Markets

Author: 0 Turkish court rejects release appeal of American Pastor

In a tweet on Thursday, Trump urged Brunson to serve as a "great patriot hostage" while he is jailed and criticized Turkey for "holding our wonderful Christian Pastor". Turkey is also seemingly on the brink of a major debt crisis , as a weakening lira makes it harder for Ankara to pay its global dues. Turkish President Recep Tayyip Erdogan has accused the U.S.

Markets Saudi Arabia And Iran Reignite The Oil Price War
Author: 0 Saudi Arabia And Iran Reignite The Oil Price War

At 10:45 am Singapore time (0245 GMT), ICE October Brent crude futures were up 32 cents/b (0.44%) from Monday's settle at $72.93/b, while the NYMEX September light sweet crude contract was 33 cents/b (0.49%) higher at $67.53/b. In February, Saudi Arabia freed nine Iranian fishermen detained for two years, accusing them of entering its waters. OPEC expects non-OPEC supply to expand by 2.13 million bpd next year, 30,000 bpd more than forecast last month.

Markets Morocco campaign to boycott US products in solidarity with Turkey
Author: 0 Morocco campaign to boycott US products in solidarity with Turkey

Turkish presidential spokesman Ibrahim Kalin referred to the conflict with the USA in stark terms saying, "Turkey does not favor an economic war, but it can not remain unresponsive when it is attacked". The call for a boycott appears to be Erdogan's answer to the USA decision to double tariffs on Turkish steel and aluminum imports. Lavrov, alongside Turkish Foreign Minister Mevlut Cavusoglu, also declared, "We are at a turning point, without exaggeration, in world history" from dominance ...

Markets Elon Musk says Saudi fund supports Tesla buyout, talks continue
Author: 0 Elon Musk says Saudi fund supports Tesla buyout, talks continue

The Financial Times reported last week that Saudi Arabia's sovereign wealth fund - overseen by Saudi Crown Prince Mohammed bin Salman - built up a 3 percent to 5 percent stake in Tesla . The founder of the electric auto maker also indicated that he would need to raise about $23bn, not the $70bn that had been reported. According to the report , which cites people with knowledge of PIF's plans, the fund is working to be a part of "any investor pool that emerges" to take Tesla private.

Markets Trump doubles tariffs on Turkey, stoking jitters
Author: 0 Trump doubles tariffs on Turkey, stoking jitters

Compounding the lira's agony, President Donald Trump said yesterday he had doubled steel and aluminium tariffs on Turkey, noting that relations between the North Atlantic Treaty Organisation allies were "not very good". He added: "Relations with countries who behave like this have reached a point beyond salvaging". Gulen denies the allegation. Turkey has detained Mr Brunson for almost two years, accusing him of links to the outlawed Kurdistan Workers Party and the Gulenist ...

Markets Beijing responds to new batch of Trump tariffs
Author: 0 Beijing responds to new batch of Trump tariffs

Data from the General Administration of Customs showed on Wednesday that exports advanced 12.2 percent year-on-year in July. "We have made the case to the Administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America's chipmakers, not China's, and will do nothing to stop China's problematic and discriminatory trade practices", he said.

Markets Tesla take-private skepticism grows after Elon Musk's funding claim
Author: 0 Tesla take-private skepticism grows after Elon Musk's funding claim

The SEC declined to comment. They said this "included discussion as to how being private could better serve Tesla's long-term interests". Teresa Goody, a former SEC official, said Musk "did something inappropriate and caused chaos in the market" in a way that would likely draw scrutiny from investigators.

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

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. A list published by the U.S. Trade Representative's office indicated 279 import product lines for tariffs. There is a mandatory 60-day comment period for industries to ask for exemptions from the tariffs.

Markets Facebook asks JP Morgan, Citibank, Chase to share customer details
Author: 0 Facebook asks JP Morgan, Citibank, Chase to share customer details

To do the same with major banks, Facebook has been trying to convince them that the conversations will be secure and customers' personal data won't be used in advertising. You might rightly question why the behemoth that is Facebook should grow to encompass any more personal information about anyone, let alone information as sensitive as bank accounts.

