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CNBC's flagship show in Europe sets you up with everything you need to know for the European business day. Anchors Steve Sedgwick, Karen Tso and Arabile Gumede engage in unscripted and dynamic debate on the day's top stories. They are joined by leading business executives, policymakers, financial strategists, fund managers and other newsmakers to provide original points of view and instant analysis of the latest business news and key market themes.
SQUAWK BOX, MONDAY 16TH DECEMBER, 2019
Phase One Done… the U.S. and China officially agree on the initial stage of the trade agreement. CNBC’s Hadley Gamble is in Doha where she speaks exclusively to U.S. Treasury Secretary Steven Mnuchin who says the deal will be signed early next year. However, the news comes as China reports mixed manufacturing and property data for November, casting doubt over the health of the world’s second-largest economy. Following Friday’s thumping general election victory, UK Prime Minister Boris Johnson says he will be ramping up efforts to get his Brexit deal swiftly approved. And in Washington, President Trump faces a historic House impeachment vote later this week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5816/12/2019
SQUAWK BOX, FRIDAY 13TH DECEMBER, 2019
“We pulled it off” … UK Prime Minister Boris Johnson hails a Conservative landslide victory – the party’s most significant electoral mandate since 1987. In the markets, sterling jumps by more than two per cent against the dollar on the news. Labour, however, are nursing their wounds after their worst performance at the polls for more than 80 years. Opposition leader Jeremy Corbyn has confirmed he will not stand in another election. In Brussels, EU leaders breathe a sigh of relief at the result, voicing hope it will usher in a new phase in deadlocked Brexit negotiations. CNBC learns that there is also movement in U.S.-China trade talks with a 'phase one' deal agreed in principle. Beijing has reportedly said it will buy $50bn of agricultural goods in return for President Trump suspending further tariffs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:1413/12/2019
SQUAWK BOX, THURSDAY 12TH DECEMBER, 2019
Holding firm… after three cuts this year, the Federal Reserve leaves December’s rate unchanged. Chairman Jerome Powell says he needs to see ‘persistent and significant inflation’ before he'd be prompted to cut again any time soon. The focus shifts across the pond, with all eyes on new ECB president Christine Lagarde’s first policy decision later today. And President Trump is set to meet with his key trade officials to discuss fresh tariffs on China as Sunday’s deadline looms.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28:2812/12/2019
SQUAWK BOX, WEDNESDAY 11TH DECEMBER, 2019
The countdown is on! Investors eagerly await Saudi Aramco's mega IPO with shares set to start trading on the Tadawul, in the world's biggest listing ever. We are live with reaction from Riyadh, as the oil giant makes its debut at 32 riyals a share, valuing the company at $1.7tn. It’s a mixed picture for U.S. and Chinese stocks with the threat of fresh tariffs on Beijing just around the corner but the markets are now focused on the Federal Reserve’s rate decision due out later today. Swiss bank Credit Suisse cuts its profitability targets for this year and next, as it faces shareholders in its investor day, amid pressure from negative interest rates. With a day to go before the UK general election, sterling slides against the dollar after a new poll hints at a hung parliament. In Washington, Democrats formally publish two impeachment articles against President Trump, who becomes the fourth U.S. leader in history subject to such charges.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23:0211/12/2019
SQUAWK BOX, TUESDAY 10TH DECEMBER, 2019
The final countdown… Less than a day to go before the world’s largest ever IPO, the listing of Saudi Aramco. We hear exclusively from Saudi Arabian finance minister Mohammed Al-Jadaan who tells CNBC the kingdom is not running out of money, despite contending with falling oil prices, lower reserves, a widening deficit and the lower-than-expected size of the Aramco deal . We are live in Riyadh. Chinese consumer inflation reaches an eight-year high as an outbreak of African swine fever continues to drive pork prices up. Meanwhile, Chinese auto sales drive lower for a 17th straight month, as the world's largest car market continues to reel from slowing growth and the trade war with the U.S. In Paris, Russian President Vladimir Putin and Ukrainian President Volodomyr Zelensky have agreed on a ceasefire in renewed peace talks but have yet to bring the five-year-old Donbass conflict to an end. And in Washington, U.S. Democrats plan to introduce two impeachment articles against President Trump, accusing him of abuse of power and obstruction of Congress.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:4410/12/2019
SQUAWK BOX, MONDAY 9TH DECEMBER, 2019
Losing steam…Asian stocks fail to match Wall Street’s Friday rally after a blow-out U.S. jobs print which saw the Dow Jones soar to a two-month high. Hundreds of thousands of pro-democracy protestors stage a huge rally in Hong Kong to peacefully mark six months of demonstrations against the Chinese government. The turmoil continues in France where strikes against a radical pension overhaul spill into a fifth day causing travel chaos nationwide. And focus remains on oil markets after Opec and its allies pledge to deepen production cuts. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman tells CNBC in a First On interview that the timing of the move has nothing to do with the listing of Saudi Aramco, as the kingdom prepares to stage the largest IPO in history. And in the UK, polls place Prime Minister Boris Johnson on track to win a Tory majority in this Thursday’s pivotal general election. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1509/12/2019
