Business

Business UAE hits out at Qatar's pledge to invest in Turkey
Author: 0 UAE hits out at Qatar's pledge to invest in Turkey

The currency has recovered from record lows earlier this week. US Charge d'Affaires Jeffrey Hovelier has visited US pastor Andrew Brunson who is being held under house arrest in Izmir. Elmira Bayrasli, who teaches global affairs with a focus on Turkey at Bard College, said that Erdogan is improving relations with Europe to increase confidence in the Turkish market.

Business Turkish lira resumes fall after Trump sanctions threat
Author: 0 Turkish lira resumes fall after Trump sanctions threat

Turkey has been hit by a currency crisis fuelled by a heated row with the United States . The lira , which earlier this week traded at well over seven to the dollar, had rebounded slightly over the last three days but on Friday it lost almost five percent of its value and was quoted at 6.1 against the dollar.

Business Turkey to boycott US-made electronic products: Erdogan
Author: 0 Turkey to boycott US-made electronic products: Erdogan

Meanwhile, Turkish officials said Qatar had pledged 15 billion (£11.7 billion) of direct investments for Turkey, in a bid to help the economy. On the Milan stock exchange, shares in motorway operator Atlantia were sharply lower after a bridge collapsed on the A10 Italian motorway which the company runs.

Business Qatar to invest $15b in Turkey's financial markets and banks
Author: 0 Qatar to invest $15b in Turkey's financial markets and banks

President Donald Trump increased U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively. 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.

Business Firefighter Dies Battling Ranch Fire In Lake County
Author: 0 Firefighter Dies Battling Ranch Fire In Lake County

Meanwhile, firefighters made significant progress trying to tamp down a wildfire that threatened homes and has been raging for days south of Los Angeles, officials said Saturday. On Thursday, Agriculture Secretary Sonny Perdue tweeted that he and Interior Secretary Ryan Zinke would be visiting the city of Redding Monday, where the Carr Fire is about half contained.

Business Tesla forms panel to gauge taking company private
Author: 0 Tesla forms panel to gauge taking company private

Citing two people familiar with the internal response to Musk's August 7 tweet , The Times said the Tesla CEO had sent that tweet "with little forethought". He said the Saudi sovereign fund has recently purchased nearly 5 percent of the Silicon Valley-based electric auto maker's stocks on the public markets, and that the fund's managing director "strongly expressed his support for funding a going private transaction for Tesla at this time ".

Business Turkey promises to calm market jitters over lira nosedive
Author: 0 Turkey promises to calm market jitters over lira nosedive

One such official is Mathew Palmer, who was expected to begin his new assignment soon as US Deputy Assistant Secretary of State in the Bureau of European Affairs who will be responsible, among other countries, for Turkey . "You dare to sacrifice 81-million Turkey for a priest who is linked to terror groups?" American pastor Andrew Brunson , if convicted, faces a jail term of 35 years.

Business United States tariff hike on Turkey fails to make economic sense
Author: 0 United States tariff hike on Turkey fails to make economic sense

Relations with Washington worsened further Friday when Trump tweeted that he had authorized a 20 percent duty on aluminium and 50 percent duty on steel. U.S. President Donald Trump introduced a round of sanctions on August 1, preventing the Turkish justice an interior ministries from doing business with U.S.

Business Giant Saudi fund emerges as backer of bid for Elon Musk's Tesla
Author: 0 Giant Saudi fund emerges as backer of bid for Elon Musk's Tesla

Following Musk's bold announcement last week that he would take the company private at $420 per share, Tesla's stock initially shot up 11 percent. Once those discussions are complete, Musk will bring a proposal to Tesla's board. He added that most capital for the deal would come from equity and it would not be "wise" to burden the company with added debt.

Business US Announces Latest China Tariffs
Author: 0 US Announces Latest China Tariffs

Beijing has released an additional list of $60 billion worth of U.S. products it would start taxing if the White House proceeds with the further escalation. trade deficit with that country. The bad news is the trade war fears in China are escalating. Companies are already adjusting to the new trade barriers, and shifting supply chains away from China.

Business Turkish lira tumbles to fresh low
Author: 0 Turkish lira tumbles to fresh low

The lira has always been falling on worries about Mr Erdogan's influence over monetary policy and worsening relations with the United States. The lira extended its losses to trade at 6.2 to the dollar, a loss of 11.5 percent on Friday.

