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Markets

The Turkish currency's plunge began in May but has been in free fall since last Friday when it fell by some 16 per cent - it briefly lost 20 per cent that day to a record low after US President Donald Trump doubled tariffs on Turkish metal following Turkey's refusal to release an American pastor detained there for almost two years.
  • Fall of the Turkish Lira raises concerns for emerging markets

    Markets

    The president, who says a shadowy "interest rate lobby" and Western credit ratings agencies are attempting to bring down Turkey's economy, appealed to his countrymen's patriotism. The White House said Mr Trump had authorised them under a section of USA trade law that allows for tariffs on national security grounds. Relations between Turkey and the US have been tense over a range of issues, from the Syrian conflict to the imprisonment of American pastor Andrew Brunson.
  • McDonald's McGold Card Entitles Winner To Free Food For Life

    McDonald's McGold Card Entitles Winner To Free Food For Life

    Markets

    McDonald's says that this will be enough to eat two seven-dollar meals per week for the next 50 years, which is correct if you do the math. Every day you order at McDonald's from August 10 to 24, you are automatically entered in the sweepstakes to win free McDonald's for life .
  • Canada's job surge beats expectations, but there is a catch

    Canada's job surge beats expectations, but there is a catch

    Markets

    According to Statistics Canada, a total of 124,200 people reported they were employed in a part-time position, a drop from the 128,300 that reported being part-time workers in July. Meanwhile, the country lost 28,000 full-time jobs. But, it could be an indicator of whether the Bank of Canada will increase interest rates next month.
  • 'Suicidal Male' Steals Plane And Crashes After 'Unauthorized Takeoff' From Sea-Tac

    'Suicidal Male' Steals Plane And Crashes After 'Unauthorized Takeoff' From Sea-Tac

    Markets

    The Anchorage Daily News says Russell, who was a gregarious, well-liked student in high school, went on to play one season of football at Valley City State. A "suicidal" airline employee at Seattle's Sea-Tac International Airport stole an empty plane Friday night for a weird joyride, performing unsafe air maneuvers under close pursuit by F-15 fighter jets before crashing into an island.
  • Tesla CEO Musk accused in lawsuit of defrauding shareholders

    Tesla CEO Musk accused in lawsuit of defrauding shareholders

    Markets

    Tesla CEO Elon Musk used Twitter late Friday to taunt investors who have bet against his company, even though his previous Twitter comments have spurred a government investigation and shareholder lawsuits. Musk's tweet about taking Tesla private sent the stock soaring 11 percent Tuesday and cost short sellers roughly $1 billion, according to some estimates.
  • ‘Turkey-U.S. relations may be in jeopardy’

    ‘Turkey-U.S. relations may be in jeopardy’

    Markets

    Erdogan said that there were "various campaigns being carried out" against the country. He did not specify any countries. "It is wrong to dare bring Turkey to its knees through threats over a pastor", Erdogan said in the Black Sea town of Unye.
  • US Market Indexes Close With Losses on Friday

    US Market Indexes Close With Losses on Friday

    Markets

    The geopolitical turmoil in Turkey is certainly making waves across the global economies, particularly in the United States where the Dow Jones Industrial Average fell over 200 points today. Chip stocks fell after Morgan Stanley downgraded the US semiconductor industry, saying upside to estimates is hard to come by. The S&P financial index fell 1.4 percent, among the biggest drags on the S&P 500 .
  • Chinese state media says US tariff moves show mobster mentality

    Chinese state media says US tariff moves show mobster mentality

    Markets

    It's a new round of tit-for-tat tariffs in the U.S. Where will the trade war end? US Customs will begin collecting duties on 279 product lines ranging from motorcycles to steam turbines and railway cars, the US Trade Representative's Office said in an emailed statement on Tuesday.
  • Tesla shares fall 5 percent on Wall St scepticism, SEC probe reports

    Tesla shares fall 5 percent on Wall St scepticism, SEC probe reports

    Markets

    In a statement on Wednesday, six Board members said Elon Musk brought up the proposal to them on making Tesla private and how to achieve its long-term interests as a private company, Xinhua news agency reported. "And if you stay as a shareholder you get less information than before and you depend more and more on Elon Musk ". Tesla shares fell $17.89 to $352.45, or 4.8 per cent, valuing the company at $60.1 billion.
  • Alaska Airlines worker steals plane from Seattle airport, crashes nearby

    Alaska Airlines worker steals plane from Seattle airport, crashes nearby

    Markets

    Gary Beck , CEO of Horizon Air , said it wasn't clear how the man knew to start the engine, which requires a series of switches and levers. On behalf of the family, we are stunned and heartbroken. Two military F-15s were scrambled to pursue the plane, but were not involved in the crash. Video taken by a bystander showed the airplane making a loop, then flying low over a body of water.
  • Turkey shaken by financial fears, Trump rattles it further

    Turkey shaken by financial fears, Trump rattles it further

    Markets

    Mr Brunson denies the charge. A delegation of Turkish officials held discussions with their counterparts in Washington this week but there was no sign of a breakthrough. Turkish President Recep Tayyip Erdogan spoke before the nation twice on August 10, but the country's currency continued its descent, reaching about 6.4 lire per dollar, a decline of about 14.6 percent.
  • 'Suicidal' mechanic steals plane from Seattle airport and crashes

    'Suicidal' mechanic steals plane from Seattle airport and crashes

    Markets

    The plane thief "is confirmed a suicidal male", Troyer wrote. "The central government in Kabul said the situation in Ghazni was under their control, but we managed to contact officials in Ghazni who said that fighting was underway in areas surrounding Ghazni", said the parliamentarian.
  • Jury awards $289 million to man who said Roundup gave him cancer

    Jury awards $289 million to man who said Roundup gave him cancer

    Markets

    Following eight weeks of trial proceedings , the San Francisco jury ordered Monsanto to pay US$250 million in punitive damages along with compensatory damages and other costs, bringing the total figure to almost US$290 million. "This should send a strong message to the boardroom of Monsanto". Johnson said he hoped his verdict would bolster the other cases. Johnson's lawyers sought and won 39 million dollars (£30 million) in compensatory damages and 250 million dollars (£196 million) ...
  • First Bitcoin (BIT) Market Cap Hits $0.00

    First Bitcoin (BIT) Market Cap Hits $0.00

    Markets

    A few days ago, cryptocurrencies saw the first dip before the SEC announcement, which took place after the Intercontinental Exchange (ICE) deal was revealed. Ethereum Classic is becoming a trending cryptocurrency after Coinbase launched ETC trading on Coinbase PRIME and PRO platforms recently. This Wednesday, BCH has an overall market capitalization of around $10.5B and 24-hour trade volume is about $443M.