SQUAWK BOX, FRIDAY 6TH DECEMBER, 2019
It’s a day of drama in Vienna as OPEC talks stretch into the night, as ministers consider deeper production cuts to balance the oil market. Saudi Aramco shares price at the top end of the range to raise a record 25 point 6 billion dollars in the world's largest ever IPO. But the valuation falls short of the Kingdom's 2 trillion dollar target. There’s optimism for the U.S.-China trade war as President Trump strikes an upbeat tone on the state of trade talks, but Beijing warns any interim deal must roll back existing tariffs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:4706/12/2019
SQUAWK BOX, THURSDAY 5TH DECEMBER, 2019
Oil markets front and centre. Crude prices steady after a big surge ahead of today's OPEC meeting amid the prospect of deeper production cuts. Iraq's oil minister tells CNBC extending the current deal through June will not be enough. Investors eagerly await the pricing of Saudi Aramco's IPO, with the oil giant's bookrunners reportedly recommending a price at the top end of the range, making it the world's biggest public offering. In tech, Huawei mounts a legal challenge against the U.S. FCC, as it aims to overturn a ruling that bans government funds from being used to purchase the Chinese telecom giant's equipment. Another luxury deal in the works for Gucci owner Kering is reportedly in exploratory talks with Moncler about an agreement to buy the Italian jacket maker. And finally caught on tape, President Trump skips the end of the Nato meeting and calls out Canadian Prime Minister Justin Trudeau, after footage appears to show world leaders joking about the U.S. Commander in Chief.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:2305/12/2019
SQUAWK BOX, WEDNESDAY 4TH DECEMBER, 2019
Stocks across Asia join a global sell-off after the Dow drops another 280 points, as President Trump says a trade deal with China may only come after the U.S. election. In the U.K., the Queen rolls out the red carpet for world leaders to mark the 70th anniversary of NATO, with divisions among allies front and centre ahead of today's meeting. President Trump and his French counterpart Emmanuel Macron suggest they will find a way to avoid punitive measures on the EU, amid fears Washington will impose tariffs on French goods in retaliation for a digital tax.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:5904/12/2019
SQUAWK BOX, TUESDAY 3RD DECEMBER, 2019
Trump revives trade war fears. The Dow drops more than 250 points while the S&P 500 has its worst day in two months as U.S. President Donald Trump surprises markets with tariffs on steel and aluminium imports from Brazil and Argentina. President Trump touches down in the U.K. for the NATO leaders meeting amid growing divisions in the alliance. He is due to meet with France's Emmanuel Macron, after the U.S. threatens one-hundred percent levies on up to $2.4 bn of French goods in response to France's digital-services tax. Washington also says it may raise duties on a variety of European products after the World Trade Organisation rejects claims by the EU that it no longer provides subsidies to Airbus.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:0903/12/2019
SQUAWK BOX, MONDAY 2ND DECEMBER, 2019
Shoppers flock online helping Black Friday sales hit a record $7.4 bn in the second largest U.S. internet shopping day ever, with Adobe predicting an even bigger Cyber Monday. China's factory activity grows at its fastest pace in nearly three years in November sending Asian stocks higher, while state media says Beijing wants all existing tariffs scrapped as part of a phase-one trade deal. And a surprise in Berlin! The win of a new SPD left-wing leadership team puts Chancellor Angela Merkel's grand coalition on shaky ground.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:5402/12/2019
SQUAWK BOX, FRIDAY 29TH NOVEMBER, 2019
A peaceful night in Hong Kong as thousands of protesters stage a ‘Thanksgiving Rally’ to thank the U.S. for its support, but the Hang Seng slumps as the city prepares for fresh weekend unrest. Trade deal doubts continue with Chinese stocks set to close out the month in correction territory, but major U.S. indices are on track to log their best month since June. Fitch warns the euro zone is at risk of ‘Japanification’, while British Prime Minister Boris Johnson snubs the UK's first ever climate-focused election debate. Plus, shoppers start to splash out on Black Friday deals, after balloons fly at the Macy's Thanksgiving Day Parade.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:2629/11/2019
SQUAWK BOX, THURSDAY 28TH NOVEMBER, 2019
The Hong Kong issue leaves a sour taste on Thanksgiving Day. China summons the U.S. ambassador after President Trump signs legislation backing pro-democracy protesters in Hong Kong. The bill is set to test relations between Washington and Beijing as both sides race to complete a phase one trade deal, and weighs on markets in Asia. Deere & Co blames the tensions for its latest profit warning, sending shares in the world's largest farm equipment maker sharply lower. A key YouGov poll puts Boris Johnson's Conservatives on course for a majority in the upcoming election, while Labour accuses the government of putting the National Health Service on the table in US trade talks.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:1928/11/2019
