• A sixth firefighter killed battling California wildfires
A sixth firefighter killed battling California wildfires

But most of that has been driven by the Ranch Fire , which has burned much more vigorously. The fire moved north towards that area overnight, burning near homes and the dam, and crews are now on the ground working on structure defense. The Carr Fire has been the deadliest of the wildfires to hit the West this season. "They're not fighting any fir...

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  • Lawsuits accuse Tesla's Musk of fraud over tweets, going-private proposal
Lawsuits accuse Tesla's Musk of fraud over tweets, going-private proposal

Am considering taking Tesla private at $420. Some analysts have suggested that Musk could convince Tesla's top shareholders, such as Fidelity Investments and China's Tencent, to roll their equity stakes into the deal, thereby significantly reducing the amount of money needed to be raised.

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  • Erdogan: The collapse of the lira is a conspiracy against Turkey
Erdogan: The collapse of the lira is a conspiracy against Turkey

That draws capital away from Turkey, weakening the currency . But a rapidly falling currency like the Turkish lira undermines that confidence as much more local money is needed to service foreign debt - making default that much more likely.

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  • Turkish president: U.S. set deadline to release detained pastor
Turkish president: U.S. set deadline to release detained pastor

The Lira extended its selloff and fell by up to 11% against the Dollar in thin trading in Asia, before trimming losses after the Turkish Banking Regulation and Supervision Agency stepped in to limit swap transactions on the currency. "The " Turkey shock" from last weekend, triggered by sharp plunges of the lira, has fuelled fears that it may i...

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  • Who Will Fund Elon Musk's Tesla Takeover? It Could Be Saudi Arabia
Who Will Fund Elon Musk's Tesla Takeover? It Could Be Saudi Arabia

Musk and SoftBank Group's Masayoshi Son held talks past year that touched on taking Tesla private, two people with knowledge of the discussions have said. 10. Musk last week shocked investors with his announcement on Twitter that he was looking to take Tesla private at US$420 a share, valuing the company at US$72 billion.

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  • Airliner stolen from Seattle-Tacoma airport crashes
Airliner stolen from Seattle-Tacoma airport crashes

Air Alaska passengers wait in the terminal following an incident where an airline employee took off in an airplane, at Seattle-Tacoma International Airport in Seattle , Washington, U.S., August 10, 2018. The station aired footage of a fire at the crash site taken by its helicopter. Those guys will rough me up if I try and land there. Then th...

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  • Oil Prices Slide As China Imposes 25 Tariff On U.S
Oil Prices Slide As China Imposes 25 Tariff On U.S

The latest round of American and Chinese tariffs, which bring the running total of targeted goods to $50 billion on each side, are set to take effect August 23. Washington had already imposed tariffs on United States dollars 34 billion on July 6 but held off on a final USD 16 billion in goods as a result of concerns from U.S.

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  • Elon Musk Wants to Take Tesla Private at $420 a Share
Elon Musk Wants to Take Tesla Private at $420 a Share

At $420 per share, a deal would be worth $72 billion overall. In the post , Musk said that he feels a forward-looking company such as Tesla is better off being private and avoiding the short-term thinking involved with public markets. In his letter, Musk suggested a choice for shareholders of selling their shares for $420 each or remaining inv...

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  • Facebook asks US banks for financial info to boost user engagement
Facebook asks US banks for financial info to boost user engagement

Facebook tried to persuade banks to give it their users' data by promising them features such as users being able to see their checking account balances or receiving fraud alerts within Facebook Messenger. JPMorgan isn't "sharing our customers' off-platform transaction data with these platforms, and have had to say no to some things as a result", s...

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  • China threatens new tariffs on $60 bn worth of U.S. goods
China threatens new tariffs on $60 bn worth of U.S. goods

Then there is what China says and on Thursday, Beijing urged the United States to "calm down" and return to reason after news that Trump may hike the tariffs from 10% to 25%. Speaking just hours after China unveiled the countermeasures on Friday, Larry Kudlow , Trump's chief economic adviser, said the United States president was willing to fo...

