It is better than the nasdaq which is down by 3. 5 for the week. Dow down 1. 5 . Yesterday was a rough day. It was yields. The next board that we will show on the back of everybodys minds. Investors. Normal people are not saying oh, my gosh. 30 more basis points. We are sitting up and taking notice of the 10year treasury now. How low we were for a long time with the backtoback crises. Right. If you look at the steep curve, that tells the story from the lows. The 2year treasury is the same story. Japans central bank maintaining the ultra loose policy. Bank of japan citing uncertainty with the economies and Financial Markets at home and abroad. This is a big deal. The yen has been vehweak. There have been expectations to raise rates. Governor euda indicated that would be the case. As soon as the end of the year, they would talk about finally ending negative Interest Rates. That has taken place for a long time. Yesterday, ashley spoke with the Prime Minister of japan. We will show you that in a few minutes. He was speaking in japanese. Well show you some with the quick interpretation. Ill give you the back drop. Speaking to the interpreter with that. Good idea. Very interesting. This primary is trying very hard to get things up and running again. You have seen the nikkei out performance do very well. We spoke to the Economic Club of new york yesterday. He said japan is open for business. They want foreign investment. Everybody does. Watching the saudis interview on one of our competing networks with mbs. I dont like that guy although i know all the bad stuff. He is engaging. They nefarious. Think of the question. Some guy posted something online that the country didnt like. He has the death sentence for saying something online. Are you going to go through with it . He said i have to get rid of laws on the books that judges enforce. Hundreds of antiquated laws on the books that dont seem to fit in with the way we view the world. You need to get rid of the laws. Whats the judge supposed to do . You are in a different country. Jamal khashoggi. In that country. Tom freeman has given him huge props in opening up society for women. Trying to look at that and bringing the Society Forward and p find other ways to help society instead of relying on fossil fuels. He has done a lot to open those markets and try to change things. It weighs so heavily. Go east of there. Just as much brutality. We are asking questions now, but we certainly have let china do what it wants and traded with them. A new report in the Washington Post today that looks at American Companies that comply with the uyghurs. We are looking at other things and asking questions. You were talking about the tenyear and twoyear. We know how we have an editor. The story with the headline was we may already be in recession and we wont know until six months from now. I dont see anything that indicates that in terms of labor. We dont know at this point. Recessions do come on like that. We have a contingent of people who come in here to say here is what is happening under the surface. Including yesterday. We spoke to the duke professor. Right. We had people saying here are the two risks. Let inflation get out of control or staying too long and staying tight for too long and causing not a soft landing, but a recession. Unnecessary recession. If you waited and waited for the lag effect. It is what dan was talking about yesterday. Do you believe the effects of the higher Interest Rate play out quickly or more lag effects . He think there are more lag effects. You have all of the other things. 90 oil and a couple of strikes. Now to washington with the possible strike, if you will, over the government. Nine days before the Government Shutdown. Kevin mccarthy hitting a dead end and sending house members home for the weekend after the faction of gop members blocked proc procedural vote on the key spending bill. The white house is set to tell federal agencies to prepare for a shutdown. Later this hour, we talk to arkansas Republican Congress member french hill. He is staying in washington to try to work out a deal. The clock is also ticking toward the uaw new deadline for what they are calling serious progress from ford, gm and stellantis on contract negotiations. If they dont get it, they he are threatening to ramp things up. 13,000 of the members have been on strike of the 150,000 members. The strikes could be expanded this afternoon. In a Statement Last night, gm says it is now clear that the uaw leadership has always intended to cause months long disruption. Uaw leadership needs to put the interests of the members and the country over their own ideological and personal agendas. Gm has put five offers on the table and ready to bargain in good faith. It doesnt sound like progress has been made. We know the goals of the automakers are offering and the uaw needs are still wide. I dont think you will get 40. When i hear the management say these are record offers. All right. For 10 or 11 years, you were beneath. After the last ten years, a record offer doesnt mean it is as much as what they will settle for. If you understand what they gave up in 2007 i still go back to harry wilson who has been our best guest explaining what happened in the