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

A spokesman for Tesla did not immediately return a request for comment. "Am considering taking Tesla private at $420". He implied the funding values the company at $420 a share. The tweet prompted questions about how serious Musk's intentions were. They were initially driven higher after the Financial Times reported Saudi Arabia has quietly built a big stake in Tesla.

Markets Florida's Back-to-School tax-free holiday begins this Friday
Author: 0 Florida's Back-to-School tax-free holiday begins this Friday

There's no Missouri sales tax on school supplies up to $50 or clothing under $100 from Friday through Sunday. This sales tax free weekend has been going on in MS for ten years. Online purchases of qualifying items are also tax-exempt during the sales tax holiday . The state allows a wide variety of clothing items to go untaxed including fur coats, golf clothes, lingerie, and wedding apparel.

Markets Financial fruit: Apple becomes 1st trillion-dollar company
Author: 0 Financial fruit: Apple becomes 1st trillion-dollar company

Apple's rising share price also speaks to the company's impressive ability to keep consumers interested in the iPhone , an impressive feat given that Apple's smartphone has now been around for more than 10 years. The rise is even more astonishing - 50,000% - since the company first listed in 1980. Apple shares rose 2.7% today and they're up 22% so far this year.

Markets This tech billionaire just lost US$15.9 billion in a single day
Author: 0 This tech billionaire just lost US$15.9 billion in a single day

That means Facebook could feel its effects more strongly later this year. Facebook's daily active users in Europe declined by 3 million amid the new regulation. On a call with analysts, Facebook advised it expected its revenue growth rates to be lower than the year prior, especially in the second half of this year.

Markets Administration Earmarks Up to $12 Billion for Agriculture to Offset Trade War
Author: 0 Administration Earmarks Up to $12 Billion for Agriculture to Offset Trade War

The two would work for zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto goods, he said . Shares of BMW AG, Volkswagen AG, Fiat Chrysler Automobiles NV and Daimler AG jumped on Thursday following a pledge from the two leaders to "hold off on other tariffs" while they negotiate a deal to expand European imports of USA liquefied natural gas and soybeans and lower industrial levies.

Markets Trump Announces $12B Bailout For Farmers
Author: 0 Trump Announces $12B Bailout For Farmers

Last month, the U.S. president slapped tariffs on steel and aluminium imports to prompt tit-for-tat measures by Brussels, including tariffs on tobacco, Harley Davidson motorcycles, cranberries and peanut butter. In 1930, the U.S. raised tariffs dramatically to protect American industry, encouraging other countries to do the same in a global trade war that made the Great Depression worse.

Markets Trump pumps up the volume ahead of Juncker visit
Author: 0 Trump pumps up the volume ahead of Juncker visit

European leaders are trying to talk Trump out of imposing tariffs on imported cars and auto parts, anxious it would hurt both economies. The fear is that Trump will next impose tariffs on European Union vehicle exports, escalating the dispute.

Markets Larry Kudlow attacks China, Xi Jinping and 'mafioso don' local party leaders
Author: 0 Larry Kudlow attacks China, Xi Jinping and 'mafioso don' local party leaders

Trump considers the EU's 10 percent tariff on cars to be unfair compared to the US 2.5 percent tariff, although the United States maintains a 25 percent tariff on pickup trucks. "President Trump inherited this mess and a broken trading system ..." 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.

Markets EU calls for more open Chinese economy ZlotoNews
Author: 0 EU calls for more open Chinese economy ZlotoNews

The European Union on Monday called on the United States, China and Russian Federation to work together to avoid trade "conflict and chaos" to prevent it spiralling into violent confrontation. Therefore, importers should consider making exclusion requests where they feel there is no domestic or third country alternative to the type of goods or materials imported from China.

Markets United Kingdom interest rate rise in doubt as inflation stays at 2.4%
Author: 0 United Kingdom interest rate rise in doubt as inflation stays at 2.4%

The Consumer Prices Index including owner-occupiers' housing costs (CPIH) - the ONS's preferred measure of inflation - was 2.3% in June, in line with May's reading. "Transport [as a contributor to headline CPI] increased from 0.7 of a percentage point in May 2018 to 1.0 percentage points in June". "As well as stagnant real incomes, the Bank of England will be mindful of the deepening economic and political uncertainty" related to Brexit, said Tom Stevenson, investment director Fidelity.

