Money

Qatar promises $15 billion investment in Turkey

Qatar promises $15 billion investment in Turkey

The plight of the American pastor, Andrew Brunson, has dominated the Trump administration's strategy toward its North Atlantic Treaty Organisation ally, even as the dispute roiled currency markets. Albayrak, a 40-year-old former company executive with a doctorate in finance, said Turkey would not hesitate to provide support to the banking sector. Read More

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Death toll in Italian bridge collapse climbs to 39

Death toll in Italian bridge collapse climbs to 39

A fire service spokesperson told AFP that the bridge had mostly fallen on rail tracks 100 metres below and that cars and trucks had fallen with the rubble. The highway operator said work to shore up the foundation of the bridge was being carried out at the time of the collapse, adding that the bridge was constantly monitored. Read More

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World equities slip on Turkey currency woes

World equities slip on Turkey currency woes

Turkish President Recep Tayyip Erdogan this morning claimed the country was under economic "siege", accusing the USA of trying to "stab it in the back". "In a worst- case scenario involving total loss of local equity and any intergroup funding, we see a range of circa one-12 per cent of group equity losses for these banks", it said in a note. Read More

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U.S. stocks close mixed amid trade tensions

U.S. stocks close mixed amid trade tensions

The industrial index fell 0.3 percent as a drop in shares of trade-sensitive stocks such as Boeing and Caterpillar dragged. The S&P financial index.SPSY was down 0.6 percent. Data on Friday showed USA consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures. Read More

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Chinese state media labels Trump's trade policies 'extortion'

Chinese state media labels Trump's trade policies 'extortion'

The Trump administration ramped up pressure for trade concessions from Beijing this week by proposing a higher 25 per cent tariff on $270 billion worth of Chinese imports . President Donald Trump will keep pressing China for trade concessions, a top White House economic adviser said Friday, as the Asian nation continued the tariff escalation by announcing further retaliatory actions against USA goods. Read More

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Tesla buyout would need to go short on leverage

Tesla buyout would need to go short on leverage

But even for him, this was stunning. At $420 a share, Tesla would have a market cap of around $71 billion. It's not uncommon for trading in a stock to be halted in the wake of unexpected or unsettling news. Tesla said in a regulatory filing in 2013 that investors interested in keeping up with Tesla should follow Musk's account. Despite its challenges, Tesla has remained a favourite among many investors, partly due to their faith in Mr Musk, who made his initial fortune as a co- founder ... Read More

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China threatens new tariffs on $60 bn worth of US goods

China threatens new tariffs on $60 bn worth of US goods

China's proposed import tax is the latest in a tit-for-tat trade war between the two countries, which started in March when Trump signed a presidential order imposing tariffs on at least $50 billion in Chinese goods. The Chinese government did not specify what types of American products would be affected or when those tariffs would take effect. Second, the US wants China to purchase at least $100 billion more in US goods, mostly from Midwest US agribusiness and manufacturing. Read More

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Oil turns positive as USA inventories seen lower

Oil turns positive as USA inventories seen lower

Futures fell for the third day in NY, losing as much as 1.1 per cent to hit their lowest level since June 22, but USA government's data showed a surprise gain in nationwide stockpiles on Wednesday. China has said it plans to impose tariffs on liquefied natural gas, raising concerns that it could also impose tariffs on oil, Kilduff said. Meanwhile, trade war concerns have resurfaced again on reports the Trump administration is planning to propose a 25% tariff on goods worth over $200 billion ... Read More

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RBI hikes key rate 2nd time in two months

RBI hikes key rate 2nd time in two months

The reverse repo rate or the rate at which RBI borrows from commercial banks stands adjusted to 6.25 per cent. "While an interest rate rise is positive news for people living on their savings income, or holding pensions and investments, it may prove to be the tipping point for those in financial difficulty or struggling with debt", said Richard Haymes, head of financial difficulties at credit data firm TDX Group. Read More

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Protests continue in Iran for fifth day as United States sanctions loom

Protests continue in Iran for fifth day as United States sanctions loom

It also said the U.S. military was concerned about Iran's ability to disrupt shipping lanes and cut off the Strait of Hormuz, a critical waterway through which millions of barrels of oil pass on day-to-day basis. Rouhani's apparent threat earlier in July to disrupt oil shipments from neighboring countries came in reaction to the looming USA sanctions and efforts by Washington to force all countries to stop buying Iranian oil. Read More

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Apple Becomes First Company to Reach $1 Trillion Worth

Apple Becomes First Company to Reach $1 Trillion Worth

During the session, Apple's stock market value reached as much as $1.006 trillion. Apple has sold more than a billion iPhones. "The five-year chart for all three companies show pretty steady upward climbs, but Alphabet's gains only tally 116 per cent versus almost 500 per cent for Amazon and 220 per cent for Apple ", Robert Martin of InvestorPlace Media wrote. Read More

