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US, Turkish leaders feud over arrest

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The lira has staged a small recovery but that is threatened by a fresh tweet from US President Donald Trump . The lira has lost almost 40 percent of its value against the dollar this year as investors fret about President Tayyip Erdogan's influence over monetary policy . Read More »

Bad news for commuters as rail fares set to rise by 3.2%

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Both the RMT and train drivers' union ASLEF criticised the likely fare rises. The price increase excludes unregulated fares - first class tickets and advance purchase tickets - which aren't overseen by the government . "Ever more out of touch with reality, Grayling is putting the boot into railway staff who are now working flat out to support passengers during the biggest rail crisis in British peace time history". Read More »

Turkey will emerge stronger from lira crisis despite row with U.S.: minister

Investors, already anxious about Turkey's economy, were irked by a diplomatic and trade dispute with the United States over the continued detention of an American pastor Andrew Brunson on espionage and terror-related charges. Investors also fret over Erdogan's influence over monetary policy. Additional US sanctions against Turkey could be imposed if Mr Brunson is not freed. Read More »

Why Google doesn't stand a chance in China's search market

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It used to have a censored version of the service in the country, but pulled out in the face of heavy criticism in 2010. Google chief executive officer (CEO) Sundar Pichai told employees at a meeting that plans to re-enter China with a search engine are "exploratory" and in "early stages". Read More »

Turkey has more to ‘lose’ in Apple boycott

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The lira weakened as far as 6.0600, bringing its losses against the dollar this year to 37 percent as worsening relations between the North Atlantic Treaty Organisation allies added to losses driven by concerns over President Tayyip Erdogan's influence over monetary policy. Read More »

Solar business: China wants WTO action against US

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President Donald Trump over trade and technology. President Donald Trump said on Wednesday his tariffs on foreign steel are saving the US industry and he predicted that in the future American steelmakers will mostly face domestic competition, the Wall Street Journal reported. Read More »

Italy says death toll will mount in Genoa bridge collapse

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The highway had already undergone significant maintenance in the 1980s and 1990s. "I have gone over this bridge hundreds of times, and I commit to digging and finding out who is responsible for an unacceptable tragedy, because it's not possible that in 2018 you can work and die in these conditions", he said . Read More »

Ontario to begin legal marijuana sales with online-only model

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Ontario plans to begin licensing some private retailers to sell marijuana as early as next April but Attorney General Caroline Mulroney says that her government has no plans to permit dispensaries that have been flouting existing laws to participate in the legal market. Read More »

Chinese EV startup Nio files for $1.8 billion IPO

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NIO named a target raise of $1.8 billion, though the target listed on a first filing is typically an estimate used to determine expected fees and is updated with a more solid number in subsequent filings. The joint underwriters include Morgan Stanley, Goldman Sachs, J.P. Morgan, Bank of America Merrill Lynch, Deutsche Bank Securities, Citigroup, Credit Suisse, UBS Investment Bank and Wolfe Capital Markets and Advisory. Read More »

US Condemns Turkey's New 'Regrettable' Tariffs

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The Turkish tariff increases amount to a doubling of the existing rate, the state-run Anadolu news agency said, in an apparent parallel response to Trump's move. Turkish Finance Minister Berat Albayrak hosted a conference call with global investors on Thursday in a bid to reassure them that policymakers are able to tackle a dip in the Turkish lira. Read More »

Markets rattled as Turkish lira dives

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He urged Turks to buy local or Korean mobile phones, instead of American iPhones. Erdogan showed no signs of heeding their advice, calling on Tuesday for a boycott of USA consumer electronics. In New York , however, the Dow, S&P 500 and the Nasdaq all posted gains of at least half a percent, with analysts reporting that investors were less anxious about Turkey's crisis affecting other emerging economies. Read More »

Turkish courts release detainees but reject U.S. pastor's appeal

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This tariff hikes came after Turkish President Recep Tayyip Erdoğan's announcement on 14 August of a boycott on U.S. electronics goods, with Erdoğan advising explicitly against the purchase of iPhones , encouraging citizens to instead use Samsung and Turkish-made Vestel phones. Read More »

Indian currency printed by Chinese firm? AAP takes on Modi government

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Not to mention making it easier for Pakistan to counterfeit. An article in South China Morning Post titled, " Why other countries are giving China a licence to print money ", has said that a Chinese state-owned company, China Banknote Printing and Minting Corporation , has been contracted to print currencies on huge scale of global countries including that of India. Read More »

UK unemployment at lowest level since 1975

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The number of European Union nationals working in the United Kingdom fell by 86,000 to 2.28 million between April and June compared to the same period a year ago. Output per hour worked grew by 1.5 per cent year-on-year in the April-June period, the biggest increase since late 2016 after a 0.9 per cent rise in the first quarter of 2018. Read More »

Wall Street opens lower as Turkey turmoil, trade worries weigh

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Tapestry, the parent company of Coach and Kate Spade , jumped after its fourth-quarter results surpassed analysts' estimates. The U.S. says the charges are fabricated. Cigna and Express Scripts both rose after billionaire investor Carl Icahn said he's ending his campaign to block the deal. Health insurer Cigna added 1.7 percent to $184.87 and pharmacy benefits manager Express Scripts picked up 1.8 percent to $85.55. Read More »

