• Trump takes aim at quarterly reports
Trump takes aim at quarterly reports

U.S. President Donald Trump has asked the U.S. Securities and Exchange Commission ( SEC ) to study the feasibility of ending quarterly reporting for U.S. "My comments were made in that broader context, and included a suggestion to explore the harmonisation of the European system and the U.S. system of financial reporting".

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  • Turkish lira trades below 6.0 against the dollar
Turkish lira trades below 6.0 against the dollar

Erdogan has said Turkey is the target of an economic war, and has made repeated calls for Turks to sell their dollars and euros to shore up the currency. "He's a very innocent man", President Trump remarked at a Cabinet meeting Thursday. Turkey has since imposed retaliatory tariffs on the U.S. US stocks climbed higher in afternoon trading after...

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  • Saudi Arabia And Iran Reignite The Oil Price War
Saudi Arabia And Iran Reignite The Oil Price War

Analysts surveyed Monday by S&P Global Platts were looking for U.S. crude stocks to have fallen 1.7 million barrels in the week ended August 10, with refinery runs remaining high on healthy margins and strong export demand. For 2019, non-OPEC supply is expected to rise by 2.13 million barrels a day to an average of 61.75 million, an increase of 3...

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  • Saudi Arabia might be interested in helping Tesla go private
Saudi Arabia might be interested in helping Tesla go private

The tycoon said he left a meeting with wealth fund officials on July 31 with no question that the deal could be closed - which is why he tweeted on August 7 that funding had been "secured". Second, with $230 billion in assets and big ambitions , it is one of few entities that can actually finance Tesla going private, which might cost up to $72 b...

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  • Higher US tariffs increase pressure on Turkish economy
Higher US tariffs increase pressure on Turkish economy

Unilateral steps taken by the U.S. only harm its interests and security, Turkish President Recep Tayyip Erdogan said on Friday in an article he wrote for The New York Times . Trump's move sent Turkey's lira currency deeper into tailspin. According to figures from the Turkish Government , for the period of 2002 to October 2017, Turkish dir...

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  • China places tariffs on another $16B worth of USA goods
China places tariffs on another $16B worth of USA goods

The tariffs are aimed at industrial, rather than consumer, imports. The US is also considering further tariffs on another $200bn worth of Chinese goods which could come into effect in September. Beijing is expected to hit $16 billion worth of United States goods with equal tariffs in response to Tuesday's move. Schneider National Carriers Inc.

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  • Saudi Prince Alwaleed acquires 2.3% stake in Snapchat
Saudi Prince Alwaleed acquires 2.3% stake in Snapchat

However, there was positive news elsewhere in the results as parent company Snap Inc reported revenue of 262.2 million dollars (£202.6m), up 44% on this time previous year and above analyst expectations. "We believe the market has trained itself to approach each quarterly result with a heavy dose of caution as Snap remains a "show me" stock", Mone...

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  • Tesla board evaluating CEO Musk's idea to take company private
Tesla board evaluating CEO Musk's idea to take company private

Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long term. 'Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possi...

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  • Facebook shares soar as it improves banking relationships
Facebook shares soar as it improves banking relationships

Facebook still faces criticism after revelations that political data firm Cambridge Analytica harvested the personal data of as many as 87 million Facebook users without their consent. A critical part of these partnerships is keeping people's information safe and secure. The Journal report indicates that banks are hesitant to get on board i...

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  • Musk Says in Tweet He Is Considering Taking Tesla Private
Musk Says in Tweet He Is Considering Taking Tesla Private

The company did not immediately respond to request for comment. "Yes, might take Tesla private", he said. The company had a market value of $58bn as of Monday's close. When another person tweeted that going private "saves a lot of headaches", Musk replied, "Yes". The BBC has been unable to verify the post was written by Mr Musk himself, but it ...

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  • Apple’s Market Cap Hits $1 Trillion
Apple’s Market Cap Hits $1 Trillion

This is not the end, that they hit $1 trillion. "It's certainly a tremendous achievement to create a company with a $1 trillion market cap". On Tuesday, the company said Apple Services, which includes things like the App Store and Apple Music, saw a 31% jump in revenue.

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  • Facebook loses one million European users to GDPR
Facebook loses one million European users to GDPR

All told, the US$119 billion of its value that was wiped out is worth almost as much as McDonald's. He subsequently backtracked from this comment after it triggered widespread public outcry. $130 billion had been wiped off of Facebook's market cap as a result of the stock's plunge. Facebook missed quarterly revenue expectations for the firs...

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  • Trade War Between US and EU Averted (For Now)
Trade War Between US and EU Averted (For Now)

Trump promised the United States would not impose tariffs on the import of European cars, something the USA had threatened to do in retaliation to taxes imposed on certain American goods entering Europe following Trump's decision to levy extra taxes on imported aluminium and steel.

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  • Despite relief offer from Trump, Missouri farmers feel tariff crunch
Despite relief offer from Trump, Missouri farmers feel tariff crunch

Liu Weidong, a United States affairs expert from the Institute of American Studies at the Chinese Academy of Social Sciences, said that with just 20 days since the start of the tariffs it was too early to tell if they had been effective. In addition, the government will work to open new markets. A 20 percent drop in soybean prices since the tar...

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  • GOP decries Trump offer of $12B aid to offset tariffs
GOP decries Trump offer of $12B aid to offset tariffs

Other countries "don't want to have those tariffs put on them". But according to the U.S. Secretary of Agriculture Sonny Perdue , the White House doesn't anticipate any additional aid packages for other sectors, like the auto or retail sectors, affected by the trade disputes.

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  • European Union says China could open its economy if it wishes
European Union says China could open its economy if it wishes

On July 14, China's Ministry of Finance set up the "U.S. Research Think Tank Alliance" with research institutes around the country, totaling nearly 20 organizations, in an effort to figure out "how to respond to new circumstances and challenges that the U.S".

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  • Surprise weakness of inflation data stirs debate over interest-rate rise
Surprise weakness of inflation data stirs debate over interest-rate rise

An anticipated pickup in United Kingdom inflation failed to materialize last month, a development that sent the pound lower as investors pared bets for a Bank of England interest-rate increase next month. The rate of wage growth for United Kingdom workers has fallen to its lowest level in six months, in spite of record numbers of people being i...

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  • UK: May government in meltdown over Brexit
UK: May government in meltdown over Brexit

Shadow Scotland Secretary Lesley Laird said the fact that no Scottish Conservative MPs rebelled against the government meant "Ruth Davidson's pledge that her MPs would stand up for Scotland was nothing short of a lie". The British government wants to retain the ability to sign trade deals independently of the EU. The battle over the amendments to...

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  • ZTE lives on: US Commerce Dept. lifts ban
ZTE lives on: US Commerce Dept. lifts ban

The settlement ZTE reached with the U.S. Commerce Department included a US$1 billion penalty and a deposit of US$400 million in an escrow account. The Commerce Department said Friday that these measures were the "harshest penalties and strictest compliance measures ever imposed in such a case".

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  • Murdoch’s Fox raises bid for Sky to $32.5 billion
Murdoch’s Fox raises bid for Sky to $32.5 billion

Fox , which has been trying to buy the pan-European group since December 2016, offered to pay 1,400p per share, a 12 per cent premium to Comcast's earlier offer. Comcast now has a 60-day window before Sky shareholders can vote to approve the deal. "It is now a matter for the Sky shareholders to decide whether to accept 21CF's bid", Wright said.

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