Finance


Qatar's emir travels to crisis-hit Turkey in show of support Qatar's emir travels to crisis-hit Turkey in show of support
- August 17, 2018

Turkish President Recep Tayyip Erdogan said on Tuesday that Turkey will boycott electronic products from the United States, retaliating in a dispute with Washington that helped drive the lira to record lows. Turkish President Recep Tayyip Erdogan has accused the United States of stabbing Turkey in the back and on Tuesday called for a boycott of U.S. (more...)
Trump's latest boost to the dollar: U.S.-Turkey spat Trump's latest boost to the dollar: U.S.-Turkey spat
- August 17, 2018

In a sign the conflict is far from over, White House spokeswoman Sarah Sanders said United States tariffs announced last week will stay in place regardless of whether an American pastor detained in Turkey is freed. "The tariffs that the United States placed on Turkey were out of national security interests". Turkey slapped another round of steep tariffs on USA goods as the two countries escalate their trade battle and push the relationship to a breaking point. (more...)
Chinese official to visit USA to resume talks to end trade war Chinese official to visit USA to resume talks to end trade war
- August 17, 2018

China's Commerce Ministry says Vice Minister Wang Shouwen will meet with David Malpass, an assistant U.S. Treasury secretary for global affairs. "The main objective is to see whether both sides are really interested in having further dialogue". (more...)
Lawyer appeals for USA pastor’s release in Turkey Lawyer appeals for USA pastor’s release in Turkey
- August 15, 2018

The Standard & Poor's 500 index slide 0.7 per cent to 2,833.28, ending a five-week winning streak. Japan's Nikkei 225 index fell 0.4 percent to 22,270.90 and in Hong Kong, the Hang Seng dropped 1.6 percent to 27,319.21. President Tayyip Erdogan on Monday accused "economic terrorists" of plotting to harm Turkey by spreading false reports and said they would face the full force of the law, as authorities launched investigations of those suspected of involvement. (more...)
Detained US pastor in Turkey appeals for release 46min Detained US pastor in Turkey appeals for release 46min
- August 15, 2018

Erdogan said Turkey was facing an "economic attack" and a "bigger, deeper operation". He also said on Friday that he had ordered to double USA tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively. (more...)
Transgender Democratic candidate makes history in state’s gubernatorial primary Transgender Democratic candidate makes history in state’s gubernatorial primary
- August 15, 2018

Hallquist is the former CEO of Vermont Electric Cooperative, a member-owned utilities group, and has stressed that while media coverage often focuses exclusively on her identity as a transgender woman, she wants to be seen as more than an LGBTQ candidate. (more...)
Rupee Reverses Day's Losses To Close Above 70 Per Dollar: 10 Points Rupee Reverses Day's Losses To Close Above 70 Per Dollar: 10 Points
- August 15, 2018

It had ended at 68.84 to the dollar on Friday. Analysts said a rise in the 10-year benchmark bond yield to 7.82 percent on Tuesday reflected concerns about rising government borrowing costs in the market. "Importers were seen aggressively buying dollars in the forward market putting further pressure on the rupee", said Abhishek Goenka, chief executive officer (CEO), India Forex Advisors. (more...)
The Single Biggest Threat To Global Oil Demand Growth The Single Biggest Threat To Global Oil Demand Growth
- August 15, 2018

US stock indexes broadly gained, supporting oil futures. Oil prices slid Monday after inventories at a key USA crude delivery hub jumped last week, adding to demand concerns. "If 1 million bpd or more of Iranian exports go AWOL, the current fragile supply-demand balance will be upended, potentially sending oil prices above the May peak". (more...)
Tesla Special Committee to Evaluate Possibility of Taking Company Private Tesla Special Committee to Evaluate Possibility of Taking Company Private
- August 15, 2018

Musk regarding a potential Going Private Transaction will be accepted by the special committee", it writes. CNNMoney's "Markets Now" streams live from the NYSE every Wednesday at 12:45 pm ET. A source told Reuters that Silver Lake was working with Musk without compensation and has no plans to participate as an investor in the proposal. (more...)
Shares rebound as Turkish lira pulls out of dive Shares rebound as Turkish lira pulls out of dive
- August 15, 2018

US crude CLcv1 rose 18 cents to $67.38 a barrel and Brent LCOcv1 gained 22 cents to $72.83. Sergey Lavrov, speaking after talks Tuesday with his Turkish counterpart, Mevlut Cavusoglu, said the wide use of sanctions reflect Washington's desire to win domination and secure unilateral advantages for its businesses. (more...)
Saudi Arabia's PIF has not shown interest in bankrolling Tesla buyout Saudi Arabia's PIF has not shown interest in bankrolling Tesla buyout
- August 15, 2018

He also mentioned in the tweet that funding for this endeavor has been secured. Currently, it is said that PIF is not getting involved in any funding process for Tesla's take-private deal and it would not make an investment of this kind without seeking guidance first from Softbank. (more...)
Turkey 'implores' Trump to return to table on tariffs Turkey 'implores' Trump to return to table on tariffs
- August 14, 2018

The updated sanctions will raise Turkish steel tariff to 50 percent and aluminum tariff to 20 percent. Trump tweeted on Friday that the US-Turkey ties "are not good at this time!" The moves followed a series of actions the administration has taken in recent weeks to step up economic pressure on President Recep Tayyip Erdogan of Turkey to release US evangelical pastor Andrew Brunson, who has been detained in Turkey on espionage charges since October 2016. (more...)
Employee steals plane from Seattle airport, crashes it shortly Employee steals plane from Seattle airport, crashes it shortly
- August 13, 2018

