Finance

Brunson, a 50-year-old evangelical pastor from Black Mountain, North Carolina, is being held on charges related to terrorism. Both Brunson and top United States officials say the accusations are false. The recent rebound in the Turkish currency came after Qatar announced a $15 billion support package and the country's banking regulator moved to limit the amount of the local currency banks can swap for foreign currencies with counterparts.
  • Turkey must ensure independence of central bank: Angela Merkel

    Turkey must ensure independence of central bank: Angela Merkel

    Finance

    Dmitry Peskov , the Kremlin spokesman, told a daily conference call that they will discuss Ukraine and Syria, as well as "bilateral trade ties", "large worldwide commercial projects", Nord Stream-2 and other issues. and several eastern European countries. It will carry some 55 billion cubic meters per year (Bcm/y) of gas to European customers, bypassing the traditional Russia-to-Europe route via Ukraine.
  • Lavrov: Syria has the right to attack terrorists

    Lavrov: Syria has the right to attack terrorists

    Finance

    Turkish officials say they're on board for the idea, with President Erdogan saying Turkey is already prepared to conduct all trade with China, Russia, and Ukraine through their respective currencies. On Monday, the Kremlin said that Russian Federation favoured bilateral trade with all countries in their national currencies, rather than the dollar, but that the idea needed detailed work before being implemented.
  • Detained US pastor in Turkey appeals for release 46min

    Detained US pastor in Turkey appeals for release 46min

    Finance

    The Turkish lira has nosedived over the past week amid concerns over President Recep Tayyip Erdogan's ability to deal with the turmoil and a diplomatic spat with the United States. Adding to overnight gains, the dollar last traded up 0.1 percent at 111.25 yen JPY=. Why is Erdogan mad at the United States? Conventional economic wisdom says that one way to calm anxious financial markets and slow inflation would be to raise interest rates.
  • U.S., China to Resume Trade Talks as Tariffs Bite

    U.S., China to Resume Trade Talks as Tariffs Bite

    Finance

    Trade talks will be held late August. China and the USA reached a modest breakthrough in their standoff over trade, saying they will hold lower-level talks later this month on the spiraling dispute. Washington has also lined up an additional $200 billion in Chinese imports and US President Donald Trump said he could raise tariffs on those products to 25 percent instead of the previously touted 10 percent.
  • Wall Street gains on earnings, recovery in bank stocks

    Wall Street gains on earnings, recovery in bank stocks

    Finance

    However shares of the home improvement chain - the first of the major brick-and-mortar retailers to post second-quarter earnings - slipped 0.5 percent. Adding to the day's bearish tone for metals and for stocks was the US dollar. The Nasdaq composite gained 44 points, or 0.6 percent, to 7,863. In terms of the foreign exchange liquidity management, lenders, among other measures, will be able to borrow FX deposits in one-month maturity in addition to one-week maturity as the Central Bank ...
  • Turkish lira rebounds after Qatar pledges $15 billion

    Turkish lira rebounds after Qatar pledges $15 billion

    Finance

    The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a USA pastor, as Qatar pledged $15 billion in investment to Turkey , supporting a rise in the Turkish lira .
  • Bitcoins Remains Unconvincing But Hits Dominance Milestone Over The Weekend

    Bitcoins Remains Unconvincing But Hits Dominance Milestone Over The Weekend

    Finance

    Bitcoin gained 1.24% on Sunday, following on from Saturday's trend bucking 1.5% rise, to end the week down 10.2% at $6,310.1. The world's most well-known cryptocurrency fell below the $6,000 threshold for a time being this morning. Also, with loads and loads of ICOs being run on the ETH network and with many of them looking to unwind their positions worth millions of dollars, that has only served to put pressure on the prices even more over the last few weeks.
  • Family's narrow escape after being caught up in Italian bridge collapse

    Family's narrow escape after being caught up in Italian bridge collapse

    Finance

    Search teams in Italy are working around the clock hoping to find more survivors after a giant highway bridge collapsed Tuesday, killing at least 39 people . Davide Capello, a goalkeeper who used to play for Serie A side Cagliari, went down with the bridge in his auto but was able to emerge from the rubble alive.
  • White House condemns Turkey's tariffs on United States imports

