CNBC's Jim Cramer said on Friday that WeWork should pull its embattled initial public offering because the negative sentiment around slashing its valuation could be contagious in the overall stock market. "Stop the WeWork deal," Cramer said on "Squawk Box." "We don't want that deal. I just wish they would go away." Despite a number of a setbacks, including a dramatic cut in its valuation, the office-sharing start up said it's full speed ahead, with sources telling CNBC the IPO roadshow could kick off as soon as Monday. "I don't want WeWork at any price," Cramer said. "There are certain deals that can come and they can just really take the air out of any market." WeWork's plans to move forward despite the reported advice from its major investor SoftBank, which will likely face a multibillion dollar write down if the company debuts at a valuation between $15 billion and $20 billion. SoftBank invested $2 billion in WeWork in January at a valuation of $47 billion. ..
VIDEO0:2300:23Germany one of countries where slowdown most pronounced, EU's Dombrovskis saysStreet Signs EuropeHELSINKI, FINLAND — The German government should now look to ease its rules on fiscal spending in an effort to bolster its flagging economy, Valdis Dombrovskis, a vice-president of the European Commission, told CNBC Friday. "Germany currently is one of the countries where this (economic) slowdown is most pronounced. From that point of view, we think that indeed now it's (a) very appropriate moment for Germany to look at possibilities to have this fiscal stimulus," Dombrovskis said in Helsinki, Finland, ahead of a meeting with the 19 finance ministers of the euro zone. The topic of Germany's spending, or lack of it, has come to the fore this summer as its economy has slipped near recessionary territory. European Central Bank (ECB) President Mario Draghi said Thursday that it was "time for fiscal policy to take charge" in a subtle hint to Germany and other nations..
VIDEO2:4902:49No deal Brexit would improve living standards, JD Wetherspoon chairman saysSquawk Box EuropeThe founder and chairman of JD Wetherspoon believes "it is almost sacrilege" to find that the most popular drink orders in one of Britain's biggest pub groups are non-alcoholic. Speaking to CNBC's "Squawk Box Europe" on Friday, JD Wetherspoon's Tim Martin said pubs were having to adapt to a rise of coffee shops and restaurants in the last three decades. British pubs "used to have their own nice little monopoly," he said, but changing trends — such as younger people consuming less alcohol — had forced pubs to offer more variety to their consumers. "Millennials are drinking less. So, our number one draft product is Pepsi cola — which is almost sacrilege. And, we sell more coffee and tea combined, which isn't a draft product, than Pepsi," Martin said. "So, that's one of the trends that you are seeing. More variety is required as well … but I would say far more..
VIDEO4:0304:03UK must propose solutions if it needs more time for Brexit deal, Finnish PM saysCNBC TVHELSINKI, FINLAND – A no-deal Brexit looks likely, Finland's Prime Minister Antti Rinne told CNBC Friday, though he is still hopeful that both sides of the English Channel will have good relations going forward. The U.K.'s departure from the European Union is a constant source of concern for European leaders as the exit date approaches without any clear agreement on future relations. In such a scenario, and without being granted further time beyond the October 31 deadline, there would be a no-deal Brexit – meaning trade would immediately be done with higher tariffs imposed by both sides. When asked about the probability of a no-deal Brexit, Antti Rinne told CNBC: "I will say that now it seems that it's going to happen, and we need to accept that it's going to happen, but I hope that we can reach a situation where we can together, with British and EU27, to create a be..
Mario Draghi, president of the European Central Bank.Getty ImagesThe European Central Bank (ECB) and its outgoing President Mario Draghi are caught in a "Catch 22": The market is expecting so much stimulus on Thursday that it seems almost impossible to surprise on the upside. The economy is showing further signs of weakness, the inflation rate is not picking up and the U.S.-China trade war has no real end in sight. So what will the ECB do? "We still think that Mr Draghi will muster a sufficient majority in the Governing Council to push through a package that will include rate cuts as well as a restart of the asset purchase program," Dirk Schumacher, an ECB watcher with Natixis, said in a note to clients. The meeting comes as some ECB hawks in recent weeks have been trying to downplay the chances of a huge stimulus package. "There is, judging from (the) latest comments coming out of the Governing Council, no clear consensus within the Governing Council regarding the size and scope of po..
VIDEO2:5702:57Wall Street watches for more hints of US-China trade deal—Three experts break down what's nextTrading NationSeveral market moving events unfolded between the close of U.S. stock markets on Wednesday and the open on Thursday. As a result, the Dow Jones Industrial Average and the S&P 500 both came close to record highs on Thursday. Here's what investors need to know. Delayed tariffsStock futures climbed Wednesday evening after President Donald Trump announced he would be delaying the planned increase of tariffs on Chinese goods by 15 days, as a "gesture of good will." The tariffs are set to increase to 30% from 25% on about $250 billion worth of Chinese goods. Treasury Secretary Steven Mnuchin told CNBC on Thursday morning that the president "could do a deal any time" with China but won't until "it's a good deal." "The president delayed it because of a request from the vice premier," Mnuchin added. He clarified that China's Vice Premier Liu He made ..