he is taking a company building less than 100,000 vehicles a year compared to fiat chrysler that does a year and ramping into a real company. in a sense tesla is an adolescent, and they sometimes do a little crazy things, so you have to be patient with it and see what happens look, the guy is an extraordinary guy. we'll see how this plays out he sure is doing something special. >> thank you both for joining us today. mike volpi, mike santoli >>> twitter is banning conspiracy theorist, radio host ntvey.f es after weeks o corors "squawk alley" will be right back n speak to the future. n speak to the future. ♪ ♪ i'm going to be your substitute teacher. don't assume the substitute teacher has nothing to offer... same goes for a neighborhood. don't forget that friendships last longer than any broadway run. mr. president. (laughing) don't settle for your first draft. or your 10th draft. ♪ ♪ you get to create the room where it happens. ♪ ♪ just don't think you have to do it alone. ♪ ♪ the powerful backing of american express. don't live life without it. >> stocks are mixed to finish the week

questionn about what is next for fiat chrysler.lation that the company would seek a merger. is accusingfounder conspiring to of himhim from the -- oust from the company. the founder step down after admitting to using a racial slur. alix: thank you so much. we will drill down on wages and the impact of a has had on the sector. companies like nucor, alcoa may have benefited from the increased tariffs on steel and aluminum. will they pass that on to their workers? gina smiley, are we seeing a positive impact from the trade war on this front? gina: one interesting thing in the way this has played out on the ground is you have seen one ine bonuses, not increases base pay. what steelworkers are campaigning for is that increase in base pay that they have not been seeing. they have seen increased money from profit-sharing, but with a want is something more sustainable that can last. i think that is interesting because it plays into this broader story in the labor market where you are seeing a lot of one time or nonwage benefits rather than

it's hitting gm and fiat chrysler.will effect consumers. >> it will effect the bottom line in terms of what consumers are paying. we don't know to what degree. it's taking some time for the full cost of more expensive aluminum and steal to go through. it's not just the panels on a vehicle that are being impacted here. it's the aluminum and steel that goes it's the aluminum and steel that goes into thousands of components. then the automakers have to make a decision. see as a result it's too early to know exactly how much prices will rise, but the expectation is, yes, prices are going to go up because of higher raw commodity prices. the president it's not going to be as quickly as he says he could do it. that's a huge threat, particularly for generation motors, fiat, chrysler, toyota, honda. it they all have a huge presence up in canada. canada is the number two country after mexico in terms of vehicles we import from another country. so it would be devastating if we were to see tariffs slapped on vehicles built in cana

juliette: fiat chrysler world -- will -- of buyers.kr offered less than the 6 billion euro minimum valuation, which ended the exclusive it he of the talks -- exclusivity of the talks. the unit prepares to separate them a land-based company and distribute shares to investors andhe melania-based company distribute shares to investors. sanctions have frozen a russian aluminum giant out of annual contract negotiations. that could disrupt supply chains critical to the industries. the global aluminum industry has been bracing for further turmoil ahead of an october 23 deadline. says he ceo jamie dimon is done with politics and blames much easement for his claim -- machisimo for his claim he is smarter than donald trump. he says the current administration is handling the economy well. last week he boasted he could beat the president in an election. >> i should not have said it. more out of frustration and my mo. much you simao -- machisi it proves i would not be a good politician. nejra: thank you. let's take a look at live pictures. it is 1:

deal and really big would be the first big deal from the new ceo of fiat chrysler.rkets we are losing a little bit of steam. s&p futures slipping into negative territory. nonetheless sort of a calmer day. a couple things going on here. there was a report be a time government would be looking for 10 million euros -- 10 billion euros for its citizen income program. that has been denied that there are concerns about the finance minister being forced to resign. -- but there are concerns about the finance minister being forced to resign. crude up by 1%. the risk premium gets priced in a little bit. david: at 8:30 eastern time, we are going to get u.s. ppi numbers for the month of august. later, we will hear from two fomc members. is going toasury auction $23 billion in 10 year notes at 1:00. at 2:00 this afternoon, the fed will release its beige book. now, we want to find out what is going on outside the business world. we turn to emma chandra with the "first word news." emma: hurricane florence is taking aim at north carolina in the most powerful storm to hit the state

fiat chrysler seeking $7 billion for auto parts, and is in exclusive talks with equity firm kkr, howevernd is aiming to pay less for spinning off the union -- unit have deteriorated. it has a japanese parts maker. haidi: elon musk says tesla is overwhelmed by demand. largeeted, due to a increase in vehicle delivery volume in north america, we experience larger -- longer response times. would be tesla in do or but ultimately successful debut in new york. after pricing shares at the low end. this is bloomberg. ♪ xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. haidi: it is a: 30 a.m. here in a.m. h

