. >> honest, giuliana. >> good morning to you. i think. most of that will. >> be profit taking. >> deutsche bank out with a really interesting note this morning saying that shares of very richly valued. they're pricing in a lot of the expected future profitability here and shares giuliana have had a really good run so far this month. yesterday we saw the big declines in line with the market, but overall shares up by double digits more than 15%. so i'm sure there is a degree of profit taking here because numbers by and large were better than expected. we're seeing the profit before tax $1 billion. the net profit $0.8 billion. that was better than expected too. on top of that, you've got the higher than expected divi announcement and the share buyback program that has been flagged for 2025 of $3 billion. >> there is some. >> uncertainty related to that when it comes to regulation. and capital surcharges, but that remains to be seen. we'll probably get more clarity on that over the summer. but obviously the big topic for up for discussion whe

. >> that's right giuliana.o let's get straight into the conversation. >> i'm pleased to say. >> that i have with. >> me lars. >> jorgensen, the. >> ceo of novo nordisk. >> good morning, and thanks for having us over. >> thanks for having me. >> first and foremost, i would like. >> to focus on. >> some investors had a lot of questions about the trial results we obtained in december. but today. you're saying that you will be asking for regulatory approval in the first quarter of 2026. tell us what's making you confident to achieve that timeline. >> so what we've seen is a very potent. >> biology that. >> delivers. i think, among the. >> best weight. >> loss seen in the industry so far. we have also. >> looked into the data and. >> see that it's. >> appearing to be very safe. >> and also. >> well tolerated. >> so that really. >> caters for. >> a very strong. >> product to the market. we have also said that we will be doing one. >> more trial to. >> further seek out the. full potential of kagoshima, because we beli

giuliana teitelbaum in london now with european reaction. jp ong standing by in singapore with the asia trade. giuliana, let's kick it off with you. >> contessa. good morning. well, european markets as a whole have been fairly resilient to the news of these new tariffs from the trump administration. the european equity market overall trading higher. this morning we are coming off of quite a strong run. bear that in mind. seven positive weeks in a row for the main benchmark the stoxx 600. so you can see here all the major bourses in europe are modestly higher. this morning. we are watching the steelmakers closely though. the european commission has said this morning that the tariffs would be, quote, unlawful and economically counterproductive, adding it will aim to protect the interests of european businesses. so continuing to say that they will respond to the trump administration. we don't know what that response will look like at this stage. you've got thyssenkrupp, the steel maker, trading around the flat line this morning. arcelormittal d

>> so there could be. >> several reasons here, giuliana. is the reports that we're getting this morning that one of the key investors in unicredit has actually decided to sell some of the stake in some of the positions in unicredit. when you also look at what else unicredit said this morning. yes, they highlighted that revenues are likely to come down in 2025, given the fact that we are in a new environment in terms of interest rates, they are expected to come down and therefore that could have an impact on the business of unicredit as well. however, though, when you actually step back and digest all of the figures in this statement, this was another set, a strong set of numbers for the bank. whether you look at it on an annual basis or a quarterly basis, they deliver the top and bottom line beats today for the full year and the quarter as well. however, though there is a lot of interesting stories when you think about unicredit, it's not just about the business and the numbers, it's also about what they're trying to do in terms of consolid

giuliana was from the german chancellor, olaf scholz, suggesting that the european union could be in position to retaliate within an hour. that would be a very fast response, but it would highlight that they are prepared for this eventuality. they have been doing so for a long time, really. so let's see whether this announcement is going to come through and indeed, what sort of tariffs the european union could announce in response. but back in 2018, we saw the european union imposing tariffs, for instance, involving some of the american whiskey and bourbon, the jeans, motorcycles as well. so it could be a similar list that we would get this time around. but of course it will also depend on the amounts that the donald trump announces later today. so all eyes at this stage on what the trump trump is going to say. >> well, it also seems really unclear at this stage just how much of a tactic these tariffs are versus, you know, whether these are the end game for president trump and whether he's just trying to bring parties like the european union to the negotiating table or parties like c

