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The Times story was taken out of context and factually wrong, the spokesman said. Earlier Friday, Ma said he could " retire earlier " during a conversation with Bloomberg about Bill Gates' career. Ma started Alibaba in 1999 in his apartment in the Chinese city of Hangzhou and is now among the richest people in the world. Ma also keeps a high worldwide profile, frequently inviting global leaders to the company's Hangzhou headquarters.
  • Trump's call with Mexican president briefly delayed due to technical difficulties

    Trump's call with Mexican president briefly delayed due to technical difficulties

    Money

    Instead, the Mexican President Enrique Peña-Nieto, who joined Trump in the Oval Office by speakerphone, emphasized three times the importance of Canada joining the burgeoning agreement. Higher labor standards: The new deal would require that 40% to 45% of auto parts in cars sold be made by workers earning at least $16 United States dollars per hour.
  • All eyes on Jackson Hole with the Fed’s Economic Policy Symposium

    All eyes on Jackson Hole with the Fed’s Economic Policy Symposium

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    The Federal Reserve's steady interest rate hikes are the best way to protect the USA economic recovery and keep job growth as strong as possible and inflation under control, Fed Chair Jerome Powell said on Friday in a high-profile endorsement of the central bank's current approach to policy.
  • Verizon Throttled Data During Deadly Wildfire in California

    Verizon Throttled Data During Deadly Wildfire in California

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    In the wake of a customer-service backlash involving California firefighters, Verizon is apologizing for slowing down the data speeds of first-responders - and says it will begin offering emergency workers a new unlimited data plan to avoid future mishaps.
  • Oil price leaps to $74 per barrel as U.S. inventory drops

    Oil price leaps to $74 per barrel as U.S. inventory drops

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    Crude oil prices were in rally mode before the start of US trading after signs of another drain on domestic oil and gasoline inventories. Oil prices also drew support from the prospect of a drop in crude exports from Iran in response to new USA sanctions on the No.
  • Sears to close in College Station

    Sears to close in College Station

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    One location in MI is on the chopping block: Sears at the Jackson Crossing Shopping Center off I-94 in Jackson. Liquidation sales at the stores may start as early as Thursday, Aug. The company has already closed hundreds of stores and shaved more than $1 billion from annual expenses. The company is now headquartered in Hoffman Estates, Ill.
  • China trade war escalates as both sides announce new tariffs

    China trade war escalates as both sides announce new tariffs

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    Beijing began implementing the new tariffs on Thursday, when the United States said it would begin collecting extra duties in retaliation for what it claimed were unfair Chinese trade practices. China's Commerce Ministry said in Beijing that it has filed a complaint with the World Trade Organization over the latest round of US tariffs. CGTN did not immediately respond to a request for comment about the removal.
  • Donald Trump Asks SEC For Half-Year Earnings Report For Public Companies

    Donald Trump Asks SEC For Half-Year Earnings Report For Public Companies

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    America's 4,300 public companies publish financial statements every three months under a rule from the Securities and Exchange Commission (SEC) that dates back to 1970. private. "She said, two times a year reporting, not quarterly". "One of the inherent issues with quarterly reporting is that it does tend to drive management to make decisions geared toward short-term metrics, which is not always in everyone's best interest".
  • Trump Says U.S. Won't Pay Turkey for Pastor's Release

    Trump Says U.S. Won't Pay Turkey for Pastor's Release

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    A senior United States official told CNN that in exchange for Turkey's release of Brunson, Israel agreed to release Ebru Ozkan, a 27-year-old Turkish woman held in Israel on suspicion of aiding Hamas, the Palestinian militant group that controls Gaza.
  • Turkey’s lira steadies amid Erdogan’s move to boycott USA electronic products

    Turkey’s lira steadies amid Erdogan’s move to boycott USA electronic products

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    Erdogan's spokesman praised the move on Twitter, tweeting: "The fundamentals of the Turkish economy are robust and Turkey will emerge stronger from this process", Ibrahim Kalin wrote. The row with Washington has helped drive the lira to record lows, with the currency losing more than 40 per cent of its value against the dollar this year, prompting central bank liquidity moves to support it.
  • Rupee breaches 70/$ as investors turn jittery over Turkish currency turmoil

    Rupee breaches 70/$ as investors turn jittery over Turkish currency turmoil

    Money

    Economic Affairs Secretary Subhash Chander Garg said external factors may ease going forward. Asian currencies except Japanese yen trade on a weaker footing . Salil Datar, CEO and executive director, Essel Finance VKC Forex, said, "The current drop in Rupee is mainly due to the crisis in Turkey". "Given the uncertainty surrounding Turkey crisis and strength in the dollar index, importers are buying dollars aggressively".
  • Saudi Arabia might be interested in helping Tesla go private

    Saudi Arabia might be interested in helping Tesla go private

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    Musk added that the Saudi Arabian sovereign wealth fund "has approached me multiple times" starting in early 2017 about taking Tesla private. In a blog post that further seeks to make the case that Tesla should go private, Musk attempted to address his critics who have attacked his tweet and questioned whether he may have engaged in stock manipulation or securities fraud.
  • Next Round of Tariffs Set

    Next Round of Tariffs Set

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    Additional duties on the USA products in the first part of the list, worth 34 billion US dollars, came into force on July 6. In the U.S., a few natural gas project developers are eyeing China as a potential market to export their future LNG cargoes and some of them have already signed framework agreements with Chinese buyers.
  • Turkish Lira Plummets; Erdogan Pledges Economic War

    Turkish Lira Plummets; Erdogan Pledges Economic War

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    Turkish President Recep Tayyip Erdogan warned the USA on Saturday that Turkey does not respond to threats, a day after President Donald Trump announced he would double the rate of tariffs on Turkish metals. Following the tweet, Turkey responded by imposing duties on $1.8 billion in USA goods including coal and paper. In the first three months of 2018, Turkish steel exports to the United States fell almost 50 percent over the same period in 2017, making it the only top-10 source ...
  • Trump going ahead with taxes on $16B in Chinese imports

    Trump going ahead with taxes on $16B in Chinese imports

    Money

    China's commerce ministry said Wednesday it will impose 25% tariffs on $16 billion worth of USA imports starting August 23, Reuters reported . The announcement is the latest round in a tit-for-tat trade conflict between the world's two largest economies which has left global markets on edge.
  • India's Top Refiner Buys US Oil To Partially Replace Iranian Crude

    India's Top Refiner Buys US Oil To Partially Replace Iranian Crude

    Money

    Under the arrangement, Iran's oil payments were deposited into accounts in oil-importing countries and used by Tehran to buy goods. Net long positions in Brent and WTI were cut from a peak of 1.093 billion barrels in mid-April to 790 million barrels by the end of the first week in June, and have changed relatively little since then.