Economy

Breakfast foods marketed to children contain cancer-causing weed killer, study says

Breakfast foods marketed to children contain cancer-causing weed killer, study says Scientists tested 29 products and found that nearly three-quarters of the samples they tested contained higher levels of glyphosate than deemed safe, according to the report . Monsanto has frequently disputed the allegations that Roundup's glyphosate causes cancer, and it told CBS on August 15 that "glyphosate does not cause cancer" and "has a more than 40-year history of safe use". [Full Article...]

China-US to resume trade talks after tit-for-tat tariff battle

China-US to resume trade talks after tit-for-tat tariff battle Treasury Department wasn't available for comment". Beijing retaliated by imposing the same percentage of retaliatory tariffs on 545 US items, also worth $34 billion. News of the talks boosted China's yuan currency and its stock markets, which have been hit hard by negative sentiment related to the trade war and a slowing domestic economy. [Full Article...]

Turkey doubles tariffs on some U.S. imports; lira rallies

Turkey doubles tariffs on some U.S. imports; lira rallies Tariffs were also increased on cosmetics, rice and coal. The decision shows Turkey giving a proportionate response to American " attacks " on the Turkish economy, Vice President Fuat Oktay said in a Tweet . Recep Tayyip Erdogan said his country would instead seek " new markets, new partnerships and new allies" after Trump announced higher tariffs on imports from Turkey. [Full Article...]

Merkel says Germany wants Turkey to prosper

Merkel says Germany wants Turkey to prosper The lira rallied slightly on Tuesday, and Erdogan has issued bullish statements about being the target of an economic war . "We will impose a boycott on USA electronic products". 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. [Full Article...]

Before and after photos of Genoa bridge collapse

Before and after photos of Genoa bridge collapse Italy's Interior Minister Matteo Salvini said at least 35 people were killed. Local authorities initially cited heavy storms as partly to blame for the disaster but on Tuesday evening Italy's Prime Minister Giuseppe Conte announced that authorities were working on the theory of "structural failure". [Full Article...]

Turkey takes action in bid to curb currency crisis

Turkey takes action in bid to curb currency crisis After the USA imposed sanctions on two Turkish ministers and amid growing domestic pressure from businesses and banks to contain a currency crisis, Erdogan said he wouldn't back down in the face of the economic attack against his country. [Full Article...]

After Tesla Buyout Tweet, Some Investors Wonder: Where Was Nasdaq?

After Tesla Buyout Tweet, Some Investors Wonder: Where Was Nasdaq? Short-sellers make a profit by borrowing overpriced shares, selling them and then buying them back at what they hope will be a lower price. On Wednesday Hagens Berman asked investors to contact the firm if they sold shares short or purchased put options on or before August 7 and suffered losses. [Full Article...]

Turkey promises to calm market jitters over lira nosedive

Turkey promises to calm market jitters over lira nosedive Turkish President Recep Tayyip Erdogan called the reduction in the value of the Turkish national currency , a "conspiracy" against Turkey , but said the Turkish people would not surrender. "But there will be a price [which] those who're waging an economic warfare against Turkey will also pay". "We welcome long overdue news.but it is not enough", US Secretary of State Mike Pompeo says on T... [Full Article...]

Plane stolen from SeaTac International Airport, multiple sources claim

Plane stolen from SeaTac International Airport, multiple sources claim And there was no indication that the incident was an act of terror, Pierce County Sheriff Paul Pastor told KIRO7 news station in Seattle . Early reports indicate that an airport employee stole the jet, causing fighter jets to be deployed and all ground traffic was halted. [Full Article...]

Trump authorizes doubling of tariffs on Turkey's steel, aluminum

U.S. President Donald Trump said on Friday he had authorised higher tariffs on imports from Turkey , imposing a 20 percent duty on aluminium and 50 percent one on steel , as tensions rose between the two North Atlantic Treaty Organisation allies over Ankara's detention of an evangelical pastor and other diplomatic issues. [Full Article...]

