CNBC

BP shares jumped at the market open following weekend reports that activist investor Elliott Management has built a stake in the struggling oil major and could pressure the energy company to shift gears on its core oil and gas businesses. BP stock was up 7.14% at 8:41 a.m. London time. The company has declined to comment on the reports, which do not specify the size of the stake accrued by Paul Singer's hedge fund. CNBC has reached out to Elliott Management for comment.

China is poised for economic stimulus and major structural changes that will set corporates up for strong returns, according to Andrew Swan, head of Asia equities at Man Group. "The sentiment around the China market obviously has been pretty poor, not just recently, but for some time now. I think investors are ignoring some of these positive developments," Swan told CNBC's "Squawk Box Europe" on Friday. "People seem to have a short memory. Back in August, September [of] last year, leadership in China was very clear that they now understand the challenges that the economy is facing, particularly around deflation. And I think [in] 2025, we're going to see the rollout of those policies they mentioned to support the economy."

Nicola Gunby, a 30-year-old entrepreneur, longed for a community of friends when she moved to London after the pandemic, but was shocked to find herself isolated in one of the biggest cities in the world. Gunby, the co-founder of social and community networking app Cliq, hails from Nottingham in the U.K. and settled in London with her partner Jason Iliffe in 2021 after a stint in Australia. Gunby and Iliffe were expecting to become embedded in the city's social scene but soon found that meeting people was a struggle.

The growth and safety of the global frozen food market may be at risk without resilient cold storage supply chain infrastructure.

Global tariff threats from U.S. President Donald Trump aside, New Zealand is optimistic about its trade relationship with the United States. Speaking to CNBC's "Squawk Box Asia," New Zealand Finance Minister Nicola Willis said that "New Zealand is distinguished in that we have a very balanced and complementary trade relationship with the United States," adding that it's "hopeful of pursuing ongoing positive trade relationships" with it. She noted that the U.S. imports meat and wine from the country, and New Zealand imports "significant goods and services from the United States."

In viral social media clips, creators ask someone they encounter on the street about their position and salary. The answers can help promote pay transparency.

Electric car companies in China welcomed the Year of the Snake with a slew of incentives for consumers, after major automakers reported a drop in deliveries at the start of the year. Softness in Chinese consumption indicators has raised worries that automakers may not be able to sell their accumulated car inventory, said Liz Lee, associate director at Counterpoint Research. "So around the Chinese New Year holidays ... they just started [these] aggressive promotions. Let's see how [long] it will last." The Lunar New Year holiday ran from Jan. 28 to Feb. 4 in mainland China this year, ushering in the agrarian Chinese zodiac year of the snake. In January, Beijing said it had already issued 81 billion yuan ($11.12 billion) to support consumption of electric cars, smartphones and home appliances over the extended holiday period.

The world won't be able to release its grip on coal anytime soon. "Nothing can destroy coal," U.S. President Donald Trump said at the recent World Economic Forum. "Not the weather, not a bomb." U.S. exports of coal have been rising steadily to satisfy growing global demand for the world's dirtiest fossil fuel, even though its domestic consumption has decreased.

Elon Musk has called to impeach a federal judge in New York, Paul Engelmayer, over an order that temporarily restricts the tech centi-billionaire and his DOGE team from accessing U.S. Department of Treasury payment systems and sensitive data. Over the weekend an outraged Musk posted on X, the social network he owns, calling Engelmayer, "A corrupt judge protecting corruption," adding, "he needs to be impeached NOW!" He also posted an explanation on X of what he wants to do with the Treasury Department. Musk and his special government employees, who are part of his DOGE initiative, are tasked by President Donald Trump with finding ways to slash the federal budget, massively reduce the federal workforce, and eliminate as many federal regulations and agencies as possible.

Consumer Financial Protection Bureau staff were already bracing for the worst after the news of the last 3 days. Now they're being told their HQ will be shuttered... which feels, to many at regulator, like the prelude to mass layoffs. After all, Trump has said he wants federal employees in 5 days/week. Now, they are telling CFPB employees to stay home and do nothing. CFPB employees were told Sunday to work remotely because their Washington, D.C., headquarters would be closed through Feb. 14, according to a memo obtained by CNBC. The memo, from CFPB Chief Operating Officer Adam Martinez, follows an email sent Saturday from newly-installed acting CFPB director Russell Vought which instructed staff to suspend nearly all activities of the regulator, including supervising financial firms. The developments come amid concern about the fate of the CFPB and its staff after operatives from Elon Musk’s DOGE arrived at the regulator late last week. The DOGE employees have been given access to CFPB data sources, including staff performance reviews, said people with knowledge of the situation who have asked for anonymity out of fear of reprisal. Musk, who last year called for the deletion of the CFPB, on Friday posted “CFPB RIP” on his X social media platform. CFPB employees are bracing for the possibility of being put on administrative leave or laid off, similar to what Trump officials have attempted with the U.S. Agency for International Development, according to people at the bureau. Mass layoffs would jeopardize the mission of the CFPB, created in the aftermath of the 2008 financial crisis to prevent banks and other financial firms from exploiting Americans. At risk are several CFPB efforts that would’ve saved consumers tens of billions of dollars, including restrictions on credit card and overdraft fees, and a rule that would’ve removed $49 billion in medical bills from the credit reports of 15 million Americans. #regulators #CFPB #DOGE #banks https://lnkd.in/eaVvBp8G