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Erdogan tells Turks to buy plunging lira as Trump doubles metals tariffs

In a tweet, Trump cited the decline in Turkish currency as justification for increasing tariffs to 50 percent on Turkish steel and 20 percent on Turkish aluminum. The Turkish lira fell 13 percent to 6.51 per dollar. President Trump's discarding of the Iran nuclear deal is a point of contention, as well, as almost half of Turkey's oil imports come from Iran, meaning new sanctions against Iran come back and hurt the Turkish economy as well. Read More »

As US and Turkey break up, experts warn of unsafe ramifications


President Trump's announcement Friday morning that he has authorized the doubling of tariffs on steel and aluminum imports coming from Turkey came in a tweet that noted, "Our relations with Turkey are not good at this time!" Mr Trump has castigated Turkey for detaining American pastor Andrew Brunson , who is on trial for terrorism charges for allegedly associating with plotters of the failed 2016 coup against Mr Erdogan. Read More »

Erdogan calls on Turks to buy lira 'in response to economic war'

Turkish President Recep Tayyip Erdoğan struck a defiant note in a series of Twitter messages shortly before Trump's announcement. The currency's slide deepened early Friday, after the Financial Times reported that the eurozone's chief financial watchdog was concerned about how some of Europe's biggest lenders would be affected by a crisis in Turkey. Read More »

McDonald's offering chance to win McGold Card, free food for life


The fast-food chain will soon be giving its loyal customers the chance to win the fabled McDonald's McGold Card, which awards the lucky victor free McDonald's for life . Digital at McDonald's. To enter the sweepstake, customers need to use the app to make an order between the 10th and the 24th of August. No matter how you might feel about McDonald's, the chance to get free McDonald's for life is a hell of a deal. Read More »

Bitcoin Price In Free Fall After SEC's ETF Delay


The SEC have now extended their deadline to the 30th of September 2018, this has been decided in order to give the agency more time to ponder the Bitcoin ETF , in order to explore its effects and of course, in order to explore notions of regulation and other restrictions that could be imposed by the SEC. Read More »

Bitcoin & Ripple Technical Analysis - Charts Point to Further Losses


Bitcoin price fell sharply and it is now trading above the key support at $6,000. Ethereum Classic is becoming a trending cryptocurrency after Coinbase launched ETC trading on Coinbase PRIME and PRO platforms recently . However, buyers faced a strong resistance area near $6,620 and the 21 SMA. This comes after Bitcoin touched an all-time high of around $20,000 in December previous year, only to fall into a slump as 2018 progressed, dropping to below $6,000 in June. Read More »

Erdogan warns of campaign against Turkey as lira plummets


Waves from the crisis spread overseas, with investors selling off shares in European banks with large exposure to the Turkish economy. Tukey's Treasury and Finance Minister Berat Albayrak speaks at an event introducing the "new economic model" at the Dolmabahce Palace in Istanbul on Aug 10, 2018. Read More »

Ryanair pilots strike in Germany and elsewhere in Europe


Nearly 400 flights have been grounded across Europe, with that figure set to rise sharply with pilots in the Netherlands deciding to join the walkout yesterday. Unions have strongly condemned what they see as Ryanair's attempts to play countries off against each other. The unions want the contracts of Ryanair employees to be governed by the laws of the nation where they are based, not by Irish legislation. Read More »

U.S. sanctions 'categorically unacceptable,' says Putin spokesman


The news came as Republican US Senator Rand Paul said he had delivered a letter from US President Donald Trump to Russian President Vladimir Putin proposing cooperation. Russian Finance Minister Anton Siluanov said the government and central bank had the tools to maintain financial stability and would use them if necessary. Read More »

Saudi Arabian Airlines Suspending Flights To and From Canada


Dozens of students will be impacted in Calgary by Saudi Arabia's decision to withdraw its citizens studying under scholarships at Canadian universities. Foreign Affairs Minister Chrystia Freeland said Monday the Canadian government will continue to raise its voice and defend human rights. It went on to "urge the Saudi authorities to immediately release them and all other peaceful human rights activists". Read More »

Suzuki Motor, Mazda, Yamaha admit false emissions data


The three automakers admitted conducting improper inspections after the ministry ordered 23 Japanese auto and motorbike manufacturers to examine their inspection procedures in July after similar falsifications were found at Nissan Motor Co. Read More »