SQUAWK BOX, WEDNESDAY 27TH NOVEMBER, 2019
China's industrial profits drop the most in 8 months as the U.S.-China trade war takes its toll, while President Donald Trump says a phase one deal is near. Strong results from Best Buy help drive U.S. stocks to fresh records, while discount retailer Dollar Tree blames tariffs for a cut to its outlook. And in an exclusive interview with CNBC, Dallas Fed President Robert Kaplan says if the U.S. wants more than two percent growth, the economy needs more than just monetary policy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0027/11/2019
SQUAWK BOX, TUESDAY 26TH NOVEMBER, 2019
A strong start for Alibaba in its Hong Kong debut. Shares surge in the first day of trade, delivering a vote of business confidence to the protest-stricken Chinese territory. We’re live at the Hong Kong stock exchange with all of the details. U.S. stocks hit fresh record highs as investors hang on to any signs of progress towards a U.S. China trade deal, while top officials discuss an agreement over the phone. Fed Chair Jerome Powell gives another sign rates are set to stay on hold, saying the central bank is strongly committed to its 2 percent inflation target. Plus, Londoners may be looking for a ride as the city revoke’s Uber’s license over safety concerns, with the ride-hailing giant saying it will appeal the decision.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:2426/11/2019
SQUAWK BOX, MONDAY 25TH NOVEMBER, 2019
Merger Monday! Louis Vuitton owner LVMH gets the little blue box, agreeing a deal to buy Tiffany and Co for $16.3 bn dollars. Meanwhile, Novartis inks a $9.7 bn deal to acquire U.S. biotech firm The Medicines Company in an agreement that will expand the Swiss drugmaker's portfolio of heart treatments. In political news, Hong Kong anti-government candidates claim victory in local elections, as voters turn out in record numbers to show strong support for the city's protest movement. U.K. Prime Minister Boris Johnson vows to get Brexit done, and promises no income tax increases and 50,000 more nurses in the new Conservative Party manifesto.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29:1525/11/2019
SQUAWK BOX, FRIDAY 22ND NOVEMBER, 2019
The Dow logs its longest losing streak since August, while stocks across Asia sit in mixed territory amid U.S.-China trade deal doubts. Fighting words from Chinese President Xi Jinping, who says he won't "flinch" from a trade war fight, adding that a 'phase one' deal must be based on respect and equality.The Hong Kong campus siege drags into a sixth day, as the Chinese-controlled city prepares to vote in local elections amid tight security. ECB President Christine Lagarde prepares to give her first high profile speech at the European Banking Conference amid concerns over record low rates. European consumer goods giants Unilever and Henkel are reportedly in talks with U.S. cosmetics maker Coty for its 7 billion dollar beauty portfolio.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22:3522/11/2019
SQUAWK BOX, THURSDAY 21ST NOVEMBER, 2019
Deal delay? Asian equities sink and the S&P posts its worst day in a month following reports that a ‘phase one’ trade agreement between Washington and Beijing may not be agreed before Christmas. However, during a tour of an Apple factory in Texas, President Trump hints that the tech giant could receive an exemption on tariffs for Chinese imports. We are live in Paris at the Women’s Forum Global Meeting where French economy minister Bruno Le Maire tells Karen exclusively that Europe cannot prosper and grow amid the trade war between the U.S. and China but he offers a glimmer of hope, saying that a limited resolution could be imminent. And in M&A news, LVMH has reportedly increased its bid for Tiffany’s with the classic jeweller granting the French luxury group access to its books.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:2021/11/2019
SQUAWK BOX, WEDNESDAY 20TH NOVEMBER, 2019
U.S. President Donald Trump threatens to increase tariffs on China sending Asian stocks lower if there is no 'phase one' agreement on a trade deal. The U.S. Senate passes a bill in support of Hong Kong protesters, eliciting swift criticism from China. Beijing calls it a blatant interference in internal affairs and vows to retaliate, also weighing on market sentiment. U.S. retail stocks take it on the chin amid weak results and forecasts from Kohl's and Home Depot, ahead of the Christmas holiday shopping season. And we are live in Moscow where we speak to VTB chairman Andrey Kostin about his view on the global slowdown and how much political tensions are weighing on the Russian economy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:0020/11/2019
SQUAWK BOX, TUESDAY 19TH NOVEMBER, 2019
Under siege… Hong Kong tensions run high as anti-government protestors remain barricaded inside the city’s Polytechnic University for the past three days. Martin Soong reports from the site as the territory’s CEO Carrie Lam urges a peaceful solution to the crisis. U.S. stocks rise to fresh record highs but are tempered, as CNBC learns that Chinese officials are pessimistic about the prospect of an early trade agreement between Washington and Beijing. We speak to top investors, including Pimco’s vice chairman, about hopes for a deal in Nansha at CNBC’s East Tech West summit. We also hear from the VP of Chinese ride-hailing group and Uber rival Didi Chuxing, who talks about the prospect of expanding the business beyond China in an on-stage fireside. And we break results from Swiss lender Julius Baer, which lowers its full-year targets, saying net new money flows from clients will be lower than previously anticipated.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:2019/11/2019