Bullish Crossover on WTI Crude Oil Ahead of API Report

Bullish Crossover on WTI Crude Oil Ahead of API Report On the other hand, a reduction in supply as a result of USA sanctions on Iran (which will reduce supply), is providing support on moves lower. However, they were still among the lowest this year because of a drop-off in demand from the country's smaller independent, so-called "teapot" refineries. [Full Article...]

Premier Ford expected to announce 'buck and beer' in the County

Premier Ford expected to announce 'buck and beer' in the County Barley Days Brewery - one of the first breweries to open in Prince Edward County - has noted they plan to release a $1 beer created specifically for that price point. "I just don't think this is something our membership would ever entertain", Mr. Simmons said. Barley Days Brewery , where Mr. Ford made his announcement, is buying new equipment and preparing to triple its capacity for the launch... [Full Article...]

Tesla Stock’s Surge Puts Convertible Bonds in the Money

Tesla Stock’s Surge Puts Convertible Bonds in the Money Musk has had feuds with regulators, critics and reporters, and questions remain about Tesla's production and manufacturing difficulties, long-term demand for its cars and uncertainty over funding. " Funding secured ." Tesla's stock jumped, triggering a halt for an hour or so before trading resumed at about $380. "Given his historic frustration with short sellers, analysts and certain parts o... [Full Article...]

US jobless rate drops to 3.9%. in July; 157,000 new jobs created

US jobless rate drops to 3.9%. in July; 157,000 new jobs created US establishments added a net new 157,000 jobs, following the upwardly revised average gains in May and June of an outsized 258,000. The economy needs to create about 120,000 jobs per month to keep up with growth in the working-age population. [Full Article...]

Bank of England raises interest rates to 0.75%

Bank of England raises interest rates to 0.75% The six-member Monetary Policy Committee headed by RBI Governor Urjit Patel kept its stance at neutral. Simultaneously, it raised average inflation projection for 2018 second half from 4.7% in June to 4.8%. RBI had to choose the timing of rate hike between now and later in the October 2018 policy. Today's hike in interest rates will make loans more costlier in the coming days. [Full Article...]

Iran imports plane parts before United States sanctions kick in

Iran imports plane parts before United States sanctions kick in Beijing , however, agreed not to increase purchases of Iran's crude, the officials, who spoke on condition of anonymity told Bloomberg on Friday. But US President Donald Trump made a decision to reimpose punishing sanctions against Iran, whom he has accused of posing a security threat. [Full Article...]

Oil prices fall as OPEC increases production

Oil prices fall as OPEC increases production Prices rose amid fears of supply... Oil prices jumped Monday as markets weighed OPEC production hitting its highest level this year against a war of words between the USA and Iran . This pulled oil prices higher this week. USA inventories are forecast to have fallen by 3 MMbbl last week, according to a Bloomberg survey of analysts before government data due Wednesday. [Full Article...]

USA mulls 25% tariff on Chinese goods worth $200bn

USA mulls 25% tariff on Chinese goods worth $200bn Chinese Foreign Ministry Spokesperson Geng Shuang said on Thursday that China will advise the United States to change its attitude, stop making false accusations, and return to the land of reason. The 25 per cent tariffs on $200 billion worth of imports would come on top of the existing penalties on $34 billion worth of products and an additional $16 billion that are scheduled to go into effect ... [Full Article...]

RBI hikes repo rates by 25 basis points

RBI hikes repo rates by 25 basis points The Reserve Bank of India on Wednesday raised interest rates for the second straight meeting, but retained its "neutral" stance as it aimed to contain inflation while not choking growth. Inflation, as measured by the consumer prices index (CPI), rose by 2.4% in the year to June. If interest rates are 1% or more by the time the economy sails into stormier seas, policymakers will at least be able ... [Full Article...]

Apple officially becomes the first $1 trillion company

Apple officially becomes the first $1 trillion company The share price surge is credited to recent quarterly financial results that surprised investors on Wall Street for being better than expected. Apple saw excellent numbers during its fiscal third quarter of the year, revealing strong worldwide sales and demand for the pricey iPhone X , which helped tip revenues to a new record despite a dip in device sales. [Full Article...]


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