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Turkish president says country will boycott iPhones

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Investors fear the country's financial crisis could spread, with Mr Erdogan describing the crash as a "political plot" against Turkey. And as Nicholas Colas , co-founder of DataTrek Research , wrote in a note Tuesday morning, the drop in the price of gold in the face of an emerging markets currency crisis reflects confidence that Turkey's problems will not spill over to the US economy or derail the Federal Reserve from raising rates. Read More »

Scott vs. Hallquist: AP calls both gubernatorial primaries

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The Democratic primary in Vermont was a fairly sleepy affair, with no big-name contenders to block a first-time candidate such as Hallquist. They have been reversed under Republican President Donald Trump's administration, a victory for religious conservatives who only recognize traditional gender roles. Read More »

Turkey accuses United States of 'stab in back' as currency woes persist

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Chanting "Damn America", they unfurled a banner saying "we will win the economic war", Demiroren agency said. "We (also) have our Venus and Vestel", he said about home-grown Turkish electronics brands. "This is no longer a dispute between the bureaucracies of the two countries". "We're working to set up a call between the president and the president of Turkey to reaffirm our strong bond", she says. Read More »

Scots unemployment rate down slightly to 4.2%

Young people also appear to be benefiting from the economic lift, with youth unemployment also at its lowest rate since record began in 1992. "This will not be what the Bank of England will have wanted to see, as one of the justifications for (its) decision to hike rates earlier this month was that it was expecting wage growth to start lifting off". Read More »

Erdogan says Turkey to 'boycott' United States electronic goods

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Turkish President Recep Tayyip Erdogan announced a boycott of American electronics Tuesday after US President Donald Trump's decision to hike tariffs on Turkish steel imports. What impact could the drop in the lira have on consumers in Hong Kong and NY? Several emerging market currencies have already taken hits, including the South African rand, Russian ruble, and Mexican peso. Read More »

Oil prices dip as demand outlook dims; Iran sanctions provide some support

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General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. The price was up nearly 1.4 percent at about $73.61 at 1205 GMT and US light crude was up 90 cents at $68.10. Phillip Futures said that hedge funds had cut bullish bets on oil because of "rising production levels from OPEC and the United States". OPEC expects non-OPEC supply to expand by 2.13 million bpd next year, 30,000 bpd more than forecast last month. Read More »

Tesla forms three-member panel to decide on any Musk deal

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Musk said that the director for the Saudi fund has requested financial details and other due diligence, including regulatory requirements, on taking Tesla private. PIF officials have said in the past that decisions at the sovereign wealth fund are made with care, emphasizing corporate governance. "I continue to have discussions with the Saudi fund, and I also am having discussions with a number of other investors, which is something that I always planned to do since I would like for Tesla to ... Read More »

Erdogan vows action against 'economic terrorists' over lira plunge

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Stocks were coming off their worst losses in a month as investors anxious about financial and economic upheaval in Turkey and the possibility it will spread to other countries. Erdogan said Turkey was facing an "economic siege", slamming the currency movements as an "attack against our country". "There is the World Trade Organization but when we look at these steps taken [against Turkey] does it have anything to do with the principles of World Trade Organization?" That suggests a ... Read More »

Authorities say firefighter killed battling Northern California

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Fire officials said notification of next of kin was in progress. Full containment is not expected on the until September 1, fire officials said. A mechanic helping to fight the Carr Fire near Redding in northern California was killed in a auto crash on Thursday, the eighth person to die in that conflagration. Read More »

Rupee Falls Sharply To Close At Record Low Against Dollar

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Suspected RBI intervention helped it recover from heavy losses, but heavy dollar demand pushed the rupee to close at an all-time low level of 69.91, a fall of Rs 1.08, or 1.57 per cent, over the previous close. What is adding to the pressure on the Indian rupee right now is the current meltdown in the Turkish lira . On Friday, the rupee had lost 15 paise to end at 68.83 against the resurgent dollar. Read More »

Turkish currency crisis adds to misery of Indian rupee

Multiple institutions announced Monday similar warnings against those responsible for the crisis. Turkey has so far refused to comply, prompting Trump on Friday to double the tariffs on United States imports of Turkish steel and aluminium, causing the lira to plunge. Read More »

United States stocks slide, USA dollar strengthens, over Turkey worries

Calling the Turkish foreign policy as "multi-directional" and "multi-dimensional", Cavusoglu said the country's embassies play active roles in "enhancing economic, commercial and cultural relations, especially in the defense industry". Echoing his father-in-law, President Recep Tayyip Erdogan , whose policies and rhetoric have hurt confidence in the Turkish market, Albayrak called the lira's weakness an "attack". Read More »

