Business

Business Turkey double tariffs on USA imports such as cars, alcohol and tobacco
Author: 0 Turkey double tariffs on USA imports such as cars, alcohol and tobacco

Census Bureau. Following the meeting, U.S. officials have given no indication that the United States has been prepared to give ground in the standoff between the two countries' leaders. The chargé d'affaires at the USA embassy in Turkey, Jeffrey Hovenier, visited Brunson on Tuesday and called for his case - and those of others detained in Turkey - to be resolved "without delay" and in a "fair and transparent manner".

Business Taiwanese firms in Turkey face risk as local currency crashes
Author: 0 Taiwanese firms in Turkey face risk as local currency crashes

Erdogan also said his people should buy Turkish smartphones, naming the Turkish electronics and consumer appliance company Vestel and its line of Venus smartphones. "Whatever we buy from overseas we are going to produce here in better quality and export it". While the lira ended a dramatic slide that had seen fresh record lows recorded on a daily basis, several industry associations made a rare show of dissent.

Business Polls close in Vermont for slate of primaries
Author: 0 Polls close in Vermont for slate of primaries

In Tuesday's Democratic balloting, Sanders defeated little-known candidate Folasade Adeluola, who said she believes Vermont needs a full-time senator. If Hallquist defeats the incumbent Scott in November, she will become the first transgender governor in US history. That net 38 point drop is the biggest quarterly shift since Morning Consult began polling the subject in May 2016 .

Business The Single Biggest Threat To Global Oil Demand Growth
Author: 0 The Single Biggest Threat To Global Oil Demand Growth

Oil prices moved sharply lower on Monday after data suggested inventories at the USA crude delivery hub rose in the latest week, compounding worries that troubled emerging markets and trade tensions will dent the outlook for fuel demand. The United States has started implementing new sanctions against Iran , which from November will also target the country's petroleum sector. This was said to be due to weaker-than-expected oil demand data from Latin America and the Middle East in the ...

Business Economists Fear Turkish Financial Crisis Could Spread
Author: 0 Economists Fear Turkish Financial Crisis Could Spread

Why is there so much fear of contagion? Here's what Americans should know. What's happening to Turkey's currency? The lira's worst day was Friday , when US President Donald Trump approved the doubling of tariffs on Turkish steel and aluminium, following Turkey's refusal to free a US pastor who has been in detention there for almost two years.

Business Vienna is the world's most liveable city
Author: 0 Vienna is the world's most liveable city

The global league table ranks 140 cities on a range of factors, including political and social stability, crime, education and access to healthcare. Vienna was ranked top of the pile, ahead of Melbourne , Osaka, Calgary and Sydney , while Vancouver, Toronto and Tokyo (tied), Copenhagen and Adelaide completed the top 10.

Business Authorities say firefighter killed battling Northern California
Author: 0 Authorities say firefighter killed battling Northern California

Authorities say the man died Monday night at a hospital after he was injured at the site of the Mendocino Complex fire north of San Francisco. "We are extremely heartbroken for this loss", Mendocino Complex incident commander Sean Kavanaugh said, adding that officials will release more information as it becomes available.

Business Indian Rupee hits fresh record low of 69.61 per United States dollars
Author: 0 Indian Rupee hits fresh record low of 69.61 per United States dollars

The rupee was last at 69.99 to the dollar, compared with its previous close of 69.95 per dollar. Lira is the national currency of Turkey, and a crisis has spooked investors, economists and policy makers, leaving them on a shaky ground. Panic and capitulation overshadowed trading mood as traders and speculators saw no signs that monetary authorities would step into the foreign exchange market to support the domestic unit.

Business Markets rattled as Turkish lira dives to record lows
Author: 0 Markets rattled as Turkish lira dives to record lows

U.S. President Donald Trump announced a punitive doubling of tariff rates on steel and aluminum products from Turkey to 50 percent and 20 percent respectively. The lira has tumbled as investors question whether President Recep Tayyip Erdogan's government can cope with problems including a diplomatic spat with Washington that has resulted in higher USA tariffs.

