Business

USA stocks bounce as Turkish currency rises

USA stocks bounce as Turkish currency rises During an address to Turkish ambassadors in the capital, Ankara, Erdogan said Monday that Turkey would overcome the "attack" on its economy. The country's economic trouble has been heightened by a dispute with the US that has centered on the continued detention of an American pastor who is on trial for espionage and terror-related charges. [Full Article...]

Rescuers in Italy comb concrete and steel after bridge collapse

Rescuers in Italy comb concrete and steel after bridge collapse And if there's no easy way to inspect them, "it's a high risk system", Agrawal said. Roberto Robbiano, his wife Ersilia Piccinino and their seven-year-old son Samuele are believed to have died when their auto plummeted to the ground after a section of the Morandi viaduct collapsed during torrential rain on Tuesday. [Full Article...]

Turkey slaps 140% tariff on American alcohol

Turkey slaps 140% tariff on American alcohol On Tuesday, the Turkish president said his country would boycott USA electronic goods, including Apple's iPhone. "If they've got iPhone, there is Samsung on the other side". The lira has lost about a fifth of its value against the greenback since Friday . The Turkish central bank has pledged to take "all necessary measures" to stabilize the country's economy to make sure the banks have ... [Full Article...]

California Holy Fire rages on, burns more than 21000 acres

California Holy Fire rages on, burns more than 21000 acres If all goes well, firefighters still don't expect to the have the massive blaze completely contained until sometime in September. "Fire crews continue working on bringing bring the east edge of the fire back in to the Mendocino National Forest, but obstacles and access still prove to be challenging", Cal Fire said. [Full Article...]

Elon Musk taunts investors betting against Tesla

Elon Musk taunts investors betting against Tesla Musk spoke with the Public Investment Fund about going private previously, according to the news outlet. They said he had "addressed the funding for this to occur", without providing details. Securities and Exchange Commission had begun inquiring about Musk's activity. While Saudi is certainly the first direction anyone would look to, and we've already discussed the Chinese interest via Tencent ... [Full Article...]

Erdogan says Turkey will boycott USA electronics

Erdogan says Turkey will boycott USA electronics Turkish President Tayyip Erdogan makes a speech during a ceremony marking the second anniversary of the attempted coup at the Presidential Palace in Ankara, Turkey , July 15, 2018. Over a third of Turkish banks' lending is in foreign currencies, according to Reuters . The moves will free up 10 billion lira, $6 billion, and $3 billion equivalent of gold liquidity in the financial system, the ba... [Full Article...]

Man steals aircraft from Seattle airport, fighter jet scrambled

Man steals aircraft from Seattle airport, fighter jet scrambled Horizon Air chief operating officer Constance von Muehlen said the company believed the mechanic involved was a Horizon employee. Sea-Tac Airport reported that the plane crashed in south Puget Sound. "More information as we learn more", Alaska Airlines wrote on Twitter around 9:20 p.m. on the west coast. It's believed there were no passengers or other crew on board. [Full Article...]

Erdogan warns USA of harming its own interests, security

Erdogan warns USA of harming its own interests, security In the first three months of 2018, Turkish steel exports to the United States fell almost 50 percent over the same period in 2017, making it the only top-10 source of US steel imports to see a decrease, according to the US Commerce Department. [Full Article...]

Russia: US sanctions over Skripal poisoning 'draconian,' 'unacceptable'

Russia: US sanctions over Skripal poisoning 'draconian,' 'unacceptable' The State Department announced the sanctions on Wednesday. Konstantin Koschev, chairman of foreign affairs in the upper house of the Russian parliament, fumed that the U.S.is acting like a "police state" by "threatening and torturing a suspect to get evidence". [Full Article...]

U.S. business community warns tariffs on Chinese imports could backfire

U.S. business community warns tariffs on Chinese imports could backfire USTR said there were 279 new goods to be targeted in the latest round of tariffs. For its part, China has threatened to ratchet up the tit-for-tat trade war by slapping tariffs on another $60bn of American imports. "In violation of the bilateral consensus reached after multiple rounds of negotiations, the United States has again unilaterally escalated trade frictions", the Chinese State Counci... [Full Article...]

Will oil prices hit peak again?

