• Turkey will respond if United States imposes more sanctions: minister
Turkey will respond if United States imposes more sanctions: minister

Turkey rejected a US appeal calling for the release of an imprisoned American pastor, but an upper court still needs to rule on that appeal. The court ruling comes amid a diplomatic spat between Turkey and the United States that has seen tariffs from both sides pile up and an exchange of threats of further sanctions.

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  • OPEC lifted crude production in July
OPEC lifted crude production in July

Crude prices were lower Monday morning, with West Texas Intermediate for September delivery trading down about 0.4% at $67.33. "But this was not enough to prevent the inventory build". In July, Saudi Arabia told OPEC it cut production by 200,000 bpd to 10.288 million bpd. In addition, OPEC reduced its projection for global oil demand growth f...

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  • Erdogan says Turkey to boycott iPhone, other US electronics
Erdogan says Turkey to boycott iPhone, other US electronics

Turkey sought to face down the USA and currency traders as its president, Recep Tayyip Erdoğan , reportedly received support from the German chancellor, Angela Merkel. "Together with our people, we will stand decisively against the dollar, forex prices, inflation and interest rates". Erdogan again urged Turks to convert their US dollars into t...

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  • Rupee hits lifetime low of 70 per dollar
Rupee hits lifetime low of 70 per dollar

From pulling out videos of the prime minister talking about the rupee vis a vis dollar to the long-ago comment of his 56-inch chest during an election rally in 2014 to the rupee value during the UPA under Manmohan Singh as the prime minister, the Opposition spared nothing while hitting out at the government for the rupee dropping to 70.

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  • Tesla seeks wide investor pool to back its take-private plan
Tesla seeks wide investor pool to back its take-private plan

Musk's email to Tesla employees posted on Tesla's website on the day of the tweet explained the rationale for the going-private plan, but Musk has yet to prove that the "funding secured" part of his tweet was true. The SEC has asked Tesla if Musk had facts to back up his claim on Twitter that funding is "secured", people familiar with the...

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  • China Places Tariffs On Recyclables, Dealing Another Blow To Oregon
China Places Tariffs On Recyclables, Dealing Another Blow To Oregon

LNG", Brennan wrote in a Tuesday note. However, considering the worries of U.S. companies, they had put an extra charge on $ 16 billion worth of goods at that time. These commodities, worth a combined $60 billion, are subject to extra tariffs at four different rates from 5% to 25%. The tariff total could actually increase soon.

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  • Turkish lira slumps to new record low as Donald Trump doubles tariffs
Turkish lira slumps to new record low as Donald Trump doubles tariffs

Turkey and the US are now experiencing rocky relations following Washington's imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing American Pastor Andrew Brunson , who faces terrorism charges in Turkey.

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  • Chinese media warns against 'wantonly' rising tariffs in U.S. trade war
Chinese media warns against 'wantonly' rising tariffs in U.S. trade war

China's levies will come into force at 12:01 on August 23, according to a statement on the finance ministry's web site. A draft list of products China released in June contained 114 tariffs lines, but the final list released Wednesday includes 333 categories, although the value of $16 billion remains the same.

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  • SEC looking into Tesla after Elon Musk's tweets, reports say
SEC looking into Tesla after Elon Musk's tweets, reports say

Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long term. Musk owns about 20 percent of the Palo Alto, California, company's stock, so that likely would reduce the cost of the buyout. "Basically, I'm tryin...

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  • China's July exports rise more than expected despite US tariffs
China's July exports rise more than expected despite US tariffs

For instance, the major complaint is about the theft of USA intellectual property by Chinese firms. The Trump administration just announced tariffs on another $16 billion in Chinese imports to the U.S. The US decision to levy 25 percent tariffs on the same value of Chinese goods is "very unreasonable", and China will have to retaliate to protec...

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  • Facebook asks JP Morgan, Citibank, Chase to share customer details
Facebook asks JP Morgan, Citibank, Chase to share customer details

A recent Wall Street Journal story implies incorrectly that we are actively asking financial services companies for financial transaction data - this is not true. What that means is that if you're anxious about Facebook having any connection with banks, the WSJ's report should alarm you. Facebook's pitch to the financial world comes months ...

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  • Elon Musk tweets about going private and shares 'skyrocket'
Elon Musk tweets about going private and shares 'skyrocket'

Tesla didn't immediately respond to a request for comment. "Yes, might take Tesla private", he said. At 2:08 p.m. ET, Nasdaq reportedly halted trading of Tesla's shares. It would be one of the biggest go-private deals on record with a price tag of about $72 billion, based on $420 per share. Musk's other company, aerospace firm SpaceX, is priv...

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  • Tax-Free Holiday: Sales during school supply tax holiday weekend
Tax-Free Holiday: Sales during school supply tax holiday weekend

Parents will also save tax on certain school supplies if each item is $15 or less. Seventeen states schedule tax holidays throughout the year, according to the Federation of Tax Administrators. The three-day tax-free holiday was held the first weekend in August to give families a break on the cost of clothing , shoes, sports gear, comput...

