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Turkey had already retaliated against Trump's first round of tariffs on steel and aluminum imports that were imposed on the European Union in late May, ending a two-month exemption. sanctions aimed at pressuring North Korea to end its nuclear programs. "We will not give in, if you come at us with your dollars then we will find other ways to do business".
  • Erdogan says Turkey to boycott iPhone, other USA electronics

    Erdogan says Turkey to boycott iPhone, other USA electronics

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    The currency's climb followed retaliatory tariffs by Ankara against United States goods including rice, coal and cars. Apple has 22 percent of the smartphone market in Turkey, where 11.4 million units were sold past year, according to Ramazan Yavuz, research manager at IDC consultancy company.
  • Who is to blame for Turkey's financial crisis?

    Who is to blame for Turkey's financial crisis?

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    Turkey has raised tariffs on some USA products under the principle of reciprocity "in response to the US administration's deliberate attacks on our economy", Vice President Fuat Oktay wrote on Twitter on Wednesday. "In our own country we have Vestel", said Erdogan. "If the USA has the iPhone, there's Samsung on the other side", Erdogan said, referring to the top South Korean smartphone maker.
  • Erdogan calls on Turkey to 'boycott' iPhones and other U.S. electronic goods

    Erdogan calls on Turkey to 'boycott' iPhones and other U.S. electronic goods

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    The American pastor at the centre of the spiralling diplomatic row between the U.S. and Turkey has launched a new bid for freedom 22 months after he was detained on terror-related charges. What about the Turkish economy? "The global backdrop has changed and is now less supportive for Turkey, rendering political bluster ever more economically damaging, especially in the context of a heightened Iran-related sanctions from the U.S".
  • Erdogan vows action against 'economic terrorists' over lira plunge

    Erdogan vows action against 'economic terrorists' over lira plunge

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    Turkey's President Recep Tayyip Erdogan is not backing down. It fell as much as 12 per cent at one stage on Monday , then recovered to a loss of 8.5 per cent. In Asian trading, the euro also skidded to a one year low of $1.13, the single currency's lowest level against the USA currency since July 2017. The Bloomberg Commodity Index declined 0.8 percent.
  • Erdogan says crash of lira 'political plot' against Turkey

    Erdogan says crash of lira 'political plot' against Turkey

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    Apple, iPhone, and iPad are trademarks of Apple Inc., registered in the US and other countries. In the United States, early gains by technology giants such as Apple Inc, Amazon.com Inc and Google-parent Alphabet overshadowed declines in financial companies that are the most likely to be affected by the steep decline in the lira.
  • Turkish Central Bank Takes Steps To Curb Currency Crisis

    Turkish Central Bank Takes Steps To Curb Currency Crisis

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    It's been a rough few days in the world's emerging markets, led by a currency crisis in Turkey . Investors globally headed for safe harbors including the us dollar as the selloff in Turkey spread to emerging markets overseas, including South Africa's rand.
  • Tesla shareholder tells IGTV he’s 'not thrilled' about the take-private plan

    Tesla shareholder tells IGTV he’s 'not thrilled' about the take-private plan

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    The company's largest shareholders have declined to comment. As far as Musk's stated share price to take the company private, analysts stated that there's upside risk in the near term to around $400 but downside risk to $340, "if no firmer details emerge, as investors would likely increasingly debate Musk's credibility and over-focus on the shares' price and volatility".
  • Crypto Market Bleeds as SEC Delays VanEck Bitcoin ETF Decision

    Crypto Market Bleeds as SEC Delays VanEck Bitcoin ETF Decision

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    Securities and Exchange Commission dented enthusiasts' hopes for a VanEck exchange-traded fund backed by Bitcoin . They often provide access to every major asset class and are seen as great investment options since they are easy to use, transparent, flexible, and reasonably low cost.
  • Trump doubles steel and aluminum tariffs on Turkey

