Money

Money Russia Backs Non-dollar Trade With Turkey
Author: 0 Russia Backs Non-dollar Trade With Turkey

The currency tumbled to a record low of around 7.20 lira against the dollar late on Sunday after President Recep Tayyip Erdogan warned of drastic measures if businesses withdraw foreign currency from banks. The summit focusing on Syria and the wider region will be held in Istanbul on September 7 with participation of the most senior representatives from Turkey, Russia, France a nd Germany.

Money Global markets wrap: Turkey crisis piles pressure on Asian shares
Author: 0 Global markets wrap: Turkey crisis piles pressure on Asian shares

Erdogan also said Turkey was boycotting USA electronic products. "There is a price we're paying for the period we're in", Erdogan said, referring to his country's plummeting currency . As Turkey faces a serious financial meltdown, there are several Taiwanese businesses with a significant presence in the Turkish market, that are taking measures to mitigate expected losses in response to the new sanctions and tense political environment developing in Turkey.

Money China Is Sending a Trade Envoy to Washington Amid Tariff Dispute
Author: 0 China Is Sending a Trade Envoy to Washington Amid Tariff Dispute

The delegation led by a deputy commerce minister will visit in late August to discuss "issues of mutual concern", the Commerce Ministry announced Thursday. "If they were determined to fight it out, they wouldn't meet", he told AFP. Donald Trump's administration is threatening further tariffs on $200bn of Chinese goods, in a bid to pressure United States companies to bring production back to the US.

Money Turkey releases Greek soldiers as it slaps 140% tariff on American alcohol
Author: 0 Turkey releases Greek soldiers as it slaps 140% tariff on American alcohol

The Trump regime imposed financial sanctions on Friday against two Turkish government officials and doubled steel tariffs to 50 per cent and aluminium tariffs to 20 per cent in retaliation for the pastor's detention. "Pastor Andrew Brunson is an innocent man held in Turkey & justice demands that he be released". "Recent developments in the U.S. -Turkey relationship threaten both countries' economic interests and put at risk an alliance that has proven its value over decades", said ...

Money Bitcoin dominance reaches 50% for the first time in 2018
Author: 0 Bitcoin dominance reaches 50% for the first time in 2018

The Bitcoin once again came to the threshold level at $6000 losing more than 6% in the past 24 hours. As per the global charts on CoinMarketCap , the cryptocurrency market has dipped to a low of $189 billion which is the lowest in the last nine months since November 2017.

Money Killed in Bridge Collapse in Genoa
Author: 0 Killed in Bridge Collapse in Genoa

A vast span of the Morandi bridge collapsed in the northern port city on Tuesday, sending about 35 cars and several trucks plunging 45 metres (150 feet) onto railway tracks below. The bridge sees some 25 million vehicles every year, and a 2011 report by an Italian highways company said that the bridge had been suffering from degradation.

Author: 0 Turkey doubles tariffs on some USA imports over economy 'attacks'

Also helping the currency were moves by Turkey this week to gain favor with European countries, including releasing two Greek soldiers and an Amnesty International human rights campaigner from prison. "The US is our major trade partner but it's not the only one", Pekcan, the trade minister, was quoted as saying by the official Anadolu news agency .

Money Turkey issues retaliatory tariffs on United States imports
Author: 0 Turkey issues retaliatory tariffs on United States imports

The announcement on Wednesday came after the emir held talks with Turkish President Recep Tayyip Erdogan in Ankara, Turkey's capital. Turkey has doubled tariffs on some USA imports, such as passenger cars, alcohol and tobacco, in what its vice president said was a response to deliberate USA attacks on the Turkish economy.

Money Fired White House aide: 'I will not be silenced'
Author: 0 Fired White House aide: 'I will not be silenced'

In his tweet , Trump praised chief of staff John Kelly for firing Manigault Newman previous year. The White House has since defended President Trump after he called the former aide a "dog" . Largely self-serving, it describes the daily firefighting of life on the Trump campaign and then in the White House. Manigault Newman has been associated with Trump for more than a decade.

Money Setback for US Pastor Brunson as Turkey Retaliates Against Trump
Author: 0 Setback for US Pastor Brunson as Turkey Retaliates Against Trump

In a direct threat against the White House , Erdoğan warned U.S. president Trump, who signed off the sanctions, of unspecified consequences for punishing Turkey . Ferit Temur, an Ankara-based policy analyst on Russian Federation and Eurasia, also said Erdogan's speech demanding the United States abandon its hostile policy towards Turkey and threatening to form new alliances with the East was "a routine, weak political act".

