Business


Turkish Currency Collapses After Trump Doubles Metals Tariffs

Andrew Craig Brunson , an evangelical pastor from Black Mountain, North Carolina, arrives at his house in Izmir, Turkey, Wednesday, July 25, 2018. "Turkey has been trending towards authoritarianism & becoming more anti-American". Adding to investors' concerns, Erdogan pledged a continuation of his debt-fueled construction policy to boost the economy, which is blamed for Turkey's rampant inflation and has added to currency weakness.


Turkey says Trump tariff move will harm ties, vows retaliation

Turkey says Trump tariff move will harm ties, vows retaliation

The lira dropped by over 11 percent in value in one day on Friday morning to almost six lira per dollar. Friday's drop in the euro, to a one-year low of $1.14, stems in part from concerns that some European banks have considerable exposure to loans in Turkey.


US Will Sanction Russia After UK Nerve Agent Attack

US Will Sanction Russia After UK Nerve Agent Attack

The sanctions were imposed under the provisions of the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 , which mandates that once the government has determined that a country has used chemical or biological weapons in violation of global law or even made "substantial preparations" to do so, sanctions must be imposed.


New York City Uber cap to be decided today

New York City Uber cap to be decided today

NY plans to cap ride-hailing services including Uber Technologies Inc. and Lyft Inc., becoming the first US city to take such a step. The first such cap by any major USA city was part of a package of measures that also includes setting a minimum wage for drivers.


Despite Weak Teapot Demand, China's Oil Imports Recover In July

Despite Weak Teapot Demand, China's Oil Imports Recover In July

The tranche of 25 per cent tariffs - which covers 279 products including electronic parts, plastics, chemicals, batteries, tractors and railway cars - follows $US34 billion worth of tariffs announced by the USA government in July. Year-on-year, the growth of China's exports to the USA slowed to 11 percent last month from 12.5 percent in June, while import growth accelerated to 11 percent from 9 percent.


Snapchat stock pops despite drop of 3 million users

Snapchat stock pops despite drop of 3 million users

Saudi Arabia's Prince Alwaleed bin Talal has bought a 2.3% stake in Snap - the company behind Snapchat - for $250m (£193m). In announcing his investment , Prince Alwaleed called Snapchat "one of the most innovative social media platforms in the world".