White House denounces Turkey tariffs on United States products

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State Department spokeswoman Heather Nauert said on August 9th. The White House on Wednesday condemned Turkey's doubling of tariffs on U.S. cars, alcohol and tobacco imports, calling the action "a step in the wrong direction". "Turkish-Qatari relations are based on solid foundations of true friendship and solidarity". Turkish President Recep Tayyip Erdogan has repeatedly described the dispute with the United States with as an "economic war" that Ankara will win. Read More »

Bitcoin (BTC) Dominance Rises 50.9% as Alts Slide

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The total market cap fell by 12% to $ 192 billion a day, which is less than 25% of the peak market volume in the beginning of the year. As per the global charts on CoinMarketCap , the cryptocurrency market has dipped to a low of $189 billion which is the lowest in the last nine months since November 2017. Read More »

Turkey releases Greek soldiers as it slaps 140% tariff on American alcohol

The surge follows record lows for the Turkish Lira in recent months On Monday, one pound was worth 8.7 Lira on the International Currency Exchange website. "They are squeezing lira liquidity out of the system now and pushing interest rates higher", said Cristian Maggio, head of emerging markets strategy at TD Securities. Read More »

China’s Vice Commerce Minister to visit United States for trade talks

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The statement said China opposed unilateralism and trade protectionism. Earlier this month, China announced a list of $60 billion worth of USA imports it plans to apply tariffs on, after Trump ordered officials to consider imposing a 25 percent tax on $200 billion worth of Chinese goods, up from an initial 10 percent rate. Read More »

Turkey to Boycott US Goods, Erdogan 'Ready for War'

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On August 10, US President Donald Trump announced higher tariffs on Turkish imports of steel and aluminum. "We (also) have our Venus and Vestel", Erdogan said about homegrown Turkish electronics brands. It's not clear how Erdogan would enforce the boycott, the AP noted. His call met a mixed response on Istanbul streets. We've got more newsletters we think you'll find interesting. Read More »

Bridge collapse in Genoa kills at least 39, sparks public outrage

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Rescuers scoured the wreckage of Italy's bridge collapse on Wednesday (Aug 15) as the death toll climbed to 38 and the government blamed the bridge's private owner, demanding resignations and moving to strip its toll concession. Prime Minister Giuseppe Conte said "all infrastructure" across the country needed to be double-checked. "Many of the bridges of the developed nations are at the end of their design lives", he said. Read More »

Turkey hikes tariffs on imports of several United States products

The rebound in the Turkish currency to stronger than 6.0 against the USA dollar was driven by a banking watchdog's step to limit swap transactions and by hopes of improved relations with the European Union. A spokesman for the Turkish president has said Washington must stop trying to influence Turkey's judiciary. The lira is down roughly 40 per cent this year, dropping 10 per cent of its value on Monday alone . Read More »

Canopy Growth (CGC) Stock: Flying On C$5 Billion Investment

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A big focus of the deal is acquiring businesses in other countries where cannabis use is federally approved, he said. "Over the past year, we've come to better understand the cannabis market, the tremendous growth opportunity it presents, and Canopy's market-leading capabilities", Constellation CEO Rob Sands said in the statement. Read More »

White House: Sorry Not Sorry For Fake Job Numbers

Manigault-Newman has been on a media blitz promoting her juicy tell-all memoir Unhinged: An Insider's Account of the Trump White House which has caused quite a stir. "To be clear, I never organized a conference call with [Trump campaign aide] Jason Miller to confirm Mr. Trump said anything". Fired by Kelly in December, Manigault Newman now says many of Trump's actions gave her pause but she was sympathetic to him as a longtime friend and mentor. Read More »

Turkish court rejects United States pastor Brunson's appeal for release

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The tariff increases followed Donald Trump's decision last week to double United States tariffs on Turkish steel and aluminium, deepening Turkey's economic crisis. "They will likely just give warm words to Turkey, looking to exploit the situation and stir things up for the USA and the West", said Timothy Ash, senior strategist at BlueBay Asset Management. Read More »

Turkish President calls for iPhone boycott

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While Erdogan didn't address their concerns in his speeches on Tuesday, he suggested Turks have already begun responding to his call to convert foreign exchange into lira because it would be tantamount to "surrendering" if they did otherwise. Read More »

Turkey Boosts Tariffs Amid US Feud

The tensions and the tariff hike by the United States have caused the Turkish lira to bleed value, fanning fears the country is on the verge of an economic crisis that could spillover into Europe. "The cure for a persistently weak currency is not rocket science, nor is it liquidity measures and policy tweaks - it is higher interest rates". In 2017, the United States exported $9.7 billion dollars in goods to Turkey, according to the U.S. Read More »

Nigeria’s inflation dips to 11.14% in July - NBS

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The consumer prices index (CPI) rose at an annual rate of 2.5% last month after holding at 2.4% in the previous three months , following a steep rise in annual energy price growth from 8.7% in June to 9.3%. The RBI has raised its inflation outlook to 4.8% in the second half (October-March) of 2018-19 from its earlier projection of 4.7%. "Food inflation is only 1.37%", he said in a tweet. Read More »

Bayer shares slide after Monsanto's Roundup cancer trial

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However, jurors unanimously decided Monsanto's glyphosate-based Roundup caused Johnson's cancer and Monsanto failed to warn of the health hazard, citing the International Agency for Research on Cancer listing of glyphosate as a probable carcinogen, which also prompted California's Environmental Protection Agency to list it as well. Read More »