Money

by | August 16, 2018 | 15:56

Last week the U.S. doubled tariffs on aluminium and steel imports from Turkey, during a dispute over Turkey's detention of an American pastor on security charges that the United States views as baseless. On Monday, National Security Council Advisor, John Bolton, met with Turkey's ambassador to Washington, Serdar Kilic. But support from Qatar and Germany can't fix Erdogan's problems, and the US has signaled it's unfazed by Erdogan's retaliations.

by | August 16, 2018 | 12:58

Turkey accuses Brunson of espionage and is holding him under house arrest pending his trial. Both the White House and State Department continued to express an uncompromising position toward Turkey on Tuesday, demanding that Ankara release US Pastor Andrew Brunson, whom it detained in October 2016, following July's abortive coup attempt.

by | August 16, 2018 | 12:00

The Consumer Price Index (CPI) rose to 2.5pc in July, up from 2.4pc in June, the first rise recorded since November 2017, said the Office for National Statistics. "These figures show that the cost-of-living squeeze is not yet a thing of the past". The measure excludes 5% of the highest and lowest price changes.

by | August 15, 2018 | 23:52

Turkey's weakened currency, the lira, plunged by more than 20% in response to those U.S. sanctions . China may have emerged as an alternative ally for Turkey while its relations with the U.S. "Nevertheless, it must be acknowledged that the government of Qatar is now overlooking the situation in Turkey and did not provide the necessary political and humanitarian support...

by | August 15, 2018 | 20:56

Despite a call from Turkish business groups for President Recep Tayyip Erdogan to mend ties with Washington, the leader was defiant on Tuesday, calling for a boycott of U.S. The Turkish foreign minister on Wednesday said Sudan stood in solidarity with Turkey "at every occasion". The Turkish national currency , the lira, has been plunging as Washington doubled its tariffs on aluminum and steel imports from the country to 20 and 50 percent, respectively.

by | August 15, 2018 | 19:19

WTI crude for September delivery fell as much as 34 cents to $67.29 a barrel on the New York Mercantile Exchange, and was little changed at $67.64 as of 10:38 a.m. OPEC itself, using secondary sources, estimated in a report published on Monday that Saudi production was at a slightly higher level of 10.39 million bpd last month.

by | August 15, 2018 | 11:24

The evangelical pastor is on trial for terrorism charges. "We will boycott U.S. electronic goods", Erdogan said in a televised speech . Erdogan also said his people should buy Turkish smartphones, naming the Turkish electronics and consumer appliance company Vestel and its line of Venus smartphones.

by | August 14, 2018 | 22:47

Tesla founder Elon Musk has confirmed that he is closely working with Goldman Sachs and private-equity firm Silver Lake to take the electric carmaker private - a deal that would need almost $70 billion in funding. Securities lawyers said US law requires executives and companies to have a "reasonable basis" on which to make statements, meaning the fact Musk said he believed he had secured a verbal agreement for the funding after the July 31 meeting could put him on a firmer footing with ...

by | August 14, 2018 | 19:57

Lavrov says that Washington's policies will undermine the dollar's position as the global reserve currency of choice. Turkey was seen as the darling of worldwide investors for a time. Showing no signs of backing down in a standoff with the U.S., Erdogan suggested that Turkey would stop procuring U.S. -made iPhones and buy Korean Samsung or Turkish-made Vestel instead.

by | August 14, 2018 | 17:24

This is the steepest fall for the Indian rupee since September 2013. Kapil Sibal, former HRD minister, "congratulated" the prime minister for doing what the Congress could not for 60 years with regard to the rupee value. The crisis has been sparked by a series of issues including a faltering economy - the central bank has defied market calls for rate hikes - and tensions with the United States, which has hit Turkey with sanctions over its detention of an American pastor.

by | August 14, 2018 | 15:25

The unidentified firefighter was killed on Monday while battling the Ranch Fire , one of two blazes that make up the Mendocino Complex, which has already charred about 349,000 acres (141,200 hectares), the California Department of Forestry and Fire Protection (Cal Fire) said.

