• As new tariffs hit, US, China seek to avert more economic damage
As new tariffs hit, US, China seek to avert more economic damage

Ironically, the goods the United States has targeted are mostly intermediate products manufactured in China by multinational companies imported by US-based manufacturers, and miss Chinese firms, according to analysts. China so far has retaliated in kind, hitting American agricultural goods and autos in July, along with new taxes on more than 300 ...

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  • Trump ignites debate on earnings reports
Trump ignites debate on earnings reports

He suggested that a switch to only half-yearly reporting would save companies money, echoing the wishes of several top chief executives. Listed companies in the U.S. Trump's proposal, offered in a 7:30 a.m. tweet, took the securities industry by surprise and prompted some to worry that it could unintentionally lead to more market volatility and c...

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  • The Turkish lira tumbles to 5.86 over threat of more U.S. sanctions
The Turkish lira tumbles to 5.86 over threat of more U.S. sanctions

On Thursday, Trump tweeted that the U.S. would " pay nothing " for the release of Brunson, but would punish Ankara if he is not released. During the meeting, Trump remarked that Turkey has "not proven to be a good friend". Turkey's finance minister sparked a recovery in the lira yesterday after he addressed thousands of worldwide investors on a...

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  • Crude oil futures climb 1.46% on firm global cues
Crude oil futures climb 1.46% on firm global cues

The organization reviewed its 2018 forecast and increased production by 1.64 million barrels per day (Mmbdp), to reach an average of 98.83 Mmbpd. Expectations of this week's drop resumes the inventory decline trend that begun in mid-May and was interrupted by a 3.8 million-barrel build in the week ended July 27.

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  • Turkey doubles tariffs on some USA imports over economy
Turkey doubles tariffs on some USA imports over economy "attacks"

Stocks were weaker in most major Asian markets today, with Turkey's financial crisis showing little sign of abating as Ankara hiked tariffs on several USA goods in a tit for tat move. Brunson, who has lived for two decades in Turkey, was arrested in 2016 and charged with having terrorist connections. TUSIAD, the Turkish Industry and Busin...

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  • Musk says in talks with Saudis, others on taking Tesla private
Musk says in talks with Saudis, others on taking Tesla private

On Tuesday he tweeted that he had secured funding to buy all Tesla shares and take the company private. That blog post appears to name Saudi Arabia's sovereign wealth fund as being responsible for the funding that Musk said was "secured" in his tweet.

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  • Even American Condoms Are Screwed In The Trump-China Trade War
Even American Condoms Are Screwed In The Trump-China Trade War

The action is the latest by U. S. The US imports considerable quantities of Chinese active pharmaceutical ingredients (bulk drugs) for the production of finished dosage (formulations). "According to our calculation, after the 25-percent tariff, USA coal will cost at least $30 per tonne more , which basically rules it out of the Chinese market".

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  • Turkish lira continues to nosedive, amid 'economic war' with the
Turkish lira continues to nosedive, amid 'economic war' with the

The euro zone bank sell-off was also exacerbated by a report in the Financial Times that the European Central Bank is increasingly concerned about some lenders, particularly BBVA of Spain, UniCredit of Italy and BNP Paribas of France as they have some of the largest operations in Turkey among euro zone banks.

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  • China exports top forecasts but warning over United States tariffs impact
China exports top forecasts but warning over United States tariffs impact

Although the move was expected, it cements the view that there appears to be no effort underway to defuse the dispute between the world's two largest economies that have continued to exchange threats. Meanwhile, uncertainty remains as to whether the USA will follow through with threats of tariffs on $200 billion of Chinese imports, which were propo...

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  • Elon Musk isn't kidding, Tesla board confirms TSLA could go private
Elon Musk isn't kidding, Tesla board confirms TSLA could go private

A SoftBank spokesman declined to comment. This included discussing how being a private company could better serve Tesla's long-term interests. Former SEC chair Harvey Pitt told CNBC that while the U.S. subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, bu...

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  • Trump vows to impose tariffs on more Chinese goods
Trump vows to impose tariffs on more Chinese goods

Trump has threatened to levy a 25% tariff on an additional $200 billion worth of Chinese imports to the United States - a move that would blow open the disagreement between the countries. "Although this may for a moment bring preening with delight, it will make it hard to resolve economic imbalances or out of kilter politics and other deep-rooted...

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  • Facebook wants banks to share your personal finances
Facebook wants banks to share your personal finances

Far less trusted Facebook, probably because it is in the business of marketing personal information to others, and more recent surveys have indicated user trust in the company has taken a nosedive . But Facebook is saying it won't collect any of your bank's financial or transactional information about you, and that opting into the service will onl...

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  • Musk Says in Tweet He Is Considering Taking Tesla Private
Musk Says in Tweet He Is Considering Taking Tesla Private

Tesla didn't immediately respond to a request for comment. "Am considering taking Tesla private at $420". That price would represent a 22.8 percent premium to Tesla's closing price on Monday. The fact that the tweet gives a specific price, and that $420 is a long-standing marijuana in-joke, makes it even more possible that this is a hoax or Mus...

