• China lodges WTO complaint on US solar tariffs
China lodges WTO complaint on US solar tariffs

The Chinese Ministry of Commerce said on August 8 that tariffs of 25 percent on 16 billion dollars of US goods - including autos, fuel, steel products and medical equipment - will be activated on August 23, the same day when Washington initiates tariffs on an equivalent amount of Chinese imports.

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  • Trump attacks Turkey, vows to pay 'nothing' for USA pastor's release
Trump attacks Turkey, vows to pay 'nothing' for USA pastor's release

The lira crisis therefore - at the very least - reflects the political and economic turmoil taking place in Turkey. Albayrak also said Turkey had no plans to seek help from the International Monetary Fund or impose capital controls to stop money flowing overseas.

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  • Court rejects appeal for American pastor's release from detention, Turkish media says
Court rejects appeal for American pastor's release from detention, Turkish media says

Some Turks are reacting with defiance to their plunging currency and an escalating trade and political dispute with the United States - an indication that they are ready to endure economic pain and risk further deterioration in a key, yet troubled alliance dating from the Cold War.

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  • Turkey raises tariffs on some US imports in retaliation, says report
Turkey raises tariffs on some US imports in retaliation, says report

It is believed many Qatari investors could be at risk from a Turkish economic crisis. The Turkish lira has dropped to record lows in recent weeks, having fallen some 42 percent so far in 2017. The decree said the move brought tariffs to 50 percent on imports of U.S. rice, 140 percent on hard alcoholic drinks like spirits, 60 percent in leaf t...

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  • Tesla, Musk Sued Over ‘Fraudulent Scheme’ To Go Private
Tesla, Musk Sued Over ‘Fraudulent Scheme’ To Go Private

His personal stake in Tesla is nearly 20 percent. "The fact that there has been no announcement clarifying, confirming, or denying the financing is surprising and puts Tesla and Musk at great risk", he said in an email. Securities and Exchange Commission had begun inquiring about Musk's activity. Tesla is facing a make-or-break moment in ...

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  • Cal Fire: Utah Firefighter Dies Battling Ranch Fire
Cal Fire: Utah Firefighter Dies Battling Ranch Fire

In a Facebook post, Cal Fire used the opportunity as a teaching moment, telling residents, "Remember to have a plan for all your pets". In all, it has burned 295,970 acres, putting it on track to become the state's first single 300,000 acre fire .

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  • Tesla Board 'Totally Blindsided' by Musk's Suggestion to Take Company Private
Tesla Board 'Totally Blindsided' by Musk's Suggestion to Take Company Private

Shares in Tesla, which are still well below highs hit when Musk initially raised the prospect of the transaction last week, inched up 0.7% in trading before the bell. They first met with me at the beginning of 2017 to express this interest", Musk said. The committee hasn't yet received a formal proposal from Musk, who earlier this month tweeted t...

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  • US tariff hike on Turkey fails to make economic sense
US tariff hike on Turkey fails to make economic sense

In March, the USA had imposed tariffs of 25 per cent on steel and 10 per cent on aluminum for imports from a variety of countries. A financial shockwave ripped through Turkey on Friday, when its currency nosedived on concerns about its economic policies and a dispute with the USA, which President Donald Trump stoked further with a promise to do...

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  • Here's How You Can Win Free McDonald's For Life
Here's How You Can Win Free McDonald's For Life

The contest ends on August 24. While this may seem like an incredible deal, the entire "lifetime supply" of food is valued at $52,350.00, and the real kicker is that it is all going towards McDonald's fast food. Ten will win free drinks for five years, and Starbucks will award free drinks over shorter time frames along with smaller prizes such ...