SQUAWK BOX, MONDAY 18TH NOVEMBER, 2019
A positive start to the week in Asia. Equities move higher as China cuts a key liquidity rate for the first time in more than four years and touts progress in the U.S. trade talks. Washington reportedly prepares to grant Huawei a license extension, but the chairman, Liang Hua, taking the stage at CNBC’s East Tech West conference in Nansha, says any decision will have a limited impact. Elsewhere, violent clashes grip Hong Kong as police and protesters engage in a fierce battle at a university campus, while the high court rules that a ban on face masks is unconstitutional. In corporate news, Saudi Aramco aims for a $1.7tn valuation in its highly anticipated IPO, short of the $2tn goal set by the Kingdom's crown prince. We are also live at the Dubai Airshow which so far has failed to attract the big spenders. The CCO of Airbus tells this channel that Boeing’s troubles with its 737 Max model don't benefit anyone in the aerospace industry.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:3118/11/2019
SQUAWK BOX, FRIDAY 15TH NOVEMBER, 2019
On trade tenterhooks… Asian equities are mixed, looking for clues on trade negotiations, as White House economic adviser Larry Kudlow strikes a positive tone and China’s ambassador to the U.K. tells CNBC exclusively that Beijing wants to get a deal done. Speaking before the House Finance Committee, Federal Reserve chairman Jerome Powell says the U.S. economy is stellar and there is no reason it shouldn’t continue to grow, despite risks in manufacturing. The fallout from the first public impeachment inquiry hearings continues, with House Speaker Nancy Pelosi saying that President Trump’s behavior towards Ukraine is tantamount to bribery - a charge he vehemently denies. And in corporate news, Chinese e-commerce giant Alibaba is upbeat about the future in spite of the ongoing violence in Hong Kong, where it is launching its retail campaign for a $13bn listing. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:4815/11/2019
SQUAWK BOX, THURSDAY 14TH NOVEMBER, 2019
Stalemate snag…trade talks between the U.S. and China hit an impasse with Beijing missing industrial output and retail sales expectations in October. In the U.S., Federal Reserve chairman Jerome Powell dismisses President Trump’s call for negative rates, telling Congress that the move would be ‘inappropriate’ for the robust American economy. Media giant Disney’s shares soar, contributing to three-quarters of the Dow’s record gains after its new streaming service Disney+ garners 10 million subscribers on the day of its launch. Not to be outdone, the S&P 500 posts its 20th record day of trade in 2019, one of its best calendar years in decades. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1314/11/2019
SQUAWK BOX, WEDNESDAY 13TH NOVEMBER, 2019
No trade transparency! U.S. President Donald Trump leaves markets on edge as he threatens to ‘substantially’ raise tariffs on China if a deal can’t be reached, but suggests that an agreement is imminent. In a speech at the Economic Club of New York, Trump also criticises Federal Reserve chairman Jerome Powell for not following other central banks into negative rates, ahead of Powell’s testimony to Congress. The ongoing violence in Hong Kong also weighs on markets in Asia. Geoff joins the show from Singapore in a special edition of Global Squawk Box, while Steve and Hadley discuss energy market uncertainty in Abu Dhabi, as the IEA warns that global oil demand will contract from 2025 as the transition to alternative sources gathers pace.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23:3813/11/2019
SQUAWK BOX, TUESDAY 12TH NOVEMBER, 2019
Lift-off… Boeing flies the Dow Jones to a new record high. The planemaker posts its best day in five months on news that it will resume using its troubled 737 Max planes as soon as January. The unrest continues in Hong Kong with more violent scenes overnight. Protestors have converged on the financial district, bringing it to a standstill this morning. But trade news lifts sentiment, as multiple media reports suggest President Trump will delay a decision on European auto tariffs for another six months. Logistics and mail giant Deutsche Post DHL kicks off another busy earnings day, tripling its operating profit in the third quarter. It also forecasts a strong holiday season amid an e-commerce boom and growth in its freight division. We are also live at the ADIPEC summit in Abu Dhabi where the CEO of French oil conglomerate Total, Patrick Pouyanné, tells this channel that there is a hysteria attached to the issue of energy transition and climate change. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:2612/11/2019
SQUAWK BOX, MONDAY 11TH NOVEMBER, 2019
Retail records…Chinese online giant Alibaba is set to smash last year’s Singles’ Day sales, already earning $23bn within the first nine hours of the event. We have the latest from Hangzhou. In energy news, Saudi Aramco has announced that it will sell 0.5 per cent of its shares to retail investors in its IPO but refuses to give a figure for the size of the eagerly anticipated listing, potentially the world’s largest. We hear more on the prospectus from the ADIPEC conference in Abu Dhabi. And we are also live in Madrid where there is no end in sight to the political deadlock after Spain’s fourth election in as many years.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:4211/11/2019
