Economy / 104

Sears Closing 46 More Stores

August 24, 2018

Last year, the Valley lost Kmart stores in Coalinga and Kingsburg. Liquidation sales are expected to begin next week. Hit by decreased foot traffic and lackluster sales online, the company has closed hundreds of stores in recent years.

Democratic Senators to Trump on Manafort, Cohen Pardons: Don't Go There

August 24, 2018

Cohen's voice cracked several times as he pleaded guilty to eight criminal charges in federal court in Manhattan, including tax evasion, bank fraud and campaign finance violations. Perspective on former Trump attorney Michael Cohen's plea deal and former Trump campaign chairman Paul Manafort's conviction from an worldwide and criminal law specialist.

Trump rips Federal Reserve chair Jerome Powell for raising interest rates

August 23, 2018

Donald Trump has criticised the US Fed chief for raising interest rates. "I'm not thrilled ", the president, who himself appointed Powell to lead the central bank, told Reuters on Monday . Shoprite's shares were higher by 3.05% after falling more than 4% on Tuesday on the back of its first annual earnings decline in 19 years. The criticism comes after a private Republican fundraiser on Friday, during which Trump reportedly attacked Powell's interest-rate hikes.

The Pixel 3 XL leaks aren’t stopping

August 23, 2018

Thanks to Rozetked .me we've got a clear look at the front of the handset, once again confirming that it will have a pretty noticeable notch at the top and a chin on the bottom. The source claims the notch features two cameras and a speaker but it seems more likely this is a single lens camera and a sensor. In addition to addressing fan concerns from the Google Pixel 2 and Pixel 2 XL , the device is expected to come packing turbocharged internals, a revamped look and improved camera ...

Stocks mostly rise on hope for progress on China trade talks

August 23, 2018

Though it is too early for trade damage to show up in much economic data as yet, tariffs are beginning to increase costs for consumers and businesses on both sides of the Pacific, forcing companies to adjust their supply chains and pricing, with some US companies looking to decrease their reliance on China .

U.S. oil prices recover from struggles in past weeks

August 23, 2018

Still, traders said overall market sentiment was cautious because of concerns over the demand outlook amid the trade dispute between the United States and China . "Part of the weakness we've seen in crude oil has largely been due to trade as people are concerned that increasing tariffs and tensions on trade are going to increase the level of uncertainty and potentially reduce global GDP demand", said Brian Kessens, portfolio manager and managing director at Tortoise.

United Kingdom to publish first batch of no-deal Brexit notices

August 23, 2018

If the European Union responds with the level of ambition and pragmatism, we will strike a strong deal that benefits both sides. These have ranged from health bodies' concerns about medical supplies crossing borders to the impact of trade barriers on United Kingdom farmers.

Russian Federation is stockpiling gold as fresh sanctions from United States loom

August 23, 2018

Speaking after talks with Finnish counterpart Sauli Niinisto in Sochi, Putin described last month's Helsinki summit with U.S. President Donald Trump as positive, but blamed Trump's administration for continuing to hit Russian Federation with sanctions .

Mentor names Kaunda at state capture probe

August 23, 2018

The inquiry will in part establish whether official appointments were "disclosed to the Gupta family or any other unauthorised person before such appointments were formally made", said inquiry head Zondo. The family wanted her to cancel South African Airways route to India, she alleged. At the time Kaunda acknowledged that she had several meetings with Tony Gupta at the family's Saxonwold residence but said she was "not engaged in any business relationship with the Gupta family".

S&P 500 hits record high on way to longest market rally

August 23, 2018

The afternoon release of the minutes didn't have much of an impact on the market, which continued to trade in a narrow range. It could become the longest bull market ever ... The US central bank members said a large prolonged trade dispute could hurt business sentiment, investment spending and employment - and that wide-ranging tariff increases would reduce the purchasing power of US households.

Dollar dented by Trump's Fed comments

August 22, 2018

The greenback has been on the ascent in recent months as United States borrowing costs have gone up and the economy improves but it stumbled after Trump's latest criticism of the central bank. Powell is a gentleman and will likely hold his tongue, but don't dismiss a future response if Trump's tantrums continue in time. Presidents usually avoid criticizing the central bank, which is created to be independent from political interference.

Giuliani: Trump not included in Cohen charges

August 22, 2018

The two findings of guilt against Cohen and Manafort ratchet up political pressure on Trump and fellow Republicans ahead of November elections, in which Democrats are seeking to regain control of Congress. "I do believe that he has information about Mr. Trump that would be of interest both in Washington as well as NY state", Davis told Chris Cuomo on CNN's "Cuomo Prime Time ".

