AT&T CEO John Stankey & Tesla’s Crypto Dump 7/21/22

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 21 July 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Consumers are taking longer to pay their bills, says AT&T CEO John Stankey. In an extended interview, Stankey discusses the pulse of the American consumer, as well as his company’s renewed focus on 5G and smart devices after the company spun-off its content business, WarnerMedia. In a surprise decision, the European Central Bank has raised interest rates for the first time in over a decade; CNBC’s Steve Liesman, Joe Kernen, Becky Quick, and Andrew Ross Sorkin explain the significance of the move, particularly in light of the bloc’s energy turmoil. Tesla, once a crypto-believing company, has swapped 75% of its bitcoin holdings for fiat currency. Plus, the latest in Joe Kernen’s up-and-down viewing relationship with “The Old Man.” In this episode: John Stankey, @ATT Steve Liesman, @SteveLiesman Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:08.0	AT&T out of content and into connectivity.
0:12.0	CEO John Stanky joins us after spinning off media assets
0:15.8	and cutting the forecast for cash flow,
0:17.8	customers might be having a harder time paying their bills.
0:21.4	The consumer is experiencing a bit of stress. There's some
0:24.5	trade-offs occurring right now and decisions on dining and travel and a variety of
0:28.5	other things and it's it's mostly hitting those in in lower socioeconomic tears.
0:34.7	Plus Tesla dumping the bulk of its Bitcoin holdings.
0:38.1	And we're heading across the pond, where gas flows are restored, for now,
0:42.3	and the European Central Bank made an historic move
0:45.1	trying to get about 20 different economies on the same page.
0:48.7	That would be like if people in Montana
0:50.8	were paying a percentage point more than people in Pennsylvania.
0:54.9	It's Thursday, July 21st, Squackpot begins right now.
0:58.9	Stand back you by and three, two, one, fuel break.
1:03.5	Good morning everybody.
1:04.4	Welcome to Squackbox here on CNBC.
1:06.4	We are live from the NASDAQ market site in Times Square.
1:09.2	I'm Becky Quick along with Joe Cernan and Andrew Ross
1:11.4	Sorkin.
	...

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