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Turkey doubles tariffs on some U.S. imports; lira rallies

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ISTANBUL (Reuters) - Turkey doubled tariffs on some U.S. imports including alcohol, cars and tobacco on Wednesday in retaliation for U.S. moves, but the lira rallied further after the central bank's liquidity moves had the effect of…

Italy bridge operator in spotlight as collapse death toll rises

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Rescuers hunted for survivors among towering slabs of wreckage on Wednesday after a bridge collapse that killed 39, as furious government ministers rounded on the viaduct's operator, saying it should pay fines and compensation and lose its…

China says U.S. solar tariffs violate trade rules, lodges WTO complaint

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China's commerce ministry said a U.S. decision to subsidise renewable energy firms and impose tariffs on imported products has seriously distorted the global market and harmed China's interests, firing the latest shot in a broader trade…

UK inflation rises for first time in 2018, pay sqeeze continues

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Britain's inflation rate picked up for the first time this year in July, leaving many British households still feeling squeezed by prices that are still rising at about the same pace as their salaries. David Pollard reports.

Top Stories in last day

20

UPDATE 3-U.S. SEC subpoenas Tesla over Musk's tweets -report

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The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding Chief Executive Elon Musk's plans to take the company private and his statement that funding was "secured," Fox Business Network reported on Wednesday,…

19

Wall Street slips, turns risk averse on strong dollar, trade worries

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U.S. stock indexes slid on Wednesday in a broad decline over concerns of a strengthening dollar, Turkey's currency crisis and United States' trade relations with its partners.

U.S. retail sales, manufacturing data bolster third-quarter economic outlook

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U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.

17

Uber told by investors to sell self-driving unit: The Information

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Investors have told Uber Technologies Inc it would be wise to sell off its self-driving car unit after it racked up losses of $125 million to $200 million each quarter for the past 18 months, tech news site The Information reported on…

From blue lipstick to Facebook Live, home shopping networks refine their pitch

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HSN, once known as the Home Shopping Network, is getting an image makeover.

16

RBS pays $4.9 bln for crisis-era misconduct, customer survey hurts too

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Royal Bank of Scotland will pay $4.9 billion to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008. As Francis Maguire reports, the U.S. Justice Department said the penalty is the…

13

How home shopping networks are setting themselves apart

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Qurate- the parent company of HSN and QVC told Reuters they now are culling HSN's core merchandise offerings to eliminate many higher-priced electronics and some home goods such as vacuum cleaners and blenders. Instead, they are adding…

12

Global stocks, emerging currencies, lick wounds as lira bounces for second day

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Action from Turkey's central bank pushed the lira higher for a second day on Wednesday, helping European stocks and emerging currencies consolidate recent losses though the dollar stuck at 13-month highs kept up the pressure on world…

11

Analysis: Saudi fund may only play minor part in Elon Musk's $72 billion Tesla plan - bankers

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Elon Musk told investors this week that "obviously, the Saudi sovereign fund has more than enough capital needed" to finance taking Tesla private.

07

Global Markets: Asian stocks hit 1-year low amid Turkey woes, bearish China equities

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Asian stocks retreated to a one-year low on Wednesday as bearish Chinese markets worsened investor sentiment already hurt by Turkey's financial crisis.

05

Global Markets: Asian stocks retreat as Turkey worries weigh, dollar buoyant

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Asian stocks retreated on Wednesday, failing to follow Wall Street's gains, while the dollar was near a 13-month high as concerns about Turkey's financial crisis weighed on investor appetite despite the lira's move away from an all-time…

01

Tesla forms three-member panel to decide on any Musk deal

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Tesla's board named a special committee of three directors to negotiate with Elon Musk on taking the electric carmaker private. Roselle Chen reports.

23

Wall St rises on earnings optimism, lira rebound

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Wall Street's three major indexes rose as a string of healthy earnings boosted investor optimism and a rebound in the Turkish lira eased contagion fears. Roselle Chen reports.

22

U.S. corporate profits cycle remains very strong, says William O'Neil+Co's Randy Watts.

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As long as investors see a double-digit profit growth, which is forecast this year and next year, stocks will continue to do well, says Randy Watts, chief investment strategist at William O'Neil+Co. Aleksandra Michalska reports.

UPDATE 1-IATA still pursuing complaint against Honeywell after CFM deal

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The International Air Transport Association (IATA) is pursuing its complaint against Honeywell to EU antitrust regulators, it said on Tuesday, even as the air transport group struck a deal over a similar grievance with engine maker CFM.

21

Tesla forms committee to review Musk’s plan

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Tesla's board named a special committee of three directors on Tuesday to evaluate possibly taking the electric carmaker private, although it said it had yet to see a firm offer from the company's chief executive, Elon Musk.