Markets US Senators make final push to ban ZTE with NDAA amendment
Author: 0 US Senators make final push to ban ZTE with NDAA amendment

ZTE are now faced with a ten year suspended ban on sourcing any USA parts or products. The ban stripped ZTE of its access to crucial USA -based suppliers, including Qualcomm. "Assuming ZTE will be able to get back into business next week, we believe the market will start focusing on its earnings prospects". White House trade adviser Peter Navarro said last month Trump agreed to lift the ban as a goodwill gesture to Chinese President Xi Jinping.

Markets Comcast fires new salvo in £26bn battle for Sky
Author: 0 Comcast fires new salvo in £26bn battle for Sky

Comcast's initial offer was considerably higher than the Fox bid that valued the satellite broadcaster at £18.5bn. Rupert Murdoch's 21st Century Fox has kicked off a potential bidding war with U.S. According to The Hollywood Reporter , an executive for 20th Century Fox has filed a lawsuit to put a stop to the sale of 21st Century Fox's studio assets to Disney , which he claims violates securities rules.

Markets Oil falls as Trump urges OPEC to reduce prices
Author: 0 Oil falls as Trump urges OPEC to reduce prices

But, so far, that hasn't lowered oil prices , largely because of the turmoil caused by Venezuelan and Iranian oil sectors, as well Libya pulling hundreds of thousands of barrels of oil out of the market as a result of upheaval there. Although there is some general nervousness over the U.S. An additional fact to consider: Tariffs would make US oil uncompetitive in China. Iran, OPEC's third-largest producer, is facing US sanctions on its oil exports that are prompting some buyers to cut ...

Markets Micron stock falls after Chinese court bans sale of its memory chips
Author: 0 Micron stock falls after Chinese court bans sale of its memory chips

Jinhua said Micron's "unbridled behaviour" had caused "irreparable damage" to the firm and it will keep monitoring any other products that used Micron's chips. Li Yiqiang, partner at law firm Faegre Baker Daniels, said normally courts set a very high bar for granting injunctions in complex patent infringement cases but the trade tensions may have given the court more leeway in this case.

Markets Dan Gilbert pens LeBron James another farewell letter, skips using comic sans
Author: 0 Dan Gilbert pens LeBron James another farewell letter, skips using comic sans

Six-time National Basketball Association champion Jordan defined an era with the Chicago Bulls , but glory in LA - and a title with a third different team - could well give James an edge. The Lakers face the challenge of beating the reigning champions, the Golden State Warriors . Kawhi Leonard prior to Game One of the NBA Western Conference Finals against the Golden State Warriorsc at ORACLE Arena on May 14, 2017.

Markets End of an era: Toys 'R' Us stores close for good
Author: 0 End of an era: Toys 'R' Us stores close for good

By the end of the day Friday all Toys R Us and Babies R Us stores across the USA will be closed for good. "One day, all of us will get separated from each other". After more than 60 years in business, the industry giant is the latest casualty in the ongoing demise of brick-and-mortar retail stores as more and more shoppers turn to online retailers and big-box stores like Walmart and Target that offer one-stop shopping destinations.

Markets Trump Renews Twitter Assault on OPEC
Author: 0 Trump Renews Twitter Assault on OPEC

OPEC , a group of 14 oil-producing nations, is expected to meet again later this month. " Oil prices are artificially Very High!" But OPEC said on Tuesday the outlook for the oil market in the second-half of this year was highly uncertain and warned of downside risks to demand.

Markets USA wants allies to cease oil imports from Iran by November 4
Author: 0 USA wants allies to cease oil imports from Iran by November 4

The United States has told India and other countries to cut oil imports from Iran to "zero" by 4 November or face sanctions, making it clear that there would be no waivers to anyone. Oil analysts said there are concerns that OPEC producers will not be able to fully supply the market after Iranian oil is cut from the market. "It is all of our duty to work together to help the respected government and other governmental branches in solving the economic problems", General Yahya ...

Markets Mnuchin denies stories on China-specific investment restrictions
Author: 0 Mnuchin denies stories on China-specific investment restrictions

Katainen urged China to tackle overcapacity in its steel, aluminum, and other sectors including technology, the European Union said in a statement . "The United States is insisting that all countries that have placed artificial Trade Barriers and Tariffs on goods going into their country, remove those Barriers & Tariffs or be met with more than Reciprocity by the U.S.A".

