Business


Turkey retaliates against Trump tariffs, hiking fees on U.S Turkey retaliates against Trump tariffs, hiking fees on U.S
- August 15, 2018

There is an increasing risk of lower-level Turkish officials, acting on their own initiative, taking measures against U.S. individuals and companies, including arbitrary regulatory inspections, scrutiny over existing state contracts, as well as deliberate difficulties for USA citizens in customs. (more...)
China Freezes Game Regulations, Throwing World's Biggest Gaming Market Into Chaos China Freezes Game Regulations, Throwing World's Biggest Gaming Market Into Chaos
- August 15, 2018

China's Economic Daily in June quoted the Ministry of Culture and Tourism, the other state body involved in approvals, which said the agencies were undergoing 'organisational adjustments'. These issues have seen the Japanese games market tumble. Tencent is reportedly now more interested in the burgeoning battle royale genre, holding stakes in both Fortnite and Unreal Engine 4 maker Epic Games and Playerunknown's Battlegrounds firms Bluehole and PUBG Corp. (more...)
Erdogan: Turkey can do without USA electronic goods Erdogan: Turkey can do without USA electronic goods
- August 15, 2018

It's not clear how Erdogan would enforce the boycott, the AP noted. The crisis came days after US President Donald Trump announced a doubling of steel and aluminium tariffs on Turkey, as Washington pushes Ankara to release Evangelical Christian pastor Andrew Brunson, who is being held on terrorism charges for almost two years. (more...)
Turkey doubles tariffs on some USA imports; Turkish lira rallies
- August 15, 2018

He also made his now famous speech on the night of the July 2016 failed coup calling citizens out into the street through FaceTime, an iPhone app. On Friday, Turkey's Foreign Ministry said Turkey would retaliate against the raising of steel and aluminum tariffs by the USA administration. (more...)
Retail inflation cools to 4.17% in July; pulses, vegetable prices eases Retail inflation cools to 4.17% in July; pulses, vegetable prices eases
- August 15, 2018

High YoY fuel price increases have led to continuous increase in inflation of the fuel and light, and the transport and communication groups. 'These findings coupled with CIPD data that total FTSE 100 Chief Executive pay has increased by 11 per cent in the past year and at a time when rail passengers face a substantial fares increase, will give rise to widespread public anger about the fairness of our society'. (more...)
Jury orders Monsanto to pay $289 million in California Roundup cancer trial Jury orders Monsanto to pay $289 million in California Roundup cancer trial
- August 15, 2018

In the first case filed against Monsanto by a plaintiff with cancer, a jury awarded $289 million-and Monsanto is feeling the pain. "We now have a way forward". Once, when a hose broke, the weed killer soaked his entire body. In a verdict that is expected to open the floodgates to a steady stream of similar litigation against the company, the 16-member California Superior Court jury awarded Dewayne Johnson $250 million in punitive damages and almost $40 million in compensatory damages. (more...)
Turkey’s lira steadies amid Erdogan’s move to boycott United States electronic products Turkey’s lira steadies amid Erdogan’s move to boycott United States electronic products
- August 15, 2018

Air Force base at Incirlik and gateway to the Black Sea for the U.S. Navy. Liberty Times that four major Taiwanese companies are likely to be on the losing end of investments and ventures in Turkey if the US sanctions are implemented and maintained for any significant amount of time. (more...)
Bryce wins Democratic primary to replace Ryan Bryce wins Democratic primary to replace Ryan
- August 15, 2018

Within a few minutes of announcing Scott's win, the news service also called the Democratic primary for Christine Hallquist, making her the first transgender gubernatorial candidate in the nation. As he did in his two previous campaigns for U.S. Senate, Sanders has indicated he will turn down the nomination so he can run as an independent instead of a Democrat. (more...)
Turkey to boycott US-made electronic products: Erdogan Turkey to boycott US-made electronic products: Erdogan
- August 15, 2018

President Erdogan told political supporters in Ankara that he would start "a boycott against America's electronic goods". The crisis accelerated last Friday after President Trump promised to double tariffs on Turkish exports because of Turkey's continued detention of American Pastor Andrew Brunson . (more...)
Trump’s campaign takes legal action against Omarosa, alleging breach of secrecy agreement Trump’s campaign takes legal action against Omarosa, alleging breach of secrecy agreement
- August 15, 2018

According to the Examiner, the arbitration move could "wipe [Omarosa] out financially". The publication, citing "a Trump ally", says that it is the campaign's contention that Omarosa's 2016 non-disclosure agreement remains in effect. He hurled angry tweets at his former friend, as he prepared to return to the White House following an 11-day vacation in New Jersey. Since Sunday when Omarosa first played a tape of a portion of her "exit interview" with John Kelly, there have been reports ... (more...)
How serious is Turkey's lira crisis and what are the implications? How serious is Turkey's lira crisis and what are the implications?
- August 14, 2018

