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On Friday, Turkey's state-run Anadolu news agency said a high court in Izmir had upheld a lower court's decision earlier this week to keep Brunson under house arrest . They want to hold our wonderful pastor. "Not fair, not right", he added. "President Trump's imposition of tariffs on steel and aluminum is about protecting American national security", the spokesperson said.
  • Turkey's floundering economy exacerbated by Trump tariffs

    Turkey's floundering economy exacerbated by Trump tariffs

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    Bank shares across Europe fell and the euro slipped to its lowest since July 2017 as the Financial Times quoted sources as saying the European Central Bank was concerned about European lenders' exposure to Turkey. The US has refused to extradite Fethullah Gulen, who lives in Pennsylvania. Last week, the Trump administration said it would review Turkey's duty-free access to US markets, a decision that could impact some $1.7 billion of imports.
  • Oil holds gain near $69 amid declining United States crude inventories

    Oil holds gain near $69 amid declining United States crude inventories

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    The official selling price for Oman crude oil during July 2018, for the delivery month of September 2018, settled at US$73.17, lower by US$0.44 only compared with June trading prices. that's when we really see the risk of prices going well into the $ 80s and potentially even into the $90s, but very critical is how much Iranian production we lose".
  • China threatens new tariffs on $60 billion of US goods

    China threatens new tariffs on $60 billion of US goods

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    The White House has imposed a 25 percent tariff on $50 billion worth of Chinese goods containing "industrially significant technologies" in an escalating, tit-for-tat conflict between the world's two largest economies . But on Wednesday (1 August) the US Trade Representative said it was considering increasing this rate from 10% to 25%, with items likely to be hit including raw materials such as yarns and fabric, silk and cotton, lace and embroidery.
  • PepsiCo veteran Ramon Laguarta to replace Indra Nooyi as CEO

    PepsiCo veteran Ramon Laguarta to replace Indra Nooyi as CEO

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    When Nooyi took the reigns, she was Pepsi's first foreign-born chief executive. She was also one of few women of color to head a major company. Laguarta was widely expected to take over as CEO following its promotion last year and will be PepsiCo's sixth CEO in its 53-year history.
  • Jobs report misses as unemployment rate slides near 18-year low

    Jobs report misses as unemployment rate slides near 18-year low

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    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. Faucher writes that as that happens, job growth will slow down because businesses will find it more hard to recruit new hires. The Fed's preferred inflation measure, the personal consumption expenditures (PCE) price index excluding the volatile food and ...
  • Protests continue in Iran for fifth day as United States sanctions loom

    Protests continue in Iran for fifth day as United States sanctions loom

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    Iran's Revolutionary Guards confirmed on Sunday it had held war games in the Gulf over the past several days, saying they were aimed at "confronting possible threats" by enemies, the state news agency IRNA reported . Also last month, China , which is Iran's biggest customer, said it did not accept unilateral sanctions against Iran. The deal was thrown into doubt by the US decision to withdraw from a 2015 nuclear deal between Tehran and major powers and reimpose sanctions, part of ...
  • USA may raise tariffs on US$200b in Chinese goods to 25%

    USA may raise tariffs on US$200b in Chinese goods to 25%

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    It's the same story for liquefied natural gas (LNG), with only one USA cargo booked for arrival in August, and it departed the Gulf of Mexico on July 1, before much of the current escalation in the trade dispute. This is down nearly 16 percent from the June peak, a period that coincides with the ramping up of tariffs by the United States, coupled with increasingly bellicose rhetoric.
  • Sales tax holiday is this weekend

    Sales tax holiday is this weekend

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    North Carolina did have a sales-tax holiday shopping weekend from 2002 until 2013, when the state Legislature under then-Gov. Natalie Wakefield said her family always shops during tax-free weekend. State Sen. Rob McColley, R-Napoleon, expects Ohioans to save millions of dollars this year on back-to-school shopping. The state allows a wide variety of clothing items to go untaxed including fur coats, golf clothes, lingerie, and wedding apparel.
  • Apple becomes world's first public company worth $1 trillion