past and what he thinks needs to happen. A former republican at the negotiating table in 2007 said they gave up a lot. He thinks it was insulting with the automakers started with a gain of 5 or 6 . That set the tone for this. They came in tone deaf and undercut the offer. He thinks the auto union is now asking for far too much and it has gotten to beyond a battle with god. Harry said go for 30 . He worked in the obama administration. He has stockholm syndrome. Things started seeming normal to him that would not have been normal if he were surrounded by he said a 30 raise would be fair. You cannot offer the legacy programs they ended in 2007. There is a way to do this to try to apiece all sides. Record contract. Record offers. We use record loosely. Im not impressed. You need to deal with inflation and if they are making 20 less than they were 15 years ago, then do it. Early this morning in london, the uk competition regulator said the microsoft structure takeover of Activision Blizzard opens the door to the deal being clear. The cma blocked microsofts first deal in january of 2022 on concerns it would restrict competition in the emerging cloud gaming sector. Microsoft then revised the Deal Offering to divest cloud rights and new games published for the next 15 years. The regulator says it still has concerns, but said microsoft put forward remedies that the cma concluded should address the issues. Microsoft says it hopes to earn approval to close the deal before the october 18th deadline. This is a big deal. If the cma says you cant do it, you cant. There is no way of getting around it. Convincing them to change their mind is the only way. Activision shares up 1. 3 . Microsoft shares up. 50 . You need to get with the program. Probably get with the monarchy. There are a few things they need to deal with over there. News out from amazon. The company says starting early next year, prime video shows and movies will include ads. You get a break on what it costs . No. They are not making changes to the price of prime membership. They are sticking ads in there. You can get an adfree tier for additional 2. 99 a month. No ads up to this point. We knew this was coming. Streaming is worse than so many analogies to entertainment and the it is like selling ev cars. Its not working for the big three. Streaming is very difficult to make money. First guy to figure that out. Zas. I think he got in there and looked around and said how much with cnn . People are not watching. Dont drag me into this. Coming up, media news. We will talk about the Writers Strike negotiations in hollywood. Rupert murdoch stepping down. What . Hes 92. Hold the presses. Fox and news Corp Chairman. Supposedly totally robust health. New romance. He is still involved. I dont doubt him. Later, former House Majority eric cantor will weigh in on the washington shutdown. He had his issues with the Republican Party and the challenges ahead for Speaker Mccarthy. Would you come on if you were kevin . Yes. You areatin wchg squawk box on cnbc. Announcer this cnbc program is sponsored by baird. Visit bairddifference. Com. sean i wish for the amazing new iphone 15 pro jason sean do you mean this one the one with titanium . Switch to verizon, you can trade in any iphone, and get the new iphone 15 pro on them. vo trade in any iphone in any condition for a new iphone 15 pro on us. Only on verizon. birds chirping go. And go and go and go. but what if you. Stop . You work hard, its time for a bank thatll work hard for you. 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Man, youre lucky, watching live sports never used to be this easy. Now you can stream all your games like its nothing. Yes [ cheers ] yeah woho running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Nice footwork. Man, youre lucky, watching live sports never used to be this easy. Now you can stream all your games like its nothing. Yes [ cheers ] yeah woho running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Rupert murdoch announced he will step down as fox and news Corp Chairman in november. Our next guest says he doubts the 92yearold media mogul is really gone or leaving the scene. Joining us is semafor chief ben smith and author of the book traffic. Ben, i cannot take the other side. I agree with you. It is hard to imagine the guy who said you have to carry me out of here in a box is leaving the building. It is strange. His son has been running fox corp for a while is now really in charge. Rupert murdochs style of running the company with a lot of emails in late hours and wanders the office. He never was a traditional corporate manager. He was a massively influential figure. I dont expect that to change. Why do this . He set up everything that is being signalled. He is 92 years old. He will at some point leave the building. He is in love again and on beaches. Look at some 80yearolds. He is not the average 92yearold. I think billionaires dont die any more. I need to separate succession from the real life. Good luck. I know. I get confused. I need to bring myself back into the real world. So much of it seems like playing out like fiction mirrors reality. I guess they try to do it. The background shows the struggle for control and succession and the four