Money China Stops Approving New Games for Sale
Author: 0 China Stops Approving New Games for Sale

China has frozen all approvals of game licences amid a government shakeup. Industry executives have said many games in China, and not just those belonging to Tencent, have since March faced a hiatus in license approvals after China revamped its content regulatory body and divided its powerful State Administration of Press, Publication, Radio, Film and Television earlier this year.

Money Turkey doubles tariffs on some United States goods amid rising tensions
Author: 0 Turkey doubles tariffs on some United States goods amid rising tensions

In a direct threat against the White House, Erdoğan warned USA president Trump, who signed off the sanctions , of unspecified consequences for punishing Turkey. then we will be in the position of having surrendered to the devil", Erdogan said. "Significantly more than just official promises of action are needed to exit the current crisis ", said Andy Birch, principal economist at IHS Markit, calling for "a sharp central bank rate rise".

Author: 0 Turkey raises tariffs on some USA imports in response to economic 'attacks'

Erdogan says Turkey is the target of an economic war, and has made repeated calls for Turks to sell their dollars and euros to shore up the national currency. The tariffs come a day after Erdogan said Turkey would boycott US electronic goods, singling out iPhones . He suggested Turks would buy local or Korean phones instead of US-made iPhones, though it was unclear how he meant to enforce the boycott.

Money Retail inflation eases to 4.17% in July as food prices decline
Author: 0 Retail inflation eases to 4.17% in July as food prices decline

The next bi-monthly policy is to be unveiled on October 5. The Bank expects inflation will settle down to just above its 2% target in two years' time as it gradually increases interest rates. John McDonnell, Labour's Shadow Chancellor, responding to the newly released ONS inflation and prices index, said: 'The latest ONS figures show the disastrous impact of almost a decade of austerity on the living standards of families.

Money Monsanto lose $290 million glyphosate court case
Author: 0 Monsanto lose $290 million glyphosate court case

The plaintiff, Dewayne Johnson, proved to the jury that Roundup herbicide was a "substantial contributing factor" in causing his cancer and that Monsanto failed to warn consumers about the product's cancer risk. "I was thinking of them and I said to myself that this ruling will help them and give them lots of hope", said Paul Francois, author of A farmer against Monsanto .

Money Turkey's Erdogan pledges boycott on United States electronics
Author: 0 Turkey's Erdogan pledges boycott on United States electronics

The currency , the lira, tumbled against the dollar last week when President Trump said he was doubling tariffs on imported Turkish metals to punish Erdogan for refusing to free an American pastor now on trial in Turkey. The country also faces a year-on-year credit deficit if $57bn, or 7 percent of Gross Domestic Product (GDP), and growing unemployment. In other words, Turkey relies on Apple more than Apple relies on Turkey.

Money Trans Candidate Wins Democratic Primary for Vermont Governor
Author: 0 Trans Candidate Wins Democratic Primary for Vermont Governor

No other major political party has ever before nominated a transgender person in a governor's race. She will face incumbent Gov. Phil Scott and stands to become the first openly trans governor in the country. Ten candidates fought for the Democratic nomination to face Walker. Hallquist is the former CEO of Vermont Electric Cooperative, a member-owned utilities group, and has stressed that while media coverage often focuses exclusively on her identity as a transgender woman, she wants to ...

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

FILE PHOTO: A drilling oil rig is seen at sunrise near Midland, Texas, U.S., May 3, 2017. Also on Monday, a monthly OPEC report showed oil production in Saudi Arabia unexpectedly fell last month from June. Market participants awaited industry data on Tuesday from the American Petroleum Institute (API) that analysts expect will show US crude and gasoline inventories fell last week.

Money Turkey to reduce currency risk for companies, Finance Minister Albayrak says
Author: 0 Turkey to reduce currency risk for companies, Finance Minister Albayrak says

Last month, a Turkish court ordered Brunson's release from prison but placed him under house arrest, prompting a furious reaction from the Trump administration, which had demanded that he be allowed to return to the United States. The currency has lost more than 40 per cent of its value over the past year and fell to an all-time low of 7.24 to the dollar on Monday. Turkey's economic crisis boils down to heavy reliance on foreign investments made in dollars, while Turkish assets are ...

Money Turkey to boycott USA products including iPhone, says Erdogan
Author: 0 Turkey to boycott USA products including iPhone, says Erdogan

The dispute centres on Turkey's refusal to release United States pastor Andrew Brunson . Brunson's lawyer, Ismail Cem Halavurt, said the court had up to seven days to decide. The lira has been tumbling as investors question whether the government of President Recep Tayyip Erdogan can cope with problems including the weakening currency and a diplomatic spat with Washington that has resulted in higher USA tariffs.