    Trump doubles steel and aluminum tariffs on Turkey

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    In addition to the steep drop in the Turkish Lira , which effectively reduces the impact of the tariffs , the USA has so far been unsuccessful in persuading Turkish President Recep Tayyip Erdoğan to release US pastor Andrew Brunson . These looming payments are one of the main reasons for the government's fragility, because a weaker lira makes that debt more expensive to pay off.
  • Lapid praises Trump as U.S. president announces fresh tariffs on Turkey

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    Trump said he had authorized higher tariffs on imports from Turkey, imposing a 20 percent duty on aluminum and 50 percent one on steel. "As he stated, the president has authorized the preparation of documents to raise tariffs on imports of steel and aluminum from Turkey", White House Deputy Press Secretary Lindsay Walters said.
  • Trump doubles tariffs on Turkey, stoking jitters

    Trump doubles tariffs on Turkey, stoking jitters

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    But those talks on Thursday showed no signs of breakthrough. That is because a trade war would make it even harder for Turkey to get the dollars it needs, so the lira would be even less valuable. That drained investor confidence in the central bank, leading to a further sell-off of the currency. The tech-heavy Nasdaq composite was down 83 points, or 1.1%, poised to end an eight-day winning streak .
  • Oil drops on slowing Chinese demand, US-China trade spat

    Oil drops on slowing Chinese demand, US-China trade spat

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    It shipped out nearly 3 million barrels per day of crude in September, equivalent to about 3% of global demand. Crude oil prices extended gains Tuesday as the Trump administration's sanctions against Tehran kicked in, setting the stage for a drop-off in production from the world's fifth-largest producer.
  • Tesla boss Musk considering taking firm private

    Tesla boss Musk considering taking firm private

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    Bullish on the performance and increased production of " Model 3 " cars, Tesla CEO Elon Musk is now planning to introduce a mini-car. The CEO wrote in a letter to employees Tuesday, revealing that he is genuinely considering moving Tesla off the public stock markets.
  • China warns of new tariffs on USA goods

    China warns of new tariffs on USA goods

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    The White House initially announced tariffs - 25 percent on steel and 10 percent on aluminum - arguing they would protect US companies and allow for the creation of new manufacturing plants - key Trump promises in the 2016 presidential campaign.
  • Apple becomes world's first trillion-dollar company

    Apple becomes world's first trillion-dollar company

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    The tech company's stock jumped 2.9 percent to end the day at $207.39, giving it a market capitalization of $1.002 trillion. The iPhone and MacBook maker has seen its stock rise over 50,000% since it was first listed as a public company in 1980.
  • Apple is officially worth more than $1,000,000,000,000

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    Indeed, although Apple does provide some limited ad-targeting capabilities based on App Store and News app usage, its heavy pro-privacy stance has led marketers to complain that it doesn't collect enough data on its customers for their liking, leaving advertisers feeling like "second-class citizens".
  • Apple hits the $1T milestone

    Apple hits the $1T milestone

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    Euro zone government bond yields dipped, and borrowing costs in Germany and France pulled back from seven-week highs. "It's important to keep in mind as we move into the September quarter". Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive. "Services are going to be the name of the game", Davuluri said.
  • RBI hikes lending rate, loans likely to become dearer

    RBI hikes lending rate, loans likely to become dearer

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    Interest rates were cut to 0.5% in March 2009 when the markets were in the grip of the banking crisis and remained at that level until August 2016 when they were cut to 0.25% in the aftermath of the European Union referendum. Many home owners are also locked into fixed-rate mortgages, and so will not feel an immediate impact from a base rate rise. It said its forecasts were based on bets by investors who expect another rate hike only in late 2019 or early 2020, with Bank Rate creeping up to ...
  • Bank of England raises interest rates to 0.75%

    Bank of England raises interest rates to 0.75%

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    Along with the decision on repo rate , the RBI also takes the decision on reverse repo rate, inflation, and GDP outlook. Many had expected a hike in May, but weaker than expected data stopped the committee from doing so. As an internal benchmark or reference rate for banks, the Marginal Cost of Funds-based Lending Rate (MCLR) is the minimum interest rate of a bank below which it can not lend to the loan seekers.
  • MoviePass is Raising Their Price As They Try to Become Profitable

