• Turkish lira steady despite new threats from Trump
Turkish lira steady despite new threats from Trump

In reality, a number of issues have come between the two North Atlantic Treaty Organisation allies, not least Turkey's plan to purchase the Russian-made S-400 anti-aircraft weapons system. "And he seemed to downplay the risks in the corporate and banking sector posed by large foreign currency debts". "Rates have gone up by 10 percent".

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  • Turkey ups tariffs, says it's willing to talk to U.S.
Turkey ups tariffs, says it's willing to talk to U.S.

Turkey entered into an understanding to the Russian defense system despite being a North Atlantic Treaty Organisation ally, and has been increasingly cozying up to Russian President Vladimir Putin, alarming both the U.S. But she added that Turkey's economic problems "are a part of a long-term trend, something of its own making and not the result of...

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  • Oil prices decline on rising United States stockpiles
Oil prices decline on rising United States stockpiles

The OECD's composite leading indicator, which covers the western advanced economies plus China , India , Russia, Brazil, Indonesia and South Africa, slipped below trend in May and June. The cartel said OPEC production in July, as reported by secondary sources, rose month over month by 41,000 barrels a day to a daily average of 32.32 million b...

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  • Qatar’s emir travels to crisis-hit Turkey in show of support
Qatar’s emir travels to crisis-hit Turkey in show of support

Turkey is in the throes of a full-blown currency crisis , with the Turkish lira losing almost 45 percent of its value since the start of the year. There are certain emerging market countries with relatively weak currencies and a heavy reliance on external (predominately dollar-based) financing.

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  • Turkey doubles tariffs on some USA goods amid rising tensions
Turkey doubles tariffs on some USA goods amid rising tensions

Turkish President Tayyip Erdogan attends a news conference in Ankara, Turkey , August 14, 2018. "In our own country we have Vestel", said Erdogan. The dispute between the North Atlantic Treaty Organisation allies - brought to a new intensity by Turkey's holding of an American pastor for two years - has raised questions over the future of their p...

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  • Rupee hits record low of 70 to dollar, touches 19.05 vs dirham
Rupee hits record low of 70 to dollar, touches 19.05 vs dirham

The Indian Rupee has reached record low an all-time low of 70 .1 per dollar on Tuesday in the wake of Turkey's economic woes. The rupee, which has fallen more than 8 percent this year, has pushed up prices of imported items such as petroleum products, commodities, electronics and engineering equipment, creating a headache for Prime Minister Na...

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  • Investors Flee Emerging Markets Amid Lira Crisis
Investors Flee Emerging Markets Amid Lira Crisis

The dispute between the two North Atlantic Treaty Organisation allies - which reached new intensity over the detention of an American pastor in Turkey - has hammered the lira and also raised questions over the future partnership between Washington and Ankara.

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  • Class-Action Lawsuit Filed Against Tesla After Elon Musk's Tweet
Class-Action Lawsuit Filed Against Tesla After Elon Musk's Tweet

So, even if Musk did post the tweet hoping to damage short sellers by boosting Tesla stock price, it wouldn't be illegal unless it were untrue, she said. mainly due to Tesla's stock boom. "Anybody who purchased the stock on that news, if the news was in fact misleading, could have a claim, however, it would be very short class period".

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  • Elon Musk says Saudis back Tesla buyout
Elon Musk says Saudis back Tesla buyout

The 47-year-old investor and engineer stunned financial markets on Tuesday when he said on Twitter that he was considering a take-private deal for Tesla , an auto manufacturing pioneer that developed the world's first luxury all-electric sedan vehicle.

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  • Trump authorizes doubling of tariffs on Turkey's steel, aluminum
Trump authorizes doubling of tariffs on Turkey's steel, aluminum

The lira has always been falling on worries about Erdogan's influence over monetary policy and worsening relations with the United States. At one point, it was down as much as 19 percent on the day, before rallying a bit to bring it to "only" a 13.7 percent loss.

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  • Oil prices extend gains after U.S. sanctions against Iran
Oil prices extend gains after U.S. sanctions against Iran

The total exported quantities of Oman crude oil during July 2018 has reached 24.08 million barrels, with a daily average of 776,800 barrels. The Turkish lira fell to a new record low against the dollar amid a dispute with the USA government, while the Russian ruble also dropped after US sanctions on the country over its alleged involvement in poi...

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  • Chinese People's Daily newspaper attacks US President Donald Trump on trade policies
Chinese People's Daily newspaper attacks US President Donald Trump on trade policies

China plans to slap additional tariffs on 5,207 categories of USA products with four levels of tariff rates - 25 percent, 20 percent, 10 percent and 5 percent. Among US products targeted in the latest Chinese salvo were a wide range of agricultural and energy products, including liquefied natural gas. "Their economy's weak, their currency is ...

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  • Oil edges lower as supply concerns return
Oil edges lower as supply concerns return

Oil prices tanked earlier this week when the USA government reported that US inventories rose 3.8 million barrels in the prior week, against expectations, but rose on Thursday on expectations the stockpile would soon decline again. The group's 15 members, which now include Congo, collectively produced 32.6 million barrels per day. Total motor g...