Markets Supreme Court ruling may boost Virginia tax income by $300M
Author: 0 Supreme Court ruling may boost Virginia tax income by $300M

These small retailers will be less impacted by an uptick in prices as they will be able to pass that on to the consumer. They argued it is an unfair and heavy burden to require them to collect varying taxes charged by more than 10,000 jurisdictions across the country.

Markets Euro finance ministers seek to conclude Greek bailout saga
Author: 0 Euro finance ministers seek to conclude Greek bailout saga

Eurozone President and Portuguese Finance Minister Mario Centeno said at a press conference shortly after the meeting "after eight long years Greece will finally be graduating from its financial assistance". "The problem of the Greek debt is behind us now", France's Finance Minister Bruno Le Maire told reporters. The ministers finalised the last revision of the third bailout program after verifying that Athens has complied with the 88 requirements, and consequently approved a final ...

Markets Erdogan leads in Turkey’s presidential election - preliminary results
Author: 0 Erdogan leads in Turkey’s presidential election - preliminary results

In a first for the nation, President Erdogan has won sole power of Turkey after beating leading opponent Muharram Ince to the top after a referendum previous year saw Turkey vote in favour of scrapping their prime minister role. In the Kurdish town of Suruc, bloodshed erupted earlier this month between AKP and HDP supporters, killing four people, marring what had otherwise been a largely peaceful election.

Markets Bitcoin price drops again after yet another cryptocurrency exchange hack
Author: 0 Bitcoin price drops again after yet another cryptocurrency exchange hack

Bitcoin was up 4 percent to 7.42 million won as of 2:20 p.m. while Etherum was up 5 percent to 591,500 won, according to Bithumb. The minor correction was evidently triggered by the Bithumb hack , which immediately stopped the corrective rally of the cryptocurrency market and the short-term rally of Bitcoin from $6,300 to $6,700.

Markets Trump Threatens Another $200 Billion in Chinese Tariffs as US Stocks Plunge
Author: 0 Trump Threatens Another $200 Billion in Chinese Tariffs as US Stocks Plunge

That's 90 percent of everything China exports to the USA, from electronics, clothing, toys, tools, you name it. Trump has previously said Canada slaps 270 per cent tariffs on dairy. The president said the only acceptable result for his administration is a significant reduction in the trade deficit and balanced fair trade between both countries.

Markets European Union retaliatory tariffs on USA goods go into effect
Author: 0 European Union retaliatory tariffs on USA goods go into effect

In a tweet Friday, Trump complains about European Union trade barriers and vowed "if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. European Union steel and aluminium exports now facing U.S. tariffs are worth a total of €6.4 billion. Trump has always been fixated on imported cars.

Markets Trump falsely claims exoneration from report
Author: 0 Trump falsely claims exoneration from report

Trump wielded it as a blunt instrument Friday, bludgeoning the integrity of the Justice Department. Politico reported that House Judiciary Committee Chairman Bob Goodlatte (R-Va.) had started the process to subpoena Strzok, though Goelman said that the lawmaker had done so without having asked whether Strzok might appear voluntarily.

Markets $60/Hour Needed To Afford 2-Bedroom San Francisco Apartment
Author: 0 $60/Hour Needed To Afford 2-Bedroom San Francisco Apartment

The map below shows the hourly wage needed to afford a fair-market rent, one-bedroom apartment by state, assuming a 40-hour work week, 52 weeks a year, as calculated by the NLIHC. But if you're one of the many Bay Area residents fleeing because of the local housing crisis, you may still have difficulty elsewhere. The findings are based on the standard budgeting concept of not spending more than 30 percent of one's income on housing.

Markets Trump set to announce tariffs on $50B worth of Chinese goods
Author: 0 Trump set to announce tariffs on $50B worth of Chinese goods

Administration officials have signaled support for imposing the tariffs in a dispute over allegations that Beijing steals or pressures foreign companies to hand over technology, according to officials briefed on the plans. The countries said in a joint statement that China would "significantly increase" purchases of U.S. agricultural and energy products to reduce the trade imbalance, a top Trump administration demand.

