Country out of its worst economic slump in decades. The deadline draws near for tiktok to divest it u. S. Assets, reports a shutdown of its priced app for sale. We have breaking news. Oftbank will be selling this as bloomberg learned softbank was trying to strike this deal that could be valuing it at 40 billion. Arm, weis deal to sell could have seen softbank reviving those stocks about taking the group privates. We are hearing that softbank divisionelling its arm to nvidia. This would be a 40 billion deal, the biggest chip deal to date. The transaction value is up to 40 billion. Nvidia could be paying more than 21 billion in stock and 12 billion in cash. This would be a 2 billion payment as signing. This coming at a time as we continue to see softbank divest its assets. Softbank could be receiving an additional 5 billion of cache if the performance meets certain targets. This also depends on what regulatory scrutiny they go through. This could be the largest ever in the semiconductor
Maria is there with more. What do we know so far . It seems like they are going to be talking on the 750 billion euros stimulus. Is that rhetoric . Maria it is unclear whether we get a deal. We do know european leaders have been stuck in a room was 10 hours debating what to do with his Recovery Fund. It is clear there are three major sticking points. One has to do with the size of the Recovery Fund, how big it is going to be. Euros wouldbillion be granted as grants to countries in Southern Europe that have been badly hit by the coronavirus. That could change during the weekend. There is an issue with the format, how much this money will be in terms of grants and how much will be a typical bailout just cash for reforms. Secondly, this is becoming a major thing, the governments. Who is going to make sure a country like italy after they get this money, who is going to make sure they use it for reforms . For a country like the netherlands, for the dutch Prime Minister to whom i spoke to in
Vaccine. And we speak to one of the Worlds Biggest Oil Storage Companies about what is going on with crude it is july 29. This is Worldwide Exchange here on cnbc good morning, good afternoon, good evening wherever in the world you may be watching. Here is how your money are setting up their trade futures well call them mildly higher right now. With so much going on today, it is no surprise if wall street and traders are in a wait and see mode at least what weve seen over the last couple of months of 100 to 150 you may have guessed, today, it is all about washington, d. C. And a jam packed schedule. Youve got the Federal Reserve and no clues completing the triple play, Congress Still in intense talks and debate about the trillion dollar plus relief bill as the clock ticks and expanded Unemployment Benefits expire this friday, well get more on that going around the world in a developing story in hong kong, a jump of new cases overnight and new fears of community spread. Well go to Julian
Exports from france and the u. K. In what could become a wider transatlantic trade fight. Just what everyone needed. Correspondent mike mckeen is going to break down those details. You missed it right . Terrace man, he is back. The Trump Administration getting ready for another round of tariffs on the European Union. This time legally permitted by the wto which the administration billion ino 7. 5 tariffs because of illegal subsidies to airbus. The initial round only targeted half of those. Ony put in 15 taxes aircrafts and parts, 25 and including Gourmet Foods like scotch whiskey. Also industrial goods like pipe cutters. Now they want to impose a new round using up the rest of the money, they would put tariffs on things like all lives, be your, trucks, beer, clothing. Good news for guy, bad news for alex. Edition jin would get more expensive at the height of gin and tonic season but maybe an excess of supply would help guy in london. This is something called carousel retaliation. They
President s, you need to put a tiger in the tank. It is very clear what the uk needs. Uk Prime Minister says a brexit deal by the end of the month is possible despite key sticking points. Jeff bezos goes to washington founder and ceo is willing to testify after long resisting a longranging inquiry of antitrusting nbc confirms north korea has blown up an office hours after they threatened to take action. A warm welcome this morning. A lot to get to. Lets kick off with the energy markets. We have a fresh report out of the iea. The iea has raised the 2020 forecast by nearly 500,000 barrels a day due to demand from china and india as well as the lockdown Global Oil Supply outlook fell in may opec plus countries reduced out look by 9. 4 Million Barrels a day. Interesting to see that they do now see a stronger Oil Demand Forecast than they now had seen previously they note that oacd industry stocks rose to 3. 1 billion above fiveyear average. In terms of oil demand, that is coming from bette