U.S. missionary thrust to the center of Turkey-U.S. crisis

August 22, 2018

The U.S. has called the charges against him baseless. Treasury Secretary Steve Mnuchin on Thursday said that the United States would levy more sanctions on the troubled Turkish economy if Ankara does not release an American pastor. Turkey said on Monday it had initiated a dispute complaint with the World Trade Organisation over the additional tariffs. On Friday two ratings agencies, Moody's and Standard & Poor's, further cut Turkey's sovereign rating into junk territory.

Total officially left South Pars deal - Iran

August 22, 2018

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005. The JCPOA restricts Iran's nuclear activities in exchange for the easing of sanctions on the Islamic republic.

Trump bashes Fed chief Powell in interview with Reuters

August 22, 2018

None of that has happened over the course of the Fed's existence, though, and that's why the President's comments have raised more than a few eyebrows. "We do our work in a strictly nonpolitical way, based on detailed analysis, which we put on the record transparently, and we don't take political considerations into account", Powell said in the interview.

US imposes fresh sanctions for Russian cyber-related activity

August 22, 2018

The software giant said it had thwarted the Russia-linked attempts last week, which it suggested showed Moscow was broadening its attacks in the buildup to November elections. FILE - Sigal P. Mandelker, the undersecretary for terrorism and financial intelligence at the U.S. Treasury, talks to journalists at a press briefing in Dubai, United Arab Emirates, July 12, 2018.

Fed criticism drives dollar to eight-week low against yen

August 22, 2018

Trump has, however, made reducing US trade deficits a priority, and the combination of rising interest rates and a strengthening dollar poses risks for export growth. Presidents have historically avoided commenting on Fed policies. Atlanta Fed President Raphael Bostic said on Monday he was maintaining his expectation for one more interest rate hike this year, as trade tensions and worldwide events add some downside risk to an otherwise strong USA outlook.

Jon Stewart comes to aid of goats found on subway tracks

August 21, 2018

Workers first spotted the black and white kids walking along the rails between the Fort Hamilton Parkway and New Utrecht stops in Borough Park just after 11 a.m. Nobody knows the old names of the goats or where they came from prior to their capture, but ABC7 NY reported that Farm Sanctuary has named the goats Billy and Willy .

Flushing contact lenses contributes to water pollution, study says

August 21, 2018

The study was presented by Arizona State University researchers at a conference in Boston on Sunday. Thankfully, unlike most types of environmental pollutions, this one has an incredibly simple solution: chuck contact lenses in the bin, don't flush them down the drain.

Gatwick resorts to whiteboards for flight information after IT crash

August 21, 2018

August is one of the busiest periods of the year for the airport in west Sussex , one of the main hubs for London and the south-east, as many families embark on summer holidays. A Gatwick spokesperson told Sky News that only "a handful " of people have ended up missing their flights. Photos posted on social media showed people crowding around the boards to find out the latest on their flights.

PepsiCo to buy Israel’s SodaStream for $3.2 billion

August 21, 2018

Monday's sale looks to inject another big tax payout to Israel following previous the sales of Israeli companies such as the mobile navigation app Waze, which was acquired by Google for about $1 billion U.S., and Mobileye, which produces technology for self-driving cars and was gobbled up by Intel a year ago for $15 billion US.

Tesla's Musk says stress, overwork taking heavy toll

August 20, 2018

This is part of our continuing coverage of Privatization Tweet-gate of the Tesla Corporation and its CEO Elon Musk , as Tesla faces two debt payments over $1 billion Dollars and begins talks for a leveraged equity buyout to take the company private .

Nvidia Q2 Data Center Sales Soar As AI Fuels Demand

August 19, 2018

The expected decline in revenue from crypto sales has also been reported by Nvidia's main competitor AMD. Shares of Nvidia closed down 0.35% Thursday after falling as much as 1.5% in regular trading ahead of the report . "Developers are jumping on the GPU-accelerated computing model that we pioneered for the boost they need", Huang said in a statement . With total revenues standing at $3.12 billion for the three months, cryptocurrency-specific products declined to approximately ...

Trump asks SEC to study ending quarterly earnings for public companies

August 19, 2018

We've been accused of that for a long time, this country. "We're looking at twice a year instead of four times a year". He said one executive suggested the change as a way to boost business , although he did not name the individual or the company .

Top U.S. trade official hopes for NAFTA 'breakthrough' in days

August 19, 2018

But some observers have refused to buy that argument. U.S. Trade Representative Robert Lighthizer gestures as he testifies before Senate Appropriations Commerce, Justice, Science, and Related Agencies Subcommittee hearing on the proposed budget estimates and justification for FY2019 for the Office of the United States Trade Representative, at the Dirksen Senate Office Building in Washington , U.S., July 26, 2018.

