CNBC’s Squawk Box is a morning business-news show anchored by Joe Kernen, Becky Quick, and Andrew Ross Sorkin, delivering markets, policy and corporate headlines as the day begins.
The Guardian, CNBC and other outlets report on post-election economic conditions. UK growth remains sluggish while policies under Labour’s administration meet mixed reception. Inflation has cooled but remains elevated; deficits persist as taxpayers recalibrate expectations and government priorities.
The deal to access Iranian frozen funds via a US-controlled mechanism is evolving. Washington has proposed incremental payouts while Tehran demands autonomy over the funds, with Qatar hosting discussions and envoys in play. The White House seeks to delay broader commitments as lawmakers scrutinise costs and oversight.
The Scotland 500 shows private equity now owns nearly 60% of listed Scottish firms, underscoring international investor interest in Scotland’s traditional sectors evolving into high-growth businesses. Origo and Vespa Capital are highlighted as unicorn ambitions, while BR-DGE expands beyond gaming to enterprise payments.
OpenAI has said its unreleased model Astra may have reached a "Critical" capability for autonomous cyberattacks and has paused internal activities that do not meet heightened safeguards. The company has implemented isolated testing, universal monitoring for risky actions, and is working with government agencies and safety organisations to evaluate Astra's abilities.
The central bank has kept the policy rate steady, citing price stability and a steady growth outlook amid global risks. Domestic growth remains solid, while inflation remains within the target band despite recent upticks.
The Bank of England has kept Bank Rate at 3.75% in a split MPC vote as rising energy prices linked to Middle East tensions threaten inflation. Six members vote to hold, three call for a hike to 4%. Inflation is expected to rise later this year before easing toward the target.
Amazon has disclosed a $600 million tariff refund in Q2 after a Supreme Court ruling found Trump-era tariffs illegal. The refunds, largely benefiting customers, will be issued automatically where specific charges can be traced. Most refunds will go to affected buyers, with third-party sellers absorbing the bulk of the levies.
Global stocks have rallied this month after officials reported progress in talks to reopen the Strait of Hormuz, and a string of strong corporate earnings has bolstered investor sentiment. Treasuries and oil prices have fallen as traders pare back expectations for near-term Fed hikes; strategists warn valuations and one-off earnings boosts limit further upside.
Fed dissenters argue inflation remains too high and supply shocks persist; they advocate a series of small rate increases to curb inflation, while the majority holds rates steady. The coming months will test whether this hawkish push gains traction.
The Federal Reserve has kept the benchmark rate steady in a nine-to-three vote, amid persistent inflation above the 2% goal. Dissenters argue for earlier tightening, while others urge patience; investors await July inflation data to gauge the path for policy.