Squawk Box Europe Express

Ukraine's President heads to Washington DC alongside European leaders for talks with Donald Trump today, with the U.S. President set to push for an end to the war — while the question remains: 'on whose terms?'. This as Friday's Alaska summit fails to yield an agreement — and leaves Kyiv fearing the U.S. could give way to Russia's terms after President Trump backtracks on his sanctions threat. Els...

All eyes are on Anchorage, Alaska, as the city prepares to host today's meeting between Donald Trump and Russia's Vladimir Putin, with the U.S. President saying he's already contemplating a second summit to bring in Ukraine's leadership. Meanwhile, a hotter-than-expected PPI print stateside pours cold water on outside hopes of a jumbo Fed cut in September, and sending yields higher. But markets in...

  The U.K. economy grows more than expected in the second quarter, offering some much-needed respite to Chancellor Rachel Reeves. President Trump holds productive talks with European leaders in the build up to Friday's Alaska summit, with the U.S. leader issuing a stark warning to Moscow if it does not agree to a peace deal in Ukraine. Meanwhile, Europe's Stoxx 600 hits a two-week high while...

The inflation impact of Trump's tariffs fails to show in July's CPI print, leading investors to ramp up bets on a September Fed cut, and pushing global equity markets higher. Meanwhile, European leaders prepare for today's virtual talks with Presidents Trump and Zelenskyy - calling on the U.S. leader to safeguard Ukrainian territory and not bow to Putin's demands at Friday's Alaska summit. Softwar...

The U.S. has extended its China tariff deadline by another 90 days, allowing talks to continue as Beijing pledges to hold off on further escalation. Meanwhile, President Trump has confirmed that the U.S. government will take a 15% cut off top chipmakers' China sales, and suggests he could allow Nvidia to begin exporting a downgraded version of its advanced Blackwell chip. Across the Atlantic, EU l...

Europe and Ukraine have set their own ceasefire terms ahead of Trump-Putin talks, while the White House reportedly weighs inviting Ukraine's President to Friday's Alaska summit. Meanwhile, European markets are poised to start the week on an upbeat note with the Stoxx 600 coming off its best weekly gains in 3 months, as investors brush off any remaining tariff uncertainty. In the chip space, Nvidia...

President Trump promotes CEA chair and tariff supporter Stephen Miran to the Fed’s board of governors praising his expertise in global economics. The STOXX 600 achieves its biggest one-day rise in almost two weeks with European corporate earnings offsetting any potential tariff fallout. Futures are also set to finish the week strongly. The BoE narrowly votes to slash interest rates to a two-year l...

President Trump’s reciprocal tariffs kick in. India is still facing the prospect of levies being raised to 50 per cent while Swiss President Karin Keller-Sutter leaves Washington after failing to lower her country’s 39 per cent tariff. Germany’s Rheinmetall sees sales grow by more than a third in H1 on increased demand across Europe. Siemens confirms its FY guidance with quarterly orders surging b...

President Trump warns he could escalate pharmaceutical tariffs to as high as 250 per cent with extra levies on chips also on the table. Trump tells our colleagues Stateside, he wants to force producers to bring manufacturing home. In Europe, Novo Nordisk sees a Q2 surge driven by strong sales of its anti-obesity drug Wegovy just a week after a profit warning reduced the drug maker’s market cap by...

U.S. equities rally, unfazed by tariffs and weak economic data as investors anticipate further rate cuts from the Federal Reserve. President Trump threatens to increase tariffs on India over its purchases of Russian oil. New Delhi hits back, saying it is protecting its own interests. German chip maker Infineon hikes its full-year margin forecast. CFO Sven Schneider tells CNBC that the impact of ta...

Swiss equity markets react for the first time since President Trump imposed a 39 per cent levy on the country last week. European markets look to bounce back following Friday’s sell-off which was their steepest one-day decline since April with more quarterly earnings due later this week. And in the U.S., markets anticipate a Fed rate revision at every meeting left this year following last week’s d...

President Trump launches his latest round of tariffs, hitting Canada and Switzerland with higher levies due to start in a week’s time. The dollar jumps on the move – its first monthly gain since Trump assumed office – while the euro and sterling slump to their respective worst months in 3 years. Daimler Trucks revises FY profits forecasts by what could be more than 20 per cent citing poor performa...

Meta ups its guidance on the back of a Q2 profits beat while Microsoft outperforms, growing revenue at its fastest pace in three years. In aviation news, Airbus confirms its delivery targets for the year despite engine supply delays from Pratt & Whitney. CEO Guillaume Faury tells our U.S. colleagues he is pleased about the trading environment following the U.S.-EU/UK deals. Asia-focused bank S...

