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Turkey's president threatens boycott of iPhones, other United States electronics

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Air Force base at Incirlik and gateway to the Black Sea for the U.S. Navy. He sharply criticized the US for its trade policy, claiming that the ultimate goal was destabilizing Turkey. It was unclear how the Turkish leader planned to implement the boycott. The lira's crash , which saw it fall to a record 7.24 to the dollar early on Monday morning before recovering to 6.35 on Tuesday, prompted concerns that the economy, which is heavily reliant on foreign currency loans, could slide into ... Read More »

USA transgender woman wins Democratic nod for governor in Vermont

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They include Alexandra Chandler, Massachusetts' first openly transgender candidate for Congress, and Kim Coco Iwamoto, who would be Hawaii's first transgender lieutenant governor if elected. Hallquist defeated a crowded field of Democratic contenders to capture the nomination. He is expected to decline the nomination though and run again as an independent. Read More »

Saudi Arabia reins in oil production as demand forecasts waver

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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. USA energy companies last week increased their number of active oil rigs by the most since May, adding 10 rigs to bring the total count to 869, according to the Baker Hughes energy services firm. Read More »

Erdogan: Turkey can do without USA electronic goods

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However, she backed President Recep Tayyip Erdogan's call for the country to convert gold and dollar savings into lira . "If the U.S. has the iPhone, there's Samsung on the other side", Erdogan said, referring to the top South Korean smartphone maker. Read More »

USA stocks slide, United States dollar strengthens, over Turkey worries

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It had already fallen more than 40% in the past year. Terry Sandven, chief equity strategist at US Bank Wealth Management, said the dollar has strengthened because economic growth has picked up and other regions aren't doing as well. He also said on Friday that he had ordered to double USA tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively. Canada's main stock index climbed on Tuesday as higher oil prices lifted energy stocks and concerns around ... Read More »

Erdogan under pressure as Turkish lira plunges to record low

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The sanctions caused market turmoil, which the central bank attempted - but failed - to soothe with a series of market-boosting measures. While Erdogan didn't address their concerns in his speech, he said Turks have already begun converting foreign exchange into Turkish lira because it would be tantamount to "surrendering" if they did otherwise. Read More »

Tesla forms three-member panel to look at any Elon Musk deal

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A source familiar with the matter said Silver Lake was offering its assistance to Musk in his exploration of a deal without compensation, and had not been hired as a financial adviser in an official capacity. Yasir Othman al-Rumayyan, managing director of the PIF, when contacted, referred Reuters to the corporate communications team. The PIF board is headed by the Crown Prince Mohammed bin Salman. Read More »

It's Official, Sydney Is More Liveable Than Ever

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Vienna , the capital of Austria, has replaced Melbourne as the world's most liveable city . Adelaide also scored highly, ranking number 10 out of 140 cities globally and number five out of the Asian Pacific cities. Researchers said wealthy financial capitals such as Paris (19th), London (48th) and NY (57th) tended to be "victims of their own success" with higher crime rates and overstretched infrastructure dampening their appeal. Read More »

Stocks close lower amid Turkish currency crisis

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Erdogan said Turkey is facing an "economic siege", calling the decline of the lira an "attack against our country". "In view of the domestic political and economic conditions, it is therefore unclear whether the necessary steps will be taken to contain the market fallout". Read More »

Turkey takes action in bid to curb currency crisis

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President Erdogan , meanwhile, dismissed the suggestion that Turkey was in a financial crisis, saying the lira's drop was the result of a plot. Many analysts say that isn't likely, but it's caused sharp losses for stocks. USA indexes are coming off their worst losses in a month as investors anxious about financial upheaval in Turkey which has sent that country's currency, the lira, plunging. Read More »

A sixth firefighter killed battling California wildfires

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Notification of the next of kin is now in progress. "What we're seeing in California right now is more destructive, larger fires burning at rates that we have historically never seen", Cal Fire spokesman Jonathan Cox said. Five civilians were killed in the Carr Fire as well, including a worker for Pacific Gas & Electric. "Fed your fish on 8-1-2018 @ 10:33 a.m". Not so. Read More »

