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Economy

Sen. Dick Durbin, D-Illinois, said Cohen's claims are serious and troubling - but it's "premature" to discuss impeachment, because " more information has to come forward" and it's "too early in the process to be using these words". Trump's attorneys said Cohen is lying in order to get better treatment from prosecutors over his own illegal conduct. But he changed his story as prosecutors closed in.
  • Tourists find silver lining in Turkey's lira crash

    Tourists find silver lining in Turkey's lira crash

    Economy

    On Monday , the central bank announced a series of measures to "provide all the liquidity the banks need" - but offered no hint of a rate increase. The country's economic trouble has been heightened by a dispute with the US that has centered on the continued detention of an American pastor who is on trial for espionage and terror-related charges.
  • Musk: Saudis pushed for 2 years to take Tesla private

    Musk: Saudis pushed for 2 years to take Tesla private

    Economy

    Going back nearly two years, the Saudi Arabian sovereign wealth fund has approached me multiple times about taking Tesla private. The lawsuits filed by Isaacs and William Chamberlain said Musk's and Tesla's conduct artificially inflated Tesla's stock price and violated federal securities laws.
  • Trump Escalates Feud With Turkey, Imposing Higher Metals Tariffs

    Trump Escalates Feud With Turkey, Imposing Higher Metals Tariffs

    Economy

    The lira has been falling on worries about Erdogan's influence over monetary policy and worsening relations with the United States. The Turkish lira dropped as much as 18 per cent at one point after Mr Trump's announcement - the biggest one-day fall since a 2001 financial crisis in the country.
  • IEA says calm in oil markets could be short-lived

    IEA says calm in oil markets could be short-lived

    Economy

    President Donald Trump has threatened to impose tariffs on almost all Chinese imports to the US. Additionally, an executive from China's Dongming Petrochemical Group said at the time that he expected Beijing to soon impose the tariff on USA oil imports.
  • China ready with additional tariffs

    China ready with additional tariffs

    Economy

    China then retaliatedwith a threat on Friday to hit $US60 billion worth of United States exports to China, with tariffs ranging from 5% to 25%. The question is what other tools the two countries may use, once they have no more goods upon which to impose tariffs.
  • Nate Diaz angrily reacts to Khabib Nurmagomedov-Conor McGregor announcement

    Nate Diaz angrily reacts to Khabib Nurmagomedov-Conor McGregor announcement

    Economy

    Nurmagomedov had won the lightweight title UFC 223 in April. McGregor will avoid jail time and instead serve five days of community service and attent anger management classes. The undefeated Russian fighter challenged McGregor for a fight after the incident, which White had labeled "the most disgusting thing ever happened in UFC history".
  • Oil up; traders cite industry report of crude build at Cushing

    Oil up; traders cite industry report of crude build at Cushing

    Economy

    Brent crude futures LCOc1 were up 32 cents at $72.71 a barrel by 10:37 a.m. EDT (1437 GMT), while USA crude CLc1 futures rose 60 cents to $68.26 a barrel. WTI is heading for a roughly flat week after four weekly falls, while Brent is on track to post a fourth week of declines in five, set for a drop of 1.4 percent.
  • China threatens tariffs on $60 billion in USA goods

    China threatens tariffs on $60 billion in USA goods

    Economy

    The move is a response to the Trump administration's recent threat to raise the proposed tariff rate on an additional $200 billion worth of Chinese goods to 25% from 10%. " Any unilateral threat or blackmail will only lead to intensification of conflicts and damage to the interests of all parties ". Trump has threatened to slap tariffs on virtually all of China's exports to the United States in the tit-for-tat trade conflict.
  • Tax-Free Weekend Approaching For Back-To-School Shoppers

    Tax-Free Weekend Approaching For Back-To-School Shoppers

    Economy

    For school supplies , each supply item must be $75 or less. While there are many items available for purchase, there are restrictions on certain items in order for them to be exempt from the sales tax. "The body had spoken", she said. "Also, there is a perception that it is only a holiday for children and their families going back to school", he wrote , "when in reality this is for students (and families) of all ages".
  • Apple is the first U.S. company worth $1 trillion

