The Turkish lira eased to slightly below 6.0 against the dollar on Thursday after the United States ruled out removing steel tariffs on Turkey even if Ankara frees a U.S. pastor and after Qatar pledged $15 billion in investment to Turkey.
Asian shares pulled away from one-year lows on Thursday, after Beijing said it will hold trade talks with Washington this month, although Turkey’s currency crisis and fears of an economic slowdown in China kept most markets in the red.
Turkey should commit to sound economic policies to promote stability and reduce imbalances at a time of market volatility, an IMF spokesperson said on Wednesday as a row between Washington and Ankara over the jailing of an American pastor dragged on.
There is no indication that Turkish authorities are considering asking for IMF financial assistance, a spokesperson for the International Monetary Fund said on Wednesday.
Asian shares hit fresh one-year lows in early trading on Thursday, while oil and precious metal prices also tumbled as Turkey’s currency crisis and fears of an economic slowdown in China fanned worries about global growth.
The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira.
The head of Boeing Co.’s 737 jetliner program and site manager for the Seattle-area factory where the popular narrow-body plane is manufactured will retire at the end of the year. Scott Campbell is stepping down after three decades at Boeing, a career that encompassed all of the company’s current commercial aircraft product lines. “Earlier this year Scott came to me expressing his desire to retire and spend more time with his family, and I asked him to stay on for a bit longer,” Kevin McAllister, who heads Boeing’s commercial airplane division, said in a memo to employees. …read more […]
President Donald Trump said on Wednesday his tariffs on foreign steel are saving the U.S. industry and he predicted that in the future American steelmakers will mostly face domestic competition, the Wall Street Journal reported.
Expanding markets and increased consumer acceptance drive the service’s growth. …read more […]
Toyota Motor Corp is likely to make 120,000 more cars a year in the Chinese port city of Tianjin as part of a medium-term strategy that’s gathering pace as China-Japan ties improve, said four company insiders with knowledge of the matter.
Intel’s second-largest business delivered a phenomenal financial performance in Q2. …read more […]
The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc (TSLA.O) regarding Chief Executive Elon Musk’s plan to take the company private and his statement that funding was “secured,” Fox Business Network reported on Wednesday, citing sources. The electric carmaker’s shares fell as much as 4 percent but cut their losses after Goldman Sachs Group Inc (GS.N) said it was dropping equity coverage of Tesla because it is acting as a financial adviser on a matter related to the automaker. Investors viewed the Goldman statement as confirming a tweet from Elon Musk on Monday about working …read more […]
The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding Chief Executive Elon Musk’s plan to take the company private and his statement that funding was “secured,” Fox Business Network reported on Wednesday, citing sources.
Cisco Systems Inc. gave a bullish forecast for the current quarter, signaling confidence that an overhaul of its computer-networking products will continue to boost corporate demand. Cisco, the maker of equipment that directs most of the world’s internet data traffic, also said demand around the world and across all of its products had lifted earnings in the July quarter above average projections. Chief Executive Officer Chuck Robbins is remaking Cisco into a provider of networking software and services, aiming to decrease its traditional dependence on high-priced custom machines. …read more […]
Here are the highlights for investors from the retailing titan’s latest earnings conference call. …read more […]
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