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  • United States unemployment rate falls to 3.9 percent as hiring slows
United States unemployment rate falls to 3.9 percent as hiring slows

Average hourly earnings increased 2.7 percent from a year earlier, unchanged from June and matching projections, while the jobless rate ticked down to 3.9 percent as forecast. "Price hikes tied to tariffs are likely to exacerbate that dynamic in the third quarter, which will leave the Federal Reserve raising rates without the wage gains that usua...

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  • Iran acquires commercial aircraft ahead of USA sanctions
Iran acquires commercial aircraft ahead of USA sanctions

Videos on social media in recent days have shown people marching in the streets of several cities, chanting radical slogans. But US President Donald Trump chose to reimpose punishing sanctions against Iran, whom he has accused of posing a security threat.

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  • Mark Carney warns chance of no-deal Brexit is 'uncomfortably high'
Mark Carney warns chance of no-deal Brexit is 'uncomfortably high'

The next few months will prove to be laden with risk for Sterling as the EU and United Kingdom try to come to a deal that must be agreed on at the October EU Summit. The Bank of England has increased interest rates to their highest level for almost 10 years and said further "gradual" rises are on the cards. Mark Carney has warned that the pos...

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  • 'Bad manners': Musk's apology to analysts sends Tesla shares soaring
'Bad manners': Musk's apology to analysts sends Tesla shares soaring

Among the many faces of Elon Musk-for a glimpse of how many, look no further than the Musk memes-the Tesla CEO seems to have found the persona most likely to make him rich: Apologetic Elon. Musk attributed his intemperate remarks this spring to the long work weeks at Tesla and a lack of sleep, while adding that "there's still no excuse for it".

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  • USA imposes sanctions on Turkish officials over pastor's detention
USA imposes sanctions on Turkish officials over pastor's detention

Turkey will retaliate against a United States decision to impose sanctions on two senior ministers over the imprisonment of Pastor Andrew Brunson, the foreign ministry said on Wednesday. Brunson was accused of helping supporters of Fethullah Gulen, the US -based cleric who Turkish authorities say masterminded the 2016 coup attempt against Erdogan...

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  • After $120B Stock Tumble, Facebook Investors Claim Fraud
After $120B Stock Tumble, Facebook Investors Claim Fraud

It's been a rough year for Facebook and its investors. Late Wednesday, Facebook warned that its revenue growth will slow down significantly for at least the remainder of the year and that expenses will continue to skyrocket. However, the titular chairman of the Berkshire Hathaway Inc.'s $83 million fortune without a doubt tops the Facebook...

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  • Over $109bn wiped off Facebook's market cap after growth shock
Over $109bn wiped off Facebook's market cap after growth shock

But the revenue of $13.2 billion missed Wall Street estimates of $13.4 billion. A #DeleteFacebook campaign didn't have any "material impact" on the bottom line, COO Sheryl Sandberg said earlier this year. Facebook didn't respond to a request for comment. "GDPR was an important moment for our industry", Zuckerberg said on Wednesday. "Lookin...

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  • Weather warning issued for thunderstorms
Weather warning issued for thunderstorms

Forecasters were expecting the prolonged heatwave to continue with temperatures set to peak on Thursday and Friday. The Met Office has issued a level 3 amber alert for the East Midlands with the heatwave set to return. Murphy said that even though the last few days have been warm, conditions for the next week are expected to get "cooler" acro...

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  • Saudi Red Sea oil shipments halted after Houthi attack
Saudi Red Sea oil shipments halted after Houthi attack

Saudi Energy Minister Khalid al-Falih said the Houthis attacked two Saudi oil tankers in the Red Sea on Wednesday, one of which sustained minimal damage. Any move to block the strait would virtually halt oil shipments through Egypt's Suez Canal and the SUMED crude pipeline linking the Red Sea and Mediterranean.

