• Elon Musk apparently smoked marijuana in live podcast; Tesla stock down
Elon Musk apparently smoked marijuana in live podcast; Tesla stock down

But that's not it. The hiring of the accounting chief, Dave Morton , had been announced days before Musk abruptly took to Twitter last month and declared that he was planning to take Tesla private and had "funding secured". "Especially auto companies", Musk said. Morton and Toledano, whose departures come shortly after the U.S. Securitie...

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  • China's exports, imports slowed sharply in August
China's exports, imports slowed sharply in August

Earlier speculation was that those tariffs , proposed in July, would take effect in early October, though trade associations have been gearing up for the announcement to come as early as the end of this week. "Our concern with these tariffs is that the USA will be hardest hit, and that will result in lower United States growth and competitiveness ...

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  • Alibaba co-founder Jack Ma to retire
Alibaba co-founder Jack Ma to retire

Ma will provide transition plans over a significant period of time , the spokesman was quoted as saying, adding that the succession strategy is part of a management plan 10 years in the making. The co-founder of $420the billion internet company, Jack Ma, has announced that he will be retiring from Alibaba on Monday. He started Alibaba from his f...

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  • British Airways probes customer data theft, says 380,000 transaction details compromised
British Airways probes customer data theft, says 380,000 transaction details compromised

British Airways said on Thursday that it was investigating a theft of customer data from its website and from its mobile application. Chief executive Alex Cruz says the company is "100% committed" to compensating customers who have had financial information stolen.

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  • Oil Prices Rally On Supply Worries
Oil Prices Rally On Supply Worries

United States markets were closed on Monday for Labor Day. At that level, the Shanghai contract had a market share for July of 14 percent, compared with 29 percent for Brent and 57 percent for WTI . sanctions are going to lead to constrained markets across the globe. "If emerging markets get worse. that will impact crude markets", he said. In ...

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  • Ramaphosa: China is not trying to re-colonise Africa
Ramaphosa: China is not trying to re-colonise Africa

Sun Baohong, Chinese ambassador to Kenya, said late August that China has become one of the most favorable destinations for Kenyan students. China loaned around $125 billion to the continent from 2000 to 2016, data from the China-Africa Research Initiative at Washington's Johns Hopkins University School of Advanced International Studies shows.

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  • Coca-Cola buys United Kingdom coffee company Costa for US$5.1bn | Leadership
Coca-Cola buys United Kingdom coffee company Costa for US$5.1bn | Leadership

Rival PepsiCo, meanwhile, recently bought carbonated drink maker SodaStream, which produces machines that allow people to make fizzy drinks in their own homes. The deal comes hot the heels of another big money acquisition in the sector. "I'd like to welcome the team to Coca-Cola and look forward to working with them".

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  • Optimism Rises as Canada, US Resume NAFTA Talks
Optimism Rises as Canada, US Resume NAFTA Talks

On Monday, Mexico and the USA made an informal deal to update the North American Free Trade Agreement ( NAFTA ), after five weeks of negotiating without Canada present. President TrumpDonald John TrumpKoch group pours almost M into ads to boost three GOP Senate candidates Gillum wins stunner and other takeaways from Arizona, Florida McSa...

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  • Midwest farmers hope trade deal with Mexico will rescue corn prices
Midwest farmers hope trade deal with Mexico will rescue corn prices

The US, along with other nations, has frequently called on Ottawa to open its market to increased competition in dairy products. "While the U.S. administration had been given special "fast-track" authority by Congress to seek a new NAFTA deal, it is unclear whether that applies to a bilateral agreement like this one (ie a deal that does n...

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  • Trump Announces Historic Trade Deal With Mexico: Canada Next?
Trump Announces Historic Trade Deal With Mexico: Canada Next?

Last year, the Trump administration unveiled its goals for renegotiating the North American Free Trade Agreement , a deal that reshaped trade between Canada, Mexico and the United States. The Mexican peso also climbed. This would require the White House to send a letter to Congress on Friday, stating they have entered into a trade agreement wi...

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  • Mexico minister says trying to get NAFTA deal as soon as possible
Mexico minister says trying to get NAFTA deal as soon as possible

He also backed Trump's suggestion that an agreement is not far off. The Mexico-U.S. discussions have focused on crafting new rules for the automotive industry, which U.S. Lighthizer and Jared Kushner, Trump's son-in-law and adviser, declined to comment on Sunday afternoon. Canadian Foreign Minister Chrystia Freeland said on Friday her governm...

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  • US, Mexico said to agree to NAFTA deal as Canada awaits talks
US, Mexico said to agree to NAFTA deal as Canada awaits talks

The hope is to have a deal for Mexican President Enrique Pena Nieto to sign before he leaves office, and the more left-leaning Andres Manuel Lopez Obrador takes over as president. A percentage of workers for vehicle manufacturers would also have to make more than $16 an hour. "We'll see what happens", Trump said, adding that Mexico's election was...

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  • Markets welcome Fed speech aimd emerging market jitters
Markets welcome Fed speech aimd emerging market jitters

Analysts said growing USA political uncertainty, reinforced by the criminal conviction of one of Trump's ex-advisors this week, was keeping the dollar under pressure, despite the United States embarking on greater monetary tightening than elsewhere.

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  • Verizon sued by CA firefighters for slowing speeds during wildfire
Verizon sued by CA firefighters for slowing speeds during wildfire

He provided email correspondence as evidence. The company added that the incident had nothing to do with net neutrality. Bowden initially made the comments as part of a court battle over the issue. "Our bigger concern is the throttling will impact people accessing evacuation notices, maps and public warnings". Bowden said service was slowed to 1/...

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  • Oil Jumps 3% On Big US Crude Draw, Iran Sanctions
Oil Jumps 3% On Big US Crude Draw, Iran Sanctions

Refinery utilisation rates remained unchanged last week at 98.1% of total capacity, the highest rates since 1999. In June, China was the biggest foreign buyer of American crude, importing a record 15 million barrels that month. According to EIA, the inventories of gasoline and distillates increased by 1.2 million barrels and 1.8 million barrel...

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  • Putin calls United States sanctions 'pointless' while praising Trump summit
Putin calls United States sanctions 'pointless' while praising Trump summit

Discussions about foreign policy priorities, including Russian Federation, were also held with Secretary of State Mike Pompeo, Chief of Staff to the President General John Kelly and Adviser to the President Jared Kushner. Earlier this month the United States, citing the Salisbury incident, imposed sanctions against Russian Federation covering nat...

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  • China trade war escalates
China trade war escalates

The penalties, previously announced , apply to $16 billion of goods from both sides including automobiles and metal scrap from the United States and Chinese-made factory machinery and electronic components. The dispute centres around Mr Trump's demand for Beijing to drop its protectionist economic stance and buy more U.S. goods. The tariff...

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  • 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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