Economy

Economy Bitcoin falls through $6,000 mark as cryptocurrencies suffer
Author: 0 Bitcoin falls through $6,000 mark as cryptocurrencies suffer

For a long time, this resistance level has been the point of discussion since every time bitcoin has been able to break it, it has gone on to soar and every time it has slipped below it; it has gone on to slip further below and has struggled to find its way above it.

Economy Qatar pledges $15 billion to invest in Turkey
Author: 0 Qatar pledges $15 billion to invest in Turkey

Tariffs were also doubled on goods such as cosmetics, rice and coal. "The tariffs are specific to national security", she said. According to the Turkish presidential press office, Erdogan and al-Thani also exchanged views on bilateral relations and regional developments during their three-hour meeting.

Economy U.S., China to Resume Trade Talks as Tariffs Bite
Author: 0 U.S., China to Resume Trade Talks as Tariffs Bite

A Chinese trade delegation will visit the U.S. this month to kick off a new round of talks, the first since negotiations broke down two months ago. The two countries plan to launch a new round of tit-for-tat tariffs on $16 billion worth of goods from each country on August 23.

Economy United Kingdom unemployment rate falls to new 43-year low
Author: 0 United Kingdom unemployment rate falls to new 43-year low

The number of European Union nationals working in the United Kingdom fell by 86,000 to 2.28 million between April and June compared to the same period a year ago. The ONS also said output per hour worked grew by 1.5 percent year-on-year in the April-June period, the biggest increase since late 2016 after a 0.9 percent rise in the first quarter of 2018.

Economy Kremlin reveals Putin-Merkel talks agenda
Author: 0 Kremlin reveals Putin-Merkel talks agenda

Although he didn't specify the country, the President is going to visit. The low-key meeting will focus on "the Syrian conflict, which has gone on far too long, the situation in eastern Ukraine and energy issues", said Seibert at a press conference Monday.

Economy How strong is the USA dollar's position as a reserve currency?
Author: 0 How strong is the USA dollar's position as a reserve currency?

Kremlin officials say this idea needs work before being implemented . "It would be a massacre to bomb Idlib, civilians, hospitals, schools just because there are terrorists". Turkey's Foreign Minister Mevlut Cavusoglu (R) and his Russian counterpart Sergei Lavrov attend a joint press conference following their meeting in Ankara on August 14, 2018.

Economy Turkey to boycott USA products including iPhone, says Erdogan
Author: 0 Turkey to boycott USA products including iPhone, says Erdogan

Erdogan vowed to substitute foreign imports with domestically produced goods. President of Turkey and the leader of the Justice and Development Party (AK Party) Recep Tayyip Erdogan . The lira lost approximately 40 percent of its value against the dollar this year, but bounced back strongly since the beginning of the week -gaining around 9 percent.

Economy Turkey doubles tariffs on some USA imports; Turkish lira rallies
Author: 0 Turkey doubles tariffs on some USA imports; Turkish lira rallies

The war of words between Turkey and the United States has escalated significantly in the past week as the US calls for the release of an American evangelical pastor. In his televised speech yesterday, Erdogan vowed that Turkey will " boycott USA electronic goods". United States officials maintain there is no credible evidence against Brunson - who has been held for nearly two years - and the Trump administration has negotiated for weeks to secure his release.

Economy 22 dead in Italy after motorway bridge collapses
Author: 0 22 dead in Italy after motorway bridge collapses

Three French citizens and two Albanians were also killed. Hundreds of rescuers continued their search on Wednesday after scouring the huge piles of concrete and twisted metal overnight by floodlight, hoping to find survivors. It is not yet clear what caused the bridge to collapse, which came as maintenance work was being done on the bridge and as the Liguria region experienced torrential rainfall.

Author: 0 Turkey Counterpunches By Raising Tariffs On U.S. Goods

Markets are concerned by Erdogan's influence over the economy and his resistance to interest rate increases to tackle double-digit inflation. On Wednesday, Qatar pledged $15 billion to help Turkey through its economic and currency crisis.

Economy Turkey crisis: Qatar pledges $15BILLION investment in Turkey amid USA sanctions row
Author: 0 Turkey crisis: Qatar pledges $15BILLION investment in Turkey amid USA sanctions row

The tit-for-tat tariffs came amid Turkey's rejection of a USA demand that it release American pastor Andrew Brunson , detained on espionage and terrorism-related charges. Hovenier also noted that the U.S.is demanding the resolution of several other US citizens' cases, including NASA astronaut Serkan Golge, convicted of being a member of a terrorist organization in February "without credible evidence", according to the State Department, and of three Turkish citizens who work for the USA ...

