Squawk Box Europe Express

The UK and the EU have agreed to "go the extra mile" with Brexit trade talks, sending sterling higher. This, after Commission President Ursula von der Leyen and British Prime Minister Boris Johnson held a phone call on Sunday. The UK will revert to WTO trading rules if a deal isn't struck before December 31, while parliaments on both sides will also need to ratify any deal. Germany will go into a...

Prepare for a 'no-deal' Brexit - that's the warning from British Prime Minister Boris Johnson as Brussels adopts emergency measures to keep trade flowing if talks collapse. European leaders unlock €1.8 trillion in recovery funds after reaching a deal with Poland and Hungary. Shares in Airbnb double in their debut day of trade, at one point valuing the group at over $100 billion in the biggest U.S....

The Brexit dinner date fails to break the deadlock, as Britain's Boris Johnson and EU Commission chief Ursula von der Leyen give the two sides until Sunday to reach an agreement, sending sterling lower. European leaders are optimistic they can unlock €1.8 trillion in recovery funds after Germany strikes a deal with Hungary and Poland to overcome their differences on the bloc's budget.&nb...

UK Prime Minister Boris Johnson heads to Brussels for an evening dinner meeting with EC President Ursula Von Der Leyen in an attempt to break the Brexit deadlock. This, after London scrapped the law-breaking elements of the Internal Market Bill. In the U.S., equities see record highs while treasury yields sink to new lows. JPMorgan CEO Jamie Dimon tells CNBC that he wouldn’t touch treasuries “with...

Brexit talks are faltering once more with new demands from Brussels souring the mood in London. At the eleventh hour, France’s President Macron has reportedly intervened over fishing rights and state aid, sparking alarm in Downing Street. Oil prices surge as Opec+ comes to an agreement to relax output cuts in the New Year on an improved demand outlook following second-wave lockdowns. In the U.S.,...

President Trump is set to receive a bill to sign off on delisting certain Chinese companies from U.S. stock markets, following a House vote unanimously supporting the law. German travel firm Tui sees shares dip after receiving its third state bailout following mounting virus-related losses. In London, the FTSE closed sharply higher on improved sentiment around yesterday’s Pfizer/BioNtech vaccine a...

Highs on Wall Street, but deadlock in Washington DC. U.S. Senate majority leader Mitch McConnell rejects a bipartisan stimulus plan, while Treasury Secretary nominee Janet Yellen warns that failure to act will cause an “American tragedy”. U.S. AG William Barr has announced the DoJ has found no evidence of voter fraud in last month’s U.S. election. In corporate news, ARM CEO Simon Segars tells CNBC...

Unicredit CEO Jean-Pierre Mustier steps down after clashing with the Italian bank’s board over his restructuring plan and pressure to acquire Monte Dei Paschi Di Siena. OPEC members fail to reach an agreement on output which delays a meeting with other oil producers and pushes crude prices lower. Zoom shares dip in after-hours trading after the video app said that surging demand during lockdown ha...

Manufacturing activity in China soars to its fastest rate in three years and services PMI hits an 8-year high. Meanwhile, the White House is set to blacklist Chinese chipmaker SMIC and oil major CNOOC for alleged ties to the Chinese military. This, as Congress is also looking to vote to tighten rules on Chinese companies seeking a U.S. market listing. Black Friday numbers are in Stateside, with on...

Chinese industrial profits surge by almost 30 per cent in October as the manufacturing sector clocks its sixth consecutive month of growth since the pandemic. Hungary and Poland dig their heels in over ‘rule of law’ concerns to deny resolution over the EU budget and potentially delay recovery funds. Polish PM Mateusz Morawiecki warns member states they are threatening the break-up of the bloc. U.S...

U.S. markets see a Thanksgiving sell-off. Meanwhile, President-elect Biden’s call for people to observe Covid rules is met with a mass holiday travel getaway across the country. This, as rising jobless claims came in worse than expected. In Europe, ECB Vice-President Luis De Guindos has told CNBC that while bank profits on the Continent will be temporarily weak, the sector remains robust. UK marke...

The Dow breaks the 30,000-point barrier for the first time ever with the index set to enjoy its best month since 1987. President Trump calls it “a sacred number”. Meanwhile, President-elect Joe Biden tells NBC the White House is sincere in its transition efforts and that the transfer of power will continue smoothly. In France, President Macron warns citizens to do everything possible to avoid a th...

