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U.S. President Donald Trump speaks to members of the media on the South Lawn of the White House in Washington, U.S., on Friday, Aug. 1, 2025.Aaron Schwartz | Bloomberg | Getty Images U.S. President Donald Trump joined CNBC’s “Squawk Box” Tuesday for a lengthy interview that touched on tariffs, the Federal Reserve, the state of Russia’s economy and being rejected as a customer by JPMorgan Chase and Bank of America.For those pressed for time and want a very broad TL;DR: Trump appears to be digging in on his policies.With modified country-specific “reciprocal” tariffs due to start Aug. 7 — and…

What next for Birmingham City after achieving the highest points total in the history of English football? Chris Davies could retire now with a higher win percentage than Pep Guardiola. But that is not the plan. He and Birmingham are just getting started.Davies knows the numbers. The most points? “One-hundred and eleven.” More league games won than any English team before them? “Thirty-four.” Not bad for a club with a highest finish of 17th in the previous eight seasons. One that had forgotten how to win. “It was a rejuvenation of the whole club, really,” Davies tells Sky Sports. “That…

Boxes of Ozempic and Wegovy made by Novo Nordisk at a pharmacy in London on March 8, 2024.Hollie Adams | ReutersSales of Novo Nordisk’s blockbuster Wegovy weight loss drug surged in the second quarter, the company said in its latest report, as it pledged to reduce costs after stock losses.Revenues for its blockbuster Wegovy obesity drug rose 67% to 19.53 billion Danish kroner in the three months to the end of June, slightly below the 20 billion Danish kroner forecast by analysts in an LSEG poll.Shares were down 0.3% by 9:26 a.m. London time (4:26 a.m. ET), paring some earlier…

This report is from this week’s CNBC’s UK Exchange newsletter with Ian King. Like what you see? You can subscribe here.The dispatchIt has already been a gripping cricketing summer in England.A fiercely fought series of five Test matches with India — global cricket’s financial powerhouse — came to an end earlier this week in what will likely go down as one of the greatest set of games ever played.A quick aside. Cricket has many forms. The longest is known as Test Match and can last up to five days — and still potentially end in a tie. Then there is the…

Son Heung-Min attended LAFC’s Leagues Cup victory over Tigres UANL at Los Angeles’ BMO Stadium on Tuesday night, watching from a luxury suite.The 33-year-old South Korea superstar forward finalized a deal to join the Los Angeles team after a decade at Tottenham Hotspur, sources told ESPN. LAFC announced a news conference for Wednesday to introduce Son formally.LAFC will pay a transfer fee of around $26 million, according to sources. That figure would break the mark of $22 million Atlanta United FC spent last winter to acquire forward Emmanuel Latte Lath.The club showed Son on the stadium video board late in…

Novo Nordisk in ‘a better place’ than many peers amid tariffs threat, CFO saysSpeaking to CNBC’s “Squawk Box Europe” this morning, Karsten Munk Knudsen, chief financial officer of Novo Nordisk, responded to U.S. President Donald Trump’s threat to slap 250% tariffs on pharmaceuticals.Knudsen noted that the Danish pharmaceutical giant was “already investing a lot in the U.S.,” with a $4 billion expansion project underway.”When we’re filling cartridges and putting it into pen devices, that’s predominantly U.S. manufacturing for U.S. patients, so that’s already in place,” he said.”And then on the active ingredients [in weight loss drugs Ozempic and Wegovy], we…

Donald Trump’s aggressive tariff regime was designed to restore American economic dominance, but early evidence suggests a troubling paradox. Rather than weakening China’s position, the tariffs appear to be generating economic headwinds at home, straining key alliances, and creating new opportunities for Beijing to expand its global influence. Trump’s tariffs have pushed the average US tariff rate to 18%—the highest since the 1930s. According to Yale Budget Lab estimates, these policies will cost US households approximately US$2,400 in 2025, raising prices across consumer goods from electronics to clothing. While monthly tariff revenues have surged to $29 billion by July 2025—triple…

U.S. President Donald Trump meets with Syrian President Ahmed al-Sharaa in Riyadh, Saudi Arabia, in this handout released on May 14, 2025. Saudi Press Agency | Via ReutersIn May, speaking to a rapt crowd in the Ritz-Carlton Riyadh, U.S. President Donald Trump stunned listeners by announcing he would be ordering the full lifting of U.S. sanctions on Syria, many of which had been in place for decades.”Now, it’s their time to shine … Good luck Syria,” Trump said.Less than three months later, the Trump administration hit Syria with the highest tariff rate of any country in the world: 41%.Syria has…

Women (silhouetted) walk past Reserve Bank of India (RBI) logo displayed at Global Fintech Fest exhibition in Mumbai.Sopa Images | Lightrocket | Getty ImagesIndia’s central bank kept its policy rate steady at 5.5% Wednesday in the face of rising tariff threats from U.S. President Donald Trump.The move was in line with expectations from economists polled by Reuters, and comes after the Reserve Bank of India delivered an outsized cut of 50 basis points at its last meeting in June.RBI Governor Sanjay Malhotra, in his monetary policy statement, said the decision was unanimous. He noted that while global trade challenges lingered,…

Sam Altman, CEO of OpenAI attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., on July 8, 2025. David A. Grogan | CNBCOpenAI is in talks with investors about a potential stock sale at a valuation of roughly $500 billion, according to two sources with knowledge of the matter.The talks are in early stages and would involve a secondary sale with shares sold by current and former employees, said the people, who asked not to be named because the discussions are confidential. Thrive Capital, an investor in…