Italy bids farewell to Genoa bridge victims as toll rises

August 19, 2018

Their remains were blessed at the end of the Catholic service by a Genoa imam, who drew applause when he prayed for God to "protect Italy and all Italians". Conte has proclaimed Saturday a day of national mourning. "You apologise if you feel you are responsible", he said, adding that he would wait for official investigators to determine responsibility for the collapse.

SEC moving in on Tesla and Elon Musk with subpoenas

August 18, 2018

As per a report by Fox Business , citing a person close to the matter, the SEC subpoenaed Tesla this week, making the investigation official. Tesla sued Tripp in June for $1 million alleging he leaked information with the intent to sabotage Tesla and its CEO, Elon Musk .

Tesla shares plummet after Musk pours heart out to NYT

August 18, 2018

The paper said the electric vehicle company's swashbuckling boss choked up at times during the interview as he talked about working marathon hours trying to meet production deadlines. "There were times when I didn't leave the factory for three or four days - days when I didn't go outside", he said. Short selling is a method investors use to bet the price of a stock will go down.

USA stocks bounce as Turkish currency rises

August 18, 2018

The S&P 500 retailers index slid 1.59 percent despite data showing USA retail sales rose more than expected in July. The Nasdaq Composite Index climbed 51.19 points, or 0.65 percent, to 7,870.89. Results are in for 460 of S&P 500 companies. President Recep Tayyip Erdogan has ruled out that step. ENERGY: Benchmark U.S. crude jumped 1.1 percent to $67.97 per barrel in New York Mercantile Exchange.

Turkish court rejects USA pastor's appeal for release: Haberturk

August 18, 2018

Finance Minister Berat Albayrak assured worldwide investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting its banks were healthy and signalling it could ride out the dispute with the United States. officials say the accusations are false. "Investors also fret over Erdogan's influence over monetary policy". Andrew Brunson, an evangelical pastor from Black Mountain, N.C., shown in Izmir, Turkey, on July 25.

Trump attacks Turkey, vows to pay 'nothing' for U.S. pastor's release

August 18, 2018

Turkey, meanwhile, is frustrated by the refusal of the U.S.to extradite a Pennsylvania-based Muslim cleric accused by Turkish authorities of engineering a 2016 coup attempt. He called Brunson "a great patriot hostage". "Would the amount of Turkey's debts decrease?" Turkish officials said Erdogan spoke with French President Emmanuel Macron, during which the French president said Turkey's economic stability is important for France.

Google employees push back on censored China search engine

August 18, 2018

It also asked the company to let employees be a part of ethics reviews and publish ethical assessments of projects that are seen as controversial. "Currently we do not have the information required to make ethically-informed decisions about our work, our projects, and our employment", the letter said .

Turkish lira volatile as U.S. warns of further sanctions

August 17, 2018

The case of Andrew Brunson , an evangelical Christian missionary from North Carolina who has lived in Turkey for two decades, has become a flashpoint between Washington and Ankara and accelerated a widening currency crisis. Qatar has promised to make a Dollars 15 billion direct investment in Turkey, badly hit by a currency crisis amid a widening diplomatic standoff with the United States, officials said.

Turkey will respond if USA imposes more sanctions - trade minister

August 17, 2018

The United States and Turkey have exchanged tit-for-tat tariffs in an escalating attempt by Trump to induce Erdogan into giving up the pastor. The lira has lost almost 40 percent of its value against the dollar this year, driven by worries over Erdogan's growing influence on the economy and his refusal to raise interest rates despite high inflation.

United States threatens more sanctions on Turkey over detained pastor

August 17, 2018

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. Analysts say Turkey is also likely to seek a more dynamic economic relationship with China and Russian Federation, with whom ties have warmed considerably in recent years.

Turkey, Russia agree on partial lifting of visas

August 17, 2018

Earlier on Monday, Turkey's Central Bank announced a series of measures to help banks manage their liquidity, after the country's finance chief said the government had readied an "action plan" to ease market concerns that led to a slump in the value of Turkish currency.

China lodges WTO complaint over renewable energy tariffs

August 17, 2018

President TrumpDonald John TrumpDems make history, and other takeaways from Tuesday's primaries Pawlenty loses comeback bid in Minnesota Establishment-backed Vukmir wins Wisconsin GOP Senate primary MORE is claiming that steel tariffs imposed on China and other foreign nations will rescue the USA steel industry.

Turkey doubles tariffs on more USA imports as diplomatic row escalates

August 17, 2018

The Turkish currency began to recover after authorities this week took steps to help bank liquidity and limit swap transactions. USA stocks suffered their worst day in seven weeks after the move, and the lira gained 7 percent against the dollar.