by | August 14, 2018 | 14:13

The drop is down to a ideal storm of fresh U.S. sanctions against the country, economic conditions in Turkey , and a strong dollar that is pulling foreign investment out of Turkey and back to the United States. Turkey scrambled a delegation to Washington last week to stave off the crisis but no deal has been reached. "We are together in North Atlantic Treaty Organisation and then you seek to stab your strategic partner in the back".

by | August 13, 2018 | 23:40

Total issuance is expected to top 90 billion yuan (US$14 billion) in 2018, according to a January forecast by JPMorgan Chase, recovering from last year's 40 per cent slump to 71 billion yuan and a far cry from the record 116 billion yuan record in 2016.

by | August 13, 2018 | 20:40

The complaint filed by Kalman Isaacs said Musk's alleged false and misleading tweets on August 7 about a possible going-private transaction, and Tesla's failure to correct them, were a "nuclear attack" on short-sellers that inflated Tesla's stock price and violated federal securities laws.

by | August 13, 2018 | 18:28

Asian and European markets tumbled and the Turkish lira dived nearly 8 per cent Monday on fears that the economic crisis gripping Turkey could spill over into the global economy. "On Trump's recent proposal (of talks), our official stance was announced by the president and by us". Trump added, "Our relations with Turkey are not good at this time!" The Turkish government has so far struggled to soothe investors' concerns.

by | August 13, 2018 | 17:40

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 . "Doing our best with the limited information we have, we come to the conviction that Tesla is unlikely to go private, and anticipate the board will reject Elon Musk's offer or approach", New Street's Pierre Ferragu, who has a $530 price target for the stock, said in a report Monday.

by | August 12, 2018 | 21:42

The technology sector has been at the center of a sharp recovery in USA stocks since a market rout in February. Meanwhile, concerns over escalating trade conflict between the US and China weighed on the trade-sensitive S&P 500 Industrials Index, which ended up losing 0.57% on the day.

by | August 12, 2018 | 12:01

Tesla shares fell 1.5% to United States $ 374 in Wednesday's trading after closing 11% higher on Tuesday. The computer system is called Hardware 3, and has apparently been designed so that it can be dropped into the Model S, X, and 3 vehicles, as a replacement part.

by | August 11, 2018 | 23:58

Tuesday's announcement was not a surprise. A 25% import tariff on United States beans has seen soybean prices rise and, coupled with poor Chinese pig margins that has depressed demand for soymeal, helping turn Chinese crush margins negative for nearly all of the next six months.

by | August 11, 2018 | 23:56

The SEC now "designates September 30, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change". The market cap at the time of press had fallen to just above 231 billion, a new low since November 2017. On Thursday morning, the cryptocurrency market saw a nice influx of buying volume, with Bitcoin quickly recovering by 3% and altcoins following closely behind.

by | August 11, 2018 | 23:48

Mr Johnson read the label but said he was never warned the product could cause cancer, Mr Wisner said. "Hopefully, this thing will get the attention it needs so folks can make a good choice". Monsanto always denied any link to the disease and said studies concluded the product was safe. Johnson hugs one of his lawyers after hearing the verdict to his case against Monsanto at the Superior Court Of California .

by | August 11, 2018 | 18:37

In response to unions serving strike notices, Ryanair had announced the cancellations of 250 flights in and out of Germany , 104 to and from Belgium and another 42 in Sweden and its home market of Ireland , where around a quarter of its pilots were staging their fifth 24-hour walkout.

by | August 11, 2018 | 13:55

Turkey says doubled tariffs on Turkish steel and aluminium announced by US President Donald Trump are against the rules of the World Trade Organisation (WTO). The US may also be stuck on Turkish demands to waive or minimise a treasury fine on Halkbank, a Turkish state bank involved in a court case over violating US sanctions on Iran.

by | August 10, 2018 | 14:44

The US is to impose sanctions on Russia after determining that it used nerve agent against former Russian double agent Sergei Skripal and his daughter, Yulia, in the United Kingdom in March. The Kremlin has repeatedly denied the allegations, while the United Kingdom authorities have provided no proof of Russia's involvement in the case.