    Apple becomes world's first public company worth $1 trillion

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    Buoyed by a stronger than expected earnings report for the second quarter on Tuesday, Apple became the first American company ever to be worth $1 trillion Thursday. Apple's Earnings Per Share (EPS) grew by 40 percent year over year, and revenue grew by 17 percent year over year. SAN FRANCISCO-Apple Inc. became the first $1-trillion publicly listed United States company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in ...
  • Tesla's biggest net loss helps meet production target

    Tesla's biggest net loss helps meet production target

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    In a statement released after the markets closed, Tesla said it expects to produce 50,000 to 55,000 Model 3s in the third quarter, an increase of around 75% from the first quarter. Musk, the eccentric billionaire, has been a lightning rod for controversies. After a struggle Musk blamed in part on relying too much on automation, the carmaker put off expenditures toward doubling that rate until it was achieved .
  • Facebook Stocks Plummet to an Unprecedented Degree

    Facebook Stocks Plummet to an Unprecedented Degree

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    The lawsuit seeks class-action status and unspecified damages. The company also said revenue growth from emerging markets and the company's Instagram app, which has been less affected by privacy concerns, would not be enough to fix the damage.
  • Facebook market value plunges $119 billion

    Facebook market value plunges $119 billion

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    Brian Wieser at Pivotal Research Group said the company appears to have hit a "wall" on growth in advertising . Worldwide daily user growth for Facebook's namesake service slid for its sixth straight quarter, bringing it to almost 1.5 billion users in the second quarter.
  • Risk of flooding as thunderstorms set to bring heatwave to end

    Risk of flooding as thunderstorms set to bring heatwave to end

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    Thames Valley Police said a man's body was recovered from the Jubilee River in Slough, adding that his death is not being treated as suspicious. Essex Police said the search for a teenager who was last seen in water near Clacton Pier on Thursday evening resumed on Friday morning.
  • Farmers React to Trump Administration’s $12 Billion Relief Plan

    Farmers React to Trump Administration’s $12 Billion Relief Plan

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    Juncker declared he "had the intention to make a deal today and we made a deal today". Still, the deal announced Wednesday with the European Union is an encouraging sign that America's trade partners may be able to placate the Trump administration with offers to buy more US goods, averting a trade war that the International Monetary Fund has warned may undermine the strongest global upswing in years.
  • Facebook loses $130 bn in just two hour, Zuckerberg $17 bn

    Facebook loses $130 bn in just two hour, Zuckerberg $17 bn

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    The stock slide began right after Facebook reported second-quarter results after the market closed Wednesday. In fact, it would have wiped out 87 percent of the billionaires in Bloomberg's index. Facebook said that it brought in adjusted earnings of about $1.74 per share for the period, which was two cents ahead of the Wall Street consensus estimate of $1.72 per share, according to Thomson Reuters .
  • Former Ferrari chief Marchionne dies

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    The Chrysler deal was part of a long-standing campaign Marchionne had waged to spur consolidation in the auto industry, which he claimed had far too much capacity for all players to survive. The orchestration of the Fiat-Chrysler merger in 2014 was seen as the height of his achievement, and in recent years he had switched the strategy of the company to focus on SUVs, particularly from the Jeep brand.
  • Alphabet's quarterly profits fall after $5 billion European Union fine

    Alphabet's quarterly profits fall after $5 billion European Union fine

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    TAC, an important metric in Google's ad business, crept up to 23% of ad revenue in Q2, up slightly from the 22% reported during the same period a year ago. "Our investments are driving great experiences for users, strong results for advertisers, and new business opportunities for Google and Alphabet", said Ruth Porat , chief financial officer for both Alphabet and Google in a statement.
  • Trump threatens more tariffs on United States trading partners

    Trump threatens more tariffs on United States trading partners

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    When Donald Trump announced his tariffs plan in April he promised that it would only work to benefit farmers. The imposition of punishing tariffs on imported goods has been a favored tactic by Trump, but it has prompted US trading partners to retaliate, creating risks for the economy.
  • Pompeo: Some US Korean War Remains to Come Home Soon

