Economy / 105

Trump disparaged son, Harriet Tubman, says former White House aides book

August 15, 2018

President Donald Trump called Omarosa Manigault Newman a low life and a dog in response to allegations she made against him. Donald Trump asked Simmons, "What do you think of Ivanka?" "After the relationship was rocked by cheating claims from adult film star Stormy Daniels Rudy Giuliani, 74, attorney to President Donald Trump said: "(Melania) believes her husband, and she knows it's untrue".

Erdogan Vows to Boycott U.S. Electronic Goods Amid Pastor Spat

August 15, 2018

Two Turkish business lobbies and the heads of two banks increased pressure on the government and central bank to act to stem a slide that saw the lira lose more than a quarter of its value in less than two weeks. Even more, Trump's direct reference to the Turkish lira sent the currency tumbling. Higher rates would slow economic growth, which he wants to egg on, but are urgently needed to support the currency and tame inflation, experts say.

Turkey to boycott U.S. electronics, including iPhone

August 15, 2018

The Turkish lira has lost more than 40 percent of its value. On Wednesday, the lira traded at 6.4125 to the US dollar, weakening from a close of 6.3577 a day earlier. "The import duties were increased on some products, under the principle of reciprocity , in response to the United States administration's deliberate attacks on our economy", Turkey's Vice President Fuat Oktay wrote in a Twitter post.

Turkey's Erdogan pledges boycott on United States electronics

August 15, 2018

Brunson, 50, was indicted by a Turkish court on charges of having links with the Kurdistan Workers' Party (PKK) militant group and the movement of the US-based opposition cleric Fethullah Gulen, whom Ankara accuses of having masterminded the July 2016 coup attempt against President Recep Tayyip Erdogan.

Diverse candidates rule the night and other takeaways from Tuesday's primaries

August 15, 2018

Describing her push for education reform, a living wage, and Medicare for All, Hallquist said , "this is called being a civil society". Gov. Phil Scott won the Republican Party nomination, but not without taking a pounding in the polls Tuesday night.

Nigeria, two others push OPEC oil output higher

August 15, 2018

West Texas Intermediate crude for September delivery slid $1.53 to $66.10 (R928.95) a barrel at 12.12pm on the New York Mercantile Exchange. Despite the cautious mood in oil markets, bullish sentiment found some support from expectations that USA sanctions against Tehran would restrict Iranian crude exports, tightening global supply.

Detained US pastor in Turkey appeals for release 46min

August 14, 2018

Erdogan said Turkey is facing an "economic siege", calling the decline of the lira an "attack against our country". The Turkish lira has nosedived against the dollar and other currencies in the past week, sparked by concerns over President Recep Tayyip Erdogan's economic policies and a dispute with the United States over the detention of an American pastor , who is on trial on espionage and terror-related charges.

Tumbling Turkish lira gives shoppers a luxury goods bonanza

August 14, 2018

His assurance came after Turkey's president blamed the lira's plunge on a plot against the country. There is no economic reason ... The Turkish currency has stabilized near record lows as investors gauge the government's next move to avoid a full-blown financial crisis.

Goldman, Silver Lake Advice Tesla On Going Private Plan

August 14, 2018

He later tweeted he was working with buyout firm Silver Lake and investment bank Goldman Sachs as financial advisers on his plan. On August 2, Musk notified the Tesla board about his intention to take Tesla private at US$420 per share - a 20% premium.

Vienna topples Melbourne in 'most liveable city' ranking

August 14, 2018

And while Australia may have missed out on first place this time, three of its cities were among the best scoring, with Adelaide (96.6%) and Sydney (97.4%) coming behind Melbourne in 10th and fifth place. Pakistan's Karachi was ranked just above Lagos, again most-likely due to security concerns, while Papua New Guinea's Port Moresby was ranked 136 due to its high level of crime.

More than 100 large wildfires in United States as six new blazes erupt

August 14, 2018

Commanders from CAL FIRE and the U.S. Forest Service confirmed the death. A few days ago the 295,970-acre Ranch Fire , part of the Mendocino Complex of Fires east of Ukiah, California , became the largest wildfire in the recorded history of the state.

Rupee falling not a worry, says government

August 14, 2018

The rupee registered a sharp decline of 109 paise to close at 69.93 against the USA dollar on Monday - the biggest single-day drop in past five years. Turkey's lira remained under pressure in Asian trade today but markets in the region enjoyed a little more stability after the previous day's turmoil.

Asian markets mixed after Wall St falls on Turkey jitters

August 14, 2018

In early European trade on Monday , the lira was trading at 6.6 to the dollar , a loss of another 3.3 percent on the day but recovering from even sharper losses in earlier Asian trade which it struck a record low of 7.2362 to the dollar. "This a plot to force Turkey to surrender in every field from finance to politics, to make Turkey and its people to kneel down". President Trump last week imposed sanctions on Turkey over its refusal to release an imprisoned United States ...

