i'm joumanna bercetche these are your headlines. big day for brexit european leaders arrive for a second round of talks but progress is slow as the uk prime minister says her deal is the right one but eu leaders warn an agreement is still far off >> it was interesting. it was polite. it was not aggressive. she's doing her job. >> banks lead gains across europe as easing fears of a u.s./china trade war provide a

tailwind for markets. aston martin races ahead after announcing an ipo price that values the carmaker at 5 billion pounds. and old mutual shares rocket to the stop of the stoxx 600 after the financial conduct authority dropped a probe into the company's treatment of customers. we are just getting the announcement from the norwegian central bank about their monetary policy. central bank, this one has not really done anything, they kept the key policy rate at the current level. pretty much in line with expectations they were not expected to make any changes on monetary policy

they're updating their growth and cpi forecast from what i can tell the core cpi forecast in 2020 is pretty much where they were before, unchanged. actually correction. i apologize. they have actually raised interest rates i was reading a different headline they kept the key policy -- justified it by saying they kept the key policy rate at the current level for too long, and this provided justification for raising the rate to a bit higher the rate is currently 0.75%, so they raised by 25 basis points they are justifying it by giving slightly higher growth projections than what they had previously envisioned. so that is the announcement that has come out of the norwegian central bank here. they also said that the

expectation for interest rates for next year have not really moved as much as the market had anticipated going into this. so that is the news out of norway you can see dollar/krona has the dollar trading stronger. we will keep an eye on how that develops the rest of the session. the top story today, the brexit bargaining is heating up in salzburg as european leaders arrive for a second day of informal talks theresa may is feeling the pressure as she tries to convince her continental counterparts her brexit deal is the right one. jean-claude juncker said an agreement is far away. willem is in salzburg and has been monitoring developments today is an informal summit. so technically speaking we shouldn't be getting anything legally binding. yet there's a lot of scrutiny on how the talks will progress.

some are saying it's a seismic event, not just for the country but also for drem theresa may as well >> yes last night she spoke to the other 27 european leaders over dinner for around ten minutes. none of them really gave her reaction then. we have heard this morning from some of those leaders as they arrived here for yet more meetings lunch, she will be excluded from the room while they talk to michel barnier they will try to talk to him about what the political declaration looks like that's the element of the withdrawal that focuses on the future relationship between the uk and the eu. michel barnier will be waiting to hear about what they want that to look like based on the fact that it will have to pass parliament in the uk so it has to be sufficiently worth while for theresa may to bother presenting it to her. in terms of what she presented,

we had reaction from that when it comes to potential changes to czec czechs -- checks and we heard from mr. macron as to what he saw as challenges to some of those. >> we have heard principles about the irish border it was endorsed by 27 members. so we have to find collectively and we need a uk proposal preserving this backstop in the framework of a withdrawal agreement. >> ahead of this summit, the irish prime minister said that he had not really seen any concrete developments on that irish border question since that was ratified back in march he was sounding september c ini

into it, but this morning this is what he had to say. >> i had a very good meeting with prime minister theresa may and her team time is running short. there's another summit in october and then november. ireland is a country that wants to avoid a no-deal scenario. we want to avoteid a no-deal brexit we are putting in extra staff, officials, i.t. systems, but i think we need to redouble our efforts to make sure we have a deal it would involve withdrawal agreementviding for the uk to leave with a transition period, making sure that under all circumstances there won't be a hard border and also a joint political declaration outlining what that new relationship will look like. >> so outlining the things they would like to agree upon ahead

of march 29th. but nothing is agreed until everything is agreed that's one of the absolutes of this negotiation so unless this issue around ireland's border with northern ireland and the relationship with northern ireland and the rest of the kingdom is satisfied, it's almost irrelevant to talk about the other issues some think the uk is 85% to 90% towards an agreement, but based on some conversations this morning, it doesn't seem like others are so confident about that >> thank you for the latest from salzburg christopher peel joins us from tavistock investments. how important is today's informal summit in salzburg

versus the more formal summit in november for the trajectory of interest rates and the currency? >> i think it's another stepping stone to the end game. the end game will be the uk will leave the european union in march next year. i think that there will be a trade deal, primarily because europe needs it more than the uk when the uk has a trade deficit with europe, they're in the negotiating seat they have more of the bargaining chips. especially in light of the fact that with the trump trade tariffs german manufacturers, french manufacturers are concerned about losing access to the u.s. and then at the same time losing access to the uk >> so you think one reason we may be close to a deal is because the uk gaining leverage.

