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full-year earnings came in flat on the year in line with

expectations. posted a 4.1% decline in sales and says it sees no market tailwind this year. nikolai, great to have you on the program. you are in the midst of a pretty serious restructuring program at the company. looks like you are trying to cut costs to offset lower sales. characterize the quarter for us. >> as you said, we have implemented measures because we saw that our markets will not grow as we have expected many years ago so we do not-- we have to take action. we took measures as well last year which safeguarded our results. we have been able to increase our earnings in 2024 and achieve the targets set for the year. >> in terms of your outlook, bracing for a difficult 2025. tell us more about what you see as the key headwinds for the

business. >> our core markets. europe and north america. those are the two largest markets and then afterwards comes china and asia. we see in the automotive industry which is the strongest market for us that europe and america are supposed to shrink again this year in terms of production. so we don't see many markets. and as well on the industry side, we already noticed in the second half of last year relatively weak environment that is a matter for our industry sector. and we only inspect in the second half there is a certain relief from that market and we will get less headwind in the second half. however, as mentioned, we implemented our measures and we were father-- will further pursue them. >> let me zoom in on the automotive sector.

i think investors are white focused in automotive given the plan to spin off of this segment later this year. what are your assumptions for the auto business from a volume and margin perspective for 2025? >> so, we improved our margin on earnings in automotive last year so we are going from 2%. we were achieving last year to 3% is on the measures which we implemented. we as well don't see improvement from production, that's why we guide for sales. but i said at the beginning we plan for improving our results based on the measures which we implement. and if necessary we come up with further mothers-- measures

in 2025. >> a global trade were resurrecting over our eyes. war is erupting before our eyes. the administration announced it would be going ahead with these tariffs on mexico, canada and china. does your guidance take into consideration these new tariffs? >> as you mentioned, the guidance has been done without the effect of tariffs which are difficult right now to assume and estimate and really to have in a concrete way. we are pursuing a strategy in the market for the market for the last 10 years. we have heavily invested in the united states more than 3 billion invested in the region and we have more than 14,000 people. on the other hand we have goods

with cross-border shipments. on the other hand, we have to talk to our current partners in order to find appropriate solutions. >> can you give us any color or sense of the magnitude of the hit from these tariffs? when it comes to these conversations with your customers in order terms of the supply chain as well, what is the likely cost impact and price impact? >> too early to quantify any impacts. but one thing is clear, with the amount which we see, we are not able to alone, we have to find solutions with our customers. a very different sector by sector as well and depends on the different customer bases on the automotive as well as industry customers and with each of them we will sit

together and decide on the best solutions for the situation. >> what about longer-term in terms of your investment in the u.s.? the trump administration is very keen for these tariffs to essentially steer european companies and companies around the world to invest more in the united states. if that in your future? >> as i said before, the last 10 years we have heavily invested in the u.s. because we see there is business for us and demand is increasing for our products. so we built plants in the u.s.. and we built a new automotive plant where we are using for autonomous mobility sensors and within the last 10 years and we have followed suit. we will further invest and grow our business with local production in the u.s. for the

u.s. >> very briefly, nikolai. your message to the next german government what it can do to better support your sector. >> so, we have to work on the competitiveness of the german and european industry. this is a common challenge. we have to get more competitive, we have to get so we can focus on value creation within our countries and europe as well as germany is getting more competitive versus the other parts of the world. >> nikolai, appreciate your time this morning. ceo of continental. back to the geopolitics, resident donald trump has reportedly halted military aid to ukraine following last week's oval office clash with president volodomyr zelenskyy. white house official telling nbc news that aid is being paused and reviewed to ensure it is contributing to a solution. european commission president has announced 115 billion euros

in fresh loans to fund investment as part of plants that could. also announced changes to budget rules and said european investment bank would work to globalize capital. von der leyen said there is a strong consensus the block needs to step up. >> in various meetings in the last few weeks, most recently in london, the answer from european companies has been as resounding as it is clear. we are in an era of rearmament. and europe is ready to massively boost its defense spending both return to short- term to support ukraine but also to address the long-term need to take on more responsibility for our own

european security. >> now as you can see, we are seeing continued strong bidding for these european defense names despite the rally we have already seen today and despite the weakness we are seeing elsewhere in europe. investors continuing to pile into these and this morning, ursula von der leyen's comments just accelerated this trade. reported better than expected 8.3% growth. increase profitability boosted by higher defense spending and recovering air-traffic control. we have seen this go from strength to strength in line with the other names in europe. what did we hear from the company? >> is all about geopolitical context and the u.s. freezing aid to ukraine, this announcement from ursula von der leyen. so overall led by defense, sales and profits were up 13%. they did get weighed down by

