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Finance

Turkey's central bank took action Monday to free up cash for banks as the country grapples with a currency crisis sparked by concerns over President Recep Tayyip Erdogan's economic policies and a trade and diplomatic dispute with the United States.
  • China's restrained new tariff 'rational' - USA

    China's restrained new tariff 'rational' - USA

    Finance

    The Chinese Ministry of Commerce said it was "forced to do act" after Trump's threat earlier last week to raise a proposed tariff rate on US$200 billion worth of Chinese goods from 10 per cent to 25 per cent. China's Commerce Ministry said in a seperate statement Beijing's new set of proposed import tariffs on United States goods were rational and restrained.
  • Musk says going private would free Tesla

    Musk says going private would free Tesla

    Finance

    Musk's target for taking the company private would value it at more than $82 billion, according to Bloomberg . Musk did not disclose the source of the funding. In his typically unorthodox fashion, the eccentric Mr Musk dropped his bombshell on his Twitter account, which he has used as a platform for pranks, vitriol and now for a proposal to pull off one of the biggest buyouts in USA history.
  • China reveals plan to tax $60 bn worth American goods

    China reveals plan to tax $60 bn worth American goods

    Finance

    The bottom line: The tariffs do raise money for the US government, but it's a small amount - and it's mostly being paid for by Americans . His tweet Sunday comes after recent reports that China will impose tariffs on $ 60 billion of USA products, escalating a potential trade war .
  • Oil prices drop as U.S. inventory rises

    Oil prices drop as U.S. inventory rises

    Finance

    Brent crude , the global benchmark, shed 2.2 per cent to $72. OIL traded near $68 a barrel after sliding for two consecutive sessions as rising USA inventories and higher output from the Organization of Petroleum Exporting Countries ( Opec ) and Russian Federation weighed on the market.
  • US jobless rate ticks down to 3.9 percent

    US jobless rate ticks down to 3.9 percent

    Finance

    Job gains were seen in the durable goods manufacturing and health care sectors as well as in restaurants and bars. The jobless rate had risen in June from an 18-year low of 3.8 percent in May. Politically sensitive trade gaps with China, Mexico and Canada all increased, potentially setting the stage for even more sabre-rattling tweets from President Trump .
  • How the Bank of England’s interest rate rise affects you

    How the Bank of England’s interest rate rise affects you

    Finance

    The Bank of England's Monetary Policy Committee (MPC ) has voted unanimously to raise the Bank Rate from 0.5% to 0.75%. With five out of the six members voting for the increase, the Monetary Policy Committee (MPC) headed by RBI Governor Urjit Patel increased repo rate, at which it lends to other banks, to 6.5 per cent from 6.25 per cent now but kept its policy stance as "neutral".
  • Iran Guards says it held Gulf drills as US tensions rise

    Iran Guards says it held Gulf drills as US tensions rise

    Finance

    While the USA failed to persuade Beijing to stop importing Iranian oil, the Chinese government did say it would not increase the imports, according to Bloomberg , which cited two anonymous officials "familiar with the negotiations". On the back of renewed tensions between Iran and the USA, the Islamic Republic's President Hassan Rouhani delivered a thinly-veiled threat to hamper oil shipments in the Gulf.
  • Trump could raise tariffs further on Chinese goods

    Trump could raise tariffs further on Chinese goods

    Finance

    Geng said at a news conference, "we advise the United States to be level-headed and avoid simply acting on impulse". The asymmetric economic and financial performance of the United States and China has convinced the White House it has "escalation dominance" and should press home its advantage.
  • Every US Valuation Milestone Since 1781, Including Apple's Rise to $1T

    Every US Valuation Milestone Since 1781, Including Apple's Rise to $1T

    Finance

    As with other landmarks - such as the Dow crossing 25,000 points for the first time - the Apple record is significant because of its resonance beyond the financial universe. Apple Chief Executive Tim Cook has a trillion reasons to smile. Apple began in the garage of co-founder Steve Jobs more than 40 years ago. "The markets are starting to recognize the value of its platform and services more and more, and that's what is being reflected in the increase in market capitalization", ...
  • China warns of new tariffs on USA goods

    Finance

    Wang met with U.S. Secretary of State Mike Pompeo at a meeting of the Association of Southeast Asian Nations (ASEAN) in Singapore on Friday. The trade war between the USA and China is about to get more intense, as China says it is preparing to impose retaliatory tariffs on $60 billion worth of goods made in the United States.
  • Do's and Don'ts: WI sales tax holiday