Experts explain how the Horizon Air employee was able to steal a plane. A United States official briefed on the matter told The Associated Press the man was Richard Russell . There was no connection to terrorism, Ed Troyer, a spokesman for the sheriff's department, said. According to Buzzfeed News , a blog Russell maintained during his college years said he was raised in Wasilla and met his wife in OR before moving to Sumner, Wash. (more...)
Jury awards $289 million to man in Monsanto case Jury awards $289 million to man in Monsanto case
- August 13, 2018

As part of his duties as groundskeeper at a California school, Johnson used Roundup between 20 and 40 times a year, sometimes "hundreds of gallons" at a time, according to his lawyer. Spokesman Scott Partridge said the company would appeal, and said scientific studies and two government agencies had concluded that Roundup does not cause cancer. (more...)
Trump praises Mexico, threatens Canada with auto tariffs Trump praises Mexico, threatens Canada with auto tariffs
- August 13, 2018

However, he acknowledged: "We still have a lot of work to do". Some of the revisions requested by Washington to the original 1994 version of the deal include lowering the amount of foreign-made parts allowed in vehicles manufactured in North America, a sunset clause that would allow the deal to be reviewed every five years, and effectively capping fruit and vegetable exports to the United States. (more...)
McDonald's McGold Card Entitles Winner To Free Food For Life McDonald's McGold Card Entitles Winner To Free Food For Life
- August 13, 2018

The victor of the contest will receive a "McGold Card", which earns them two free meals per week for the next 50 years - not exactly unlimited food for life, but an offer no hardcore McDonald's fan would sneeze at. "You have a much better chance of winning a state lottery than picking something like this up". This first-ever, one-of-a-kind gold card will be in the form of a custom gold-plated phone case . (more...)
Tech stocks take Nasdaq, S&P close to record Tech stocks take Nasdaq, S&P close to record
- August 13, 2018

The energy group dropped 0.75 percent and weighed the most on the S&P index as crude oil prices fell on slowing Chinese demand and trade issues. "There is low volatility in the markets as the S&P and Nasdaq are just below all-time record highs, and it seems like markets are complacent right now", said Tom White, chief market strategist at TradeWise Advisors, in Chicago, Illinois. (more...)
RyanAir pilot strike grounds 400 flights across Europe RyanAir pilot strike grounds 400 flights across Europe
- August 12, 2018

Which flights are affected by the Ryanair strike? " Ryanair alone is responsible for the escalation we are now seeing", Locher insisted. The union said that while pilots appreciated the carrier's five days on, four days off rotas, they wanted to change the large variable component in salaries and also alter Ryanair's practice of moving staff between bases without much notice. (more...)
Trump OKs stiffer tariffs on Turkish metals as lira plummets Trump OKs stiffer tariffs on Turkish metals as lira plummets
- August 12, 2018

Trump tweeted that the latest tariff decision came as Turkey's currency , the lira , "slides rapidly downward against our very strong Dollar". In Rize, Erdogan said the United States would pay a price by challenging Turkey for the sake of " petty calculations ", denouncing Washington for declaring "economic war on the entire world" and holding countries "for ransom through sanction threats". (more...)
Higher US tariffs increase pressure on Turkish economy Higher US tariffs increase pressure on Turkish economy
- August 11, 2018

Investors fear Turkey is teetering on the edge of financial crisis following a dramatic plunge in its currency that has gathered pace this week. Reverberations spread through global markets, with European stockmarkets especially hit as investors took fright over banks' exposure to Turkey. (more...)
Moscow to treat new US sanctions as act of economic war Moscow to treat new US sanctions as act of economic war
- August 11, 2018

The sanctions are expected to take effect later this month. Meanwhile, the US -traded VanEck Vectors Russia exchange-traded fund fell more than 4 percent Wednesday, its worst day since April. Analysts described the Russian market as stunned by the weight of the new sanctions . The shares of Russian state-controlled banks, the national carrier Aeroflot and other companies also tanked. (more...)
Turkey turmoil sends ripples across world stock markets, euro falls Turkey turmoil sends ripples across world stock markets, euro falls
- August 11, 2018

On March 1 , Trump had announced global tariffs of 10 percent on all aluminum to the US and 25 percent on all steel imports. Trump is also declaring that, "Our relations with Turkey are not good at this time!" The value of the Turkish lira has dropped sharply, ramping up fears of a contagion effect across emerging markets that could damage the world economy. (more...)
Oil slides after China announces tariff on USA crude Oil slides after China announces tariff on USA crude
- August 10, 2018

While it's true that China's crude oil imports recovered slightly in July, it was still among the lowest so far this year due to a decline in demand from smaller so-called independent "teapot" refineries. trade dispute. In the previous US crude sanctions against Iran, about half of its oil exports of 2.4 million barrels were removed from the market. (more...)
Ford Announces Buck-a-Beer Plan Ford Announces Buck-a-Beer Plan
- August 10, 2018

The Progressive Conservative plan will lower the minimum price of a bottle or can of beer to $1 from $1.25 starting August 27 - a few days before the Labour Day weekend. It was also confirmed that new minimum price will be allowed for beers at a strength of 5.6% abv and lower, and it will not apply to draught product. (more...)
Iranian naval drill a warning on sanctions, says USA general Iranian naval drill a warning on sanctions, says USA general
- August 10, 2018

More sanctions targeting Iran's oil and gas industry are due to begin in November. "Today, the (European) Council has endorsed the update of the blocking statute annex on the nuclear deal with Iran", Mogherini said after a meeting of European Foreign Ministers in Brussels. (more...)