Business China will make good on threat to match United States tariffs
Author: 0 China will make good on threat to match United States tariffs

In July, the USA imposed 25 percent tariffs on United States dollars 34 billion worth of Chinese imports, and Beijing retaliated with a similar move. Trump has boasted that trade wars are "easy to win" and warned he would hit virtually all Chinese imports if Beijing does not back down and take steps to reduce its $335bn USA trade deficit.

Business Tesla board confirms Elon Musk's buyout plans
Author: 0 Tesla board confirms Elon Musk's buyout plans

The board said only that Musk had "addressed the funding for this to occur". Tesla posted a new blog to its site , essentially a copy-and-paste of an email Musk sent to Tesla's employees regarding taking the company private again. oh boy. 'Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, ' Musk wrote .

Author: 0 Trump going ahead with taxes on $16B in Chinese imports

Washington has long criticized China's trade surplus with the United States and has demanded Beijing cut it. Earlier this month, China included for the first time liquefied natural gas (LNG) in its list of goods up for a potential 25-percent import tariff, should the United States impose additional tariffs on Chinese imports.

Business Elon Musk 'considering' taking Tesla private, tweet says
Author: 0 Elon Musk 'considering' taking Tesla private, tweet says

Elon Musk sent shares of Tesla into a frenzy on Tuesday, when the billionaire inventor wrote in an unconfirmed tweet that he's considering taking the auto company private, and has already secured the funding - language he should be sure to follow through on, according to Scott Galloway.

Business Trump Raises Proposed Chinese Tariffs to 25%
Author: 0 Trump Raises Proposed Chinese Tariffs to 25%

He is also betting that the US could wield more leverage because Beijing cannot match the tariffs proposed on $200 billion in Chinese goods. China has been quick to retaliate against most U.S. - United States dollars rises as White House ups ante in US-China trade spat. At a campaign rally in Florida Tuesday night, Mr. Trump said China's response targeting US farmers has been "not nice".

Business Apple (AAPL): $1 Trillion Is Just the Beginning
Author: 0 Apple (AAPL): $1 Trillion Is Just the Beginning

The share price jumped by more than 8 percent this week after Apple reported impressive quarterly earnings on Tuesday, driven largely by strong sales for high-price iPhones. Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30. Those changes are giving Apple a fundamentally different financial look, and investors haven't yet been forced to confront how much this altered Apple should be worth.

Business OH to have a sales-tax holiday
Author: 0 OH to have a sales-tax holiday

The Sales Tax Holiday overall is estimated to save Wisconsin families a total of $14.8 million from August 1 - 5, 2018. This year, the state of Louisiana did not offer a tax free weekend which created extra shoppers heading down to MS to make their purchases.

Business Apple hits historic $1-trillion stock market valuation
Author: 0 Apple hits historic $1-trillion stock market valuation

The peak reached Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1. The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-percent increase during the same nearly four decades.

Business Trump Breaks Tradition on GDP Figures
Author: 0 Trump Breaks Tradition on GDP Figures

That was a pickup from the first quarter's revised growth rate of 2.2 per cent, the New York Times reported . Compared to the second quarter a year ago, output grew 2.8 per cent. Economists in a Reuters poll earlier this week predicted that growth will slow notably from here. "And the year-over-year growth rate is just above the long term trend of 1.8 percent".

Business Facebook market value shrinks by $119 billion in biggest single day loss
Author: 0 Facebook market value shrinks by $119 billion in biggest single day loss

The results were among the first signs that the issues had pierced the company's image and would have a lasting effect on its moneymaking machine. Facebook's value was down by $111bn when Wall Street opened on Thursday, one of the most dramatic share price declines in history, after the social networking firm reported slowing growth in user numbers following a string of recent scandals .

Business Trump warns Turkey of sanctions if USA pastor not freed
Author: 0 Trump warns Turkey of sanctions if USA pastor not freed

The U.S. Senate passed a bill in June prohibiting Turkey from buying F-35 fighter jets because of Brunson's imprisonment and Turkey's purchase of Russia's S-400 air defense system. Turkey responded that Brunson's detention falls within the jurisdiction of its independent judiciary. Turkish-US relations are already strained over Washington's refusal to extradite Gulen as well as American backing for a Kurdish militia in Syria which Turkey says is linked to the PKK.

Business In letter to Mexico, Trump urges quick NAFTA renegotiation
Author: 0 In letter to Mexico, Trump urges quick NAFTA renegotiation

US trade representative Robert Lighthizer is hosting Mexican Economy Minister Ildefonso Guajardo as well as Jesus Seade, who will represent the incoming Lopez Obrador administration. If the wage floor was enacted immediately, the Canadian official said, four major Mexican auto plants would immediately go out of business. In the letter, Trump said that countries need to increase cooperation.