Turkish currency crisis adds to misery of Indian rupee

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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. Read More »

Turkey crisis deepens at lira hits new low

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U.S. State Department spokesperson Heather Nauert said on Thursday that although the two sides "had wide-ranging meetings at the State Department and with other departments here in Washington", the U.S. Erdogan rejected speculation that Turkey would seek a rescue package from the International Monetary Found. 'I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong ... Read More »

Turkey claims social media accounts are 'provoking' crash of the lira

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European stocks fell on Monday, with a pan-European index of shares down 0.3 percent and the banking stock index as much as 2.6 percent lower. A dispute between North Atlantic Treaty Organisation allies Turkey and the USA - which reached new intensity over the detention of an American pastor - has hammered the lira and also raised questions over the future partnership between Washington and Ankara. Read More »

Turkey's currency in a free fall amid United States trade row

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Relations between the two North Atlantic Treaty Organisation allies have taken a turn for the worse amid a dispute over the detention in Turkey of United States evangelical pastor Andrew Brunson on terrorism charges. The MSCI world equity index, which tracks shares in 47 countries, was down 0.6 per cent on Monday and 1.75-per-cent since Friday's open as the Turkish lira plunged to a record low, forcing the country's finance minister to announce an economic action plan to ease nerves. Read More »

Turkish economy is solid, strong: President Erdogan

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Following the central bank's promises on Monday, the lira pulled back from a record low of 7.24 against the dollar, strengthening to 6.4, before weakening again to 6.92. Meanwhile, Turkey's Financial Crime Investigation Board ( MASAK ) also launched a probe into what it described as " fake news" aiming to manipulate economy. Read More »

Elon Musk: Saudi Fund Asked About Taking Tesla Private

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The amount of funding needed would depend on how many current investors want to remain part of the $60.9 billion company if it goes private. The Saudi sovereign wealth fund recently bought a 5% stake in Tesla . The discussions failed to progress due to disagreements over ownership. The tweet saw Tesla share prices jump (climbing $20 above their opening price within a matter of hours), leaving investors who had " shorted " the stock - or put money on Tesla's stock price dropping - ... Read More »

Former Tesla VP returns home to work on Apple Car

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Field worked at Apple as VP of Product Design and VP of Mac hardware from 2008 to 2013 before moving to Tesla . Although few details about Project Titan have ever been made public, Apple appears to be expanding its autonomous driving team along with the hiring of Field. Read More »

Turkish lira crisis gets worse with fresh 11% plunge

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European markets, including the FTSE100 also opened lower, and the euro fell 0.3% to a one-year low against the dollar, as the nosediving lira drove demand in global markets for safe currencies including the greenback, Swiss franc and yen. Read More »

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

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The sovereign wealth fund of Saudi Arabia is exploring a way to be a part of taking Tesla private, a Bloomberg report states. Saudi's sovereign fund - Public Investment Fund - had built almost five percent stake before Musk's tweet . 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. Read More »

Authorities probe how airline employee could steal plane

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Alaska Airlines said no structures on the ground were damaged. Video showed the Horizon Air Q400 , a turboprop plane that seats 76 people, doing large loops and other risky maneuvers as the sun set on Puget Sound. Witnesses reported seeing the plane being chased by military aircraft before it crashed on Ketron Island, about 40 kilometres south-west of Tacoma, Washington. Read More »

Erdogan slams United States for preferring terrorists as partner

Albayrak also said a plan has been prepared for banks and the real economy sector, including small to mid-sized businesses which are most affected by the foreign exchange fluctuations. The lira tumbled 16 percent against the dollar on Friday. Since then, its relationship with Turkey, the sixth largest steel importer to the USA, the world's biggest steel importer overall, has deteriorated, prompting Ankara to send a delegation this week to Washington to meet with both the State and Treasury ... Read More »