initials speculation was there was going to be built at a fiat chrysler facility in mexico.imeline for this new pickup truck, 2021. that has been moved up since 2022. and what about this? cannabis:hitting the market. >> considering moving to the whwh market for cannabis infused drink, they are watching the chemical and marijuana believed to relieve pain and anxiety. this space is evolving quickly. no decisions have been made at this time after a report in bloomberg which the coca-cola was in talks with a canadian cannabis company who would not comment on this but we will wait and see. heather: it is national cheeseburger day. never too early to have a cheeseburger. we are submitting with 3 burgers. >> wendy's is turning this into a month-long celebration. when you order something from the wendy's apps you get a free burger. >> got to get my hair done. here it comes. >> i love dipping the wendy's fries and going for that. through the environment. >> lots of other deals for national cheeseburger day, red robin, and doing things to celebrate the day. >> stand behind me. i am th

fiat chrysler has put more than a $7 billion price tag on it corporate unit -- car parts unit.vate equity firm kkr is hoping to get a lower price. chrysler had a competing offer from apollo. city group facing down's skeptics -- skeptic second region's financial goals as it raises of profits and attributes part of the approved outlook to u.s. tax reforms an additional investment spending. that israel bloomberg -- that -- that is your business flash. vonnie: lehman brothers fell 10 years ago, the official beginning of the financial crisis. we are talking with key players recovering from the crisis. they were then and today they are around to tell their story. welcome angel gurria, oecd secretary-general. thank you for joining us. you are about to have a conference about what you learned from the conference and whether the global financial system is more resilient now. what is the conclusion? is it resilient enough to withstand a future financial crisis? >> we have made a lot of progress on some of the tech go aspects. we have made progress in capitalization. most banks are 7-10 t

. >>> fiat chrysler is seeking money for a unit on rolls royce, falling after an issue with an emergency made forc fora plane force a landing. >>> let's get over to sue her a herera. >>> good morning here's what's happening at this hour european union lawmakers have voted overwhelmingly in favor of launching actions against the hungarian government for allegedly undermining the blocks democratic values and rule of law. this could lead to a suspension of the eu voting rights. >>> russian president putin says russia has identified the two men that britain names as suspects in the poisoning of a former russian spy and that there is nothing criminal about them he insisted they do not work for the russian military >>> chinese president xi and japanese prime minister abe meeting on the sidelines of an economic forum and talked about further improving the bilateral ties. >>> here at home, the fda says teenage use of e-cigarettes has reached epidemic levels and is calling on the industry to address the problem or risk having their flavored products pulled off the market. the five largest e-cigar

we will take a look at what you need, including fiat chrysler. bloomberg. ♪ ♪ >> good morning, this is "liberty markets: european open." let's get the stocks we are watching. benedikt kammel joins us. he is looking at casinos. what are we looking for from this italian car giant? >> good morning. we heard over the weekend that fiat has dropped exclusivity sale of its car parts business because the price is and what they wanted it to be. fiat once at least $6 billion and kkr is offering a billion less. sale of its car partsthere are other private eqy companies swirling, so this is a test case for the new ceo, who tok over a couple weeks ago pull back and say the time is not right. they are hearing the stock is down because investors have hoped the money would be in the bank. >> what's the latest on the casinos? ceo is fighting back attacks from short-sellers that plunged his stock to a 22 year low over the summer, while the french retailer announced overnight that it will finally have 500 million euros in fresh liquidity. the company is heavily ind

volume it is 7 or 8 in terms of auto involve yuchlt lit not move the needle a lot for ford or fiat chrysler lot like japan in the sense that it was a protected market when it started opening up the u.s. auto makers were not making the small vehicles and concentrate tong types of vehicles that the people in this country want today buy as a result they didn't put a lot of effort into it. gm also had a subsidiary there for a number of years yes they do have plants here and build more here than they have built in the past. they export from south korea to here if we were to say we will put tariffs on vehicles it would definitely hurt that industry. >> thanks very much for us in chicago. coming up we'll speak to trump's top trade adviser. we'll get his reaction to that event and much more. negotiations front and center. >>> cannabis stocks have been on fire lately. >> matt gaetz will join us to scs at and his views on the latest trade developments. we are back here in a couple seconds. wow, the new iphone really exceeds all expectations! yup! and, by getting the iphone with our unlimited plan, yo