Business Hired!: Cop shaves homeless man to help him land job at McDonald's
Author: 0 Hired!: Cop shaves homeless man to help him land job at McDonald's

His boss, Police Chief Michael DeLeo, recognizing that these acts of kindness are indeed worth celebrating, disagreed with Carlson's modest statement. Phil said the manager confirmed he had the job as soon as his identification paperwork was in order. Rather, that sort of thing happens all the time and it was just pure coincidence that this particular instance was caught on film.

Business European Union 'ready' to discuss reduction of 'all tariffs' with US
Author: 0 European Union 'ready' to discuss reduction of 'all tariffs' with US

John Kasich (R) said Wednesday that President TrumpDonald John Trump2 women win Georgia Dem runoffs, extending streak for female candidates Giuliani on Trump-Cohen audio: "I've dealt with much worse tapes than this" Roseanne to sit down with Hannity in first television interview since ABC canceled show MORE is resorting to "farm welfare" when what US farmers really want the administration to stop imposing tariffs .

Business US, EU agree to resolve US tariffs on steel, aluminum imports
Author: 0 US, EU agree to resolve US tariffs on steel, aluminum imports

Trump recently placed tariffs on $34 billion in Chinese goods, which prompted retaliatory tariffs on US agricultural products - everything from soybeans to fresh fruit and meat. "We just want it to be a level playing field for our farmers, for our manufacturers, for everybody", Trump said, suggesting the European Union could also be a "big beneficiary" of a revised trading agreement.

Business North Korea dismantling key missile-testing site, images show
Author: 0 North Korea dismantling key missile-testing site, images show

US President Donald Trump welcomed Tuesday reports that North Korea has started dismantling facilities at its main satellite launch station, which is seen as a testing ground for intercontinental ballistic missiles. Joel Wit, founder of 38 North and former State Department official, said numerous facilities that are being razed are relatively new and have only been in place within the last two years.

Author: 0 Trump prepares $12 BILLION bailout fund for farmers hurt by tariffs

The new plan at the Agriculture Department would advance emergency funds for these farmers but likely not provide a long-term solution if the trade disputes with China and other countries persist. "This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again". This year's showcase comes during a contentious period in USA trade relations, after the Trump administration targeted China and some United States allies with steep ...

Business In Rare Move for a President, Trump Criticizes Fed
Author: 0 In Rare Move for a President, Trump Criticizes Fed

Trump nominated current Fed Chair Powell, who had served as a governor on the board of the USA central bank, to serve at its helm after Janet Yellen's retirement in February. "I want them to do well", Trump said. "And I don't think there's anybody that really can say they're making a lot of money at these prices, if any". "But it was very unfair".

Author: 0 Ritz Bits pulled from shelves due to possible salmonella contamination

Several varieties of Ritz cracker products have been recalled due to salmonella concerns. Salmonella can cause serious and sometimes fatal infections in young children, frail or elderly people and others with weakened immune systems. Mondelez International Inc.is recalling some Ritz crackers made with an ingredient that could have salmonella bacteria. Consumers who have these products should not eat them, and should discard them.

Author: 0 Trump Says He's 'Not Thrilled' About US Interest Rate Hikes

Trump said he was only expressing his opinion as a private citizen by criticizing the move to raise interest rates. "Debt coming due & we are raising rates - Really?" he tweeted . Trump's rebuke broke with more than two decades of White House tradition of avoiding comments on monetary policy out of respect for the independence of the USA central bank.

Business Trump slams European Union over $5.1B fine against Google
Author: 0 Trump slams European Union over $5.1B fine against Google

Adding to that, Google also specifically banned these smartphone makers from using rival versions of Android on their devices. There are actually a few different angles to the Commission's complaint , but to boil it down, it essentially claimed that Google used Android to cement its search dominance.

Business Tory MP urges vote of no confidence in Theresa May over Brexit
Author: 0 Tory MP urges vote of no confidence in Theresa May over Brexit

Ms Soubry said she did not believe Mrs May was in charge any more. The measure infuriated pro-EU lawmakers and practically killed off the EU's proposed solution for avoiding a hard border on the island of Ireland. 'Some of you will agree with my decision and some of you will disagree - I am well aware of that. Laughter erupted as Labour MP Emma Hardy (Hull West and Hessle) was heard to shout: "Panicking".