Ikea India launches with Hyderabad megastore


IKEA officials reportedly visited over 1000 homes of various sizes belonging to different income groups to understand the needs and aspirations of Indians. Not only that, 20% of their products will be locally-sourced as well and will be in tandem with Indian choices. For eg, a set of knives and forks has been replaced by a set of spoons, their cabinets and countertops display section is kept at a lower level so that Indian women, who are shorter than their European counterparts can assess ... Read More »

NYC votes to cap Uber and Lyft vehicles


New York Mayor Bill de Blasio said he meant to sign the bills into law, which would start the 12-month period where no new for-hire vehicle licenses would be issued, with an exception for wheelchair-accessible vehicles. "It would also allow the Commission address incomes for app-based drivers, 85 percent of whom now make below minimum wage". Although a number of cities have tried to shut down Uber and Lyft altogether, or attempted to force the companies to operate exactly the same as ... Read More »

United States to slap 25% tariffs on another US$16b in Chinese goods


But it held off on a final $16 billion as a result of concerns raised by USA companies. July's trade data was under the spotlight as it was the first reading since fresh USA tariffs on a wide range of Chinese goods went into effect. Over the weekend, Trump said he had the upper hand in the trade war, while Beijing responded through state media by saying it was ready to endure the economic fallout. Read More »

First round of United States tariffs on Chinese goods to hit $50B - USTR

President Donald Trump has suggested he may tax effectively all imports of Chinese goods, which reached more than $500 billion a year ago. That was off slightly from June's 13.6% rate but still stronger than China's global export growth. Additionally, an executive from China's Dongming Petrochemical Group said at the time that he expected Beijing to soon impose the tariff on USA oil imports. Read More »

Elon Musk isn't kidding, Tesla board confirms TSLA could go private


Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long term. Musk has downplayed the power of the tweets he launches at all hours to his 22 milion Twitter followers: "My tweets are literally what I'm thinking at the moment, not carefully crafted corporate bs, which is really just banal propaganda", he said in June. Read More »

Failure to reach Brexit deal looking more likely, says United Kingdom minister


After reporting a 5 percent rise in first-half profit before tax, the lender said it remains cautiously optimistic for global growth in the remainder of the year. Meanwhile, Labour's Brexit policy will be challenged by its members. May's office said in an emailed statement Sunday that while the government is "confident" of securing a deal, "it is the job of a responsible government to prepare for all scenarios". Read More »

SoftBank-backed Ola launches in the United Kingdom to challenge Uber


After Ola's lead investor, Japanese conglomerate SoftBank , became the largest investor in Uber following a large secondary share purchase a year ago, speculations were rife that Uber could eventually merge its India operations with Ola. Ola further said that it will become the only app in the British market to offer services across both private hire vehicles (PHVs) and black cabs . Read More »

Sales slump worsens at Papa John's


Ritchie said that Papa John's made the decision to distance itself from Schnatter after he said in November that the National Football League protests hurt sales. During a conference call with Wall Street analysts, Ritchie said the company's internal research had shown the need to move away from marketing campaigns centered on one person, such as the chain had used for years under Schnatter's leadership. Read More »

Experts Cast Doubt on Musk’s Envisioned Buyout of Tesla


Tesla did not immediately respond to a request for confirmation or clarification. Tesla stock was halted for more than an hour and a half and resumed trading up 11 percent to $380.60 as of 3:49 NY. "In 2013, the SEC made it clear that people could use social media to disclose significant information about their companies, but they had a caveat, which is people need to know where to look", Pitt said. Read More »

Oil prices rise as USA renews sanctions against Iran


EDT and U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 27 cents at $69.28 a barrel. "It certainly is a reminder to everyone that the serious about sanctions, and it's doubtful they will grant waivers", said John Kilduff, partner at Again Capital Management in NY. Read More »

BURP ALERT - Ford to roll out buck-a-beer plan Tuesday


The lower minimum price will not apply to draft beer and won't include the bottle deposit. That will be in place by the Labour Day weekend, said a source. The move is voluntary for the province's 260 brewers, and has raised questions about how many will actually implement cheaper prices given higher costs since beer was last allowed to be sold at $1 - a decade ago. Read More »

Cleaning crews discover dead fetus in plane at LGA


NY reported the plane, flight number 1942, departed Charlotte, NC on Monday night and arrived at LaGuardia late Monday night. Fetus was thought to be 5 months along . They instead turned all questions over to the Queens District Attorney's Office which is yet to make a statement. The account later tweeted to a frustrated customer that planes may be delayed "due to the medical needs of a customer". Read More »

