Squawk Box Europe Express

CNBC learns that U.S. software giant Oracle is challenging Microsoft for Chinese app TikTok’s North American assets. BHP has missed its full-year forecasts but keeps its dividend. The Anglo-Australian miner warns that most economies will continue to contract throughout the rest of the year but iron ore prices are set to rebound. In the U.S., a virtual Democratic National Convention has opened with former First Lady Michelle Obama focusing her ire on President Trump’s leadership. And in Belarus, a first sign of concession as President Alexander Lukashenko has reportedly said he would hold a new leadership referendum if the current anti-government protests cease.