Tuesday August 21-st, 2018

Tesla shares tumble after Musk interview sparks fresh fears Tesla shares tumble after Musk interview sparks fresh fears

His tweet about taking Tesla private has ignited a firestorm that is still growing as the Securities and Exchange Commision has gotten involved, and investors are uncertain about the future of the deal and any potential legal action the company m...

President Trump asks SEC to study abolishing quarterly earnings reports President Trump asks SEC to study abolishing quarterly earnings reports

Trump said he directed the SEC to look into a change in its requirements. Trump said on Twitter that meetings with business leaders had convinced him that the change would give companies more flexibility and reduce costs. "I'd like to see twice...

Mnuchin Says Turkey Faces More Sanctions If Pastor Not Released Mnuchin Says Turkey Faces More Sanctions If Pastor Not Released

Treasury Secretary Steven Mnuchin suggested during a cabinet meeting on Thursday that the next spiral of tit-for-tat sanctions was coming soon, deepening a spat that has rattled financial markets , if Andrew Brunson is not released by Turkey.

Google employees criticise 'censored China search engine' Google employees criticise 'censored China search engine'

China is home to about 1.4 billion people and one of the potentially biggest markets for Google (or any other company). It is also the latest example of how Google's outspoken workforce has agitated for changes to strategy. Company executives have ...

Elon Musk Clarifies He Absolutely Wasn't Stoned When He Sent '420' Tweet Elon Musk Clarifies He Absolutely Wasn't Stoned When He Sent '420' Tweet

It's not merely that claims to be working insane hours: 120 hours per week recently. Musk has also lashed out at both the media and analysts from large Wall Street banks in recent months, calling questions from analysts " boring, bonehead questio...

Turkey says will respond if United States imposes more sanctions Turkey says will respond if United States imposes more sanctions

Earlier this month, Washington imposed tough economic sanctions on Turkey's justice minister and interior minister for not releasing Andrew Brunson, an evangelical Presbyterian pastor from North Carolina. In U.S. markets, the Dow Jones Industrial...

China says U.S. solar tariffs violate trade rules, lodges WTO complaint China says U.S. solar tariffs violate trade rules, lodges WTO complaint

President Donald Trump over trade and technology. It said a formal complaint was filed Tuesday with the WTO in Geneva. The Commerce Ministry said Wednesday the 30 percent tariffs announced in January violate WTO rules and improperly help US produce...

Bitcoin dominance reaches 50% for the first time in 2018 Bitcoin dominance reaches 50% for the first time in 2018

On Dec. 19th, the average price of BTC was $17,605.81 across exchanges - an 65 percent higher price than the cryptocurrency's value today, according to the CoinDesk Bitcoin Price Index. The next day, the Bitcoin dominance dropped to 47.2%, wi...

Turkey's currency strengthens despite Mike Pence warning Turkey's currency strengthens despite Mike Pence warning

Turkish President Recep Tayyip Erdogan's call to boycott US products, specifically the smartphones made by California tech giant Apple , was met with several videos online that see a few especially patriotic Turks destroying their mobile devices...

China’s Vice Commerce Minister to visit USA for trade talks China’s Vice Commerce Minister to visit USA for trade talks

Trade Representative (USTR). China's commerce ministry reiteratedthat Beijing opposed trade protectionism and would not accept any unilateral trade restrictions. Trade Representative was not involved and the talks will occur between lower-level o...

Lira rallies as Turkey pledges spending cuts to avoid International Monetary Fund bailout Lira rallies as Turkey pledges spending cuts to avoid International Monetary Fund bailout

Tariffs on American cars were doubled to 120% while the tariff on alcoholic drinks rose to 140%. "When the dollar turned in the second quarter we had a really weak EM market", Said Haidar, founder and chief investment officer, at NY hedge fund H...

Turkey unlikely to give up on U.S. despite unprecedented row Turkey unlikely to give up on U.S. despite unprecedented row

According to the Hurriyet Daily, a significant number of importers have begun to withdraw their short and long-term orders after Turkish President Recep Tayyip Erdogan's appeal to boycott US electronic products on Tuesday. She said: "the United S...

Turkey increases tariffs on some USA imports Turkey increases tariffs on some USA imports

Turkish President Recep Tayyip Erdogan said Tuesday that his country will ban United States electronics after a diplomatic feud pushed it into a currency crisis . The White House said on Tuesday President Donald Trump was frustrated that Turke...

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

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. In a joint statement issued on Tuesday, the industrialists' group TUSIAD a...

Turkey will boycott United States electronics like the iPhone, according to its president Turkey will boycott United States electronics like the iPhone, according to its president

The lira has been pummelled this year by worries over Erdogan's influence over the economy and worsening relations with the US. While Asian emerging markets are relatively isolated from what's happening in Turkey , foreign investors that have bond...

India is considering 50% Iran oil cut to win US waiver India is considering 50% Iran oil cut to win US waiver

On Friday, Bloomberg also reported that the Islamic Republic's state-run National Iranian Oil Company was planing to reduce official prices for September sales to Asia to their lowest level in 14 years. The decision came after the United States Pre...

How serious is Turkey's lira crisis and what are the implications? How serious is Turkey's lira crisis and what are the implications?

The lira has lost 40 percent against the dollar this year, largely over worries about Turkish President Recep Tayyip Erdogan's influence over the economy, his repeated calls for lower interest rates, and worsening ties with the United States.

Transgender Democratic candidate makes history in state’s gubernatorial primary Transgender Democratic candidate makes history in state’s gubernatorial primary

Vermont Democratic candidate Christine Hallquist embraces supporters after claiming victory during her election night party. She enjoys name recognition as the former David Hallquist, the onetime chief executive of the Vermont Electric Cooperative ...