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OH offers sales tax holiday this weekend

OH offers sales tax holiday this weekend

Starting Friday, Florida's Back-to-School Sales Tax Holiday begins. The sales tax holiday runs through Sunday, August 5, and all retailers in the state are required to participate. The sales tax holiday weekend in Florida runs August 3-5, 2018. 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. Read More

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Apple's Market Cap Hits $1 Trillion

Apple's Market Cap Hits $1 Trillion

Apple's final push to the $1 trillion mark came on the back of Tuesday night's fiscal-third-quarter earnings report - one that encouraged Wall Street's pros and individual investors alike by most measures. Apple's share price rose to an incredible $207 per/share earlier this morning. Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30. Read More

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Tesla hit major Model 3 production milestone in Q2 2018

Tesla hit major Model 3 production milestone in Q2 2018

Tesla is focusing on increasing production of its affordable Model 3 electric auto. Tesla is planning to increase Model 3 production to 6,000 per week for the next few quarters and then reach 10,000 per week "as fast as we can". That leaves the company with $2.2 billion cash compared with $3.3 billion at the end of 2017. We're adding a "party & camper mode" soon to S/3/X, so your auto can maintain air flow, temp, selective lights, music & power devices for 48 hours or more while parked. Read More

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Apple inches closer to $1T market cap after record-setting third quarter

Apple inches closer to $1T market cap after record-setting third quarter

Apple moved 41.3 million iPhones in its third quarter, which was less than the 41.79 million Wall Street was expecting - but blew past the predicted $693.59 average selling price for a smartphone. The company said sales for its fiscal fourth quarter, which would include early sales of its latest devices, would be between $60 and $62 billion. FILE PHOTO: A customer uses the new face-recognition software on the new iPhone X inside the Apple Store in Regents Street in London, Britain, ... Read More

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Twitter Shares Plunge 16% After User Numbers Slip

Twitter Shares Plunge 16% After User Numbers Slip

Twitter's user woes are similar to those of Facebook Inc., which also has been plagued by manipulation, robot accounts and unrest about the growing influence of social media in the culture. Twitter again touted daily active user growth. Twitter has purged users and shareholders alike. The US grew just 10%, and brought in $US367 million. Read More

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American farmers want trade over aid

American farmers want trade over aid

The two leaders plan to discuss USA tariffs on aluminum and steel that Trump imposed in May as well as Trump's threat to extend duties on European vehicle imports. He says past leaders allowed the USA trade deficit to balloon and complains: "They surrendered". While the USA claims the retaliation was "illegal", the Trump administration has acknowledged it is doing damage to American farmers and announced Tuesday it will provide up to $12 billion in aid to farmers hurt by trade tariffs. Read More

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European Union and United States kiss and make up on trade

European Union and United States kiss and make up on trade

Three of the world's biggest vehicle makers have claimed that trade policy changes are having a negative impact, with Ford, General Motors and Fiat Chrysler Automobiles all reporting lower profit or revenue forecasts. "We will therefore work closely together with like-minded partners to reform the WTO and to address unfair trading practices, including intellectual property theft, forced technology transfer, industrial subsidies, distortions created by state owned enterprises, and ... Read More

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Facebook reports slower-than-expected 2Q revenue growth

Facebook reports slower-than-expected 2Q revenue growth

Facebook's daily active users didn't grow at all in the United States, its most lucrative ad market, and the social network actually lost 3 million DAUs in Europe as a result of new privacy regulations. Monthly active users were still up by 11% year over year to 2.23 billion, as were daily active users, at 1.47 billion. The social network still holds one of the world's most valuable sets of data on what people are interested in, and makes that audience easily available to advertisers. Read More

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China to invest $15 billion in South African economy

China to invest $15 billion in South African economy

Ramaphosa will host Xi and the leaders of Brazil, Russia and India at a summit of the BRICS group of emerging economies in Johannesburg later this week, where he will be looking to secure further investment pledges. Analysts say USA trade policy could give the group renewed objective. The two leaders took the opportunity to "strengthen the comprehensive strategic partnership" between the two Brics nations as they signed several agreements and memorandums of understanding "intended to deepen ... Read More

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Mega Millions jackpot surges to $493 million

Mega Millions jackpot surges to $493 million

Tickets must be purchased by 10 p.m. ET on Tuesday to be eligible for that night's 11 p.m. ET drawing. The second-highest jackpot of $648 million went to two winners in California and one in Georgia on December 17, 2013. The jackpot was last won in OH on May 4th. Twenty-two jackpots have been won in the month of July since the game began in 2002. The record jackpot of $656 million was won on March 30, 2012. Read More

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