Vendredi, 17 Août 2018
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White House: tariffs imposed on Turkey's steel not related to Brunson

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The declaration comes as a trade war between the United States and Turkey has caused the Turkish currency, the lira, to plummet over the past few days, sending shockwaves throughout global markets. On Monday, the USA president signed a defense authorization act that notably prohibits the delivery of F-35 Joint Strike Fighter aircraft to Turkey if it buys Russia's S-400 air defense system. Read More »

Turkey doubles tariffs on some US imports over economy 'attacks'

Turkey is now in the middle of a severe financial crisis with the collapse of its currency in recent days. Turkey's exports to the United States previous year amounted to $8.7 billion, making it Turkey's fifth-largest export market. Crisis averted - or has it just been deferred? Brunson has lived in Turkey for 23 years, but his case has been taken up as a cause for the USA government. Read More »

Turks Break iPhones into Pieces in Response to Erdogan’s Call

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Turkish business groups are begging President Recep Tayyip Erdogan to make amends with the U.S.in an effort to save the Turkish economy, the Financial Times reported . Investors are also anxious about the effects of the dispute between two North Atlantic Treaty Organisation allies. "Significantly more than just official promises of action are needed to exit the current crisis", said Andy Birch, principal economist at IHS Markit, calling for "a sharp central bank rate rise". Read More »

Did Donald Trump use the N-word?

Manigault Newman got some backup on the N-word tape from fellow former Apprentice contestants Penn Jillette and Tom Arnold, and she also released a secret recording of Trump campaign officials talking about how to respond to a tape of Trump saying the N-word. Read More »

Turkey to raise tariffs on US goods

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The U.S. administration's policy does not only target the countries' economies but also the global economic equilibrium, harming its own interests, Kalın said . President Erdoğan said Tuesday that Turkey will impose a boycott against US electronic products amid an ongoing and deepening rift between the two North Atlantic Treaty Organisation allies over a number of issues. Read More »

Dollar rises to 13-month peak on anxiety over Turkey

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He said: "If they have the iPhone, there is Samsung elsewhere". Erdogan says Turkey is the target of an economic war, and has made repeated calls for Turks to sell their dollars and euros to shore up the national currency . "It's purely technical and Turkey needs a complete rebalancing of its economic business plan, and very sharp rate hikes and a strong commitment that the central bank will be independent", Credit Agricole's senior emerging markets strategist Guillaume Tresca told ... Read More »

Turkish president says country will boycott iPhones

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Turkey's president appeared to escalate a dispute with the United States that has helped foment a Turkish currency crisis, claiming Tuesday that his country will boycott US-made electronic goods. Speculators, sensing an opportunity to make a quick profit, have piled into the market, "shorting" the lira and the Turkish stock market, that is, betting that they will fall further. Read More »

Turkish Finance Chief Says ‘Action Plan’ Set To Ease Market Turmoil

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Why are Turkey and the U.S. at odds? Erdogan has been repeatedly photographed with Apple products including the iPhone and iPad. "The energy complex is being increasingly jostled by fresh daily headlines that don't necessarily have much effect on current supply or demand on a short term basis but could dramatically affect oil balances when looking down the road just a few months", he said. Read More »

Turkey takes action in bid to curb currency crisis

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The lira stood at 6.89 against the USA dollar at 1511 GMT - after Erdogan's comments - up from a record low of 7.24 to the dollar reached in early Monday trade. The Dow Jones Industrial Average slid 125.44 points, or 0.5 per cent, to 25,187.70. All in all, the total share of euro area exports to Turkey was 2.4% in 2016 This means that if Turkey's economy shrank by 10% (while not our forecast it is not by any means impossible - after all, its economy contracted almost 15% in the year ... Read More »

Trump doubles metal tariffs on Turkey as lira falls by 20%

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Andrew Craig Brunson , an evangelical pastor from Black Mountain, North Carolina, arrives at his house in Izmir, Turkey , Wednesday, July 25, 2018. Turkey wants Brunson to stand trial. It argued that the country accounted for less than 2 percent of group revenues and a 10 percent fall in the lira would affect its CET1 ratio - capital that must be set aside as a buffer against financial shocks - by only around 2 basis points. Read More »

