right now. [ applause ] >> from this day forward, our country will flourish and be respected again all over the world. we will be the envy of every nation and we will not allow ourselves to be taken advantage of any longer. during every single day of the trump administration, i will very simply put america first. [ applause ] our sovereignty will be reclaimed, our safety will be

restored. the scales of justice will be re-balanced. >> meanwhile, the nec ceo takeshi niinami says this creates challenges to japan. >> what we are doing in the past. we experience huge up and down and we survived and through the tough difficult situations and now compared to the past things and the exchange rates changes hod rate and we can easy adjust ourselves to this change. of course, our biggest concern is it was happening very big changes. we cannot adjust. as long as this change is moderate, we can adjust to the change. that is one of the tasks of the corporations. >> let's bring more reaction, insight and analysis.

takeshi niinami is the ceo of suntory here at the desk. great to see you. >> good to see you. >> the focus as you well know is the return of donald trump to the white house. i want your take on how suntory is preparing for what could be an increase for u.s. tariffs as part of his economic agenda. what are you thinking about right now as an executive of the large japanese corporation with the shifts we could see? >> first, we have been preparing for tariffs increase. example, the u.s. and europe and piling lots of jim beam, makers mark. that's one thing. more things are happening in terms of tariff increase and the tit-for-tat. so, we are now agile to any kind

of change by this scenario planning. scenario one is abcd. that costs a lot. the plan is to be more focused on the strength instead of, you know, putting resources to weaknesses. such with tequila and drinks and nutrition. we are more cused on the strength. we can look to resilience to be agile to any kind of changes. >> you have to be agile, but part of your strategy and you mentioned this is stockpiling right now. so, is that really a long-term plan? as you mentioned, this u.s. whiskey is t with 50% tariffs this year. what do you do beyond holding

more supply? >> for example, we have scotch and other products between europe and the u.s. we have the american whiskey. we have the rtd in the united states and rtd production in europe. we tend to be more local instead of, you know, global trade. >> can i asks you as well as hd of the japanese corporations, looking at the cooperation with the u.s. and japan, what does it mean for nippon steel and u.s. steel? >> first of all, it doesn't effect the appetite of the united states overall. it is kind of a regret that president biden didn't approve the conditions of the nippon steel-u.s. steel. it is good for the u.s. steel

industry. >> what happened here? you believe this was political? >> definitely so. there is still a chance the new president, president trump might say yes because it's good for u.s. competitiveness. so, nippon steel should not abandon the aspirations to be in the united states with u.s. steel. >> are you making efforts to lobby donald lobby president trump to push or secure a deal? >> we are like countries. between japan and the u.s., we have to work together in terms of the economic security. i think this deal should be allowed for the sake of the furthering the relation of the economic security between u.s. and japan. >> you mentioned it wouldn't impact japanese investment into the u.s. moving forward though. what about the other way around? >> well, i think for example, we

at suntory want to invest more and only the japan investment is toward the u.s. and to ease the tensions with the u.s. and japan. we had the fifth largest surplus of trade. we need to increase more to the united states and create more jobs. by the way, the largest investor to the united states from abroad for the u.s. we have to appeal. we will continue that status. that we have to do to work with the trade with the united states bilateral relationship. >> when you assess the economic outlook as well focusing on how suntory is focusing on now, what about the growth for 2025 given the state of the japanese economy and the yen right now? >> the number has been growing in japan. we will refocus on japan to be

more profitable and, two, geographical expansion to india and global south. of course, we like to keep investment to the united states. three geographical pillars is so important for us and perhaps we will keep investment, current investment to china. i strongly believe china is coming back, but that takes a lot of time. we want to have long-term vision to china. >> what would you like to see from the bank of japan through the course of 2025? >> i think definitely they have to raise interest rates to 1% because the policies behind the curve, i'm sure. real inflation is really hurting their life. the current interest rates is too long. that, you know, brings the impact of the japanese yen. the current japan's currency is

too weak. considering the power and impetus of the japan economy. >> indeed. given the strength of the u.s. dollar right now, how concerned are you with the yen sitting today? >> i think that is affecting our daily life. that is the serious concern of the consumers. so, to expand the consumption in japan, definitely the current pressure from the currency of japan and japanese yen should be altered asap. i expect the bank of japan will pick up the rates at least 0.25%. >> very interesting to watch. takeshi son, thank you for joining me in davos. that is takeshi niinami of suntory group. up next, we will speak to

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welcome back. u.s. president donald trump declared a national energy emergency to boost oil and gas production seeking to speed upper mights and rollback environmental regulations and withdrawing the u.s. from the paris climate deal. speaking after the inauguration, he intends to drill, baby, drill. >> i will ask the cabinet to defeat what was record inflation and rapidly bring down costs and prices. [ applause ]