UK firms struggle to hire with Brexit, record low jobless rate

August 13, 2018

The GBP/USD is trading at the lowest level since August 31 previous year as the United Kingdom cabinet said it will meet in September to prepare plans for a no-deal Brexit scenario. His comments echoed those Bank of England Governor Mark Carney last week. Last week, the Bank of England (BoE) raised interest rates above their crisis lows for the first time in almost a decade.

Saudi Arabia's PIF Has Shown No Interest In Bankrolling Tesla Buyout

August 13, 2018

The US Securities Exchange Board has questioned the authenticity of Musk's tweets. Tesla Inc. Chief Executive Elon Musk said he has been in talks with the Saudi Arabian sovereign-wealth fund about taking the electric-car maker private and believes two-thirds of current shareholders would remain with the company, lessening the capital needed to make a deal work.

Trump Threatens Tariffs on Canadian-Made Cars

August 13, 2018

After a second day of meetings with US Trade Representative Robert Lighthizer in Washington , Guajardo said talks were "advancing" but that it was not clear how long it would take to settle US-Mexico issues before Canada would come back to talks.

Family, friends recall man who crashed stolen plane as hard-working, kind

August 12, 2018

The man sounds calm at times and jokes with operators on the ground, who try to direct him to places to land. While he was in the air, Russell described himself to air traffic controllers as "just a broken guy" with "a few screws loose".

Elon Musk Got 1.4 Million Dollars Richer Because Of A Tweet

August 12, 2018

One lawsuit, filed by Tesla investor Kalman Isaacs, said Musk's tweets amounted to a "nuclear attack" on short-sellers, created to "completely decimate" them for not believing in Tesla's stock to date. The Securities and Exchange Commission is investigating Musk's disclosure of the potential deal, according to reports earlier this week. They have cited as evidence Musk's tweet that came on August 7 and the very next day, Tesla shares went up by around 13%.

Turkey says Trump tariff move will harm ties, vows retaliation

August 12, 2018

American evangelicals have pressed Mr Trump for action on Pastor Brunson, who was held in prison for nearly two years but was recently moved to house arrest . Erdogan added that Washington had always "failed to understand and respect the Turkish people's concerns". The ECB is concerned that the contagion will result in Turkish borrowers defaulting on foreign currency loans, which make up about 40 percent of the Turkish banking sector's assets, according to the Financial Times .

Turkey turmoil rattles Wall Street, banks take a knock

August 12, 2018

The Russell 2000 gained 13.43 points , or 0.8 per cent. But all three ended the day in the red: the Dow fell 196.09 points (0.77 per cent) to 25,313.14 while the S&P and Nasdaq shed 20.30 points (0.71 per cent) and 52.67 points (0.67 per cent) respectively to finish at 2,833.28 and 7,839.11.

Family of USA man presumed dead after crashing stolen plane left 'devastated'

August 12, 2018

The man, described by police as a 29-year-old mechanic, says that he has a lot of people that care about him. In a brief statement one day after the shocking incident, Russell's family said they were in "devastated". "I've played some video games before". On a SoundCloud site, Russell interviews fellow ground service agents, asking them questions that include: "What was one of your best travel experiences using your flight benefits?" Mr Southers said the man could have caused mass ...

Tesla confirms AI chips, Musk threatens to take company private

August 12, 2018

In a statement on Tesla's website , six of Tesla's nine directors said the board had met several times over the last week to discuss such an idea and was "taking the appropriate next steps to evaluate this". "I wish we could be private with Tesla", Musk said in an interview with Rolling Stone published in November. As a private company, Tesla would only be able to sell new shares to institutions and individuals who have annual income of at least $200,000 or a minimum net worth of $1 ...

Mechanic steals empty plane from Seattle's airport, crashes

August 12, 2018

Two military F-15s were scrambled to pursue the plane, but were not involved in the crash. After a ride full of risky loop-the-loops moves and weird conversation with the air traffic controllers, Richard wasn't able to land safely and crashed into a heavily wooded area on Ketron Island causing the jet became engulfed in flames.

United States jury orders Monsanto to pay $289m in Roundup trial

August 11, 2018

Mr Johnson's lawyer, Brent Wisner , said the jury's verdict showed that the evidence against the product was "overwhelming". "Hopefully, this thing will get the attention it needs so folks can make a good choice". California added glyphosate to its list of chemicals known to cause cancer. But Partridge said hundreds of scientific studies and government agencies have concluded that its Roundup weed killer doesn't cause cancer.

