Money


The pound falls amidst The pound falls amidst "no deal" Brexit projections
- August 13, 2018

Should the pound experience similar losses today, this could see the pound USA dollar exchange rate on track to touch a fresh one-year low by the end of the trading session. While Sterling continues its downward trajectory the Euro remains relatively stable, having been spared any fluctuations by a stall in new Eurozone data and a lack of compelling political developments. (more...)
Saudi Arabia's PIF Has Shown No Interest In Bankrolling Tesla Buyout Saudi Arabia's PIF Has Shown No Interest In Bankrolling Tesla Buyout
- August 13, 2018

Saudi Arabia's sovereign wealth fund is in talks that could see it becoming a significant investor in Tesla as part of Musk's plan to take the company private , people with knowledge of the fund's plans said earlier Sunday. Musk is interested in having a wide pool of investors rather than few stakeholders. This is at odds with a Reuters report , published Saturday, which cited two anonymous sources claiming that PIF has no interest in financing Tesla's bid to go private. (more...)
Tesla auto chief returns to Apple 'to work on secret vehicle project' Tesla auto chief returns to Apple 'to work on secret vehicle project'
- August 13, 2018

Now, according to Apple expert John Gruber and his Daring Fireball blog , he's back working with former colleague Bob Mansfield. Field worked at Apple as VP of Product Design and VP of Mac hardware from 2008 to 2013 before moving to Tesla. (more...)
Mexico says NAFTA talks with US to drag into next week Mexico says NAFTA talks with US to drag into next week
- August 13, 2018

The NAFTA is a deal signed by the US, Canada and Mexico , creating a trilateral trade bloc in North America. The negotiations stalled due to Trump's favour for a sunset clause in U.S. United States and Mexican officials have said they aim to conclude discussions this month and it is the third straight week ministers have traveled to Washington for meetings. (more...)
McDonald's offering chance to win McGold Card, free food for life McDonald's offering chance to win McGold Card, free food for life
- August 13, 2018

To enter, simply place an order for six dozen McDonald's fried apple pies (or whatever you consider lunch) through the McDonald's app, pay with your now second-favorite credit card, and pick up your food under the Golden Arches. Rob Frankel, a Los Angeles-based branding strategy expert, tells CNBC that he's not impressed. "I don't think it's going to do anything to encourage the app usage". (more...)
Family of man who stole and crashed plane 'shocked and devastated' Family of man who stole and crashed plane 'shocked and devastated'
- August 12, 2018

According to the statement , family members said they were devasted by the events and that "Jesus is truly the only one holding this family together right now". The Seattle airport baggage handler who managed to fly away in a commercial plane before crashing to Earth as a stunned world watched has been identified. (more...)
Lawsuits accuse Tesla's Musk of fraud over tweets, going-private proposal Lawsuits accuse Tesla's Musk of fraud over tweets, going-private proposal
- August 12, 2018

The remark set off a frenzy of trading in Tesla shares, even as investors were struggling to discern whether the tweet was legitimate and what precisely it meant. Chamberlain said Musk and Tesla "artificially drove the price of Tesla shares up as much as $45.47 from their August 6, 2018 closing price ($341.99)". (more...)
Higher US tariffs increase pressure on Turkish economy Higher US tariffs increase pressure on Turkish economy
- August 12, 2018

The lira has always been falling on worries about Mr Erdogan's influence over monetary policy and worsening relations with the United States. Turkey's currency crisis spilled loudly on to the global stage Friday as other markets, including United States stocks, took at hit from concern about financial contagion to other countries and banks. (more...)
House of Fraser stores taken over by Sports Direct House of Fraser stores taken over by Sports Direct
- August 12, 2018

Prior to the administration Sports Direct had owned 11 percent of House of Fraser . We will await further news over the coming weeks and months to see how the sale of House of Fraser to Mike Ashley will specifically impact upon the Royal Leamington Spa store. (more...)
TSX, Wall Street end lower as Turkey woes hit banks TSX, Wall Street end lower as Turkey woes hit banks
- August 12, 2018

The Russell 2000 is up 17.52 points, or 1 per cent. The geopolitical turmoil in Turkey is certainly making waves across the global economies, particularly in the United States where the Dow Jones Industrial Average fell over 200 points today. (more...)
Family of airline worker who crashed stolen plane 'shocked' Family of airline worker who crashed stolen plane 'shocked'
- August 12, 2018