Economy Donald Trump’s Brutal Morning TV Talking-To
Author: 0 Donald Trump’s Brutal Morning TV Talking-To

Trump ratcheted up his rhetoric against Manigault Newman on Tuesday, calling her " that dog ". "I told him to try working it out, if possible, because she only said GREAT things about me - until she got fired!" "I'm not going to be bullied by Donald Trump ".

Economy Turkey court rejects new appeal to release detained USA pastor
Author: 0 Turkey court rejects new appeal to release detained USA pastor

A previous appeal by Brunson was rejected at the end of July. If the Turkish government does not eventually agree to US demands and release him early, Brunson could spend 35 years in prison. This tariff hikes came after Turkish President Recep Tayyip Erdoğan's announcement on 14 August of a boycott on United States electronics goods, with Erdoğan advising explicitly against the purchase of iPhones , encouraging citizens to instead use Samsung and Turkish-made Vestel phones.

Economy Turkey hits back at United States with tariff hikes on key products
Author: 0 Turkey hits back at United States with tariff hikes on key products

The US doubled tariffs last week over Turkey's refusal to extradite a US pastor who is imprisoned there . He added that USA electronics would have sanctions placed on them. Kalın also stressed that the efforts and collaborative negotiations to preserve a liberal economic system will continue uninterruptedly. Turkish currency tumbled low over deteriorating relations with the United States as President Donald Trump unexpectedly doubled metal tariffs against the Muslim state on Friday.

Author: 0 Turkish Erdogan’s Spokesman expects Lira recovery to continue

The lira has lost more than two-fifths of its value against the greenback this year, hit by worries over President Tayyip Erdogan's calls for lower interest rates and fraying ties between the United States and Turkey, a North Atlantic Treaty Organisation ally.

Economy Nigeria’s inflation dips to 11.14% in July - NBS
Author: 0 Nigeria’s inflation dips to 11.14% in July - NBS

Based on Consumer Price Index (CPI), inflation for June has also been revised downwards to 4.92 percent from the earlier estimate of 5 percent, as per the Central Statistics Office (CSO) data released on Monday. The IMF had lowered its growth projection for India last month by 10bps to 7.3%, citing higher oil prices and speedier interest rate increases by the RBI because of higher-than-expected inflation.

Economy United States official warns of more actions against Turkey if pastor not freed
Author: 0 United States official warns of more actions against Turkey if pastor not freed

The Indian rupee hit an all-time low of 69.62 to the USA dollar and the Indonesian rupiah took the biggest tumble out of all the Asian currencies and hit its lowest point in three years. Amid calls to "burn" the dollars, the group headed to a bank branch where they converted the money, it said. "And we have our own telephone brands", he said in clear-worded remarks.

Economy Oil steady as emerging market woes dim demand outlook
Author: 0 Oil steady as emerging market woes dim demand outlook

Fears that the escalating tensions could lead to a slowdown in global economic growth and a corresponding hit to demand for oil have weighed on crude prices in recent weeks. As for Saudi Arabia, OPEC's largest oil producer submitted to the group its own data which showed that output slipped by 200,000 to 10.28 million bpd in July.

Economy Lira crisis: Turkey to boycott U.S. electronic goods over sanctions
Author: 0 Lira crisis: Turkey to boycott U.S. electronic goods over sanctions

The Turkish president's standoff with Trump has fuelled concerns of a foreign policy shift that would result in Turkey leaving North Atlantic Treaty Organisation, forging stronger political links with Russia, China and Iran, and allowing the three million Syrian refugees living in Turkey to leave for the EU.

Economy Tesla board says it will assess plan to go private
Author: 0 Tesla board says it will assess plan to go private

Musk said he anticipates that most Tesla shareholders would remain invested in the company if it were to go private, and that reports of a $70 billion buyout are inflated. Musk said he will "continue to talk with investors" as he looks into taking the automaker private. That tweet may have created a sticky situation for Musk as it appears the funding may not be locked up just yet.

Economy Turkey's Erdogan Vows US Boycott, But Diplomats Resume Talks
Author: 0 Turkey's Erdogan Vows US Boycott, But Diplomats Resume Talks

It had already fallen more than 40% in the past year. He noted that the USA has punished its own allies, an apparent reference to Turkey that recently faced US sanctions over the continued detention of an American pastor on espionage and terror-related charges.