are they going hard on if you don't give us a deal, we'll pursue a no-deal brexit. >> i think macron and merkel were told by large manufacturing businesses in those countries, they told barnier you must get a deal done with the uk. you've been negotiating, but the reality is that we need a deal with the uk to protect our export markets >> i don't disagree with you on that, but even if they do come up with a deal in november, at the end of the day mrs. may has to take it back to parliament and parliament has to vote on it what we know right now with the configuration of parliament, at this point if she goes back with a photo copy of the checkers plan, which all sides have reservations at this point, it would be shot down the question is not whether eu give her a deal to work with,

but whether or not that deal she brings back to the uk parliament is something that everyone else can work with. i guess my question is whether or not the market is adequately pricing in parliament shooting down whatever deal she comes back with in november. >> it's hard to tell i think there's a lot of uncertainty. you look at how sterling traded the last couple of years, reached the low 120s fell from 150. at 132 i think the gaap risk on a trade deal/no deal is that the danger is sterling reverts back to the longer-term moving averages i think a lot of negativity is priced into sterling i think the uk equity markets are fairly priced given the level of what's going to happen post-march of next year. >> so in terms of your positioning, are you playing for the potential of a move down in

sterling at this point or just staying out of it because the outcome is binary? >> at the moment i'm running a full currency hedge back to sterling for my uk funds primarily because it's hard to model what will exactly happen but there's a magical figure of 120 that is talked about in the press. it may trade down, but there's a lot of speculative shorts in sterling i think the risk is to the upside, not the down side. if there's no deal, we knows there no deal. so that uncertainty goes away. >> that's one way to thing about it what about equities? uk stocks have not enjoyed much of the rally in the u.s. not so much in europe. there are many potentially cheap opportunities that have not been realized because people are too afraid to step into the market how are you thinking about owning uk shares at this point

in time? >> i don't have a strong view as opposed to against benchmark or neutral. i think the next play will be from the long side, when we get more certainty as to what the trade deal will look like. >> all right christopher, stay with me. we'll chat more about that shortly. coming up, find out how jpmorgan's jamie dimon sees the world after this break your brain changes as you get older. but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life.

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click, call or visit a store today. welcome back to "street signs. let's check in on how markets are faring a more muted session in asian equities overnight a milder tone. asian equities trading flattish. a bit weaker for chinese markets. this after the big bounce we had the last couple of sessions once the news of the tariffs came out. european markets this morning are looking slightly firmer. up about a third of a percentage

point. let's move on and talk about individual bourses here. all eyes are on this all-important eu summit. it's not all about brexit. many leaders have been aggregating in salzburg. our colleague, willem, was giving a briefing on brexit discussions. that's a focus for the uk markets. ftse trading flat on the day xetra dax and cac 40 up 0.5%, 0.6% ftse mib, more optimism going into the budget discussions next week, also up about 50 points. i want to talk about fixed income and some of the price action we had yesterday in the u.s. time. we're beginning to see the beginning of another selloff in fixed income space the ten-year is trading around 3.07 the highest level in four months