    White House condemns Turkey's tariffs on United States imports

    Finance

    Despite the political tensions, the lira rebounded some 6 per cent on Wednesday, strengthening to around 6.0 to the dollar. According to a Bloomberg story, the decision follows President Recep Tayyip Erdogan's call on Tuesday for a boycott of USA electronics including Apple Inc.'s iPhones to retaliate for the Trump administration's punitive actions over the past few weeks to pressure Turkey into releasing an American pastor.
  • Germany, Qatar vow support for Turkey amid USA pressure

    Germany, Qatar vow support for Turkey amid USA pressure

    Finance

    Turkey doubled tariffs on some USA imports including alcohol, cars and tobacco on Wednesday in retaliation for US moves, but the lira rallied further after the central bank's liquidity moves had the effect of supporting the currency. On Wednesday, a court rejected an appeal for Brunson's release from detention and for a travel ban against him to be lifted, the state-run Anadolu Agency reported.
  • Melania tried to calm Trump down before Omarosa tirade

    Finance

    That's exactly what he wanted to avoid, and his presidential campaign filed an arbitration action against her Tuesday, alleging she had breached a confidentiality agreement she had signed. She added: "I've worked alongside Donald Trump for two straight years; I've never heard him say anything about that, including about my husband". The White House Council of Economic Advisors (CEA) said Sanders' stats were wrong last night, and Velshi and Ruhle did the same - tearing into the press ...
  • Turkish president says the country will boycott United States electronics

    Turkish president says the country will boycott United States electronics

    Finance

    The U.S. recently slapped financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey over Brunson's continued detention. Erdogan blamed the crash of the lira on America, claiming a "political, underhand plot" had sent the value of his country's currency falling to record lows.
  • Erdogan says Turkey to 'boycott' United States electronic goods

    Erdogan says Turkey to 'boycott' United States electronic goods

    Finance

    Speaking at a Symposium in Ankara , Erdogan said Turkish businesses must continue to produce and export the country's own goods. The move is seen as retaliation for the United States' decision to sanction two Turkish ministers over the detention of an American pastor on terror-related charges, and to double tariffs on Turkish steel and aluminum imports.
  • Retail inflation at 9-month low; rate hike seems unlikely

    Retail inflation at 9-month low; rate hike seems unlikely

    Finance

    The CSO data revealed that inflation in vegetables declined by (-) 2.19 percent last month, compared to 7.8 percent in June. NBS said the figure is 0.09 per cent points less than the rate recorded in June, indicating 18 consecutive reductions in inflation rate since the last 18 months.
  • Cancer Patient Wins $289 Million In Lawsuit Over Roundup Weed Killer

    Cancer Patient Wins $289 Million In Lawsuit Over Roundup Weed Killer

    Finance

    SHARES in German chemicals and pharmaceuticals giant Bayer tumbled more than 10% as markets opened today, as investors reacted to a shock USA ruling against freshly-acquired Monsanto. Bayer may have to shell out a hefty amount in damages for its recent purchase when other cases against Monsanto go to trial. The spotlight has been on the chemical since the International Agency for Research on Cancer, the World Health Organisation's cancer agency, broke with that longstanding scientific ...
  • Turkish President calls for iPhone boycott

    Turkish President calls for iPhone boycott

    Finance

    Speaking at a Symposium in Ankara, Erdogan said Turkish businesses must continue to produce and export the country's own goods. Erdogan admitted the Turkish economy had problems - including a widening current account deficit and inflation of nearly 16 percent but added: "Thanks to God, our economy is functioning like clockwork".
  • The Country Just Got Much Closer to Having Its First Transgender Governor

    The Country Just Got Much Closer to Having Its First Transgender Governor

    Finance

    Scott managed to win the gubernatorial election in 2016 as a Republican, despite the fact Hillary Clinton carried the state at the presidential level with 61% of the vote. 'Vermonters looked at, 'What's Christine and her team going to do for Vermont?' We can be a beacon for the rest of the world'. Hallquist transitioned while heading the Vermont Electricity Coop, several years before launching her gubernatorial bid.
  • Saudi cuts oil output as OPEC points to 2019 surplus

    Saudi cuts oil output as OPEC points to 2019 surplus

    Finance

    USA stock indexes broadly gained, supporting oil futures. Analysts say trade disputes between the United States and China as well as turmoil in emerging markets could curb growth and energy demand. The Organization of the Petroleum Exporting Countries forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.
  • Could Turkey's currency crisis spread

    Could Turkey's currency crisis spread "contagion"?

