Money

Turkey raises tariffs on USA imports amid economic spat

The lira's plunge - which had been ongoing for weeks - was turned into a rout on Friday when US President Donald Trump tweeted that Washington was doubling aluminium and steel tariffs for Turkey. See if you can take her iPhone away. In a joint statement issued Tuesday, the industrialists' group TUSIAD and the Union of Chambers and Commodity Exchanges called on the government to allow the cen... [Full Article...]

Oil could hit $150 per barrel on Iran curbs, Venezuela crisis

Oil could hit $150 per barrel on Iran curbs, Venezuela crisis BMI Research said oil markets would "struggle for direction, as uncertainty around both the impact on supply from the Iranian sanctions and escalating trade tensions between the US and China persists". Hedge funds and other money managers reduced their bullish positions in U.S. crude futures and options in the week ending August 7, data from the U.S. [Full Article...]

Turkey’s lira crisis threatens to undermine global economy

Turkey’s lira crisis threatens to undermine global economy It's not clear how Erdogan would enforce the boycott, the AP noted. Turkish business groups are begging President Recep Tayyip Erdogan to make amends with the U.S.in an effort to save the Turkish economy, the Financial Times reported . "We will boycott electronic goods from the United States", the president said, raising the stakes in a spat with Washington following the detention of USA pas... [Full Article...]

Trans Candidate Wins Democratic Primary for Vermont Governor

Trans Candidate Wins Democratic Primary for Vermont Governor Before she ran for governor, Hallquist spent 12 years as the chief executive of the Vermont Electric Cooperative, an in-state power utility she helped to bring back from near ruin. "People are liking what they're hearing and that's what's really cool about Christine". His approval among Vermonters fell 18 points to 47 percent while his disapproval doubled to 42 percent. [Full Article...]

Asian stock markets recover from the escalating financial crisis in Turkey

Asian stock markets recover from the escalating financial crisis in Turkey The Turkish envoy conveyed the message the pressure and threats would only lead to a "chaos" in relations which could only improve after Washington abandons the language of "threats", said Turkey's foreign minister Mevlut Cavusoglu. He specifically highlighted Apple , the Associated Press reports , saying Turkey would stop bringing in iPhones in favor of devices from South Korea's Samsung ... [Full Article...]

Markets Right Now: US stocks move broadly higher

Markets Right Now: US stocks move broadly higher The U.S. media said the decision was related to the current state of Turkish-American relations and the Brunson case. Brunson's lawyer Cem Halavurt confirmed to AFP that he appealed for the release of his client once again on Tuesday, saying that: "The court should deliver its ruling in the next three days". [Full Article...]

Tesla Special Committee to Evaluate Possibility of Taking Company Private

Tesla Special Committee to Evaluate Possibility of Taking Company Private Musk. will be accepted by the special committee", the statement said. Musk's disclosure, made in a blog post on Tesla's website , comes six days after the Silicon Valley billionaire shocked investors with a post on Twitter saying he was considering taking Tesla private at $420 a share and that funding was "secured". [Full Article...]

More than 100 large wildfires in U.S. as six new blazes erupt

More than 100 large wildfires in U.S. as six new blazes erupt Eight civilians have also been killed in the blazes across the state. The Holy Fire named for Holy Jim Canyon, where it began Monday, grew to almost 33 sq miles (85 sq km) by Saturday morning. As it has grown to cover more than 202,000 acres, 1,077 homes, 22 commercial structures and 500 other buildings have burned. The Mendocino Complex Unified Incident Commanders will be making a press sta... [Full Article...]

Rupee breaches the 70 mark: How it's bad, and how it's good

Rupee breaches the 70 mark: How it's bad, and how it's good This is the biggest single day fall for the rupee in the past five years. Around 11 am, the rupee plunged to Rs 70.08 to a U.S. dollar. However, the Indian currency recovered later on heavy intervention by the Reserve Bank of India (RBI). [Full Article...]

Turkish crisis spreading into other markets

Turkish crisis spreading into other markets Mr Brunson has been detained for almost two years, accused of links to the outlawed Kurdistan Workers' Party and the Gulenist movement, which Turkey blames for a failed coup in 2016. Turkey's most significant trading partner is Germany. The Turkish president's standoff with Trump has fuelled concerns of a foreign policy shift that would result in Turkey leaving North Atlantic Treaty Organ... [Full Article...]