Tesla board forms committee to consider going private Tesla board forms committee to consider going private

That's according to the New York Times , which, citing people familiar with the chain of events that unfolded last week, reported Musk's tweets weren't given much thought ahead of time and were not vetted with the company's board . Goldman Sa...

Turkish Lira Rebounds as Locals Sell Dollars Amid Thin Liquidity Turkish Lira Rebounds as Locals Sell Dollars Amid Thin Liquidity

Brent crude lost 0.3 per cent to US$72.61 a barrel in London. Sergey Lavrov, speaking after talks Tuesday with his Turkish counterpart, Mevlut Cavusoglu, said the wide use of sanctions reflect Washington's desire to win domination and secure un...

Largest fire in California's history continues to spread north Largest fire in California's history continues to spread north

Firefighters from all over the country have been helping California battle a series of deadly and devastating wildfires in recent weeks that have spread through drought-parched forests and rural communities. As it has grown to cover more than 202,0...

Rupee breaches 70/$ as investors turn jittery over Turkish currency turmoil Rupee breaches 70/$ as investors turn jittery over Turkish currency turmoil

The rupee crashed to a fresh lifetime low of 70.09 against the dollar as investors were nervous that the plunge in the lira could prompt capital outflows from other emerging economies that run a hefty current account deficit and rely on foreign cap...

Markets rattled as Turkish lira dives to record lows Markets rattled as Turkish lira dives to record lows

Concerns about contagion were recently reinforced by a report in the Financial Times saying that the European Central Bank is concerned about the exposure of eurozone banks to Turkey . The current crisis was sparked by Ankara's refusal to release ...

Iran's supreme leader bans 'any talks' after Trump offer Iran's supreme leader bans 'any talks' after Trump offer

Trump has suggested he would be willing to hold talks with Iranian leaders, but that would be impossible without permission from Khamenei, who has the final say on all major policies. Many European countries such as the United Kingdom, which still ...

Turkey pledges lira action to calm markets

Market depth and price formations will be monitored by the Central Bank closely, which will take all necessary measures to protect financial stability, if needed, said the bank. The Turkish equity market was less than 2 percent of the size of the U...

How major US stock indexes fared Thursday How major US stock indexes fared Thursday

The Nasdaq added 27.09 points, or 0.3 percent . At 9:50 a.m. EDT the Dow Jones Industrial Average was down 14.63 points, or 0.06 percent, at 25,569.12, the S&P 500 was unchanged at 2,857.70 and the Nasdaq Composite was up 11.39 points, or ...

U.S. jury orders Monsanto to pay $289m in Roundup trial U.S. jury orders Monsanto to pay $289m in Roundup trial

The money would be released only after Monsanto's appeal is heard. He is among more than 5,000 similar plaintiffs across the US. The company has denied ties between glyphosate, the active ingredient in Roundup , and cancer. Following an eight-we...

Seattle plane crash: Family of man who crashed stolen plane issue statement Seattle plane crash: Family of man who crashed stolen plane issue statement

Pierce County Sheriff Paul Pastor said the man "did something foolish and may well have paid with his life". While in the air, Russell joked for almost 20 minutes with the air traffic control agent, but admitted he had "a few screws loose" and ...

Dutch Ryanair pilots plan Friday strike as carrier takes union to court Dutch Ryanair pilots plan Friday strike as carrier takes union to court

At Charleroi Airport, Belgium's second largest and a major Ryanair hub in the region, striking staff gathered in the departure hall and held up banners reading "Ryanair must change- Respect us". The Irish airline, which a year ago carried its one b...

Trump doubles tariffs on Turkey, stoking jitters Trump doubles tariffs on Turkey, stoking jitters

Trump tweeted that the latest tariff decision came as Turkey's currency , the lira , "slides rapidly downward against our very strong Dollar". But Erdogan vowed there would be no easing of the law in Brunson's case, saying: "We have not made...

Trump doubles tariffs on Turkish metals

It is a Coen brothers-level farce the people of Turkey and every other emerging market that's been caught up in what's now a broader currency sell-off are not laughing at. So the sudden fall raises the possibility of corporate bankruptcies or bank ...

USA to Increase Tariffs on Turkish Aluminum, Steel USA to Increase Tariffs on Turkish Aluminum, Steel

Turkey is now under a 25 percent tariff on imported steel and 10 percent on aluminum, which went into effect in March. "Aluminum will now be 20% and Steel 50%". The lira's fall has been made worse by President Recep Tayyip Erdogan's statements ...

The US must make Putin pay for his nerve agent attack The US must make Putin pay for his nerve agent attack

Kremlin spokesman Dmitry Peskov called the new sanctions "categorically unacceptable" and "illegal". The full U.S. Congress will not be back in Washington until September, and even then, congressional aides said they did not expect the measur...

Ontario Premier Doug Ford announces 'Buck-a-Beer' plan Ontario Premier Doug Ford announces 'Buck-a-Beer' plan

The lower price floor, which is limited to beer with an alcohol volume of less than 5.6 per cent, will take effect on August 27. The minimum wage hike to $14 per hour has also played a role in pushing up beer prices, as has increased prices on th...

USA to impose sanctions on Russian Federation over nerve attack in UK USA to impose sanctions on Russian Federation over nerve attack in UK

State Department officials told reporters on a call that the economic impact of the sanctions would be in the range of "hundreds of millions of dollars" and would target electronic devices and engines, for example. Moscow has been trying to improve ...

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