• Firefighter killed battling largest blaze in California history
Firefighter killed battling largest blaze in California history

The Mendocino Complex is actually two blazes burning so close together that authorities are attacking them as one, a common practice at Cal Fire. As many as 3,100 personnel are working the fire. Meanwhile, the Ranch Fire continued its spread across another 13,000 acres leading into Monday morning. The fires had burned a combined total of 325,226 ac...

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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

August 7, 2018 - Musk surprises investors by using Twitter to announce he is considering taking Tesla private at $420 per share, adding "Funding secured". San Francisco attorney Joe Tabacco expressed his view that shareholders may actually have a viable claim against Tesla , according to Bloomberg .

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

Andrew Craig Brunson, an evangelical pastor from Black Mountain, North Carolina, arrives at his house in Izmir, Turkey, July 25, 2018. The confrontation between Washington and Ankara has largely been attributed by the U.S. European stocks fell in early trade on Monday , with a pan-European index of shares down half a percent and the banking stoc...

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  • Asia shares dip as Turkey's lira tanks
Asia shares dip as Turkey's lira tanks

Last week, a Turkish delegation went to Washington and met American counterparts but there was no breakthrough. Turkey's economy has been in dire straits since mid-2017, largely thanks to extremely high inflation rates, trade tariffs from the USA and government borrowing from foreign countries.

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  • Musk: Saudis pushed for 2 years to take Tesla private
Musk: Saudis pushed for 2 years to take Tesla private

Since Musk first tweeted on Tuesday that he was considering taking Tesla private at $420 a share and that he had "funding secured", he's offered no evidence to back up the statement. In laying out why he is considering taking Tesla private, Musk pointed in part to shorts. Public Investment Fund of Saudi Arabia was founded to invest on behal...

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  • ‘Suicidal’ mechanic steals plane from Seattle airport
‘Suicidal’ mechanic steals plane from Seattle airport

According to the unverified Twitter profile of the Pierce County Sheriff's Department, the plane was stolen by a mechanic from an unknown airline company, based on preliminary information. He told air traffic controllers: "Those guys will rough me up if I try and land there". Brad Tilden, the chief executive of Alaska Air Group, said the Federa...

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  • Trump's latest trade tiff with China has Texans again bracing for pain
Trump's latest trade tiff with China has Texans again bracing for pain

The US decision to levy 25 per cent tariffs on the same value of Chinese goods is "very unreasonable", and China will have to retaliate to protect its rightful interests and the multilateral trading system, China's Ministry of Commerce said in a statement .

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  • What If Tesla Goes Private?
What If Tesla Goes Private?

At US$420 per share, a deal would be worth US$72 billion (S$98 billion) overall. Musk's tweet came nearly simultaneously with a new report from the Financial Times that revealed for the first time that Saudi Arabia's Public Investment Fund has been quietly buying up about five per cent of the electric vehicle company over the last few m...

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  • Facebook asks major US banks to share customer data
Facebook asks major US banks to share customer data

They haven't been entirely successful, the Journal added, with at least one bank (JPMorgan) declining due to privacy concerns. The statement, obtained by Ars Technica , went on to portray it as common practice for all companies with commerce business to "partner with banks and credit card companies to offer services like customer chat or account...

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  • United States jobs growth slows more than expected in July
United States jobs growth slows more than expected in July

Despite many businesses' trouble finding qualified workers, they are still hiring and looking outside traditional pools for talent. An increase in wages that occurred in June also could help the housing market even though it remains below the pre-recession rate of growth, he added.

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  • Iran imports plane parts before USA sanctions kick in
Iran imports plane parts before USA sanctions kick in

Videos on social media in recent days have shown people marching in the streets of several cities, chanting radical slogans. The US is now also pushing Pyongyang to scrap its nuclear capabilities after President Donald Trump and North Korea's leader Kim Jong Un agreed a vague commitment to "denuclearisation of the Korean Peninsula" at their lan...

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  • Carney: No-deal Brexit 'highly undesirable'
Carney: No-deal Brexit 'highly undesirable'

Referring to last year's stress tests on the banking system , Carney said: "We've put the banks through the wringer to make sure that they have the capital". Mark Carney has warned that the possibility of a no-deal Brexit is "uncomfortably high" and will lead to higher prices, as Theresa May prepares to meet the French president, Emmanuel Macro...

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  • Elon Musk's apology to analysts he scorned sends Tesla stock soaring
Elon Musk's apology to analysts he scorned sends Tesla stock soaring

But Tesla shares actually rose by about 4 percent on speculation it will turn profitable before the year's end. Tesla stock soared in after-hours trading, climbing briefly to a full 11 percent gain before relaxing to a bit over 9 percent, at $329, up from $300.84 at the close of regular trading hours.

