UniCredit’s record-breaking year

UniCredit posts a record-breaking year and its 16th straight quarter of growth, as net profit comes in just shy of 10 billion euros despite more than 1 billion in extraordinary charges. CNBC spoke exclusively to CEO Andrea Orcel on the company’s earnings and Italian banking consolidation. U.S. President Donald Trump signs off a 25% tariff on steel and aluminum imports – and warns of further trade levies in the coming weeks. Gold hits a fresh all-time high, settling its record for the fifth time this year as tariff tensions push investors to the safe haven asset. Meanwhile Sam Altman brushes off an unsolicited $100 billion bid from Elon Musk to buy OpenAi as the billionaires’ bitter rivalry takes a new turn. In Paris, President Emmanuel Macron pledges to roll back European red tape at the AI Action Summit, as the bloc battles to keep up with the U.S. and China.

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