SQUAWK BOX, FRIDAY 8TH NOVEMBER, 2019
U.S. stocks hit fresh record highs as investors ditch bonds amid renewed trade deal hopes, but uncertainty over progress on a U.S.-China agreement sends Asian shares down from a six month peak. In China, there’s a sigh of relief from the tariff-hit economy as October imports/exports fall less than expected. But trade jitters overshadow a meeting of European finance ministers in Brussels, despite Economic Commissioner Pierre Moscovici saying disputes among ‘friends’ can be resolved. In corporate news, Disney shares soar after the media giant beats Q4 expectations. CEO Bob Iger speaks to CNBC exclusively about the upcoming deals for Disney+ ahead of its launch next week. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:4108/11/2019
SQUAWK BOX, THURSDAY 7TH NOVEMBER, 2019
The global rally cools as CNBC learns the signing of the first phase of the trade deal between the U.S. and China may now be pushed back to December, with the terms and location still to be decided. The Bank of England is expected to keep rates on hold as the U.K. December election campaigns lurch into gear. Prime Minister Boris Johnson launches the Conservative offensive amid ministerial resignations and senior party member gaffes. In corporate news, Tiffany is reportedly urging LVMH to increase its bid, saying the $14.5bn offer seriously undervalues the luxury group. We also have a glut of German corporate earnings today, including Siemens, ProSiebenSat.1 and Munich Re. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23:5407/11/2019
SQUAWK BOX, WEDNESDAY 6TH NOVEMBER, 2019
New peaks… the Dow and the Nasdaq hit fresh record highs but the rally fades in Asia, with investors waiting on further developments in U.S.-China trade talks. We hear from Société Générale CEO Frédéric Oudéa who remains bullish about the French bank’s outlook despite missing Q3 profit expectations. In Japan, Softbank Group eyes its first quarterly loss in 14 years following its bailout of corporate real estate start-up WeWork last month. CNBC speaks exclusively to JP Morgan CEO Jamie Dimon who says he’s learned the lessons from WeWork’s multi-billion dollar rescue package and its failed IPO. We are also live at Web Summit in Lisbon where Sky CEO Jeremy Darroch tells this channel that ‘subscription fatigue’ is setting in as competition ramps up in the streaming industry.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5106/11/2019
SQUAWK BOX, TUESDAY 5TH NOVEMBER, 2019
High Hopes…The Dow Jones, S&P 500 and the Nasdaq hit a fresh record high off the back of strong economic data and a renewed sense of hope surrounding the U.S.-China trade deal. The optimism is voiced by Chinese President Xi Jinping who calls for closer cooperation to solve global trade disputes at the opening of the China International Import Expo. There are also reports that Washington could be prepared to drop some tariffs to reach an agreement with Beijing. In corporate news, ride-hailing app giant Uber beats Q3 expectations but still reports a quarterly loss of more than $1bn. CEO Dara Khosrowshahi tells this channel he predicts the company will be profitable by 2021. And we are live at the Web Summit in Lisbon where we hear from Verizon executive vice- president Ronan Dunne. He says that the U.S. has what it takes to compete in the 5G arena. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:4605/11/2019
SQUAWK BOX, MONDAY 4TH NOVEMBER, 2019
The waiting is over. Saudi Aramco finally launches its highly anticipated IPO, with a domestic listing set for December, but offers little detail about what could become the world’s largest public listing. A stronger-than-expected October U.S. jobs report helps the S&P 500 and the Nasdaq to fresh record highs while Asian stocks rally on hopes that a trade deal between Washington and Beijing is nearing. Hong Kong is left reeling after the 22nd consecutive weekend of pro-democracy protests which have become increasingly violent. Chinese state media demands authorities take a harder line to quell the unrest. In auto news, German chancellor Angela Merkel promises to install 1 million electric car charging points by 2030 while Volkswagen is set to unveil a key new electric model at its newly converted plant in Zwickau.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1604/11/2019
SQUAWK BOX, FRIDAY 1ST NOVEMBER, 2019
Nothing scary about Halloween for stocks. Chinese manufacturing data surprises to the upside on the first day of the new month with market sentiment rising across the continent as a result. Over in the U.S., the S&P 500 and Nasdaq both end October by posting near-record highs – their strongest monthly gains since the start of the summer. The anchors break down the month-to-date winners and losers, such as the European auto sector and the dollar index respectively. There’s further unrest in Hong Kong with police clashing with pro-democracy protestors ahead of another weekend of planned mass protests and disruption. As the Halloween Brexit deadline comes and goes, U.S. President Donald Trump offers his opinion on the upcoming U.K. election, predicting a Corbyn government would be disastrous for the country.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0201/11/2019
SQUAWK BOX, THURSDAY 31ST OCTOBER, 2019
