• At midday: S&P 500, Nasdaq hit record highs on Powell comments
At midday: S&P 500, Nasdaq hit record highs on Powell comments

If the strong growth in income and jobs continues, further gradual increases in the target range for the federal funds rate will likely be appropriate". - The soft price action around Fed Chair Powell's speech is another sign that the US Dollar is likely topping out in the short-term. Bank of Canada (BoC) Governor Stephen Poloz will speak on Sa...

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  • Verizon Promises To Stop Throttling First Responders 08/27/2018
Verizon Promises To Stop Throttling First Responders 08/27/2018

Unlike that plan, the new unlimited plan being developed by Verizon for first-responders will not restrict speeds "on mobile solutions" no matter how much data is used and "automatically includes priority access". Verizon will also work closely with mission critical first responders to refine its service plan to better meet unique needs, it said....

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  • Google Pixel 3 XL shown off in new hands on pics
Google Pixel 3 XL shown off in new hands on pics

The gadgets have mostly ridden on the quality of their camera, Google's exclusive branding, and stock Android . If that isn't enough, how about a confirmation that the Pixel 3 XL is going to support wireless charging? The feature that first made it on the HTC U11 gives users a unique way to interact with their devices.

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  • Sears at Glenbrook Square among the latest 46 targeted for closure
Sears at Glenbrook Square among the latest 46 targeted for closure

Thirty-three Sears stores and 13 Kmart locations will be shut down by November, with liquidation sales beginning as early as August 30 at all affected stores. A small group of stores were initially pulled from the May list for further evaluation. The company declined to say how long that lease would be at the time, however it did note it should h...

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  • United Kingdom calls on European Union to aim sanctions at Moscow - USA
United Kingdom calls on European Union to aim sanctions at Moscow - USA

State Department said Washington would impose new sanctions on Russia around August 22 over the alleged poison attack on ex-Russian spy, Sergei Skripal, and his daughter Yulia in the British city of Salisbury in March. Without the American measures, Moscow's behaviour would be further "off the charts", Mitchell said. Putin also said Europe need...

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  • China trade war escalates
China trade war escalates

Earlier, a senior Trump administration official downplayed chances for success, saying China had yet to address USA complaints about alleged misappropriation of US intellectual property and industrial subsidies. The dispute centres around Mr Trump's demand for Beijing to drop its protectionist economic stance and buy more U.S. goods. That fig...

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  • Actions better than words, says Russian Federation after Trump offer
Actions better than words, says Russian Federation after Trump offer

President Trump on Monday said he would consider lifting sanctions on Russian Federation if Moscow were to take steps towards working with the USA on issues like Russian Federation and Ukraine. The U.S. expelled 60 Russians from diplomatic missions in the U.S. and shuttered the Seattle consulate over it. This missile, one of many doomsday devic...

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  • 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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