Turkey Financial Crisis: Stocks at Record Low as Lira Plunges Again

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The Turkish Lira has slide rapidly since the United States slapped sanctions on two Turkish ministers, and extended its slide Monday morning to a new record low, at over 6.8 to US dollar at the opening of European and Turkish markets. "We will give our answer, by shifting to new markets, new partnerships and new alliances, to the one who waged an economic war against the entire world and also included our country", Erdogan said. Read More »

Federal Bureau of Investigation seeks motive after Seattle plane theft

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In a statement, his family said his "intent was not to harm anyone", referring to audio recordings of Russell talking to air traffic control during the flight. On a SoundCloud site, Russell interviews fellow ground service agents, asking them questions that include: "What was one of your best travel experiences using your flight benefits?" The sheriff's department described Russell as suicidal. Read More »

World stocks hit one-month low as Turkish rout spreads

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At the same time, the government has launched a probe into individuals suspected of involvement in actions that threaten the country's economic security after President Recep Tayyip Erdogan said the lira's drop was "a political plot" against Ankara. Read More »

Asia shares dip as Turkey's lira tanks

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Erdogan renewed his call for Turks to sell dollars and buy lira to boost the currency, while telling business owners to not stockpile the American currency. Albayrak said budget discipline would be the most important foundation of Turkey's new economic approach and fiscal rules would be implemented for targeted indicators if necessary. Read More »

Former Tesla Engineering Chief Doug Field Returns to Apple

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At Apple , Field will re-join with Bob Mansfield, Apple's former senior vice president of technologies, who was tapped in 2016 to run Project Titan . He stepped away from the electric-car maker in May, and Tesla officially announced his departure in July. Apple's self-driving technology now is at the center of a lawsuit involving a former engineer who allegedly stole materials and brought them to a Chinese auto company. Read More »

Turkish Economic Crisis Shakes Global Economy

Finance Minister Berat Albayrak said in an interview with Turkish newspaper Hurriyet on Sunday that the government has drafted an economic action plan that it will start implementing on Monday morning. 'What is the reason for all this storm in a tea cup? Mr Erdogan ruled out the possibility of higher interest rates, which economists said are needed to stabilise the currency. Read More »

Seattle plane stolen by airport worker found destroyed

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A childhood friend remarked that Beebo was loved by everyone because he was kind and gentle to each person he met", Mathews said at the news conference. An airline employee's unauthorized takeoff from Seattle-Tacoma International Airport before dying in a crash will likely prompt a major review of already tightly controlled industry security measures, experts said Saturday. Read More »

Iraq PM to visit Iran, Turkey as US sanctions bite

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The comments come days after Mr Trump revealed new sanctions. Trump's determination to push ahead with sanctions on Tehran which also target European companies doing business with Iran has opened another battle front. Asked if British companies could expect Britain to stand its ground over deal, a British minister, Alistair Burt, told reporters last week, "They can expect us to do that, yes". Read More »

Saudi Arabia eyes enlarged stake in Musk’s private Tesla

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The country's Public Investment Fund, which has built up a stake of nearly 5 per cent in Tesla in recent months, is exploring how it can be involved in the potential deal, according to Bloomberg . Wall Street is awash with speculation on who might team up with Musk to do a deal. Although Musk has yet to prove that he has the funding to make Tesla private, Isaacs argues that Musk's tweets caused enough inflation and volatility that short sellers may already be out of hundreds of millions ... Read More »

Crocs closing last of its manufacturing plants

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The closure of its last plant, located in Italy , is also scheduled to close on a date that was not specified. It has not yet been confirmed where the Croc shoe manufacturing will take place and also in which country. The company, which launched in 2002, saw its share price half between 2014 and 2017, reaching a low of $5.94, presumably as the public came to realise that they are, in fact, plastic clogs. Read More »

Turkish lira plunges as Erdogan blames crash on 'political plot' against Ankara

And the Brunson case is just one of many bones of contention between Turkey and the United States, ranging from Syria to Ankara's increasingly cosy relationship with Moscow. It came as a Turkish delegation returned from the United States, reporting no progress on negotiations involving a US pastor imprisoned in Turkey. "As he stated, the president has authorized the preparation of documents to raise tariffs on imports of steel and aluminum from Turkey", White House Deputy Press Secretary ... Read More »

Trump praises Mexico, threatens Canada with auto tariffs via Twitter

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The U.S. -Mexico talks for a reworked North American Free Trade Agreement resumed three weeks ago, without Canada , after negotiations involving all three members of one of the world's largest trade blocs stalled in June. "We are organizing the items according to the degree of complexity and sunset clause is the very last", he said. "Will tax cars if can't make a deal!" Guajardo said that once bilateral U.S. Read More »