VIDEO3:4003:40Tsipras: No-deal Brexit damage 'will be huge and it will be for all of us'Squawk Box EuropeFormer Greek Prime Minister Alexis Tsipras warned on the contagion effects of a no-deal Brexit, saying that stronger economies in the EU were at a greater risk due to their close relationship with the U.K. Speaking to CNBC's Steve Sedgwick at the Ambrosetti Forum in Cernobbio, Italy, he said that a British exit without a formal deal should be avoided at all costs. "I think the damage will be huge and it will be for all of us. Of course for the U.K. and the U.K. citizens first of all, but not only for them," he said Saturday. "I think the huge damage will be if there is a no-deal Brexit for all the European member states and especially for the strong states, their economies are very connected with the U.K. economy." His words come after a pivotal week in British politics that has seen the ruling Conservative Party lose its majority in the House of Commons and new Prime..
Federal Reserve Chairman Jerome Powell said Friday that the trade war between China and the U.S. is weighing down companies' investment decisions. "I think it is the case that uncertainty around trade policy is causing some companies to hold back now on investment," Powell said in Switzerland. "We've been hearing quite a bit about uncertainty. So for businesses, to particularly make longer-term investments in plants or equipment or software, they want some certainty that the demand will be there." China and the U.S. have been engaged in a trade war that has rattled financial markets since last year. In August, an escalation between the two countries led U.S. equities to their biggest one-month loss since May. Tensions between China and the U.S. thawed slightly this week after Chinese trade officials said they would fly to Washington next month to continue negotiations. However, expectations of the two sides reaching a deal are low. The uncertainty around trade has contributed..
European markets closed slightly higher Friday, as investors monitored ongoing Brexit uncertainty and developments in the U.S.-China trade war. European Markets: FTSE, GDAXI, FCHI, IBEXThe pan-European Stoxx 600 closed up by around 0.25%, with most sectors and major bourses in positive territory. Looking at individual stocks, Britain's G4S surged toward the top of the European benchmark. It comes after Sky News reported Brink's — a U.S.-based cash handling giant — was plotting a bid to acquire its cash solution business. Shares of the world's largest security company jumped more than 6% on the news. Meanwhile, Norwegian telecoms firm Telenor tumbled toward the bottom of the index. Shares of the company fell nearly 4% after talks with Malaysia's Axiata about a potential joint venture ended without a deal. On the data front, the EU statistics agency Eurostat said Friday that euro zone growth halved in the second quarter of 2019. The reading, which confirmed earlier a..
China's President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on Nov. 9, 2017.Nicolas Asfouri | AFP | Getty ImagesThe world's two largest economies are "already in the early stages" of a second Cold War, according to Niall Ferguson, a senior fellow at the Hoover Institution at Stanford University. Speaking to CNBC's Steve Sedgwick at the Ambrosetti Forum in Italy on Friday, Ferguson said President Donald Trump was now in a position where he would be unable to prevent lasting damage to U.S.-China relations by de-escalating their protracted trade dispute. That's because the long-running trade conflict between Washington and Beijing was "not just about trade," Ferguson said. VIDEO3:1103:11US and China in the early stages of a second Cold War, academic saysSquawk Box EuropeInstead, it had become a multi-faceted dispute, concerning technological and geopolitical issues. "The good news is I don't thi..
British Prime Minister Boris Johnson welcomes Israeli Prime Minister Benjamin Netanyahu (not pictured) outside 10 Downing Street ahead of bilateral talks on 05 September 2019 in London, England.WIktor Szymanowicz | NurPhoto | Getty ImagesBritish Prime Minister Boris Johnson has lost his game of Brexit "chicken" with U.K. opposition parties and the European Union, according to Niall Ferguson, a senior fellow at the Hoover Institution at Stanford University. His comments come at a time of heightened political uncertainty in the U.K., with the new prime minister under immense pressure to deliver Brexit with 55 days to go before the country is scheduled to leave the European Union. When asked whether Boris Johnson and Dominic Cummings, the adviser behind the prime minister's high-stakes Brexit strategy, had overplayed their hand, Ferguson replied: "I think that they played a game of 'chicken,' not only with the Europeans but with their opponents in parliament and they lost."..
Huawei said the Kirin 990 processor will power its upcoming flagship smartphone called the Mate 30.