Oil tumbles on slowing Chinese demand, U.S.-China trade spat

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Meanwhile, the production of Syncrude Canada's offline on its sands facility is impacting the market. Global benchmark Brent crude was trading at $74.44 a barrel at 12:32 p.m. US refineries produced about 9.9 million barrels of gasoline a day last week, down by about 600,000 barrels compared to the prior week. Anas Alhajji, an energy economist based in Dallas, Texas, told Xinhua that "Unlike the past, USA weekly crude oil inventories have become extremely sensitive to U.S.net ... Read More »

Tesla wants to go private

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I own about 20% of the company now, and I don't envision that being substantially different after any deal is completed. In his typically unorthodox fashion, the eccentric 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 US history. Read More »

RBI increases key rate to 6.5% on inflation worries

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It also seems unlikely the United Kingdom will return to interest rates of 5% and above. Similarly, the reverse repo rate, at which it borrows from banks, was also raised by a similar proportion to 6.25 per cent. The BOE's reading of market rates now signals that another 25-basis-point increase isn't likely until the first quarter of 2020, compared the third quarter of 2019 seen in the previous round of forecasts . Read More »

Apple is the first USA company with $1 trillion market cap

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As bullish as Jackson is on Apple , he admitted China ー and consumers in other countries ー may stunt the company's growth because the iPhone faces competition from cheaper smartphones. The handsets account for more than half of the Cupertino-based company's revenue. Its stock has soared 9% since Tuesday when Apple's third-quarter earnings exceeded Wall Street's expectations. Read More »

$1,000,000,000,000 - Apple becomes first tech firm to cross this milestone!

Cook's ambivalence to the $1 trillion mark mirrors what he told CNN's Laurie Segall in June . Apple is the world's most popular tech brand out there, no-brainer. It did not reach the $100 billion mark until May 2007, but five years later the technology giant reached a value of $500 billion. True, Apple's earnings growth rate is slowing down. Read More »

Apple becomes world's first trillion dollar company

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And with shares priced at just 15.2 times expected earnings, the market has adjusted to the new reality. Perhaps the $1 trillion club will be getting a new member at some point this year. Last month, an ex-Apple engineer was charged in California with stealing trade secrets from a hush-hush self-driving auto technology project days before he quit to go to a Chinese start-up. Read More »

Google gives up and creates evil search engine for the Chinese

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China blocks a large amount of information from their citizens such as political information, certain elements of Chinese history and other free speech related topics. A final version of the app could be launched within six to nine months, it said. In the company's absence, Baidu Inc. has strengthened its grip on search in China while Microsoft Corp.'s Bing operates in the country by censoring subjects and words. Read More »

Apple becomes first American public company to cross $1 trillion in value

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Microsoft helps Apple survive with a $150 million investment. But given Apple's fundamentals and its reasonable valuation, the trillion-dollar market cap looks a lot more like a milestone than it does a wall. Watch Apple trade in real time here . Apple's previous quarter was equally bullish with Cook reporting the firm's "best March quarter ever". Read More »

Bank of England raises Bank Rate to 0.75%

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Several economists have challenged the need for a rise now, given not only the Brexit risks but also the potential damper on global growth from U.S. However, existing home loan borrowers will not be immediately affected as they will continue to pay their existing interest rates until next reset date of their loan arrives. Read More »

Made in China - Trump re-election flags may get burnt by his tariffs

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U.S. Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture will take several actions to assist farmers in response to trade damage from unjustified retaliation, South Carolina Department of Agriculture Communications Director Sally McKay said in a recent news release. Read More »

Vehicle nations mull meeting without USA to discuss threat of tariffs

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President Trump may have struck a deal with the European Union to drop trade barriers and increase the number of US imports, but some American farmers remain uncertain about what that means for their businesses. He tore up an agreement to join a Pacific trade pact, has threatened to pull out of NAFTA, and imposed steel and aluminum tariffs aimed at China. Those include "zero tariffs" and to "reduce barriers and increase trade in services, chemicals, pharmaceuticals, medical products, as ... Read More »

