Britain's Prime Minister Boris Johnson speaks during Prime Minister's Questions session in the House of Commons in London, Britain September 4, 2019.Jessica Taylor | ©UK Parliament | ReutersU.K. Prime Minister Boris Johnson has lost a second bid to hold a snap election, making it more likely that he will have to ask the EU for an extension to the current Brexit deadline. Only 293 out of 650 lawmakers in the lower house of parliament supported the government's proposal — falling short of the two-thirds majority, or 434 votes, the government needed. The vote early Tuesday morning was the second time in a week that lawmakers turned down Johnson's request for an early election. Parliament has been suspended for five weeks and lawmakers will return on Oct. 14. Addressing the parliament after the result, Johnson said: "This government will not delay Brexit any further." He vowed that the government will "press on with negotiating a deal, while preparing to leave without o..
AT&T is the "most Republican of any publicly traded company," CNBC's Jim Cramer said on Monday. However, Cramer suggested that company executives' past support of GOP policies, such as business deregulation and tax cuts, does not seem to outweigh President Donald Trump's hatred of CNN. CNN was among the assets that came over to AT&T last year, after the telecommunications giant's $85 billion purchase of Time Warner. Just hours after Elliott Management on Monday revealed a $3.2 billion stake in AT&T, Trump tweeted that he hopes billionaire Paul Singer's shop can help CNN curb "Fake News." AT&T is "overt" with its conservative views, "yet CNN is what the president singles out," Cramer marveled on "Squawk on the Street." All the way back to the 2016 presidential race, predating AT&T's ownership of CNN, Trump has been accusing the news network as being part of the liberal mainstream media machine working against his interests. As a result, Trump vowed on the c..
VIDEO2:0802:08Labour leader's position on Brexit is 'incoherent,' Stephen Barclay saysSquawk Box EuropeThe U.K.'s Brexit secretary on Sunday insisted that ministers would follow ministerial code, in response to the question of whether Prime Minister Boris Johnson will break the law and defy parliament by pursuing a no-deal Brexit. The legal question is one that could rock the future of the British government — and one that if violated, could potentially land the prime minister in jail. Asked if the Johnson would defy the law, Stephen Barclay, Secretary of State for Exiting the European Union, refrained from offering a definitive answer, telling CNBC: "Well the ministerial code requires obeying the law … but the key issue is how do we deliver on the democratic results of the British people. This was the biggest vote in our country's history, people want to see this done." Parliament is expected to pass legislation Monday that would require the prime minister to ..
Christopher Warner and Ozo Jaculewicz helped build one of the top-performing funds of 2019 with an unconventional bet: Waste Connections. Waste Connections, a waste management company based in Canada, has the largest weight in the Wells Fargo Asset Management Discovery fund (WFDAX), which is managed by Warner and Jaculewicz. Their bet on Waste Connections panned out, with the stock gaining 23% this year. It has also led to massive gains for the fund's investors in 2019. The four-star rated fund is up 34.9% this year and is outperforming 97% of the funds in its category, according to Morningstar. The fund — which has $2.6 billion in assets — has also been on fire relative to the S&P 500, which is up 18.7% in 2019. "The way we manage the portfolio and the way we think about things is we like balance and sales," said Warner, one of the fund's co-managers. "We're growth managers but we like a balanced portfolio so we can do well in different market environments." Connor You..
VIDEO1:4201:42It's 'more than about time' for Brexit clarity, Eurogroup chief saysSquawk Box EuropeThe chief of the euro zone's group of finance ministers is calling on Westminster to sort itself out for the good of both sides of the Channel, and does not see the Brexit deal 'progress' that U.K. Prime Minister Boris Johnson has been touting, he told CNBC on Saturday. "[Brexit] is a structural change — I feel it economically, socially and politically — and we must allow all sorts of economic agents to adapt to it and we have been doing the contrary," Eurogroup President Mario Centeno told CNBC's Steve Sedgwick at the Ambrosetti Forum in Cernobbio, Italy. "So I think it's more than about time to bring clarity into this process, whatever the way out of this political crisis." Johnson's administration has taken four defeating blows over the course of 48 hours in the last week as lawmakers from across parties joined forces to prevent an early sna..
VIDEO2:0202:02Germany's Kukies: We've taken substantial measures to strengthen domestic demandSquawk Box EuropeGermany isn't about to make use of its robust balance sheet to boost spending despite concerns over a growth slowdown, its deputy finance minister told CNBC Saturday. Speaking to CNBC's Steve Sedgwick at the Ambrosetti Forum in Cernobbio, Italy, Jörg Kukies made it clear that Europe's largest economy will continue to prioritize a balanced budget over fiscal stimulus, even amid warnings of potential recession. "No matter how nice the sun and the weather is here, you won't hear a different answer from me than to tell you that the position of the German government is fiscal soundness," Kukies said, in response to prodding about the need for greater spending amid weakening economic data. Germany's annual growth rate slowed to 0.4% in the second quarter from 0.9% in the first, Reuters reported in August. The country's industrial production in..