francine: worst piece?s: the worst piece would be something that was influenced by, say, politics or spinning facts. i'm hyper-allergic to -- to politics and when you try to take advantage of a position. so, i have had one experience during my career where i gave my resignation because somebody, a close colleague, actually completely twisted some facts. we had just agreed how to approach. then we met with our shared boss, and my colleague just turned it around. i said, ok. integrity is so holy for me that if people play tricks, you know, it's not my game whatsoever. so i just said, ok, that's it, i'm out of here. we sorted it out. i still stayed. so, any advice that is not based on honesty, decency, and, you know, following the facts, i have a really hard time with. francine: thank you so much for your time today. lars: thank you, francine. ♪ >> [speaking italian] ♪ >> [speaking italian]

francine: why? lars: i was a bit out of the loop for a couple days but i knew if i put myself into that i would become the bottleneck in the company and the company would have lost its ceo. so i asked our cfo to chair that and then i could still be there for everybody and people come to me and check in and i try to get a view for what our. i think the company needs another ceo. i believe i have. when i was promoted, i took a step up. i think they would tell me today that they would have liked me maybe to be a bit quicker act like the boss. but from the not natural to just be bossy after one night. i feel more comfortable today actually listening to my gut just a combination of your own feelings but also your experiences and earlier say what i believe in, and that creates clarity for an organization. francine: saturday mornings i understand you have off. lars: saturday is always a day i powered down. i run at a relatively high pace throughout the week, try to wrap things up, and saturday is a quiet d

francine: gabrielle chanel was like a pioneer. and i feel like, when you talk about her, it's also maybe telling a little bit about your story. you have a unique story. you grew up in a town in india where not many females were educated to a higher level. leena: yes. francine: so what was that journey like? leena: it was a long journey. it is -- i grew up in a small town in the southwest of india called kolhapur. and the world of luxury, refinement, sophistication was very far away from where i grew up. it was a small town like any other. most of my memories of me running barefoot in the town, or having my little bike and riding around. women being ambitious was not the norm. in fact, i remember my mother constantly telling me, "who will marry you, you are so ambitious," and "do you really know what you're going to do with your life?" and so, very limited access to role models, to opportunities. i did engineering after sort of convincing everybody in my family that engineering was good for girls, which was great. it was electronic

francine: right.ruce: we didn't feel it appropriate to put the two in the same fund, so we are creating another fund to do that. and some of our clients will come along with us, and we are quite excited about it. francine: is that a template for possible future kind of spinoffs? bruce: we have -- in our private equity business, we have a buyout sponsor business. but we are also doing -- we're just in the midst of creating a strategy for the middle east, which will be a separate pool of money. we're creating a strategy for financial infrastructure. because we think that's the next -- the next phase of infrastructure investing is in the financial backbone of the global economy. and a lot of the world has been pushing towards financial infrastructure, and it's not appropriate for our infrastructure fund. but -- so we are creating a new pool of money to do that. and so we -- there's a fine line between having too many things and making sure your clients, who want to be invested with you in that type of ar

[laughter] francine: age 24. emma: 24.e: and it was the determination of actually making something. emma: do you know what it was? i felt like i was adding a lot of value. and i think so many people through their careers have this feeling, right? i am adding a lot of value and i'm not being renumerated for what i bring to the table. and that feeling became so strong in me, but what do you do? at 24, you don't really have that many options. i did what a lot of people do. i went to a company and tried to do my best at the position i was given. and thankfully somebody saw that and decided, ok, maybe we'll set this girl up on her own. but i talked to so many either young people that i employ or people trying to get noticed. and i honestly think that is such amazingly good advice. because no one is ever going to look at you to do the next thing unless you are excelling where you are today. and so sometimes just buckling down and doing the absolute best job at wherever you are is the best way to get ahead. francine: but then act

francine: and now also selling to men.or go into a slightly different branch? emma: so interesting, because in good american, the first time we ever thought of going into another category was because customers asked us to. and i think it is a smart way to think about your growth and your development in a business. you really have to listen. you cannot take that commentary, like just the good things. because your customers will tell you what you need to hear and they will also tell you what you don't want to hear. it is like a big fat mirror. i feel like that is one of the things with social media that is so exceptionally important in business right now, because it is a reflection of everything you do and a reflection of your customer base. and if you are listening carefully enough, the data will tell you things. and all you need to do is tune into that. and so when i think about category expansion, it really is in regards to or in relation to what customers are asking me for, and we make those decisions based on that. we m