shery: fiat chrysler is evaluating potential buyers for their really parts unit. -- morelli parts united $7 billion that ended the, but exclusivity of the talks. a final decision has yet to be made. the cio may perform -- prefer to spin it off on the if stock exchange. -- of the stock exchange. haidi: the people's insurance company added to -- hedge funds called to a management and q1 capital are planning to buy in. million u.s.$377 in the hong kong offering, several times as prescribed. jack ma is a cornerstone investor. let's take a look at some of the stocks we are watching. what is on your radar? sophie: with japan off-line for markets, checking in on what is going on in seoul. we are looking at samsung mechanics according to a report that it is to build an electric conference family -- factory and be completed by the end of 2019. also watching on me tell which owns a stake in beutel, which is dropping anonymous accounts to boost transparency. also monday motors after they promote -- hyundai motors after they promote a new vice chairman. that is closer to succeeding his 80-year-old

the chairman of fiat chrysler has reaffirmed the companies plan to stay independent. the future is one of tilting, not one of raking. he has been questioned about what is next following the death of the long time ceo. there was speculation they would seek a merger. british airways has been rocked by a data breach, shares fell by the most in seven months after the airline revealed hackers made off with credit card data transactions. it lasted for more than two weeks. that is your business update. lisa: sticking with the airline industry the president of emirates says global indices may appear negative but it could end up with a more equitable relationship between nations. >> is there a reset going on? is doing isne, who one thing. is there a reset, includes outng forward 3, 5, 7 years produce a healthier global economy without over domination? short-term there may be volatility, yes. longer-term is it likely to reset itself, i think so. the digital way estrogen world is changing everything. in the airline industry in general. we will just have to navigate our way throu

built cars does that hurt canada or does it hurt the american-based companies, and i consider fiat chrysler for intents and purposes an american based company. does it hurt the american based companies almost as much as it hurts canada >> this is the longest trade relationship border in the world. we have an integrated supply chain especially in automobiles. any tariff like that is bound to hurt american companies. i think the president would be better advised tactically to renegotiate nafta, call it something else, call it the trump north korean trade agreement, that's fine i think it would be fine for everybody i think the president is right about china, but he's not going to be as effective on his china trade complaints if he's still at war with canada, mexico and europe those countries, i think, would like to get behind him, at least quietly on china, but not if he's raising the stakes in this case with canada. >> the backdrop to all of this, ambassador, is china seems to be ready for the long haul, the long fight it has some of its prominent citizens like jack ma saying this could last

last four months of the year we talk to former cisco strategy exec, a board member atrophy -- at fiat chryslerley." the lexus ls 500 and ls 500h. experience amazing at your lexus dealer. with pg&e in the sierras. and i'm an arborist since the onset of the drought, more than 129 million trees have died in california. pg&e prunes and removes over a million trees every year to ensure that hazardous trees can't impact power lines. and since the onset of the drought we've doubled our efforts. i grew up in the forests out in this area and honestly it's heartbreaking to see all these trees dying. what guides me is ensuring that the public is going to be safer and that these forests can be sustained and enjoyed by the community in the future. >>> welcome back the energy sector is extending losses after the worst day in three weeks, on pace for the sixth straight negative session. crude oil heads for the worst week since july. watch those stocks back tyoo u, carl. >>> dow down 15 points "squawk alley" is up next. making my dreams a reality takes more than just investment advice. from insurance to savin

fiat-chrysler has decided to bring back the ram heavy duty truck from mexico, investing a billion dollars hiring thousands of new employees and doing by itself an enormous substantial new economic investment to our state which will make a real difference. and that is just one example. but it is not just our auto industry and manufacturing that benefit from tax reform. our main street businesses are being benefited as well. they're growing, they're hiring workers, and i hear all of the time about new expanded benefits. in my home town the main street downtown is called rochester road and rochester road we have everything on that street locally owned car dealerships, jewelry stores, restaurants, clothing stars, law firms, accounting firms, you name it, we have it. i've talked to each one of these folks and every sector of this part of the economy, and they've told me about their positive feelings about tax reform and how it's allowed them to reinvent in their companies and in their business and in their workers and continue to make my city, my home town of rochester a great place to work, l

fiat chrysler is looking at other potential buyers for its parts unit reports say the automaker got a but it considers that to be too low. >>> a new report says that ai, artificial intelligence, and robotics will create almost 60 million more jobs. artificial intelligence and its impact on jobs has become a hot topic of debate. many experts have said -- ai will also create new jobs and there's an analysis out from global audit firm wpc making similar predictions. it says ai and robotics could boost productivity and create better products and services >> before we do movies really good, dona, jail was started by will wide who was one of the activist informsers. >>> the sci-fi thriller earned $24 million in its opening weekend. film encountered some controversy when it had to cut a scene featuring an actor that was a registered sex offender. "the nun" went to second place in its second place. following closely in third was "a simple favor" is $16.1 million for its opening weekend. >> he was a horse. >> who was a horse >> donarail. >> the horse that ran? >> upset the big favorite of the

