24 min
SQUAWK BOX, WEDNESDAY 3RD JUNE, 2020 Squawk Box Europe Express
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- Business News
U.S. tensions continue with the Pentagon moving 1,600 troops to the Washington D.C. area in anticipation of more violence following the police killing of George Floyd. The U.S. government launches a probe into nine countries which are threatening to impose digital taxes on tech firms. Trade Representative Robert Lighthizer has warned that the U.S. will “take appropriate action to defend U.S. business”. In luxury news, LVMH is reportedly reconsidering its $16bn takeover of U.S. jeweler Tiffany, prompting shares to sink almost 10 per cent. In China, service sector growth has roared back, with the PMI hitting its highest level for a decade. However, unemployment also continues to rise. And in the UK, sterling rises on reports that London will compromise with Brussels on trade rules ahead of upcoming Brexit talks but concerns remain over financial access to continental markets.
U.S. tensions continue with the Pentagon moving 1,600 troops to the Washington D.C. area in anticipation of more violence following the police killing of George Floyd. The U.S. government launches a probe into nine countries which are threatening to impose digital taxes on tech firms. Trade Representative Robert Lighthizer has warned that the U.S. will “take appropriate action to defend U.S. business”. In luxury news, LVMH is reportedly reconsidering its $16bn takeover of U.S. jeweler Tiffany, prompting shares to sink almost 10 per cent. In China, service sector growth has roared back, with the PMI hitting its highest level for a decade. However, unemployment also continues to rise. And in the UK, sterling rises on reports that London will compromise with Brussels on trade rules ahead of upcoming Brexit talks but concerns remain over financial access to continental markets.
24 min