The lira lost 20% of its value versus the dollar on Friday . On June 24, 2018, Erdogan wins the presidential election at the first round, with 52.6 percent of the vote. Trump and Erdoğan hammered out a deal for the U.S. to get Israel to release a Turkish woman imprisoned for alleged links to Hamas, and for Turkey to release detained USA pastor Andrew Brunson - or so Trump thought, sources tell The Guardian . (more...)
United Kingdom wages ease slightly in June, jobless rate drop to 4%
- August 14, 2018

Economists polled in the run up to the release had expected an unemployment rate of 4 .2%. Economists had expected the rate to remain at 4.2% level. A report, published by the Office of National Statistics, has shown that unemployment rates are at their lowest since 1975 and productivity across the board has improved. (more...)
Drop in Turkish lira is making us a lot more money Drop in Turkish lira is making us a lot more money
- August 14, 2018

Turkey's President Recep Tayyip Erdogan has said his country will boycott U.S. economic products, after Washington imposed punitive sanctions on Ankara. Last Friday , President Donald Trump doubled tariffs on aluminum and steel imports from Turkey . The call for global investors, which will be held ahead of the publication of Turkey's Medium Term Program, will be hosted by David Lubin, Chief Emerging Markets Economist of Citi Research, the organizers said in a statement. (more...)
Oil Ticks Up Amid Supply Risks Oil Ticks Up Amid Supply Risks
- August 14, 2018

Moreover, demand for OPEC crude is set to reach 32.9 million bpd this year, dropping by 600,000 bpd from the previous year. Crude LCOc1 edged lower after the OPEC report was released, trading below $73 a barrel. This was attributed to a weaker-than-expected demand in Latin America and the Middle East during the second quarter of the year. But output from non-OPEC countries, particularly the United States, is rising quickly, limiting demand for OPEC oil. (more...)
Elon Musk Confirms Saudis Will Pay for Taking Tesla Private Elon Musk Confirms Saudis Will Pay for Taking Tesla Private
- August 14, 2018

It also blindsided some on the board of the electric vehicle maker. That assurance caused Tesla's stock to surge 11 percent in one day, boosting the company's market value by more than $6 billion to the dismay investors who had been betting Tesla's shares would decline. (more...)
Turkey Financial Crisis: Stocks at Record Low as Lira Plunges Again Turkey Financial Crisis: Stocks at Record Low as Lira Plunges Again
- August 14, 2018

President Recep Tayyip Erdogan , an opponent of interest rates who has wielded more influence over Turkey's central bank this year, continued to blame the sell-off on external forces like Washington. In intra-day trade, it hit a fresh low of 69.62 against the greenback, tracking weakness in other emerging market currencies on concerns of a spill over from the Turkish crisis, according to Moneycontrol . (more...)
What's behind the current US-Turkey spat? What's behind the current US-Turkey spat?
- August 14, 2018

The sanctions caused market turmoil, which the central bank attempted - but failed - to soothe with a series of market-boosting measures. Mr Erdogan told a news conference in the Turkish capital, Ankara: "You act on one side as a strategic partner, but on the other, you fire bullets into the foot of your strategic partner". (more...)
California Wildfires: Thoughtful Authorities Help Keep Pet Fish Alive After Homeowners Evacuate California Wildfires: Thoughtful Authorities Help Keep Pet Fish Alive After Homeowners Evacuate
- August 14, 2018

Authorities say the man died Monday night at a hospital after he was injured at the site of the Mendocino Complex fire north of San Francisco. Mandatory evacuations remain in place across the state for around 11,120 individuals. About 100 miles (160 km) southwest of the Carr Fire , about 3,500 firefighters are battling the Mendocino complex fire , which has burned 328,226 acres (132,828 hectares) as of Saturday and was the largest fire on record in California. (more...)
Turkey accuses USA of 'stab in back' as currency woes persist
- August 14, 2018

Except that the fall in the Turkish lira , which earlier on Monday fell by a further 11% against the United States dollar to take its fall this year to more than 40%, has focused the minds of investors on what other economies may have similar characteristics, such as high levels of corruption and an unwillingness to tackle it among the political elite, or a high current account deficit and excessive reliance on overseas investors. (more...)
Turkey’s crisis impact on the euro area - Nomura Turkey’s crisis impact on the euro area - Nomura
- August 14, 2018