francine: i actually prefer audacity.chet that i'm sure gabrielle chanel would have loved. what have you learned about yourself as chief executive? so you were in charge of hr for unilever. it's a massive company. it's hundreds, thousands of employees. i mean, is it different actually being in charge of a company than being in charge of hr? leena: when i was moving to chanel, a mentor told me you're doing a quadruple jump start. so, it's change on so many dimensions. it's public to private. it's fmc to luxury. it's from anglo-dutch to french heritage. i have weekly french classes. so it's been change on all dimensions. luxury is very different for me. some sieges, you know, the preciousness, the rarity. it's not available everywhere. every time. it's the balance between timeless quest for new. it's all of that. it's different. it's to me, the principles of business and the principles of leadership are transferable across sectors. how to run a business across multiple countries, multiple product categories, multiple geogra

francine: chanel is behind some francine: chanel is behind some of the most recognizable designs and fragrances in modern fashion. the french luxury house is still privately held by everyone in your family involved with the company over the past century. i continue my rare interview with the firm's chief executive, leena nair. do you see that the high-end luxury, does that go higher in luxury, that actually there is a lot of players in the fashion world right now in luxury world. and it's really the ones that are very high that will do well. and does that also justify some of the price increases we have seen at chanel? leena: prices are related to our cost prices. these exquisite raw materials. send our production, as you know, is very rigorous, laborious, handmade. so, we raise our prices according to the inflation that we see. it is really linked to the cost price. we have also made a commitment to price harmonization across the world, which means a client should not experience excessive price differentials. no matter where they buy. francine: and the secondhand market is also some

francine: worst case? lars: the worst piece would be something that was influenced by politics or spinning facts. i'm hyper allergic to politics when you try to take advantage of precision. i've had one experience during my career where i gave my -- because a close colleague completely trust the impacts. we had just agree how to approach and my colleagues just turn it around. it is so holy for me that if people play tricks, i still stayed. so any advice that is not based on decency. following the facts. francine: thank you so much for your time today. ♪ ow! whoa! watch where you're going. yeah mom, pay attention. what if it's a concussion? hang on, i'll look it up. uh... i'm probably fine... probably? we noticed something wasn't right and got her to a doctor. i thought i was okay, but i had a concussion. sometimes, it's hard to tell on your own. don't mess with your melon. if you hit it, get it checked. jason: i'm guessing you've seen the show "succession?” has anybody ever brought this up with you? charlo

francine: welcome back.ow, like everyone else president zelenskyy is preparing for united states where donald trump might be president again. in an excuse -- in an exclusive interview he said he would like to understand how donald trump rings ukraine should win the world. pres. zelenskyy: so let us imagine that might be trump. in november. and he knows how to end the war, he has that plan. me, as the president of a country at war, not theoretical, but a realized president, i would be -- i would like to be prepared. we are a big country and we really depend on the aid from the world. and we depend on the aid in the position and the stance of the west. so i would like to understand what would it mean for him to finish the war fast. tomorrow do we want the war to be over tomorrow? we did not start it, it was putin who started it. if trump knows how to end the war, he should tell us today because if there are risks to ukraine's independence and risks that we will lose the statehood, we want to be prepared for th

francine: so you don't feel the need to talk?portant and we have transmission protections but this is important in disorderly adjustment and this is an orderly adjustment, important that we let the market reprice. francine: does it make a difference into some of these things? philip: i think it remains important but of course the next six months and then it will be runoff but we have a framework so i think we know the market will reprice and we know the condition for the ecb. we are -- what we said in june, we will be into early next year and there is a lot of foundations in the movement, we see inflation come down next year and early indications are in line. >> what does that look like? >> that's a natural question. under baseline of course we will not remain where we are. we have eight meetings between now and next year. this time next year we are going to be looking at target. being at target is not where we are going to be but the timeline will depend essentially, looking for extra confidence about the disinflation and the ke