    MoviePass is Raising Their Price As They Try to Become Profitable

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    And that's when a huge seismic shift happened. Over the weekend, MoviePass would not allow its users to buy tickets for Mission: Impossible - Fallout , the biggest movie now in theaters. MoviePass is on life support. First Run Movies opening on 1,000+ Screens to be limited in their availability during the first two weeks, unless made available on a promotional basis.
  • European Union insists farming ‘not part’ of United States trade deal, contradicts Trump

    European Union insists farming ‘not part’ of United States trade deal, contradicts Trump

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    Trump has threatened to place penalty taxes on up to $500 billion in products imported from China, a move that would dramatically ratchet up the stakes in the trade dispute involving the globe's biggest economies. He again singled out China for what he said was an attack on the U.S. farm belt. You know what happened? On Thursday Secretary of Commerce Wilbur Ross told reporters aboard Air Force One there is no timeline for when a deal with the European Union would be reached.
  • Amazon beats on profit, disappoints on revenue

    Amazon beats on profit, disappoints on revenue

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    The company accounts for almost half of all online retail sales in the United States. Excluding the $760 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 37% compared with second quarter 2017.
  • U.S. trade deal was on brink of collapse, Juncker says

    U.S. trade deal was on brink of collapse, Juncker says

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    The late-afternoon news that the meeting had eased transatlantic trade tensions fed a powerful late rally on Wall Street. So the fact that Trump's tariffs are generally unpopular, even in Midwestern states, doesn't matter politically almost as much as their potential appeal to the narrow slice of blue-collar swing voters that he needs if he's going to be re-elected.
  • EU Zero-Tariff Deal Lacks Details: Could it Be Easily Undone?

    EU Zero-Tariff Deal Lacks Details: Could it Be Easily Undone?

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    Talks would seek to "resolve" USA tariffs on steel and aluminium and Europe's retaliatory duties, a step back from Trump's import protections for us metal producers. His state has also been affected by retaliatory tariffs from the European Union on bourbon, and Barr said he didn't feel satisfied by the amount of specificity in Thursday's briefing on whether that would also be resolved soon.
  • Over $109bn wiped off Facebook's market cap after growth shock

    Over $109bn wiped off Facebook's market cap after growth shock

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    However, average revenue per user in the region rose despite the lack of growth. Nearly all of Facebook's revenue - $13 billion of the total $13.2 billion - came from online advertising, a sector dominated by the California social network along with Silicon Valley rival Google .
  • USA vehicle tariffs still aren't off the table, warns German industry group

    USA vehicle tariffs still aren't off the table, warns German industry group

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    This turmoil over tariffs is just the latest to hit struggling American farmers. "That's what we really aren't seeing", she said. 'American farmers want markets, not handouts, ' he said in a statement. Trump's tweet comes after his administration already imposed $ 34 billion on Chinese imports and targeted an additional $16 billion goods. Great for global economy'.
  • Iran's Suleimani threatens Trump: 'The Red Sea is no longer secure'

    Iran's Suleimani threatens Trump: 'The Red Sea is no longer secure'

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    In a televised speech Sunday, Iranian President Hassan Rouhani , stating that the USA can't block Iranian oil from the worldwide market, said to Trump, "Do not play with the lion's tail or else you will regret it". "Isn't it that now you are begging the Taliban to negotiate?" The ABC has cited unnamed senior security figures within the federal government as saying they believed the USA was eyeing Iran's nuclear facilities.
  • Facebook has worst day in stock market history

    Facebook has worst day in stock market history

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    The platform has been accused of helping violence spread in Myanmar , India and Sri Lanka. " Mark Zuckerberg isn't panicking", he said . Chief operating officer Sheryl Sandberg said the sweeping European Union regulations, which Facebook 'relocated' 1.5 billion users out of reach of, hadn't had a negative impact on ad revenue yet but that she was aware it wasn't "fully rolled out" during Q2.
  • Trump says China is targeting USA farmers, being ‘vicious’

