Money

Iran offers discount oil to Asia

Iran offers discount oil to Asia Futures for September delivery increased 1.2 per cent to 519 yuan (S$104) a barrel on the Shanghai International Energy Exchange. Oil prices were steady on Monday as trade tensions and troubled emerging markets dented the outlook for fuel demand, although USA sanctions against Iran pointed towards tighter supply ahead. [Full Article...]

22 dead in Italy after motorway bridge collapses

22 dead in Italy after motorway bridge collapses At least 35 people were killed when a bridge collapsed in the Italian port city of Genoa , police said on Wednesday after firemen worked through the night looking for any survivors buried under the rubble. Sooner or later, it will have to be replaced. He said they had come across the vehicle of one family, where a couple had been crushed. Those problems were later corrected, he said. [Full Article...]

Turkish turmoil to send economic storm clouds over United States soon

Turkish turmoil to send economic storm clouds over United States soon What a boycott on iPhones (and potentially other Apple products) would mean for these locations isn't clear. But neither side has backed down, with Erdogan invoking Turkey's past of supporting the U.S. He noted that "defaults and hence a recession in Turkey are becoming increasingly likely", and "ditto for Argentina", which has seen its US -dollar debt surge to 18.4 per cent of GDP versus 6.7 per ... [Full Article...]

Tragedy on the Mendocino Complex; Authorities Announce Firefighter fatality

Tragedy on the Mendocino Complex; Authorities Announce Firefighter fatality His bail has been set at $1 million dollars. We will continue to keep you updated as we receive more information. Cal Fire explained the cause of fire as "mechanical failure of a vehicle". The cooler temperatures, off triple digits across much of Northern California, came during a two-day tour of the area by two Trump administration officials, U.S. [Full Article...]

[H]ardOCP: Tesla's Board Seeking More Information on Musk's Financing Plan

[H]ardOCP: Tesla's Board Seeking More Information on Musk's Financing Plan Musk is Tesla's largest shareholder, with a 20% stake in the company. The briefs battle royale began after Einhorn's hedge fund said in a letter he was "happy that his Model S lease ended" and was replacing the auto because of problems with the technology. [Full Article...]

New Plan to Rescue Turkey's Deteriorating Economy

New Plan to Rescue Turkey's Deteriorating Economy The U.S. has responded by slapping financial sanctions on two ministers and later doubled steel and aluminum tariffs on Turkey . On Tuesday the lira recovered some ground, trading at 6.53 to the dollar at 0918 GMT, up around five percent on the day. [Full Article...]

Plane stolen from SeaTac International Airport, multiple sources claim

Plane stolen from SeaTac International Airport, multiple sources claim After the plane approached Ketron Island, Waldron saw a thick column of smoke followed by a loud explosion. Seattle-Tacoma International Airport said the person flying the plane was an airline employee. Only the unknown pilot was on the plane , according to authorities. "Ah damn it, I don't know, man". I would like to apologize to each and every one of them. [Full Article...]

Euro zone banks hammered for Turkish exposure

The United States is the biggest destination for Turkish steel exports with 11 per cent of the Turkish export volume. President Donald Trump announced Friday that he is doubling tariffs on steel and aluminum from Turkey amid heightened tensions between the two nations. [Full Article...]

U.S. to impose new sanctions on Russian Federation for nerve attack in UK

U.S. to impose new sanctions on Russian Federation for nerve attack in UK Peskov on Thursday gave no indication that Russian Federation would accept the US criteria or permit any inspections. The U.S. State Department said on August 8 that the sanctions were imposed following the use of the "novichok" nerve agent in an attempt to assassinate Skripal and his daughter. [Full Article...]

China Slams 25-Percent Tariff On American Cars And Motorcycles

China Slams 25-Percent Tariff On American Cars And Motorcycles U.S. tariffs on Chinese goods are set to hit $50 billion from August 23. The United States Trade Representative has green lighted electric bikes and associated motors sourced from China to be subject to a 25% tariff, starting August 23rd. [Full Article...]