and very close to multi-year wide what we don't have is the two-year yields, they are at ten-year highs as the fed embarks on its hiking cycle. if you remember back in february, the catalyst for the selloff was the big jump in yields and ten-year yields with them moving again, we want to keep an eye on that for the trajectory of equities from here the norwegian norges bank raised its key policy rate to 0.75% in line with expectations it's the first rate hike in seven years and the norwegian central bank said it would continue to raise gradually in the next few years as the economy strengthens. versus the dollar, the krona is trading on the back foot today, about 0.5% weaker. perhaps because this hike was fully priced in. the swiss national bank has kept its rates on hold as expected citing the fragile exchange rate situation and rising international trade

tensions and protectionism the central bank kept its view of the swiss franc as highly valued and said it remained ready to intervene to stem the strength if necessary. the bank raises expectations for the swiss economy this year and cut its outlook for 2019 and 2020 the white house has nominated former fed economist nellie liang for a seat on the board of governors she is a firvisiting scholar she has been credited with developing the fed's office of financial stability in the immediate aftermath of the financial crisis double line capital's jeffrey gundlach says a game changer for the bond market is on the horizon he's telling investors to watch out for a rise in treasury yields saying a two-day close

above 3.25% would see bond prices across the u.s. yield curve fall. jpmorgan's jamie dimon said he is not worried about the yield curve and normalization is right for central banks to do. >> we had this global qe being reversed in the united states, it will be reversed elsewhere. but also there's the why and the what if we're growing strong, raising rates, reversing qe, i think that's fine. if it was reversed in a much faster way, if there's inflation, then central banks will do things we won't like people will get concerned about it but the world is growing, reversing qe is the right thing to do. >> speaking of interest rates, normalizing interrae ining intet does the yield curve look like >> i'm not worried about it. people are overestimating the

importance of the yield curve. the ten-year is over 3%. it should be closer to 4% today in a normalized world. we have 2% inflation i look at the underlying -- if the growth is good and the fed is normalizing rates, raising rates, that's a good thing >> christopher peel is still with us. you were saying you agree with jimmy jamie dimon, that normalization is the right thing to do. >> i think the qe programs were helping with the recession in 2008 it will be unwound the process of unwinding will be painful because the clearing level of yields will have to rise almost irrespective of what happens in the short end of the curve. but it's the final step to getting back to normal monetary policy on a global basis following the deep recession

from 2008 and 2009 >> the europeans and brits dragged their feet on that front. there are multiple comments coming out of the fed governors about where the fed will end up at in this cycle some people are saying the neutral rate they'll get to is about 3% beyond that they would be overshooting how many more hikes do you think are left out of the fed? how many are you anticipating on seeing over the next year or so? the reason i ask this is other people are saying at some point growth will slow down in the u.s. and the fed will be in a tricky situation because they overhiked. >> i think our best case is the fed hikes one more time in december two or three times next year i think that gets the funds rate back to a level closer to

equilibrium. the more relevant level of rates is what happens to the yield curve, the u.s. treasury curve, but also on top of that the corporate bond spreads there's been an enormous increase in the amount of u.s. treasuries financed because of the trump tax package changes and also the size of the bond market itself. corporate bond market has more than doubled in size since 2008 and 2009 all of this will need to be refinanced so investors and bond traders have to get used to a gradual rise in rates irrespective of what the front end is doingful the back end will weigh on investment portfolios over the next three years >> is it making you cautious about risky assets the last time we had ten-year yields up here, we had that shakeout at this point in time ten-year is close to 3.10

do you think beyond this, if the yield selloff keeps going, u.s. equities could look exposed? >> i think u.s. equities will start to look less better value the higher interest rates track. you have to see rates, ten-year rates, for example, north of 3.5% with inflation around 2 real yields around 1.5 before equities start to look bad value. i think there is still another leg up in the u.s. equity market fundamentals are good. earnings have been stellar and the core fundamentals remain intact >> how are you positioned in the market we have the trade war narrative in the background. so far there's not a tangible impact on the u.s. economy, but we are seeing it in chinese markets. the other narrative is one of the fed tightening as well so where do you see opportunities putting all those

