Squawk Box Europe Express

European gas prices soar, as the UK’s business and energy minister prepares to hold emergency talks with suppliers, but COP26 President Alok Sharma has played down concerns. In Germany, the SPD’s Olaf Scholz has emerged the clear winner in the latest TV debate ahead of this weekend’s general election. Chinese property developer Evergrande faces twin bond payment deadlines this week, prompting its share price to plunge on the Hang Seng. 

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P closes lower, but pares losses after retail sales come in better than expected, despite Delta variant concerns. Meanwhile President Biden lays out plans to raise taxes on the highest earners and big business, as he looks to fund his infrastructure package and social policies. China applies to join the new Pacific Trade Pact, in a bid to boost its regional role, just a day after the formation of a U.S.-led Asia-Pacific security alliance. Polls open across Russia - as the country votes in three days of covid-impacted federal elections. And Maersk hikes guidance again, as the shipping giant says it expects freight tightness to run into next year -- while Citroen CEO Vincent Cobee tells CNBC the auto industry needs greater control over supply chains.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US President Joe Biden announces a new Indo-Pacific security partnership with the UK and Australia - riling China. The French government meanwhile, voices its disappointment to have been excluded from the pact. In Germany, the front-runner to succeed Angela Merkel as Germany's next Chancellor, Olaf Scholz is summoned to appear before lawmakers over a money laundering scandal, just days before the country heads to the polls. And billionaire investor Ray Dalio makes waves in the crypto space, telling CNBC that regulators will crush bitcoin if it poses a threat to central banks. We take a look at global markets where Hong Kong is under heavy pressure once again, while Wall Street bounces back, and the S&P posts its best day in two weeks.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China's August retail sales miss the mark, growing at 2 and half percent, nearly one-third the expected level, as the country deals with its worst Covid outbreak in over 18 months. In the US, price pressures appear to ease, as CPI jumps less than expected in August - but still hovers near 13-year highs. And Apple unveils its latest range of iPhones, as the world's most valuable company seeks to move past privacy and anti-trust concerns. 

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow and the S&P log their first positive day in six - ahead of today's CPI report, expected to show inflation running hot, potentially putting the Fed in a tough spot on its tapering timetable. U.S. House Democrats return from their August recess with a plan to roll-back Trump era corporate tax cuts, as they look to finance the 3-and-a-half-trillion-dollar infrastructure bill. And in Corporate news, German real estate company Vonovia drops a key condition in its bid to take over rival Deutsche Wohnen - potentially removing the last hurdle to the deal.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asia markets see red on fresh regulatory concerns in China - as Beijing reportedly seeks to break up Ant Group's online payments platform Alipay, and amid calls for consolidation in the country's EV sector. In Europe, the SPD's Olaf Sholz pulls ahead in the polls, less than two weeks before the German election - hitting back at accusations he was culpable in a string of high-profile financial scandals. In France, the far-right's Marine Le Pen, and Paris Socialist Mayor Anne Hidalgo, launch their campaigns to oust the President Macron next year.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The leaders of the world’s two biggest super powers spoke for the first time in 7 months. U.S. President Joe Biden and Chinese President Xi Jinping agreed to avoid conflict while managing competition in a 90-minute call that the White House described as “familiar and candid”. Meanwhile, Wall Street extends losses despite an improving employment picture, while Asian equities bounce back as Chinese tech stocks recover from more gaming regulation. Beijing said approvals for new video games would only be slowed, dispelling rumors of a freeze on all new approvals. Meanwhile in Europe, the ECB announces plans to trim emergency pandemic support - but President Lagarde insists it's not a taper. And prosecutors raid Germany's finance ministry just three weeks ahead of elections in a move that could damage front-runner Olaf Scholz. Speaking ahead of the news, we hear from SPD leader Martin Schulz who tells CNBC the finance minister would bring positive changes to the chancellery.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Investors await one of the most contentious ECB meetings in months, as the central bank is expected to map out how it will pare back its emergency bond purchase programme. The Nasdaq retreats from record highs, joining the S&P and Dow in the red, sending Asian stocks lower, as the Fed's monthly Beige book reports a downturn in the economic outlook. China's factory gate prices surge to a 13-year high - coming in hotter than expected on the back of elevated commodity prices. And we are live from a dairy farm outside the Swiss city of Lausanne - one of Nestle's key suppliers - ahead of the release of the food giant's 'Regeneration Promise'.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P and Dow close in the red after the Labour Day long weekend, with recovery concerns growing. Meanwhile big tech stocks push the Nasdaq to another record high. It’s a bumpy ride for Bitcoin after El Salvador's launch of the crypto as an official currency gets off to a rocky start amid protests and tech teething trouble. And German Chancellor Angela Merkel implores voters to back Armin Laschet in this month's election, as candidates make their pitch for the premiership, with her Conservatives lagging in the polls.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese exports score a big beat - jumping more than 25-percent on the year in a sign the world's second largest economy may be performing better than a recent run of data suggested. The CEO of Daimler tells CNBC it's seeing strength across its product line, despite supply chain challenges that the group hopes will ease later this year. Porsche is also feeling the chip squeeze - the CEO tells CNBC, it's causing production line delays. And Bitcoin continues to push higher, breaking 52 thousand - as El Salvador becomes the first country to formally adopt the crypto as legal tender.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.