Elon Musk considers taking Tesla private as stock jumps

The company is now valued at just over $60 billion, with Musk holding an nearly 20 percent stake in the company. " Funding secured ", the tweet added, offering no further details on timing or source of funding. Tesla's shares were up 6.5pc at $363.46. It was not clear if Musk was serious as he has a history of erratic tweets, and the company did not immediately respond to request for comment. Read More »

Ferrero, Nutella maker, is hiring 60 taste testers


The company needs 60 part-time "sensory judges" to try its products. Per the Local , Ferrero is hiring dozens of "non-professional" testers to help them test ingredients at their Italy headquarters in Alba, Piedmont. According to the Local , the requirements are that candidates have no allergies and are familiar with using a computer. The role, which begins 30 September, has a "competitive salary" for just four days work. Read More »

China unveils additional retaliatory tariffs on $60bn of U.S. goods


The two countries have been embroiled for months in a trade conflict that has threatened to hurt consumers in both countries. Neither side is showing any sign of backing down. Including the new tariffs already in force, China has now identified nearly 6,000 items for higher import taxes, including liquid natural gas, soybeans, and other products. Read More »

Facebook asking U.S. banks for customers' financial info


People familiar with the matter told the Journal that Facebook has considered a feature that would show its users their account balances while it also pitched fraud alerts. The social media giant is facing lawsuits over the debacle in the United States and the United Kingdom, is being investigated by various agencies and has inspired a handful of data privacy bills in both the House and the Senate. Read More »

CEO Brian France Name-Drops Donald Trump During Reported Arrest — NASCAR Rumors


France reportedly name-dropped President Donald Trump during the process of the arrest. He was arraigned Monday at Sag Harbor Village Justice Court and released. The president's relationship with the company goes back some years, to a proposed Trump Motor Speedway in Bridgeport, Connecticut . France's grandfather Bill founded NASCAR in 1948, and his father ran the organization from 1972-2000. Read More »

Mega Millions: Spontaneous office pool won $543 million jackpot


The group didn't usually form an office pool but chose to buy a ticket for the July 24 drawing on a whim, according to a statement from the California Lottery. The rest of the winners declined to be named and would not say the name of their company. "We have a good time and want to stay together". Reyes was the lone member of the group the lottery identified. Read More »

5 people killed in Orange County plane crash ID’d


The FAA will investigate and the National Transportation Safety Board will determine the cause of the accident. The plane struck a parked vehicle but no one on the ground was injured, he said. "There was no fire, no flames, no smoke, nothing". Emma Gonzales, who works at the Buffalo Wild Wings in the strip mall, said she felt the building shake. Read More »

PepsiCo CEO Nooyi to step down, Ramon Laguarta to succeed


Mr Laguarta will take over from Ms Nooyi on October 3 and will also join the board, the company said in a statement . Laguarta will take over on October 3 and will also join the board, the company said in a statement. Nooyi was named as Fortune's second most powerful woman in business previous year, coming after chairman and CEO of General Motors, Mary Barra. Later taking to Twitter, she said, "Today is a day of mixed emotions for me". Read More »

Ethereum Classic [ETC] hikes above 14% post the Coinbase announcement


The date should be considered as an estimate and not a finality. According to the announcement , the company believes this phase will be completed by Tuesday, August 7, at which point it'll start accepting inbound ETC transfers. Coinbase Index will add ETC by rebalancing, as all the assets listed on Coinbase Markets are listed on the Coinbase Index following a defined methodology. Read More »

Trump promises to stay the course on tariffs

The Trump administration ramped up pressure for trade concessions from Beijing this week by proposing a higher 25 per cent tariff on $270 billion worth of Chinese imports. "I told you, some people say, there has been more than 30 phone calls between Trump and Xi". Last month, the International Monetary Fund warned that escalating trade conflicts following US tariff actions on its trading partners threaten to derail the global economic recovery. Read More »

Profits up at IAG but French air traffic control strikes take toll


Another challenge facing the group is industrial action and as part of that IAG has joined rivals Ryanair and EasyJet in filing a complaint with the European Commission about strikes by French air traffic controllers. At current fuel prices and exchange rates, IAG still expects its operating profit for 2018 to show an increase year-on-year. However, the future of Level may well be thrown into doubt should IAG complete its proposed takeover of Norwegian. Read More »