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  • Trump’s financial aid offer to farmers criticized as tax-funded ‘welfare’
Trump’s financial aid offer to farmers criticized as tax-funded ‘welfare’

Following talks at the White House , Donald Trump and Jean-Claude Juncker emerged to announce they had agreed to work together towards "zero" tariffs, barriers and subsidies. The Commission briefed European Union countries last week on the bloc's possible response to auto tariffs, saying in theory it could hit 9 billion euros of USA goods, acc...

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  • Facebook in freefall as weak outlook stuns market
Facebook in freefall as weak outlook stuns market

Worldwide daily user growth for Facebook's namesake service slid for its sixth straight quarter, bringing it to almost 1.5 billion users in the second quarter. The earnings call that cast serious doubt about Facebook Inc.'s seemingly unstoppable growth started normally enough. Daniel Ives , head of technology research at GBH Insights , said...

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  • Fiat Boss Sergio Marchionne dies aged 66
Fiat Boss Sergio Marchionne dies aged 66

It also claims that Marchionne is now being kept alive only by machines, and that doctors said there was no hope of recovery. The former chairman of Ferrari , Sergio Marchionne , has died in Zurich at the age of 66 following complications in shoulder surgery.

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  • Alphabet reports robust earnings despite European Union fine
Alphabet reports robust earnings despite European Union fine

Revenue growth has accelerated from the 21% rate of a year ago, thanks in part to an increase in the number of paid clicks, which rose 58% from the year-ago quarter. Google will be able to effectively shrug off a $ 5 billion fine and still make close to $3 billion in a single quarter. "I think overall it [Android] has created more choice for eve...

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  • President Trump planning emergency aid to farmers affected by tariffs
President Trump planning emergency aid to farmers affected by tariffs

Earlier this month, 25 percent tariffs on $34 billion of Chinese imports of machinery and electronics went into effect, prompting Beijing to respond with tit-for-tat tariffs on American exports of soybeans and other products. exports of agriculture products and other heavily exported United States goods. Trump said on Friday that he would be willin...

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  • North Korea said to be dismantling key parts of satellite launch site
North Korea said to be dismantling key parts of satellite launch site

South Korean officials have also said they detected dismantlement activities at the site, though didn't specify the exact nature of the activities. Trump said after the June summit that Kim had pledged to dismantle one of his missile installations, which would be North Korea's most concrete concession to emerge from the Singapore meeting.

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  • Tesla Asks Suppliers for Refunds to Help Profit
Tesla Asks Suppliers for Refunds to Help Profit

What's more, a recent teardown of the Model 3 suggests that Tesla's mass market EV might be far more profitable than initially anticipated. While certainly an ambitious goal given Tesla's history, there's reason to believe that Musk's promise might actually pan out.

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  • Trump threatens tariffs on all $500 bln of Chinese imports
Trump threatens tariffs on all $500 bln of Chinese imports

China accused the US of starting the "largest trade war in economic history". Additionally, Business Insider reports that "manufacturers from China's Jiangsu and Hebei provinces, who have reportedly produced hundreds of "Make America Great Again" hats, have said the cost of their product is likely to spike due to impending tariffs".

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  • Google fined record US$5b by European Union over Android
Google fined record US$5b by European Union over Android

The EU is also now investigating Google in another antitrust case relating to its AdSense service. Google has used Android as a vehicle to cement its dominance as a search engine. Although Google's appeal is likely to begin a game of table tennis between itself and the European Commission that will last years, this concludes the lengthy inves...

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  • Tesla share price drops after Elon Musk's 'pedo' comment
Tesla share price drops after Elon Musk's 'pedo' comment

Unsworth says he felt "astonished and very angry" at the attack and told The Guardian that he would consider legal action . Musk called Unsworth a " pedo ", or pedophile, in a tweet that he later deleted. "The submarine , I believe, was about 5 feet 6 inches [1.7m] long, rigid, so it wouldn't have gone round corners or round any obstacl...

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  • A new round of proposed Trump tariffs would hit US consumers
A new round of proposed Trump tariffs would hit US consumers

The Commerce Ministry on Wednesday gave no details, but Beijing responded to last week's U.S. tariff hike on $US34 billion ($A46 billion) of imports from China by increasing its own duties on the same amount of American goods. In Asia , Japan's benchmark Nikkei 225 fell 1.2 percent to 21,932.21 and South Korea's Kospi lost 0.6 percent to finis...