President Trump gives ground, agreeing to provide assistance to the Biden transition team by instructing a Federal agency to brief and fund the incoming administration. Dow futures jump on the news and the Russell 2000 small-cap index hits a new record high. Former Federal Reserve chair Janet Yellen is widely tipped to become the first female U.S. Treasury Secretary, while former U.S. Secretary of...

G20 leaders meet virtually and call for global, equitable access to vaccine programmes and continued economic support. Host Saudi Arabia has lauded the stimulus measures enacted by governments around the world. Vaccine optimism has U.S. futures pointing to the upside along with opening calls in Europe, this despite a surge in cases in the States. Germany may begin vaccine roll-outs as soon as Dece...

U.S. Treasury Secretary Steven Mnuchin calls for an end to certain virus support programmes, causing futures to dip. The Fed, however, pushes back against wrapping up business support measures. President-elect Joe Biden says he will name a new treasury secretary around Thanksgiving and vows not to lock down the economy. In Europe, Brexit negotiations are set to resume remotely after a member of th...

U.S equities close sharply in the red on the back of New York Mayor Bill De Blasio’s public school closures in response to rising Covid-19 cases in the city. This, as the overall Covid-related death toll in the U.S. reaches 250,000. JPMorgan CEO Jamie Dimon says continued caution is needed despite the news that the Pfizer-BioNtech vaccine deliveries could begin by Christmas. Meanwhile, global corp...

Wall Street closes in the red after disappointing retail sales in the U.S. renew calls for more fiscal support, with Democrats urging Republicans to return to the negotiating table. Legendary investor Masayoshi Son tells CNBC he is selling off Softbank assets to hoard cash in a bid to mitigate any Covid-related ‘worst-case scenario’. Facebook’s Mark Zuckerberg and Twitter’s Jack Dorsey appear...

The Dow hits a fresh record high after U.S. pharmaceutical company Moderna says its vaccine is 94 per cent effective. Travel shares react to the upside, while lockdown stocks such as Zoom and Netflix trade lower. President-elect Joe Biden urges a smooth transition of power to help contain the Coronavirus impact across the United States. In Brussels, Hungary and Poland veto the EU’s virus recovery...

A major trade deal in Asia drives the continent’s equities higher as fifteen countries in the region sign the world's largest agreement, a move labelled as a 'coup for Beijing'. The deal includes China, South Korea and Japan but not India or the U.S. For the first time, President Trump publicly admits Joe Biden won the election but refuses to concede, while the President-elect prepares to meet vac...

The S&P 500 loses most of the week's vaccine-based gains after Fed Chair Jerome Powell cautions on a quick return to pre-covid growth rates, while cases stateside hit another daily record. Central bank chiefs hail their joint response at a European Central Bank forum. ECB Executive Board member Isabel Schnabel tells CNBC exclusively that agility will be key for the second wave. And, NBC News p...

Tech stocks on the Nasdaq finally break the sell-off, ending higher while cyclicals lag and futures dip on both sides of the Atlantic. In China, e-commerce giant JD.com sees shares rally, shrugging off regulation concerns. We speak exclusively with CEO Xu Lei who says domestic demand is soaring. President-elect Biden has held bilateral calls with the leaders of Australia, Japan and South Korea as...

Tech companies are hit hard amid a rotation trade while under-loved lockdown stocks continue to make gains. Alibaba shares see red as the threat of fresh regulation from Beijing overshadows a Singles Day sales bonanza. CNBC hears exclusively from IBM chairwoman Ginni Rometty who welcomes Joe Biden’s U.S. election win and progress in obtaining a Covid-19 vaccine. And we also hear from Boston Federa...

The Dow rallies to its highest level since June after Pfizer and BioNTech   claim their vaccine candidate is over 90 percent effective. Travel and airline stocks particularly outperform. However, tech stocks plunge on the news with the Nasdaq seeing the widest trading range with other major markets since the dotcom bubble. US president-elect Joe Biden welcomes the news but remains cautio...

Joe Biden calls for unity during his first speech as president-elect. U.S. futures react positively as a result. President Trump, however, refuses to concede defeat and will challenge the legality of the election. Biden is reportedly planning to create a Covid-19 taskforce as infections across the U.S. hit new record daily levels. UK Prime Minister and the European Commission President Ursula Von...

The delayed result of the U.S. presidential election still hinges on several key states with vote-counting coming down to the wire. President Trump has doubled down on claims of electoral fraud by the Democrats, despite his campaign losing two legal challenges. The race in Georgia is virtually tied and Pennsylvania remains too close to call. Democrat candidate Joe Biden has urged for calm while ba...