and remember they are in talks for a potential joint venture when it comes to satellite operations. they just to give you a little bit of color for some comments, the latest for ukraine is equivalent to a year's revenue from thales subsidiary and that gives you all the context impacting the business. for 2025, organic growth between five and 6% and it won't affect 2025 just yet. in my further down the line. they are waiting to see how it translates into actual investment. they are behind on innovation spending, so they are waiting to see what happens. and some issues on supply- chain. some raw materials, whthose

bar materials-- raw materials come from. certainly increase in defense spending. shares are up almost 75% the past 12 months, 16% this morning and here again up around 7%. >> you raise such a good point around this investment not only for thales . it won't even turn up in the 2025 numbers. this is a long-term for these companies. a real paradigm shift. the whole investment case has dramatically changed. we see this rally in defense stocks in europe. off of very low base of earning expectations. >> european companies spending more on defense. yes but where? there are real differences

there. thing we need to buy european and beef up the european defense production there. that is longer-term and other european partners have continued to buy from the u.s. to keep them on the outside as well to benefit from this. there is a discussion internally from europe as well and how do you move forward in buying more defense? >> we had that conversation with the ceo of thales with an exclusive conversation at 12:15. >> thanks so much charlotte. coming up, a fresh $100 illion investment into the u.s. more on that story after the break. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our

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welcome back to street

signs. these are your headlines. ruby tuesday, european equities open in the red and solidarity surges. china and canada retaliate as they raced for a potential trade war. >> they can't come in and steal our money and our jobs and take our factories and take our businesses and expect not to be punished. they are being punished by tariffs. >> tariff breath put the brakes on the lights . well continental leads auto sector losses and ceo tells cnbc he doesn't expect much improvement until later in the year. >> we only expect in the second half that there is a certain relief and we will get less headwind, let's put it that way. we implemented our measures and will further pursue them. >> defense jobs lineup another

day of games. games. the eu announces a landmark of $150 billion in loans for defense after america reportedly halts all military aid to ukraine. >> we are in an era of rearmament. europe is ready to boost its defense spending. so this is europe's moment and we must live up to it. >> an exclusive conversation with thales ceo. and oil and gas stoke turn at the bottom as opec plus producers can from the first output hikes of 2022. and weaker profits and declares a network dividend. let's get a check on european equity markets.

which have joined the wall street selloff that we saw yesterday. now pulling back about 1.7% similar to. the cac 40 also in the red. after a european equity outperformed once again yesterday. docs rallied 1.2% yesterday, the strongest daily performance since november 2022. jim reed in his morning note to clients, from a marketing standpoint the sentiment around europe is phenomenally positive right now. that is the backdrop heading into today. yes we are seeing european equities react natively to the confirmation of tariffs from the trump administration on mexico, canada, china. but overall, european investors are very bullish about what this new spending paradigm might mean for european growth and markets. we are looking at a rebound

from the selloff we saw yesterday. the nasdaq add back about 47 points, now flat for the dow and s&p. let me remind you, this is after a dismal day on wall street yesterday when the dow tumbled 800 points, the s&p and nasdaq both off more than 1.5%. the nasdaq down more than 2% so we had a rough day yesterday and looks like some stabilization is the way to frame it today. thales . tsmc announced a fresh investment into the u.s. the ceo said the company would build new facilities in the u.s. trump said domestic manufacturing was a matter of national security. tsmc's investment is not the only reason the u.s. was in focus at barcelona's mobile

world congress. let's get straight out to karen who joins us now from the mobile world congress in barcelona. good morning. >> reporter: the trump tariffs are an interesting conundrum for a lot of technology leaders. we've been in the past lane-- fast lane when it comes to a.i. and it doesn't feel as if tariffs will derail that they may detract from some of the hype. the nasdaq seeing a selloff, the ark innovation, there is an element of caution. what we are seeing a ton of investment in a.i. and being backed by u.s. tech companies getting other fundraising yesterday. the money is being raised because nobody wants to miss out on the a.i. cycle. likely seen in other cycles where there is tariff uncertainty. others just think on innovation, because the growth is there. but there is no doubt also some