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  • USA tariffs take effect, China warns of 'counterattack'
USA tariffs take effect, China warns of 'counterattack'

The Trump administration drafted its initial tariff list to spare consumers, and numerous products that American families purchase from China, like flat-screen TVs and shoes, are not directly hit on Friday. Xi's government has expressed confidence China can hold out against USA pressure, but companies and investors are uneasy. On Thursday, a spok...

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  • Walmart boycott threatened after outcry over 'Impeach 45' clothing
Walmart boycott threatened after outcry over 'Impeach 45' clothing

The superstore's online platform sold apparel promoting impeaching the 45th president of the United States, Donald Trump . What those users didn't realize was that Walmart is also selling a variety of pro-Trump hats and shirts. The continued sale of the clothing items and whether or not a widespread boycott of Walmart catches on has not yet be...

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  • European Union warns Trump: auto tariffs could lead to $300B retaliation
European Union warns Trump: auto tariffs could lead to $300B retaliation

Eighty-five percent of those exports, or $2.6 billion worth, could be impacted by Chinese tariffs, with the other $400 million primarily being hit by Canada and Mexico, based on U.S. " The European Union is possibly as bad as China, just smaller", he told Fox News in an interview, adding that it was "terrible what they do to us" and then mentionin...

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  • Trump administration ramps up pressure on Iran's economy
Trump administration ramps up pressure on Iran's economy

WASHINGTON-The Trump administration will consider requests for waivers from economic sanctions against Iran on a "case-by-case" basis, a senior State Department official said Monday, a step back from threats to insist on zero imports by a November 4 deadline.

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  • End of an era: Toys 'R' Us stores close for good
End of an era: Toys 'R' Us stores close for good

Her photo of Geoffrey the Giraffe leaving got the most attention, receiving almost 300,000 shares on Facebook. "The company's operations outside of the USA and Canada, including its operations in Europe and Australia and its approximately 255 licensed stores and joint venture partnership in Asia, which are separate entities, are not part of the C...

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  • Trump warns Harley-Davidson: 'We won't forget'
Trump warns Harley-Davidson: 'We won't forget'

Harley-Davidson is suffering the fate of many of those who tangle with the president: Twitter trolls. The company doesn't have specific information on where production for the European Union will take place, he said. "Shows how unbalanced and unfair trade is, but we will fix it", Trump tweeted about the issue. The President went on to tell Harl...

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  • Harley-Davidson US production a casualty in Trump tariff war
Harley-Davidson US production a casualty in Trump tariff war

The EU is Harley's most important market outside of the USA, accounting for 40,000 sales in 2017. Harley-Davidson said the EU's new tariffs on US-made motorcycles would drive up costs and force the company to shift a sizable portion to its production outside of the U.S.

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  • Online Retailers Lose State Tax Subsidy
Online Retailers Lose State Tax Subsidy

When we asked him if sellers must immediately begin collecting sales tax for all states and all localities, he said no, "but it does mean that sellers need to start preparing for a sea change in their compliance obligations". "It is going to squash the entrepreneurship, I just can not stress that enough", Christy Keyon, who owns Bird and Bean C...

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  • IN officials react to Supreme Court's online sales tax decision
IN officials react to Supreme Court's online sales tax decision

The U.S. Supreme Court has announced their decision on the S. Dakota v. Wayfair case, overturning the long-standing rule that states could not tax businesses or sellers outside of that state's borders. Second, Hawaii is not a member of the Streamlined Sales Tax Agreement and can not be a member unless its laws are amended significantly. "With...

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  • Cannabis legalization in Canada officially law as bill receives royal assent
Cannabis legalization in Canada officially law as bill receives royal assent

Ditching the War on Drugs, Canada is now the second country in the world to legalize recreational use of marijuana . Trudeau administration had initially meant to have the law rolled out by July 2018, but territories and provinces requested for additional time to come up with their own rules for weed sales.

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