• Brexit: Jeremy Hunt begins tour of European ministers
Brexit: Jeremy Hunt begins tour of European ministers

Investors have been selling the shared currency amid concerns that Eurozone banks could be negatively impacted by the economic crisis in Turkey. On top of concerns that the United Kingdom may not reach a Brexit deal with the European Union, investors have also been disappointed by data indicating that United Kingdom economic activity is being neg...

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  • Asian stocks hit 1-year low amid Turkey woes, bearish China equities
Asian stocks hit 1-year low amid Turkey woes, bearish China equities

He renewed a call on Turkish citizens to convert their dollars into the local currency . In an interview with CNBC on Thursday, White House economic adviser Larry Kudlow said the strong dollar indicated global confidence in the US economy.

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  • White House says Turkey treated pastor 'badly'
White House says Turkey treated pastor 'badly'

The lira , still down 34% against the dollar this year, firmed to 5.7700 by 12pm Irish time from a close of 5.95. "Rates have gone up by 10 percent . North Atlantic Treaty Organisation allies United States and Turkey have been at loggerheads over a wide range of topics including diverging interests in Syria, Ankara's ambition to buy Russian d...

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  • Crypto Market Falls 10 Percent in 24 Hours
Crypto Market Falls 10 Percent in 24 Hours

He explained that in the Bitcoin futures market, investors are incentivized to intentionally bring down the price of Bitcoin to cash out their short contracts and the simultaneous movements of a large number of retail traders to dump BTC on the market may have caused the previous drop.

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  • Wisma Putra: No Malaysians affected in Italy bridge collapse incident
Wisma Putra: No Malaysians affected in Italy bridge collapse incident

With rescue efforts continuing and authorities working to formally identify victims, the city started two days of mourning. Interior Minister Matteo Salvini said it has been hard to come up with an exact number, as some of those reported missing by loved ones might actually be vacationers who reached their destination but haven't contacted fami...

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  • Constellation pumps $4 billion into cannabis business
Constellation pumps $4 billion into cannabis business

Makers of alcoholic beverages are looking to cash in on the growing use of cannabis around the world as their traditional business slows. "Our business can now make the strategic investments required to accelerate our market position globally", Canopy chairman and co-chief executive Bruce Linton said in a statement .

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  • Turkish firms cancel iPhone orders amid U.S. products boycott
Turkish firms cancel iPhone orders amid U.S. products boycott

Turkish Finance Minister Berat Albayrak, who is Erdogan's son-in-law, and his Qatari counterpart Ali Sharif Al-Emadi were also present at the talks in the capital. The tit-for-tat tariffs were announced amid Turkey's rejection of a USA demand to release Brunson, the American pastor, who is sentenced to imprisonment in the country on espionage and ...

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  • Tencent’s Troubles Could Hurt Investors More Than Turkey
Tencent’s Troubles Could Hurt Investors More Than Turkey

China insists on foreign companies working with a Chinese partner to sell their products, meaning many USA and European publishers work with companies such as Tencent to sell games . The stock has slid more than 17 per cent this year, while New York-listed rival Alibaba Group Holding remained mostly unchanged. But compared to the previous three-mo...

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  • China to send negotiator to USA for trade talks this month
China to send negotiator to USA for trade talks this month

China will dispatch Vice Commerce Minister Wang Shouwen to the U.S. for trade talks in late August, the first official exchanges since earlier negotiations broke down two months ago. U.S. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.2 percent, at $65.17 a barrel, held back somewhat by rising U.S. crude production and storage l...

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  • Turkey Hits Back At US With Tariff Hikes On Alcohol, Cars
Turkey Hits Back At US With Tariff Hikes On Alcohol, Cars

There was a clear, sharp drop in the lira's value on Friday after Trump tweeted he was doubling tariffs on Turkish steel and aluminum, citing a national security threat, and a smaller decline when the US sanctioned Turkey's Interior and Justice Ministers on August 1.

