Squawk Box Europe Express

End of an era… UK travel company Thomas Cook collapses, sparking the biggest peacetime repatriation of British citizens in history. We have the latest from the chair of the Civil Aviation Authority. Oil prices surge as the U.S. sends additional troops to the Gulf further heightening tensions with Iran. We hear exclusively from Saudi foreign minister Adel bin Ahmed Al-Jubeir, who calls Te...

The world’s top money managers and policymakers talk to CNBC at the exclusive Delivering Alpha conference. Vice-President Mike Pence tells CNBC that he hopes for a U.S.-China trade deal to come into fruition, but the days of U.S. economic surrender are over, as deputy-level talks resume in Washington. Hedge fund giants and asset management bosses like Leon Cooperman, Luke Ellis and Mary Callahan E...

Blurred vision…Federal Reserve President Jerome Powell cuts rates by 25bps for only the second time in a decade. However, the central bank takes a more hawkish stance than markets expected and fails to give clear direction on future policy, revealing increasing divisions on the board. President Trump once again slams the Fed for its opacity and ‘lack of guts’. Over in Japan, the BoJ keeps rates st...

“Like a phoenix from the ashes” - Saudi energy minister Abdulaziz bin Salman seeks to calm oil markets, saying the kingdom's supply will be fully back online by the end of the month. We are live in Jeddah as crude oil extends its losses on the back of the Saudi government's assurances following the Aramco attacks. U.S. stocks rise ahead of a widely anticipated 25 basis-point cut in...

The Saudi strikes lead to an oil shock for the global economy. Crude prices trim gains after Brent has its best day on record following the attacks on Saudi Aramco's facilities. President Trump says Iran looks to be the likely culprit but plays down the prospect of armed conflict, saying he is in no rush to respond. He also hinted that the move in energy assets is reason enough for the Federal Res...

Strike on Saudi Arabia… Crude prices surge after attacks shut down two of Saudi Arabia’s largest energy facilities, slashing the kingdom’s output by half. Washington blames Iran for the incident but Tehran has denied any involvement. President Trump tweets the U.S. is ‘locked and loaded’ depending on the verification of the culprit, while also authorising the release of American petroleum reserves...

Draghi delivers…global stocks move into the green with the Dow hitting a record high after outgoing ECB President Mario Draghi offers the euro zone a sweeping stimulus package featuring a rate cut and a new bond-buying programme. EU commissioner Valdis Dombrovskis responds to Draghi’s call for fiscal action, telling CNBC it will be discussed by European finance ministers in Helsinki. Investors wil...

A gesture of goodwill…Asian equities are in the green after President Trump decides to delay tariffs on $250bn of Chinese goods as the People’s Republic celebrates its 70th anniversary. Beijing responds in kind by waiving levies on several American products. But the real action is in Frankfurt, where Mario Draghi is expected to fire his big parting shot. The ECB is widely expect to cut the de...

The highly-charged ECB watch begins. Asian equity markets and bond yields rise with investors focused on what Mario Draghi will deliver in his final rate-setting meeting before leaving the presidency in Frankfurt. Expectations are high with analysts forecasting more QE, a cut to the deposit rate, tiering, fresh TLTRO loans and dovish forward guidance. Apple unveils its latest smartphone incar...

Swings and roundabouts… easing trade tensions help drive the Dow to a four-day winning streak but Chinese markets tick lower following last month’s producer data marking its steepest decline in three years. In Berlin, rumours of a shadow budget to circumvent national spending laws push Bund yields to a one-month high. In Brexit news, we hear exclusively from Irish finance minister Paschal Donohoe,...

Brexit bedlam…Prime Minister Boris Johnson suffers another cabinet resignation over his government’s no-deal stance but Brexit secretary Stephen Barclay tells CNBC exclusively that efforts to secure a deal with the EU are in progress. Asian stocks rally on the news that Beijing is stimulating the Chinese economy with a RRR-cut as export figures prove the trade war with Washington is beginning to b...

It’s good to talk…the U.S. and China agree to resume trade negotiations, prompting the Dow to surge by more than 350 points – its best day in three weeks. The news also sparks hope across Asian markets ahead of U.S. jobs reports but Fitch downgrades the Hang Seng after months of violence across the Hong Kong Special Administrative Region. We are live in Westminster for the latest on Brexit where P...