The S&P 500 hits a new record high following the Federal Reserve’s decision to cuts rates for a third time this year. Chairman Jerome Powell says the current monetary policy stance is now likely to remain on hold but should the outlook change the central bank would be ready to respond. In China, manufacturing contracts for a sixth consecutive month and the cancellation of the APEC summit in Chile next month dashes hopes of a trade deal between Washington and Beijing. In corporate news, Apple’s soaring wearables revenues help the tech giant beat Q3 expectations, offsetting a slump in iPhone sales. Facebook also beats expectations in the third quarter but the results are overshadowed by rival Twitter’s announcement it will ban all forms of political advertising across its platform. And there’s big movements afoot in the autos sector with the board of French car maker PSA approving a tie-up with Fiat Chrysler, potentially worth more than $40bn. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5331/10/2019
SQUAWK BOX, WEDNESDAY 30TH OCTOBER, 2019
Big bank earnings and a mega merger in the auto sector set the tone. Swiss banking giant Credit Suisse more than doubles net profit in the third quarter thanks to strength in its wealth management business. But German rival Deutsche Bank suffers a different fate as restructuring costs weigh on results, leading the lender to post a steeper than expected loss in Q3. Emerging markets focused bank Standard Chartered sees shares rise after it beats estimates with a 16 percent jump in third quarter profit. We speak to the CFO about the growing headwinds due to geopolitical tensions. In the autos sector, Italian-U.S Fiat Chrysler and French rival PSA are reportedly in talks to merge in a deal that would create a near 50 billion dollar car giant. And in the U.K., lawmakers back PM Johnson's call for a December 12th general election, in an effort to break the Brexit impasse.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5230/10/2019
SQUAWK BOX, TUESDAY 29TH OCTOBER, 2019
Strong earnings and hopes of a U.S.-China trade deal drive the S&P 500 to a fresh record high, while investors bet on a third rate cut from the Fed later this week. In tech, Alphabet shares fall in extended trade after Google’s parent company misses Q3 profit estimates, as rising costs outpace a strong performance in ad sales. In the U.K., Prime Minister Boris Johnson loses his third attempt to force a snap election but vows to try again, while the EU agrees to a 3-month Brexit delay. Commerzbank shares close higher, as the German lender beats expectations with a surprise jump in quarterly profit, in results released ahead of schedule. And finally, Euro Zone leaders praise Mario Draghi’s vision, as he prepares to hand over the reigns after 8 years at the helm of the ECB.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:4529/10/2019
SQUAWK BOX, MONDAY 28TH OCTOBER, 2019
Europe’s biggest bank HSBC warns of challenges ahead after reporting an 18 per cent plunge in third-quarter pre-tax profit. It missed expectations due to a weak performance in the European market but Chief Financial Officer Ewen Stevenson tells CNBC business in Asia is holding up despite the impact of the global trade disputes and unrest in Hong Kong. A 'mixed' picture for electronics group Philips in the third quarter, with margins still under pressure. CEO Frans van Houten tells CNBC the group moved too slowly to counter the effects of the U.S.-China trade war. LVMH goes after the little blue box in what could be the biggest M&A deal in Europe this year. The French luxury giant reportedly offered $14.5bn for U.S. jeweller Tiffany’s. In the latest Brexit development, Brussels is reportedly set to sign off on a three-month extension until January 31st, with the possibility of an earlier exit if U.K. Parliament ratifies the divorce deal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:2328/10/2019
SQUAWK BOX, FRIDAY 25TH OCTOBER, 2019
Market cap wipeout…Amazon shares fall sharply in after-hours trading as the e-commerce giant misses Q3 expectations for the first time in two years due to one-day shipping costs. The tech conglomerate has also predicted a weaker-than-expected holiday season this year. It’s also a busy day for earnings from across the board in Europe. The world’s biggest brewer AB Inbev lowers its guidance, warning that tough market conditions will continue for the rest of the year after missing profit expectations in the third quarter. Kering sees strong growth in the third quarter particularly in Asia, which helps off-set losses incurred due to the ongoing democratic crisis in Hong Kong. And in politics, sterling recovers losses following Prime Minister Boris Johnson’s push for a general election on December 12th in exchange for granting lawmakers more time to scrutinise his Brexit deal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0025/10/2019
SQUAWK BOX, THURSDAY 24TH OCTOBER, 2019
Farewell Frankfurt…ECB president Mario Draghi prepares his final press conference before stepping aside for Christine Lagarde amid a backdrop of negative rates and weakening data in the euro zone. We are live in Frankfurt to look at his legacy. In corporate news, Tesla shares soar more than 20 per cent following a surprise Q3 beat but Ford slides and cuts its full-year profit forecast, warning of a slowdown in China. There's a similar story in the German automotive sector, where Daimler cuts the revenue outlook for its trucks division. Nokia lowers both its 2019 and 2020 profit guidance as the Finnish telco warns tough competition is squeezing margins. It also halts its dividend as it ramps up investments in 5G amid battles with rivals.Meanwhile on Capitol Hill, Facebook founder Mark Zuckerberg is grilled by the House Financial Services Committee over his company’s planned entrance into the cryptocurrency market.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0324/10/2019