Business British pound falls lower against dollar, euro
Author: 0 British pound falls lower against dollar, euro

BST (7.00 a.m. ET). After falling heavily during European trading yesterday, the Pound New Zealand Dollar (GBP/NZD) exchange rate recouped all of its losses as the Reserve Bank of New Zealand (RBNZ) hinted that the next rate hike may be further off than previously thought.

Business Elon Musk: Saudi Fund Asked About Taking Tesla Private
Author: 0 Elon Musk: Saudi Fund Asked About Taking Tesla Private

Elon Musk has outlined his plan to take Tesla private and said he discussed financing the deal with backing from Saudi Arabia. "As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla , all of whom are shareholders", Musk wrote, according to Forbes.

Author: 0 Euro nears 13-month low after Turkish lira slides

The lira weakened past 7.23 per dollar amid thin volume before paring losses after the nation's Banking Regulation and Supervision Agency stepped in to limit swap transactions on the battered currency. The United States gave Turkey a deadline to release an American pastor being tried by a Turkish court or face sanctions, President Tayyip Erdogan said on Sunday as he threatened once again to seek out new allies.

Business Seattle airport employee steals plane, takes off and crash lands
Author: 0 Seattle airport employee steals plane, takes off and crash lands

At another point he apologized to everyone who cared about him and described himself as, "just a broken guy, got a few screws loose I guess - never really knew it until now". They called a second alarm, Adams said, to get more crews out to the island. Ms Morse's mother, who lives closer to the area where the plane went down, said her whole house shook.

Business Elon Musk sued over proposal to take Tesla private
Author: 0 Elon Musk sued over proposal to take Tesla private

The decision to go private is mostly, based, Musk says, on the fact that his other company, SpaceX, is privately held and is operated more efficiently than Tesla, as it isn't subject to the ups and downs of the stock market. Tesla's share price edged higher as markets closed late last night, increasing 0.86 per cent to $355.49. "It is clear that Defendant Musk Tweeted materially false and misleading information regarding the Going Private Transaction to exact personal revenge and ...

Business RPT-Turkey is a 'target of economic war', Erdogan says
Author: 0 RPT-Turkey is a 'target of economic war', Erdogan says

Investors have become increasingly concerned with the faltering Turkish economy, its central bank's willingness to respond to the downturn and the impact it could have on global financial markets, according to multiple reports . In the wake of Trump's decision to impose higher tariffs , the three major US indexes ended Friday with losses of around 0.7 percent, with the Dow Jones Industrial Average falling almost 200 points.

Business House of Fraser chain goes into administration
Author: 0 House of Fraser chain goes into administration

Opened in Liverpool 1856, Lewis's was a much loved department store and its flagship home store served as the location of the world's first Christmas grotto in 1879, entitled "Christmas Fairyland". The acquisition by Sports Direct could preserve more stores than House of Fraser was able to commit to. HoF chief executive Alex Williamson said: "We are hopeful that the current negotiations will shortly be concluded".

Business Markets Now: Dow Drops 105 Points as Turkey Finally Matters
Author: 0 Markets Now: Dow Drops 105 Points as Turkey Finally Matters

President Donald Trump doubled tariffs on aluminum and steel imports from Turkey, deepening the currency's losses and raising concerns that the crisis could weigh on other economies. The Nasdaq gained 0.3 per cent for the week after strong gains in some technology shares . Shares of trade-sensitive companies also declined, including Boeing , 3M and Caterpillar , which were all down at least 1.4 percent.

Business FBI seeks motive after US airline worker stole plane and crashed it
Author: 0 FBI seeks motive after US airline worker stole plane and crashed it

Two F-15C aircraft were scrambled from Portland and pursued the plane but authorities say they didn't fire on it before it crashed on tiny Ketron Island , southwest of Tacoma, Washington. The plane was "highly fragmented and the wings are off", she said. At one point, Russell told a controller he had played a lot of video games. "I really think they could have handled it better".