Oil steady as concern over Iran sanctions offset weak Chinese imports

Oil steady as concern over Iran sanctions offset weak Chinese imports The US government brought a string of new sanctions against Iran on Tuesday, aiming at Iran's purchases of US dollars - in which oil has always been traded - metals trading, industrial software, coal, and its automobile industry. Exports to China rose to 799,452 bpd in July from 722,100 bpd in June, while Iranian oil sales to India increased by more than 40,000 bpd from June to 706,4... [Full Article...]

Tesla trading halted after Elon Musk tweets about taking company private

Tesla trading halted after Elon Musk tweets about taking company private Musk's tweet comes as Tesla faces continued pressure to ramp up output of the Model 3 sedan, its first effort at the middle market. Musk has lashed out at critics and investors who have shorted the stock, going so far as to call one prominent critic's employer to silence him, and refusing to take a hard question from a financial analyst in the company's June shareholder meeting. [Full Article...]

Unemployment Rate for Workers Without High School Degrees Hits Record Low

Unemployment Rate for Workers Without High School Degrees Hits Record Low Job gains were seen in the durable goods manufacturing and health care sectors as well as in restaurants and bars. Workers with only a high school degree also seem to be doing relatively better, with a 4.0 percent unemployment rate matching the prerecession low (it had been 3.9 percent in May), although still above the 3.2 percent low hit in 1999. [Full Article...]

China Announces Retaliatory Tariffs On $60 Billion In U.S. Goods

China Announces Retaliatory Tariffs On $60 Billion In U.S. Goods A week after moving to ease trade tensions with the European Union, the administration said it would consider imposing a 25 percent tariff on certain Chinese imports , up from the 10 percent Trump proposed last month. The proposed higher tariff "is meant to provide the administration with additional options to encourage China to change its harmful policies and behavior and adopt policies that wil... [Full Article...]

RBI policy move: Banks expected to raise term deposit rates gradually

RBI policy move: Banks expected to raise term deposit rates gradually LONDON-The Bank of England raised its benchmark interest rate for only the second time in a decade, as worries over inflation trumped concerns about Brexit and a brewing global trade war. "It is nearly unthinkable that the Bank of England will follow up with further rate rises in the next few months given the risks on the horizon". [Full Article...]

Tesla reports biggest loss in its history

Tesla reports biggest loss in its history Although Tesla is burning through less cash, it continues to lose money. Adjusted for stock-based compensation, the company lost $US3.06 per share. However, the firm still lost more than $717m in the quarter - more than double a year ago. [Full Article...]

Turkish Lira Falls to Record Low After U.S. Sanctions

Turkish Lira Falls to Record Low After U.S. Sanctions The sanctions imposed Wednesday target Turkey's Minister of Justice Abdulhamit Gul and Minister of Interior Suleyman Soylu, whom the U.S. Treasury Department claims both played leading roles in the organizations that unjustly detained Brunson. [Full Article...]

Apple stock jumps after earnings beat

Apple stock jumps after earnings beat Davidson & Co. The results surpassed Wall Street expectations of $2.17 per share, the Associated Press reported. A key area for Apple in its results will be iPhone sales - the company's flagship device. The company posted revenue of $53.3 billion. That's because the pricy iPhone X has been performing well; it has consistently been the best-selling iPhone since it launched last November. [Full Article...]

Harley Davidson set to ride in Royal Enfield territory

Harley Davidson set to ride in Royal Enfield territory According to Harley Davidson , the bike will have a commanding riding position which will allow the rider to "see the world from another point of view", while having the ability to "travel coast-to-coast". Harley-Davidson said it plans to develop a 200-500cc motorcycle through a strategic alliance in Asia which will be used to primarily fuel its growth in India. [Full Article...]

Several opposition parties call for fresh elections

Several opposition parties call for fresh elections He met with representatives of other losing parties to decide on a protest strategy. "On election day, polling was assessed as well conducted and transparent", he said. Jailed former prime minister Nawaz Sharif's Pakistan Muslim League-Nawaz (PML-N) with 64 seats and former president Asif Ali Zardari's Pakistan Peoples Party (PPP) with 43 seats are placed at number two and three respecti... [Full Article...]


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