    Finance

    The lira's weakness has rippled through global markets. By size , Turkey is America's 32nd-largest trading partner, and US banks have little invested in Turkey, making up less than one percent of all foreign lending. We have to serve better quality goods than we are importing from them, Erdogan added in his comments made amid the ongoing tussle with Washington. The euro was also affected by the lira's drop, following a Financial Times report suggesting the European Central Bank has ...
  • Tesla forms committee to assess proposal to go private

    Tesla forms committee to assess proposal to go private

    Finance

    Tesla's board disclosed on August 8 that Musk had held talks with the directors in the previous week on taking the company private. "The $420 buyout price would only be used for Tesla shareholders who do not remain with our company if it is private".
  • USA stocks slide, U.S. dollar strengthens, over Turkey worries

    USA stocks slide, U.S. dollar strengthens, over Turkey worries

    Finance

    His victory enhances his power, the vote marking the passage from a parliamentary to a presidential system where executive power is concentrated in the hands of the head of state. Mr. Erdogan said Turkey was facing an "economic attack" and a "bigger, deeper operation". The identity of the ministers concerned is not clear.
  • Tourists find silver lining in Turkey's lira crash

    Tourists find silver lining in Turkey's lira crash

    Finance

    President Erdogan addressed ruling party members in Trabzon on Sunday and urged businesses not to pull out foreign currencies from banks. It fell as much as 12 percent at one stage on Monday , then recovered to a loss of 7 percent by 0800 GMT.
  • Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low

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

    Finance

    An ET poll in June had said rupee could touch 70 to the U.S. dollar by December-end amid global policy uncertainties. The dollar's strength against some currencies overseas capped the gains of the domestic unit. The crisis has been sparked by a series of issues including a faltering economy - the central bank has defied market calls for rate hikes - and tensions with the United States, which has hit Turkey with sanctions over its detention of an American pastor.
  • More than 100 large wildfires in United States as six new blazes erupt

    More than 100 large wildfires in United States as six new blazes erupt

    Finance

    About 130 miles (160 km) away, the Mendocino Complex Fire , California's largest-ever wildfire, was 68 percent contained after charring some 344,000 acres Cal Fire said. It is now the sixth most destructive fire in California history, Shanley said. The fire has been burning since July 23. Below this message was another hand written note from police officers.
  • Family, friends remember former Wasilla man who stole commercial airplane

    Family, friends remember former Wasilla man who stole commercial airplane

    Finance

    At a news conference in Seattle-Tacoma International Airport, officials from Alaska Airlines and Horizon Air said that they are still working with authorities as they investigate what happened. The Seattle FBI office said on Sunday that it had recovered the flight data recorder and components of the cockpit voice recorder from the plane with transport safety investigators processing the equipment.
  • Saudi Arabia's sovereign wealth fund looking to take Tesla private

    Saudi Arabia's sovereign wealth fund looking to take Tesla private

    Finance

    In a blog post , Mr Musk said that he only wanted to buy out shareholders who no longer wanted to own Tesla shares. Discussions began before the controversial August 7 tweet by Musk, who is Tesla's co-founder and chief executive officer, saying he was weighing a plan to take the company private.
  • Former Tesla engineering chief returns to Apple

    Former Tesla engineering chief returns to Apple

    Finance

    In May, reports emerged that Field was leaving Tesla at a critical time, when the company was racing to meet production targets for the Model 3 . Although the project was believed to be slowing, an affidavit used in an FBI investigation and revealed in July indicated that Apple is involved in auto components.
  • Pound Slips to Lowest Since November Versus Euro on No-Deal Fear

    Pound Slips to Lowest Since November Versus Euro on No-Deal Fear

    Finance

    Recent gains by the euro and the dollar have also hurt the pound . The news of no-deal Brexit weighs on Sterling sending it to the lowest level since August 31 past year and coupled with earlier comments of the outgoing Monetary Policy Committee (MPC) member Ian McCafferty who added to the no-deal Brexit fear in public debate together with dovish monetary policy outlook.
  • Erdogan vows to defy United States 'threats' after currency crash