things together? how are you playing it >> i look at the two biggest economies in the world, the chinese and u.s. economies combined they're growing above trend. and as long as the combined growth of those two countries remains intact, the rest of the world will continue to benefit from that. i'm not as pessimistic about em as a lot of people are i think there's problems in a handful of em countries. brazil,russia, argentina, sout africa the contagion to the wider em space has been overdone and presents an opportunity primarily in equity as opposed to bonds >> you have not reassessed any of your views based on the trade tariff going on. i also ask this specifically with the tech sector as we discussed in the last couple of days tech was front

and center of this next round of tariffs and what that would mean for supply chains there. >> i think our view on tech is it's hard to value we would love to buy the nasdaq 100 without the top five stocks in it, mainly because it's hard to value -- these valuations are incredibly high. but in the core of the technology sector there's value to be had. so trying to pinpoint sleeves of various sectors. >> chris, we have to leave it there this morning some company news for you, rio tinto announced a 3$3.2 billion share buyback. the miner has a 1.7 billion program already in place it will be funded by proceeds raised by the recent sale of coal assets. shares in rocket internet are trading higher after it launched a share buyback program

worth 150 million euros. the technology company is considering 4% of the shares for buy pa buyback. coming up, flying high we'll talk with rupert prceae of inmarsat next.

. welcome to "street signs." i'm joumanna bercetche these are your headlines big day for brexit european leaders arrive for a second round of talks but progress is slow as the uk prime minister says her deal is the right one but eu leaders warn an agreement is still far off >> it was interesting. it was polite. it was not aggressive.

she's doing her job. aston martin races ahead with a planned october flotation after announcing an ipo price that values the carmaker at 5 billion pounds all right we've just got some uk retail sales data and the number has come in at 3.3% year-on-year versus 3.8% expectations the poll was -- sorry, i should repeat the number came in at 3.3 year-on-year versus the previous month's number of 3.8%, but higher than the poll number of 2.8% so it's a beat on the retail sales number versus where it was called to come in at.

slightly weaker than what we had in july. july was a bumper number there fueled by some positive -- the warm weather and world cup effect ex-fuel, the number was 3.5%, versus expectations of 2.5%. we're seeing a bit of a bounce in sterling. trading up as close as 1.32 after this number came out stronger consumer spending numbers out of the uk. let's talk about the broader fx complex. we talked about sterling we also have euro trading stronger dollar is trading on the back foot versus those two. euro about a quarter percentage point firmer and dollar/renminbi is in focus as the tit-for-tat between the

u.s. and china goes on the renminbi is a bit weaker today versus the dollar. we have all of the makers trading in the green ftse lagging a bit close to the flat line as we head into the salzburg summit. a lot of questions about what will come out and whether anything tangible will come out of today the rest of the indices are trading in the green as well xetra dax, cac 40, ftse mib all of them up about 0.4%, 0.5%. another top story, inmarsat has announced a commercial deal with panasonic. and rupert pearce, the ceo of inmarsat joins us today.

can you walk us through what sort of opportunities you're seeing on the back of this >> this alliance comes together on the back of a tremendous new growth opportunity in connectivity, which is providing connectivity to passengers on commercial airlines. it's exploding in terms of passenger demand globally and something like 25,000, 30,000 airplanes are predicted to be connected airplanes within the next ten years so we need a series of capabilities that can meet that challenge and demand and turn it into a profitable engine for growth what you're seeing today is the largest most successful mobile satellite network, inmarsat enter into an alliance with the largest airline services entertainment partner, panasonic. those two organizations coming together, i think, will be good for the industry it's a tremendous endorsement of

global express, our next generation network because panasonic is jumping on board. but it is also good for innovation in our industry and for the customer experience. >> i was reading a note from credit suisse that says about 85% of people on planes want to connect to the internet. only about one-third of flights actually offer wifi. why has the takeoff been so slow >> i think we're in the early adoption phase it's only been recently that we had the technology to deliver global mobile broadband from space. inmarsat only launched about 18 months ago, now we're seeing the pull of passenger demand the interesting thing is that market commentators and economists are recognizing that this is an enormous deal for the airline industry the london school of economics eventually said that over 1$130 billion of new revenues will be created on the back of this