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  • Erdogan spokesperson says problems with United States will be resolved
Erdogan spokesperson says problems with United States will be resolved

Turkish Vice President Fuat Oktay said that the tariff hikes were ordered "within the framework of reciprocity in retaliation for the conscious attacks on our economy by the U.S. Erdogan doubled the tariffs on passenger cars to 120 per cent, on alcoholic drinks to 140 per cent and on leaf tobacco to 60 per cent. The administration has als...

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  • Turkey issues retaliatory tariffs on USA imports
Turkey issues retaliatory tariffs on USA imports

Erdogan again urged Turks to convert their USA dollars into the Turkish currency - the lira - to give it a boost as it continues to drop in value. While policy makers have hiked lending rates by 500 basis points this year to 17.75 percent, they're under constant pressure from Erdogan to keep rates low because he thinks it's better for the economy...

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  • Rising fuel prices push up United Kingdom inflation for first time in 2018
Rising fuel prices push up United Kingdom inflation for first time in 2018

As the pound has recovered, inflation once again started to fall, dropping from 3% at the end of 2017 to 2.4% last month. The hikes - in the pipeline after the latest figures for the RPI rate of inflation were released - come amid a major row between unions and the government about how to cut costs for travellers.

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  • Bayer shares slide after Monsantos Roundup cancer trial
Bayer shares slide after Monsantos Roundup cancer trial

The plaintiff, Dewayne Johnson, proved to the jury that Roundup herbicide was a "substantial contributing factor" in causing his cancer and that Monsanto failed to warn consumers about the product's cancer risk. "I was thinking of them and I said to myself that this ruling will help them and give them lots of hope", said Paul Francois, author of ...

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  • USA stocks open higher as Turkish lira rebounds
USA stocks open higher as Turkish lira rebounds

Brunson is at the center of a diplomatic spat between North Atlantic Treaty Organisation allies Turkey and the United States, which has helped trigger a Turkish currency crisis. "This is called carrying out an operation against Turkey ". The two countries have been at odds over the detention of American pastor Andrew Brunson in Turkey .

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  • Drop in Turkish lira is making us a lot more money
Drop in Turkish lira is making us a lot more money

Turkey's finance minister Berat Albayrak said the central bank would start implementing an economic action plan, including cutting the lira reserve requirement ratio, a cash buffer held by banks. The exchange value of the lira has fallen about 40 percent against the US dollar since January. Those loans are suddenly getting more expensive to r...

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  • Hallquist picks up dem primary win
Hallquist picks up dem primary win

She faces a Republican incumbent, Phil Scott, who is running for his second term with history on his side - Vermonters have not thrown out an incumbent governor since 1962. Before she ran for governor, Hallquist spent 12 years as the chief executive of the Vermont Electric Cooperative, an in-state power utility she helped to bring back from near ru...

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  • OPEC output rises on Nigeria, Kuwait supplies
OPEC output rises on Nigeria, Kuwait supplies

Brent crude LCOc1 dipped 15 cents to settle at $72.46 a barrel, while U.S. West Texas Intermediate ( WTI) crude CLc1 futures fell 16 cents to close at $67.04 a barrel. But output from non-OPEC countries is rising quickly. US energy companies last week added the most oil rigs since May, adding 10 rigs to bring the total count to 869, according...

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  • Erdogan says Turkey to 'boycott' US electronic goods
Erdogan says Turkey to 'boycott' US electronic goods

The Economist Intelligence Unit's Agathe Demarais said it would require "credibly orthodox economic policies, fiscal discipline and central bank independence to reverse the current situation". The 64-year-old warned the USA it would turn to domestically produced goods or rival firms in South East Asia in retaliation for sanctions imposed by W...

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  • Tesla forms special committee to consider going private
Tesla forms special committee to consider going private

Musk said in the statement that a meeting with the managing director of Saudi Arabia's sovereign wealth fund prompted his tweet last week about wanting to take Tesla private. Musk said he had the funding secured for a $420-a-share buyout sending the stock soaring. That earlier tweet triggered investor lawsuits and an investigation by the U....

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