Five dead in Southern California plane crash

There was no fire and nobody on the ground was hurt, he said. Authorities say a small airplane has crashed near a Southern California mall parking lot. The Orange County Fire Authority and Costa Mesa fire units were on scene in the 3900 block of Bristol Street in Santa Ana, which is near South Coast Plaza. Read More »

RBS profits nearly wiped out on USA fine


The interim dividend is subject to the bank finalising the penalty with the US Department of Justice. After June's £2.5bn share sale, the government owns 62.4% of RBS. It comes as RBS reported a first-half attributable profit of £888m - down nine per cent on same period a year ago, largely down to the £1bn charge related to DoJ settlement, which was announced in May. Read More »

Canada Overcomes Trump's Metal Tariffs With Record Exports


This led to a 36.8 percent decline in exports of affected steel products to the U.S., following a spike in previous months. A dip in auto exports and rising oil prices in June drove the increase in the gap between U.S. President Donald Trump's administration imposed tariffs of 25 per cent on steel and 10 per cent on aluminum in June, predicated on national security considerations; Prime Minister Justin Trudeau's government retaliated dollar-for-dollar on July 1. Read More »

WhatsApp starts charging business users


As Facebook shares tanked and Mark Zuckerberg's firm saw $150bn wiped off its value last week, the firm now hopes WhatsApp , which it bought for $19bn in 2014, can make it money. Facebook has always been testing ways to make money from WhatsApp , which it bought in early 2014 in a deal valued at $19 billion. The company said ads were not part of his plan at the time, at least not until the user base clocks 2-3 billion people; but it seems we are fast approaching that time or it is actually ... Read More »

Rising Supply Dents Oil Gains


Futures in NY were little changed, following a 3.5-percent slide in the past two sessions. ANZ bank said on Friday in a note the drop in Cushing inventories were a driver for rising crude oil prices "amid signs that last week's (overall) build in inventories won't last very long". Read More »

Ryanair proposes mediation in pilot strikes row


Ryanair's directly-employed pilots in Ireland will join colleagues in Sweden and Belgium on strike on August 10, the fifth one-day walkout in the airline's home market. Irish has told over 300 pilots and cabin crew that they may lose their jobs as it cuts its Dublin-based fleet by 20 per cent for the winter season after recent strikes hurt bookings and airfares in its home market. Read More »

China rejects USA demand to reduce Iran oil imports


With tensions high ahead of the return of United States sanctions on Tuesday, the government of President Hassan Rouhani also faces opposition from conservatives and religious leaders, who have long disliked his outreach to the West and accuse him of governing only for the rich. Read More »

Foodora condemned for closing Australian operation during back pay dispute


The union said in March it was taking two cases to the Fair Work Commission , Australia's national workplace relations tribunal, alleging Foodora unfairly sacked two delivery riders. And because it allegedly paid the workers contractor rates rather than employee rates, it had underpaid their minimum law wage rates and other payments. Read More »

Steve Jobs lied about naming Apple Lisa after daughter


I was three years old; I didn't . In excerpts released to Vanity Fair , she admits that their reconciliation wasn't of the kind you see in movies, and it certainly didn't help erase all those bad memories that piled up through the years. "'You're not getting anything, ' he said. My existence ruined his streak", she wrote. Lisa claims she once overheard her mother tell her boyfriend that whenever Steve got a scratch on his Porsche, he would get a new one. Read More »

FCA makes official trade complaint to block Jeep-like Mahindra Roxor


The compliant filed on August 1 at US International Trade Commission claims Roxor to have violated key elements of Jeep such as the boxy body structure with flat vertical sides and rear body ending with the same height as the bonnet. On one hand, the Roxor does a very close imitation of the Jeep CJ-5, but on the other, few people shopping for an authentic Jeep Wrangler will be satisfied by an off-highway-only machine with limited weather protection and a top speed of 45 miles per hour. Read More »

McDonald's Salads Are Now Linked to 395 Illnesses in 15 States


To date, 15 states are involved in these cases of illness: Connecticut, Florida, Iowa, Illinois, Indiana, Kentucky, Michigan, Minnesota, Montana, Nebraska, Ohio, South Dakota, Tennessee, Virginia and Wisconsin. Symptoms include diarrhea, vomiting, fever and body aches. Fresh Express reported that the positive sample of salads containing romaine lettuce was not for direct retail sale as they have expired already and the carrots used in the salad mix were only distributed to McDonald's ... Read More »