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  • United States hits Turkey with sanctions over American pastor's detention
United States hits Turkey with sanctions over American pastor's detention

The Turkish Lira slid to a record low beyond 5 to the dollar and stocks fell on August 2, after the United States imposed sanctions on two Turkish ministers over the trial of a USA pastor accused of backing terrorism. The row over Brunson escalated last week when Pence, like the pastor an evangelical Christian, said Turkey would face "signi...

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  • European Union to buy ‘a lot of soybeans’
European Union to buy ‘a lot of soybeans’

Gov. John Kasich (KAY'-sik) says Trump's imposition of tariffs on products from such allies as Canada under national security grounds was "completely absurd", and that now the president is resorting to "farm welfare" when USA farmers want trade.

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  • Facebook Shareholders Sue Company as Stocks Tumble
Facebook Shareholders Sue Company as Stocks Tumble

According to the complainant, the marketplace was "shocked" when "the truth" began to emerge on Wednesday from the Menlo Park, California-based company. 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 restrai...

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  • Facebook stock drops 20% wiping away a record $120 billion
Facebook stock drops 20% wiping away a record $120 billion

That is believed to be the largest one-day drop of any company on the American stock market. " Facebook's Chief Financial Officer warned that revenue growth would "decline by high single-digit percentages" until 2019". - well below Thursday's level. " Facebook has also been sucked into the probe into alleged Russian meddling in the 2016 president...

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  • Thunderstorm warning issued for Lincolnshire
Thunderstorm warning issued for Lincolnshire

It's not just the United Kingdom that has been treated to some record breaking temperatures this summer. Met Office forecaster Steven Keates said: "The outlook for the next 30 days is more of the same". The RAC said it was expecting breakdowns to be about 15-20% higher than they would normally expect for late July, adding that breakdowns were a...

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  • Saudi Arabia Halts Oil Shipments as Yemeni Rebels Attack Tankers
Saudi Arabia Halts Oil Shipments as Yemeni Rebels Attack Tankers

The strait lies between Yemen and East Africa and an important shipping route for oil from the Arabian Peninsula to Europe, via the Suez Canal . Saudi Arabia accuses regional arch-foe Iran of supplying missiles to the Houthis, something Tehran and the Houthis deny.

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  • Trump secures concessions to avoid US-EU trade war
Trump secures concessions to avoid US-EU trade war

After a meeting with Juncker at the White House on Wednesday, Trump agreed to refrain from imposing vehicle tariffs while they start talks on cutting other trade barriers. Mr. Trump also said the USA and European Union would work "closely together" to reform the World Trade Organization and would launch an "executive working group" to implement...

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  • Facebook (FB) Stock Sinks as Revenue Misses Expectations
Facebook (FB) Stock Sinks as Revenue Misses Expectations

Facebook registered daily active users (DAUs) of 1.47 billion for the month of June this year which was an increase of 11 per cent year-over-year- marking slow growth rate in the second quarter of the year. "It just seems like the magnitude is beyond anything we've seen". "Overall, this is a critical year for Facebook ". For now, Facebook ...

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  • Former FCA CEO Sergio Marchionne dead at 66
Former FCA CEO Sergio Marchionne dead at 66

On Wednesday, Exor NV, the holding company of Fiat's founding Agnelli family, confirmed the passing of Marchionne at the age of 66. "Unfortunately, what we feared has come to pass. As his professional life progressed, Marchionne returned to Europe where his success in restructuring ailing companies saw him tasked with turning around Fiat.

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  • Earnings of Google parent Alphabet top Wall Street expectations
Earnings of Google parent Alphabet top Wall Street expectations

Alphabet's share price rose over 6% in after hours trading as investors shrugged off the long-term impact of the European Union fine. The European Commission fined Google for monopoly with its Android operating system, accusing it of violating the EU competition rules.

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  • Tariffs are greatest: Donald Trump
Tariffs are greatest: Donald Trump

After Trump hit China with tariffs, they responded with a 179 percent retaliatory tariff on us sorghum. The administration's plan will rely on commodity support programs in the farm bill as well as the Agriculture Department's authority to stabilize farmers during times of turmoil, according to a report in Politico.

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  • NK seeks breakthrough by dismantling missile facilities
NK seeks breakthrough by dismantling missile facilities

Kim Jong-Un and Donald Trump met in Singapore in June. This July 22, 2018, satellite image released and annotated by 38 North on Monday, July 23, 2018, shows what the USA research group says is the dismantled engine test stand at the Sohae launch site in North Korea.

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