Economy

Turkey Doubles Tariffs on some US Imports, Turkish Lira Rallies

Turkey Doubles Tariffs on some US Imports, Turkish Lira Rallies

The currency drop is particularly painful for Turkey because it has accumulated a high debt in foreign currencies. The Turkish lira has dropped to record lows in recent weeks , having fallen some...

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Markets Right Now: US stocks move broadly higher

Markets Right Now: US stocks move broadly higher

The Turkish lira has nosedived in value in the past week over concerns about Erdogan's economic policies and after the United States slapped sanctions on Turkey angered by the continued detention ...

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Home Depot's second-quarter sales rebound, shares rise

Home Depot's second-quarter sales rebound, shares rise

The performance comes at a time when sales of new USA single-family homes fell to an eight-month low in June and data for the prior month was revised sharply lower, the latest indications that the hou...

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Monsanto Roundup lawsuit: Jury awards $289 million to cancer patient

Monsanto Roundup lawsuit: Jury awards $289 million to cancer patient

Australia's National Farmers' Federation has rejected the finding of a USA court that the weedkiller Roundup causes cancer, saying it set a "reckless precedent" that could harm agriculture. Once, when...

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Brexit Britain: Unemployment Lowest in 40 Years, Wages Up, EU Migrants Down

Between May and July 2018, there were 829,000 job vacancies in the country - more than 50,000 more than the previous year. The high number of vacancies suggests that the number of Brits in employmen...

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Turkey Doubles Tariffs On U.S. Imports Over 'Attacks' On Its Economy

The decision came a day after President Recep Tayyip Erdogan said Turkey would boycott U.S. electronic goods, singling out iPhones. The move comes amid increased tension between the two North Atlant...

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What's next for Turkey after lira slump?

What's next for Turkey after lira slump?

The fallout has been sparked by a number of issues - including Turkey's detention of American pastor Andrew Brunson - while Ankara has demanded the extradition of a Turkish cleric who is blamed by M...

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Independent Sen. Bernie Sanders wins Vermont Democratic nod

Independent Sen. Bernie Sanders wins Vermont Democratic nod

Although she favors similar policy proposals as the self-described Democratic socialist Sanders, Adeluola has accused the 76-year-old senator of being "corrupted" after spending nearly four decades in...

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United States official warns of more actions against Turkey if pastor not freed

United States official warns of more actions against Turkey if pastor not freed

He also said on Friday that he had ordered to double United States tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively. He added that US electronics would ...

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Retail inflation slows to 9-month low at 4.17%

Retail inflation slows to 9-month low at 4.17%

The rise in global fuel prices has led to a continuous increase in inflation in the fuel and light segment, Mr. Pant added. The lower inflation has surprise many, considering the heavy rains. Whilst...

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Nvidia Reveals Turing Architecture, Teases GPU Reveal At Gamescom

Nvidia Reveals Turing Architecture, Teases GPU Reveal At Gamescom

The NVIDIA Quadro RTX series of cards are designed for user by designers, artists and animators and other creative professionals who might be working in areas such as computer animation or videogame...

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Turkey's Erdogan Threatens Boycott of US Goods

Turkey's Erdogan Threatens Boycott of US Goods

The United States slapped financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey over his continued detention . The Trump administration has been deman...

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Bitcoin's Price Falls Below $6K to Near 2018 Low

Bitcoin's Price Falls Below $6K to Near 2018 Low

The decline coincided with concerns that investors are " cashing out " the digital currency to cover business expenses, Bloomberg reported . Bitcoin dropped below $6,000 and dozens of smaller d...

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Omarosa's White House recordings fuel Trump woes

Omarosa's White House recordings fuel Trump woes

Washington Post Reporter Sean Sullivan joined CBSN to discuss the fallout. The publication, citing "a Trump ally", says that it is the campaign's contention that Omarosa's 2016 non-disclosure agre...

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Chinese EV startup Nio files for $1.8 billion IPO

Chinese EV startup Nio files for $1.8 billion IPO

While Nio is now focused on the Chinese market, it plans to expand elsewhere, including in the United States where it has already established a local division. The company had a net loss of $502.6 mil...

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Tesla board forms independent group to explore going private

Tesla board forms independent group to explore going private

Musk said that since his Twitter post on the possibility of a deal the managing director of the Saudi fund had expressed support for proceeding subject to financial and other due diligence. If and whe...

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Trump administration pressure on Tehran forces Iran to start selling discounted oil

Trump administration pressure on Tehran forces Iran to start selling discounted oil

Brent crude futures LCOc1 dipped 20 cents, or 0.3 percent, to settle at $72.61 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 declined 43 cents to settle at $67.20 a barrel, with a 0.7 ...

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China Printing Foreign Currencies on Massive Scale, Including India

China Printing Foreign Currencies on Massive Scale, Including India

Various employees at currency note manufacturing units across the country claimed that a year ago was slow in terms of production and output, with numerous plants resorting to printing driving license...