connectivity and this is a huge deal for everything from e-commerce providers, marketing companies, but also airlines, the same report said that airlines could generate more than $30 billion in new revenues from the connected passenger. >> do you have a timeline for when you think almost every single plane will be connected >> we'll see that within a decade we'll move from a retrofit market at the moment our time is going in, taking aircraft out of service, installing equipment and then going back into service. within five years it will be the norm to buy a new aircraft fully equipped with connectivity >> won't this entail a lot of investment on your end do you have the financing secured for that how are you planning on securing it >> we're lucky that we have by far the world's most capable and competent network today. but we'll build on that. we have three more satellites already in order to deliver

complimentary capabilities over the horizon we have plans to continue to invest at sustainable levels into growth and demand so we're confident that we can meet demand. >> the maritime sector has been your best performing part of the business you are expecting aviation to take a good share of that away in the future? >> i think the answer is yes long-term i see our aviation business becoming our biggest and most cash generative division today it's small relatively. but it's growing at over 100% a year our maritime business is also a large cash generative but modest growth opportunity >> 100% a year big numbers. robert, thank you for coming in. congratulations on the announcement of the deal today canada said it needs flexibility from the united

states to reach a new nafta deal after talks resumed in washington chrystia freeland said negotiations had been constructive and she would meet robert lighthizer again later today. a break through appears unlikely this week as a u.s.-imposed deadline as october 1st looms. as president trump turns up the heat in trade talks around the globe, there's signs congress is trying to flex more muscle ylan mui has been looking at the latest developments in washington >> reporter: top trade officials from the u.s. and canada are back in washington hoping to nail down a deal on nafta. chrystia freeland told reporters that the talks had been constructive but more work needs to be done >> we are a country that is good at finding compromises and that's a challenge our negotiators certainly demonstrate. at the same time, our core

objective today -- and this has been the case from the beginning is to defend the national interest that's what we are going to continue to do >> october 1st is the deadline for negotiators to produce the written text of a formal deal and it's unclear if they will pull that off if they don' reach an agreement in principal by the end of this week. lawmakers must vote to accept any trade agreement and some of them are getting antsy congressman steve scalise a member of gop leadership warned lawmakers will not short circuit the open and transparent and accountable process. if negotiators can't reach a deal, he said, congress will have no choice but to consider other options. but when it comes to china, congress is taking a back seat as president trump turns up the heat with new tariffs on the country's exports. nearly a dozen bills have been introduced over the past few months to rein in president trump's trade powers by requiring more consultation with congress

none of those bills have gotten very far, however, leaving one republican senator saying, he feels like a helpless bystander. jack ma has walked back a fledge to create 1 million jobs in the u.s he said his january 2017 promise to then president-elect trump was based on friendly/u.s. china ties and that the premise no longer exists due to the trade war. ma overnight reiterated his call that trade frictions will last 20 years jamie dimon has down played fears over global trade tensions calling them skirmishes. but speaking to cnbc dimon added he does not see a resolution to the spats coming any time soon >> it's not a trade war. i call it a trade skirmish the american government, our president, is right to raise

issues about china we would like to see a nafta deal done. the strategy about fixing it is different. it's unclear where we will get to if you look at tariffs on 200 billion, just make believe this all got passed to american consumers, they have to pay another $20 billion, it's a 2$2 trillion economy so the economic effect is not dramatic there is an effect on the psyche, the mind, it could become a trade war right now it's trade tit-for-tat. hopefully we'll get to resolution i don't expect a trade war i also don't expect progress before elections you have to wait until after november to see progress >> what would can't quantify a e war? >> more countries getting involved, people stop investing money because they're not sure where they should invest money right now it's a bunch of skirmishes, which hopefully