As Turks braced for a rise in double-digit inflation and the lira's woes troubled global markets, Erdogan , who has blamed foreign powers for the crisis, insisted that the economy was "solid, strong and intact", according to the semi-official Anadolu agency. (more...)
Turkey tries to contain crisis but currency keeps falling Turkey tries to contain crisis but currency keeps falling
- August 14, 2018

The first warning sign trouble could be afoot came when Trump said on July 26 Turkey would be facing sanctions over its holding for nearly two years of U.S. American pastor Andrew Brunson has been held since October 2016 on terror and espionage charges and, if convicted, could face a jail term of 35 years. (more...)
'Broken' Seattle plane thief joked with air traffic controller during fatal flight 'Broken' Seattle plane thief joked with air traffic controller during fatal flight
- August 14, 2018

Only the man behind the controls, later identified by authorities as Richard Russell , was killed, but the potential for catastrophic loss of life on the ground led to other flights being grounded and F-15 fighter jets scrambling. Gary Beck , the president and CEO of Horizon Air , said Saturday that to their knowledge Russell did not have a pilot's license, and it is unclear how Russell knew how to start the plane's engine, which involves a series of switches and levers. (more...)
Merriam-based Lee jeans is moving to North Carolina Merriam-based Lee jeans is moving to North Carolina
- August 13, 2018

VF, one of the largest manufacturers of footwear and apparel, has been on a dealmaking tear in the last couple of years to rejig its portfolio, shedding businesses like Nautica and licensed sports merchandise maker Majestic, while last year adding the maker of Dickies hospital scrubs and Kodiak boots in an $820 million acquisition. (more...)
Turkey: US won't achieve aims through sanctions
- August 13, 2018

The currency hit a record low of 7.23 per dollar late on Sunday after Mr Erdogan , in a series of speeches over the week, showed no sign of backing down in the stand-off against America, a North Atlantic Treaty Organisation ally. The Turkish stock market has also fallen 17%, while government borrowing costs have risen to 18% a year. The dollar strengthened as traders dumped Turkish lira. (more...)
Kremlin says backs use of national currencies for bilateral trade Kremlin says backs use of national currencies for bilateral trade
- August 13, 2018

The Washington administration earlier said it was imposing sanctions on Russia as of August 22 over Moscow's alleged involvement in the poisoning of former Russian intelligence officer Sergei Skripal and his daughter Yulia in British Salisbury, on March 4. (more...)
300 people injured after platform collapses at Spanish music festival 300 people injured after platform collapses at Spanish music festival
- August 13, 2018

Abel Caballero, the mayor of Vigo , ruled out the possibility that they could have been trapped under the collapsed platform, as rescuers scanned the area twice with thermal cameras, El Pais reported . Firefighters search for victims after dozens of people fell into the sea during a concert in Vigo, northwestern Spain . "Two people, one of them was a friend of mine who was not able to get out, the container was falling on us and we were trying to hold it in". (more...)
Family Of Airport Worker Who Crashed Plane 'Shocked, Devastated' Family Of Airport Worker Who Crashed Plane 'Shocked, Devastated'
- August 13, 2018

Courtney Gregoire, the president of the Port of Seattle Commission, said in an interview Sunday that the port's director of security will meet with officials from a number of airlines who operate at the airport to discuss Friday's incident. (more...)
Lira extends slide as Erdogan says Turkey in economic war Lira extends slide as Erdogan says Turkey in economic war
- August 13, 2018

Turkey has "solid and strong" economic dynamics in the face of the recent "economic siege" on the country, President Recep Tayyip Erdoğan said on Monday. He dismissed any suggestions that Turkey might intervene in dollar-denominated bank accounts, saying any seizure or conversion of those deposits into lira was out of the question. (more...)
Iran's top leader bans any negotiations with Washington Iran's top leader bans any negotiations with Washington
- August 13, 2018

Renewed U.S. sanctions on Iran took effect on Tuesday. He also ruled out the possibility of any military confrontation with the United States, Iranian state TV reported . Khamenei referred specifically to the collapse in the currency, which has seen half its value wiped since early April. "The corrupt people (officials) should be punished firmly", Khamenei said on Monday. (more...)
Turkish lira drops to new record low overnight Turkish lira drops to new record low overnight
- August 13, 2018

Following the central bank's promises on Monday, the lira pulled back from a record low of 7.24 against the dollar, strengthening to 6.4, before weakening again to 6.92. "The plunge in the lira, which began in May, now looks certain to push the Turkish economy into recession, and it may well trigger a banking crisis", said Andrew Kenningham, chief global economist at Capital Economics. (more...)

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