• Trump Call For SEC To Study Reporting Rules Sparks Debate
Trump Call For SEC To Study Reporting Rules Sparks Debate

The SEC consists of five commissioners appointed by the president, although there now are only four in place, three named by Trump, including Clayton. Companies that want to move away from short-term scrutiny should instead stop publicly projecting the next quarter's earnings, Pozen added. Still, Van Sinderen cautions, six months can be a lon...

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  • Turkish lira steady despite new threats from Trump
Turkish lira steady despite new threats from Trump

US Treasury Secretary Steven Mnuchin told Mr Trump at a cabinet meeting on Thursday that sanctions were ready to be put in place if Mr Brunson were not freed. Following the announcement, the lira firmed briefly to 5.8699 from 6.04 to the USA dollar, but later eased back to 6.0200 at 1538 GMT. In a bid to soothe the markets, Turkish Finance Mi...

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  • Turkey Boosts Tariffs Amid US Feud
Turkey Boosts Tariffs Amid US Feud

He urged Turks to buy local or Korean mobile phones, instead of American iPhones. The move comes after the U.S. imposed sanctions on two Turkish ministers over the continued detention of an American pastor on terror-related charges, and President Donald Trump compounded the country's economic crisis by doubling steel and aluminium tariffs ...

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  • As rupee sinks to historic low, Modi govt blames 'external factors'
As rupee sinks to historic low, Modi govt blames 'external factors'

Kapil Sibal, former HRD minister, "congratulated" the prime minister for doing what the Congress could not for 60 years with regard to the rupee value. 1.09 against the USA dollar on Monday. However, according to an Economic Times report, Turkish lira , Russian ruble, Argentine peso have significantly weakened against the dollar.

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  • Elon Musk's Tesla still seeking funding for going private
Elon Musk's Tesla still seeking funding for going private

Musk said he had a July 31 meeting with representatives of the Saudi Arabia sovereign fund and left it "with no question" that a deal could be closed. Once those discussions are complete, Musk will bring a proposal to Tesla's board. The $420 buyout price would only be used for Tesla shareholders who do not remain with our company if it is priv...

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  • China out with retaliatory tariffs on U.S.
China out with retaliatory tariffs on U.S.

China imposes tariffs on US. Additional duties on the USA products in the first part of the list, worth 34 billion US dollars, came into force on July 6. CURRENCY NEWS: The central parity rate of the Chinese currency renminbi, or the yuan, weakened 4 basis points to 6.8317 against the U. China's box office revenue rose 13.45 percent previous y...

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  • Turkey is a 'target of economic war', Erdogan says
Turkey is a 'target of economic war', Erdogan says

Turkish President Recep Tayyip Erdogan and his newly appointed finance minister, Berat Albayrak , are due to speak at 2 p.m. local time Friday. Turkey's sovereign dollar-denominated bonds tumbled with many issues trading at record lows. The lira slid to a fresh record low against the US dollar.

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  • US stocks trade with modest losses amid renewed US-China trade tensions
US stocks trade with modest losses amid renewed US-China trade tensions

Announcing the new duties, the US Trade Representatives Office: "China directs and unfairly facilitates the systematic investment in, and acquisition of, US companies and assets to generate large-scale technology transfer". Beijing has already threatened to retaliate against U.S. products in kind, warning Washington against "blackmailing and pr...

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  • Oil rallies as Iran sanctions kick in
Oil rallies as Iran sanctions kick in

Under the arrangement, Iran's oil payments were deposited into accounts in oil-importing countries and used by Tehran to buy goods. The 6-million-barrel purchase was the first time that Indian Oil Corp (IOC)-which was the first Indian refiner to buy us oil last summer-has bought usa crude oil through a mini-term tender, the Indian company's D...

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  • Tesla board evaluating CEO Musk's idea to take company private
Tesla board evaluating CEO Musk's idea to take company private

The statement says Musk "addressed the funding for this to occur" in the conversations. Former SEC chair Harvey Pitt told CNBC that while the United States stock market regulator permits executives of publicly listed companies to use social media to make statements about their businesses, Musk's tweet was still "highly unprecedented".

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  • Trump going ahead with taxes on $16B in Chinese imports
Trump going ahead with taxes on $16B in Chinese imports

Amid a steep correction in crude prices, China said on Wednesday that it would impose a 25-percent tariff on U.S. imports worth US$16 billion, including crude oil, diesel, cars, coal, and steel products, in retaliation to the U.S. Additionally, an executive from China's Dongming Petrochemical Group said at the time that he expected Beijing ...

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  • Facebook Wants Banks to Hand Over Your Financial Information
Facebook Wants Banks to Hand Over Your Financial Information

Reports now claim the platform wants to gain access to its users" financial information to "boost engagement.' . "We do not use purchase data from banks or credit card companies for ads", company spokesperson Elisabeth Diana told The Wall Street Journal .