China state media: US has a "mobster media"

August 11, 2018

China said on Wednesday that it will impose 25% tariffs on an additional USA $16 billion worth of American good from Aug 23. So far, China has now either imposed or proposed tariffs on 110 billion dollars of US goods. The yuan has declined by 8 percent this year against the dollar and by about 4 percent against a basket of global currencies . The unusually strong July import figures reflected higher prices, according to Julian Evans-Pritchard of Capital Economics.

VanEck Investment Firm Joins The Bitcoin ETF Race

August 11, 2018

The proposed rule change from CBOE would, if approved, constitute a critical point on a path to listing a bitcoin ETF, in conjunction with money management firm VanEck and crypto startup SolidX. A physical ETF is one where the underlying asset - in this case, BTC - is physically held by the issuing company. Optimists are counting on the wider adoption of cryptocurrencies to support prices, but regulators and many institutional investors have remained wary amid concerns over security ...

Ryanair pilot strike affects 14,000 passengers on Spanish flights

August 11, 2018

The airline said that over 2,000 flights, or 85 percent of the schedule, would operate as normal and that the majority of passengers affected have been re-booked on other Ryanair services. Customers were notified as early as possible and a majority of those affected had already been moved to another Ryanair flight, the airline added. Today's unprecedented simultaneous strike action by Ryanair pilots is the latest headache in a turbulent summer for Europe's second-largest airline.

Crypto Market Remains Low As Major Currencies Suffer

August 11, 2018

The US SEC officials have publicly labeled bitcoin as a commodity and in June made it clear that cryptocurrencies would not be treated like securities , The Intercontinental Exchange announced a partnership with major companies, including Starbucks and Microsoft, that will aim to create an open and regulated digital asset ecosystem ' Bakkt '.

Erdogan says attempts to exert economic pressure on Turkey futile

August 11, 2018

The tumble in Turkey's currency on Friday signaled deepening pessimism about the country's economy after months of market declines. All week, the lira has been under pressure, which accelerated with the failure of diplomatic talks in Washington this week.

Trump hits Turkey with tariffs as talks to free pastor deadlock

August 11, 2018

Trump said on Twitter . On March 1 , Trump had announced global tariffs of 10 percent on all aluminum to the USA and 25 percent on all steel imports. Turkey's exceptionally large current account deficit makes the country's potential to fall into a severe debt crisis even greater. 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.

China To Slap Additional Tariffs On $16 Billion Worth Of US Goods

August 09, 2018

China's payback presents its own challenges. Tariffs would make USA oil uncompetitive in China. The move is the latest escalation of President Donald Trump's trade war with China . Such practices include rules compelling companies in certain sectors to take on local partners if they want to do business in China. The latest commentary from state media on Wednesday took a softer line after resorting to personal attacks against Trump earlier in the week, saying China could get through the ...

New York City votes to cap Uber, Lyft vehicle licenses

August 09, 2018

Mayor Bill de Blasio still needs to sign it into law, but it's believed that he will do that soon. The study recommended a $17.22 hourly minimum wage after expenses, arguing the measure would cover the costs of owning and driving a auto in the city and allow for paid time off.

Trump going ahead with tariffs on $16B in Chinese imports

August 08, 2018

For its part, China has threatened to ratchet up the tit-for-tat trade war by slapping tariffs on another $60bn of American imports. The announcement came hours after USA trade officials announced that the first round of President Donald Trump's punitive tariffs on China will hit $50 billion in goods starting august 23, with the addition of 279 products totaling $16 billion to the target list.

Tesla board evaluating CEO Musk's idea to take company private

August 08, 2018

The move to take the company public would remove Musk , who himself has a 20 percent stake, from the public arena - and contentious criticism. Tesla CEO Elon Musk tweeted Tuesday that he's is mulling taking Tesla private at US$420 a share.

Oil falls on slowing Chinese demand, U.S.-China trade spat

August 08, 2018

Brent crude for October delivery increased by 1.03 percent and steeled at 75.55 dollars per barrel on ICE Futures Europe. Washington wants as many countries as possible to cut imports of Iranian oil to zero, a senior US administration official said in a telephone press briefing.

Snapchat Loses 3 Million Daily Users, But Posts Q2 Earnings Beat

August 08, 2018

Snapchat rolled out a massive redesign to its app in November of previous year that stirred quite a bit of controversy . Snap lost about 1 million users in each of its three geographic reporting regions: North America, Europe and rest of world.

Trump touts effectiveness of tariffs in string of tweets

August 08, 2018

Last Friday, China's Finance Ministry introduced new sets of additional tariffs on 5,207 goods imported from the United States worth $60 billion. The US President, further highlighting the effectiveness of "America First Tariffs", said that move had a positive impact on the Steel Industry. "The magnitude, we don't know yet", Kassis said.