kids. The oldest son lachlan is the one in charge. When he passes away, there will be a fight for control among the four. Lachlan appears to be in control. This sounds like succession. It isnt a character like lachlan. Composite. I think he is a very nice guy. He does not appear to work quite as hard as the character in succession. He is running the companies from australia. When he was in los angeles, he was perhaps known for installing a Rock Climbing Wall in the studio lot. He bought an incredible house. Beverly hillbillies house. Not cheap. He is running the company from australia. Midnight to 8 00 a. M. That is something that is not happening. I thought it was like kendall because of walter. His thing was quiby or tubi. Didnt that get written down . Tubi. Not supported ad digital. What is it worth . I dont know. The problem is the strength with fox corp is the deal to sell the movie business at the peak of its value. Great deal. There is not that much left of the company. Fox news, bit of sports, other stuff. It is not really a competitive Media Company in the landscape of giants. It is hard to figure out. What happens to the company . What is the ultimate . Does it exist on its own or bought up into Something Else . He put his son in charge of fox corp and news corp. He would like to bring the family assets back together. It doesnt seem shareholders want this. There are two companies adrift and it is not clear putting these two together solves that. It is a juggernaut. What will happen with smartmatic . Tucker. Now a dip. Now ratings are back to where it was. Stock is back before dominion. Fox news remains with enormous cash. It is the only one. It was the only one a few years ago. It is reckoning with the changing landscape. Daily wire. Megyn kelly. If you are in the group ththat does see a problem with the pov, fox is it. Im not saying im part of that. They are dealing with the same thing that everybody is. Fragmenting and their share is chipped away. The people who are paying bills are the people who have the cable cord. That number is diminishing. Like all of us, they have to figure it out and figure it with that one asset. They launched fox nation which is supposed to be the digital future. You have extra crazy. That didnt catch. There are some things on it. I thought about it a few times. Jef jef Jeffery Dahmer . I dont want to see that. Pier morgan interviewing serial killers. I might want to watch him. You are not a fox news . Cops is on there. Bad boys. Pier morgan. He is in the News Corp Part of this doing tv for the times of london. You could imagine sticking this back together. He is on fox. Piers morgan is on fox a lot. He wanted him to take over for tucker at one point sdp. News right here. You imagine sticking this together. This is getting bigger. It doesnt seem like the boss son living in australia will come in and takeover. There was a New York Post story today. I read it. You pointed out to me this morning. The dashing young man will be taking over. The power behind the genius. Now stepping in. It sounded like the kendall release. The core thing his tenure is known for is he took his eye off the ball and they drifted into the unbelievable plot around the election and mishandled the legal claims and settled for a massive number. He is getting farther along. A good friend. Ben, thank you for coming on. When we come back, bang of Japan HoldingInterest Rates steady overnight. We have comments from the japanese primary on the economy and attracting foreign in inve investment. Plus, ww, formerly known as weight watchers, shares are Holding Steady after oahpr made negative comments about weight loss drugs. We will have more on that stock when squawk box comes right back. Safe from cyberthreats . Absolutely. Can we provide health care virtually anywhere . We can help with that. Is it possible to use predictive monitoring to address operations issues . We can help with that, too. With the advanced connectivity and intelligence of global secure networking from comcast business. 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The bank of japan leaving Interest Rates unchanged overnight. Japanese primary fumio kushima spoke yesterday at the Economic Club of new york about encouraging the Asset Management industry in japan and attracting more foreign investors. Primary kushima led the session with him yesterday and i asked about the negative Interest Rate policy. Politically speaking, if they did end zero rates, would that make your agenda more difficult with the shrinking liquidity or would it strengthen the yen . Translator by government is monitoring the Foreign Exchange market with the high level ofvof vigilance without ru ruling out options. The bank of japan kept rates steady. The governor suggested by the end of the year, they do could e away from negative Interest Rates which has mired the japanese economy for decades. You have seen what has happened for years. They need to get out of the negative Interest Rate policy to convince consumers to spend money and reinvest in stock markets. They need to find ways to see growth. They were making more in wages than americans in the 1980s. They are making 40 less than the americans. They have a huge problem