    Pompeo: Some US Korean War Remains to Come Home Soon

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    That meeting did not materialize. Trump said that Putin would be involved "in the sense that he is with us". "We will be ready". South Korean authorities have opened an investigation into a United Nations panel's finding that North Korea transhipped over 9,000 tons of coal, disguised as Russian exports, to South Korean ports in Incheon and Pohang, North Gyeongsang, last October.
  • Oil prices rise as concerns about oversupply ease

    Oil prices rise as concerns about oversupply ease

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    West Texas Intermediate crude for August delivery, which expires Friday, rose $1.34 to $70.10/bbl at 10:05 a.m. on the New York Mercantile Exchange. Following a massive global supply glut, prices had been propped up in recent months by a production cap agreement led by oil cartel OPEC and Russian Federation, but this has since been scaled back.
  • Amazon Prime Day: Back to school deals announced

    Amazon Prime Day: Back to school deals announced

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    It makes you eligible for exclusive Prime deals and brands as well as reading material for your Kindle. Plus, Amazon has been raining random early Prime Day discounts on Prime members since July 3.Now, dont freak out if youve missed the buzz until now.
  • US Ratchets up China Trade War, Threatens New Tariffs

    US Ratchets up China Trade War, Threatens New Tariffs

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    Asked what Beijing would do, foreign ministry spokeswoman Hua Chunying gave no details but said, "We will take firm and forceful measures". S&P 500 and Dow futures dropped around 1 percent, pointing to a weak opening on Wall Street later on Wednesday.
  • U.S. ambassador leaves door open to Trump meeting with Johnson

    U.S. ambassador leaves door open to Trump meeting with Johnson

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    As May attempts to unify her party behind her proposals, commentators said Trump meeting Johnson would suggest backing for his view that May's plans would inhibit Britain's ability to forge new free trade deals. His trip coincides with a tumultuous week for the British prime minister after two senior ministers resigned in protest at her plans for trade with the European Union after Britain leaves next March.
  • Iran tells Trump to stop tweeting about oil prices

    Iran tells Trump to stop tweeting about oil prices

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    Hossein Kazempour Ardebili was quoted by the oil ministry's website Thursday. However, oil prices have shot up and Trump, anxious about the impact on United States voters ahead of November midterm elections, is appealing to the Saudis for help.
  • Trump says OPEC is 'doing little' to lower gas prices

    Trump says OPEC is 'doing little' to lower gas prices

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    Kazempour accused Trump of trying to ramp up tensions between Iran and its regional rival, Saudi Arabia . Cutting prices can be seen as an indication that a country wants to supply more crude. The average cost of gasoline has risen nearly 60 percent from a cyclical low of $1.87 a gallon in February 2016 to $2.97 last month. USA crude inventories fell by 4.5 million barrels in the week to June 29 to 416.9 million barrels, according to the American Petroleum Institute (API) on Tuesday.
  • United States tariffs on Chinese goods to come into effect

    United States tariffs on Chinese goods to come into effect

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    ASIAN ANGST The ongoing angst over U.S. President Donald Trump's trade tariffs had extended the recent slide in Asian markets overnight, in particular Chinese shares which are now deep into "bear" market territory. "It has frequently waged wars against other sovereign countries and made use of the dominant influence of the USA dollar in the global markets to fleece other countries.
  • Mexican Peso Jumps After Lopez Obrador’s Conversation With Trump

    Mexican Peso Jumps After Lopez Obrador’s Conversation With Trump

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    Lopez Obrador - popularly known as AMLO - published a book previous year that was sharply critical of Trump , fueling concern he might prove more combative with Mexico's largest trading partner. The morning after his crushing election victory, Mexico's president-elect Andres Manuel Lopez Obrador thanked President Donald Trump for his congratulation message and said he'll contact the USA leader to "reach an understanding".
  • Today Is the Day Every Last Toys R Us Store Closes