Money Tesla looking to go private with backing of Saudi fund
Author: 0 Tesla looking to go private with backing of Saudi fund

Musk disclosed on Monday that he had been in talks with Saudi Arabia's sovereign wealth fund and other potential investors on a plan that would delist Tesla from the stock market. Tesla CEO Elon Musk's elaboration on his plan to engineer a buyout of the electric auto maker could get the Silicon Valley maverick into legal trouble by revealing that the deal is far more uncertain than how he initially described it in his brash tweet last week.

Money Erdogan vows action against 'economic terrorists' over lira plunge
Author: 0 Erdogan vows action against 'economic terrorists' over lira plunge

Can such a thing be accepted?" Ankara has repeatedly said the Brunson case was up to the courts and a Turkish judge moved Brunson from jail to house arrest in July. On Sunday, speaking to supporters in Trabzon on the Black Sea coast, Erdogan dismissed suggestions that Turkey was in a financial crisis like those seen in Asia two decades ago.

Money Dhaka 2nd least liveable city in world
Author: 0 Dhaka 2nd least liveable city in world

The study rates cities in the world using a number of measures, including stability, healthcare, culture and environment, as well as education and infrastructure, to calculate an overall liveability rating. "In its own turn, Singapore's score also registered an improvement in the public healthcare category, boasting the highest possible score", EIU said in its press release.

Money Stocks close lower amid Turkish currency crisis
Author: 0 Stocks close lower amid Turkish currency crisis

Germany's VDMA engineering association said that machinery exports to Turkey had fallen almost 5 percent from January to May compared with the first five months in the previous year. In the case of the Philippines, the Bangko Sentral ng Pilipinas raised interest rates by 50 basis points to 4 per cent on Thursday, its biggest hike in a decade, and its hawkish tone prompted USA bank Goldman Sachs, writing on Friday, to become "more constructive" on the outlook for the peso.

Money Firefighters battling Holy Fire continue to make strides
Author: 0 Firefighters battling Holy Fire continue to make strides

A press conference held Monday night confirmed the firefighter from Utah was injured while battling the Ranch Fire . The wildfire is the biggest recorded in California and is located about 100 miles north of San Francisco. He said dry thunderstorms, which produce lightning but little rain, are expected for parts of the Rocky Mountain region, while the United States north-west has critical fire weather conditions that include strong winds and low relative humidity.

Money Rupee Sinks To All-Time Low Of 70 To US Dollar
Author: 0 Rupee Sinks To All-Time Low Of 70 To US Dollar

The unit is down about a fifth against the greenback since Friday. Global markets fear that the Turkish economy is over-heating - the International Monetary Fund (IMF) noted in April 2018 that the country now faces "clear signs of overheating: a positive output gap, inflation well above target, and a wider current account deficit".

Money Turkish president: U.S. set deadline to release detained pastor
Author: 0 Turkish president: U.S. set deadline to release detained pastor

The currency hit a record low of 7.23 per dollar late on Sunday after Erdogan, in a series of speeches over the week, showed no sign of backing down in the standoff against the United States. "The aim of the operation is to make Turkey surrender in all areas from finance to politics. With God's permission we will overcome this", he added.

Money Airline employee steals plane from Seattle airport, crashes
Author: 0 Airline employee steals plane from Seattle airport, crashes

Investigators worked to find out how an airline employee stole an empty Horizon Air turboprop plane , took off from Sea-Tac International Airport and crashed into a small island in the Puget Sound after being chased by military jets. "I think if he managed to pull this off only having experience on a flight simulator , that's incredible", Price said, "and it's even more wonderful that he was able to take the plane off without even crashing it at the end of the runway".

Money Inside the stolen passenger plane
Author: 0 Inside the stolen passenger plane

Two F-15C alert aircraft were quickly dispatched to intercept the plane , seeking to redirect Russell out over the Pacific Ocean to avoid populated areas, according to the North American Aerospace Defense Command . "It just hurts to hear someone you know, and just hear the pain in their voice", Kaelin said. The family of the Seattle airport worker who crashed a stolen commercial plane issued an emotional statement Saturday baring the shock and heartbreak of his death.

Money Saudi Arabia’s sovereign wealth fund in Tesla buyout talks
Author: 0 Saudi Arabia’s sovereign wealth fund in Tesla buyout talks

But the potential transaction's staggering US$82 billion price tag means Tesla is still likely to need to tap other sources of cash. According to estimates from Jeffrey Nassof, a director at Freeman Consulting Services, banks advising Tesla could make $90 million to $120 million in fees, while advisers to Musk could take home $30 million to $50 million.