Business

Trump doubles tariffs on Turkish steel and aluminum, says relations 'not good'

Trump doubles tariffs on Turkish steel and aluminum, says relations 'not good'

The lira dropped by over 11 percent in value in one day on Friday morning to almost six lira per dollar. Banks have exposure to Turkey saw their stocks slide, as worries over economic chaos continued. Turkish market shares of the total Egyptian exports is about 5%, which is a very modest share, said Mohamed Abu Basha, head of macroeconomic analysis at the Cairo-based investment bank EFG-Hermes, noting that the Turkish Lira slump is a big issue, which Turkish authorities will find ...


House of Fraser set to fall into administration

House of Fraser set to fall into administration

Ashley's Sports Direct empire is taking on House of Fraser's 59 United Kingdom stores, its stock and its brand name. Accountancy firm, EY who were appointed as administrator for the troubled fashion retailer have revealed that the 169 year store has been saved from closure with Mike Ashley stepping in and agreeing to buy this iconic chain.


TSX, Wall Street end lower as Turkey woes hit banks

TSX, Wall Street end lower as Turkey woes hit banks

Occidental Petroleum OXY.N fell 4.2 percent after it maintained a tepid production forecast for the year. The Turkish lira briefly dropped almost 20 percent against the dollar after US President Donald Trump tweeted that he has authorized the doubling of tariffs on steel and aluminum imports from Turkey.


FBI Investigating How Man with 'Screws Loose' Stole, Crashed Plane

FBI Investigating How Man with 'Screws Loose' Stole, Crashed Plane

Later, Mr Russell said: "I've got a lot of people that care about me". Moments later Russell crashed the plane onto the sparsely-populated Ketron Island . They described the man as "suicidal". "Commercial aircraft are complex machines", Beck said. "Never really knew it until now", said Richard Russell .


Tesla confirms AI chips, Musk threatens to take company private

Tesla confirms AI chips, Musk threatens to take company private

Tesla shares fell to $352.45, down about $4 from where they were before Musk's tweets on Tuesday sent them soaring to a near one-year high. The SEC, which had already been gathering information on Tesla's public pronouncements, added questioning of whether Musk's claim that he had secured funding for a takeover to the inquiry was meant to be factual, Bloomberg said, citing people familiar with the matter.