    Finance

    A Financial Times report said the European Central Bank was anxious that Turkish citizens would start defaulting on their loans. Still, he went on to state Turkey acted on its own in the past despite U.S. "As he stated, the president has authorized the preparation of documents to raise tariffs on imports of steel and aluminum from Turkey", White House Deputy Press Secretary Lindsay Walters said.
  • Mexico says working hard with U.S. on new NAFTA auto rules

    Mexico says working hard with U.S. on new NAFTA auto rules

    Finance

    The renegotiation of the regional free trade deal started in August 2017 at the request of U.S. President Donald Trump , who claims the original agreement harms U.S. In response, Canadian officials announced "dollar for dollar" retaliatory tariffs, as Prime Minister Justin Trudeau called them at the time, to the tune of over C$16 billion in US imports.
  • Unemployment rates hold steady for Lloydminster region

    Unemployment rates hold steady for Lloydminster region

    Finance

    The economy added 54,100 jobs, another strong month following a 31,800 gain in June. After three straight months of climbs, the unemployment rate in western Alberta has dropped. Calgary's rate increased slightly from 7.7 per cent to 7.9 per cent . The Bank of Canada has raised rates four times over the a year ago as the economy strengthened and says further tightening will be data dependent.
  • Man who stole plane was kind, funny, family and former colleague say

    Man who stole plane was kind, funny, family and former colleague say

    Finance

    The 29-year-old man, who has not been named, was suicidal and appeared to have acted alone, according to the Pierce County Sheriff's Department, which said the employee was believed to have been killed in the crash. At one point, he said: "Hey do you think if I land this successfully Alaska will give me a job as a pilot?" Two military F-15s chased the plane "within a few minutes of theft of plane" and "kept plane out of harms way and people on ground safe", the sheriff's department said.
  • After Tesla Buyout Tweet, Some Investors Wonder: Where Was Nasdaq?

    After Tesla Buyout Tweet, Some Investors Wonder: Where Was Nasdaq?

    Finance

    After the tweet, Tesla's stock rose enough for Musk's net worth to grow by $1.4 billion (according to Hypebeast ). It said this occurred largely through a series of tweets by Musk on August 7, including when he said he might take Tesla private and that there was "funding secured".
  • Turkey Fallout May Also Hit Indian Markets

    Turkey Fallout May Also Hit Indian Markets

    Finance

    The Nasdaq composite was down more than 0.8 percent as technology stocks also dropped. Turkish currency has lost about 40 percent of its value in the past year. "These are the bullets, cannonballs and missiles of an economic war waged against our country", he said. On Friday, the euro sagged to a 13-month low against the dollar, down 0.7 per cent to $1.1450, after the Financial Times reported that the European Central Bank was anxious about possible losses at eurozone banks ...
  • Tech stocks drive Nasdaq higher; Dow, S&P flat

    Tech stocks drive Nasdaq higher; Dow, S&P flat

    Finance

    The Russell 2000 gained 13.43 points, or 0.8 percent . The Dow Jones Industrial Average fell 16.94 points, or 0.07 percent, to 25,566.81. The Dow is up 46.65 points, or 0.2 percent. Energy weighs on the S&P 500 on Thursday . "Today's impact has set the markets in a temporary risk-off sentiment", said Matt Forester, chief investment officer of BNY Mellon's Lockwood Advisors.
  • Authorities probe how 'suicidal' employee could steal plane

    Authorities probe how 'suicidal' employee could steal plane

    Finance

    Russell took off with the stolen aircraft at about 8 p.m. Friday from Seattle-Tacoma International Airport, and was an employee of Horizon Air, the Alaska Air Group said in a statement . The Bombardier Q400 turboprop airplane is designed for shorter-distance flights and can seat 76 passengers, Alaska Air said on its website. "We're working to find out everything we possibly can about what happened", he said.
  • Tesla shares tank as SEC 'intensifying' probe into tweet

    Tesla shares tank as SEC 'intensifying' probe into tweet

    Finance

    The US Securities and Exchange Commission has contacted Tesla to ask about Mr Musk's assertion on Twitter that funding for his proposed deal was "secured", the Wall Street Journal reported on Wednesday. That has some experts raising an eyebrow . Many people have criticized Elon Musk over this move as they feel it is a desperate attempt by the billionaire philanthropist to have more control over the company.