The NYC MTA is low on ridership and on revenue, but Chair and CEO Janno Lieber says he has a plan to boost both and restore trust in the safety of public transit. The Big Ten has sealed its 7 year, $7 billion TV deal, marking the biggest annual deal for any college sports league. Sports business executive George Pyne unpacks the giant payout and what it means for the league’s student players. Plus, the Bed Bath & Beyond carnage keeps coming for the company and its traders, and Starbucks has ...
Aug 19, 2022•30 min
After internally reviewing its own response to the covid-19 pandemic, the CDC has concluded, there’s room for the agency to improve. Director Rochelle Walensky has announced her plan to restructure the CDC , and in so doing to improve future responses and to rebuild public trust in the organization. Dr. Scott Gottlieb examines the road ahead for the CDC and Washington’s role in improving it. While Wall Street and Twitter still reel from the latest Elon Musk antics, biographer and Tulane professo...
Aug 18, 2022•32 min
Bed Bath & Beyond, AMC, and Gamestop are all swept up in a revival of meme stock trading ; tastytrade founder and Co-CEO Tom Sosnoff discusses the recent meme stock surges. After President Biden signed the Inflation Reduction Act into law, Director of the White House National Economic Council Brian Deese shares the intended impact of the legislation for Americans’ health care costs and greener living. Also in politics, Liz Cheney is considering her next move in her mission to support disillu...
Aug 17, 2022•32 min
: Walmart reported better than expected earnings this quarter, but its profits are still under pressure. CNBC’s Courtney Reagan and Refinitiv’s Jharonne Martis examine the report and what it reveals about inflation and today’s consumers. The U.S. education system is short hundreds of thousands of teachers and support staff, according to estimates. President of Purdue University Mitch Daniels discusses why, after teaching through a global pandemic, many educators have left the profession, and few...
Aug 16, 2022•33 min
Markets are looking less and less like a recession, according to CNBC’s senior economics reporter Steve Liesman. He, Mike Santoli, and Becky Quick explain the rebound in stocks and in jobs data that has assuaged many investor concerns. Former FDA Commissioner Dr. Scott Gottlieb offers a rundown of the latest health news, including the recent discovery of polio in New York City sewage , the CDC’s updated covid guidelines, and national vaccination rates for both viruses. CNBC’s Eamon Javers report...
Aug 15, 2022•25 min
As the House prepares for a vote on the Inflation Reduction Act, Representative French Hill (R-AR) discusses the pivotal 15% tax on large corporations as well as the 1% excise tax on corporate buybacks . While Rep. Hill will likely vote against the legislation in part because of these proposed changes to the tax code, billionaire investor Mark Cuban calls into the show with a different perspective. For ordinary investors and for companies, the Mavericks owner and entrepreneur says, “Dividends be...
Aug 12, 2022•19 min
Disney is raking in streaming subscribers, but it’s still hiking the price for Disney+ . Gas prices may be on the decline , but inflation is still front and center for the Federal Reserve and Wall Street investors; CNBC’s Steve Liesman breaks down the market’s reaction to the latest inflation data, and political strategist and pollster Frank Luntz offers a rhetorical analysis for President Biden’s comments on inflation to the American people. Then, we zoom out: Mohamed El-Erian, Allianz and Gram...
Aug 11, 2022•29 min
Elon Musk sold nearly $7 billion worth of Tesla shares, just in case the courts mandate he follow through with his deal to buy Twitter. As a part of the Inflation Reduction Act the IRS will receive an $80 billion investment , but Sen. Tim Scott (R- SC) says it won’t help inflation, and it will unfairly impact the average American. The author of “America: A Redemption Story” shares his personal American story and details why he voted against the bill in the Senate. And layoffs could be coming to ...
Aug 10, 2022•29 min
The FBI searched Mar-a-Lago , former President Donald Trump’s resort home in Palm Beach, Florida, escalating federal law enforcement scrutiny on Trump and sparking drama on both sides of the political aisle. CNBC’s Eamon Javers breaks down the unprecedented action by the FBI in search of classified National Archives-related materials. President Biden signed the bipartisan CHIPS act into law today, marking a huge win for the semiconductor industry and directing tens of billions of dollars towards...
Aug 09, 2022•23 min
In a tight vote after a weekend vote-a-rama, the Senate passed the Inflation Reduction Act , sending the legislation to the House. Brian Sullivan and Ylan Mui discuss the climate, health care, and tax bill as a “zombified” Build Back Better bill, and White House CEA member Jared Bernstein explains how the Democratic party envisions its impact on inflation, American families, and corporate players. Plus, workers are returning to the office en masse–or are they? Harvard Business School professor T...