Economy World’s least liveable cities dominated by crime, civil unrest and terrorism
Author: 0 World’s least liveable cities dominated by crime, civil unrest and terrorism

Vienna , the capital of Austria, has replaced Melbourne as the world's most liveable city . Among other Australian cities to be demoted, Perth has gone from seventh to 14th place since 2017. Last year, Singapore rose to its highest ever ranking at 35th in the annual survey conducted by the Economist Intelligence Unit (EIU). On a larger scale, global livability has improved for the second year in a row, increasing from 74.8% last year to 75.7% in 2018.

Economy Turkey seeks worldwide support for the Lira
Author: 0 Turkey seeks worldwide support for the Lira

In an interview with Hurriyet newspaper published online, Albayrak described the lira's weakness as "an attack", echoing President Tayyip Erdogan - who is his father-in-law - but he said Turkey's action plan was ready. A rise in interest rates is still on the cards, analysts say, as could be a possible loan from the International Monetary Fund to tide Ankara over, just like Argentina recently negotiated a $50 billion loan with the IMF to stem the decline of the peso which fell 35 percent ...

Economy Rupee crashes to all-time low of 70.09 against US dollar
Author: 0 Rupee crashes to all-time low of 70.09 against US dollar

The Indian rupee hit the 70-per dollar mark for the first time, tumbling to a record low , as a Turkey-led rout in emerging-market currencies intensified losses. Indian sovereign bonds were trading slightly higher. Despite the headwinds, the latest high-frequency indicators like the purchasing managers' surveys show that India's start to the July quarter has been strong.

Economy CalFire: Firefighter in Mendocino Complex Fire dies, River Fire 100% contained
Author: 0 CalFire: Firefighter in Mendocino Complex Fire dies, River Fire 100% contained

The fire became the largest in state history last week, passing the Thomas Fire from December 2017 as it grew to over 283,000 acres. Six firefighters have died in those wildfires. Firefighters monitor a back fire as they battle the Medocino Complex fire on August 7, 2018 near Lodoga, California . Thus far, firefighters believe they have about half of the Carr fire contained, but concerns remain about the remote forest and grasslands the fire is approaching.

Economy Seattle plane crash: Family of man who crashed stolen plane issue statement
Author: 0 Seattle plane crash: Family of man who crashed stolen plane issue statement

A US official briefed on the matter told The Associated Press the man was Richard Russell . He has not been officially named by authorities, but his family and multiple news media outlets have reported his identity. Southers said the man could have caused mass destruction. Russell had worked as a Horizon Air ground service agent for 3½ years. The aircraft was stolen about 8pm.

Economy Elon Musk: Saudi Fund Asked About Taking Tesla Private
Author: 0 Elon Musk: Saudi Fund Asked About Taking Tesla Private

The Saudi investment fund approached Musk months ago to discuss acquiring a minority stake but was turned down as the company did not plan on issuing new shares at the time, a source close to the discussions told Bloomberg . "Going back nearly two years, the Saudi Arabian sovereign wealth fund has approached me multiple times about taking Tesla private", Musk wrote in a blog post on Monday.

Economy Sterling volatility continues over no deal Brexit fears
Author: 0 Sterling volatility continues over no deal Brexit fears

There was no obvious trigger for Wednesday's big moves lower, but rather a building sense of investor anxiety as the clock ticks down towards a series of EU-Britain meetings starting in September with no agreement in sight. Risk reversals - used commonly to hedge against expected currency moves - in sterling/dollar fell to their lowest since early March 2017. The UK government has so far made little progress in agreeing on a post-Brexit trading deal with the EU.

Author: 0 Erdogan Tells Turks to Buy Crumbling Lira as Trump Turns the Screws

The European Central Bank announced on Friday that it was concerned about the Lira's exposure to European banks, fearing that financial contagion may spread to major lenders such as Unicredit, BBVA, and BNP Paribas. This year, it lost more than 40 per cent. Prior to Trump's announcement, the Turkish lira fell to its lowest point ever against the USA dollar on Friday.

Economy Mexico NAFTA talks drag on as autos sticking points emerge
Author: 0 Mexico NAFTA talks drag on as autos sticking points emerge

U.S. President Donald Trump said on Friday that the United States and Mexico were making progress on a trade deal, and warned Canada he would tax their auto exports if an agreement can not be reached with Ottawa. Asked if he could finish the U.S. -Mexico issues on Friday, Guajardo said "I don't think today but we are very close". "Canada must wait", Trump posted.

Economy Windsor's unemployment rate rises above national average in July
Author: 0 Windsor's unemployment rate rises above national average in July

According to Statistics Canada, there were a total of 741,200 people employed in Ottawa and Gatineau last month, a loss of 3,700 jobs from June. Data collected for the Labour Force Participation Survey showed Windsor's participation rate rose a tenth of a percentage point in July to 60.5 per cent.