• Turkey’s president says country will defy economic threats
Turkey’s president says country will defy economic threats

Earlier this month, the Trump administration announced sanctions against Turkish leaders. Mr Erdogan, a self-described "enemy of interest rates", wants to lower borrowing costs despite high inflation. " The Europeans will maintain the existing objections to certain Erdogan policies and continue to voice their concerns, but that won't stop them fr...

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  • The Turkish lira tumbles to 5.86 over threat of more USA sanctions
The Turkish lira tumbles to 5.86 over threat of more USA sanctions

But while relations with the European Union are improving, there are no signs so far that Turkey or the US are willing to back down. Turkish President Tayyip Erdogan announced yesterday that the country would boycott all electronics from the USA amid tension and rising conflict between the two countries and its leaders.

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  • Turkey hits back at USA with tariff hikes on key products
Turkey hits back at USA with tariff hikes on key products

The Gulf state made the investment as Turkey grapples with a collapse in the lira and tensions with North Atlantic Treaty Organisation ally the United States. Turkey's economic crisis has deeper roots beyond the market reaction triggered by rising tensions with the US. The United States was the fourth largest source of imports to Turkey past ye...

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  • California Wildfires: Thoughtful Authorities Help Keep Pet Fish Alive After Homeowners Evacuate
California Wildfires: Thoughtful Authorities Help Keep Pet Fish Alive After Homeowners Evacuate

It has consumed 201,680 acres so far and is 61% contained. Despite losing everything they own, many of them still come to work to restore power, fight fires, and fix damaged facilities. Clark had his arraignment postponed until August 17, after making a freaky appearance in a Santa Ana court on Friday. Forrest Gordon Clark , 51, was charged with...

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  • Goldman, Silver Lake Advice Tesla On Going Private Plan
Goldman, Silver Lake Advice Tesla On Going Private Plan

Musk said he had the funding secured for a $420-a-share buyout sending the stock soaring. A statement Tuesday from Tesla's board said the special committee "has the full power and authority of the board of directors to take any and all actions on behalf of the board of directors as it deems necessary to evaluate and negotiate a potential ...

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  • Trump Vows To Double Metal Tariffs On Turkey
Trump Vows To Double Metal Tariffs On Turkey

President Donald Trump intensified his spat with Turkey on Friday by imposing higher tariffs on metal imports, putting unprecedented economic pressure on a North Atlantic Treaty Organisation ally and deepening turmoil in Turkish financial markets.

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  • Turkey’s Erdogan stands by opposition to high interest rates
Turkey’s Erdogan stands by opposition to high interest rates

While some are anxious that making an enemy out of Turkey will only result in grave consequences, others seem to have no qualms about walking away from America's alliance with the nation. Turkish President Recep Tayyip Erdogan on Saturday warned the USA that it risked losing a "strategic partner" due to demands made by the U.S. government that Turk...

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  • Iran ambassador: Trump's sanctions violate United Nations security council resolution
Iran ambassador: Trump's sanctions violate United Nations security council resolution

Even stronger sanctions targeting Iran's oil sector and central bank are to be re-imposed in early November. On Tuesday, the USA reinstated sanctions targeting the Iranian government's purchase of U.S. sanctions on European firms doing legitimate business with Iran. Hindustan Petroleum, which owns India's third-largest refinery, canceled an Irani...

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  • Musk says going private would free Tesla
Musk says going private would free Tesla

Beyond skyrocketing Tesla's valuation to over $70 billion at $420 a share, taking the company off of the public markets would relieve some of the pressures of having to report earnings and face volatility from traders, thus giving the company better financial footing.

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  • Harley-Davidson unveils $825M global growth initiative
Harley-Davidson unveils $825M global growth initiative

Harley-Davidson plans to develop a 250-500cc motorcycle through a strategic alliance in Asia that will be used to primarily fuel its growth in India, the world's biggest two-wheeler market. Livewire will be supplemented by small and lighter electric motorcycles in the years leading up to 2022. The small-displacement models will help increase Harle...

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  • Trump says NAFTA deal with Mexico must happen fast
Trump says NAFTA deal with Mexico must happen fast

A letter proposing rapid negotiation of a new NAFTA agreement focused on credit for fighting poverty and building infrastructure, was delivered from Mexico's President-elect Andrés Manuel López Obrador (AMLO) to President Donald Trump July 13, via Secretary of State Mike Pompeo, and is now on the website of the Mexican political leader.

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  • USA farmers: We need markets not cash handouts
USA farmers: We need markets not cash handouts

The newly-introduced tariffs had a particular impact on the EU-produced steel and aluminum, while US President Trump also suggested introducing a 20% duty on all European imported cars . "Are they truly going to get us a solution that will make things better?" The CCC will also use its Charter Act authority for a Trade Promotion Program admini...

