Squawk Pod CNBC

After two activist investors pushed ExxonMobil to reduce emissions, the company sued the activists, prompting them to withdraw their proposal. The litigation has cost ExxonMobil’s board the support of CalPERS, the largest public pension fund in the U.S. and a $1B stakeholder in Exxon. CalPERS CEO Marcie Frost discusses her position ahead of the company’s shareholder meeting on Wednesday, and U.S. Chamber of Commerce EVP of Capital Markets Competitiveness Tom Quaadman explains why the U.S. Chamber backed Exxon in its lawsuit against the activist investors. Plus, economist and University of Maryland professor Melissa Kearney says decades-long concerns of overpopulation were misguided; advanced economies are facing fiscal troubles as their working age populations dwindle.

Frost - 05:02
Quaadman - 17:18
Kearney - 26:16

In this episode:
Becky Quick, @BeckyQuick
Andrew Ross Sorkin, @andrewrsorkin
Cameron Costa, @CameronCostaNY

The McDonald’s $5 value meal is coming in June, aimed at relieving inflation-weary consumers. But franchisees are also inflation-weary; Scott Rodrick, a franchisee in California, discusses the pressures at his restaurants and the difficulty of offering value in a high-cost environment. The Department of Justice has filed an antitrust lawsuit against Live Nation, aiming to split up the parent company and Ticketmaster, its subsidiary. CEO of competitor SeatGeek Jack Groetzinger discusses competition for ticketing and best experiences for fans. The Tesla shareholder vote on Elon Musk’s pay deal is coming soon, but it’s only one of multiple weekend headlines on the tech billionaire. Musk’s startup xAI has notched another $6B in funding, pushing the company’s valuation to $24B. Musk is also reportedly planning an xAI supercomputer. Plus, China has created a nearly $48B fund to back Chinese chip companies, CNBC’s Eunice Yoon reports.

Eunice Yoon - 08:01
Jack Groetzinger - 13:26
Scott Rodrick - 22:09

In this episode:
Eunice Yoon @onlyyoontv
Becky Quick, @BeckyQuick
Andrew Ross Sorkin, @andrewrsorkin
Cameron Costa, @CameronCostaNY

Dan Doctoroff is the New Yorker largely responsible for rebuilding New York after 9/11. The legacy of his long career in business and government includes his oversight as deputy mayor in the creation of now-iconic spots: Hudson Yards, the High Line, Brooklyn Bridge Park, the new World Trade Center. Doctoroff reflects on his life and career two years after receiving his ALS diagnosis and shortly after learning about a project that celebrates his contributions to New York. In a surprise tribute, his friends and colleagues wrote, “The Urbanist: Dan Doctoroff and the Rise of New York.” Andrew Ross Sorkin sits down with Doctoroff in the Whitney Museum for a look at his legacy and his supercharged nonprofit venture, Target ALS, in this special Memorial Day episode.

In this episode:
Andrew Ross Sorkin, @andrewrsorkin
Katie Kramer, @Kramer_Katie

The NCAA has signed off on a deal that could change college sports–and student athletes–forever. Chair of Carolina Coastal University Athletics Joe Moglia discusses the $2.8B that could be coming to college players over the next decade, as well as the winners and losers in a new business plan for university athletics. Elon Musk says he doesn’t support President Biden’s tariffs on Chinese EVs, Novo Nordisk says Ozempic could slow kidney disease, and the number of 401(k) millionaires has hit a new high. Plus, Nick and Gabe Safier have been spreading joy and special needs advocacy on social media. The brothers and creators of the Safier Universe join Becky Quick and Andrew Ross Sorkin for a conversation on the bright side of the internet.

Joe Moglia - 13:14
Nick and Gabe Safier - 24:28

In this episode:
Joe Moglia, @CoachJoeMoglia
Nicholas Safier, @NicholasSafier
Becky Quick, @BeckyQuick
Andrew Ross Sorkin, @andrewrsorkin
Katie Kramer, @Kramer_Katie

The Department of Justice has sued Live Nation, the parent of Ticketmaster. Attorney General Merrick Garland alleged that the company “relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States at the cost of fans, artists, smaller promoters, and venue operators.” Tim Wu, former Special Assistant to the President for Technology and Competition Policy, considers the DOJ’s potential actions moving forward. In Paris, Andrew Ross Sorkin sat down with French President Emmanuel Macron for an exclusive, extended interview. The discussion spans Federal Reserve and European Central Bank policy, as well as the Israel-Hamas War and funding to rebuild Gaza. Plus, Nvidia’s revenue more than tripled in its latest quarter.



President Emmanuel Macron - 13:40

Tim Wu - 22:05



In this episode:

President Emmanuel Macron, @EmmanuelMacron

Tim Wu, @superwuster

Becky Quick,@BeckyQuick

Andrew Ross Sorkin,@andrewrsorkin

Michael Santoli, @michaelsantoli

Katie Kramer,@Kramer_Katie

The 2024 campaign cycle is in full swing. Pollster Frank Luntz discusses the candidate appeals to voters, and the first debate’s details that remain unconfirmed. President Biden announced a plan to forgive $7.7B in student loans, former President Trump will start accepting crypto donations, and challenger Robert F. Kennedy Jr. is rallying retail traders on X.
Plus, Urban Outfitters brands Free People and Anthropologie performed well in the last quarter, Vivek Ramaswamy has taken a stake in Buzzfeed, and CNBC’s Phil LeBeau reports that America’s cars are aging. Almost 9% of registered vehicles in the U.S. were made before 2000.

Frank Luntz - 13:53
Phil LeBeau - 21:51

In this episode:
Frank Luntz, @FrankLuntz
Phil LeBeau, @Lebeaucarnews
Becky Quick, @BeckyQuick
Andrew Ross Sorkin, @andrewrsorkin
Michael Santoli, @michaelsantoli
Katie Kramer, @Kramer_Katie