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With Cohen plea, GOP faces familiar Trump quandary With Cohen plea, GOP faces familiar Trump quandary
- August 23, 2018

Get the Monitor stories you care about delivered to your inbox. He told a federal court in Manhattan that Mr Trump directed him to arrange payments ahead of the 2016 presidential election to silence two women who said they had affairs with Mr Trump. (more...)
Alarm over Donald Trump complaints about his pick for US Fed chair Alarm over Donald Trump complaints about his pick for US Fed chair
- August 22, 2018

Trump has also publicly criticized Powell several times this summer and reportedly did so again Friday at a GOP fundraiser in NY, saying he thought the chairman would support "easy money". The president spoke to Reuters in an exclusive interview, the newswire said. A Fed spokesperson declined to comment. The central bank is expected to raise rates at least two more times this year, citing a solid economy with fewer Americans out of work. (more...)
Ex-Trump lawyer Michael Cohen pleads guilty in hush-money scheme Ex-Trump lawyer Michael Cohen pleads guilty in hush-money scheme
- August 22, 2018

Cohen struck a plea deal to federal charges including campaign-finance fraud stemming from hush money payments to porn actress Stormy Daniels and ex-Playboy model Karen McDougal . Trump did not mention Cohen at a rally in West Virginia hours later. Questioned by the federal judge, Cohen said he had paid sums of $130,000 and $150,000 each to two women who claimed they had affairs with Trump, acting at his boss's request, in a bid to buy their silence "with the goal of influencing the ... (more...)
Defiant Erdogan casts Turkey currency crisis in religious, patriotic terms Defiant Erdogan casts Turkey currency crisis in religious, patriotic terms
- August 22, 2018

Erdogan stopped short of directly naming any countries or institutions, but he has, in the past, blamed a shadowy "interest rate lobby", Western ratings agencies and financiers. The lira weakened to 6.1100 to the dollar at 0843 GMT, from a close of 6.0100 on Friday. The German finance minister said on Monday the Turkish currency crisis posed an additional risk to Germany's economy. (more...)
French oil major Total backs out of Iran as U.S. sanctions bite French oil major Total backs out of Iran as U.S. sanctions bite
- August 22, 2018

On August 20 Iran's oil minister announces Total is quitting its multi-billion dollar gas project in the country. The renewed US sanctions took effect in August, after America's pullout from the nuclear deal in May. The shift demonstrates that China, Iran's biggest oil customer, wants to keep buying Iranian crude despite the sanctions, which were reimposed after the United States withdrew in May from a 2015 agreement to halt Iran's nuclear programme. (more...)
Dollar dented by Trump's Fed comments Dollar dented by Trump's Fed comments
- August 22, 2018

Trump, in an interview, added "I should be given more help by the Fed" through more accomodative monetary policy. The Board has always been careful about maintaining independence from the political branches of government and that is unlikely to change notwithstanding the fact that we now appear to have a President who has no qualms about violating the traditional norms of American politics on a regular basis. (more...)
UNIAN: Trump names conditions for Russian Federation sanctions lift UNIAN: Trump names conditions for Russian Federation sanctions lift
- August 22, 2018

President Trump on Monday said he would consider lifting sanctions on Russian Federation if Moscow were to take steps towards working with the USA on issues like Russian Federation and Ukraine. I haven't thought about it. But A. Wess Mitchell, the assistant secretary of state for European and Eurasian affairs, voiced urgent concern that Putin essentially is attacking the U.S. (more...)
Fed criticism drives dollar to eight-week low against yen
- August 22, 2018

In July, the president bashed the rate hikes during an interview with CNBC but also praised Powell as a good person. Trump has, however, made reducing US trade deficits a priority, and the combination of rising interest rates and a strengthening dollar poses risks for export growth. (more...)
Old contact lenses add to microplastic pollution Old contact lenses add to microplastic pollution
- August 21, 2018

The research was presented on Sunday at the American Chemical Society's annual meeting in Boston. Around 45m people wear contacts in the USA, while rates in other countries vary, with between 5 and 15% of the population in Europe using them. (more...)
Gatwick Airport put flight info on whiteboards after screens all broke Gatwick Airport put flight info on whiteboards after screens all broke
- August 21, 2018

Vodafone provides the service, and said a damaged fibre cable had caused the information boards to stop working. Airport staff had to write out flight information on whiteboards instead . Gatwick airport was plunged into chaos today when staff were forced to use old-fashioned whiteboards to direct thousands of passengers towards flights. (more...)
PepsiCo buys fizzy drinks maker SodaStream for $3.2bn PepsiCo buys fizzy drinks maker SodaStream for $3.2bn
- August 21, 2018