Tuesday, Aug 14

Wall St. gains on earnings, recovery in bank stocks

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U.S. stocks rose in a broad rally on Tuesday after four straight days of losses on a strong set of earnings from retailers and as bank stocks rebounded after the Turkish lira snapped a three-week slide.

Erdogan says Turkey will boycott U.S. electronics

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Turkish President Tayyip Erdogan announced a boycott of U.S. electronic products on Tuesday, amid a crisis over the national currency.

Dutch superyacht builders propelled by rising economic tide

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The trend for more and more luxurious yachts has helped the Netherlands double its ship building business in recent years. As Sonia Legg reports, Heesen Yachts, and a handful of others, has made the country second only to Italy in the mid…

BMW engine fires lead to South Korea bans

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South Korean officials say they're banning some 20,000 BMW vehicles from the streets after a number of engines went up in flames.

Monday, Aug 13

Wall Street dragged down by fall out from Turkey's plunging lira

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U.S. stocks dropped on Monday as global jitters from Turkey's plummeting currency spread to Wall Street, with the S&P 500 and the Dow falling for the fourth session in a row.

Turkish lira pulls back from record low, markets rattled

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Turkey's lira pulled back from a record low of 7.24 to the dollar on Monday after the central bank pledged to provide liquidity, but it remained under selling pressure and its meltdown caused further unease on global markets.

Musk seeks support for Tesla buyout plan

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Elon Musk revealed through a blogpost Monday Saudi interest in funding his Tesla buyout plan but warned financing for the possible buyout still has a way to go before coming together.

Bayer shares plunge on Monsanto cancer payout

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Shares in German multinational Bayer fell to their lowest point in two years on Monday, after a court ordered one of its subsidiaries to pay damages to a cancer sufferer on Friday.

Sunday, Aug 12

Trump backs boycott of Harley Davidson in steel tariff dispute

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President Donald Trump backed boycotting American motorcycle manufacturer Harley Davidson Inc on Sunday, the latest salvo in a dispute between the company and Trump over tariffs on steel.

Alaska seafood industry braces for China tariff pain

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Alaska fishermen are used to coping with fickle weather and wild ocean waves. Now they face a new challenge: the United States' trade war with China, which buys $1 billion in Alaskan fish annually, making it the state’s top seafood export…

U.S. soybean cargo docks in Chinese port after weeks at anchor amid trade dispute

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A ship carrying soybeans from the United States docked in the port of Dalian on Saturday, more than a month after it arrived off China's coast just hours after hefty tariffs were imposed on U.S. goods, according to Thomson Reuters Eikon…

Saturday, Aug 11

Exclusive: Saudi Arabia's PIF has shown no interest in bankrolling Tesla buyout

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Saudi Arabia's Public Investment Fund (PIF) has shown no interest so far in financing Tesla Inc CEO Elon Musk's proposed $72 billion deal to take the U.S. electric car maker private, despite acquiring a minority stake in the company this…

Chinese media keep up drumbeat of criticism of US

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China's state media continued a barrage of criticism of the United States on Saturday as their tit-for-tat trade war escalated, while seeking to reassure readers the Chinese economy remains in strong shape.

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

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Tesla Inc and Chief Executive Elon Musk were sued twice on Friday by investors who said they fraudulently engineered a scheme to squeeze short-sellers, including through Musk's proposal to take the electric car company private.

Tesla CEO sued for defrauding shareholders

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Tesla Inc and Chief Executive Elon Musk were sued on Friday by an investor who said they committed securities fraud in a scheme to “completely decimate” short-sellers that included Musk’s proposal to take the electric car company private.

Friday, Aug 10

Wall Street ends lower as Turkey woes hit banks

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U.S. stocks slid as a deepening economic crisis in Turkey dragged on bank stocks and triggered fears that it could spread to other global economies. Roselle Chen reports.

Qualcomm reaches settlement in Taiwan anti-trust case

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Mobile chipmaker Qualcomm will settle an anti-trust case with Taiwanese regulators for about $93 million, and has also pledged to invest $700 million in Taiwan over the next five years. As Francis Maguire reports, the settlement replaces a…

Exclusive: Tesla's board seeking more information on Musk's financing plan - sources

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Tesla Inc's board has not yet received a detailed financing plan from CEO Elon Musk, and is seeking more information about how he will take the U.S. electric car maker private in a proposed deal worth $72 billion, people familiar with the…

S&P 500, Dow end lower with drag from energy stocks

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The S&P 500 and Dow ended down slightly on Thursday as gains in Apple and Amazon were offset by losses in energy shares. Roselle Chen reports.