. >> hi, giuliana. we were going to speak to one. >> of. >> europe's most prominent. >> entrepreneurs turned investors. let me introduce him. >> taavet hinrikus. >> henriques. >> who is the co founder at wise and. >> a. >> partner at plural. david. let's talk. >> about ai then. >> we're trying to. >> understand here. >> where the investment. >> case lies. >> a lot. >> of. >> the attention, a. >> lot of the capital. >> a lot. of the high valuations. >> have gone into. >> those foundational. model companies. >> but are. >> we missing something? >> is the value, as other investors have told me in that application layer? next. >> i'm very excited about what i'm seeing. whereas the most ambitious entrepreneurs are building ai applications. and we look at companies, for example, like helsinki, using ai to build real world defense systems. looking at proxima, using ai to accelerate the build out of fusion power power plants. and additionally, there are a bunch of other european companies in asia, 11 labs, mayb

. >> giuliana, thank you. >> very much.ur giuliana tatelbaum live. >> from our london newsroom. >> all right, turn it back to the u.s. >> markets us. >> bond yields. >> they're hovering near their lowest level in more. >> than a month. as investors. >> they remain. >> uncertain about the outlook. >> for the fed. >> and for rates. treasury secretary. >> scott besson says. >> he. >> and president trump. >> are more focused on reducing. >> borrowing costs by addressing the yield on the ten year, and not the short term rates that are more influenced. >> by fed decisions. >> besson adding while. >> the. >> president wants. >> to lower rates, he will not. >> ask the fed to cut. >> those comments coming. >> just before. >> fed vice chair philip jefferson said he's in no rush to push for a move until the fed gets a better sense of the effects. >> of trump policies on tariffs. >> immigration, deregulation and taxes. joining me now is simon shaw, chief global strategist at principal asset management sima. good morning. good to see yo

. >> welcome back to street signs i'm giuliana tannenbaum and these are your headlines.ident trump triggers his trade war imposing 25% tariffs on mexico and canada and 10% on china, saying it's payback for being ripped off in the past. >> we may. >> have short. >> term. >> some little. >> pain and. >> people understand that. but long term, the united states has been ripped off by. >> virtually every. >> country in the world. >> us chip makers react negatively in premarket trade, with nvidia, intel and amd under pressure with the nasdaq set to see the worst of the selling at the open. europe's carmakers suffer the brunt of the selloff, with volkswagen and stellantis the most exposed to trump's tariffs. vw saying it's counting on constructive talks to defuze the trade war. and the dollar surges against its peers as european central bank governors warn that trump's tariffs risk igniting inflation in the euro. once again, the ecb's mario centeno tells cnbc that europe must take action. >> we are probably used. >> a. >> little bit too much. >> to be. >> sitting in the passeng

giuliana. good morning frank. >> good morning. great to see you. well, a very similar picture here in europe to what you're seeing in those us futures markets and around the globe. heavy selling as investors react to news of these tariffs out over the weekend, and also as investors brace for potential tariffs targeting europe in the days and weeks ahead. so here's the picture. you've got the ftse 100 here in the uk off about 1.2%, the xetra dax in germany bearing the brunt of the selling down now nearly 2%, the french market down 1.8% in the italian market, down about 1.5% as well. european automakers in sharp focus this morning. they're selling off heavily as they have relied very heavily on manufacturing operations across north america and, of course, have highly complex supply chains. so here's a picture for you of the key auto makers. volkswagen in sharp focus. it is down nearly 7%, stellantis down nearly 8%. a similar picture in asia. overnight, the automakers selling off very sharply. you've got toyota down about 5%. honda down more than 7%,

. >> all right giuliana, thank you very much. >> julianna tatelbaum live in our london newsroom. turning back to the us market. stocks. they may have mostly shrugged off trump's latest tariff move. >> yesterday. >> but today. >> rising trade. >> tensions across the atlantic are injecting some new uncertainty into the markets. >> all this as the fed chair gets set for. >> day one of two days of capitol hill. >> testimony on the. >> economy and. monetary policy. joining me now is alan. >> mcknight. >> chief. >> investment officer. >> at regions wealth management. >> alan, good morning. >> good to. >> see you. >> great to be with you, frank. >> all right. so we're. >> seeing. >> more tariffs. >> from the president. a lot of thought that we may see increased tariffs on asian nations as well. several of them at least. let me ask you when we're talking about your clients and portfolio management, do investors. do they need to respond to these tariffs and policy shifts by. >> shifting. >> their portfolios? or is. >> there another strategy. >> that you're employing? >> we don't think it'