SQUAWK BOX, FRIDAY 7TH OCTOBER, 2022

10/07/22 • 30 min

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Credit Suisse sets aside CHF3bn to launch a public tender off with the aim of buying back its debt securities. The IMF warns of an upcoming global growth downgrade. Managing Director Kristalina Georgieva tells CNBC that “multiple shocks” are to blame and that drastic central bank moves are required to rein in inflation. The Dow is down but Wall Street is still set for a large weekly gain ahead of the non-farm payrolls. We are live in Prague at the inaugural summit of the European Political Community where Polish PM Mateusz Morawiecki tells us Germany’s addiction to cheap Russian gas and its “disastrous” energy policy have left the rest of Europe in a vulnerable position. And in tech news, Samsung posts its first quarterly decline for 3 years as it wrestles with a global slowdown and reduced memory chip demand.

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SQUAWK BOX, THURSDAY 6TH OCTOBER, 2022

Opec + members slash output by 2m bpd, pushing up oil prices to a three-week high. The cartel’s secretary-general, Haitham Al-Ghais, tells CNBC the cut was not a political decision. The U.S., however, accuses Opec of siding with Russia and ‘shortsightedness’ for the reduction in production. The Biden administration immediately orders more oil to be released from its SPR. Ratings agency Fitch is the latest to issue a negative outlook warning for the UK. Elon Musk and Twitter could reportedly resolve their litigation wrangles later this week. The Tesla boss has launched plans to transform the social media platform into a ‘super-app’.

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SQUAWK BOX, MONDAY 10TH OCTOBER, 2022

Global markets under pressure, as the Dow slumps after U.S. jobs data points to tightness in the labour market, while investors look ahead to a crucial week for data and earnings. Fresh data flashes warning signs for the Chinese economy, as the services sector contracts for the first time in four months, while the chip sector drags stocks lower after the US announces fresh restrictions. Russian President Vladimir Putin accuses Ukraine of a "terrorist act" after a bridge linking Crimea to Russia is hit by an explosion, disrupting a key military supply line. Nissan reportedly pushes Renault to sell down its stake in the Japanese carmaker, as part of talks that would see the auto giants create a joint venture to accelerate the development of electric cars.

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