leads to a good outcome. i think you can offset some positive from regulatory reform, tax reform and other pro business policies. >> what would you expect the next leg of this trade skirmish? we had wilbur ross on cnbc saying china perhaps doesn't have too much ammunition left. the chinese responding saying we have sufficient tools to take on the u.s. what would you expect in terms of the next steps? the next measures? >> i don't know. we can raise tariffs more, we can add tariffs to more things the chinese will retaliate in other ways i don't think that's good. it's not a devastating thing it's not a war it's a trade skirmish that can have negative economic effects all things being equal global cfos believe a demand slowdown is the biggest external risk factor for their companies according to the latest cnbc/cfo council survey

other worries are cyberattacks, however fears declined sharply from the last quarter. u.s. trade policy remains a concern but only 10.4% of cfos consider it the biggest threat for their firms. 64.5% of respondents say trade tensions will weigh on companies, just 2% think their companies will be better off with protectionist policies. half have made con tin sent ji pl contingency plans regarding trade. 8% said their company had to hike prices. our colleagues in asla spoke wi asia spoke with the cfo of thailand he said trade tensions were becoming routine >> when you look at the uncertainty under trade conflict when you look at uncertainty on interest rate policy, you look

at the volatility in the currency market, you see so many uncertainties at the moment, but however all these uncertainties become a norm that you see more volatility that's why i cannot say whether it's the end of the fund outflow from the emerging economy as a whole. for me, the foundation of economy is strong, the ability to generate earning growth is strong, i would say those emerging countries would be the first countries that the foreign investor would turn back into. >> head to cnbc.com for a full breakdown of the results of this cfo council survey amazon plans to open 3,000 cashierless stores over the next three years. they plan to expand the amazon go offering which already operates in seattle. target and kroger fell on the

news separately amazon is testing a new service called scout which will provide automatic recommendations for products on its platform. eu regulators say they're looking into whether the ray amazon uses merchant data stifles competition. european competition commissioner said the issue was about the company hosting merchants on its amazon marketplace website while also competing against those retailers using data from their sales. aston martin says it will seek a valuation of up to 5 billion pounds in its initial public offering. the british luxury maker made famous by the james bond movie franchise will offer shares of 17.50 pounds to 22.50 pounds aston martin will announce a time price next month and shares will be admitted to the london stock exchange on october 8th.

coming up, ronaldo sees red. more from an eventful night in the champions league coming up next gives you the strongest hold ever to lock your dentures. so now you can eat tough food without worry. fixodent and forget it.

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welcome back we need to make a correction here old mutual shares are trading slightly lower in london reuters data is showing a surge in the london listed shares. this is after the financial koc conduct dropped its probe into old mutual and five other life insurance companies over their treatment of customers the regulator said they found new issues with how the firms treated closed-book customers but these had been addressed as part of ongoing supervision. japanese prime minister shinzo abe was re-elected to another three-year term as leader of the ruling party >> abe who turns 64 on friday

soundly won the election by collecting 550 of the 807 votes cast his challenger got less than half of each group controls half of the total votes. though the results gave abe a solid win, some say his rival gathered more votes than expected and that shows there's some discontent probably due to abe's longstanding goal to revise the nation's pacifist constitution prime ministers are now allowed to serve for three consecutive terms instead of two and because the ruling democratic party hold as majority in both houses of parliament, the head of the party becomes prime minister abe will become the longest serving lead ner in modern times

as well as looking to preside over the 2020 olympics in tokyo. many economists say much will stay unchanged with the bank of japan keeping its ultra loose monetary policy, and continuing on its path of economic growth strategies to bear fruit back to you. >> thank you for bringing us the latest there anyone who has invested in japanese assets has been watching that story closely. the united states has signaled its intention to resume negotiations with north korea after mike pompeo invited the foreign minister to new york for a meeting this week. this comes after pyongyang said it was ready to dismantle several missile bases if washington agreed to certain terms. the u.s. has previously set a