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  • Elon Musk says he's considering taking Tesla private
Elon Musk says he's considering taking Tesla private

Tesla did not immediate respond to requests for comment. The firm's shares climbed more than 6% after the tweet, but the Nasdaq later halted trading pending an announcement. The Financial Times, citing unnamed people with direct knowledge of the matter said Saudi Arabia's Public Investment Fund had built a stake of between 3 and 5 percent of Tels...

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  • Apple becomes first publicly traded company to be worth $1 trillion
Apple becomes first publicly traded company to be worth $1 trillion

In March we talked about the race between Apple , Amazon , Google and newcomer Microsoft to become the first US-based company valued at a trillion dollars. Apple's software and services revenue, including the App Store, which recently turned 10 years old on July 10, along with Apple Music and cloud services, jumped 31 percent year-over-year.

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  • Ohio offers sales tax free weekend
Ohio offers sales tax free weekend

The Ohio Department of Taxation has announced a two day, sales-tax holiday . The tax holiday qualifies for personal-use items only. People may purchase far more goods than usual on the holiday , but they tend to wait until those dates to shop, making business slower between the tax exemptions.

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

While Apple was hovering just beneath the historic 13-figure number since late July, it wasn't until earlier this morning after stocks rose 2.7% to $207.05 - the highest in company history - that it became official. This makes Apple worth more than the economies of countries such as Saudi Arabia, Switzerland and Taiwan. Amazon had the second-la...

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  • Facebook Stock Decline Is Largest One-Day Drop in U.S. History
Facebook Stock Decline Is Largest One-Day Drop in U.S. History

Facebook has lost around one million users in Europe thanks to new data protection regulations. At one point during the call, Facebook shares were trading down as much as 24 percent, an unprecedented drop for a large firm. In fact, the call with Zuckerberg and his colleagues only made things worse for Facebook's share price. In the wake ...

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  • 'It worries me': Farmers on tariff relief
'It worries me': Farmers on tariff relief

Riley says at this point it's unclear how much - if any - of the aid will make it to Colorado. The US and European Union will "hold off on other tariffs" while negotiations proceed, Mr Juncker said. exports of soybeans are a big deal but pork has been greatly impacted as well by reduction in exports to China and through NAFTA to Mexico most of ...

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  • Trump Administration to Offer Multibillion-Dollar Bailout for US Farmers
Trump Administration to Offer Multibillion-Dollar Bailout for US Farmers

Trump is also set to meet Wednesday with European Commission President Jean-Claude Juncker. Farmers have been a particular target in the current clash over trade policy as other countries seek to retaliate for USA duties on Chinese goods as well as on steel and aluminum imports from the European Union , Canada and Mexico.

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  • Trump China tariff, trade pushes up Make America Great Again hat price
Trump China tariff, trade pushes up Make America Great Again hat price

Canada and Mexico, members of the North American Free Trade Agreement (NAFTA) with the U.S., have not been spared the Washington offensive on steel and aluminum and have imposed their own counter-tariffs on United States goods. Several of the more than 20 governors attending the annual meeting of the National Governors Association said shifting USA...

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  • Inflation holds firm as retail offsets energy and fuel hikes
Inflation holds firm as retail offsets energy and fuel hikes

Mike Hardie, its head of inflation, explained: "Consumers have been feeling the benefit of the summer clothing sales, and computer game prices have also fallen". Upward pressure on prices came from motor fuels, domestic gas and electricity but this was offset but falling prices for clothing and games, toys and hobbies.

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  • Sterling tumbles after United Kingdom parliament vote on trade bill
Sterling tumbles after United Kingdom parliament vote on trade bill

Shadow Scotland Secretary Lesley Laird said the fact that no Scottish Conservative MPs rebelled against the government meant "Ruth Davidson's pledge that her MPs would stand up for Scotland was nothing short of a lie". The commission said Grimes and an official from Vote Leave both have been referred to police "in relation to false declarations of ...

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  • The Stakes Just Got Higher in the 21st Century Fox v
The Stakes Just Got Higher in the 21st Century Fox v

Comcast gatecrashed Mr Murdoch's attempt to buy the 61% of Sky his company did not already own in February while the Fox deal awaited government approval. Sky gives Fox and Comcast a rare opportunity to diversify out of the United States and reach more consumers directly. The end of the week is also be the deadline for Comcast to post an offe...

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  • May stares down Brexit plan backlash as ministers quit
May stares down Brexit plan backlash as ministers quit

The departures of David Davis and Boris Johnson clearly rip apart what appeared to be the makings of a fragile Brexit ceasefire among some of the big players in the Conservative Party. Arch-Brexiteer Jacob Rees-Mogg said he did not believe there would be a vote of confidence in Mrs May by Tory MPs, but called on her to change her Brexit s...

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  • Day 2 of Thai cave rescue operation
Day 2 of Thai cave rescue operation

The cave system, in a limestone mountain range bordering Myanmar in northern Thailand , has proven to be a formidable challenge for the global rescue coalition drawing some of the world's best divers who have volunteered to help in the operation alongside Thai Navy SEALs.

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