Finance

by | August 15, 2018 | 23:51

The Turkish currency has lost almost 40 percent against the dollar this year, driven by worries over Erdogan's growing influence on the economy and his repeated calls for lower interest rates despite high inflation. Apple has 22 percent of the smartphone market in Turkey, where 11.4 million units were sold a year ago, according to Ramazan Yavuz, research manager at IDC consultancy company.

by | August 15, 2018 | 20:58

The lira - which had lost just under a quarter of its value in trade on Friday and Monday - however continued to claw back some ground on financial markets, rallying over five percent against the dollar. Mr Erdogan suggested Turkey would stop procuring US-made iPhones and buy Korean Samsung or Turkish-made Vestel devices instead. The lira was around 6.55 to the dollar on Tuesday, up 6% on the previous day after the central bank freed up cash for banks, and a slight recovery from a ...

by | August 15, 2018 | 19:17

Oil prices were mixed with Brent was up at 72.73 dollars a barrel, while US crude added 5 cents to 67.68 dollars. Some oil bulls are preparing for oil prices of US$150 and even US$200, Reuters reported yesterday, citing prominent hedge fund manager Pierre Andurand and Jean-Louis Mee, chief executive of Westbeck Capital.

by | August 15, 2018 | 14:24

Davide Capello, a former Cagliari goalkeeper, now firefighter, plummeted to the ground inside his auto when the bridge collapsed the Italian news agency ANSA reported . This technique also characterises another, even longer and just as problematic Morandi bridge: the 8.7-kilometre long General Rafael Urdaneta Bridge that spans the bay of Maracaibo, Venezuela, and was completed in 1962.

by | August 15, 2018 | 11:25

He did not say when the boycott would start or how it would be enforced. Trump doubled tariffs on imports of Turkish steel and aluminum last week, contributing to a precipitous fall in the lira TRYTOM=D3 . But the United States insists Andrew Brunson, a long-time Turkish resident who ran the tiny Izmir Resurrection Church, is "a victim of unfair and unjust detention".

by | August 14, 2018 | 22:48

Moreover, Silver Lake is not now discussing participating in the deal as an investor, the source said. Tesla, meanwhile, declined to comment when reached by Business Insider . The Saudi fund intends to sell its $70 billion stake in Saudi Basic Industries to oil giant Aramco, which could free up funds for new deals, but that sale may take months to conclude.

by | August 14, 2018 | 19:54

Turkey on Tuesday announced that it will boycott American electronic devices amid tensions with Washington that have led to a historic Turkish currency crisis. The United States slapped financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey over his continued detention.

by | August 14, 2018 | 19:09

Full containment is not expected on the until September 1, fire officials said. "A firefighter from Utah was working on an active portion of the fire, where he was injured this evening". The Carr Fire has been the deadliest of the wildfires to hit the West this season. "Now we can focus on the challenge of the Ranch Fire ", he said.

by | August 14, 2018 | 17:25

The USD/INR pair opened at 69.48 and rose to a new lifetime high of 69.61 today as other Emerging Market (EM) currencies tanked in response to the crisis in Turkey . He said the RBI has spent about $23 billion so far to intervene in the market. The rupee registered a sharp decline of 109 paise to close at 69.93 against the United States dollar on Monday - the biggest single-day drop in past five years.

by | August 14, 2018 | 15:23

His comments echoed those made by Turkey's President Recep Tayyip Erdogan over the weekend. The lira has been hammered by worries over President Erdogan's handling of the economy, a refusal to raise interest rates to curb rampant inflation and worsening ties with the US.

by | August 13, 2018 | 20:42

Beyond amassing a stake of just below 5 percent in Tesla, the sovereign wealth fund has poured tens of billions of dollars into technology investments, including $45 billion in SoftBank Group Corp's ( 9984.T ) Vision Fund over five years. "I have not seen significant short covering in Tesla since Elon Musk's tweets", Dusaniwsky told Benzinga. Musk could soon be under investigation by the SEC if he can't prove there actually is a reasonable $420 offer on the table.

by | August 13, 2018 | 18:27

In other commodity markets, gold was no beneficiary of safe haven flows, in fact it was lower almost 1 per cent at $1198.25 an ounce. China's blue chip index shed 1.2 per cent, while Hong Kong stocks lost 1.4 per cent as the local dollar fell to the limits of its trading band.

by | August 13, 2018 | 17:40

Two class-action lawsuits have been filed against Tesla and its outspoken CEO Elon Musk , who announced on Wednesday the company had "secured" funding to delist itself. According to Reuters , the separate lawsuits by Kalman Isaacs and William Chamberlain accuse Tesla and Musk of issuing statements that are in violation of securities law, artificially boosting the stock price, and putting a squeeze on short sellers.

