"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
Bloomberg could be in for a showdown with Elizabeth Warren, whether he runs or not.2020 Electionsread more
Bank of America says investors should still look to stocks for value rather than bonds.Investingread more
Wall Street analysts estimate GM has lost more than $1 billion due to the United Auto Workers' strike, which began Sept. 16.Autosread more
Check out the companies making headlines in midday trading:Market Insiderread more
Harley-Davidson has halted production and deliveries of its new LiveWire electric motorcycle after reportedly discovering a problem with its charging mechanism.Transportationread more
Uber has laid off about 350 employees across several teams within the organization.Technologyread more
A passenger has complained to United Airlines after a fellow traveler was allowed to fly with a T-shirt that called for hanging journalists.Airlinesread more
"I fear that's what we're headed into" here in America, warns the former Treasury secretary.Economyread more
"But I expect we'll have a deal," Mnuchin tells CNBC.Politicsread more
Kohl's stores are getting a bit of a refresh, and are being infused with new brands, ahead of this holiday season.Retailread more
WHEN: Today, Monday, November 11th
WHERE: CNBC's "Squawk on the Street"
Following is the unofficial transcript of breaking news from CNBC's Scott Wapner. All references must be sourced to CNBC.
SCOTT WAPNER: WELCOME BACK TO "SQUAWK ON THE STREET." I'M SCOTT WAPNER WITH SOME BREAKING NEWS REGARDING CARL ICAHN ON A COUPLE OF FRONTS. WE HAD BEEN WAITING FOR MR. ICAHN TO SPEAK YET AGAIN WITH TIM COOK, THE APPLE CEO. APPARENTLY, THAT HAS HAPPENED. CARL TELLING ME JUST A SHORT TIME AGO THAT HE HAS SPOKEN WITH TIM COOK AGAIN OVER THE LAST FEW DAYS. THAT THEY HAD A GOOD CONVERSATION AND THEY CONTINUE TO STUDY THE BUY-BACK SITUATION. ALSO SAYING THAT WE BOTH CONTINUE TO BELIEVE THE COMPANY'S UNDERVALUED WE, BEING OBVIOUSLY CARL ICAHN AND TIM COOK. WE'VE SEEN APPLE'S STOCK TRADE DOWN TODAY BY ABOUT 1%. IT SEEMS TO BE COMING OFF THOSE LEVELS A BIT BUT IT IS SITTING RIGHT AT $518 A SHARE. SO AGAIN, THE HEADLINE HERE, IS THAT CARL ICAHN AND TIM COOK HAVE SPOKEN AGAIN, DESCRIBED BY MR. ICAHN AS BEING A GOOD CONVERSATION. THAT THEY CONTINUE TO STUDY THE BUY-BACK SITUATION. SO WE LOOK AT APPLE SHARES AND WILL CONTINUE FOLLOW THAT ONE. THE OTHER BIG STORY, IS THIS VICTORY BY CARL ICAHN IN HIS BATTLE WITH TRANSOCEAN. AND TAKE A LOOK AT WHAT THOSE SHARES ARE DOING TODAY. THAT OF COURSE IS RIG. MR. ICAHN ADDING ONE PERSON TO THE BOARD HERE, ALSO RE-ELECTING THE COMPANY AS SOMEONE THAT HE DID SUPPORT. MR. ICAHN HAS BEEN ARGUING FOR A BIGGER DIVIDEND TO BE PAID. THEY'RE RAISING THE DIVIDEND TO $3, THAT'S FROM $2.24. PERHAPS NOT AS MUCH AS MR. ICAHN WOULD HAVE LIKED, BUT AT LEAST IT'S A STEP IN THE RIGHT DIRECTION. HE SAYS THEY WILL ALSO IPO AND MLP AND MAKE $800 MILLION IN COST CUTS. MR. ICAHN TELLING ME JUST A SHORT TIME AGO, THAT THIS MOVE BY TRANSOCEAN IS IN HIS WORDS A GREAT STEP IN THE RIGHT DIRECTION. HE CONGRATULATES THE BOARD FOR ACTING RESPONSIBLY, THAT IT SHOWS THE ACTIVIST MODEL CONTINUING TO WORK WELL AND HE DOES SAY THAT WITH THE MLP SPIN-OFF AND ALSO THE COST CUTTING UNDER WAY, THAT HE HOPES THEY WILL BE ABLE TO RAISE THE DIVIDEND EVEN FURTHER DOWN THE LINE.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 390 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site athttp://www.nbcumv.com/mediavillage/networks/cnbc/