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

According to Prasanna, with FY19 headline CPI inflation to average 4.7-4.8 per cent and core inflation averaging 5.8 per cent, chances of impending rate hikes, though, have come down, but the hike cycle is not over yet. The data also shows that London experienced the most significant annual fall in the United Kingdom, at minus 0.7 per cent - the ...

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  • Trump Warns Turkey over Detained Pastor
Trump Warns Turkey over Detained Pastor

The US present had harsh words for Turkish officials during the cabinet session, saying, "They have not proven to be a good friend". They came out. They want to hold our wonderful pastor. The Turkish lira continued to retreat from its historic low against the dollar on Thursday after Qatar announced a $15 billion funding package for Turkey's ...

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  • U.S. says ready with more sanctions if Turkey does not free pastor
U.S. says ready with more sanctions if Turkey does not free pastor

President Donald Trump . The pastor is now being held under house arrest . Turkish President Recep Tayyip Erdogan has demanded the USA extradite Fethullah Gulen , a Muslim cleric who denies Turkish allegations that he engineered a failed 2016 coup.

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  • White House Expresses Frustration With Continued Detention of US Pastor in Turkey
White House Expresses Frustration With Continued Detention of US Pastor in Turkey

Washington´s move came during an ongoing dispute over Turkey´s holding of an American pastor for two years. By driving up short-term borrowing costs, this makes it less appealing for investors, like hedge funds, to borrow liras on the offshore swap market so they can bet against, or short, it.

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  • Turkey escalates US feud by increasing tariffs on products
Turkey escalates US feud by increasing tariffs on products

Singling out the iPhone, he suggested Turks buy Samsung Electronics Co. or locally made Venus Vestel smartphones instead. Turkey on Wednesday doubled tariffs on some US imports, including alcohol, cars and tobacco in retaliation for USA moves.

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  • Indian Rupees touches record low of 70.07 versus the U.S. dollar
Indian Rupees touches record low of 70.07 versus the U.S. dollar

This is the biggest single day fall for the rupee in the past five years. This has strained emerging market currencies such as India. There is "nothing at this stage to worry", Economic Affairs Secretary Subhash Chandra Garg said. Forex dealers said selling of the greenback by banks and exporters supported the rupee. The currency crisis in Tur...

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  • Turkish Lira Continues it Freefall
Turkish Lira Continues it Freefall

Turkey also wants the U.S. to hand over Pennsylvania preacher Fethullah Gulen which it blames for the 2016 coup attempt. "We stood tall before tanks, cannons and planes", said Erdogan, a brash, former footballer and ex-mayor of Istanbul .

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  • Elon Musk sued over proposal to take Tesla private
Elon Musk sued over proposal to take Tesla private

Musk's tweets helped push Tesla's stock price more than 13 percent above the previous day's close. In one of the lawsuits, the plaintiff Kalman Isaacs said Musk's tweets were false and misleading, and together with Tesla's failure to correct them amounted to a "nuclear attack" created to "completely decimate" short-sellers.

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  • Elon Musk: Saudis in talks to take Tesla private
Elon Musk: Saudis in talks to take Tesla private

The fund approached Musk about going private multiple times during the past two years, and Musk says he left a July 31 meeting with no question that the deal would be closed. As the intrigue enters a second week, with pressure increasing on the billionaire founder to explain how a deal would be funded, one of the world's most active investors has a...

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  • Trump Doubles Tariffs On Steel, Aluminum From Turkey
Trump Doubles Tariffs On Steel, Aluminum From Turkey

Image: Donald Trump claimed 'relations with Turkey are not good at this time!' The Treasury Department targeted Turkey's justice and interior ministers with financial sanctions last month after the government refused to allow Brunson to return to the U.S.

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  • U.S. Sanctions Put Russia on Edge
U.S. Sanctions Put Russia on Edge

The Kremlin earlier on Thursday called the latest action by the US State Department "illegal" and "unacceptable". Despite assurances, the ruble fell to a two-year low, and shares of Russian companies likely affected by the sanctions - including several banks and Russia's national air carrier Aeroflot - dipped in value.

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  • Oil tumbles on slowing Chinese demand, U.S.-China trade spat
Oil tumbles on slowing Chinese demand, U.S.-China trade spat

Last week's U.S. EIA crude oil inventories jumped significantly, putting downward pressure on oil prices before finding some support in the latter half of the week. Both benchmarks tumbled more than 3 percent on Wednesday after USA data showed a smaller-than-expected weekly draw in crude inventories and a surprise build of 2.9 million barrels i...

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  • Tesla board confirms Elon Musk's buyout plans
Tesla board confirms Elon Musk's buyout plans

Tesla Inc said on Wednesday its board is evaluating chief executive Elon Musk's idea of taking the company private after he brought the matter up for discussion last week. Musk has promised a sustained net profit starting in the third quarter. The company already has a $2 billion investment from Saudi Arabia's sovereign fund as well as Tencen...

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  • China's latest tariff threat brings clothing into the fray
China's latest tariff threat brings clothing into the fray

For example, he claimed that China was financing advertisements to convince Americans to stop Trump's trade agenda. "But one thing is sure: if the USA imposes tariffs on Chinese imports following an order of $60 billion, $200 billion, or even $500 billion, many Chinese companies will go bankrupt", he said.

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  • Trump's China Trade War Just Escalated by $16 Billion
Trump's China Trade War Just Escalated by $16 Billion

Trump's mission to reduce the United States trade deficit via the threat of tariffs has brought him into conflict with China as well as U.S. allies, roiling financial markets and raising fears of a global trade war the International Monetary Fund has warned may undermine the strongest economic upswing in years.

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  • Foetus found on American Airlines plane at LaGuardia Airport
Foetus found on American Airlines plane at LaGuardia Airport

According to sources, Flight 1942 from Charlotte, North Carolina, arrived at Terminal B on Monday around 10:44 p.m. While an NYC Medical Examiner is investigating the cause of the baby's death, American Airlines tweeted that Terminal B could experience delays Tuesday morning.

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  • Oil supported as new hedges placed, but higher supplies weigh
Oil supported as new hedges placed, but higher supplies weigh

In the previous week, total US inventories rose 3.8 million barrels, while supplies at Cushing fell 1.3 million barrels. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.3% at $69.16 a barrel. Official data from Russian Federation on Thursday showed that the country's oil output rose by 150,000 barrels per day ...

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  • China urges U.S. to 'calm down' after latest tariff threat
China urges U.S. to 'calm down' after latest tariff threat

It's unclear if the Chinese government is purposely pushing the value of its currency down or if that has been a market-based reaction to concerns about how USA tariffs could hurt China's economy. "If the United States takes further actions to escalate, China will retaliate , resolutely protecting our fair and legitimate rights", he added. Threa...

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  • Retailers Cash in on Sales Tax Holiday Weekend
Retailers Cash in on Sales Tax Holiday Weekend

In April, Gov. Scott Walker used a partial veto to extend the period to five days. It wasn't a holiday from work, but the sales tax holiday weekend in Tennessee has many retailers smiling today. Exempted items during tax-free weekend include shoes and clothing under $100 per item, computers under $1,000, computer hardware under $500 and ...

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  • Apple reaches $1,000,000,000,000 value
Apple reaches $1,000,000,000,000 value

A year ago its sales hit $229bn, with profits of $48.4bn, making it the most profitable listed USA company. Other technology companies with high-flying, trendy stocks are expected to join Apple in the $1 trillion club before long. Since 1980, IBM, Exxon Mobil, General Electric and Microsoft have also alternated as the largest publicly listed ...

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