Trump Declares Victory for Farmers in Trade Spat with EU

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A pan-European Business Confederation on Thursday applauded the trade relations agreement. "A good trade discussion can only take place on clear grounds and cannot move forward under pressure", Mr Le Maire said, reiterating that it would be impossible to negotiate an over-reaching deal covering all trade between the United States and Europe. Read More »

Facebook Sued after Stock Plunge

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The damage was swift and unforgiving in after-market trading on Wednesday as Facebook plummeted as much as 24% within an hour. "While those actions might take time to play out, it is still possible that threatened fines associated with GDPR to Facebook or other sellers of advertising could also have the effect of spooking advertisers into changing how they use data", said Wieser, who thinks the shares should be worth $140 United States - well below Thursday's level. Read More »

Trump suggests cutting all tariffs ahead of key meeting with EU

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The move would be the first expansion of U.S. tariffs on Chinese goods since a similar tax was imposed on US$ 34 billion worth of goods on July 6. "They sound nice, but they're rough". goods, and have filed complaints against Washington at the World Trade Organisation. Of course, any bids to relax barriers and increase trade, on either side, are in the overall interests of U.S. Read More »

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

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If the share drop holds on Thursday, it would be Facebook's largest single-day decline, topping a 12 per cent decrease in July 2012. "They're talking about currency headwinds, but more we think it's due to slower user growth given GDPR and more focus on privacy", Morningstar analyst Ali Mogharabi said . Read More »

Trump suggests no tariffs between US, Europe

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He said the world is "still in wait-and-see mode" on auto tariffs, citing recent articles saying Trump wants to impose them . Tuesday evening , hours before the meeting was to take place, Trump tweeted that he hoped the us and the European Union could agree to "drop all Tariffs, Barriers and Subsidies". Read More »

USA farmers to receive up to US$12B in trade war relief

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During a briefing, USDA officials said details would be released in the next couple of weeks. "Our biggest exposure, our biggest unmitigated exposure, is really steel and aluminum when you look at all of the commodities", GM CEO Mary Barra said Wednesday. Read More »

Donald Trump calls on European Union to 'drop all tariffs'

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As U.S. soybean farmers have struggled against retaliatory tariffs, Juncker said the European Union "can import more soybeans from the U.S. and it will be done". "That was my main intention, for those to come down to zero tariffs on industrial goods". China has retaliated with duties on soybeans and pork, affecting Midwest farmers in a region of the country that supported the president in his 2016 campaign. Read More »

Trump plans a 25-percent tariff on all auto imports

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Ben Sasse, a Republican , criticized what he called a bailout, and the administration's underlying trade policy. Both the United States and European Union drop all Tariffs, Barriers and Subsidies! In Alaska, the Anchorage Daily News said China's retaliatory tariffs on US exports, and the Trump administration's new tariffs on Chinese seafood, would cost American consumers and Alaska fisheries hundreds of millions of dollars. Read More »

ENC farmers react to Trump farm aid

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Mr Trump has said his tariffs - which he described in a Tweet as "the greatest " - are meant to pressure countries to change their policies toward United States exports. Senators say the aid package could help short-term , but they're anxious about losing long-term access to export markets. Added Kevin Skunes, North Dakota farmer and president of the National Corn Growers Association, "We know the package won't make farmers whole but look forward to working with USDA on the details and ... Read More »

Dollar Recovers After Trump Comments

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The comments follow his criticism Thursday in an interview in which he called the rate hikes a threat to the USA economy. Washington has already said it was targeting another $200 billion in imports which would see fresh tariffs imposed on Chinese goods by September. Read More »

Gold slips to 1-year low

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In Tokyo, the Nikkei 225 rose 0.94 percent, adding to three prior consecutive sessions of gains and leading gains in the region. Chinese shares extended losses after dropping the previous day on soft economic data . Overseas, in Japan, markets climbed 0.4%, while in Hong Kong, the Hang Seng index faltered 0.2%. Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy and expects to keep raising interest rates gradually. Read More »