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  • Trump Administration to Give $12 Billion to Farmers Caught in Trade War
Trump Administration to Give $12 Billion to Farmers Caught in Trade War

We were being nice - until now!" In our news wrap Wednesday, President Trump and the leader of the European Commission Jean-Claude Juncker say they've agreed to turn from tariffs to talks. "You've got to treat everybody the same". "As I travel the state I continue to hear Iowa farmers want more trade, not aid." . Some of Trump's fellow Repu...

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  • Tesla: asking suppliers for cash back is 'standard' negotiating strategy
Tesla: asking suppliers for cash back is 'standard' negotiating strategy

Tesla declined to comment on the memo, but did confirm that they have been seeking price reductions from suppliers for their recent projects. The leak came soon after Tesla announced it was cutting several thousand jobs as part of an effort to reduce costs.

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  • Trump says 'not thrilled' about interest rate hikes
Trump says 'not thrilled' about interest rate hikes

Beijing is targeting sectors, like agriculture, that could harm Trump politically at home, though he said in the CNBC interview that he is seeking to do only what is fair. In an apparent reference to Fed rate increases, Mr Trump added, "Tightening now hurts all that we have done". The White House also attempted to assuage fears of the preside...

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  • Tesla, China, Both to Benefit From 'Gigafactory' Deal
Tesla, China, Both to Benefit From 'Gigafactory' Deal

However, things are not in very great shape at the moment for Tesla in the US. Since the vehicle reservations exceeded the company's estimates, Tesla has embarked on an initiative to anti-sell the compact electric auto. The tariff-hike move by the Chinese government apparently underscores a retaliatory decision, resulting from the U.S. government...

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  • China says it won’t fire ‘first shot’ in trade standoff with US
China says it won’t fire ‘first shot’ in trade standoff with US

Instead, the summit is expected to produce a modest communique, which affirms the commitment of both sides to the multilateral trading system and promises to set up a working group on modernizing the WTO, EU officials said. China has issued a safety warning to its citizens travelling to the United States amid rising tensions between the sides over ...

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  • The inexorable decline of the Turkish lira under Erdogan
The inexorable decline of the Turkish lira under Erdogan

Turkey's national electoral board has declared Erdogan the victor of the country's presidential election with an absolute majority of valid votes. His party bitterly complained over the publication of the election results , accusing the state-run news agency Anadolu of publishing results favorable to Erdogan early on to give the impression of an...

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  • In tit-for-tat, Trump threatens more tariffs against China
In tit-for-tat, Trump threatens more tariffs against China

Shanghai stocks staged a modest 0.3 percent recovery after tumbling almost 4 percent on Tuesday to a two-year low, buoyed by soothing comments from the central bank chief and in state media, and a burst of share purchase plans. The S&P 500 index is rising 8 points, or 0.3 percent, to 2,771. Late Monday, Trump also announced he might pursue $200...

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  • Sheriff: Slain Kansas deputy identified
Sheriff: Slain Kansas deputy identified

The surviving deputy is female and is in critical condition. She initially was in critical condition following the shooting, but was pronounced dead during the overnight hours Friday into Saturday. The investigation is being handled by the Kansas City Police Department. Colón says he's "very confident it was a last-resort situation to ensure the ...

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  • US, China firms brace for escalating trade war
US, China firms brace for escalating trade war

Speaking alongside U.S. Secretary of State Mike Pompeo in Beijing, Chinese State Councillor Wang Yi said there were two choices when it came to trade. The second package will target the remaining $16 billion of Chinese goods , on 284 product lines. China's retaliatory tariffs will follow a similar schedule.

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  • Federal Reserve raises U.S. interest rates again
Federal Reserve raises U.S. interest rates again

While the course of interest-rate hikes remains gradual, the slightly more aggressive pace shows officials see more urgency to tighten policy, as unemployment already fell in May to the level they had forecast for year-end. That compares with March's forecasts for 3.8 per cent this year and 3.6 per cent in the following two years. Here's the ...

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  • North Korea: Trump agreed to 'step-by-step' approach to denuclearization
North Korea: Trump agreed to 'step-by-step' approach to denuclearization

Reaffirming the April 27, 2018 Panmunjom Declaration, the DPRK commits to work towards the complete denuclearisation of the Korean Peninsula ". "Summits were being set up [between USA presidents and] with Kim Jong Un's father Kim Jong Il in 1992, in 1994 and in 2006 and on each occasion they fell through".

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  • IHOP becomes IHOb, and the b is for burgers
IHOP becomes IHOb, and the b is for burgers

The global House of Pancakes, commonly known as IHOP , has officially switched its name. B stands for burgers, something that many people guessed would be the meaning of the temporary name change. "We'll certainly get back to promoting breakfast items some time after this", he said. The new IHOb Twitter account includes a cover image of the...

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  • U.S. reaches deal with China's ZTE, commerce secretary says
U.S. reaches deal with China's ZTE, commerce secretary says

Reuters reported Tuesday that under the preliminary agreement, ZTE would pay a $1 billion fine in addition to another $400 million in an escrow in case it commits future sanctions violations. ZTE also did not immediately respond to requests for comment. It paid $890 million in fines. "The Chinese public was up in arms because they believed the US ...

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