Aug 08, 2022•29 min
President Biden is set to sign the Chips and Science Act, aimed to support US semiconductor manufacturing. Senator Maria Cantwell (D-WA) discusses the bipartisan effort to boost US competitiveness with China and other major chips producers. Also in Washington, Senator Kyrsten Sinema (D-AZ) has finally signed off on the Inflation Reduction Act, the Democrats’ reconciliation bill that includes hundreds of billions of dollars in spending on climate, health care initiatives. CNBC’s Ylan Mui reports ...
Aug 05, 2022•39 min
Gas prices may have peaked for now, but the road to lower inflation is long. Transportation Secretary Pete Buttigieg discusses the U.S. energy economy and the giant inflation reduction act crafted by Senate Democrats. Pro golfer Phil Mickelson and ten of his co-competitors have filed an antitrust lawsuit against the PGA after their participation in the Saudi-backed LIV tournament prompted suspensions from the PGA Tour. Tom Cruise’s performance in “Top Gun” impressed audiences, but not enough to ...
Aug 04, 2022•28 min
St. Louis Fed President James Bullard says, with labor growth as strong as it’s been, it’s unlikely we’ve been in a recession–and we might have brighter economic days to come. In an extended interview, voting FOMC member Bullard discusses America’s path out of inflation, GDP growth in the second half of the year, and geopolitical and global health impacts on our economy. CNBC’s Beijing Bureau Chief Eunice Yoon reports on China’s response to House Speaker Nancy Pelosi’s contentious trip to Taiwan...
Aug 03, 2022•33 min
In our continuing coverage of the lawsuit against Pornhub parent MindGeek and Visa, hedge fund investor and Pershing Square billionaire Bill Ackman discusses the next steps he expects Visa and other credit card companies to take to ensure that their tools are not being used for harm. Founder and CEO of the Justice Defense Fund Laila Mickelwait shares how many victims of non-consensual and underage pornography have come forward since the suit was filed. Ackman also weighs in on the recession deba...
Aug 02, 2022•42 min
A district judge has denied Visa’s motion to be removed from a lawsuit against MindGeek, Pornhub’s owner. The judge upheld the legitimacy of the plaintiff’s allegation that Visa “knowingly” provided the tool for the site to monetize child pornography. Micheal Bowe, the lead attorney for the plaintiff, discusses suit against MindGeek, the fallout for Visa, and the precedent this case could set for all credit card companies. The Ford Foundation is marking five years since investing $1 billion from...
Aug 01, 2022•34 min
As the Saudi-backed LIV Golf tournament begins, fans and athletes debate whether pros can simultaneously condemn human rights violations in Saudi Arabia and accept the Kingdom’s prize money. President of LIV Golf Atul Khosla tells CNBC’s Dominic Chu that it’s no different from a private equity fund’s commercial investment: just business. NYT foreign affairs op-ed columnist and author Tom Friedman discusses the geopolitics on New Jersey’s Bedmin green as well as other global headlines. He comment...
Jul 29, 2022•28 min
The Federal Reserve has once again hiked interest rates by 0.75% , but the markets breathed a sigh of relief at the central bank’s signal that the peak hikes might be behind us. Today’s GDP data revealed a second consecutive quarter of contraction in the US economy, which traditionally would constitute a recession; however, Fed Chair Jay Powell does not believe our country to be in a recession, despite the data. He, President Biden, Treasury Secretary Janet Yellen, and other economists are consi...
Jul 28, 2022•26 min
Microsoft and Alphabet both missed analyst expectations in quarterly financial results, pointing to “uncertainty” ahead. Investors were buoyed by certain metrics , though, and Wall Street anxiously awaits the rest of tech’s earnings results. Despite Walmart’s warning to the Street and inflation pressures on the consumer, Visa execs have assured investors that the company hasn’t seen any sign of a spending slowdown. Disney has announced that Hulu will begin accepting political issue ads in additi...
Jul 27, 2022•24 min
Walmart has issued a dire warning to Wall Street, sending share prices of other retailers lower after cutting its profit outlook. Congress aims to move on U.S. chip manufacturing legislation this week. Senator Todd Young (R-IN) discusses moving the industry to the country’s heartland in the name of national security. Washington lawmakers are aiming to make it easier for consumers to use cryptocurrency in everyday purchases; Ylan Mui reports on plans for a future without a bitcoin capital gains t...
