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Turkey raises tariffs on US-origin products

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Turkey has retaliated by announcing Wednesday that it will increase tariffs on certain USA products, including on cars, rice, alcohol, coal and cosmetics. Since January, the Turkish lira has lost more than 34% of its value against the dollar, pushing up the price of everyday items. Erdogan , speaking to political supporters in the Black Sea resort of Trabzon, said, "The aim of the operation is to make Turkey surrender in all areas, from finance to politics". Read More »

U.S. and China meet for trade talks

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Wang Shouwen, vice-minister of commerce, will lead a delegation to the United States at the end of August to discuss bilateral trade issues with a team led by David Malpass, secretary of treasury for global affairs, the Chinese Commerce Ministry said in a statement today. Read More »

Turkey hits back at USA with tariff hikes on key products

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A list published in Turkey's official Gazette on Wednesday raised tariffs on tobacco products to 60 percent, spirits to 140 percent and passenger cars to 120 percent. Erdogan has repeatedly told Turks to exchange gold and hard currency into lira, saying the country was involved in an economic war with enemies. According to local reports, it was boosted after the Turkish banking regulator cut the amount of funds banks can use for currency swap trading, limiting the possibilities for ... Read More »

Turkey increases tariffs on some USA imports, escalating feud

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The banks were capable of managing the volatility, and there had been no major flow of cash out of deposits lately, he added. Hasan Koni, who teaches worldwide relations at Istanbul Kultur University, thinks breaking ties with the United States and North Atlantic Treaty Organisation would place Turkey under Moscow's sway. Read More »

Turkey hikes tariffs on imports of several United States products

According to the sources who spoke on condition of anonymity, Merkel also underlined her country's concern for a strong Turkish economy, repeating her Monday comments that Turkey's economic prosperity "serves Germany's interests". "We have other partners and alternative markets", said Turkish Trade Minister Ruhsar Pekcan. Investor attention was focused on a conference call which Finance Minister Berat Albayrak will hold at 1300 GMT to reassure global investors. Read More »

Retail inflation eases to 4.17% in July as food prices decline

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Earlier this month the Bank of England forecast inflation would rise to 2.6% in July before falling back. India's retail inflation dropped to a nine-month low of 4.17% in July, from 4.92% a month ago, on the back of softening food prices and a favourable base, according to data released on Monday by the Central Statistics Office. Read More »

Qatar pledges investment in Turkey amid crisis

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The case now lies at the heart of a bitter row between North Atlantic Treaty Organisation allies Turkey and United States, who have been growing apart for years over a series of disagreements on Syria, their perception of security threats and defense deals. Read More »

Markets rattled as Turkish lira dives to record lows

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TURKISH TURMOIL: Investors are uneasy over whether Turkey's government can cope with a plunging currency , a diplomatic spat with Washington and other problems. It was last at 6.8450, having found just a sliver of support when Turkish Finance Minister Berat Albayrak said the country had drafted an action plan to ease investor concerns and the banking watchdog said it limited swap transactions. Read More »

Erdogan says Turkey to 'boycott' United States electronic goods

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Trump asked for Erdogan to release a U.S. pastor , and Erdogan said he'd look into it, the report says. Brunson, 50, was indicted by a Turkish court on charges of having links with the Kurdistan Workers' Party (PKK) militant group and the movement of the US-based opposition cleric Fethullah Gulen, whom Ankara accuses of having masterminded the July 2016 coup attempt against President Recep Tayyip Erdogan. Read More »

Primaries in Connecticut, Vermont, Minnesota and Wisconsin

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Vermont Democratic Party gubernatorial primary candidate Christine Hallquist, a transgender woman, poses on College Street in Burlington, Vermont, U.S., August 8, 2018. His approval among Vermonters fell 18 points to 47 percent while his disapproval doubled to 42 percent. It was also enough to knock Scott out of his place in the top 10 - which he had shared with popular blue-state GOP Govs. Read More »

Oil prices edge up on Iran sanctions, but trade tensions drag

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US West Texas Intermediate ( WTI) crude futures were up 32 cents, or 0.5 percent, at $67.52 per barrel. Oil prices moved sharply lower on Monday after data suggested inventories at the US crude delivery hub rose in the latest week, compounding worries that troubled emerging markets and trade tensions will dent the outlook for fuel demand. Read More »

Turkey: US won't achieve aims through sanctions

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Investors are also anxious about the effects of the dispute between two North Atlantic Treaty Organisation allies. "We will impose a boycott on USA electronic products", Turkey's President Recep Tayyip Erdogan said in a televised speech . Read More »

Goldman, Silver Lake Advice Tesla On Going Private Plan

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Musk has spoken with confidence about the deal's certainty, announcing last week that investor support was "confirmed" and funding was "secured". Musk said in his Monday statement that he was still in talks with the Saudi fund but was also having discussions with other investors because he wanted to "continue to have a broad investor base". Read More »

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

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 »