of the deeper fears elsewhere. and what we are seeing today a big announcement on defense, technology as part of the mix too. we need to get our act together. we need our own tech landscape less reliant, perhaps, on u.s. technology and service providers. there is that overarching threat and of course looking for other players who could fulfill that. deep seek has been a big player recently that is change the narrative. people are really trying to work out how to deploy the technology if it works in their systems. there is a process here. but tariff threat, i spoke to a couple of big ceos about what it could mean for them including cisco. let's take a listen to what they have been saying about the threat of tariffs. >> they are still negotiating. making progress, and i'm

hopeful that these tariffs that have been put in put the pressure on both sides hopefully to get the resolution on the issues that exist. that's the best case. >> i don't think in general tariffs is the way forward. i am much more classical. but what i do think if there has been a drastic change in the relationship of europe and the u.s. and the last three months. in that regard, as a result of that change i do think and i do support those that think europe must have autonomy. >> you don't know exactly how this is going to go. we are big exporter of chips. chips are going to devices that are made all over the world. and it's hard to really know what is happening. which is going to navigate based on whatever the outcome is. >> we just highlight those

comments. number one, cisco saying they hope this is just negotiations. and that may be the reality, even though we have the tariffs perhaps there is a way forward. otherwise we will see some enduring impact. and hopeful they won't be caught up in some of the tariff threats. don't forget retaliation, there is a lot of crossfire when it comes to tariffs. the other point is from the european leader the ceo of telephonic thing saying we need more european technology. very strong messages from all three leaders. none of the big themes here at mobile congress is whether european regulation could stop us in our tracks. one of the very interesting snippets i had yesterday was that fantastic data privacy legislation and was really hopeful jurisdictions would

adopt has actually slowed europe down. because the limits means there is less data for european companies to crunch. and of course a.i. is all about crunching data. so just another example of how european regulation could get in the way of growth here. the other big theme is around autonomous a.i. and nvidia was talking about that last week. autonomous a.i. means using it in corporations, less human decision-making. this is where we are in the future. talk to you. >> fascinating to get more insight on the ground from barcelona. i want to turn now to oil markets. opec plus oil producers set to go with a plan to increase in april. the group will boost output by 138,000 barrels per day next month. meanwhile, net income at aramco

fell by more than $15 billion of the year to just over 106 billion in 24. expects to declare lowered evidence in 2025. we are seeing underperformance in energy needs this morning in europe. the worst performance sector in the market. despite the selloff we are seeing in the auto space on the back of tariffs. that tells you something. thankfully dan has been covering it and he joins us now with more on why oil is lower and how significant this guidance is from aramco. >> really big numbers from aramco. we saw profit pulling back last year as lower oil prices and rising costs took a toll. aramco is the world largest oil company so what they say really matters in this sector. we saw that income crossing at $106.2 billion last year, own from 121.3 billion in 2023. weaker revenue and higher

operating expenses to blame. but of course lower oil prices also having a very significant impact as well. aramco is of course saudi arabia's financial powerhouse but the fiscal strain is also becoming harder to ignore. on the dividend side, aramco expects to pay $85.4 billion in payouts this year. that is down from 124 billion last year. that of course means more pressure on a widening saudi budget deficit is the kingdom and sovereign wealth fund which of course own aramco push ahead with big spending on vision 2030 infrastructure and mega social programs in the kingdom as well. the ceo update on the earnings call a few hours ago, he did say that global oil demand will continue to rise in the year ahead and interestingly he also welcomed this decision to raise output for the first time since

2022. very big headlight in the oil markets making a lot of waves in the market today. that increase is going to be 138,000 barrels today starting next month. here's how he responded on the call. >> as we roll out more of the additional production from opec, the discussion is that we will be in better position because we will be benefiting from that. the other side is that the market will also give you upside. >> aramco ceo and putting all of this into context. remember that opec's plugs plus

also as we see u.s. president donald trump renewing the pressure on opec and in particular on saudi arabia to lift production to bring prices down. overnight, opec officials said they still have the flexibility to pause or reverse this increase in market conditions. but you also have to wonder if this decision to increase output is in response to that pressure they are seeing from the white house right now. >> really appreciate you bringing that sound and recapping for us. coming up on the show, president trump's tariffs looks at to make waves in d.c. and across the u.s. all the latest, next.

