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Cal Fire: Utah Firefighter Dies Battling Ranch Fire

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The Holy Fire raging in Southern California's Cleveland National Forest is 52 percent contained and has consumed 22,714 acres. As of Monday evening, it was 68 percent contained. Forrest Gordon Clark , 51, has been charged with arson, accused of starting the fire in Orange County's Holy Jim Canyon on August 6. Forrest Clark, 51, made several outbursts, claiming his life was being threatened and saying the arson charge against him was a lie. Read More »

Elon Musk’s tweet draws Tesla investor lawsuit over share price swings

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But none of the six major United States banks has offered to lend the necessary amount to Musk, and they learned about the plans on Twitter with the rest of the public, several banking sources told AFP. Emboldened, shorts have pushed Tesla short interest percentage to 27.3 percent of the float on Thursday, up from 27.2 percent on Monday, S3 data showed. Read More »

Turkey crisis: Erdogan vows to boycott U.S. electronics

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The dispute with the United States has centered on the continued detention of an American pastor who is on trial for espionage and terror-related charges. "With God's permission we will overcome this", he says. "We are going to boycott U.S. electronics", Erdogan said at celebrations of the 17th anniversary of his Justice and Development Party. Read More »

Turkey in danger zone as Trump raises tariffs

President Trump has doubled United States tariffs on Turkish steel and aluminium , as the precipitous fall of the Turkish lira accelerates. On March 1 , Trump had announced global tariffs of 10 percent on all aluminum to the USA and 25 percent on all steel imports. Read More »

USA unveils list of products facing tariffs

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The US is also considering further tariffs on another $200bn worth of Chinese goods which could come into effect in September. Chinese imports of goods and services into the United States previous year amounted to almost $524 billion. The list is heavy on industrial products such as steam turbines and iron girders. Due to the rising trade tension between China and the United States, the trading arm of Chinese state oil major Sinopec is said to have suspended imports of crude oil from the ... Read More »

Oil slips as trade worries weigh on market

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The market has become volatile as concerns over political threats to supplies, such... OPEC and Russian Federation reported an increase in their output by 300,000 and 150,000 barrels per day in July, respectively. The official selling price for Oman crude oil during July 2018, for the delivery month of September 2018, settled at US$73.17, lower by US$0.44 only compared with June trading prices. Read More »

Elon Musk’s Tesla Claim Could Land Him in Regulatory Trouble

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Analysis: will the Model 3 make or break Tesla? In another Investopedia article, Why Public Companies Go Private , we lay out some of the straightforward reasons a publicly-traded company would choose to do just that - go private: "An acquisition can create significant financial gain for shareholders and CEOs, while the reduced regulatory and reporting requirements private companies face can free up time and money to focus on long-term goals". Read More »

India's Iranian oil intakes jump to record high in July

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He called Washington's attempt to reduce Iran's oil exports to zero was " mindless " and a sign that the Trump administration has not " thought about its consequences ". The first round of United States sanctions on Iran goes into effect on August 6, followed by ones targeting Iran's oil exports on November 4. The sanctions targeting Iran's oil industry could cut off a crucial source of hard currency. Read More »

Payrolls rise 157,000 in July

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The nation as a whole added 157,000 jobs across all industries in July, fewer than in June when an upwardly revised 248,000 jobs were added, and in May when an upwardly revised 268,000 workers were added to payrolls. The economy needs to create about 120,000 jobs per month to keep up with growth in the working-age population. The BLS also provides a rate that counts in people who looked for work in the past 12 months as well as people who work part-time but want a full-time job. Read More »

Loans to get costlier as RBI hikes repo rate again

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RBI in its policy statement has said that the risks to its 4 per cent inflation outlook has increased since its last meeting in June on account of rising trade tensions. the public sector and the private sector owned banks" Shukla said. "The reason they have done that is to be in a position to be able to withstand a shock, wherever the shock comes from - it could come from China, it could come from overseas, it could come from a no-deal Brexit ". Read More »

Tesla aims to build 6,000 Model 3s per week by late August

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But Tesla shares actually rose by about 4 percent on speculation it will turn profitable before the year's end. The net loss of $717.5m (£547.6m) more than doubled that from the same period past year, and was slightly larger than the first quarter loss. Read More »

Why Trump Imposed Sanctions on a Key NATO Ally

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The State Department has said they're being held as hostages for the goal of extracting concessions on other points of contention in the Turkey-U.S. relationship. Brunson was recently put under house arrest after 21 months in jail due to deteriorating health. "Suffice it to say I think these are totally appropriate measures to take in order to deal with the Turkish government's hostage taking", he said, "not only of Pastor Brunson but also other Americans and the USA government's local ... Read More »

Apple boosted by selling more expensive iPhones

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Shares rose 3.4 per cent to US$196.80 in after-hours trade. Apple moved 41.3 million iPhones in its third quarter, which was less than the 41.79 million Wall Street was expecting - but blew past the predicted $693.59 average selling price for a smartphone. Read More »

Harley Davidson plans smaller bike with eye on India

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Royal Enfield has developed bikes that will help it enter the 650cc category later this year. The move will also "enable accessible price point for premium small displacement market entry", Harley-Davidson added. This "beginner" H-D will be produced through a planned strategic alliance with a manufacturer in Asia. The uniquely styled adventure bike , which is the first Harley Davidson of its kind, will be named the Pan America , and the company has some big plans for it. Read More »

Facebook's US$119 billion one-day loss makes USA history

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At that point, the stock was still recovering from an earlier battering over a major privacy scandal. It was the second time Facebook stock took such a dramatic plunge. There are several reasons for the declining revenue growth rate. Scott Kessler, a representative from CFRA Research commented on the issue: "Legal/regulatory developments have led to changes meant to support FB's platform and users, but they will notably restrain growth and profits for at least the next couple of quarters, ... Read More »

