Tuesday, 14 August 2018
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Tesla CEO Musk accused in lawsuit of defrauding shareholders

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Investors and analysts viewed PIF as a natural financing partner. Market volatility created by short-sellers Musk, who owns one-fifth of the company, is really not a "Wall Street hanger-oner", but owing to Tesla's capital investment requirements, he has been forced to live with the need to have a Wall Street presence. Read More »

Cal Fire: Utah Firefighter Dies Battling Ranch Fire

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The Holy Fire was 52% contained by Monday, up from 10% on Friday. Cal Fire has announced the Ranch Fire as the largest in California history at over 287,000 acres. "We are here for you", he said. A volunteer fire chief said that two weeks ago, Clark sent him a message saying, "The place is going to burn". It is still at 61 percent containment at 61 percent containment at over 201,000 acres. Read More »

Asian markets mixed after Wall St falls on Turkey jitters

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The dispute has severely hit the Turkish currency which has been in the free fall since Friday. The European Central Bank is understood to be anxious about the exposure of eurozone banks to Turkey , with Spain's BBVA, Italy's Unicredit and France's BNP Paribas thought to be in the firing line. Read More »

Iran's supreme leader says no war or talks with U.S.

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This is the first time Iran's supreme leader has commented. "I do not call it betrayal but a huge mistake in management", Iranian state TV quoted Khamenei as saying, in his first reaction to the reimposition of U.S. Iran's rial currency has lost about half of its value since April in anticipation of the renewed USA sanctions, driven mainly by heavy demand for dollars among ordinary Iranians trying to protect their savings. Read More »

Turkey taking action to ease market concerns

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On Sunday, he said the lira's free-fall was the result of a plot and did not reflect Turkey's economic fundamentals. " MASAK started an investigation into people and institutions that spread fake news , such as those claiming that "the state will intervene to convert foreign exchange in accounts into Turkish lira" and "it will fix dollar exchange rate" by ditching floating rate policy, which is a main pillar of the free market", Treasure and Finance Ministry Press Undersecretary ... Read More »

Tech stocks take Nasdaq, S&P close to record

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With the second-quarter earnings season winding down, 79 percent of S&P 500 companies have topped estimates. The S&P financial index .SPSY fell 1.4 percent, among the biggest drags on the S&P 500 . Michael Kors gained 7.5 percent after the fashion house topped Wall Street forecasts for quarterly profit and revenue and raised its full-year earnings forecast. Read More »

Chemical giant Monsanto ordered to pay cancer damages

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Dewayne Johnson , a 46-year-old Bay Area resident battling non-Hodgkins lymphoma, won the landmark judgement Friday (Aug. 10). "'We are sympathetic to Mr. He is among more than 5,000 similar plaintiffs across the US. A Californian jury said Monsanto should have warned users about the dangers of its Roundup and RangerPro weedkillers. Read More »

Horizon Air employee had higher-level security clearance, specialized training

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They intercepted the plane near Joint Base Lewis-McChord. Earlier in the flight, the man says: "This is probably, like, jail time for life, huh?" It's going to disappoint them to hear that I did this ... That's why the F-15s got scrambled to deal with this issue, and it seems highly likely that they would have fired on the plane if it made any aggressive moves towards airports or cities. Read More »

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

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The percentage also beat the Reuters poll of 10%. The US imports considerable quantities of Chinese active pharmaceutical ingredients (bulk drugs) for the production of finished dosage (formulations). Those nations have criticized Trump's tactics, but they share USA complaints about Chinese industrial policy and market barriers. The list identifies OCC and all other recovered fiber materials among the product codes that would be hit with the 25 percent duty. Read More »

Tesla shares slip below level before Musks going private tweet

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The SEC and Tesla declined Business Insider's requests for comment. The initial tweet sent the stock market in a frenzy, as Tesla stocks made a gradual rise. SEC enforcement attorneys in San Francisco have begun gathering information on Tesla; however, this could end up leading to nothing. Some of the fervor for a Tesla buyout faded Wednesday. Read More »

Trump's new tariffs on Turkey are actually benefiting Russian Federation

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The currency slid almost 8 percent in relation to the dollar to a record low of 6.59 shortly after Trump announced the increase on metals duties on Twitter . President Erdogan has pressured the central bank to maintain low interest rates by refraining from implementing much-needed hikes. Turkey's exceptionally large current account deficit makes the country's potential to fall into a severe debt crisis even greater. Read More »

Oil prices up as U.S. sanctions on Iran kick in

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Refiners in China are unlikely to increase purchases of American crude even after the Ministry of Commerce removed oil from its list of U.S. goods slated for tariffs, according to Michal Meidan, an analyst with Energy Aspects Ltd. and Iran as Tehran has threatened to block the Strait of Hormuz, an important sea route through which tankers ship more than 30 per cent of crude oil to the worldwide market, in retaliation to the sanctions. Read More »

Iranian president tells North Korea that U.S. is ‘untrustworthy’

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Anyone doing business with Iran will NOT be doing business with the United States . Heiko Maas said ongoing unrest in Iran - worsened by the sanctions imposed on Monday - could 'boost radical and fundamentalist forces'. Meanwhile, Iranian Foreign Minister Mohammad Javad Zarif said his country will not oppose third-country mediation between the USA and Iran. Netanyahu also expressed hope that the European Union would follow the American example and would join Trump's efforts to reverse the ... Read More »