Elon Musk says Saudis back Tesla buyout

Elon Musk says Saudis back Tesla buyout The lawsuits also claim Musk hasn't lined up the financing necessary to take Tesla private and therefore made false statements. Discussions began before the controversial August 7 tweet by Musk, who is Tesla's co-founder and chief executive officer, saying he was weighing a plan to take the company private. [Full Article...]

Family of man who stole plane from SEA-TAC speaks out

Family of man who stole plane from SEA-TAC speaks out At a news conference in Seattle-Tacoma International Airport, officials from Alaska Airlines and Horizon Air said that they are still working with authorities as they investigate what happened. The pilot, identified by local law enforcement as a 29-year-old ground service agent for Alaska Airlines sister carrier Horizon Air identified only as " Rich ", sent several distraught transmissions whi... [Full Article...]

Elon Musk Got 1.4 Million Dollars Richer Because Of A Tweet

Elon Musk Got 1.4 Million Dollars Richer Because Of A Tweet Kalman Isaacs, one of the investors who filed suit Friday in a San Francisco court, claimed Musk's tweets were "designed to completely decimate short-sellers". The remark set off a frenzy of trading in Tesla shares, even as investors were struggling to discern whether the tweet was legitimate and what precisely it meant. [Full Article...]

Turkey is a 'target of economic war', Erdogan says

Turkey is a 'target of economic war', Erdogan says The lira , which has lost a third of its value this year, fell on his comments and was trading at around 6.05 to the dollar after he spoke, almost 9 percent weaker on the day. A meeting between senior diplomats from the two countries on Wednesday in Washington did not produce significant progress to ease tensions over the trial of USA pastor Andrew Brunson in Turkey on charges of supporting t... [Full Article...]

Dow down 200, emerging markets crashing on US-Turkey geopolitical concerns

Dow down 200, emerging markets crashing on US-Turkey geopolitical concerns The Dow and S&P 500 posted declines for the week following five straight weeks of gains, but the S&P 500 remains just 1.4 per cent below its record high from January 26. Tech stocks have been at the center of a sharp recovery in the S&P since a market rout in February, driving the index close to its record high. "There is low volatility in the markets as the S&P and Nasdaq are just below... [Full Article...]

Plane crashes after airline employee’s solo ‘unauthorized takeoff’ from Seattle airport

Plane crashes after airline employee’s solo ‘unauthorized takeoff’ from Seattle airport The biggest question: How did a ground service agent - whose job includes directing planes for takeoff and gate approaches as well as baggage handling and de-icing - manage to steal a 76-seat Horizon Air turboprop and fly it for almost an hour Friday night with military jets in pursuit before plunging into a wooded island? As Rich flew over the water, two F-15 fighter jets were dispatched to i... [Full Article...]

SEC Examining Musk's Tweets on Taking Tesla Private

SEC Examining Musk's Tweets on Taking Tesla Private Exactly 48 hours after Elon Musk triggered a frantic rally with a tweet saying he was considering taking Tesla Inc. private, the stock erased all of those gains. It is not clear if PIF is interested in financing Mr Musk's proposed take-private deal. Musk has feuded publicly with regulators, critics, short sellers and reporters, and some analysts suggested that less transparency would be welcomed... [Full Article...]

Chinese soybean imports slump 8% in July as stocks build

Chinese soybean imports slump 8% in July as stocks build President Donald Trump to put pressure on China to negotiate trade concessions after imposing tariffs on US$34 billion in goods last month. It would likely have to impose penalties on USA companies doing business in China to make up the difference. [Full Article...]

Jury awards $289 million to man who said Roundup gave him cancer

Jury awards $289 million to man who said Roundup gave him cancer Johnson's lawyer, Brent Wisner , said the jury's verdict showed the evidence was "overwhelming". "Hopefully this thing will get the attention it needs". Environmental Protection Agency will pull this product off the market immediately". Four years later Johnson - now near death, according to his doctors - has been awarded a staggering sum of $289 million dollars in damages in a case against a... [Full Article...]

US SEC Delays Decision Concerning Bitcoin ETF Until September 30

US SEC Delays Decision Concerning Bitcoin ETF Until September 30 Adoption is key to the longevity of cryptocurrency, and the SEC knows that the decision shouldn't be made swiftly. Following the SEC's latest decision to reject the proposed rule change for a bitcoin ETF , SEC Commissioner Hester Peirce voiced her opinion in an interview with Cnbc on Wednesday. [Full Article...]


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