    Do's and Don'ts: WI sales tax holiday

    Finance

    The sales tax was waived on purchases of clothing and school supplies of less than one-hundred dollars and on computers less than 15-hundred dollars. In 2017, the group said, 16 states conducted sales tax holidays . That will include most shoes, coats and jackets and baby clothes . This year, the state of Louisiana did not offer a tax free weekend which created extra shoppers heading down to MS to make their purchases.
  • Bank of England Raises Interest Rates to Highest Level Since 2009

    Bank of England Raises Interest Rates to Highest Level Since 2009

    Finance

    Laith Khalaf, a senior analyst at Hargreaves Lansdown, says: "Today's decision by the Bank of England to raise interest rates above 0.5% for the first time since the financial crisis is a symbolic one". Developers had discussed lowering GST and setting up a "Stressed Assets Fund" to complete stalled projects by providing lastmile funding, he said adding that the government should take decisions to enhance buyer sentiment.
  • Apple becomes world's first trillion-dollar company

    Apple becomes world's first trillion-dollar company

    Finance

    Meanwhile, Amazon had the second-largest US market cap as of Wednesday, which was around $872.5 billion, according to Business Insider. Jeff Carbone, co-founder of Cornerstone Financial Partners in Charlotte, North Carolina, has included Apple in his clients' portfolios for about a decade.
  • USA hits Turkish ministers with sanctions over pastor Andrew Brunson

    USA hits Turkish ministers with sanctions over pastor Andrew Brunson

    Finance

    Turkish President Recep Tayyip Erdogan has long cited a separation of powers to say that he has no control over his country's judiciary, although in the past he has expressed an interest in trading "pastors" with the United States. "Give him [Gulen] to us, and we will try [Brunson] and give him back", Erdogan said in September. Turkey's foreign ministry did not waste time in hitting back, saying: "There is no doubt that this will greatly damage constructive efforts working to solve the ...
  • Apple Earnings: Shares Gain 3% in After Hours

    Apple Earnings: Shares Gain 3% in After Hours

    Finance

    Revenue and earnings per share were both up (and over analyst expectations), and stocks have seen a modest bounce as investors jump back on the hype train. The company closed the day with a valuation of $935 billionーits next closest rival, Amazon , ended the day at $867 billion. Apple Pay has been used for more transactions than popular services Square and PayPal, Cook said.
  • Trade war fosters uncertainty, and that's no good

    Trade war fosters uncertainty, and that's no good

    Finance

    On July 24, the Department of Agriculture announced a plan to give $12 billion in aid to US farmers hit by retaliatory global tariffs on American produce, grain and meat exports. Trump had pressed European leaders hard on trade in recent weeks, including during his meetings with North Atlantic Treaty Organisation allies in Brussels.
  • Amazon's quarterly profits break $2bn barrier for first time

    Amazon's quarterly profits break $2bn barrier for first time

    Finance

    Its stock is already up almost 72 percent in the previous year, and Amazon is getting closer to surpassing iPhone maker Apple as the world's most valuable company. Chief executive and founder Jeff Bezos , whose Amazon stake has made him the world's richest person, used the quarterly update to highlight Alexa, the digital assistant that powers Amazon electronics along with cars, appliances and other connected devices.
  • Twitter's toxic avenging takes a toll on overall user counts

    Twitter's toxic avenging takes a toll on overall user counts

    Finance

    Twitter reported record profits and exceeded expectations for revenue in the second quarter , but a drop in user count due to the social network's efforts to remove bots and fake accounts and a miss on earnings per share sent its stock into a tailspin Friday.
  • Facebook just had the worst day in stock market history

    Facebook just had the worst day in stock market history

    Finance

    On start of play Thursday 26 July, when United States markets reopened, Facebook saw more than $109 billion (£83 billion) wiped off of its market valuation. Some shareholders are saying Zuckerberg has gripped too much power at the company. The company may have halted more ad purchases than expected as it applied a broad definition of what's considered "political".
  • Trump administration to announce financial assistance to farmers in wake of tariffs

    Trump administration to announce financial assistance to farmers in wake of tariffs

    Finance

    Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to US national security, an argument that the European Union and Canada rejects. While the US claims the retaliation was "illegal", the Trump administration has acknowledged it is doing damage to American farmers and announced Tuesday it will provide up to $ 12 billion in aid to farmers hurt by trade tariffs.