This week is going to be a very interesting week with so many news coming out to the market that can greatly affect the month of August. Bulls are fighting really hard to stay ahead and bears could be potentially lurking around the corner. Will this week spark a catalyst to tilt one of them […]
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BBC News – Business- UK inflation rate rises for first time since NovemberHigher transport costs sent inflation up to 2.5% in July in the first increase since November.
- RBS comes bottom of bank league tablesFewer than half of Royal Bank of Scotland customers would recommend it to friends and family.
- Turkey issues retaliatory tariffs on US importsAnkara says the rises were ordered after "attacks on the Turkish economy" by the US.
- South Korea to ban some BMW vehicles over engine firesThe government wants the cars off the roads until they have been safety checked by BMW.
- Split generationRising house prices have divided young people into property "haves" and "have-nots".
- Chief executive pay jumps 11% to almost £4m last yearChief executive pay rose much faster than for the wider workforce in 2017, a report has claimed.
- Amazon's one-day delivery ad banned as 'misleading'The UK advertising regulator received 280 complaints about the online giant's one-day delivery claim.
- Rail fares rises: Grayling pleads with unions and train firmsChris Grayling asks the industry to use a lower inflation measure for future fare and wage increases.
- Card payment problems at Marks & SpencerThe retailer says it's having a problem accepting card payments in a quarter of its stores.
- Tinder's founders and former boss sue dating app ownersTinder's owners are accused of undervaluing it, cheating executives out of shares worth billions.
- UK inflation rate rises for first time since November
- Reuters: Business News
- Turkey doubles tariffs on some U.S. imports; lira ralliesTurkey 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 supporting the currency.
- SEC subpoenas Tesla over Musk's tweets: Fox NewsThe U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding its privatization plans and Chief Executive Officer Elon Musk's statement "funding secured", Fox News tweeted https://twitter.com/CGasparino/status/1029740099339268096 on Wednesday, citing sources.
- From blue lipstick to Facebook Live, home shopping networks refine their pitchHSN, once known as the Home Shopping Network, is getting an image makeover.
- Uber told by investors to sell self-driving unit: The InformationInvestors have told Uber Technologies Inc [UBER.UL] 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 Wednesday, citing an unnamed person familiar with the issue.
- Coca-Cola bets on Kobe sports drink in fight with Gatorade(In this August 14 story corrects paragraph 2 to show Powerade is not ceding market share to Gatorade)
- Turkey, trade worries hit Wall Street againU.S. stock indexes fell on Wednesday in a broad-based decline, hurt by concerns over the strong dollar and Turkey's currency crisis, as well as the trade tensions with U.S. trading partners that have dominated the first half of 2018.
- U.S. retail sales, manufacturing data bolster third-quarter economic outlookU.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.
- U.S. business inventories edge up in JuneU.S. business inventories barely rose in June and the inventory-to-sales ratio fell to more than a 3-1/2-year low, suggesting businesses would need to ramp up the accumulation of stock, which would boost economic growth in the third quarter.
- Turkish lira undershooting fair value: global banking groupThe Turkish lira is significantly below fair value at the moment and should strengthen over the next one to two years as Turkey's economy slows and exports gain strength, improving the country's balance of payments outlook, economists for the Institute of International Finance said on Wednesday.
- Macy's raises full-year forecast, investors lock gainsMacy's Inc on Wednesday reported a surprise rise in quarterly same-store sales and raised its full-year forecasts, but its shares fell 9 percent with some analysts attributing the drop to profit taking following the stock's run-up this year.
- Turkey doubles tariffs on some U.S. imports; lira rallies