. >>> let's check fiat chrysler. 10% rise in their august auto sales.stock, there we go, up fractionally. volkswagen also had an increase but a much smaller increase. those shares i think, we will get those up in a moment. meanwhile, there's volkswagen down. nissan, 4% rise in sales from a year ago. these monthly auto sales numbers will continue to come out. most of them are right around the same, either slightly up or slightly lower. >>> check this out. carnival unveils its largest cruise ship ever. >> it's a beast. charles: it's 1100 feet long, 20 decks, 6600 people. it is literally a city, 17 restaurants, 23 bars, casino, water park, climbing wall, miniature golf course. why not a full golf course? it sets sail in december for the canary islands. go figure. i don't even know where to park that bad boy. it is impressive. huge. >>> then there's this controversial story of the morning. nike teaming up with colin kaepernick for its 30th anniversary of the "just do it" campaign. is it smart for a big company like nike to join with such a controversial per

are built in canada last year and there are automakers like general motors an fiat chrysler would be the hardest hit by any import duties if they can't get a deal done with canada. maria: that would mean a t price of cargoes up. dagen: that hits home, the wall street journal has story that farmers are saying, the aid, the bailout, the welfare from the federal government that they are get to go offset the retaliatory tariffs won't cover the tariff damage. so this is a political issue as well as a financial and economic one. maria: yeah. >> i agree with you, dagen, the case is that it won't have consequences, it clearly will and is and the case they need to make to the american people is why it's so important why we have to counter china, why we are doing this. and i think if the president continues to make the case the struggle with china is challenge of generation and have gone unchecked for the past 30 years, we all know, you know, stealing the -- maria: it's a national security issue given what chinese is doing in south china sea. dagen: any business owner that's been hit or hurt b

taking a look at the shares of fiat chrysler, up about half a percent. those are your headlines.olitics. the highlights and low lights from the emmys last night. that's next. ♪ hey, what are you guys doing here? we've been helping you prepare and invest for retirement since day one. why would we leave now? because i'm retired now. so? we're voya. we stay with you to and through retirement... with solutions to help provide income throughout. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that, uh, tie. or the suit. or the shirt. voya. helping you to and through retirement. designed to save you money. wireless network even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfi

watching ford sales today, there is some expectation that perhaps, perhaps, they could eclipsed by fiat chryslerust in terms of sales also a note from lmc automotive, taking a look at china auto sales, this came out overnight, third straight month if you include july now that sales have dropped month over month in china. a couple factors there there was the expiration of a tax that was an incentive. and also lower consumer confidence particularly on some of the areas that are being hit hardest by the trade war with the u.s., those in the export cities along the coast volvo outreporting u.s. sales up 12.2% in the month of august and overall sales in china up 18% as we wait to see whether or not volvo does move forward with an ipo later this year. back to you. >> phil, great stuff thank you very much. >>> let's get back to the broader markets. joining us now, when we look at the market performance in august, the u.s. really only significant bright spot and then toechld foreign m developed foreign markets, emerging foreign markets really disappointing. is it time for any of those to play catch up a

specifically i will mention one, fiat chrysler has decided to bring back the ram heavy duty truck from mexico investing $1 billion hiring thousands of new employees in by itself doing an enormous substantial new economic investment to our state. which will make a real difference. that is just one example. it is not just our auto industry and manufacturing that benefits from tax reform. our main street businesses are being benefited as well. they are growing, hiring workers, here all the time about new expanded benefits. in my hometown the main street downtown is called rochester road. rochester road leave everything on that street. locally owned car dealerships, jewelry stores, restaurants, clothing stores, law firms, accounting firms.you name it, we have it. i have talked to each of these folks in every sector of this part of the economy. they told me about their positive feelings about tax reform and how it has allowed them to reinvest in their companies and business and workers. and continue to make my city, my hometown of rochester a great place to work, live and raise a family. ju

chrysler,r -- fiat kkr offered less than the 6 billion euro valuation which ended the x facility of thethe italian carmaker can evaluate other offers it received while it prepares to separate the milan-based company and distribute shares. david -- jamie dimon says he is done with politics. that he has no intention of making a run for the white house, saying the current administration is handling the economy well. last week, he boasted he could beat the president in an election before rapidly backing away from that claim. >> i shouldn't have said it. more out of frustration and my on mckee's not, but i should not have said it -- my own much ease know, that i should not have said it. much.ne: thank you so frankfurt as its post-brexit hub. is assuming there will not be a deal between the u.k. and the eu. >> we are preparing ourselves. is fact, whatever solution coming out, de facto no longer relevant for us. a few weeks ago, we had to make a decision to go and execute for a worst-case scenario. de facto, the financial system isn't really operating under the assumption that there is no agre