Business High wholesale vegetable prices leave common man burdened
Author: 0 High wholesale vegetable prices leave common man burdened

The ONS's preferred measure of inflation which includes housing costs, CPIH, also remained steady, at an annual rate of 2.3 per cent. Fed Chairman Jerome Powell gave an upbeat assessment of the outlook for the USA economy on Tuesday and downplayed the impact of uncertainty over US trade policy on the outlook for additional rate hikes.

Business May wins parliament vote on EU trade laws
Author: 0 May wins parliament vote on EU trade laws

But the biggest domestic problems for May lie in Parliament, where her Chequers Brexit proposal has enraged her hard-liners, led by Jacob Rees-Mogg, a right-wing Conservative lawmaker. On Friday, she will give a speech in Belfast about the government's Brexit White Paper and how it addresses the Irish border issue. Mr Hollingbery, moving the Government's amendments to the Bill, said: "I recognise that members are seeking reassurance that the government will be transparent about the content ...

Business Tesla 'whistleblower' files tip with the SEC (TSLA)
Author: 0 Tesla 'whistleblower' files tip with the SEC (TSLA)

Those tariffs raised the price on Tesla Model S to USD142,000 from about USD115,000, according to 24-7 Wall Street. The Roadster almost brought Tesla to bankruptcy in 2008, but Musk has said the company closed a financing round that kept it afloat on December 24.

Business Murdoch’s Fox raises bid for Sky to $32.5 billion
Author: 0 Murdoch’s Fox raises bid for Sky to $32.5 billion

Comcast, which made a $65 billion all-cash offer for the Fox assets last month only for Disney to raise its bid, is talking to private equity firms, including Apollo Global Management LLC ( APO.N ) and Blackstone Group LP ( BX.N ), to gauge interest about acquiring the RSNs, the sources said.

Business USA adds 213,000 jobs in June, unemployment rate jumps…
Author: 0 USA adds 213,000 jobs in June, unemployment rate jumps…

The news in the household survey was mostly positive. The Bureau of Labor Statistics released a report Friday, showing 36,000 manufacturing jobs were created last month. "Combined with additional jobs and steady hours, payrolls are up by 5 percent since June 2017". This may seem freakish on a number of levels - the person might have stopped looking because she feels her search is hopeless, or because he no longer wants a job.

Author: 0 Canada adds 31,800 jobs in June, led by jump in part-time positions

The job growth shows the labour market shrugging off worries about a slowdown triggered by trade fights or rising borrowing costs. Along with the 213,000 jobs added in June, the jobs numbers for April and May were also revised to include 37,000 additional new hires across those months, according to data released Friday by the Bureau of Labor Statistics.

Business What Is OPEC? Trump Attacks Oil Price 'Monopoly'
Author: 0 What Is OPEC? Trump Attacks Oil Price 'Monopoly'

If the Saudis are indeed prepared to cave to Trump, it creates an existential threat to OPEC which may see Iran and other members quit immediately, if Riyadh has made a unilateral decision to pump more. He said Sunday that OPEC should put another 2 million barrels on the market to make up for the coming shortfall in Iranian crude sales due to sanctions.

Business Look at services when griping about trade deficit — European Union to Trump
Author: 0 Look at services when griping about trade deficit — European Union to Trump

News website Axios last week reported that the Republican president wants to withdraw from the WTO, drawing a prompt denial on Friday from Treasury Secretary Steve Mnuchin. As per the Financial Times' report, the European Commission has sent a letter to the US Department of Commerce stating that the EU can slap $300 Billion of US products with taxes if Trump pursues through on his intimidations to put huge tariffs on European automobiles being imported to the US.

Business Europe rejects alliance with China to fight Trump on trade
Author: 0 Europe rejects alliance with China to fight Trump on trade

US President Donald Trump has threatened to escalate the trade conflict with tariffs on as much as a total of $450 billion in Chinese goods if Beijing retaliates, with the row roiling financial markets including stocks, currencies and global trade of commodities from soy beans to coal.

Business China to impose $34bn tariffs before the U.S. as trade dispute escalates
Author: 0 China to impose $34bn tariffs before the U.S. as trade dispute escalates

Noting reports that the United States could add a tax on essentially every product shipped from China, Gao said "using the tariff stick to bully on trade runs against the trend of the times". The industry source said Beijing had been unable to address the Trump administration's concerns on Chinese trade policies in at least five key area, including forced technology transfers, Chinese industrial overcapacity, government subsidies, SOE reform, and Beijing's restrictions in the cloud computing ...

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