Elon Musk retracts privatisation, Tesla to remain public

Several investors have also sued Tesla, alleging that Musk's announcement was meant to manipulate the price of the company's stock. In an August 13 statement , Musk said that he left a July 31 meeting with the managing director of Saudi Arabia'... More..

by | Published more than a month ago
Trump's new trade deal with Mexico doesn't include Canada
by | Monday, August 27, 2018

Trump's new trade deal with Mexico doesn't include Canada

Trump responded by saying that he would call Canadian Prime Minister Justin Trudeau soon, and that the US would be open to including its northern neighbor in the new deal if it "wants to negotiate fairly"....More..

Indictments? Impeachment? A look at Donald Trump's legal woes
by | Friday, August 24, 2018

Indictments? Impeachment? A look at Donald Trump's legal woes

On Tuesday evening, former Trump campaign manager Paul Manafort was found guilty of tax and bank fraud charges while his former personal lawyer Michael Cohen admitted paying off former porn star Stormy Dan...More..

Australian PM Turnbull refuses to step down as 13 ministers quit
by | Friday, August 24, 2018

Australian PM Turnbull refuses to step down as 13 ministers quit

Mr Turnbull won the party-room vote 48-35 but the narrow margin of the victory made another challenge nearly certain in a country that has earned a reputation for a revolving door of political leaders, with six...More..

Elon Musk work ethic: 120 hour workweeks and sleeping on factory floor
by | Monday, August 20, 2018

Elon Musk work ethic: 120 hour workweeks and sleeping on factory floor

Musk made the claim in a brutally honest New York Times interview , in which he opened up about the 120-hour weeks he puts in at Tesla , which are taking a toll on his mental and physical well-being. Musk said...More..

Trump to SEC: Consider ending quarterly reports
by | Sunday, August 19, 2018

Trump to SEC: Consider ending quarterly reports

Trump said he called on the SEC to consider the change after talking with various business leaders. For companies, "That would allow greater flexibility & save money", Trump tweeted. And corporate leaders ...More..

by | Friday, August 17, 2018

White House says Turkish sanctions 'regrettable'

Following the announcement, the lira firmed briefly to 5.8699 from 6.04 to the US dollar, but later eased back to 6.0200 at 1538 GMT. A Turkish court has rejected an appeal to release Andrew Brunson , a US...More..

United States says ready with more sanctions if Turkey does not free pastor
by | Friday, August 17, 2018

United States says ready with more sanctions if Turkey does not free pastor

Chamber has warned that alienating our allies in a tit-for-tat trade war would harm the U.S. economy and undermine American global leadership, and evidence of that harm to U.S. Brunson was arrested in October...More..

United States threatens more sanctions on Turkey if Brunson not released
by | Thursday, August 16, 2018

United States threatens more sanctions on Turkey if Brunson not released

Ozgur Unluhisarcikli, director of the German Marshall Fund's Ankara office, noted that Turkey buys just 0.5 per cent of all USA exports and most of that is civilian aircraft and weapons. Turkey's economic c...More..

Crude oil futures rise 0.51% on global cues
by | Wednesday, August 15, 2018

Crude oil futures rise 0.51% on global cues

OPEC also lowered the forecast of world oil demand growth in 2018 by 20,000 barrels per day - to 1.64 million barrels per day. Crude oil prices are now slightly lower. World trade volume growth peaked in Ja...More..

Qatar's emir travels to crisis-hit Turkey in show of support
by | Wednesday, August 15, 2018

Qatar's emir travels to crisis-hit Turkey in show of support

The lira has fallen more than 40 per cent against the U.S. dollar this year, while Ankara's relationship with Washington has soured. Turkey's President Recep Tayyip Erdogan said Turkey would boycott U...More..

Turkey doubles tariffs on some USA imports; Turkish lira rallies
by | Wednesday, August 15, 2018

Turkey doubles tariffs on some USA imports; Turkish lira rallies

The currency strengthened to around 6.20 lira against the dollar on Wednesday after the government took steps to shore up the currency by reducing the daily limit in bank foreign currency swap transactions and ...More..