Buck a beer by Labour Day weekend, Doug Ford announces

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The province's move to try and roll back prices at a time when the cost to produce beer is at an all-time high is puzzling to many across the province. "When you go out and you buy your case of beer for weekend, you're not going to be paying the same price; you're going to be paying less". Taxes on alcohol sales in Canada have been steadily increasing for decades, with the most recent hike happening in April 2018 when the federal government raised taxes on local and imported beer by two per ... Read More »

China hits back at USA with $60bn tariff threat

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China's finance ministry said duties ranging from 5 per cent to 25 per cent would be levied on 5,207 kinds of imports from America if the United States implemented its proposed taxes on another $200bn of Chinese goods. Washington imposed 25 per cent duties on $34 billion of Chinese goods on July 6 in response to complaints Beijing steals or pressures companies to hand over technology. Read More »

Barack and Michelle Obama start hiring for their Netflix project

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It is a commemorative holiday rather than a state holiday, meaning that schools and government workplaces will stay open. "Happy birthday Mr. President", wrote one user. Bruce Rauner signed the bill into law in 2017. "I don't think it should be a formal holiday with paid, forced time off, but I think it should be a day of acknowledgment and celebration". Read More »

Dead fetus found on commercial plane landed in NY from Charlotte

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The fetus was believed to be five or six months along. The fetus was found inside the plane's lavatory early Tuesday morning and authorities were called around 6 a.m., according to WPIX . The incident did not have any "major impact" on the airline's morning operations, according to the station. "We will release cause and manner of death upon determination", a spokesperson with the medical examiner's office said. Read More »

Tesla trading halted after Elon Musk tweets about taking company private

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Tesla CEO Elon Musk , in true Elon Musk fashion, took to Twitter to think out loud about his electric auto business. While no final decision has been made, he suggested a buyout price of $420 per share. By going private, Tesla will lose that convenient source of financing, something that could cause massive headaches if the company continues to burn through cash as much as it has in recent years, Mr Ramsey said. Read More »

Facebook wants banks to share your personal finances

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And according to the Wall Street Journal-which first reported on Facebook's plans on Monday-the social media behemoth isn't the only tech company that wants access to Americans' financial data. Facebook has been trying for a long time to make its Messenger app a hub for commercial activity. The company is aiming to boost user engagement, particularly with its Messenger service, after Facebook lost more than $120 billion ins market value in a single day earlier this summer. Read More »

TMZ: NASCAR CEO Brian France arrested for DUI in NY

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France was held overnight in The Hamptons before being released just after 9 a.m. ET on Monday after his arraignment. "We are aware of an incident that occurred last night and are in the process of gathering information", it read. He stepped down as CEO so his son Bill France Jr . could take over. His lawyer referred reporters to a NASCAR statement on the matter. Once he was transported to a nearby police station, France was booked on DUI and "possession of a controlled substance in ... Read More »

President Donald Trump arrives in OH for rally

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President Trump speaks at a rally in support of congressional hopeful Troy Balderson in Lewis Center, Ohio. In a late-night tweet, Trump derided the intelligence of one of the nation's most prominent African-American men. Balderson, who polls have shown faces a tough battle against Democrat Danny O'Connor in a district where the GOP traditionally has dominated, was introduced by Trump to the crowd as "really smart" and a "really hard worker". Read More »

Crude palm oil futures gain 0.27%

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A general view shows the Bangchak oil refinery in Bangkok, Thailand, October 3, 2017. The price for Brent crude oil, the global benchmark for the price of oil, was down 1.75 per cent as of 9:20 a.m. "The increase in supply from OPEC seems to be real and it's already translating into an overhang in supplies of Brent", Marwan Younes, chief investment officer at commodities fund Massar Capital Management, said. Read More »

Ryanair Says Tomorrow's Strike Of Dublin Pilots Will Go Ahead

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Last night the company tweeted confirmation that pilots based in Belguim and Sweden have announced they will strike tomorrow week, the tenth of August, while unions representing pilots in Germany and the Netherlands have indicated they may strike on that date as well. Read More »

United States jobs growth slows more than expected in July

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Wages have remained in a holding pattern below the highs of the last expansion, despite persistent complaints from employers that they're struggling to find skilled workers and job openings near a record high. With rising gas prices pushing up inflation, Americans actually saw their inflation-adjusted pay decrease in the past year. President Donald Trump's administration has imposed duties on steel and aluminum imports, provoking retaliation by the United States' trade partners, including ... Read More »

China vows to safeguard Iranian nuclear deal

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The Iranian rial has dropped to a record low amid growing concerns about renewed USA sanctions, which kick in on Monday. The oil market has been speculating about how much of Iran's exports could be eroded by the US sanctions, with analysts from BMI Research to Mizuho Securities predicting that China might boost its imports of cheap supplies from the state and offset cuts by other nations. Read More »

RBI rate hike a 'win-win' situation for markets, banks: SBI report

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With expectations of a rate hike nearly entirely priced into the market, investors are mostly focused on what message the Monetary Policy Committee sends on Thursday about its intentions for further increases in borrowing costs. The influential think tank said: "The committee should emphasise the uncertainty (rather than the certainty) of its future policy stance in its communications and its willingness to reverse its decisions". Read More »