SQUAWK BOX, TUESDAY 20TH FEBRUARY, 2024

The PBOC makes its biggest ever cut to the country’s benchmark mortgage rate as authorities look to shore up the beleaguered Chinese property sector. In banking news, Capital One strikes a $35bn deal to snap up credit card issuer Discover Financial – the largest acquisition so far this year. German industrial giant Bayer slashes its dividend by 95 per cent to the lowest legal level in a bid to drastically cut costs and alleviate its debt situation. The world largest listed mining company, BHP also reduces its dividend payout following a plunge in H1 net profit as commodity pricing remains rocky. And we are live at the Singapore Air Show where China prepares to unveil its first home-grown passenger aircraft. IATA director-general Willie Walsh tells CNBC the aviation sector is still seeing examples of supply chain concerns.

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