Boris blocked. Conservative Party rebels and opposition lawmakers deliver U.K. Prime Minister Johnson a double defeat in the House of Commons, taking a no-deal Brexit off the table and also refusing to allow him to call a snap general election. We are live from Westminster with the latest. In Asia, markets rally on confirmation from the Chinese commerce ministry that trade talks between Washington...

Chaos in the Commons. Conservative Party rebels aid opposition lawmakers to defeat the U.K. government in a vote to block a no-deal Brexit in October but a defiant Prime Minister Boris Johnson says he’ll seek an early election should he lose today’s vote on the bill. We are live in Westminster for the latest. In the U.S., markets close in the red after the first day of trading following the Labor...

U.K. Prime Minister Boris Johnson lays down the gauntlet to his Brexit opponents, asking them to back the government or risk a snap general election in October if they block a no-deal Brexit in Parliament later today. We are live from Westminster as Sterling hovers around levels not seen in two-and-a-half years. Beijing launches a formal complaint against the U.S. at the WTO over its latest round...

A new phase in the trade war. Washington slaps a fresh 15 per cent levy onto a range of Chinese goods while Beijing retaliates by imposing a 5 per cent tariff on U.S. crude oil. President Trump, however, is upbeat about talks later this month. Hong Kong sees a 13th consecutive weekend of pro-democracy protests with many turning violent. Demonstrators clashed with police, blocking roads and di...

It’s the end of the month with stocks finishing in the green amid signs that U.S.-China trade tensions have cooled somewhat. This, despite fresh tariffs on Chinese goods coming into effect on 1st September. We are live in Rome where former Prime Minister and PD leader Matteo Renzi tells CNBC exclusively that he refuses to play a part in the new coalition government because of personal issues with...

There are extraordinary political developments afoot across Europe. The pound slides on news that the Queen approves Prime Minister Boris Johnson’s request to prorogue parliament for up to five weeks, greatly increasing the chance of a no-deal Brexit. The move leaves opposition parties and Remain supporters outraged with critics slamming the PM’s actions as anti-democratic. However, Johnson remain...

Tumbling yields weigh on U.S. markets with all three major indices finishing in the red and set to break a two-month winning streak. Recession fears remain with the 10-year yield versus the two-year rate dropping to its lowest level since before the financial crisis. In Rome, the 10-year yield falls to a new three-year low off the back of constructive coalition talks between PD and Five Star. Ther...

Global markets surge on fresh hopes of a resolution in the trade dispute between Washington and Beijing after President Trump says that China is ready to agree a deal, backing up his tough style of negotiation. We are live at the G7 in Biarritz, France where host President Emmanuel Macron has said he was willing to broker a pact between the U.S. and Iran over nuclear tensions following suggestions...

Markets dive first thing this morning as China ups the ante in the trade dispute with Washington, slapping tariffs onto $75bn worth of U.S. goods. President Trump has hit straight back, however, demanding that American manufacturers seek out alternatives to Chinese markets but he left observers confused by comments hinting that he may have regretted escalating the trade war. We are live at the G7...

It’s all about the Fed. Investors around the world are on tenterhooks as they await a speech from Federal Reserve chairman Jerome Powell at the Jackson Hole symposium, which could send strong signals on the outlook for U.S. monetary policy. Two Fed presidents tell CNBC that they don’t see a case for further interest rate cuts in 2019. This side of the Atlantic, sterling enjoys its best day in almo...

Divisions within the Federal Reserve are exposed in the latest minutes, as policy-makers suggest that July’s rate cut does not signal a pre-set easing cycle. The central bank cites the trade tensions with China as a ‘persistent headwind to growth’. Meanwhile, the U.S. yield curve inverts once more on nagging recession concerns but President Donald Trump deflects attention to Germany, hailing its n...

Instability in Italy. We’re live in Rome where Prime Minister Giuseppe Conte resigns with a scathing attack on interior minister Matteo Salvini whom he accuses of political opportunism. We discuss the next steps to form a new government with an Italian senator and assess the bond market reaction, as investors take a sanguine view on the crisis. Over in the U.S., the Dow breaks its 3-day streak aft...

The Wall Street rebound is on. U.S. stocks nearly wipe out all of last week's major losses, with the Dow managing to reach an intra-day high just 5 per cent below its all-time record. In Asia, stocks edge higher as the PBOC sets its new lending reference slightly lower on its first day and Washington grants Huawei a 90-day extension of its sales permit but simultaneously adds more affiliate c...