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  • Markets Now: Dow Drops 105 Points as Turkey Finally Matters
Markets Now: Dow Drops 105 Points as Turkey Finally Matters

Occidental Petroleum ( OXY.N ) fell 4.2 percent after it maintained a tepid production forecast for the year. Walt Disney (N:DIS) fell 0.8 percent after its quarterly profit missed estimates as new technology costs rose. The S&P 500 is up 13.23 points, or 0.5 per cent. Shares in leading USA banks also plunged significantly with Bank of Ameri...

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  • Turkey Warns the United States about Danger of Losing Strategic Partner
Turkey Warns the United States about Danger of Losing Strategic Partner

U.S. President Donald Trump has feuded with Erdogan over several issues, including the detention of an American pastor in Turkey, whom Turkey has held since 2016 and accused of espionage. Erdogan appeared to indicate that the entire alliance between Turkey - which joined North Atlantic Treaty Organisation in 1952 with strong American backing ...

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  • Markets and investors await Erdogan's response to lira crisis
Markets and investors await Erdogan's response to lira crisis

U.S. President Donald Trump said Friday he had authorized the doubling of steel and aluminum tariffs with respect to Turkey, as tensions mount between the two North Atlantic Treaty Organisation allies. "We will not lose the economic war ", state-run TRT Haber TV quoted Erdogan as saying, according to Agence France-Presse. The lira fell further...

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  • Tesla’s Big Question: Better or Worse Off as Private Company
Tesla’s Big Question: Better or Worse Off as Private Company

Scepticism about the legitimacy of Musk's proposed deal surfaced nearly immediately after Musk dropped the bombshell on his Twitter account a few hours after the stock market opened on Tuesday. Musk has promised a sustained net profit starting in the third quarter. Just last week, he revealed he had been working 110 hours a week to deliver on sho...

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  • Musk Says in Tweet He Is Considering Taking Tesla Private
Musk Says in Tweet He Is Considering Taking Tesla Private

First, a final decision has not yet been made, but the reason for doing this is all about creating the environment for Tesla to operate best. Musk also faced intense public criticism after he suggested in a tweet that one of the rescuers of the Thai soccer team trapped in a cave was a pedophile .

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  • Iran's leader links talks with USA to lifting sanctions
Iran's leader links talks with USA to lifting sanctions

It will enable EU-based firms to recover damages resulting from the United States sanctions. Senior U.S. administration officials told reporters on August 6 that the United States supports the Iranian people but is not calling for regime change.

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  • China announces $60B of U.S. goods for tariff retaliation
China announces $60B of U.S. goods for tariff retaliation

Washington is expected to soon implement tariffs on an additional $16 billion of Chinese goods, which China has already announced it will match immediately. "I might think the US$ 60 billion is a weak response to our US$200 (billion)", he said, while admitting that "there is a lot they can do to damage our companies in China".

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  • Apple becomes first USA trillion dollar company
Apple becomes first USA trillion dollar company

The peak reached Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1. The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007.

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  • McDonald's to offer
McDonald's to offer "Mac Coins"

For instance, Swiss burger fans can come to the United States, stock up on Big Mac coins, then return to Switzerland, where they will be able to get a Big Mac for about a dollar less. "Clearly, we've gotten a little more sophisticated in our menu development", McDonald's CEO Steve Easterbrook said in a phone interview. 'So we wanted a global ...

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  • Elon Musk apologizes for brushing off analysts on past earnings call
Elon Musk apologizes for brushing off analysts on past earnings call

Tesla has set a more modest near-term production goal for the Model 3 , aiming to build 6,000 units per week by late August. Tesla said its gross margin on Model 3 cars turned "slightly positive" during the quarter, meaning the company was no longer losing money on every Model 3 it shipped.

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  • USA sanctioning Turkish officials over detention of American pastor - White House
USA sanctioning Turkish officials over detention of American pastor - White House

Secretary of State Mike Pompeo, on a plane to southeast Asia, phoned Turkish Foreign Minister Mevlut Cavusoglu on Wednesday to push the Turkish government to release Brunson, other U.S. Nato Supreme Allied Commander Europe General Curtis Scaparrotti arrived in Turkey on Wednesday for a visit aimed at easing tensions between Ankara and Washington ...