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  • Apple briefly becomes the first $1 trillion US company
Apple briefly becomes the first $1 trillion US company

He took over after the death of founder Steve Jobs , who was identified with launching many of Apple's most iconic products, including the iPhone smartphone and the iPad tablet. market cap as of Wednesday, at roughly $872.5 billion. A company's market value is calculated by multiplying its current share price by the total number of shares invest...

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  • Facebook just had its worst week in the company’s history
Facebook just had its worst week in the company’s history

Facebook shares have been in the tank since the company released its earnings Wednesday afternoon. We're starting to see that this quarter. Facebook has been an omnipresent part of American news for what seems like all of 2018, and rarely with a positive connotation .

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  • Carmakers surge after Trump agrees to put auto tariffs on hold
Carmakers surge after Trump agrees to put auto tariffs on hold

Meanwhile, farmers inspecting crops in North Dakota said they preferred not to rely on the aid but we're optimistic that Trump would find a long-term solution. It remains to be seen if the surprise deal, which came together in just three and half hours of talks, will stand the test of time despite Juncker and Trump's "understanding".

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  • Trump administration announces $12 billion 'bailout' for farmers
Trump administration announces $12 billion 'bailout' for farmers

The largest economic relationship anywhere in the world. Trump has been critical of the European Union over its $150 billion trade surplus with the U.S. That sentiment was echoed by other agricultural lobbies, including the recently formed Farmers for Free Trade - which is preparing a $2.5 million campaign against the president's tariffs.

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  • USA announces $12 bn in aid to farmers hurt by trade tariffs
USA announces $12 bn in aid to farmers hurt by trade tariffs

A "trade promotion program" will work to find new markets for US agricultural products. White House officials contend the tariffs inflict some necessary minor, domestic short-term pain in order to achieve long-term large gains for the US economy.

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  • China slams senior US official's remarks on trade dispute
China slams senior US official's remarks on trade dispute

U.S. Trade Representative Robert Lighthizer last week listed thousands of additional Chinese products that could face 10 percent tariffs - valued as much as $200 billion - as early as September. Kudlow's calls for steady or increasing growth in the coming cycle comes up against broad-market expectations of a mild downturn in 2019 and beyond, but Ku...

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  • Trump Trade War- China vows to adopt countermeasures
Trump Trade War- China vows to adopt countermeasures

China has previously prevailed in WTO dispute settlement against the United States in a successful challenge to restrictions on steel imports imposed under President George W. China's economic growth slowed in the second quarter of 2018 as the trade war with the US intensified, according to Reuters . "We have noted relevant reports".

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  • 'Sterling will suffer in short term': June inflation unchanged at 2.4%
'Sterling will suffer in short term': June inflation unchanged at 2.4%

However, although the price of gas and electricity increased, and petrol prices rose to their highest level since September 2014, the cost of clothing and computer games fell. The Consumer Prices Index including owner occupiers' housing costs (CPIH) remained at 2.3% in June 2018 and has steadied from its recent high of 2.8% in autumn 2017.

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  • West Oxfordshire MP resigns from government over Brexit plan
West Oxfordshire MP resigns from government over Brexit plan

The prime minister survived a backbenchers' rebellion demanding a customs union deal with the EU - but lost a separate vote demanding free flow of medicines across Europe post-Brexit. On Friday, she will give a speech in Belfast about the government's Brexit White Paper and how it addresses the Irish border issue. In response to that, Mr Jones ur...

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  • Rupert Murdoch gets go-ahead to bid for all of Sky
Rupert Murdoch gets go-ahead to bid for all of Sky

RBC Capital Markets analyst Steven Cahall issued a report today noting that, with the bid for Sky, Comcast may be choosing sides as the cable giant simply can't afford both acquisitions. U.S. media giant Comcast threw its hat into the ring in February with a £22bn offer for Sky, trumping an offer from Fox, and starting a bidding war.

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  • Are gasoline prices in the USA really too high?
Are gasoline prices in the USA really too high?

The UAE was the fourth largest Opec producer with 2.89 million barrels per day in June after Saudi Arabia (10.3mbpd), Iraq (4.5mbpd) and Iran (3.7mpbd). Saudi Arabia and Russian Federation have agreed to increase output, but most of their 1 million bpd increase was expected to cover the short fall from Iran.

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  • Micron Rallies as It Says Injunction in China Won't Affect Its Quarter
Micron Rallies as It Says Injunction in China Won't Affect Its Quarter

The company said on Thursday that it expects to lose only one percent of its revenue because of the order, which was handed down by Fuzhou Intermediate People's Court in Fujian Province. Micron will continue to aggressively defend against these unfounded patent infringement claims while continuing to work closely with its customers and partners.

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