• Turkey increases tariffs on some U.S. imports
Turkey increases tariffs on some U.S. imports

While still nominally allies, the USA and Turkey's relationship is continuing to fall apart amid new economic penalties in the continued fight over an American pastor detained in Turkey. Treasury and Finance Minister Berat Albayrak, son-in-law of Erdogan, will speak with about 1,000 foreign investors on Thursday via a teleconference, the private ...

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  • Turkey to boycott USA electronic goods
Turkey to boycott USA electronic goods

The president issued a rallying cry for unity to resist what he has described as an economic war waged by the US. Separately, Russian Foreign Minister Sergey Lavrov, on an official visit to Ankara , said the increased U.S. He urged Turks to sell their dollars and euros to shore up the national currency , and pressed manufacturers to hold back...

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  • Firefighter Killed Battling California's Largest Record Blaze
Firefighter Killed Battling California's Largest Record Blaze

The fatality marks the sixth firefighter to be killed in California's wildfires this year alone. The first fatality has been reported in connection with the largest blaze in California history. Though temperatures had dropped from their triple-digit highs in recent days, they were expected to stay above 90 degrees F (32 C) through Friday. Thr...

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  • Futures rise as Turkish lira rebounds, tech stocks gain
Futures rise as Turkish lira rebounds, tech stocks gain

He did not say when the boycott would start or how it would be enforced. Chief Executive Elon Musk said he was in discussion with Saudi Arabia's sovereign wealth fund and other potential backers of his plan to take the electric carmaker private, but he said financing was not yet nailed down.

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  • Oil Prices Rise As US Sanctions On Iran Tightens Market
Oil Prices Rise As US Sanctions On Iran Tightens Market

BMI Research said oil markets would "struggle for direction, as uncertainty around both the impact on supply from the Iranian sanctions and escalating trade tensions between the United States and China persists". Hedge funds and other money managers reduced their bullish positions in U.S. crude futures and options in the week ending August 7, data ...

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  • Turkey to shun US electronics
Turkey to shun US electronics

Turkish Airlines and Turk Telekom said the advertising boycott would encompass all written, visual and social media, although existing agreements would not be affected. That was a rare Trump understatement, as the two countries face sharp differences on the case of Brunson and other detained Americans, Erdogan's consolidation of power, US support f...

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  • Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low
Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low

The Indian rupee on Tuesday slumped to its record low at 70 to the USA dollar, significantly weaker from its previous close of 68.83 per greenback. Fears over a rise in global protectionist measures, along with a strong United States economy dragged Asia's "worst-performing currency of the year" to a fresh intraday low before recovering by a ...

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  • Elon Musk wants to sell Tesla short shorts
Elon Musk wants to sell Tesla short shorts

More from Bloomberg.com: U.S. They haven't reached any conclusion on whether taking Tesla private is advisable or feasible. "During the meeting, the Managing Director of the fund expressed regret that I had not moved forward previously on a going private transaction with them, and he strongly expressed his support for funding a going private tran...

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  • 'No war, no negotiations with the US'
'No war, no negotiations with the US'

Washington had previously stated Iran's only chance to avoid sanctions would be to accept Mr Trump's offer to re-negotiate a tighter nuclear deal. "Our goal is to punish corrupt economic agents quickly and fairly", Ayatollah Ali Khamenei said on his official website in response to a letter...

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  • Seattle airport reviewing security after plane theft
Seattle airport reviewing security after plane theft

Officials remain unclear how he was able to do so, as he did not have a pilot's license. The man, who was addressed as " Rich " in audio recordings with air traffic controllers, said he didn't want to land at a nearby military base. "The FBI continues to work with our state, local, and federal partners to gather a complete picture of what transpi...

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  • Elon Musk names Saudi wealth fund as Tesla's funding source
Elon Musk names Saudi wealth fund as Tesla's funding source

Saudi Arabia's Public Investment Fund (PIF) is known for its technology investments, including the $45 billion it has spent in SoftBank Group Corp's ( 9984.T ) Vision Fund. That would allow the shorts to buy back the stock at a lower price, return the shares to the lender, and pocket the difference. Tesla was reportedly courted by Japan's Sof...

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  • Wall St slips at open on Turkey turmoil
Wall St slips at open on Turkey turmoil

The Russell 2000 index of smaller-company stocks picked up 4.01 points, or 0.2 percent , to 1,690.89. The Nasdaq gained 0.3 per cent for the week after strong gains in some technology shares. Bookings Holdings (BKNG.O) fell 5.9 percent and weighed the most on the S&P and the Nasdaq after it forecast third-quarter profit below expectations.

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  • Homebase reviewing weedkillers after USA cancer lawsuit
Homebase reviewing weedkillers after USA cancer lawsuit

Monsanto, which is facing up to 5,000 similar lawsuits across the USA, said it would appeal against the verdict. But that issue was sidestepped during the trial, as Johnson's lawyers argued that his cancer was caused by the combination of glyphosate and other chemicals present in Roundup .

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  • Ryanair pilots strike in Germany, 4 other countries
Ryanair pilots strike in Germany, 4 other countries

Germany will be worst hit by the industrial action , with 250 flight cancellations at 10 airports. "Had I not checked, I would have arrived at the airport only to find my flight being cancelled". "In its letter to VC dated last week, Ryanair management confined itself to repeating and summarising what they considered to be the most relevant...

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

Trump tweeted that the latest tariff decision came as Turkey's currency , the lira , "slides rapidly downward against our very strong Dollar". The currency's drop - 41 percent so far this year - is a gauge of fear over a country coming to terms with years of high debt, global concern over Erdogan's push to amass power, and a souring in rel...

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  • USA to Increase Tariffs on Turkish Aluminum, Steel
USA to Increase Tariffs on Turkish Aluminum, Steel

The Turkish lira dropped as much as 18 per cent at one point after Mr Trump's announcement - the biggest one-day fall since a 2001 financial crisis in the country. The Turkish president took aim at the U.S. in his address, claiming "some countries have engaged in behaviour that protects coup plotters and knows no laws or justice".

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  • TROUBLE IN TURKEY: Currency PLUNGES 20% After Trump DOUBLES Metal Tariff
TROUBLE IN TURKEY: Currency PLUNGES 20% After Trump DOUBLES Metal Tariff

But analysts say that while there may be losses at banks, Turkey's economic problems do not pose a big threat to Europe or other big economies, like the United States. President Erdogan's famed reluctance to tolerate higher interest rates and the timidity of the CBRT in going against him has left bondholders with dwindling value due to persistent...

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  • United States to impose sanctions on Russian Federation over nerve attack in UK
United States to impose sanctions on Russian Federation over nerve attack in UK

On Wednesday, Russia's Kommersant daily published excerpts from another piece of draft U.S. legislation which proposes a ban on United States citizens purchasing Russian sovereign debt as well as steps against the country's biggest banks as well as its oil and gas sector, a key driver of the economy.

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  • China in fresh $16bn USA tariffs
China in fresh $16bn USA tariffs

The world's two biggest economies are locked in a trade dispute over Washington's charges that China uses predatory tactics in a drive to supplant US technological supremacy. There is a mandatory 60-day comment period for industries to ask for exemptions from the tariffs. Beijing has called on United States officials to be "cool headed", but ...

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  • NYC moves to rein in Uber with cap on ride-hail vehicles
NYC moves to rein in Uber with cap on ride-hail vehicles

Uber said the Council's legislation would make rides more expensive and less reliable. The package of bills approved Wednesday by the New York City Council calls for, among other things, a one-year freeze on new for-hire vehicle licenses as the city explores ways of reducing traffic congestion.

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