Economy

Qatar pledges $15 billion to Turkey as lira rallies

Qatar pledges $15 billion to Turkey as lira rallies The promise of an investment package comes after Qatar's Emir Tamim bin Hamad Al-Thani met with President Tayyip Erdogan in Ankara and as Turkey comes to terms with a collapse in the lira amid rising tensions with North Atlantic Treaty Organisation ally the US. [Full Article...]

Erdogan: Turkey can do without U.S. electronic goods

Erdogan: Turkey can do without U.S. electronic goods The Turkish lira rose for a second day on central bank liquidity measures, while other emerging market currencies stumbled again, with the South African rand hitting a 13-month trough and the Indian rupee lingering near an all-time low. While Erdogan didn't address their concerns in his speeches on Tuesday, he suggested Turks have already begun responding to his call to convert foreign exchange ... [Full Article...]

Oil rises on concern over Saudi and Iranian supply

Oil rises on concern over Saudi and Iranian supply Oil prices dipped on Monday as rising trade tensions dented the outlook for fuel demand growth especially in Asia, although U.S. sanctions against Iran still pointed towards tighter supply. Oil prices slid Monday after inventories at a key U.S. crude delivery hub jumped last week, adding to demand concerns. Riyadh told Washington in June it would increase output in attempt to make up for Iranian... [Full Article...]

Could Turkey's currency crisis spread "contagion"?

Could Turkey's currency crisis spread Turkish President Recep Tayyip Erdogan vowed that his country would boycott US -made electronic goods, including iPhones . Singling out the iPhone, he suggested Turks buy Samsung Electronics Co. The country's Finance Minister will seek to reassure around 1,000 worldwide investors in a teleconference scheduled for Thursday. Although relations between Russian President Vladimir Putin and Tur... [Full Article...]

Tesla board says it will assess plan to go private

Tesla board says it will assess plan to go private Tesla shares fell 1.2 per cent after opening sharply higher. The SEC is reportedly looking into Musk's tweets about taking the company private, if Musk tweeted that he had " funding secured " for the process without actually having the money to back it up, it could be argued that the CEO was attempting to inflate Tesla stock prices with the tweet which could spell disaster for Musk. [Full Article...]

Emerging markets head for 'textbook currency crisis'

Emerging markets head for 'textbook currency crisis' Turkey's Capital Markets Board (SPK) and financial crime board have also said they would take legal steps against those who spread misinformation about financial institutions and firms, or reports that the government would seize foreign-currency deposits. [Full Article...]

Firefighter dies in Mendocino Complex Fire

Firefighter dies in Mendocino Complex Fire His bail has been set at $1 million dollars. The Ranch Fire is 62 percent contained as of Monday morning. Cal Fire has announced the Ranch Fire as the largest in California history at over 287,000 acres. Three firefighters have died in the blaze, which started on July 23 and has burned through 206,000 acres and destroyed 1,077 homes near Redding in the far northern Shasta County in Californi... [Full Article...]

Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low

Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low However, according to an Economic Times report, Turkish lira , Russian ruble, Argentine peso have significantly weakened against the dollar. Nervous investors were keeping an eye on developments in Ankara after yesterday's bloodletting that saw the lira hit record lows against the dollar and euro , and equity markets go into freefall on concerns Turkey's financial crisis could spread globally.... [Full Article...]

Turkey launches probe into ‘fake news’ over lira rumors

Turkey launches probe into ‘fake news’ over lira rumors The economic troubles in Turkey have gripped global financial markets, with investors scrambling to determine whether and how far pain there would spread. Terry Sandven, chief equity strategist at US Bank Wealth Management, said the dollar has strengthened because economic growth has picked up and other regions aren't doing as well. [Full Article...]

Man Steals Passenger Plane, Does Stunts Before Crashing

Man Steals Passenger Plane, Does Stunts Before Crashing But she said SeaTac airport stakeholders are talking about what more can be done. He told them, "Those guys will rough me up if I try and land there". Authorities said an airline employee had made "an unauthorised take-off" without any passengers on board. Aug 13, 2018 An example of the Horizon Air q400 airplane like the one involved in Friday's incident. [Full Article...]