Business Investors really aren't buying Musk's plan for Tesla
Author: 0 Investors really aren't buying Musk's plan for Tesla

Directors plan to meet financial advisers next week and are likely to tell chairman Elon Musk to recuse himself while they mull his proposal, CNBC reported Thursday , citing unidentified people familiar with the matter. $ 10.9 billion in debt and its bonds rated in speculative territory by worldwide agencies. Elon Musk has a few things on his side such as excessive dry powder in private equity, a sizable personal stake in Tesla, and a relatively low interest rate environment.

Business 'Stolen' plane closes Seattle airport before crashing into sea
Author: 0 'Stolen' plane closes Seattle airport before crashing into sea

Two F-15 fighter jets scrambled from Portland "minutes later" to intercept it , according to Pierce County Sheriff's Office. The site on Ketron Island in Washington state where an Horizon Air turboprop plane crashed after it was stolen from Sea-Tac International Airport is seen from the air, Saturday, Aug.

Business China has many means to counteract USA tariffs
Author: 0 China has many means to counteract USA tariffs

It further said China conducts and backs hacking efforts targeting US companies that seek to steal business secrets. The yuan has weakened nearly 5% so far this year and hit a 14-month low last week, primarily driven by new tariff threats from the U.

Business Monsanto fined $289m in first Roundup cancer trial outcome
Author: 0 Monsanto fined $289m in first Roundup cancer trial outcome

The 46-year-old who was awarded the damages, said he developed a deadly form of non-Hodgkin's lymphoma after spending years spraying large amounts of Monsanto's Roundup and other glyphosate herbicide brands on school grounds. The jury ordered the agricultural multi-national to pay $250 million in punitive damages together with other costs that brought the total figure to nearly $290 million.

Business Bitcoin Cash (CRYPTO:BCH) Price Tops $592.28
Author: 0 Bitcoin Cash (CRYPTO:BCH) Price Tops $592.28

During the last week, Bubble has traded down 6.7% against the dollar. One X2 coin can now be bought for approximately $0.0002 or 0.00000003 BTC on major exchanges. 0x (ZRX) traded up 1.7% against the dollar and now trades at $0.96 or 0.00013773 BTC. Although bitcoin went through a 7.5 decline, Polymath, Bitcoin Private, Pundi X, VeChain, Ark, Aelf, Decentraland, ICON, WanChain, Ontology, and WaltonChain, tokens with active developer communities that have shown strong movement during the ...

Business Bitcoin ETFs Will See SEC’s Final Decision Within the Next 2 Months
Author: 0 Bitcoin ETFs Will See SEC’s Final Decision Within the Next 2 Months

Fortunately, bitcoin found this as its new support level as it steadily climbed back to settle at around $6,500 where it is now dancing around. Gurbacs also firmly upholds his business position in the face of the recently rejected Winklevoss Bitcoin ETF , asserting that his enterprise, VanEck , intends to provide an insured product, with a fund that would cover the Bitcoin ( BTC ) in case of "theft and damage and loss of all kinds".

Author: 0 Relations with Turkey are not good!

The currency is down 40 percent just this year, shaking worldwide investors' confidence in the country. Turkish President Recep Tayyip Erdogan addressed supporters Friday in the provincial city of Bayburt. A favourable exchange rate though can't have harmed the situation: on Friday, the United States dollar would buy nearly six Turkish lira; at the end of January, it would have got you less than four.

