Boris Johnson Resigns; Luxury Art Market Soars 7/7/22
Squawk Pod7 Juli 2022

Boris Johnson Resigns; Luxury Art Market Soars 7/7/22

UK Prime Minister Boris Johnson is resigning, following a torrent of resignations from ministers in his government in the past 24 hours. CNBC Europe’s Steve Sedgwick reports on the scandals that have caught up with Johnson and the quick sea changes of UK conservative politics. As Wall Street parses through the market’s recession signals and portfolio managers brace for a deeper downturn, the luxury art market soars. The first half of 2022 broke records for the industry, marking the most ever paid for an American artist at auction ($195 million), and the most ever paid for a single collection (a cool $922 million). CEO of Masterworks Scott Lynn offers investors fractional ownership–equity shares–of blue chip works by the likes of Basquiat and Banksy, and he says, it’s an alternative asset worth the hedge. Plus, the market is working its way through the Federal Reserve’s reasoning behind its 75 basis point rate hike decision last month.

In this episode:

Scott Lynn, @Scottlynn

Steve Sedgwick @Steve_Sedgwick

Joe Kernen, @JoeSquawk

Melissa Lee @MelissaLeeCNBC

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.

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The Jedi Battle; Directness of Direct Advertising; Taylor Swift’s Bad Blood

The Jedi Battle; Directness of Direct Advertising; Taylor Swift’s Bad Blood

Amazon is challenging the Pentagon’s award of a $10 billion cloud contract known as Jedi to Microsoft. Amazon accused the government of bias because of President Trump’s disparagement of the company and its CEO Jeff Bezos. Becky Quick, Andrew Ross Sorkin and Joe Kernen debate with The New York Times’ Ed Lee whether the government was biased when choosing Microsoft over Amazon. Tim Armstrong, the founder and CEO of the DTX Company, discusses Twitter’s political ad ban and the new shopping holiday his company is launching to precede Black Friday. And, Taylor Swift is pleading for help from the private equity firm The Carlyle Group. The private equity firm fronted the money for producers Scooter Braun and Scott Borchetta to purchase the rights to Swift’s older music, which she can no longer use or perform. The Squawk gang discusses Swift’s bad blood with the music executives with Erik Hirsch, Hamilton Lane vice chairman. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

15 Nov 201928min

Warren Bashing Billionaires; Impeachment Impact; Cooking Conversations with Lidia Bastianich

Warren Bashing Billionaires; Impeachment Impact; Cooking Conversations with Lidia Bastianich

Presidential candidate Elizabeth Warren fired her latest shot at billionaires with a commercial on our own network, CNBC. Joe Kernen, Becky Quick and Andrew Ross Sorkin discuss her ad -- targeting hedge fund mogul Leon Cooperman, among others -- with Jared Bernstein, the former chief economist & economic policy adviser to Vice President Joe Biden, and the Heritage Foundation’s Joel Griffith. Raymond James’ Washington Policy Analyst Edward Mills breaks down how the House impeachment inquiry could affect the markets. And Italian restaurateur, author and TV host Lidia Bastianich says the restaurant industry is changing and weighs in on whether you should eat out or cook at home for Thanksgiving. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

14 Nov 201932min

Tax Cuts 2.0; Justice in Business; Regulating Big Tech

Tax Cuts 2.0; Justice in Business; Regulating Big Tech

An annual ranking of the most just companies - responsible to both society and shareholders - is out from Just Capital, co-founded by billionaire hedge fund manager Paul Tudor Jones. He joins Squawk Box with PayPal CEO Dan Schulman to explain why it’s important to recognize businesses based on how they treat their employees and customers, as well as their impact on the environment and local communities. Sen. Mark Warner (D-VA) explains why he’s pushing back on Facebook’s political advertising policies and what he’d like Congress to do to regulate big tech. The White House teases another tax cut for the middle class (Tax Cuts: The Sequel); and Kevin Rudd, Former Prime Minister of Australia describes the surging tensions between businesses and the anti-government protestors in Hong Kong. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

13 Nov 201935min

Microsoft’s DACA Mission; Betting Big in Space; Disney+’s Debut

Microsoft’s DACA Mission; Betting Big in Space; Disney+’s Debut

Microsoft is stepping in to try to save DACA. Today, the Supreme Court begins hearing the case that that’s trying to stop the termination of the program that protects 700,000 people who came to the U.S. illegally as children. Brad Smith, Microsoft’s President, says Microsoft is the only company that’s a plaintiff in the case. About five dozen current Microsoft employees are DACA recipients. Space Angels’ Chad Anderson tells Becky Quick and Joe Kernen why he’s betting big in outer space .. soon to be a $10 Trillion industry. And, Disney+ launches today. Cg42 Founder Stephen Beck judges how this platform will fare in the streaming wars and what to do with your boxes of Disney DVDs. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

12 Nov 201925min

Singles’ Day; Dimon’s Wealth; Social Media Spying

Singles’ Day; Dimon’s Wealth; Social Media Spying

It’s Singles’ Day— one of the biggest shopping days in the world. Alibaba has already beat last year’s sales on the e-commerce platform’s 24-hour shopping event. JP Morgan CEO Jamie Dimon defended his $31 million salary in an interview about wealth inequality on 60 Minutes. Joe Kernen and Becky Quick discuss that and Taylor Swift’s boyfriends with guest host Tom Farley. General David Petraeus is on set for Veterans Day to encourage businesses to hire and support veterans’ careers. Alex Stamos, former chief security officer at Facebook, discusses social media’s role in national security in the wake of the Department of Justice charging two Twitter employees with spying for Saudi Arabia. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

11 Nov 201931min

Billionaire-in-Chief

Billionaire-in-Chief

Former New York Mayor Michael Bloomberg might be running for President, but Joe’s betting Andrew that he doesn’t. The team speaks to pollster Frank Luntz (again), Operation Hope’s John Hope Bryant, and CNBC’s Robert Frank. NYT reporter and CNBC contributor Edmund Lee rounds up the week’s tech and media stories, from WeWork’s concerned employees to Disney+ and product placement on Apple TV’s “The Morning Show.” Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

8 Nov 201934min

Food (Delivery) Fight; Bill Gates’ Tax Math; Tom Friedman

Food (Delivery) Fight; Bill Gates’ Tax Math; Tom Friedman

Bill Gates is the second-richest man in the world and a famously generous philanthropist, so he knows a thing or two about taxes. At The New York Times DealBook Conference in partnership with CNBC, Bill did the math on his taxes under Senator Warren’s plan...and now the Presidential candidate is reaching out for a meeting. Pulitzer Prize-winning NYT columnist Tom Friedman weighs in on China’s economy and the 2020 race for the White House. Plus, the Postmates CEO Bastian Lehmann has big plans for food delivery; Joe is pushing for Taco Bell to his door. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

7 Nov 201937min

Wall Street vs. Warren; Personal Finance with A-Rod

Wall Street vs. Warren; Personal Finance with A-Rod

Bank of America’s Savita Subramanian is on set with Becky and Joe talking Walgreens, SoftBank, Amazon, and whether anyone “Xeroxes” anymore. Wall Street and Senator Elizabeth Warren are at it again; pollster Frank Luntz shares his statistics and his theories about economic education in the U.S., and whether believers in socialism will stay on that side of the capitalism debate. Plus, baseball legend Alex Rodriguez became a millionaire at 18, and now he’s a CEO with a new show on CNBC. He shares his advice for your personal finances—and for Mets fans. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

6 Nov 201934min

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