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will come back to street

signs. tracking all the market moves and reaction to president trump announcing he will follow through with those threats to improve-- impose tariffs on canada, mexico and china. a bit of a bounce back for u.s. markets after the heavy selling we saw yesterday. the dow dropping more than 800 or around 800 points. some fresh lines out of the german economy minister on the latest u.s. tariffs saying that we are walking into a major conflict with eyes wide open. if trump imposes tariffs on you products we will respond with unity and confidence. the economy minister adding that we support the eu commission of working with the u.s. to find solutions. that is the latest from germany. in terms of the impact on u.s. markets and u.s. economy, joins us now. she spent digging into what these tariffs mean for the u.s. economy. great to have you with us.

president trump has touted these tariffs as beneficial for america and the american consumer. what have you found looking at a sector by sector perspective into what these tariffs will actually mean for the u.s. economy? >> good morning, juliana. in one word, inflation. when you look at the u.s. economy overall, you have to make it down by each state. every state has its own economy and therefore its own trading as well as exposures that they have. for example, lending tree data which we used and worked with. the top states that are going to be impacted the most with mexico are going to be montana as well as texas, arizona and michigan and louisiana. and what we did is in terms of looking at the what. we are looking at ev batteries

for tesla. looking at electrical components. looking at agriculture. when it comes to canada. canada in fact the largest export that they sent into these states is energy. that is the top dollar value. oil for montana and oklahoma. actually surpassed in terms of dollar value with what some of the energy in terms of x texas exports. and then when you're looking at china, which as you know we have been in a trade war since 2016. that once again in terms of apparel, electronics. what happens here is its for tat. if we are going to tariff them,

they are going to tariff us. that is impacting those economies as well. seafood for maine. electronics for new mexico going into mexico. but when you look at this if we are going to be tariff , that means the companies that are investing in these states are going to pull back. and when i spoke with economic development nonprofits in new mexico, they told me they are already seeing pullback in business investment and that impacts jobs. >> fascinating and great to get color around these impacts. lori, i appreciate you joining us so early in the morning. president trump will deliver his first address to a joint session of congress since his return to the white house tonight. nbc news joins us from now from

washington. set the stage for us, can you give us a preview of what we expect to hear from the president? >> reporter: good morning, giuliana. certainly the question of trade and tariff is going to be something he will have to talk about. resident trump has said the intent is to cut down the flow of fentanyl into this country but he is of course talking about the top u.s. trading partners and there are a lot of concerns about what the impact is going to be on american consumers. are we going to continue to see inflation and rising prices which is what president trump ran on and many voters have been looking to him to correct. so at some point he is going to have to start talking about the fact that prices are going up and they continue to under this tariff plan. outside of that they are expecting potentially discussion about foreign policy. we learned overnight that the trump administration is pausing aid military aid to ukraine after that big public clash in

the oval office. and the fallout from that. so president trump was asked about this yesterday and said that he believes a lot of mere zelensky needs to show a little more appreciation and potentially they could get back on track with negotiations that could lead to a peace deal with russia. outside of that, there is the looming question of these major cuts to the federal workforce. there is ukrainian president zelenskyy with trump. there is the looming question of these major cuts that have been ongoing to the federal workforce. elon musk's apartment of government efficiency. there is also the measles outbreak spreading in texas. potential government shutdown looming next friday. it's hard to see how a deal could potentially be reached by next friday. if there is a shutdown it's going to have a lot more impact

on the u.s. economy. so there is really a lot on his plate when he prepares to address a joint session of congress today. we heard from vice president jd vance is that he's going to focus on his successes in the first several weeks in office and the upport they do have from a lot of people that voted for him. they did want to see specifically downsizing to the federal government. >> quite a full agenda indeed. alice, thanks for breaking it down for us and hopefully we'll get some analysis from you tomorrow. we will bring you that live at 2:00 a.m. london time tomorrow morning across cnbc. a record number of americans applied for uk citizenship last year. the number of applications rose 26% to 6100, a surge in the final quarter which is up 40% year on year. why is that? immigration lawyer said the

election and changes to tax laws were partially responsible. president trump elected for a second term and americans are trying to come here. turning to markets, the reactions we have seen for the imposition of these tariffs on mexico, canada and new levies on canada-- china. we are read across the board. the best performance for the dac since 2022 so we are seeing a pullback but not to the extent of the rally yesterday. investors try to understand what these tariffs will mean for the auto sector. if you heard that interview with the continental ceo. he said that because of the fast-moving nature of these tariffs they weren't able to make any impact into their guidance. it's up to investors to try to figure out what these will mean for the auto sector and for the

market overall. quite a tough job. u.s. futures are in the green right now. the nasdaq looking to add back 42 points after the heavy selling yesterday. the dow joins looking to add about 12 points. the s&p also looking flat at the moment. the trump address to congress later tonight will be very closely watched by the market to get a steer on where the trumpet ministration may go next. a number of issues from tariffs to the ukraine situation and the list goes on. that is it for today show. worldwide exchange is coming up next.

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