Markets AT&T-Time Warner merger to change media landscape
Author: 0 AT&T-Time Warner merger to change media landscape

The government argues AT&T could hammer rivals seeking Time Warner programming like CNN because it knows that if talks with a competing cable company break down and CNN becomes unavailable, some customers would switch to AT&T's DirecTV business.

Markets Bitcoin crashed after another crypto exchange got hacked
Author: 0 Bitcoin crashed after another crypto exchange got hacked

Enthusiasm for virtual currencies has waned partly due to a string of cyber heists, including the almost $500 million theft from Japanese exchange Coincheck Inc.in late January. Coinrail said the balance 70% of virtual coins are now secure in its "cold wallet", which operates on platforms not directly connected to the internet.

Markets In battle of tweets, Canada's Trudeau dismisses Trump critique
Author: 0 In battle of tweets, Canada's Trudeau dismisses Trump critique

Hours after the G7 summit, US President Donald Trump is attacking Canadian Prime Minister Justin Trudeau again for " false statements", and he is refusing to endorse the summit's communique that called for reducing tariff barriers. Trump withdrew the United States from the global deal reached in Paris in December 2015 to curb global warming, and last month from world powers' July 2015 nuclear deal with Iran, asserting that it was one-sided in Tehran's favour.

Markets Commerce Secretary: US reaches deal with China's ZTE
Author: 0 Commerce Secretary: US reaches deal with China's ZTE

The US Department of Commerce has finally come to an agreement with the Chinese telecom company ZTE (HKSE:0763). The company has agreed that if it violates any of the terms of the agreement it will pay the $400 million and will enter into a ten-year suspension from exporting to the US.

Markets Kitty Hawk Flyer ready for production
Author: 0 Kitty Hawk Flyer ready for production

Unfortunately, there is no info on the price for which the Flyer would be sold. The quick training time makes the flying vehicle more accessible, according to Sebastian Thrun, a self-driving auto innovator and CEO of Kitty Hawk . In addition, the one-person drone doesn't require a pilot's license to fly (in the U.S.), similar to motorized ultra-lights and other recreational aircraft under 254 pounds.

Markets NTSB releases preliminary findings on March's fatal Tesla Model X crash
Author: 0 NTSB releases preliminary findings on March's fatal Tesla Model X crash

The investigation is ongoing and could lead to the NTSB issuing new safety recommendations aimed at preventing similar accidents. The preliminary results of that NTSB investigation have been released, and they are concerning. During the 60 seconds prior to the crash, the driver's hands were detected on the steering wheel on three separate occasions, for a total of 34 seconds; for the last 6 seconds prior to the crash, the vehicle did not detect the driver's hands on the steering wheel.

Markets ZTE Said to Have Signed Preliminary Agreement to Lift US Ban
Author: 0 ZTE Said to Have Signed Preliminary Agreement to Lift US Ban

Moreover, the U.S. Commerce Department is expected to count the $361 million ZTE paid a year ago as part of a settlement agreement, which will allow the government to claim no less than $1.7 billion in penalties. The U.S. threatened sanctions, but ZTE promised to change its practices and punish the executives responsible for its misconduct. ZTE seemingly had little hope of survival until President Donald Trump tweeted that he was pushing the Commerce Department to work with ZTE to remove ...

Markets Justin Trudeau says tariffs on steel and aluminum are 'insulting'
Author: 0 Justin Trudeau says tariffs on steel and aluminum are 'insulting'

Commerce Secretary Wilbur Ross is now in China to talk trade. If a threat is found, the Commerce Department will recommend tariffs and quotas to curb imports. However, things could change if a trade war begins with China. MPs called for even tougher retaliatory steps, with Labour MP John Mann suggesting the United Kingdom impose "golf tariffs" aimed at Trump's properties.

Markets Merkel reaches out to Macron on European Union reforms
Author: 0 Merkel reaches out to Macron on European Union reforms

First, she supports the idea of turning the euro zone's ESM bailout mechanism into a European Monetary Fund that could offer short-term loans for countries under economic stress. As an alternative to European Union defense forces, Mr. Macron has hinted at closer cooperation between France and the United Kingdom, western Europe's two major military powers, both of which possess nuclear weapons.

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