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  • Economy adds 157,000 jobs in July
Economy adds 157,000 jobs in July

Since the beginning of this year, the US has seen multiple economic milestones in addition to 1.5 million new jobs. Manufacturing employment continued to rise briskly, by 37,000 in July, in line with business optimism in the sector and on track to far outpace last year's 207,000 gain.

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  • China warns of tariffs on imported United States goods worth $60bn
China warns of tariffs on imported United States goods worth $60bn

But amid that pushback is often the key caveat that Trump might sometimes be on to something. " China has made full preparation for the U.S. threats to escalate the trade war, and will have to retaliate to defend national pride and the people's interests", the ministry said in a statement day on its website.

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  • Sales-tax holidays in Iowa, Wisconsin this weekend
Sales-tax holidays in Iowa, Wisconsin this weekend

There's no Missouri sales tax on school supplies up to $50 or clothing under $100 from Friday through Sunday. A full list of what falls under the sales tax holiday is available online. But in 2013 North Carolina chose to end the annual holiday . Several items in her shop qualify for tax-exempt sales, including hiking shorts and trousers,...

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  • Trump says he would 'certainly meet' with Iran's president
Trump says he would 'certainly meet' with Iran's president

An advisor to Iran's President Hassan Rouhani said Tuesday that any talks with the United States had to start with reducing hostility and a return to the nuclear deal. Garrett Marquis, a spokesman for the president's National Security Council, later said in a statement that the US would not be lifting any sanctions or re-establishing diplomatic and...

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  • Apple becomes world's first public company worth $1 trillion
Apple becomes world's first public company worth $1 trillion

The iPhone-maker's shares struck an all-time high of $207.05 during trading in NY, pushing its market capitalisation past the landmark trillion-dollar level to $1.02 trillion. Also propelling Apple higher in recent months was Apple's announcement that it earmarked US$100 billion for a new share repurchase programme. Apple first listed in 1980 and...

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  • Tesla shares jump after cash burn worries abate, Musk apologizes to Street
Tesla shares jump after cash burn worries abate, Musk apologizes to Street

In his crosshairs is hedge fund manager David Einhorn, who said his wrong bet that Tesla stock would fall was a big reason for his fund's poor performance in the second quarter . Many analysts have questioned how long he can stay insistent, citing lingering doubts that the company can sustain higher Model 3 production levels and afford to pay off ...

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  • Facebook is sued after stock plunge
Facebook is sued after stock plunge

In a research note, he said Facebook's outlook "suggests that while the company is still growing at a fast clip, the days of 30 percent-plus growth are numbered". That almighty crash comes as the result of Facebook shares collapsing by 18% when the New York Stock Exchange opened its doors. While privacy was an issue in Europe, politics play...

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  • Temperatures to PLUMMET this weekend after record breaking 37c HEAT
Temperatures to PLUMMET this weekend after record breaking 37c HEAT

Motorists have been warned that lightning, flash flooding and large hailstones could hit eastern parts this afternoon, with a thunderstorm warning in place from about 2pm until just before midnight. The most intense conditions are perhaps yet to come with forecasted highs of 37C (98.6F) and potential thunderstorms. The Met Office says temperature...

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  • United States and European Union should ‘drop all Tariffs, Barriers and Subsidies’, Trump says
United States and European Union should ‘drop all Tariffs, Barriers and Subsidies’, Trump says

Shares of BMW AG, Volkswagen AG, Fiat Chrysler Automobiles NV and Daimler AG jumped on Thursday following a pledge from the two leaders to "hold off on other tariffs" while they negotiate a deal to expand European imports of USA liquefied natural gas and soybeans and lower industrial levies.

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  • Facebook Shares Plummet After Missing User, Revenue Targets
Facebook Shares Plummet After Missing User, Revenue Targets

Fourteen analysts surveyed by Zacks Investment Research expected $13.4 billion. The earnings call that cast serious doubt about Facebook Inc.'s seemingly unstoppable growth started normally enough. Its total user count represents an 11 percent increase over the year-ago period. Facebook's daily- and monthly- active user figures were all belo...

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  • Ahead of EU Meeting, Trump Rails at Domestic Critics
Ahead of EU Meeting, Trump Rails at Domestic Critics

Agriculture officials say the plan will not require congressional approval. Perdue said more details about the aid will be announced by the beginning of September, which was the timeline he laid out last week. The Trump administration has announced plans to provide billions of dollars to help American farmers. amid Washington's escalating tra...

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  • Ex-Ferrari boss Sergio Marchionne dies aged 66
Ex-Ferrari boss Sergio Marchionne dies aged 66

He built the dysfunctional companies into the world's seventh-largest automaker. "Our entire team at Renault-Nissan-Mitsubishi were saddened to learn of the death of Sergio Marchionne ". Sergio Marchionne , who engineered turnarounds to save both Fiat and Chrysler from near-certain failure, has died. And many of us have lost a very dear friend: ...

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