2021 date for the complete denuclearization of north korea. richard engle has the latest >> reporter: kim jong-un pulled out all the stops to welcome moon jae-in to north korea with cheering crowds, an intimate launch and o lunch and one of those stadium shows, all for this. today, both leaders promising to ease tensions and kim jong-un promising to scale back his nuclear weapons program. to turn the korean peninsula into a land of peace without nuclear weapons and nuclear threats, kim said. kim agreeing to close his main missile testing facility, and saying he'll close his biggest nuclear complex if the u.s. takes corresponding measures north and south korea also

agreed to create a no-fly zone on their border. >> those mountains you can see there. you can see into north korea there. >> reporter: meaning u.s. air force flights like this one we recently joined are in principle now no longer allowed. >> prior to becoming president, it looked like we were going to war with north korea and now we have a lot of progress. >> reporter: but north korea has so far done nothing to get rid of the nuclear bombs it already has. and u.s. intelligence officials have told nbc news they believe north korea is still making nuclear weapons. that was nbc's richard engel there. well, cristiano ronaldo left the pitch in tears after being sent off 29 minutes into his champions league debut for juventus his side went on to beat valencia 2-0 in spain but the 100 million euro forward faces a one-game ban adam joins us.

the good news is juventus still won. >> yeah. ronaldo likes grabbing the headlines but not in this way. just a half hour into his debut he was given a straight red card they could appeal that but they run the risk of being given a frivolous extended ban it was innocuous it was off the ball. he was deemed to have grabbed the hair -- >> you don't think he should have gotten the red card >> that's not for me to decide, but it seemed harsh. ronaldo was deemed to have had violent conduct. whether or not he grabbed the hair of the valencia defender, that's up for juventus to decide whether or not they want to appeal but, yes, juventus did still win the game >> i was reading that out of all the sides, juventus have 26 red cards in total, 7 more than any other side in the competition.

they have had some tough defenders in their team. some particularly tough players through their team historically. so no nonsense normally, juventus but they are the most successful club in italy for a reason, and one of those reasons is a desire to win and ronaldo, that was his 11th in his club career he's no stranger to seeing red himself, but you're more used to seeing him score goals over the weekend he scored a couple goals, but no smiles last night when he got a red card i'm sure he'll be happy the team won. he will be back later on in the group stages >> adam, stay with us. i want to bring headlines from sky. uk's takeover panel says the auction procedure for sky will consist of a maximum of three

rounds which will all take place on the 22nd of september, 2018 they said they established the auction procedure and it's expected to start at 5:00 p.m. on september 21st. it will end during the eve of september 22nd so a full day for the auction to start taking place the procedure will consist of a maximum of three rounds which will all take place on september 22nd so that is in two days time. we've been watching this story closely to see what transpires with the future of sky comcast on one side bidding. the parent company of cnbc on one side, then disney and fox on the other. we will be watching this at least we know now the panel date has been set. we know it will be a one-day takeover session it says if the sky auction

procedure is not over after the second round, they said there are three rounds, and the final round will be held where both offers may actually be given the opportunity to make an increased bid. so we'll watch out for more headlines on that announcement when they come out i have to thank you for bringing us the latest. >> you're more than welcome. >> before we head out, let's take a quick look at how u.s. futures are looking before the u.s. session opens up. we have the dow opening up higher, 30 points higher nasdaq 2 points higher that's the picture for u.s. viewers, that's it for today's show dicest wh rope european union auen, ayitus so while he's proud to have helped put a roof over the heads of hundreds of families, he's most proud of the one

he's kept over his own. brand vo: get the most out of your money, whether you're using quickbooks smart invoicing to get paid twice as fast or automatically tracking your mileage. smarter business tools for the world's hardest workers. quickbooks. backing you.

it is 5:00 a.m. on cnbc, here's your top five at 5:00 do not call it a trade war that's what jamie dimon tells cnbc in an exclusive interview overnight. jugg egernaut walmart. wall street near an all-time high a make or break moment for brexit negotiators and forget about the crypto craze, the pot