Soybean price chart shows why Trump is helping farmers amid trade war

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His comments came after his administration announced a plan to provide 12 billion dollars (£9 billion) in emergency relief for farmers who have been hit by the president's trade disputes with China and other countries. Juncker said that an European Union intent to buy more soybeans helped to convince Trump to call a truce on the tit-for-tat trade dispute. He reiterated that no new tariffs would be imposed during the negotiations and if the USA concluded an agreement, "there would be no ... Read More »

Twitter Shares Fall, Ending A Hard Week For Social Media Stocks

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While Facebook suffered the worst single-day stock selloff in USA history Thursday when its shares dropped more than 18 percent, Twitter's stock also fell Thursday, though less than 3 percent. Analysts had expected a gain of 1 million users, and the results could harden concerns that Twitter lacks a clear strategy to grapple with various platform problems and grow usage and revenue together. Read More »

This tech billionaire just lost US$15.9 billion in a single day

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Despite buoyant growth in recent months, reaching an all-time high on Wednesday, the company warned that the second half would see a slower pace of revenue growth, and that profit margins in the years to come are set to slip. Amazon Web Services sales hit $6 billion, marking a yearly growth rate of nearly 50 percent, while the segment's profit was $1.64 billion. The General Data Protection Regulation (GDPR) in the European Union also will cause a revenue drop . Read More »

California Mega Millions lottery ticket wins $522 million jackpot

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That means despite Tuesday's jackpot being smaller, the victor will still take home a higher sum of money. The Mega Millions winning tickets sold in MA and Texas included the optional Megaplier, winning those players $3 million each. While just one $522 million Mega Millions ticket was sold in Tuesday night's near-record lottery drawing, two tickets worth $10,000 were sold in Henrico County. Read More »

Trump, Juncker announce deal pulling back from US-EU trade war

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What Trump described as a "big day" came after he slammed the European Union for months only to predict earlier Tuesday before his meetings with Juncker that he thought they would strike a trade deal that will be "good for everybody". These practices ring of criticisms the US and President Trump have lodged against the Chinese as unfair trading practices. Many US farm states vote Republican, but Republican candidates in looming congressional elections are anxious about their electoral ... Read More »

Facebook shares in free fall as weak outlook stuns market

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The news sent Facebook shares crashing some 20 percent, which suggests reality may be catching up to the social networking giant - and the flap over fake news and related scandals may be starting to take a toll. In the United Kingdom, especially, Facebook drew the ire of lawmakers, who hit the social network with a $650,000 fine, the maximum amount allowable for mishandling user data. Read More »

Tesla Asks Suppliers for Cash Back in a Bid to Achieve Profitability

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This development comes at a critical time as the company is struggling to boost production of its first mainstream model, the Model 3. It suggested that all Tesla suppliers were being asked to make partial refunds, but some of the companies that the WSJ talked to denied any knowledge of such a request. Read More »

CBN commences chinese Yuan forex intervention

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Earlier this year, he used national security as a justification for taxing imported steel and aluminum. The administration has also accused China of engaging in unfair trade practices by forcing American investors to turn over key technologies to Chinese firms. Read More »

With eye on 2019, government slashes GST rates on 100 items

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The council also approved a simplified return filing mechanism wherein all taxpayers, excluding small taxpayers, will now file one monthly return with two main tables - one for reporting outward supplies and one for availing input tax credit based on invoices uploaded by the supplier. Read More »

Trump threatens tariffs on all $500 billion of Chinese imports

Asian markets mostly tumbled on Friday tracking a fall on Wall Street after US President Donald Trump criticised the Federal Reserve's interest rate hikes amid lingering fears about a global trade war . So somebody would so 'oh, maybe you shouldn't say that as a president.' I couldn't care less what they say, because my views haven't changed. "I'm not thrilled . Read More »

Will EU penalty make a difference in Google's smartphone dominance?

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The other practices banned by the European Union include Google's payments that were conditional on exclusively pre-installing Google Search and preventing device makers from installing competing versions of Android. The Commission opened its investigation into Android following a 2013 complaint from lobbying group FairSearch, which was backed by competitors including Oracle, Nokia and Microsoft . Read More »

Tesla slides after an eventful weekend for Elon Musk (TSLA)

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Musk hit back and baselessly referred to Unsworth as " pedo guy " - short for paedophile - in a heated series of tweets to his 22 million followers on Sunday, sparking threats of legal action from the diver. He said Mr Musk appeared to be following in the footsteps of US President Donald Trump in using Twitter to vent frustration and insult anyone with whom he disagrees. Read More »

Thailand cave rescue: Boys 'can walk but can't dive yet'

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The Tesla and SpaceX CEO tweeted on Wednesday that he was " happy to help " the Thai government's rescue efforts, and by Thursday he was pitching ideas over Twitter with James Yenbamroong, CEO of Thai space startup mu Space Corp, about potential strategies that could work. Read More »

Trump’s trade war begins, and China hits back - sort of

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China's officials have previously said they would respond by imposing higher levies on goods ranging from American soybeans to pork, which may in turn prompt Trump to raise trade barriers even higher. That would bring the total of targeted Chinese goods to potentially $550 billion, which is more than the $506 billion in goods that China actually shipped to the United States past year. Read More »

Tesla hits Model 3 weekly production goal for first time

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No matter how freaky, Tesla CEO Elon Musk's warnings to investors who bet against his company have been prescient. Tesla confirmed the contents of the email. Optimism about the Model 3 transforming Tesla into a much bigger carmaker that sells to the mass auto market sent the company's market capitalization past Ford Motor Co and General Motors Co. Read More »