Swiss lender UBS posts a Q2 net profit beat but CEO Sergio Ermotti tells CNBC that tariff ‘fatigue’ is beginning to affect client sentiment. Chinese and U.S. negotiators have failed to confirm a trade truce following 2 days of discussions in Stockholm. U.S. Treasury Secretary Scott Bessent speaks to our colleagues Stateside and says that any extended pause will be ultimately decided up on by Presi...

European leaders vent their frustration at the trade deal secured by U.S. President Donald Trump with the EU as details of the agreement begin to sink in around the bloc. Trump has said he will set tariffs in the 15-20 per cent range ahead of the Friday, 1st August global deadline. Philips hikes its guidance after concluding that Trump’s tariffs will affect profits less than previously expect...

U.S. President Donald Trump and European Commission President Ursula von Der Leyen announce a deal to avert a full-blown trade war but the EU will still be hit with tariffs of 15 per cent. European futures move higher on the news as investor sentiment stabilises ahead of the tariff deadline this Friday. Heineken posts an H1 beat and backs its FY forecast. See Privacy Policy at https://art19.com/pr...

President Trump tours renovations at the Federal Reserve and says costs have spiralled to $3.2bn at the site but Chairman Jerome Powell pushes back against the claims. LVMH suffers a larger-than-expected fall in Q2 sales as CEO Bernard Arnault announces plans to open a new factory in Texas. VW Group cuts its FY guidance following an almost-30 per cent plunge in operating profit in the second quart...

Tesla shares slump after CEO Elon Musk warns of potential ‘rough quarters’ ahead as EV subsidies expire and European sales nosedive by 40 per cent in June. Deutsche Bank sees profits double in H1 to €5.3bn on strong inflows to its private bank and asset banking arm. CFO James Von Moltke tells CNBC he believes the German economy is gaining in confidence. European futures are up as the EU and U.S. m...

The U.S. and Japan agree to what President Trump calls ‘the largest trade deal in history’. Tariffs on most goods including autos have been reduced to 15 per cent, sending shares spiking among car manufacturers. Italian lender Unicredit hikes its guidance following an unexpected profit jump in Q2 just a day after it abandoned its bid for smaller domestic rival Banco BPM. CEO Andrea Orcel tells CNB...

The White House maintains pressure on Federal Reserve Chairman Jerome Powell to cut interest rates but markets appear sanguine. The S&P 500 closes at a fresh record high while Treasury Secretary Scott Bessent tells our colleagues Stateside that he intends to investigate the Fed’s decision-making. Brussels is reportedly preparing a range of ‘nuclear options’ should the EU fail to agree a trade...

Japanese Prime Minister Shigeru Ishiba’s ruling coalition loses its majority in the upper house with rival parties advocating tax cuts and increased spending. U.S. Commerce Secretary Howard Lutnick says he believes an EU trade deal is feasible. However, reports suggest some EU leaders are considering harsher retaliatory moves should President Trump raise the baseline tariff rate. And in aviation n...

Netflix posts a Q2 beat on the back of strong subscriber growth and advertising sales and has hiked its revenue forecast. Shares move slightly down in after-hours trade, however, as investors brace for rising costs in H2. Federal Reserve governor Christopher Waller is urging a rate cut this month, citing growing weakness in the U.S. labor market. And in Japan, the ruling coalition could lose its u...

President Trump denies he plans to fire U.S. Federal Reserve Chairman Jerome Powell following reports he had written a draft dismissal letter and discussed the move with lawmakers. Trump did again, however, criticise Powell for his failure to lower interest rates. The world’s largest contract chip maker, TSMC, posts a massive 60 per cent surge in profits in the second quarter. Drug giant Novartis...

UK Chancellor Rachel Reeves gives her Mansion House speech and calls on regulators to strip back red tape in order to boost growth. In the U.S., the June inflation print comes in slightly higher as tariffs begin to affect the core CPI number with President Trump continuing to slam the Federal Reserve’s measures. In France, Prime Minister Francois Bayrou infuriates Marine Le Pen’s Rassemblemen...

Nvidia expects the green light from the U.S. government to resume selling a key AI chip in China with deliveries to begin soon. Domestic consumption drives Q2 growth in China but the threat of a trade war with the U.S. still looms. And U.S. President Trump u-turns on arms deliveries to Ukraine, including sending Patriot missiles and threatening Russia with secondary tariffs in the event of no ceas...