Business Ryanair pilot strike affects 14,000 passengers on Spanish flights
Author: 0 Ryanair pilot strike affects 14,000 passengers on Spanish flights

Ingolf Schumacher, pay negotiator at Germany's Vereinigung Cockpit (VC) union, said pilots had to be prepared for "a very long battle" and that it could take months to push through change at Europe's largest low-priced carrier. Staff claim this creates huge insecurity for them, blocking their access to state benefits in their country. Despite the walkouts, 85 per cent of its scheduled flights, more than 2,000, will operate as normal, Ryanair said .

Business New York City Uber cap to be decided today
Author: 0 New York City Uber cap to be decided today

The package of bills passed also allows city officials to create a minimum pay rate for drivers, The New York Times reported . "The city's 12-month pause on new vehicle licenses will threaten one of the few reliable transportation options while doing nothing to fix the subways or ease congestion", Uber said in a statement .

Business China to slap additional tariffs on $16 billion of United States goods
Author: 0 China to slap additional tariffs on $16 billion of United States goods

The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of US goods including coal, grease, Vaseline, asphalt and plastic products, and recyclables. China's payback presents its own challenges. President Trump had repeatedly expressed discontent over the USA trade deficit with China, accusing the country of unfair trade practices, intellectual property theft, currency manipulation, and of providing state aid to Chinese firms.

Author: 0 China to slap additional tariffs on $16 billion of U.S. goods

But it was 11 percent higher than in the same month a year ago. After a strong start to the year, growth in the world's second-largest economy cooled slightly in the second quarter, partly hit by the government's years-long efforts to tackle debt risks.

Business Oil prices steady on falling US crude stocks and Iran sanctions
Author: 0 Oil prices steady on falling US crude stocks and Iran sanctions

Brent futures rose 90 cents, or more than 1 percent, to $74.65 a barrel by 1:38 p.m. EDT (1738 GMT), after hitting a session high of $74.90. The U.S. "The market continues to price in geopolitical risk from the reimposition of sanctions by the USA on Iran", said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut.

Business Prince Alwaleed acquires 2.3% stake in Snapchat
Author: 0 Prince Alwaleed acquires 2.3% stake in Snapchat

The company behind Snapchat posted revenue of $262.3 million in the period, also topping the estimate of $247.2 million. This appeared to confuse the market initially, who rallied behind Snap's share price initially in after-hours trading, but it seems likely this will only be a temporary reprieve before the company gets purchased by AOL, like all eventually defunct web brands.

Business China threatens tariffs on $60 billion in USA goods
Author: 0 China threatens tariffs on $60 billion in USA goods

The heated dispute between the world's two biggest economies has roiled financial markets including stocks, currencies and the global trade of commodities from soybeans to coal in recent months. Trump told an audience of diehard supporters on Saturday that playing hardball on trade is "my thing". Trump's tweets appear to be the latest volley in a budding trade war between the United States and China.

Business What If Tesla Goes Private?
Author: 0 What If Tesla Goes Private?

Despite its challenges, Tesla has remained a favorite among many investors, partly due to their faith in Musk, who made his initial fortune as a co-founder of PayPal and also is the CEO of a trail-blazing aerospace company, SpaceX , that's already private.

Business Ontario government to announce buck-a-beer plan
Author: 0 Ontario government to announce buck-a-beer plan

Asked whether he was concerned that cheaper beer might contribute to substance abuse and other harms, Ford said he trusts Ontario consumers to make smart choices when it comes to alcohol, regardless of the lower price. 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.

Business [BREAKING] Dead baby found aboard plane at LaGuardia airport
Author: 0 [BREAKING] Dead baby found aboard plane at LaGuardia airport

WNBC New York reported that a cleaning crew found the five- or six-month-old foetus in the toilet of one of the aeroplane's bathrooms. Officials at American Airlines said they were co-operating with the authorities. American Airlines said it was assisting police with their investigation. The airline later said in a statement: "As we continue to learn more about this tragic and sensitive situation, we are actively cooperating with law enforcement in its investigation".