    Apple is the first U.S. company worth $1 trillion

    Economy

    The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-per-cent increase during the same nearly four decades. Apple's stock has risen more than 50,000% since it first listed in 1980. Also propelling Apple higher in recent months was Apple's announcement that it earmarked US$100 billion for a new share repurchase programme.
  • Elon Musk says sorry, starts acting like a real CEO

    Elon Musk says sorry, starts acting like a real CEO

    Economy

    This quarter, not only was Musk's tone non-confrontational, but he apologized to both analysts. Musk also tweeted that developer applications must show prior work and that he's looking for games with "max playability & creativity". Adjusted for stock-based compensation, the company lost $US3.06 per share. Tesla projected total 2018 capital spending at just below $US2.5 billion. That's substantially less than the 2017 level of $3.4 billion.
  • Tech firms prepare for share plunges as Facebook loses $128 billion

    Tech firms prepare for share plunges as Facebook loses $128 billion

    Economy

    But the Silicon Valley company's streak ended Wednesday when it said that the accumulation of issues was starting to hurt its multibillion-dollar business and that the costs are set to continue playing out for months. That $120 billion plunge is the biggest-ever one-day loss in dollar value for a USA company. Patsky said his company's next ask of Facebook and its board is just that - a separation of chair and CEO.
  • Nebraska senators react to $12B plan to assist farmers affected by tariffs

    Nebraska senators react to $12B plan to assist farmers affected by tariffs

    Economy

    The leaders agreed to "launch a new phase" in the relationship and "to work together towards zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods", Trump said. "We are price takers they say and not price makers, so here we are in that situation", Lucas Heinen, President of the Kansas Soybean Association said.
  • RIP: Former Fiat Chrysler CEO Sergio Marchionne passes away

    RIP: Former Fiat Chrysler CEO Sergio Marchionne passes away

    Economy

    After attending St Michael's College school, he earned a degree in philosophy from the University of Toronto in 1978, then a degree in commerce (1979) and an MBA (1985) from the University of Windsor. At fia.com, FIA President Jean Todt , who led the Scuderia Ferrari Formula 1 team from 1994 to 2007, said "Sergio achieved a colossal amount for the automotive industry and motor sport worldwide".
  • Facebook stock dives almost 20% on warning of slow revenue growth

    Facebook stock dives almost 20% on warning of slow revenue growth

    Economy

    It would also wipe his $13.7 billion of gains for the year, leaving him with just less than $70 billion. The Menlo Park, Calif. -based company reported second-quarter earnings that bested analyst estimates, but the results fell short of projections for revenue and daily active users.
  • Trump suggests no tariffs between US, Europe

    Trump suggests no tariffs between US, Europe

    Economy

    The U.S. Department of Agriculture is trying to ease some of farmers' pain during the trade war. European Commission President Jean-Claude Juncker and European Trade Commissioner Cecilia Malmstrom will signal the EU's willingness to negotiate a bilateral trade agreement on manufactured goods, or a so-called plurilateral sectoral agreement between all major auto exporters which would cut or eliminate tariffs on automobiles globally.
  • Alphabet shrugs off EU's record €4.3bn fine

    Alphabet shrugs off EU's record €4.3bn fine

    Economy

    Thus Alphabet shares have been up as much as 5 per cent in afterhours trading. Google said little about the fine, which regulators said is for anticompetitive behavior with its Android mobile operating system, in its earnings release. Alphabet reported revenues of $32.7 billion, up 26 per cent versus the second quarter of 2017. Europe's new data-privacy rule, known as the General Data Protection Regulation , also appeared to have had little effect on Google's bottom line.
  • 'Tariffs are the greatest!': Trump reissues threat against U.S. trading partners

    'Tariffs are the greatest!': Trump reissues threat against U.S. trading partners

    Economy

    Trump said separately during a speech in Kansas City that "farmers will be the biggest beneficiary" of his trade agenda as he seeks better trade agreements. Details about the bailout plan are scanty at this point, though the Post indicates it will include "direct assistance, a food purchase and distribution program, and a trade promotion program".