Elon Musk just tweeted he's considering taking Tesla private

August 08, 2018

Earlier in the day, the Financial Times reported that Saudi Arabia's sovereign wealth fund, overseen by Crown Prince Mohammed bin Salman, has built an undisclosed stake of between three and five per cent stake in Tesla . However, the structure envisioned for Tesla is similar in many ways to the SpaceX structure: external shareholders and employee shareholders have an opportunity to sell or buy approximately every six months.

Ford Announces Buck-a-Beer Plan

August 08, 2018

NDP Leader Andrea Horwath said at Queen's Park on Tuesday there is no doubt Ford's plan will cost the LCBO money. That minimum price had been $1.25 under the Liberal government for a decade. Meek says Kitchesippi contributes to the community through a variety of charitable events and supports a staff that is well-paid with good benefits, both of which would have to be cut if he were to cut the price of a bottle of beer to a dollar.

Tesla, Inc. (TSLA) distanced 42.91% to its 52-Week Low = Technical Analysis

August 07, 2018

Tesla had a record loss of $718 million in the second quarter, but investors and analysts focused on the positives, and more importantly on Musk's behavior on the conference call. Finally, Royal Bank of Canada set a $280.00 price objective on shares of Tesla and gave the company a "neutral" rating in a research note on Monday, July 9th.

Elon Musk says he's considering taking Tesla private

August 07, 2018

The BBC has been unable to verify the post was written by Mr Musk himself, but it has pushed the shares 6% higher. " Funding secured ", Musk's account tweeted . Musk has had feuds with regulators, critics and reporters, and questions remain about Tesla's production and manufacturing difficulties, long-term demand for its cars and uncertainty over funding.

[BREAKING] Dead baby found aboard plane at LaGuardia airport

August 07, 2018

The fetus was found at about 7 a.m. on an American Airlines flight that had landed Monday night from Charlotte. Fetus was thought to be 5 months along . LaGuardia Airport confirmed on Twitter that no additional delays are expected. MailOnline reported that AA, Port Authority Police and Queens District Attorney's Office are now working together to investigate what happened to the fetus.

Facebook might add your banking info to Messenger

August 07, 2018

According to the Journal , at least one large US bank pulled away from talks with the company as a result of privacy concerns. While Facebook insisted in response to the Journal's story that it doesn't want to use any of this data for advertising purposes or share it with third parties, many pointed out that there is no reason to trust Facebook's expressed commitment to user privacy, particularly in the wake of the Cambridge Analytica scandal and other abuses .

NASCAR CEO Allegedly Had BAC Over 0.18 When Stopped

August 06, 2018

France, 55, was stopped in Sag Harbor after he failed to stop at a posted stop sign, police said in a news release Monday. We're told France's blood alcohol level was more than TWICE the legal limit. France publicly endorsed Trump for president in early 2016 at a rally in Georgia. France became chairman and CEO of NASCAR in 2003, a position that makes him one of the most powerful figures in sports.

Indra Nooyi to step down as PepsiCo chief executive

August 06, 2018

He noted that, under Nooyi, PepsiCo expanded its portfolio of "Good for You" and "Better for You" options from about 38 per cent of revenue in 2006 to about 50 per cent in 2017, while simultaneously nearly tripling the company's investments in research and development to expand more nutritious offerings and minimize its environmental impact.

Jeep Wants to Ban Mahindra Roxor in US, Here’s Why

August 06, 2018

The Roxor certainly looks a whole lot like an old CJ Jeep , but a key differentiation is that the Mahindra is not street legal. But it seems all bets are now off for Fiat Chrysler , which drew the USA trade commission's attention to Mahindra's "substantial foreign manufacturing capacity combined with its demonstrated intention to penetrate the United States market and harm FCA's goodwill and business".

Trump Talks Illegal Immigration, Border with Allied GOP Governors

August 06, 2018

He is a great Congressman who is tough on crime & borders & inspiration to our Military & Vets. The crowd chanted "speaker of the House", a reference to the possibility that Jordan will seek the speakership after November's midterm elections.

Growing glut of high-quality crude signals danger for oil market

August 05, 2018

Brent prices fell more than 6 percent and US crude slumped about 7 percent, the biggest monthly declines for both benchmarks since July 2016. Light, sweet crude for September delivery fell 1.7 per cent to $67.58 a barrel on the New York Mercantile Exchange.

Ryanair nominates mediator to break deadlock with striking Irish pilots

August 05, 2018

Trade union Forsa, which represents the pilots, hit out at the airline company following the warning. Europe's biggest airline by passenger numbers agreed to recognise unions for the first time late previous year but negotiations since have faltered.

Solid July Jobs Report Points to Momentum in Q3

August 05, 2018

July wasn't a stellar month for hiring in the USA healthcare sector, with fewer jobs added in ambulatory care, hospitals and nursing facilities compared with a month earlier. This puts the average for the last 12 months at 200,000, higher than the 185,000 in the previous 12 months, a rare. "That is pathetic", economist Joel Naroff wrote in a client note.

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