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  • Apple Flirts With $1 Trillion Market Cap After Strong Earnings Report
Apple Flirts With $1 Trillion Market Cap After Strong Earnings Report

There are lots of things to expect from Apple's upcoming quarterly earnings to stay tuned for the latest. The company took in $53.3 billion in revenue, up 17% year-on-year, and made $12.6 billion in operating income, also up about 17% year-on-year.

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  • Harley-Davidson rebels with an electric motorcycle
Harley-Davidson rebels with an electric motorcycle

The biggest Harley engines run at around 1,700 cubic centimeters and weigh more than 1,000 pounds - making the new lineup a significant departure from its signature HOGs . In January, the iconic motorcycle maker confirmed that it was injecting funds to meet its target of getting its first electric offering on the road within 18 months.

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  • USA trade talk: what has been agreed to
USA trade talk: what has been agreed to

We are partners and allies with common values and interests. In what the European Union chief called a "major concession", U.S. President Donald Trump agreed on Wednesday to refrain from imposing vehicle tariffs while the two sides launch negotiations to cut other trade barriers, easing the threat of a transatlantic trade war.

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  • Tech Podcast: Zuckerberg's riches take a hit as Facebook stock plunges : Bulletin
Tech Podcast: Zuckerberg's riches take a hit as Facebook stock plunges : Bulletin

Facebook shares dragged down some of the other social networks as well, including Twitter and Snap. After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent. It is even expected for growth rates to continue declining by "high single-digit percentages", and is said to happen each of t...

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  • Facebook loses $130 bn in just two hour, Zuckerberg $17 bn
Facebook loses $130 bn in just two hour, Zuckerberg $17 bn

In a sign of just how bullish investor expectations were, though, the collapse merely returned Facebook shares to a level last seen in early May. After falling overnight on Wednesday, Facebook shares were down as much as 19.6pc at $174.78 each in early trading yesterday in the United States, a decline that would wipe about $124bn off the co...

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  • USA to give farmers $12bn trade war bailout
USA to give farmers $12bn trade war bailout

China has announced retaliatory tariffs on various U.S. agricultural products, including soybeans, grains, meats and dairy products, as a response to Trump's plan to impose $50 billion in tariffs on Chinese imports. The 25% tariff on steel and 10% tariff on aluminum impact not only China, but traditional USA allies like the European Union, Can...

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  • U.S. to give farmers $12bn trade war bailout
U.S. to give farmers $12bn trade war bailout

The largest economic relationship anywhere in the world. U.S. stocks and bond yields rose on signs of optimism that a U.S. -EU trade war could be avoided. Trump continues to fight for a level playing field with America's trading partners, accusing them fo charging higher tariffs resulting in unfair trade.

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  • Trump assures farmers he has their back amid mounting trade war
Trump assures farmers he has their back amid mounting trade war

Last week, Mr. Trump threatened "tremendous retribution" if his meeting with the European Union officials doesn't lead to what he considers to be a fair auto-trade deal. But, Xi said, it should not be discarded "as long as it is rule-based, aims to be equitable and pursues win-win outcomes as its goals". Mr Kirchner said it was a clear indica...

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  • USA stocks are trading above and below unchanged levels at the opening
USA stocks are trading above and below unchanged levels at the opening

He also referred to America's expanding trade deficit with China as "wrong" and believes that "the problem is getting worse and worse". "We don't want to be with the tariffs", he added, saying they could hurt USA companies' ability to compete around the world.

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  • Rabobank: Chinese seafood industry bigger loser as trade war escalates
Rabobank: Chinese seafood industry bigger loser as trade war escalates

Brookings reported that the dip in the nation's economy symbolizes a mixture of anxieties related to trade and their drive to resolve their debt by selling their assets, as Trump has fulfilled his promise to impose tariffs on Chinese products.

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