Unemployment rate drops to four-decade low in July

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It was 5.8 per cent in July 2017. The jobless rate had been 5.8 percent from February through May, the lowest since the current method of calculating unemployment was introduced in 1976, before edging up to 6.0 percent in June. These gains were largely attributed to an overall growth in the number of part time jobs available. By industry, the services sector saw the biggest gains last month with a combined net increase of 90,500 jobs, which was led by 36,500 new positions in education and ... Read More »

Trade Desk shares rally on earnings beat

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Trade Desk opened at $91.37 on Thursday, Marketbeat Ratings reports. The target price by Nomura would suggest a potential downside of -21.05 % from the company's last stock close. A number of equities research analysts have commented on the company. ValuEngine raised Trade Desk from a "hold" rating to a "buy" rating in a research note on Saturday, May 12th. Read More »

Nike sued by those alleging hostile workplace

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The company acted quickly on Matheson's admission of the Nike's gender-equality shortcomings, lapses that came to light just months after chief executive Mark Parker said in a statement in March that said the company had received complaints of inappropriate behavior. Read More »

IKEA store attracts 40,000 customers on first day

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John Achillea, IKEA's Managing Director for Telangana, Telangana's IT Minister K.T. Rama Rao and other key individuals of the Sweden-based furniture retail company inaugurated the store. Alongside standard Ikea furniture, "locally relevant products" such as masala boxes, Indian frying pans, rice cake makers and mattresses with a coconut-fibre centre, will be on offer. Read More »

Turkey turmoil rattles Wall Street, banks take a knock

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The Turkish lira briefly dropped almost 20 percent against the dollar after US President Donald Trump tweeted that he has authorized the doubling of tariffs on steel and aluminum imports from Turkey. Rite Aid (RAD.N) fell 11.5 percent after the drug store chain and USA grocer Albertsons Cos ABS.N agreed to terminate their merger agreement. China's tit-for-tat response to the Trump administration's latest round of tariffs dragged down shares of trade-sensitive stocks such as Caterpillar and ... Read More »

British pound falls lower against dollar, euro

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Trade developments and weakness in the Pound ( GBP ) caused GBP/INR to tumble from the interbank rate of 90.02 to 89.12 last week, and GBP/INR has fallen further so far this week to it's lowest level since January 2018. "We remain bearish on the pound in the short term until the Brexit mess is out the way and look for the currency to enter a US$1.27-1.28 range before the leaders' summit in September", said Nomura strategist Jordan Rochester. Read More »

Airline Worker Steals Aircraft, Crashes Near Seattle

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The incident closed the Seattle airport to arrivals and departures for a short time, but flights have since returned to normal. Pierce County Sheriff Paul Pastor described the incident as a "joyride gone terribly wrong", adding that the pilot "did something foolish and may well have paid with his life". Read More »

"Deal with is Mexico Coming Along Nicely...Canada Must Wait".

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Before he entered the meeting, Guajardo said Mexico was getting close to overcoming sticking points with the United States. If the USA and Mexico can resolve their bilateral differences in the coming days, the source said it's "very possible" Canada's team - potentially including Foreign Affairs Minister Chrystia Freeland - could rejoin negotiations later in the week. Read More »

Extraordinary audio of the Seattle hijacker conversation with air traffic controller

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The plane crashed on Ketron Island, a small island in the Puget Sound that is home to about two dozen residents. The plane had crashed near the southern tip of the island, its wings sheared off and the fuselage resting upside down. Mr Russell, a ground service employee with Horizon Air, has not been officially named by authorities but his family have revealed his identity. He also says it's extremely lucky no one else was hurt. Read More »

News Corp loses $1.4bn as paid subscriptions get a boost

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While reporting News Corp.'s Q2 results in a February 8 earnings call, Thomson pointed out: "Clearly, there are profound changes taking place in the creation and the distribution of digital content". The number of subscribers to Foxtel grew 2% to 2.8 million in the year to 30 June 2018. Mr Thomson told an analyst briefing the "absolute focus" of the company in Australia would be the integration of Foxtel and Fox Sports, rather looking to buy a new business. Read More »