Jul 26, 2022•25 min
The U.S. economy may see two consecutive quarters of GDP contraction, but the White House isn’t ready to call it a recession . Whatever we call it though, today’s economic and political environment has pushed Americans to an unhappy place; host of ‘The Art of Happiness’ podcast Arthur Brooks says, both sides of the aisle are to blame. Brooks, also a Harvard professor and contributor for The Atlantic, discusses the loss of faith in capitalism and in America herself, and whether we’ll ever get bac...
Jul 25, 2022•28 min
President Biden has tested positive for covid-19 , and the White House has shared his prognosis and treatment. Former FDA Commissioner Dr. Scott Gottlieb discusses the President’s health status, Paxlovid, and how pockets of unvaccinated communities could have prompted America’s first case of polio in ten years . FedEx is delivering a big change for customers, and American Express has scored points for shareholders with its impressive Q2 report. Plus, the Squawk Box segment that went viral! Aureu...
Jul 22, 2022•25 min
Consumers are taking longer to pay their bills , says AT&T CEO John Stankey. In an extended interview, Stankey discusses the pulse of the American consumer, as well as his company’s renewed focus on 5G and smart devices after the company spun-off its content business, WarnerMedia. In a surprise decision, the European Central Bank has raised interest rates for the first time in over a decade; CNBC’s Steve Liesman, Joe Kernen, Becky Quick, and Andrew Ross Sorkin explain the significance of the...
Jul 21, 2022•30 min
The Nord Stream 1 pipeline, the main route for Russian energy passage to the rest of Europe, is set to start functioning again on Thursday, but EU leaders are concerned that the Kremlin won’t restart flows , especially after the majority state-owned energy giant Gazprom originally cut flows to 40% and is now suggesting that it cannot fulfill its energy contracts with the EU, even if the pipeline reopens as planned. Europe’s energy turmoil could spell bigger supply and cost problems in the U.S.; ...
Jul 20, 2022•31 min
Johnson & Johnson beat analysts’ estimates on the strength of its pharmaceuticals unit despite the company cutting its profit forecast due to a stronger dollar. CFO Joseph Wolk blamed the forecast cut on currency fluctuations, pointing to the parity between the euro and the dollar. As the job market starts to cool down and companies begin to look for ways to save with a possible recession on the horizon, there is a renewed return-to-office debate. CNBC’s Hugh Son reports on slowed hiring at ...
Jul 19, 2022•33 min
In this episode: Amos Hochstein, @amoshochstein Claire Atkinson, @claireatki Matt Belloni, @MattBelloni Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising....
Jul 18, 2022•31 min
The U.S. Congress is set to go on August recess, but Intel CEO Pat Gelsinger has a tough message for them before they go: pass the CHIPS Act , ASAP. America’s manufacturing industry has been waiting on government funding to produce tech’s all-important semiconductors for over a year, and Gelsinger says, it’s a matter of national security. We track the holdup in DC, the impact it’s having on job creation in America’s heartland , and the global chips supply chain. Plus, the USD is nearly at parity...
Jul 15, 2022•25 min
In this episode: Sara Fischer, @sarafischer Frank Luntz, @FrankLuntz Dom Chu, @TheDomino Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising....
Jul 14, 2022•29 min
Inflation jumped 9.1% to a new 40-year high in June . CNBC’s Steve Liesman, Rick Santelli, and Mike Santoli unpack what today’s Consumer Price Index data means for the Federal Reserve and for consumer wallets. As a crypto winter puts serious pressure on the industry, some crypto lenders are collapsing. BlockFi found a lifeboat in crypto exchange FTX ; in a CNBC-exclusive interview, BlockFi CEO Zac Prince explains why he discounted his company 95% to strike a credit and possible acquisition deal ...
Jul 13, 2022•31 min
It’s YOLO summer! Travelers are on the move, but airline and airport shortages are causing speedbumps. London’s Heathrow Airport is managing a staffing shortage by capping the number of passengers traveling per day and requesting that airlines stop selling tickets. Still, with so many people on the move, retail watcher Jan Kniffen wonders how many consumers will be around to take advantage of retailer sales like Amazon Prime Day. CNBC’s Courtney Reagan shares retail’s biggest sales and hurdles f...
Jul 12, 2022•26 min
Elon Musk is over Twitter. He’s aiming to terminate the $44 billion dollar deal, and Twitter’s ready to take him to court over it, but Musk is seemingly unbothered by the drama. Former SEC Chair Jay Clayton maps out the various outcomes at this stage in Twitter-Musk saga. Covid cases are ticking up as we head into the end of the summer, and while most of us have readjusted our individual risk calculus to allow for normal life, former FDA Commissioner Dr. Scott Gottlieb suggests keeping our masks...
Jul 11, 2022•35 min