Video taken by a bystander showed the 76-seat plane making a big, slow loop-the-loop as F-15 fighter jets gave chase, then flying low over Puget Sound before crashing into Ketron Island , a sparsely-populated area in the northwestern USA state of Washington. (more...)
Tesla plunges, wiping out tweet-fueled rally in just two days Tesla plunges, wiping out tweet-fueled rally in just two days
- August 12, 2018

But Musk probably doesn't need that much financing because he owns a roughly 20 percent stake in the company and he is also creating a special fund that will allow existing shareholders to retain their stakes in Tesla in the private market, if they want. (more...)
Authorities don't believe man who stole plane had a pilot's license Authorities don't believe man who stole plane had a pilot's license
- August 12, 2018

Pacific time , officials said. An airline employee's unauthorized takeoff from Seattle-Tacoma International Airport before dying in a crash will likely prompt a major review of already tightly controlled industry security measures, experts said Saturday. (more...)
Monsanto is found guilty in Roundup trial Monsanto is found guilty in Roundup trial
- August 11, 2018

Johnson used Roundup and a similar product, Ranger Pro, as a pest control manager at a San Francisco Bay Area school district, his lawyers said . "I want to thank everybody on the jury from the bottom of my heart", Johnson, 46, said during a press conference after the verdict. (more...)
Chinese state media accuse US of 'mobster mentality', vow to fight tariffs Chinese state media accuse US of 'mobster mentality', vow to fight tariffs
- August 11, 2018

Beijing late on Wednesday said it would slap additional tariffs of 25 percent on $16 billion worth of US imports, in retaliation to news the United States plans to begin collecting 25 percent extra in tariffs on $16 billion of Chinese goods from August 23. (more...)
VanEck Reacts To SEC's Bitcoin ETF Concerns VanEck Reacts To SEC's Bitcoin ETF Concerns
- August 11, 2018

The SEC postponed its decision on whether to approve the Bitcoin ETF , dealing a blow to bulls who had bet a green light from the regulator would help sustain last month's tenuous rally. Since Bitcoin has been created to be an endless resource with a total of 21 Million mineable coins, a higher market capitalization means that the value of a single Bitcoin is going to increase. (more...)
Bitcoin Price Analysis: BTC Price Testing Last Line of Defense Before $6,000 Bitcoin Price Analysis: BTC Price Testing Last Line of Defense Before $6,000
- August 11, 2018

Bitcoin core ( BTC ) prices at the moment are around $6481 per BTC and the cryptocurrency's market valuation today is $111B. BTC even briefly fell to the $6,100 price level but quickly moved up slightly above the $6,300 price mark. Meanwhile, the near-term support is seen at $400.00 and resistance at $420.00. At the time of writing, Litecoin was down 0.59% to $62.71, with Thursday's late pullback weighing in the early hours of this morning, Litecoin falling to a morning low $62.5, ... (more...)
Trump OKs stiffer tariffs on Turkish metals as lira plummets
- August 11, 2018

On Friday, Turkey's currency, the Lira , fell as much as 14%, causing the global financial markets to shudder. Trump also threatened additional "large sanctions " against Turkey, a North Atlantic Treaty Organisation ally, for Brunson's detention. (more...)
Donald Trump Authorizes More Steel and Aluminum Tariffs on Turkey Donald Trump Authorizes More Steel and Aluminum Tariffs on Turkey
- August 11, 2018

The lira fell further after Mr Trump's tweet . World stock markets fell Friday, particularly in Europe, as investors anxious about the financial stability of Turkey, where the currency has nosedived. Don't worry", Erdogan told a crowd in the northeastern city of Bayburt. The Turkish president took aim at the U.S. in his address, claiming "some countries have engaged in behaviour that protects coup plotters and knows no laws or justice". (more...)
Hundreds of flights cancelled across Europe in Ryanair strike Hundreds of flights cancelled across Europe in Ryanair strike
- August 10, 2018

German pilot representatives said at a news conference Wednesday at Frankfurt's airport that they were joining the strike action because they want pay and work conditions comparable to those at Ryanair's competitors. Unions have strongly condemned what they see as Ryanair's attempts to play countries off against each other. Ryanair planes have a capacity of 189, meaning more than 74,000 passengers could be affected. (more...)

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