Finance

Turkish lira firms against dollar ahead of Albayrak presentation

Turkish lira firms against dollar ahead of Albayrak presentation Turkey's Vice President Fuat Oktay has said Turkey has increased customs duties on some United States products including alcohol, cigarettes and cars in retaliation to Washington's tariffs on Turkish aluminium and iron. In an effort to defend the lira, Turkey's central bank tightened its rules on currency swaps and other foreign exchange transactions, limiting banks' ability to supply lira to f... [Full Article...]

Detained Pastor Brunson causing Turkey-U.S. tension files fresh appeal

Detained Pastor Brunson causing Turkey-U.S. tension files fresh appeal Mr Erdogan suggested Turkey would stop procuring US-made iPhones and buy Korean Samsung or Turkish-made Vestel devices instead. Turkey sought to face down the USA and currency traders as its president, Recep Tayyip Erdoğan , reportedly received support from the German chancellor, Angela Merkel. [Full Article...]

Rupee falling not a worry, says government

Rupee falling not a worry, says government India would not be concerned if the rupee currency fell to 80 against the dollar after hitting an all-time low of 70 .1 on Tuesday, as long as other currencies also depreciated, a senior finance ministry official said. At 10:35am, the rupee was trading at 70.07 a dollar, down 0.21% from its previous close of 68.93. According to NDTV , analysts have stated that crisis has been pending for a w... [Full Article...]

Turkey will boycott US electronics: Turkey

Turkey will boycott US electronics: Turkey 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. [Full Article...]

Musk says talking to Saudi fund, others on Tesla buyout

Musk says talking to Saudi fund, others on Tesla buyout While explaining the logic of taking Tesla private, Musk had stated in a blog post: "As the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company". [Full Article...]

Turkey says Trump tariff move will harm ties, vows retaliation

Turkey says Trump tariff move will harm ties, vows retaliation Turkey said it would respond to the new US tariff action "without delay" and warned the move would further harm relations between the two countries. 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. [Full Article...]

Oil steady as concern over Iran sanctions offset weak Chinese imports

Oil steady as concern over Iran sanctions offset weak Chinese imports It shipped out nearly 3 million barrels per day (bpd) of crude in September, equivalent to around 3 percent of global demand. Exports to Japan also surged to a seven-month high as refiners rushed to secure as many cargoes as possible before USA sanctions are re-applied. [Full Article...]

Wall Street sees funding hurdle to Musk's plan to take Tesla private

Wall Street sees funding hurdle to Musk's plan to take Tesla private A Tesla spokesperson declined to comment. In the last week, Tesla's board has met "several times" to discuss Musk's proposal and "is taking the appropriate next steps to evaluate this". Bernstein analyst Toni Sacconaghi said Musk's statements puts Tesla under pressure to detail how it intends to proceed with the deal to go private. [Full Article...]

China state media attacks Trump on trade in unusually harsh terms

China state media attacks Trump on trade in unusually harsh terms Chinese state media on Monday reportedly called President TrumpDonald John TrumpSouth Korea urges Pyongyang to speed up denuclearization process More than a dozen arrested as protesters, counter-protesters clash in Berkeley Trump golfs with Graham at New Jersey club MORE 's trade policies "extortion" in an article framing the president as a delusional actor playing make-believe. [Full Article...]

China Tariffs on US Crude Not Game-Changing Event

On Tuesday, the Trump administration said it would begin collecting previously announced 25% tariffs on an additional $16bn of Chinese goods from 23 August. Analysts from Oxford Economics have predicted that China's GDP growth may slow to 6.4 per cent this year, from 6.9 per cent in 2017, as the effects of the trade war weigh. [Full Article...]

Dead fetus found toilet on American Airlines plane at LaGuardia

Dead fetus found toilet on American Airlines plane at LaGuardia Monday and that a cleaning crew made the discovery inside a bathroom early Tuesday. An American Airlines spokesman confirmed that the incident is now under investigation. A dead fetus was found on a plane that flew to NY from Charlotte Monday night. The Port Authority deferred questions to the Queens DA's Office, which said it was looking into the matter. [Full Article...]

Conor McGregor to return to UFC with October title bout

Conor McGregor to return to UFC with October title bout McGregor , 30, hasn't set foot inside the Octagon since claiming the lightweight title 20 months ago in the main event of UFC 205, a card where he became the promotion's first simultaneous two-weight world champion. McGregor was arrested, but was sentenced last month to perform five days of community service, avoiding jail time in a plea deal. Diaz says that White did not have his back while h... [Full Article...]

Oil dented by rising tide of supply

Oil dented by rising tide of supply South Korea's imports of US crude jumped more than fourfold to 14.1 million barrels in the first half of the year from a year ago, according to data from state-run Korea National Oil Corp. Output by Saudi Arabia has also risen recently to around 11 million bpd, according to Reuters . There were also factors holding oil markets in check. [Full Article...]

Trade threats unnerve global markets

Trade threats unnerve global markets The White House's thoughts on increasing the proposed tariffs were first reported by Bloomberg . Officials have cautioned that a specific timetable, the issues to be discussed and the format for talks aren't finalized, but added there was agreement among the principals that more discussions need to take place. [Full Article...]

Sales tax holiday starts Wednesday

Sales tax holiday starts Wednesday Over the weekend, people across the state of MS hit the racks for Tax Free Weekend. She also suggests that shoppers research stores in the area in advance to find out any additional sales that they made have. The report references studies that show tax holidays don't significantly boost yearly retail sales. Qualifying items in Missouri include clothing and shoes under $100, school suppl... [Full Article...]

More than 350 people report getting sick from Chipotle

More than 350 people report getting sick from Chipotle Comparatively, Chipotle Mexican Grill has a beta of 0.5, indicating that its stock price is 50% less volatile than the S&P 500. OH health officials say they've received 368 reports of people getting sick stemming from a Chipotle restaurant in Sawmill Parkway in Powell. [Full Article...]

Apple Becomes First U.S. Company to be Worth $1 Trillion

Apple Becomes First U.S. Company to be Worth $1 Trillion It now accounts for 4 per cent of the S&P 500. The milestone comes a day after Apple reported blockbuster quarterly earnings . Apple's own "Stocks" app, which is based on Yahoo Finance data, also put the company's value at $1.01 trillion. [Full Article...]

Facebook's 20%, $120B 1-day stock drop worst in USA history

Facebook's 20%, $120B 1-day stock drop worst in USA history It's quite possible that Facebook's shares could recover and continue to climb. Facebook suffered a blow in China on Wednesday when regulators there withdrew their approval of a company innovation hub to support local startups, the New York Times reported on Wednesday, citing a person familiar with the matter. [Full Article...]

Trump admin plans to help farmers hurt by global trade tensions

Trump admin plans to help farmers hurt by global trade tensions Industry experts said the trade war could exacerbate a long-term trend of family farms succumbing to economic pressures and selling to larger multi-national conglomerates. During a Monday event at the White House featuring American-made goods, Trump displayed a green hat that read, "Make Our Farmers Great Again". "Now they have to pay, '" Reinsch said, echoing the president's argument. [Full Article...]

Euro perched at three-day high on trade talk hopes

Euro perched at three-day high on trade talk hopes President Trump and European Commission President Jean-Claude Juncker said Wednesday that they have agreed to work toward removing all trade barriers between the two sides. The EU and the USA have been embroiled in a tit-for-tat trade row in the last few months after Mr Trump imposed tariffs on steel and aluminium imports. [Full Article...]


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