francine: are you considering tax breaks?on't announce any tax breaks or tax changes without saying where the money is going to come from. we will have a budget later this year, but also i need to be really clear and honest about the scale of the challenge that we have inherited with the public finances. we will have to make difficult decisions. we need to fix the foundations before we can start rebuilding things in britain. unlike the previous government, i'm going to be honest about the scale of change. i will level with people and together we will rebuild our country based on that private sector business investment to get our economy growing. i asked the treasury officials to give me an assessment of how much stronger the u.k. economy would be today if we had grown the average rate of economies these last 14 years. the answer would be 140 billion pounds bigger, 5000 pounds for every family in britain. we have to grow our economy. it is the only way to improve living standards, keep taxes low, and have the money we need for

francine in new york, independent, you are up first. caller: good rning. thanks for taking my call. i realize the democrats are very nervous about this election. it is a serious election, but we have to believe in our president . we have to believe in biden to do what he needs to do and we need to get behind him. democrats are nervous about this. nobody can give you a guarantee, but we need to stand behind our man and focus on trump. he is the one with all the bad things he wants to do for this country, so let's get behind. get behind biden. host: what about the poll numbers? caller: i never went for poll numbers. we are 116 days away. polls change from day-to-day. we know what biden can do. he has done it. he has been the best president we have had in my lifetime, so let's go with him. you cannot throw him away for 90 minutes. and i bet trump was yelling like crazy during that debate, throwing him off his game. so give him a little grace. host: what about fundraising? if big donors like george clooney decide they are not going to donate a president biden's reelection bid. >> caller

francine: this is the man in charge of europe's most valuable company, novo nordisk, and its blockbustertes and obesity

francine: this is the man in charge of europe's most valuable company, novo nordisk, and its blockbustertes and obesity drugs ozempic and wegovy. both contain the key ingredient semaglutide, revolutionizing the weight loss market and generating billions in sales.

francine: leena nair is in charge of one of the most exclusive luxury brands of the world, chanel.

the communists, and it's a very left-wing structure, unruly france, that is , unconquered france, francine jean-luc melenjon, who is such an odious leader of the left, he was very active in supporting his... at the time, well, let's say contacts with before, before, before the full-scale incursion of russian troops into ukraine, with russian troops, on the other hand, with the communist party of russia, with other structures there that were close to him, in his entourage, there are enough people with russian, well with dual citizenship, for example, let's say in russian and french, but that is not important, what is important is that already during the election campaign for the european parliament, he clearly emphasized that, as in the case when his party is in power, whether here or in the european parliament, the attitude to ukraine should be the same from france as to palestine, and to so to russia as to israel, which, according to mélenchon, is the same usurper of territory that russia is in relation to ukraine, so this is the position, well it is clear that it is unacceptable for ukra

. ♪ francine: solving the climate crisis involves transforming almost every aspect of our lives.being driven by a new

london time with francine lacqua. let's take a look at how markets are tracking.t election in the u.k. ftse futures perhaps unsurprisingly quiet ahead of election day pre-stocks futures also looking flat moment. there is another election in france on the weekend. second round of voting for parliamentary elections there. let's look at how fx markets are tracking as well. we saw the dollar backing off after a set of dovish fed minutes, softer ism services data. we get jobs data out of the u.s. on friday. still a very weak yen, 161.55. the pound is unchanged ahead of the election in britain. not a lot of change for the euro either. nest just about all we have time for. let's look at what is moving on global markets as well. there is the board for you. fairly risk on day across the asia-pacific. i want performing well, -- taiwan for going well, the taiex bit up 0.3%, unemotionally the asx bit up by 1%. that is it from bloomberg markets: asia. horizons middle east and africa up next. this is bloomberg. ♪ hoosesleep number smart bed? can it keep me warm when i'm cold? w

francine in new york, independent, you are up first. caller: good morning.hanks for taking my call. i realize the democrats are very nervous about this election. it is a serious election, but we have to believe in our president . we have to believe in biden to do what he needs to do and we need to get behind him. democrats are nervous about this. nobody can give you a guarantee, but we need to stand behind our man and focus on trump. he is the one with all the bad things he wants to do for this country, so let's get behind. get behind biden. host: what about the poll numbers? caller: i never went for poll numbers. we are 116 days away. polls change from day-to-day. we know what biden can do. he has done it. he has been the best president we have had in my lifetime, so let's go with him. you cannot throw him away for 90 minutes. and i bet trump was yelling like crazy during that debate, throwing him off his game. so give him a little grace. host: what about fundraising? if big donors like george clooney decide they are not going to donate a president biden's