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  • Oklahoma's tax-free weekend expected to draw big crowds
Oklahoma's tax-free weekend expected to draw big crowds

Rob McColley, R-Napoleon, expects Ohioans to save millions of dollars this year on back-to-school shopping. Pinson said the mall will be running other promotions this weekend as well. Tax-free items eligible this year include most clothing and footwear except for things like swim fins, in-line skates, watches (that's jewelry) and umbrellas.

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  • Apple becomes first trillion-dollar company
Apple becomes first trillion-dollar company

Apple which is also considered as one of the most valuable company has emerged as the first company in United States stock market history to reach $1 trillion market valuation . Amazon had the second-largest USA market cap as of Wednesday, at roughly $872.5 billion. Shares of Apple this week traded at about 15 times expected earnings, compared to...

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  • FACEBOOK FAIL: Zuckerberg Loses $16 BILLION in FIVE MINUTES as Shares PLUNGE
FACEBOOK FAIL: Zuckerberg Loses $16 BILLION in FIVE MINUTES as Shares PLUNGE

After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent today. After the earnings report, executives worked to explain the potential of Facebook's other properties, not just the main social network, to fuel growth.

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

US President Donald Trump suggested on late Tuesday that the European Union should simultaneously with the United States lift all customs tariffs, trade barriers and subsidies. It is a far cry from two weeks ago, when some Germans were questioning his fitness for the job after he was seen staggering - due to sciatica, he insisted, not alcohol...

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  • Trump tells everybody 'be cool' as trade tensions escalate
Trump tells everybody 'be cool' as trade tensions escalate

The leaders pledged to expand European imports of US liquefied natural gas and soybeans and both vowed to lower industrial tariffs, excluding autos . Trump has floated the idea in the past, but he tweeted Tuesday night that he doubts the Europeans will go for the idea. Trump added they would try to "resolve" steel and aluminum tariffs he imposed...

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  • Trump to Give Farmers Aid, but Farmers Aren't Thrilled
Trump to Give Farmers Aid, but Farmers Aren't Thrilled

Deere & Co jumped 2.7 per cent, while Caterpillar Inc gained more than 1 per cent and AGCO Corp rose 0.5 per cent. Soybean futures, hit hard by China's retaliatory tariffs, rose 1.2 per cent and hit their highest in two weeks as traders bet farm aid would improve demand, reducing a current surplus supply.

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  • Trump adviser Kudlow optimistic that boom times will continue
Trump adviser Kudlow optimistic that boom times will continue

The United States has raised the stakes in the dispute, threatening to slap 10 percent tariffs on an extra $200 billion worth of Chinese imports, including numerous consumer items. Mr. Kudlow said the current administration is trying to pull America out of the "growth recession" it has been mired in since at least the Y 2008 financial crisis.

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  • USA tariff war to adversely affect worldwide trade: China
USA tariff war to adversely affect worldwide trade: China

With both sides suffering, the seafood industry increasingly becomes a battleground in the simmering trade war between the United States and China . As expected, in response to the U.S. exports are illegal under WTO rules, U.S. Trade Representative Robert Lighthizer said in a statement . The US Section 232 tariffs remain controversial domesti...

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  • United Kingdom pay growth slows to six-month low
United Kingdom pay growth slows to six-month low

Consumer price index (CPI) inflation, the measure targeted by the Bank, has now remained at 2.4 per cent for three months in a row, according to data published today by the Office for National Statistics (ONS). Prices were expected to grow by 10.1 percent. United Kingdom inflation unexpectedly held at 2.4 percent last month as cheaper clothing ...

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  • Theresa May survives knife-edge customs union vote
Theresa May survives knife-edge customs union vote

She also saw off an attempt by pro-European Union rebels in her own party require the government to try to negotiate a customs union arrangement with the EU if, by January 21, 2019, it had failed to negotiate a frictionless free trade deal with the bloc.

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  • United Kingdom clears 21st Century Fox to buy satellite pay-TV giant Sky
United Kingdom clears 21st Century Fox to buy satellite pay-TV giant Sky

Murdoch has agreed to sell Fox's entertainment assets including its stake in Sky to Disney , though Comcast is weighing another counteroffer for the Fox portfolio. On Monday Matt Hancock, who previously held the role, was made health secretary and replaced in the Department for Digital, Culture, Media and Sport (DCMS) by Jeremy Wright.

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  • 'Please stop' tweeting about oil, Iran tells Trump
'Please stop' tweeting about oil, Iran tells Trump

Tehran blames rising prices on USA sanctions imposed on Iran and Venezuela , founding members of the cartel. At their meeting in Vienna last month, OPEC countries and key ally Russian Federation said they will raise production by a million barrels per day, but analysts are concerned it may not be enough for oil prices to spiral out of cont...

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