    Today Is the Day Every Last Toys R Us Store Closes

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    The second-to-last line, "Don't ever grow up", is a riff on Toys R Us' famous jingle: "I don't want to grow up, I'm a Toys R Us kid". The company had $5 billion in debt after a leveraged buyout that left it unable to invest. Will the Toys R Us name and mascot disappear forever? Drugstores like CVS Health Corp (CVS.N) and Rite Aid Corp (RAD.N) and discount outlets like Dollar General Corp (DG.N) or TJ Maxx (TJX.N) may also stock their shelves with more toys, they said.
  • President Trump bashes Harley-Davidson over production move, tweets 'We won't forget'

    President Trump bashes Harley-Davidson over production move, tweets 'We won't forget'

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    Asked if Trump still feels that tariffs are the best option, White House press secretary Sarah Huckabee Sanders told reporters Monday that "the European Union is attempting to punish USA workers with unfair and discriminatory trade policies, and President Trump will continue to push for free, fair and reciprocal trade in hopes that the EU will join is in that".
  • Shopping online? Now you will have to pay taxes

    Shopping online? Now you will have to pay taxes

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    That's a question on many minds after Thursday's Supreme Court ruling in South Dakota v Wayfair (see EcommerceBytes' article , "Supreme Court Throws Out Longstanding Sales Tax Rule-Book", published on Saturday). Small businesses may have to figure out how to comply with various state sales tax laws, though there are software options to help. Sales tax collection in Florida already has been evolving.
  • Bithumb: Hackers 'rob crypto-exchange of $32m'

    Bithumb: Hackers 'rob crypto-exchange of $32m'

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    The $30m Bithumb hack announced on Twitter on June 20, 2018 , affected the cryptocurrency markets, but prices held reasonably firm. Twitter user RedDragon_ posted an email screenshot which reads, "We noticed that between last night and today early morning, about 35,000,000,000 KRW worth cryptocurrencies have been stolen ".
  • Trump escalates China trade war with extra tariffs

    Trump escalates China trade war with extra tariffs

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    It gave no details. TRADE TENSIONS: Trump directed the U.S. Trade Representative to prepare new tariffs on $200 billion in Chinese imports, stepping up a dispute companies and investors worry could drag down global trade and economic growth.
  • European Union slaps revenge tariffs on United States as trade war erupts

    European Union slaps revenge tariffs on United States as trade war erupts

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    EU countertariffs on a list of United States products would come into force on Friday, the European Commission said Wednesday. Europe's autos stocks sold off rapidly, down as much as 1.3 percent, and Germany's DAX index fell into negative territory, down 0.2 percent as big German carmakers Daimler , Volkswagen (VOWG_p.DE) and BMW , which are heavily reliant on USA vehicle sales, suffered.
  • US Supreme Court Rules States Can Tax Online Sales

    US Supreme Court Rules States Can Tax Online Sales

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    The decision, in which South Dakota prevailed over the online furniture retailer Wayfair , immediately sent ripples through the internet shopping industry sending shares tumbling in Amazon , eBay , Etsy and others. Already, South Carolina expects to collect about $346 million in sales taxes from online sales in 2017-18, according to an October analysis by the state's Revenue and Fiscal Affairs Office.
  • Tesla plans to cut 9 percent of its jobs companywide

    Tesla plans to cut 9 percent of its jobs companywide

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    Musk has stated that 5,000 units a week by the end of the year is a critical number for Tesla to achieve sustainable profitability - something it has never done once in its 15-year history. For almost all of its history, Tesla has put up losses while investing heavily in technology, manufacturing plants and an extensive car-charging network.
  • Pompeo tries to reassure North Korea about denuclearization

    Pompeo tries to reassure North Korea about denuclearization

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    That modest vision marks a break with the stratospheric goals he set after he agreed on March 8 to this meeting. "There is a very wide gap between the USA and North Korean negotiating positions, and finding common ground will require a sustained diplomatic process with high-level buy-in from Pyongyang and Washington", Daniel Wertz, associate director of the National Committee on North Korea , told Newsweek .