• Oil prices rise on Iran sanctions, but US-China row mutes trading
Oil prices rise on Iran sanctions, but US-China row mutes trading

Iran , a member of the Organization of the Petroleum Exporting Countries (Opec) and Opec's third-largest oil producer , said earlier this week no other Opec member should be allowed to take over its share of oil exports. USA crude inventories fell 5.8 million barrels last week, the Energy Information Administration said, exceeding the 1.5 millio...

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  • China trade war escalates as latest tariffs kick in
China trade war escalates as latest tariffs kick in

Beijing began implementing the new tariffs on Thursday, when the U.S. said it would begin collecting extra duties in retaliation for what it claimed were unfair Chinese trade practices. However, Trump on Monday told Reuters in an interview he did not "anticipate much" from this week's talks. "In order for us to get a positive result out of...

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  • Julie Bishop May Also Be Contesting The Liberal Leadership Spill
Julie Bishop May Also Be Contesting The Liberal Leadership Spill

But Dutton's supporters on Thursday could not find 43 lawmakers prepared to sign their names to a petition demanding a leadership ballot. "And that's been stated by the number of people who have been involved in this", he continued. "I'm sorry. You deserve better than numerous things our Federal Parliament has served up to you for the past 10 years...

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  • Trump's lawyer pleads guilty to fraud, implicates president
Trump's lawyer pleads guilty to fraud, implicates president

But by the time Trump weighed in on the two events on Wednesday morning, it was clear that his opinion of his two former employees differs wildly. Shortly before Cohen officially plead guilty , Daniel's lawyer Michael Avenatti tweeted about how her refusal to remain silent has helped change the course of Trump's presidency.

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  • Trump Calls On SEC to Study Ending Quarterly Reporting
Trump Calls On SEC to Study Ending Quarterly Reporting

The president on Friday said he has asked federal regulators to study whether public companies should be required to report results half as often as they now do - every six months instead of every three months, or once a quarter. Two influential figures, JPMorgan Chase CEO Jamie Dimon and billionaire investor Warren Buffett, recently urged to...

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  • 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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