by | August 09, 2018 | 11:11

NY just became the first city in the nation to cap the number of ride-sharing vehicles on its streets and require Uber, Lyft, and other companies to pay drivers a minimum rate. Three were taxi drivers reportedly facing financial issues. Six drivers have killed themselves in the past year, including one who shot himself in his auto in front of City Hall after railing against politicians and Uber in a newsletter column.

by | August 09, 2018 | 04:41

The office said the move is part of the USA response to China's unfair trade practices related to the forced transfer of American technology and intellectual property. Such practices include rules compelling companies in certain sectors to take on local partners if they want to do business in China. The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of USA goods including coal, grease, Vaseline, asphalt and plastic products, and recyclables.

by | August 09, 2018 | 04:12

According to the Snap's second-quarter earnings report, the number of daily active users have dropped from 191 million in the first quarter of the year to 188 million. Snap said Tuesday that third-quarter revenue would be $265 million to $290 million. A video was attached to the tweet which documented the moment Alwaleed met Snap's chief executive Evan Spiegel two years ago, when Spiegel visited Riyadh alongside the company's chief strategy officer Imran Khan.

by | August 09, 2018 | 03:28

The market was also bolstered by a report on Tuesday from the American Petroleum Institute (API), which said crude inventories fell by 6-million barrels in the week to August 3 to 407.2-million. USA crude stockpiles were also expected to have dropped last week. Total volume traded was about 48 per cent below the 100-day average. At 0244 GMT, September WTI crude oil futures are trading $68.81, up $0.32 or +0.47% and October Brent crude oil is at $73.58, up $0.37 or +0.51%.

by | August 08, 2018 | 22:44

Lawyers said every word of Musk's tweets will be examined, including why he used words like "considering", to determine whether he might have tried to inflate the stock price to blow out short-selling investors, a longtime foe. Shares of electric car-maker Tesla opened slightly lower on Wednesday, one day after a proposal to go private pushed the company's stock near an all-time high .

by | August 08, 2018 | 20:24

Ford. The province is hoping brewers will get on board with the buck-a-beer plan and incentives will be offered for those who do. Ford, who was joined by Minister of Finance, Vic Fedeli, and Minister of Government and Consumer Services, Todd Smith, announced that, effective August 27, Ontario's Government for the People will lower the minimum price floor to $1.00 for any beer with an alcohol volume below 5.6 per cent.

by | August 08, 2018 | 12:56

The move is in response to threats by the Trump administration to raise the tariff rate on an additional $200 billion worth of Chinese goods. Trump suggested that his use of tariffs has directly damaged the Chinese economy, something that he said would continue unless they agreed to his demands, which includes allowing more US exports and investments.

by | August 08, 2018 | 08:28

The possibility sent the TSLA stock up +7.39% at the time it was halted . The company is still working its way out of what Musk called "production hell" at its home factory in Fremont, California, where a series of manufacturing challenges delayed the ramp-up of production of its new Model 3 sedan, on which the company's profitability rests.

by | August 07, 2018 | 22:11

Tesla did not respond to a request for comment immediately. "It's not easy to take a company that's losing money private", Galloway said. At a share price of $420, Electrek points out that taking Tesla private would be a costly decision , to the tune of some $70 billion.

by | August 07, 2018 | 21:56

But at around 6 a.m. Tuesday morning, the cleaning crew found the fetus hidden inside the toilet under sheets of toilet paper. Law enforcement officials told WNBC the discovery was made in a bathroom of an American Airlines plane that landed at the Queens hub after leaving Charlotte Monday night.

by | August 07, 2018 | 16:01

Apparently not satisfied with access to its users' call history , text messaging data, and online conversations, Facebook has reportedly asked major Wall Street firms like JPMorgan Chase and Wells Fargo to hand over their customers' sensitive financial data as part of the social media giant's ongoing attempt to become "a platform where people buy and sell goods and services".