by | August 12, 2018 | 21:42

IXIC was up 0.31 percent at 7,913.03, barely 0.25 percent away from hitting an all-time high. Shares of Apple rose 0.8 per cent, while those of Amazon were up 0.6 per cent. Intel, Micron, Applied Materials and ON Semiconductor fell between 0.1 percent and 3.4 percent. Turkey's lira touched a record low against the dollar , weakening 4 percent in 24 hours after meetings in Washington looked to have made little progress in mending a row over Ankara's jailing of an American pastor.

by | August 11, 2018 | 23:59

China announced last Friday it plans to impose tariffs of up to 25 percent on $60 billion of US goods as the trade salvos between the world's two largest economies continued. He seems eager to find the pain points of trade partners, and China in particular. The view in Beijing is that the United States objective is not primarily the reduction of the trade deficit but the subordination of the Chinese economy to the USA, turning it into an "economic vassal".

by | August 11, 2018 | 23:57

Bitcoin fell sharply on Wednesday after the U.S. Securities and Exchange Commission ( SEC ) delayed a decision on a proposed bitcoin exchange-traded fund (ETF), which would have been the first financial product of its kind. This means that investors don't actually need to buy a Bitcoin . Created by Intercontinental Exchange (ICE), the operator of the New York Stock Exchange (NYSE), Bakkt has already inked partnerships with Microsoft and Starbucks to develop ways to take cryptoassets ...

by | August 11, 2018 | 18:38

It also called on the striking unions to return to negotiations rather than "calling any more unjustified strikes". In July, around 300 flights were cancelled in similar strikes in Portugal, Spain and Belgium . A Dutch court also rejected a case from Ryanair seeking to block pilots in the Netherlands from joining Friday's strike, but the Irish airline said all of its flights there would run as scheduled.

by | August 11, 2018 | 15:00

The Sheriff's Office said they were looking into his background. The plane was taken by a 29-year-old Sumner, Pierce County, man about 8 p.m. and crashed on Ketron Island about 90 minutes later, according to the Pierce County Sheriff's Department.

by | August 11, 2018 | 13:56

It hit a record low after Trump announced he had authorized higher tariffs on imports from Turkey, imposing duties of 20 percent on aluminium and 50 percent on steel . "Confidence needs to be regained". In response, the currency renewed its sell-off. There are fears that European markets are more exposed to Turkey shocks than has been priced in, while traders are jumping on any opportunity to sell the pound at present.

by | August 10, 2018 | 16:28

Skripal and his daughter were poisoned by the Novichok military-grade nerve agent in the English city of Salisbury in March. The US is poised to impose sanctions on Russia in retaliation for a March nerve agent attack on a former Russian double agent and his daughter.

by | August 09, 2018 | 11:10

The first such cap by any major US city was part of a package of measures that also includes setting a minimum wage for drivers. "The City's 12-month pause on new vehicle licenses will threaten one of the few reliable transportation options while doing nothing to fix the subways or ease congestion", she said, adding that the company would work "to pass real solutions like comprehensive congestion pricing".

by | August 09, 2018 | 04:39

China said on Wednesday, August 8, it will impose 25% tariffs on a further $16 billion of U.S. goods, making good on its promise to retaliate against new American levies . There is a mandatory 60-day comment period for industries to ask for exemptions from the tariffs. And the conflict is likely to escalate: The administration is preparing tariffs of up to 25 percent on an additional $200 billion in Chinese products.

by | August 09, 2018 | 04:13

Offering more ways for advertisers to purchase ads has boosted revenue this year by drawing small brands looking for cheap commercial time. That 188 million daily active user number is 8 percent higher than this time previous year, and CFO Tim Stone said that monthly active users are now up to 100 million in USA and Canada.

by | August 09, 2018 | 03:30

The Asian country buys roughly 11% of Iranian crude exports, and because of the threat of secondary sanctions, it's reportedly looking for alternative supplies. Observers have dismissed Trump's call for Saudi Arabia to abruptly increase oil production as political "noise". Shipments into the world's biggest importer of crude came in at 36.02-million tonnes last month, or 8.48-million barrels per day (bpd), rising from 8.18-million bpd a year earlier and just up on June's 8.36-million ...

by | August 08, 2018 | 22:48

Midway through the trading session in NY on Wednesday, Tesla shares were down 5% at $374 after surging 11% on Tuesday. "Given the haphazard process of disclosure last afternoon, our initial impression was that Elon Musk sprung his plan of going private upon the public without consulting Tesla's board of directors or major shareholders", Bernstein analysts said in a note titled "Going private?" Teresa Goody, a former SEC official, said Musk "did something inappropriate and caused ...