Will oil prices hit peak again? A greater commitment to US crude may help shield India from supply disruptions when sanctions on oil aimed at curbing the Islamic republic's nuclear program begin in early November. The nation's biggest refiner said in May that it plans to almost double its oil imports from Iran to 7 million tons during the financial year that began in April. [Full Article...]

Elon Musk’s latest bombshell: An $82 gambit to take Tesla private

Elon Musk’s latest bombshell: An $82 gambit to take Tesla private Following the company's surge after last week's earnings, Musk took aim again at a short-seller in a reposted short YouTube video that likened these investors to Hitler's last days. A leveraged buyout of Tesla, which went public in 2010 on Nasdaq and which sports a market capitalization of almost $64 billion, or other take-private transaction would represent an abrupt change in financial strateg... [Full Article...]

US Employers Added 157K Jobs in July, Unemployment Dropped to 3.9%

US Employers Added 157K Jobs in July, Unemployment Dropped to 3.9% Some envision the unemployment rate dropping as low as 3.5 percent by the end of 2018. The government revised the previous months' job gains by an additional 59,000. Monthly payroll gains of around 100,000 or even as low as 80,000 are seen as sufficient to push down the unemployment rate over time. Retail was also sluggish, with 7,000 job gains. [Full Article...]

Iran acquires commercial aircraft ahead of United States sanctions

Iran acquires commercial aircraft ahead of United States sanctions President TrumpDonald John TrumpPastor at Trump rally prays to shield Trump from "jungle journalism" Bill Russell: Being criticized by Trump is the "biggest compliment you can get" Salmon farmers in California fear Trump will destroy their industry MORE pulled the USA out of the Obama-era nuclear deal, which offered sanctions relief in exchange for Tehran reining in its nuclear program. [Full Article...]

Brent crude falls below $74 on USA inventories, OPEC supply

Brent crude falls below $74 on USA inventories, OPEC supply Oil slipped below $74 a barrel on Wednesday, pressured by an industry report that USA stockpiles of crude rose unexpectedly and by higher OPEC production, adding to indications of more ample supply. Saudi production increased but was offset by a decline in Iranian supply due to the restart of US sanctions, the survey found. At 408.7 million barrels, the EIA said, crude oil inventories were b... [Full Article...]

USA to analyze higher tariff on $200 billion of Chinese goods

USA to analyze higher tariff on $200 billion of Chinese goods The deliberations could be a sign that Trump is looking to intensify pressure in the trade standoff with Beijing even if it could significantly drive up costs on a wide range of products for American consumers. China appealed to Washington on Thursday to stay calm and "correct its attitude" following a US threat to raise tariffs on $200 billion of Chinese goods in a dispute over technology polic... [Full Article...]

Bank of England Raises Interest Rates to Highest Level Since 2009

Bank of England Raises Interest Rates to Highest Level Since 2009 HDFC Bank raised rates for deposits above Rs 50 million to a range of 4.25-7 per cent, effective Thursday. The Bank of England pushed interest rates above their financial crisis lows on Thursday, but signalled it was in no hurry to raise them further as Britain heads for Brexit next year with no clear plan for leaving the European Union . [Full Article...]

Apple becomes 1st private company worth $1 trillion

Apple becomes 1st private company worth $1 trillion Like the four-minute mile or breaking the sound barrier, the idea of a company with a market capitalization - the share price multiplied by the number of outstanding shares - of more than a trillion dollars was once nearly unthinkable. But he couldn't help but chuckle over the missed opportunity of being back at Apple today. The company's iPhone sales are where they have managed to thrive in r... [Full Article...]

Tesla Profits: Be Careful What You Wish For

Tesla Profits: Be Careful What You Wish For Musk's tweet last month calling a British diver working on the cave rescue of Thai schoolboys a "pedo guy", or pedophile, elicited a rare rebuke from Tesla's fourth-largest shareholder, Baillie Gifford, that Musk should stop tweeting and focus on executing the company's business at hand. [Full Article...]

U.S. sanctions Turkish government ministers over detained Pastor Andrew Craig Brunson

U.S. sanctions Turkish government ministers over detained Pastor Andrew Craig Brunson Imposing sanctions on senior government officials of an allied country is a major escalation and a reflection of just how dire relations between Washington and Ankara have grown in the two years since the coup attempt in Turkey. "This has gone on far too long", she said. A Foreign Ministry statement issued Wednesday said Turkey "strongly protests" the U.S. Treasury's decision to impose sanct... [Full Article...]


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