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A Turkish court rejected an appeal on Tuesday for an American pastor to be released from house arrest during his trial on terrorism charges, his lawyer said , in a case which has raised the threat of US sanctions against Ankara. Turkey issued a written statement to "protest" the new sanctions. The Turkish lira , which has been in decline against the dollar for most of 2018, fell to a record low of five per dollar on Wednesday after dropping 1.7 percent of its value following the sanctions' ...
  • 50 years on, McDonald's and fast food evolve around Big Mac

    50 years on, McDonald's and fast food evolve around Big Mac

    Markets

    In its 50 years, the legendary taste of the Big Mac has helped it achieve universal recognition and a lasting legacy. To celebrate the birth of one of the world's most popular burgers, McDonalds is launching its own cryptocurrency. McDonald's decided it would be fitting to honor him with the MacCoin, which is actually an idea based upon the Big Mac index . His great-grandson Nick Delligatti said: 'When my great-grandfather Jim Delligatti invented the Big Mac at his grill in Uniontown, ...
  • Mnuchin insists agriculture was part of US-EU trade talks

    Mnuchin insists agriculture was part of US-EU trade talks

    Markets

    But it's not likely that the European Union is going to be able to make up for the drop in Chinese imports - according to the USDA , in 2016-2017, China imported some 93.5 million tons of soybeans. It expects that 700,000 jobs would be lost. Chicago-traded soybean futures plunged 20 percent between late May and mid-July in the lead-up to China's 25 percent tariff against USA beans that took effect July 6.
  • Zuckerberg Loses More Than $15bn in Record Facebook Fall

    Zuckerberg Loses More Than $15bn in Record Facebook Fall

    Markets

    Mr Zuckerberg had been tied with Mr Warren Buffett as the world's fourth-richest person, but the Berkshire Hathaway Inc chairman's current US$83 billion fortune tops Mr Zuckerberg's US$66 billion, Forbes magazine said. The S&P 500 technology index fell 2.0 per cent, the most among the major S&P sectors. According to Bloomberg , Zuckerberg's fortune tumbled in late trading Wednesday, as shares of the social media giant slid 20% in post-market trading in NY on disappointing results.
  • China being 'vicious' on trade - US President

    China being 'vicious' on trade - US President

    Markets

    Trump said the two agreed "to work toward zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods". United States import tariffs of 25% on steel and 10% on aluminum imposed in March will remain in place during the talks, but Juncker added: 'It is the first time that the Americans agreed to reassess the measure that they have taken in the steel and aluminum sector'.
  • Japan's Oldest Person Dies At 117

    Japan's Oldest Person Dies At 117

    Markets

    She was 117 years and 81 days old when she died, according to Guinness . She also had a lifelong passion for calligraphy and created calligraphic pieces of art from childhood up until her death. Guinness has three longevity categories in its record books: the oldest person living (male), oldest person living (female ) and oldest person living .
  • Trump 'open' to Moscow visit after Putin extends invite

    Trump 'open' to Moscow visit after Putin extends invite

    Markets

    The heads of the BRICS group met in Johannesburg for an annual summit dominated by the risk of a US-led trade war, although leaders did not publicly mention Trump by name. The White House also said that Trump does not support Putin's proposal to allow Russia to interview American officials in exchange for access to indicted Russians - an offer Trump initially called "incredible".
  • Facebook plunge to hit Nasdaq, offset US-EU trade deal

    Facebook plunge to hit Nasdaq, offset US-EU trade deal

    Markets

    OIL: Benchmark U.S. crude rose 31 cents to $69.61 per barrel in NY. At the same time, traders have been wary of global trade tensions, which have ratcheted up in recent weeks as the US and some of its trading partners imposed tariffs and threatened more.
  • USA economy records fastest growth since 2014

    USA economy records fastest growth since 2014

    Markets

    The Commerce Department said the gross domestic product - the total output of goods and services produced in the United States - posted its best showing since a 4.9 percent annual increase in the third quarter of 2014. Mr Trump was responding to new growth numbers announced today that show the USA economy surged in the April-June quarter to an annual growth rate of 4.1 percent - the fastest pace since 2014.
  • Trump Secures Concessions from European Union to Avoid Trade War

    Trump Secures Concessions from European Union to Avoid Trade War

    Markets

    Many farmers are critical of President Donald Trump's tariffs and the damage done to commodity prices and markets, but say they are appreciative that he has offered to provide cash to help make up their losses. It's as simple as that'. "They're all coming. They don't want to have those tariffs put on them", Trump told the Veterans of Foreign Wars national convention.
  • Over $109bn wiped off Facebook's market cap after growth shock

    Over $109bn wiped off Facebook's market cap after growth shock

    Markets

    Investors could be waiting to see if the stock has bottomed or if more bombshells, such as the proposal to remove Zuckerberg as chairman , are still unexploded. " Facebook is actively choosing to make less money, deprioritizing near-term monetization to drive engagement to even higher levels to capture even more of their 2.5 billion monthly users' time and attention", he wrote.
  • Twitter plummets 18% after reporting a decline in monthly active users

    Twitter plummets 18% after reporting a decline in monthly active users

    Markets

    But the markets were jittery ahead of Friday's report after rival Facebook spooked investors by warning of slowing sales growth in the second half of the year as it focuses on " putting privacy first ". As part of these efforts, Twitter said that as of May, its systems had identified and challenged more than nine million accounts per week that were potentially spam or automated, up from 6.4 million in December 2017.
  • Bitcoin drops as U.S. regulators reject Winklevoss ETF plan

    Bitcoin drops as U.S. regulators reject Winklevoss ETF plan

    Markets

    The points which were considered for BXZ ETF includes whether the exchange can "prevent fraudulent and manipulative acts and practices" and "to protect investors and the public interest". In the past, the SEC disapproved another application made by the twins known as 'Winklevoss Bitcoin Trust.' Later in June, the group chose to submit a rule change.
  • USA economic growth surges by 4.1 cent

    USA economic growth surges by 4.1 cent

    Markets

    The Commerce Department reported that the gross domestic product (GDP), the country's total output of goods and services, posted its best showing since a 4.9 per cent gain in the third quarter of 2014. Veselnitskaya had said she was offering information about rival Hillary Clinton from the Russian government aimed at helping Trump to victory.
  • Vladimir Putin invites Donald Trump to Russian Federation

    Markets

    Fox News host Bret Baier announced that his network stands with competitor CNN in opposing the decision of President Donald Trump's administration to exclude CNN White House correspondent Kaitlan Collins from the press pool. Putin appeared to dominate Trump during the summit in Helsinki, and the U.S. president faced a storm of criticism at home for his handling of the meeting.