SQUAWK BOX, WEDNESDAY 23RD OCTOBER, 2019
Yes, but…U.K. lawmakers vote to approve Boris Johnson's Brexit deal, but reject a three-day timeframe to pass the bill, leaving it up to EU leaders to grant an extension to next week's October 31st deadline. We are live in Westminster and Brussels as both sides react to the latest stalemate. In China, plans are reportedly afoot to replace embattled Hong Kong CEO Carrie Lam following months of increasingly violent anti-government protests in the city state. ABB kicks off a busy earnings day for European blue-chips. The Swiss industrial group warns of weakening conditions in the U.S. and China, but sees net profit fall less than expected in the third quarter. We are also live in Frankfurt where Mario Draghi is set to oversee his final policy meeting as ECB president. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0323/10/2019
SQUAWK BOX, TUESDAY 22ND OCTOBER, 2019
Brexit block… House of Commons Speaker John Bercow denies Prime Minister Boris Johnson a straight yes or no meaningful vote on the Brexit deal he secured last week, saying that debating the motion would be ‘disruptive’. MPs will today debate the Withdrawal Bill being published by the government. In corporate news, Swiss lender UBS beats Q3 expectations on the bottom line but CEO Sergio Ermotti tells this channel that challenges persist for investment banking and wealth management. In the U.S., the S&P 500 falls short of its all-time high by just 1 per cent off the back of trade optimism and earnings. We also hear from Russia’s finance minister, Anton Siluanov, who tells CNBC that his country is not seeking to capitalise from damaged relations between Washington and Beijing. And in M&A news, this channel learns that Softbank is in talks to buy WeWork, valuing the workspace logistics provider at $7.5BN-8BN.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:4822/10/2019
SQUAWK BOX, MONDAY 21ST OCTOBER, 2019
Brexit Bedlam…sterling dips following U.K. MPs’ Saturday delay to a vote on the deal struck by Prime Minister Boris Johnson and Brussels last week. The EU has received a forced extension request from No.10 but Johnson remains steadfast and is preparing to table another vote to get the divorce agreement through Parliament and ensure the U.K. leaves the bloc by October 31st. Lebanon is paralysed by a fourth day of massive anti-government protests as Prime Minister Saad Hariri rushes to push through a raft of economic reforms in a bid to quell the unrest. We are live in Beirut for the latest. Meanwhile, at the IMF annual meetings in Washington, we hear exclusively from UBS chairman Axel Weber who warns that central banks are increasingly losing their way, with negative rates causing despair among European investors.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:3321/10/2019
SQUAWK BOX FRIDAY 18TH OCTOBER 2019
Boris scores a Brexit breakthrough in Brussels. We host a special Brexit Endgame edition of Squawk Box, live from London, Brussels and Belfast. It is now up to Prime Minister Johnson to convince MPs to pass the agreement during an extraordinary parliamentary session scheduled tomorrow in order for EU leaders to officially ratify the deal by October 31st. However, he faces pushback from Northern Ireland where the DUP says it cannot abide by Johnson’s proposals due to serious concerns over customs and tax regulations. Elsewhere, China's third-quarter GDP grows at its slowest pace in almost 30 years, as weak factory production and an ongoing trade war weigh on the world's second-largest economy. And in corporate news, French automaker Renault has slashed its full-year revenue and profit forecasts citing weak sales outside of Europe.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:4018/10/2019
SQUAWK BOX THURSDAY 17TH OCTOBER 2019
Down to the wire... The U.K. and EU press on with last-ditch talks to try and secure a Brexit deal to present to leaders in Brussels. However, Northern Ireland’s DUP dashes hopes saying it cannot back the current proposal. We are live in Brussels for the latest on this fast-moving story. In the U.S., retail sales slump for the first time in seven months, increasing economic jitters. But on the trade front, Treasury Secretary Steven Mnuchin says that negotiators are working on the draft of a ‘Phase One’ trade deal with counterparts in Beijing. In corporate news, Netflix surprises to the upside, winning more subscribers than expected, while Facebook tries to convince the market its cryptocurrency Libra will ‘overcome problems’ once regulatory issues are resolved.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1717/10/2019
SQUAWK BOX WEDNESDAY 16TH OCTOBER 2019
Burning the midnight oil – U.K. and EU negotiators hold talks in London and Brussels late into the night, appearing to edge closer to a last-minute withdrawal deal, but certain sticking points remain unresolved. In Hong Kong, vocal protests in the Legislative Council session itself force the territory’s Chief Executive Carrie Lam to deliver her policy address via video link. In Washington, the IMF warns that the U.S.-China trade war, a ‘synchronised’ global slowdown and ongoing geo-political uncertainty have prompted the fund to cut 2019 growth forecasts to the lowest level since the 2008 financial crisis. And on Wall Street JP Morgan soars after the lender smashes forecasts, but Goldman Sachs doesn’t fare as well, hit by losses from its investments in WeWork and Uber.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1316/10/2019
SQUAWK BOX TUESDAY 15TH OCTOBER 2019
