SQUAWK BOX, MONDAY 12TH AUGUST, 2019

After a rocky week for Wall Street, Asian equities start the week cautiously higher as Goldman Sachs warns the trade war is raising the prospect of a U.S. recession. Meanwhile, China sets its yuan fix at weaker than 7 for the third straight day. In Italy, deputy Prime Minister Matteo Salvini denies reports he wants to withdraw the country from the euro area as he intensifies his call for a snap election. In corporate news, Sandvik CEO Bjorn Rosengren will assume the top job at engineering giant ABB, taking over from acting CEO Peter Voser in March. And finally, as US President Trump struggles to seal a deal for a 20 member global coalition to protect maritime shipping lanes, we take you aboard aircraft carrier USS Abraham Lincoln as the fleet looks to defend the Strait of Hormuz.