He added: "PepsiCo is finding new ways to reach consumers beyond the bottle". It reported a 31% year-over-year jump in revenues to $172m (£134m), an 89% leap in operating profit to £32m (£25m) and an 82% climb by net profit to £26m (£20m). (more...)
Shots fired at United States embassy in Turkey amid diplomatic crisis Shots fired at United States embassy in Turkey amid diplomatic crisis
- August 20, 2018

Ankara and Washington are locked in a dispute over Turkey's detention of an American pastor on terror-related charges. There were no injuries, but a window in a security cabin was reportedly hit. U.S. President Donald Trump doubled the tariffs on aluminium and steel tariffs from Turkey, prompting Ankara to sharply hike tariffs on several American products. (more...)
Musk's SpaceX could help fund take-private deal for Tesla Musk's SpaceX could help fund take-private deal for Tesla
- August 20, 2018

But the paper said he later told them through a spokesperson that Antonio Gracias, Tesla's lead independent director, had in fact contacted him to discuss the Twitter post. The proposal appears tenuous, with one analyst putting the chance at less than 50 percent. The Securities and Exchange Commission and some plaintiffs lawyers will be grilling him about the honesty of his production forecasts and of last week's tweet in which he said the funding for his buyout was "secured". (more...)
Our crypto business is dead and it’s never coming back — NVIDIA Our crypto business is dead and it’s never coming back — NVIDIA
- August 19, 2018

Nvidia's stocks are now 4.8% down at the time of writing. Intel Corp. has been pitching both its own mainstream central processing units for at least some machine learning workloads, and it has picked up a number of chip companies in recent years to do more specialized AI work such as computer vision. (more...)
Explainer: It will be tough for Trump's SEC to overhaul reporting rules Explainer: It will be tough for Trump's SEC to overhaul reporting rules
- August 19, 2018

According to Mr Trump , top business leaders from around the world claimed that removing the administrative burden of such regular reporting would boost the U.S. The most recent data from the United Kingdom shows that only 57 of the companies in the benchmark FTSE 100 index were still issuing quarterly reports as of September 2017, according to the Investment Association. (more...)
Google not close to launching censored search engine in China Google not close to launching censored search engine in China
- August 19, 2018

But there's reason to think the employees might get their way - after they protested the company's work with the U.S. Department of Defense (DoD) on Project Maven back in April, Google announced plans to not renew the contract after it expires in 2019 (though it wouldn't go so far as to swear off all military contracts ). (more...)
Tesla Receives Subpoena Over Elon Musk Privatisation Tweets Tesla Receives Subpoena Over Elon Musk Privatisation Tweets
- August 18, 2018

The tweet may have violated U.S. securities law if it turns out to be untrue, lawyers have said . Last Wednesday, the Journal reported that the SEC began initial inquiries into Musk's tweets. At the center of the controversy is what Musk meant when the chief executive officer tweeted August 7 that he had the funding for a buyout, without providing specifics to back up the claim. (more...)
Tesla Stock Drops As Elon Musk Unloads On 'Excruciating' Year Tesla Stock Drops As Elon Musk Unloads On 'Excruciating' Year
- August 18, 2018

Tesla bulls are counting on Musk to exponentially raise production, leading to long-term profits. J.P. Eggers, associate professor at New York University's Stern School of Business, agreed, saying it is likely there are many other things Musk would rather spend his time on than Model 3 production goals. (more...)
Turkish lira weakens as USA warns of new sanctions over detained pastor Turkish lira weakens as USA warns of new sanctions over detained pastor
- August 18, 2018

He has been held in Turkey for two years and accused by local prosecutors of "terrorist" ties to the Islamist Gulen movement, which has been blamed for a failed coup in July 2016. 2, 2018. The United States imposed sanctions on two Turkish government ministers, and last week Washington raised tariffs on Turkish metal exports causing the lira currency to drop. (more...)
Turkey reportedly ready to free pastor Andrew Brunson, as Trump demanded Turkey reportedly ready to free pastor Andrew Brunson, as Trump demanded
- August 18, 2018

Brunson, an evangelical Christian pastor originally from North Carolina but a longtime resident of Turkey , was accused by the Turkish government of terrorist involvement and playing a role in the Turkish military's 2016 attempted coup to overthrow the government. (more...)