Turkey gets sanctioned. The U.S. imposes immediate penalties on several Turkish ministers and slaps Ankara with a 50 per cent tariff on steel , demanding a halt to its military incursion into Kurdish-held northern Syria. We are live in Istanbul for the latest. U.S. stocks slip and oil prices extend losses as questions arise over the U.S.-China trade deal, despite U.S. Treasury Secretary Steven Mnuchin telling this channel that the first phase of the pact is ‘quite substantial’. China's September producer prices fall at their fastest pace in three years, while pork prices surge nearly 70 per cent pushing food prices higher. And it’s crunchtime for the U.K. and the EU. Brexit negotiators have battened down the hatches and entered so-called ‘tunnel talks’ ahead of a key summit later this week. The EU’s chief representative Michel Barnier says a deal this week remains possible.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24:5215/10/2019
SQUAWK BOX MONDAY 14TH OCTOBER 2019
Trade deal light – Asian stocks follow the U.S. into the green after a tentative truce is agreed between Washington and Beijing. President Trump hails the progress but critics suggest concessions have been made to China. Meanwhile, data reveals Chinese imports and exports fell more than expected in September. We are live from Westminster at the start of a crucial week for Brexit, after the UK and EU admit that a lot of work still needs to be done to reach a withdrawal agreement ahead of a key summit in Brussels. The Queen will outline the government’s plan in her speech at the state opening of parliament today. And in Syria, the U.S. pulls out its final troops from the north as a Turkish cross-border incursion rages. Humanitarian concerns over the operation have prompted President Trump to threaten Ankara with ‘powerful’ sanctions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0714/10/2019
SQUAWK BOX FRIDAY 11TH OCTOBER 2019
Trade deal optimism fuels a rally as high-level talks between the U.S. and China get underway and President Trump hails the progress ahead of a planned meeting with Chinese Vice-Premier Liu He later today. In the U.K., sterling jumps to a two-week high against the dollar after Irish Taoiseach Leo Varadkar said he saw a ‘pathway’ to a Brexit deal following positive talks with Prime Minister Boris Johnson. In corporate news, SAP CEO Bill McDermott announces his plans to step down following a decade at the helm of the German software titan. New co-CEO Jennifer Morgan tells CNBC that the time is right for a change of leadership. And luxury German fashion group Hugo Boss revises its full-year outlook for the second time this year citing weak U.S. sales and the ongoing anti-government protests rocking Hong Kong. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:1211/10/2019
SQUAWK BOX THURSDAY 10TH OCTOBER 2019
Tit-for-tat becomes tittle-tattle… conflicting messages plague the progress of the U.S.-China trade talks, set to resume today. Asian equities and U.S. futures hold steady after sources tell CNBC that reports talks have collapsed are false. But the Federal Reserve’s September meeting minutes show that trade war concerns continued to weigh on the minds of board members when they voted to cut rates last month. Turkey launches an incursion against Kurdish forces across Syria’s northern border after President Trump’s weekend decision to move U.S. troops out of the region. And in corporate news, luxury goods giant LVMH posts better-than-expected third-quarter numbers in Europe and the U.S. but also in Asia, despite the impact of the Hong Kong crisis.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25:0210/10/2019
SQUAWK BOX WEDNESDAY 9TH OCTOBER 2019
Restricted and blacklisted. Asian stocks dip following a sharp plunge on Wall Street after the U.S. administration slaps visa restrictions on Chinese officials for alleged human rights abuses of Xinjiang Uighurs ahead of trade talks tomorrow. The move comes one day after Washington blacklisted 20 Chinese entities, drawing a harsh response from Beijing, which has called on the U.S. to stop interfering in its affairs. Meanwhile, Federal Reserve chairman Jerome Powell says the Fed will grow its balance sheet but cautions that the move should not be confused with the large-scale quantitative easing the central bank resorted to after the financial crisis. In the U.K., the pound slides following suggestions by No.10 that Brexit talks with Brussels are on the verge of collapse. The Irish Taoiseach Leo Varadkar says a deal is highly unlikely ahead of next week’s EU leaders’ summit. We are live in Luxembourg for the Euro Zone finance ministers' meeting.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26:3309/10/2019
SQUAWK BOX, TUESDAY 8TH OCTOBER, 2019
The charm offensive ends. The Hong Kong Exchange drops its 39 billion dollar bid for the LSE, admitting it failed to convince the London bourse of its ‘strategically compelling’ vision. Asian stocks rise ahead of U.S.-China trade talks later this week, even as Washington blacklists more Chinese firms ahead of a new flashpoint between the two countries after an NBA official sends a tweet in support of the Hong Kong protesters, which is met with a cold response in China. In tech, Samsung beats estimates despite signaling a 56 percent fall in third-quarter profit, while guidance suggests a turnaround is on the way for memory chip prices. And further job cuts for Thyssenkrupp as it is set to reveal a restructuring plan with new CEO Martina Merz presenting her proposals at a leadership meeting today.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28:1208/10/2019