Rupee hits record low, mild RBI intervention seen
by | Tuesday, August 14, 2018

Rupee hits record low, mild RBI intervention seen

Kapil Sibal, former HRD minister, "congratulated" the prime minister for doing what the Congress could not for 60 years with regard to the rupee value. Yesterday, the rupee had plunged by Rs 1.08, or 1.57 per c...More..

Erdogan Wants Boycott of US Electronics
by | Tuesday, August 14, 2018

Erdogan Wants Boycott of US Electronics

Shares in Vestel zoomed up seven percent on the Istanbul stock exchange after Erdogan's remarks. "We will boycott USA electronic products", Erdogan said. "With God's permission we will overcome this", Erdog...More..

Elon Musk Reportedly Still Looking For Funding To Take Tesla Private
by | Tuesday, August 14, 2018

Elon Musk Reportedly Still Looking For Funding To Take Tesla Private

Two investors filed suit against Tesla CEO Elon Musk and the electric auto company after he tweeted he wanted to take the firm private, causing the share price to inflate and short-selling investors to lo...More..

Musk: Saudis pushed for 2 years to take Tesla private
by | Monday, August 13, 2018

Musk: Saudis pushed for 2 years to take Tesla private

However, Reuters reports that PIF has shown no interest so far in financing Musk's proposed $72 billion deal to take the U.S. electric auto maker private. "This is why I referred to "funding secured" in the A...More..

U.S. tariffs hike adds to Turkey's economic problems
by | Saturday, August 11, 2018

U.S. tariffs hike adds to Turkey's economic problems

The Turkish lira plunged on Friday, raising questions about the country's financial stability, as investors anxious about the president's unorthodox economic policies and a dispute with the United States that...More..

U.S. crude stockpiles fall less than expected
by | Friday, August 10, 2018

U.S. crude stockpiles fall less than expected

Trade Representative's office released a finalized list of $16 billion worth in Chinese goods that will be hit with tariffs, effective August 23. On top of that, Iranian President Hassan Rouhani has threa...More..

Trump says tariffs working far better than anticipated
by | Wednesday, August 08, 2018

Trump says tariffs working far better than anticipated

It said retaliatory duties of between 5 and 25 percent will be imposed on 5,207 products "if the US side persists in putting its tariff measures into effect". Warning that China had "better take President ( D...More..

Oil prices rally on expectation that inventories will drop
by | Monday, August 06, 2018

Oil prices rally on expectation that inventories will drop

According to the Weekly Petroleum Status Report , U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.8 million barrels last week. It produced abou...More..

US Economy Adds 157K Jobs In July, Unemployment Rate Drops To 3.9%
by | Sunday, August 05, 2018

US Economy Adds 157K Jobs In July, Unemployment Rate Drops To 3.9%

July marked a solid month for the USA labor market according to the US Department of Commerce's Employment Report released this morning. The economy expanded at a 4.1 per cent annual rate in the April-June qu...More..

White House says Trump's resolve is firm on China trade
by | Friday, August 03, 2018

White House says Trump's resolve is firm on China trade

The Chinese finance ministry said 5,207 goods imported from the U.S. could be subjected to the fresh tariffs , with levies ranging from 5% to 25% on products including aircraft, soya bean oil, smoked beef, cof...More..

Sales tax holiday this weekend in Virginia
by | Friday, August 03, 2018

Sales tax holiday this weekend in Virginia

While the first day of school might be about a month away, you can get a head start on some of that back to school shopping thanks to the yearly tax-free weekend. The restriction includes accessories like mouth...More..

Trump says he would meet Iran's leader without preconditions
by | Thursday, August 02, 2018

Trump says he would meet Iran's leader without preconditions

Any time they want. 'There's nothing wrong with meeting '. In May, Trump pulled the United States out of the multilateral deal concluded before he took office, denouncing it as one-sided in Iran's favor. H...More..

Apple’s Market Cap Hits $1 Trillion
by | Thursday, August 02, 2018

Apple’s Market Cap Hits $1 Trillion

The tech company, launched in 1976 in a Los Altos garage, revolutionized personal computing - popularizing experimental technologies developed in the Xerox Parc research labs, such as the mouse and graphical us...More..