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Markets

Nvidia's crypto business is dead and it's never coming back, the chipmaker said on its second-quarter earnings call . Shares of NVDA stock traded down $1.64 during trading hours on Thursday, reaching $257.44. Analysts estimated $3.11 billion. He has convinced owners of data centres that modified graphics chips are the best solution to handle the surge in artificial intelligence processing that is fuelling the growing use of voice and image recognition.
  • Turkish lira rallies as Qatar makes $15 bil. loan pledge

    Turkish lira rallies as Qatar makes $15 bil. loan pledge

    Markets

    Ismail Cem Halavurt, Brunson's lawyer, applied to the higher court after the appeal was also rejected by Izmir's 2nd High Criminal Court on Wednesday. "We have more that we are planning to do if they don't release him quickly", Mnuchin said during the meeting. Erdogan, hinting at a trade for Brunson, said in a speech previous year that if the USA turned over Gülen to the Turkish authorities "we will do what we can in the judiciary to give you this one".
  • Turkish lira rebounds after Qatar pledges $15 billion

    Markets

    In a conference call with thousands of investors and economists, Albayrak - who is President Tayyip Erdogan's son-in-law - said Turkey fully understood and recognized all its domestic challenges but was dealing with what he described as a market anomaly.
  • White House: 'We Won't Forget' How Turkey is Treating US Pastor

    White House: 'We Won't Forget' How Turkey is Treating US Pastor

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    The pastor has been detained in Turkey for 21 months on "terrorism" charges - suspected of having ties to the outlawed Gulenist movement - along with espionage accusations. Turkish President Recep Tayyip Erdogan has accused the U.S. of trying to "bring Turkey to its knees". On Wednesday, Qatar pledged $15 billion to help Turkey through its economic and currency crisis.
  • Second night of rescue efforts after deadly Italy bridge collapse

    Second night of rescue efforts after deadly Italy bridge collapse

    Markets

    The ceremony will be presided over by Cardinal Angelo Bagnasco, the Genoa archbishop. The Interstate 35W bridge, whose collapse into the MS river killed 13 people, was also built in the 1960s, though federal investigators ultimately concluded that poor maintenance wasn't the main cause of the disaster.
  • How strong is the USA dollar's position as a reserve currency?

    How strong is the USA dollar's position as a reserve currency?

    Markets

    Cavusoglu therefore, called on Washington "remain loyal to ties based on traditional friendship and North Atlantic Treaty Organisation alliance" with Turkey. Angered by the continued detention of an American pastor, the U.S. government imposed sanctions on two cabinet ministers and threatened more. Russian Federation backed Erdogan in urging countries to do business in their own national currencies rather than dollars.
  • China files WTO challenge to US tariffs on solar panels

    China files WTO challenge to US tariffs on solar panels

    Markets

    China's commerce ministry accused Washington of erecting trade barriers while subsidising its domestic industry. A spokesperson from China's Ministry of Commerce said on Tuesday that the tariffs are suspected of violating WTO rules and therefore undermining the WTO's authority.
  • Lira rallies after Turkey raises tariffs on United States imports

    Lira rallies after Turkey raises tariffs on United States imports

    Markets

    Those consequences are US sanctions and a doubling of tariffs on Turkish steel and aluminum, announced by President Trump on Friday. Relieving tensions in a case that annoyed Brussels, a Turkish court Tuesday released two Greek soldiers detained since March on espionage charges for illegally crossing the border.
  • Various Scenarios for Brexit: Deal, No Deal, New Referendum?

    Various Scenarios for Brexit: Deal, No Deal, New Referendum?

    Markets

    GBP/AUD has recovered most of last week's losses since last Thursday, but "no deal" Brexit fears have been keeping a lid on Sterling (GBP) strength. The latest stats showed a downturn in the United Kingdom unemployment rate in June, with the figure now sitting square at 4 per cent. Final figures to look out for include Australia's employment figures and British retail sales stats.
  • Equities enjoy breather as Turkish lira rebounds

    Equities enjoy breather as Turkish lira rebounds

    Markets

    Behind the scenes, however, diplomatic dialogue appears to have resumed. Although the lira gained some respite on Tuesday, investors say measures taken by the central bank on Monday to ensure liquidity failed to address the root cause of lira weakness.
  • Bitcoin dips below $6,000 as nearly every cryptocurrency drops

    Bitcoin dips below $6,000 as nearly every cryptocurrency drops

    Markets

    As per the global charts on CoinMarketCap , the cryptocurrency market has dipped to a low of $189 billion which is the lowest in the last nine months since November 2017. Bitcoin fell from around $17,000 at the start of the year and lost 6pc of its value over 24 hours. Data on the CoinMarketCap shows that except the Bitcoin , nearly all the other top-twenty cryptocurrencies have lost between 10-20%.
  • Italy bridge collapse death toll rises to 39

    Italy bridge collapse death toll rises to 39

    Markets

    Italian authorities from the region of Liguria have raised to 26 the number of dead in the collapse of a highway bridge in the port city of Genoa . One of the first rescuers to arrive at the site Tuesday told CNN he faced a "devastating scene", the ground littered with cars and debris, and people screaming to be freed.
  • Canopy soars 30% as Constellation boosts stake with $5B investment

    Canopy soars 30% as Constellation boosts stake with $5B investment

    Markets

    The shares are being bought at a price of $48.60 each, which is a 51.2% premium to the closing price on August 14, 2018. Speaking on a conference call in July , chief financial officer David Eric Klein said that Constellation won roughly $258 million in "pre-tax unrealised gain from the change in fair value of the Canopy Growth investment and warrants", bringing its net gain up to $700 million.
  • Turkey court rejects new appeal to release detained U.S. pastor

    Turkey court rejects new appeal to release detained U.S. pastor

    Markets

    The growing tensions between Washington and Ankara have sent the Turkish currency tumbling to historic lows. Turkey's lira has plummeted almost 40 percent this year due to concerns over Erdogan's growing influence on the economy. US Pastor Andrew Brunson (C) is escorted by Turkish plainclothes police officers as he arrives at his house in Izmir, Turkey, on July 25, 2018. White House spokesperson Sarah Sanders (Rear) attends a press briefing at the White House in Washington D.C., the ...
  • Tencent has a major gaming problem

    Tencent has a major gaming problem

    Markets

    The results are weighing on Chinese tech stocks traded in the US. Company chairman and chief executive Pony Ma Huateng, who let Lau respond to analysts' questions about the gaming business, said mobile games revenue was affected by external factors, but there was still "healthy growth in the number of people playing our mobile games each day in China and overseas".
  • China: Trade talks with the USA are back on

    China: Trade talks with the USA are back on

    Markets

    A statement from the ministry said commerce vice-minister Wang Shouwen would lead the delegation that will meet US Treasury undersecretary David Malpass to discuss "economic and trade issues between China and the US". Oil futures slid on Wednesday, with USA crude settling 3 percent lower after government data showed a surprise weekly increase in domestic crude stockpiles, compounding worries about the global economic growth outlook.