Erdogan Says Turkey Will Boycott US Electronics

August 16, 2018

A string of robust earnings also boosted US shares. But the rise in USA shares did not carry through to Asia, with MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dipping 0.15 percent after bouncing 0.4 percent the previous day when the lira showed signs of stabilising.

US Condemns Turkey's New 'Regrettable' Tariffs

August 16, 2018

Turkey's exports to the United States a year ago amounted to $8.7 billion, making it Turkey's fifth-largest export market. Turkey has been rocked in recent days by a sharp decline in the value of its lira after US President Donald Trump tweeted last Friday that Washington was doubling aluminium and steel tariffs for Ankara .

Bitcoin's Price Falls Below $6K to Near 2018 Low

August 16, 2018

The price of cryptocurrency Bitcoin fell to below $6,000 (£4,700) on Tuesday as the cost of other cryptocurrencies declined by billions of dollars amid a new sell off. The next day, the Bitcoin dominance dropped to 47.2%, with BTC price also dropping. However, market analysts and experts such as Tom Lee, Mike Novogratz, and Peter Smith believe that the increase in Bitcoin dominance means that the market is getting ready for a turnaround.

Turkey court rejects new appeal to release detained United States pastor

August 16, 2018

US Vice President Mike Pence also renewed his threats to Turkey on Wednesday, warning that he and Trump would "stand firm" until Brunson is released. Doha has United States dollars 20 billion worth of investments in Turkey, official figures showed last month, and Ankara is now one of the top exporters to the emirate.

China, U.S. to hold lower-level trade talks in late August

August 16, 2018

A delegation of officials from China and the USA will meet later this month to discuss trade between the two countries as a round of additional tariffs from President TrumpDonald John TrumpGillibrand urges opposition to Kavanaugh: Fight for abortion rights "is now or never" Trump claims tariffs on foreign nations will rescue United States steel industry: report Bannon announces pro-Trump movie, operation team ahead of midterms: report MORE looms next week.

UK unemployment at lowest level since 1975

August 16, 2018

Employers will now be considering their next move following the sustained drop in the number of European Union nationals working in the United Kingdom over the last three quarters. However, there are few signs of overall wage increases - wage growth is slowing down to a nine-month low of 2.4% between April and June. Output per hour worked grew by 1.5 per cent year-on-year in the April-June period, the biggest increase since late 2016 after a 0.9 per cent rise in the first quarter of 2018.

Canopy Growth (CGC) Stock: Flying On C$5 Billion Investment

August 16, 2018

Just a couple of weeks back, one of the world's best-known breweries, Molson Coors, announced that its Canadian arm was partnering with Canadian cannabis producer, The Hydropothecary Corp to develop non-alcoholic, cannabis-laced drinks for the Canadian market.

White House denounces Turkey tariffs on USA products

August 16, 2018

White House National Security Adviser John Bolton met with Turkey's ambassador to the U.S., Serdar Kilic, in Washington yesterday to discuss the potential release of Brunson. Turkey invited the U.S.to a panel in the World Trade Organization (WTO) about doubling tariffs on steel and aluminum imports, Turkish Trade Minister Ruhsar Pekcan said on Wednesday.

Italian bridge collapses, death toll climbs to 35

August 16, 2018

Search operations are continuing and rescuers have spent the past few nights digging through mountains of crushed concrete. Matteo Salvini, Italy's interior minister, said it was hard to tell how many people were still unaccounted for simply because they were on holiday or "under the rubble".

Turkish lira rallies as Qatar makes $15 bil. loan pledge

August 16, 2018

Erdoğan has accused the USA of waging economic war against his country and has vowed not to back down. The minister promised to protect the lira on Tuesday, after it fell to a record low against the dollar this week, and said the U.S. "They are killing offshore lira liquidity to stop foreigners shorting the lira", he said. The lira rebounded some 8 per cent on Tuesday, helped by news of a planned conference call on Thursday in which the finance minister will seek to reassure worldwide ...

Consumer Inflation Eases To 4.17% In July

August 16, 2018

The Retail Prices Index (RPI) fell to 3.2pc, down from 3.4pc in June, and lower than the 3.5pc economists were expecting. Whilst there continues to be upward pressure from increasing oil costs, on both petrol and oil for heating, travel costs have been causing less pressure on inflation than in previous months.

A pastor from NC is confined in Turkey. Free Andrew Brunson

August 15, 2018

A spokesman for the Turkish president has said Washington must stop trying to influence Turkey's judiciary. Turkey's deepening currency run, which some analysts worry may soon morph into a debt repayments crisis, has a good chance of affecting other key markets around the world for one key reason: the country's political importance to the power struggle between the European Union and Russian Federation is even greater than its economic might.

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