Squawk Box Europe Express

A gesture of goodwill…Asian equities are in the green after President Trump decides to delay tariffs on $250bn of Chinese goods as the People’s Republic celebrates its 70th anniversary. Beijing responds in kind by waiving levies on several American products. But the real action is in Frankfurt, where Mario Draghi is expected to fire his big parting shot. The ECB is widely expect to cut the deposit rate, revive quantitative easing and add a number of other easing measures to offset the slowdown in the euro zone. The Hong Kong Exchange launches a $37bn takeover bid for the London Stock Exchange but political concerns could still derail it. The former CEO of the LSE tells CNBC that the proposal is an ‘aggressive move’ that will attract close scrutiny from shareholders. And we are live at the Opec+ meeting in Abu Dhabi where the group is meeting to discuss oversupply concerns following its cut to the 2019 oil demand outlook.

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The highly-charged ECB watch begins. Asian equity markets and bond yields rise with investors focused on what Mario Draghi will deliver in his final rate-setting meeting before leaving the presidency in Frankfurt. Expectations are high with analysts forecasting more QE, a cut to the deposit rate, tiering, fresh TLTRO loans and dovish forward guidance.

Apple unveils its latest smartphone incarnation, the 11, while also slashing costs for its TV service, stirring up a streaming battle. President Trump fires his hawkish national security adviser John Bolton, sending oil prices lower, as investors cut bets on escalating tensions with Iran.  In Brussels, incoming European Commission President Ursula von der Leyen has unveiled a new team of commissioners while in the U.K., Prime Minister Boris Johnson has vowed he will continue to work for a Brexit deal as parliament begins its five-week suspension.

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Swings and roundabouts… easing trade tensions help drive the Dow to a four-day winning streak but Chinese markets tick lower following last month’s producer data marking its steepest decline in three years. In Berlin, rumours of a shadow budget to circumvent national spending laws push Bund yields to a one-month high. In Brexit news, we hear exclusively from Irish finance minister Paschal Donohoe, who doubts much progress can be made in breaking the backstop impasse. Meanwhile, Prime Minister Boris Johnson loses a second vote to call a snap election as parliament is prorogued but he is adamant he will not ask Brussels for a withdrawal extension. We are also live at the Frankfurt Motor Show where Volkswagen CEO Herbert Diess tells CNBC that the U.S.- China trade war is being felt throughout the automotive industry.

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Brexit bedlam…Prime Minister Boris Johnson suffers another cabinet resignation over his government’s no-deal stance but Brexit secretary Stephen Barclay tells CNBC exclusively that efforts to secure a deal with the EU are in progress. Asian stocks rally on the news that Beijing is stimulating the Chinese economy with a RRR-cut as export figures prove the trade war with Washington is beginning to bite. We are live at the World Energy Congress Forum in Abu Dhabi where U.S. Treasury official Sigal Mandelker exclusively tells this channel that the U.S. is finally making inroads into curbing illicit shipping in the Gulf. And Hong Kong suffers its 14th consecutive weekend of unrest with pro-democracy demonstrations showing no signs of abating despite the Legislative Council scrapping a controversial extradition deal.

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It’s good to talk…the U.S. and China agree to resume trade negotiations, prompting the Dow to surge by more than 350 points – its best day in three weeks. The news also sparks hope across Asian markets ahead of U.S. jobs reports but Fitch downgrades the Hang Seng after months of violence across the Hong Kong Special Administrative Region. We are live in Westminster for the latest on Brexit where Prime Minister Boris Johnson is set to ratchet up his demands for an early election. In Rome, the new PD-Five Star coalition government is sworn in, but the challenge of delivering a budget to Brussels this autumn still lies ahead. We are live at the Ambrosetti Forum on the banks of Lake Como with in-depth analysis.

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Boris blocked. Conservative Party rebels and opposition lawmakers deliver U.K. Prime Minister Johnson a double defeat in the House of Commons, taking a no-deal Brexit off the table and also refusing to allow him to call a snap general election. We are live from Westminster with the latest. In Asia, markets rally on confirmation from the Chinese commerce ministry that trade talks between Washington and Beijing are set to resume in October. The Hang Seng enjoys extended gains following Hong Kong Chief Executive Carrie Lam's withdrawal of the controversial extradition bill, which is hoped will stem the violent protests in the Special Administrative Region. Over in the U.S., two-year treasuries slump to their lowest point since 2017, while we hear exclusively from Goldman Sachs CFO Stephen Scherr who says anxieties over a recession are becoming increasingly apparent.

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Chaos in the Commons. Conservative Party rebels aid opposition lawmakers to defeat the U.K. government in a vote to block a no-deal Brexit in October but a defiant Prime Minister Boris Johnson says he’ll seek an early election should he lose today’s vote on the bill. We are live in Westminster for the latest. In the U.S., markets close in the red after the first day of trading following the Labor Day weekend with manufacturing numbers shrinking for the first time in three years. It's a mixed session in Asia as the private Caixin survey reveals China's services activity hit a 3-month high in August. Plus, we speak exclusively with Lebanese Prime Minister Saad Hariri who tells CNBC he fears a war amid rising tensions between the U.S. and Iran.  

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U.K. Prime Minister Boris Johnson lays down the gauntlet to his Brexit opponents, asking them to back the government or risk a snap general election in October if they block a no-deal Brexit in Parliament later today. We are live from Westminster as Sterling hovers around levels not seen in two-and-a-half years. Beijing launches a formal complaint against the U.S. at the WTO over its latest round of tariffs which now effect up to $300bn of Chinese goods. The south-eastern United States braces for Hurricane Dorian to make landfall after the slow-moving mega-storm killed 5 people and destroyed 13,000 homes in the Bahamas. And, we are live in Beirut where the Lebanese government is preparing to declare an economic state of emergency amid simmering tensions between Hezbollah and Israel.

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A new phase in the trade war. Washington slaps a fresh 15 per cent levy onto a range of Chinese goods while Beijing retaliates by imposing a 5 per cent tariff on U.S. crude oil. President Trump, however, is upbeat about talks later this month. Hong Kong sees a 13th consecutive weekend of pro-democracy protests with many turning violent. Demonstrators clashed with police, blocking roads and disrupting airport transport links. In Italy, designated Prime Minister Giuseppe Conte voices confidence over upcoming coalition talks but Five Star leader Luigi Di Maio sounds a more lukewarm tone, telling CNBC exclusively that his party will only enter a new government if its demands are met. And in the UK, Prime Minister Boris Johnson threatens Conservative MPs with deselection if they choose to side with opposition lawmakers in an attempt to thwart his Brexit plans.

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It’s the end of the month with stocks finishing in the green amid signs that U.S.-China trade tensions have cooled somewhat. This, despite fresh tariffs on Chinese goods coming into effect on 1st September. We are live in Rome where former Prime Minister and PD leader Matteo Renzi tells CNBC exclusively that he refuses to play a part in the new coalition government because of personal issues with Five Star but he urges international investors to bring their business to Italy. In the U.K., Prime Minister Boris Johnson says that he will ‘step up the tempo’ on EU withdrawal talks but he’ll face stiff opposition in parliament next week as lawmakers attempt to block a no-deal Brexit. And in Asia, Hong Kong braces for a 13th consecutive weekend of protests following the arrests of several prominent pro-democracy activists.

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