    Trump says China is targeting USA farmers, being ‘vicious’

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    Many of them, from farm states, were also planning to relay messages from their constituents about how they would prefer markets be reopened than rely on additional government aid, as the White House had recently suggested with an offer of $ 12 billion for farmers affected by tariffs.
  • Did We Just Dodge a Trade War With Europe? - Hit & Run

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    But Juncker, who last week signed a new economic agreement with Japan, is not expected to make a specific trade offer as he meets Donald Trump . "This was a very big day for free and fair trade, a very big day indeed", Trump told reporters at the White House after meeting with European Commission President Jean-Claude Juncker.
  • Trade War Between US and EU Averted (For Now)

    Trade War Between US and EU Averted (For Now)

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    At that press conference, Trump said a deal with the European Union would would be a "win" on both sides of the Atlantic. Although both leaders said they would work towards resolving it, United States tariffs of 25 percent on steel and 10 percent on aluminium remain in place.
  • Enfermedad deja a Marchionne fuera de Ferrari

    Enfermedad deja a Marchionne fuera de Ferrari

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    El nuevo consejero delegado de FCA es Mike Manley , de 54 años, nacido en Edenbridge, Reino Unidos, era responsable de la marca Jeep desde 2009 y jefe de operaciones del grupo en Norteamérica desde 2015, mientras que el nuevo consejero delegado de Ferrari será Louis Camilleri y el presidente, John Elkannm .
  • NZ farmers dismayed at USA farm bailout as trade war deepens

    NZ farmers dismayed at USA farm bailout as trade war deepens

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    The EU will respond to any provocation coming from the USA on trade or any other matter, European Commission President Jean-Claude Juncker warned on Wednesday (18 July ) ahead of his trip to Washington to meet Donald Trump next week. If all of the tariffs that have been proposed take effect, they would bring down long-run U.S. GDP by 0.47 percent - about $118 billion - in the long term and cost more than 364,000 jobs , a new analysis from the Tax Foundation shows.
  • Trump, Juncker announce deal pulling back from US-EU trade war

    Trump, Juncker announce deal pulling back from US-EU trade war

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    The administration said the program was just temporary. Juncker's visit comes amid an escalating trade war between the US and the E.U.in the wake of Trump's decision to slap tariffs on imports of aluminum and steel last month. And Senator Rand Paul tweeted that "Tariffs are taxes that punish American consumers and producers". He told reporters he entered Wednesday's meeting with the intention of reaching an agreement with Trump.
  • US and European Union agree to work on trade barriers

    US and European Union agree to work on trade barriers

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    The aid program will go into effect on September 4, right after Labor Day. Gov. John Kasich (KAY'-sik) says Trump's imposition of tariffs on products from such allies as Canada under national security grounds was "completely absurd", and that now the president is resorting to "farm welfare" when USA farmers want trade.
  • Fiat Chrysler's Sergio Marchionne dies aged 66

    Fiat Chrysler's Sergio Marchionne dies aged 66

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    This year also saw the Alfa Romeo brand return to F1 as part of Marchionne's vision to get the Italian manufacturer even greater global exposure and drive profits for FCA. "With Sergio Marchionne Italy loses not only the most brilliant of its managers, but one of the symbolic figures of our country". Discussing how he changed the culture at Chrysler, Marchionne said in 2013 that he believed if a business has become dysfunctional, "the real problem sits at the top" - so, he added, "we ...
  • Trump celebrates 'American pride' by inspecting US-made goods

    Trump celebrates 'American pride' by inspecting US-made goods

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    The total bailout is reportedly about $ 12 billion , and the official announcement - which the network said would likely target dairy, pork and soy products - could come as soon as Tuesday afternoon, hours after the president's tweet. In addition, the government will work to open new markets. If Trump imposes a 25 percent tariff on imports of cars , trucks and auto parts, it "risks dragging us all down to a game of tit for tat retaliations that ultimately leave consumers in the U.S.as ...