>> the inflation crisis was caused by massive overspending and escalating energy prices. that is why, today, i will also declare a national energy emergency. we will drill, baby, drill. >> my next guest this hour is tobias meyer of dhl. great to see you. >> great to see you. >> here we're in switzerland and one topic of conversation is, you guessed it, the return of donald trump to the white house. i want your take as where we stand as we come into 2025 on the state of global trade and logistics. how are you reading outlook? >> first of all, i think it is important to remind ourselves global trade is a positive thing. it is positive in terms of boosting wealth and remain essential for nations to participate in technology. think about medical devices, but

also other areas. it also has been good for the u.s. you see many u.s. companies here engaging globally with their partners and that obviously has good reasons. if we look more at the macroeconomics outlook, it remains fairly complicated. we see economies like china clearly still domestically quite some struggles, but it leads to a push for exports. chinese companies try to broaden their footprint and reacting to geopolitical exchange as to western companies. we clearly see a trend that folks think about the manufacturing footprint and that's changing. that leads to certain trade lengths lowering. we see good growth from china last year. volumes in cean freight strong. i think it is important for us from the western perspective to recognize the relationships between china and the rest of the world, not being western

europe and the u.s., that those economic relations continue to deepen quite a bit. that is also ective in our business footprint. we have discussion was customers how we can help to provide a resilient footprint for the future ahead. >> are you in a period where you have to build resilience given perhaps trump is going to take a hawkish approval to pproach wit the year? >> absolutely. we have a bit of an advantage, dan. we also have a policy of being globally local. we also had local management teams in the markets. we work with the local exporter community which is our main customer base. we will continue to do that and will leverage our global footprint to provide the flexibility that now especially

manufacturing companies need in this rather complicated environment >> i wanted to ask you specifically about what we're seeing around the business right now. shares lost about one fifth of value last year. you came on cnbc and unveiled a plan to boost revenue 50% by 2030. what does growth in 2025 look like in percentage in dhl and where are you on the growth recovery story? >> we started to grow top line again in the third quarter. we had a healthy 6% top line growth. we'll continue to see, i think, an economic recovery. what we cannot influence as much is skepticism of investors especially as it relates to europe. we still have significant part of revenue in europe. that is our traditional strong hold even though with have grown our american footprint and asian footprint quite a bit over the years. investors see exposure to europe

and i think there is skepticism about this. the environment about global trade is difficult. people do recognize the trade between china and the u.s. has shrunk. we try toholders that is not necessarily bad for dhl. the brexit wasn't bad for dhl because things became more complicated. we employ another 1500 people to do paper work and push paper for customs clearances. had is this is the story we face. >> what is the business outlook and where the shares are valued? what are investors getting wrong? >> i think it's a fair view of show me. show me this growth is sustainable. show me dhl can show trends to grow and do so profit bring. we play selectively in the ecommerce market which is a

significant part of our revenue now and we need to continue to double down on the areas that provide growth. i feel very positive about this, but i also accept there is skepticism. >> indeed. you and i have spoken in the past about the wth of ecommerce. there are other sectors you are targeting to drive revenue in the ars ahead? >> we have a prom geographically focused to double down where there is growth. where supply chains are shifting. that's clearly one priority. we also have an industry focus and clearly industries in life science and healthcare and people get older and there is technology advances. people need different type of services. we heavily invest in those areas. >> i want to ask about another area as well. the logistics industry is highly

competitive as you know. we are also seeing increasing consolidation. how are you thinking about automation and a.i. in logistics today? is this something that dhl is actively investing in or taking part in right now? >> very good point. especially in the aging populations and not only in the west anymore. if you look at the birth rates in korea and china, we get a glimpse of what this means for the future. we need this technology to become more productive. it is essential for us to keep also offering our services to customers. we employ 600,000 people. it is a labor intensetive industry. we see ourselves as the user of technology. we do not make great invest in technology, but we are in early adopterrobotics. we are the largest users, so that remains a priority.

>> before i let you go and quickly, what would you say is the biggest risk to the outlook? a lot of the conversation at davos is focused in on the new president. of course, there is no shortage of risks on the horizon. what is on your list right now? >> i most worry about, dan, in the complexity of the day-to-day challenges, we lose sight. i free up my time and agenda that things that need to be dealt with are ealt with. >> looking more glass half full than empty. >> absolutely. i do believe the world's complex, but full of opportunities. >> tobias, thank you very much for coming on. tobias meyer, the ceo of dhl. we will have more on cnbc including the conversations and

the bank of israelis governor. we will speak to siemens energy adviser and the ceos. don't miss the highlights from davos at 4:00 p.m. london time on cnbc. that's it for "street signs" live from davos and london. stay with us here on cnbc. "worldwide exchange" starts right now.

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donald trump retakes the white house four years after his first term with the wave of executive actions and orders targeting energy and immigration and trade policy and regulation. >> we're thinking in terms of 25% on mexico and canada because they're allowing vast numbers of people. canada's very bad abuser. vast numbers of people to come in and fentanyl to come in. >> when would you enact that? >> i think february 1st. i think we'll do it february 1st.