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What's behind the current US-Turkey spat?

What's behind the current US-Turkey spat?

USA stocks dropped on Monday as global jitters due to Turkey's plummeting currency spread to Wall Street . The fall out has showed no signs of abating as United States president Donald Trump...

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Russian Federation may ditch dollar in oil trade as it is too risky

Russian Federation may ditch dollar in oil trade as it is too risky

Kremlin officials say this idea needs work before being implemented . Between March and May, Russia's holdings in U.S. Treasuries fell by $81 billion to about $15 billion. Payments in national curre...

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Turkey's market collapse deepens as it takes first steps to ease crisis

Turkey's market collapse deepens as it takes first steps to ease crisis

The lira has been hammered by worries over President Erdogan's handling of the economy, a refusal to raise interest rates to curb rampant inflation and worsening ties with the US. Albayrak als...

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A sixth firefighter killed battling California wildfires

A sixth firefighter killed battling California wildfires

The Ranch Fire is 62 percent contained as of Monday morning. "Now we can focus on the challenge of the Ranch Fire", he said. The fire became the largest in state history last week, passing the T...

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Asian Markets Digest Lira Crisis, Weak Chinese Data

Echoing his father-in-law, President Recep Tayyip Erdogan , whose policies and rhetoric have hurt confidence in the Turkish market, Albayrak called the lira's weakness an "attack". "Some close the ...

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India denies China printing currency claim amid social media row

India denies China printing currency claim amid social media row

The Centre denied accusations that a Chinese company has been granted a contract to print Indian currency. According to a report by the South China Morning Post , China is printing currencies for sev...

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Erdogan accuses U.S. of seeking to stab Turkey 'in the back'

Erdogan accuses U.S. of seeking to stab Turkey 'in the back'

All in all, the total share of euro area exports to Turkey was 2.4% in 2016 This means that if Turkey's economy shrank by 10% (while not our forecast it is not by any means impossible - after al...

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Wrangler Owner VF Plans to Spin Off Jeans Business

Wrangler Owner VF Plans to Spin Off Jeans Business

In Denver, VF will focus on its North Face and Vans brands. VF Corp.is doubling down on its shoe and outdoor business, spinning off its storied denim brands into an independently traded company....

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Ontario will rely on private sector to sell recreational cannabis

Ontario will rely on private sector to sell recreational cannabis

The shift could be good news for cannabis companies eager to enter a potentially significant retail market for pot in Ontario, but it could also leave the province open to some growing pains so close ...

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Turkey moves to calm market, opens probe amid lira fall

Turkey moves to calm market, opens probe amid lira fall

Economists say the lira's fall is due to worries about Erdogan's influence over the economy, his repeated calls for lower interest rates, and worsening ties with the United States over the detenti...

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Investigators find Seattle flight data recorder

Investigators find Seattle flight data recorder

An employee of Horizon Airlines for more than three years, Mr Russell had clearance to be among aircraft at Seattle-Tacoma International Airport, but he was not a licenced pilot. Other than Russell, n...

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Stocks drop on Monday as Turkey lira crisis continues

Stocks drop on Monday as Turkey lira crisis continues

One such official is Mathew Palmer, who was expected to begin his new assignment soon as US Deputy Assistant Secretary of State in the Bureau of European Affairs who will be responsible, among other...

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Supreme leader of Iran purges 'corrupt' bankers

Supreme leader of Iran purges 'corrupt' bankers

The restrictive measures had been lifted under the historic Joint Comprehensive Plan of Action (JCPOA), but Washington unilaterally withdrew from the landmark deal despite worldwide condemnation, incl...

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Doug Field Returns to Apple from Tesla for Project Titan

Doug Field Returns to Apple from Tesla for Project Titan

Last year, he was put in charge of the electric automaker's aggressive drive to ramp up production of the Model 3 . He previously worked at the firm on engineering Apple's Mac computers, alongsid...

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Saudi Arabia's PIF has shown no interest in bankrolling Tesla buyout

Saudi Arabia's PIF has shown no interest in bankrolling Tesla buyout

On Tuesday he tweeted that he had secured funding to buy all Tesla shares and take the company private. Musk said the company will be taken private at $420 per share. The discussions failed to p...

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Turkey takes action in bid to curb currency crisis

Turkey takes action in bid to curb currency crisis

The MSCI world equity index, which tracks shares in 47 countries, was down 0.5 per cent on Monday and 1.6 per cent since Friday's open as the Turkish lira plunged to a record low, forcing the countr...

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Ticketmaster is shutting down Seatwave

Ticketmaster is shutting down Seatwave

Ticketmaster, one of the most popular websites to buy tickets to events, says that it has taken the action to help exploited fans. Keith English, Managing Director of Ticketmaster Ireland, said: "Cl...

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