After Tesla Buyout Tweet, Some Investors Wonder: Where Was Nasdaq?

After Tesla Buyout Tweet, Some Investors Wonder: Where Was Nasdaq? The comment by Elon Musk on Twitter on taking the company private alerted the Securities and Exchange Commission and the regulatory body is said to have initiated an inquiry into the issue. It boosted Tesla's stock price immediately. After adjusting for inflation, that's more than the record-setting buyout of RJR Nabisco that closed in 1989. [Full Article...]

Saudis in talks to take Tesla private: Elon Musk

Saudis in talks to take Tesla private: Elon Musk While Tesla CEO Elon Musk teased last week about taking the company private, several suitors may have already been courting the electric auto giant months ago. One suit claims Musk and the company committed fraud in a " short squeeze " scheme to drive up Tesla's stock price higher. Among the reasons, they said, is that SoftBank has already placed big bets on the future of the automobile ... [Full Article...]

S&P 500, Dow end lower with energy, financials; Tesla falls

S&P 500, Dow end lower with energy, financials; Tesla falls Leading sector declines was the S&P energy index .SPNY , which fell 0.9 percent . Dropbox fell 6.2 percent despite a better-than-expected quarterly report. The Nasdaq gained 0.3 per cent for the week after strong gains in some technology shares. Tribune shares rose 2.2 percent. Tribune shares rose 2.9 percent. [Full Article...]

Erdogan says Turkey has become 'target of economic war'

Erdogan says Turkey has become 'target of economic war' Erdogan is also upset at the protection USA coalition forces are providing the Kurds in Syria , against the invading Turkish army. Aksoy also said Turkey wants to solve the issues through diplomacy, dialogue, good intentions and bilateral understanding. [Full Article...]

U.S. airline worker steals plane, takes it for flight before crashing it

U.S. airline worker steals plane, takes it for flight before crashing it He said over the radio:"I got a lot of people that care about me and it's going to disappoint them to hear that I did this". They should've gone over and said "Hey, ' if nothing else, 'Can I help you?" "I'm a broken guy who had a few screws loose". [Full Article...]

Tesla board to meet to discuss taking company private

Tesla board to meet to discuss taking company private The company declined to comment on whether its CEO's financing comments were true, while the U.S. According to the reports, Elon Musk said that according to public firms and companies, share prices vary depending on the demand in the market and the exchange rates. [Full Article...]

Chinese state media accuse US of 'mobster mentality', vow to fight tariffs

Chinese state media accuse US of 'mobster mentality', vow to fight tariffs The list includes a lot of industrial and machinery products. While the rhetoric of verbal exchanges between the two countries were on for some time, the triggering action was the initiation of a Section 301 case by the United States Trade Representatives (USTR) against China's intellectual property right (IPR) policies. [Full Article...]

Bitcoin price analysis: BTC/USD crashes to $6,556 as SEC postpones VanEck verdict

Bitcoin price analysis: BTC/USD crashes to $6,556 as SEC postpones VanEck verdict Meanwhile, the ETF team has submitted to the SEC key changes addressing all concerns cited as reasons for rejecting Solidx Bitcoin Trust ETF a year ago. To do so would, though, require a rule change from CBOE Global Markets Inc for that to happen, and that's what the SEC has been mulling over. Bitcoin was down around 8 percent from 24 hours ago at 10.53 a.m. [Full Article...]

Britons safe to use weedkiller, Monsanto insists after £226m cancer lawsuit loss

Britons safe to use weedkiller, Monsanto insists after £226m cancer lawsuit loss He argued in court that years of using Roundup led him to being diagnosed with cancer in 2014. In a landmark case, a Californian jury found that Monsanto knew its Roundup and RangerPro weedkillers were risky and failed to warn consumers. [Full Article...]

Hundreds of flights cancelled across Europe in Ryanair strike

Hundreds of flights cancelled across Europe in Ryanair strike But Ryanair, in a statement said "there will be no cancellations (of flights to and from the Netherlands) as a result of the unnecessary strike action by the Dutch pilot union". The action is the largest in a series of strikes over pay and conditions. The unions are demanding a raise in salaries, unions say, alongside the issuing of more secure working contracts that are valid in each pilot's ... [Full Article...]


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