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Turkey's currency, which had recovered from record losses against the dollar earlier in the week, was down about 6 percent against the dollar on Friday, at 6.17. A court refused to release Mr Brunson, and the the government in Ankara increased tariffs on imports from the U.S. of cars, alcoholic drinks and leaf tobacco - and the lira recovered slightly.
  • Oil falls as concern grows over Chinese refinery demand

    Oil falls as concern grows over Chinese refinery demand

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    Markets also anticipated an announcement from Washington later on Monday on renewed US sanctions against major oil exporter Iran. The move came in response to the Trump administration's plan to slap the same tariff on an equal amount of Chinese imports in the coming weeks.
  • Tesla board evaluating CEO's bid to take company private

    Tesla board evaluating CEO's bid to take company private

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    Making money has proven elusive for Tesla while it has been investing in electric auto technology and ramping up production of its vehicles, including a sedan with a starting price of $35,000 to appeal to a broader audience. The transaction would amount to the largest leveraged buyout - in which a company borrows money to repurchase shares and exit the public market - of all time.
  • China ready for 'protracted' trade war with US

    China ready for 'protracted' trade war with US

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    The White House has imposed a 25 percent tariff on $50 billion worth of Chinese goods containing "industrially significant technologies" in an escalating, tit-for-tat conflict between the world's two largest economies . The Chinese side seem to be seeking to match that ratio with the new proposals. There is no evidence that the Chinese government is financing an advertising campaign in the United States to convince USA politicians that Trump's approach is wrong.
  • Oil trades near $68 as inventory, Opec outputs weigh on market

    Oil trades near $68 as inventory, Opec outputs weigh on market

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    Saudi Arabia's output rose by 230,000 barrels a day in July to 10.65 million barrels per day. Brent crude , the global benchmark, shed 2.2 per cent to $72. Oil last month posted the worst loss in two years on concern a trade war between the United States and China could curb economic growth and limit energy demand.
  • U.S. job creation slows as employers scrounge for labor

    U.S. job creation slows as employers scrounge for labor

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    U.S. job growth slowed more than expected in July, as companies appeared to struggle to find qualified workers and the unemployment rate declined, pointing to tightening labour market conditions. The unemployment rate ticked down for both groups last month. Another month of sluggish wage gains could help cool fears the economy could be overheating but are unlikely to dissuade the Federal Reserve from raising interest rates next month for the third time this year.
  • China warns of tariffs on imported U.S. goods worth $60bn

    China warns of tariffs on imported U.S. goods worth $60bn

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    Calling the Chinese economy weak from the lawn of the White House in an interview with Bloomberg TV, Kudlow said: "The president has said time and again, that targeted tariffs are going to be part of the gameplan with China - unless, and until, they begin to meet our requests, and so far they have not".
  • Missouri’s tax-free weekend expected to draw big crowds

    Missouri’s tax-free weekend expected to draw big crowds

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    Florida shoppers will have the opportunity to not pay normal sales tax on items like school supplies , clothing and accessories. Virginia and SC will hold theirs starting at 12:01 a.m. Looking to start your back-to-school shopping? Some states, New Mexico included, have more than one each year. "Our Back-to-School Sales Tax Holiday is another way we are providing relief to Wisconsin's hardworking families", said Governor Walker.
  • Apple becomes world’s first private sector company worth $1 trillion

    Apple becomes world’s first private sector company worth $1 trillion

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    Apple on Thursday became the first private-sector company in history to be worth $1 trillion, after its share price reached an all-time high above $207. Jim Cramer, for example, recently argued that Apple shares could start approaching $300. Apple's stock has risen more than 50,000% since it first listed in 1980.
  • Tesla CEO Elon Musk's $5 Billion Apology Tour

    Tesla CEO Elon Musk's $5 Billion Apology Tour

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    The company has yet to turn a profit but this quarter's loss is more than twice as high as in the second quarter a year ago. Tesla ended the second quarter with $2.78 billion in cash after spending $610 million in capital expenses. Tesla CEO Elon Musk stated on Twitter that the company will add a number of classic Atari games to the software in its electric cars. After Tesla produced 5,000 per week in July following several delays in reaching that target, analysts were concerned whether it ...
  • USA touts European Union trade truce, attention now turns to China

    USA touts European Union trade truce, attention now turns to China

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    Not only is the European Union negotiating zero tariffs, but also it agreed to immediately buy more American soybeans - which helps Trump in his trade battle with China. Fourth, we will join forces with like-minded partners and address unfair trade practices. Aaron Putze, the communications director for the Iowa Soybean Association, said the development with the European Union underscores the administration's commitment to making progress on matters of trade, but added, "We remain ...