Business Elon Musk tweets he may take Tesla private
Author: 0 Elon Musk tweets he may take Tesla private

That price would represent a 22.8 percent premium to Tesla's closing price on Monday. Musk owns approximately 20 percent of those outstanding shares, which would lower the price tag a bit, but it would still be pretty hefty. If the tweet is serious (and not the work of hackers or a particularly wild night on the factory floor), it would allow Tesla to go private and inject some much-needed capital into the company.

Business Facebook Offers Banks Its Users for Their Data
Author: 0 Facebook Offers Banks Its Users for Their Data

It has approached JP Morgan Chase, Wells Fargo , Citigroup and US Bancorp about hosting several offers on Facebook Messenger. Citigroup acknowledged holding talks with Facebook but declined to comment on its willingness to share information about bank card transactions, checking account balances, and geolocation of purchases made by their customers.

Business NASCAR CEO Brian France Arrested for DUI, Oxycodone
Author: 0 NASCAR CEO Brian France Arrested for DUI, Oxycodone

Monday morning after his arraignment in the Harbor Village Justice Court. "Mr France was observed operating a 2017 Lexus northbound on Main Street failing to stop at a duly posted stop sign", read a police statement. France's blood alcohol level was over twice the legal limit (0.08 percent in New York State). And sources tell us ... during the process, France was name-dropping all of the powerful people he knew and even mentioned his relationship with President Donald Trump .

Business Indra Nooyi To Step Down As PepsiCo CEO
Author: 0 Indra Nooyi To Step Down As PepsiCo CEO

Though she will step down as CEO on October 3, she will remain Chairman until early 2019 to aid an easy transition. During her 12-year stint as the CEO, PepsiCo's net revenue grew from $35 billion in 2006 to $63.5 billion in 2017, a compound annual growth rate of 5.5%, the company has said .

Business China rejects USA demand to reduce Iran oil imports
Author: 0 China rejects USA demand to reduce Iran oil imports

Russian Federation and OPEC members Saudi Arabia, Kuwait and the United Arab Emirates have increased production to help to compensate for an anticipated shortfall in Iranian crude supplies once planned USA sanctions take effect in November.

Business Donald Trump holds rally at OH high school before tight special election
Author: 0 Donald Trump holds rally at OH high school before tight special election

Troy Balderson, the Republican in a special U.S. House election on Tuesday. The district has been called an " unshakable Republican bedrock " and was once represented by Ohio Governor John Kasich , but is showing signs of flipping. CNN's Don Lemon spoke to James at the school and the interview included a negative assessment of the president, whom James said has "kind of used sports to kind of divide us".

Business June Trade Deficit Posts Biggest Rise in 1-1/2 Years
Author: 0 June Trade Deficit Posts Biggest Rise in 1-1/2 Years

In May, a rush by Chinese importers to beat Beijing's looming counter-tariffs led to a surge in United States exports of crude oil and soybeans, temporarily driving down the deficit and boosting GDP growth in the April-June period. Meanwhile, imports from the United States were up 0.3 per cent to $32.9 billion, resulting in Canada's trade merchandise trade surplus with the US rising to $4.1 billion.

Business Oil edges lower as supply concerns return
Author: 0 Oil edges lower as supply concerns return

The market expected 1.3 million barrels of gasoline draw. Thursday's data suggests last week's increase might have been an anomaly, traders said. "There's an expectation that the build from this week will be gone next week", said Phil Flynn , an analyst at Price Futures Group in Chicago.

Business Ryanair pilots to stage further strike
Author: 0 Ryanair pilots to stage further strike

The budget airline's pilots in Germany and Holland have also overwhelmingly backed industrial action, but are yet to confirm any dates for walkouts. The airline is bracing itself for another round of strike action next Friday, when 25 per cent of its pilots will strike. "After a year of negotiations, the failure of Ryanair to recognise Sepla and apply Spanish labour legislation for the pilots who operate in Spain forces the union to take a legal path to attain this objective", the union ...