Cards & Chips: A Deal for Discover & $1.5B for Semiconductors 02/20/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 20 February 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s big news for your wallet: Capital One is set to acquire Discover in a $35.3B all-stock deal, pending any regulatory hurdles. In the run-up to the 2024 election, Axios co-founder Mike Allen is watching two key issues: President Biden’s upcoming State of the Union, and former President Trump’s days in court. In DC, the Biden administration is awarding chipmaker GlobalFoundries $1.5B for semiconductor production; National Economic Council Director Lael Brainard discusses the White House’s program to bolster jobs and chips in the US. Plus, crude prices and bitcoin prices are on the rise. Lael Brainard - 10:46 Mike Allen - 21:09 In this episode: Mike Allen, @mikeallen Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:09.0	A big deal in your wallet, Capital One, set to acquire Discover.
0:13.8	I can't tell you about Discover's advertising campaign.
0:18.0	Because you don't see it.
0:18.9	I'm sick of Capital One's.
0:21.8	The White House is making a big bet on Chipmaker, Global Foundries,
0:25.4	Director of the National Economic Council, Lail Brainerd, on US industry and the
0:29.6	US economy. The broader picture I think is encouraging about say one thing which is we got a lot of work still to do
0:37.0	Some prices are still too high
0:39.9	And a big fundraising push from President Biden,
0:43.0	Axios co-founder Mike Allen,
0:44.8	with the two big issues he's watching before November.
0:47.9	That state of the Union, it's the biggest thing
0:50.3	that President Biden controls by far, the other one that no one
0:53.5	one controls the Supreme Court ruling on whether or not the Trump
0:56.9	trials go ahead and how quickly those go ahead.
0:59.8	Those stories plus crude price up and so is Bitcoin.
1:05.0	Just asking the question.
1:07.0	It's up 100% just in the last six weeks.
1:10.0	It's Tuesday February 20 20th, 2024.
1:13.3	Squack Pod begins right now.
	...

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