A Deal Off, A ‘Kill Switch,’ & A Saudi Trip 7/11/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 11 July 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Elon Musk is over Twitter. He’s aiming to terminate the $44 billion dollar deal, and Twitter’s ready to take him to court over it, but Musk is seemingly unbothered by the drama. Former SEC Chair Jay Clayton maps out the various outcomes at this stage in Twitter-Musk saga. Covid cases are ticking up as we head into the end of the summer, and while most of us have readjusted our individual risk calculus to allow for normal life, former FDA Commissioner Dr. Scott Gottlieb suggests keeping our masks on. Leaked documents from Uber’s past are raising questions about the company’s ethical foundation, and Starbucks is rolling back a new, potentially questionable offering. Plus, President Biden is gearing up for his first in-office trip to Saudi Arabia. In this episode: Dr. Scott Gottlieb, @ScottGottliebMD Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi there, I'm C.N.C. producer Cameron Costa.
0:08.0	Today on Squawkpad, a $44 billion dollar deal terminated.
0:13.0	Elon Musk is dropping Twitter, but it won't be that easy, says former SEC Chair
0:19.0	Jay Clayton.
0:20.0	We have rules around communications with the market in times like this.
0:24.1	I think you're going to see some regulatory scrutiny here around that type of communication.
0:29.4	And COVID cases are ticking up, but we keep on keeping on how we've all reset our risk calculus
0:36.9	when it comes to health with Dr Scott Gottlieb.
0:39.7	We're building a tall wall of immunity and that's why you're seeing this infection have less and less consequence as these subsequent waves come through.
0:46.7	Plus some questionable leaked documents from Uber's past and careful diplomacy.
0:52.4	President Biden gears up for a trip to Saudi Arabia.
0:56.0	And I still believe that we wear a white hat for the most part.
0:59.0	I like to believe it all the time.
1:01.0	We'll wave the battery of Putin. And for the battery to put on.
1:02.7	And then the question is, do you want to play with those who are in the black hat?
1:06.2	It's Monday, July 11, 2022, and Squawkpot begins right now.
1:12.4	Stand to enter by in three, two, one, you Andrew.
1:16.0	Good morning and welcome to Swackbox right here on C.
1:19.0	We're live from the NASDAQ market site in Times Square Manager Ross Thornton,
1:22.0	along with Joe Kern and
1:23.0	Becky is off today. This is just the boys. Is that that's a new tie isn't it? I mean I
	...

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