The Australian share market looks set to open in positive territory despite weak leads from US and European on the back of concerns about the Turkish currency. On Friday the Turkish lira fell by more than 14 per cent and hit a record low against the US dollar rattling global markets. The three major US indexes closed lower as the Dow erased its gains for the month. The Nasdaq snapped an 8 day winning streak. Bank shares led the downward charge with Bank of America, Morgan Stanley and Goldman Sachs all shedding at least 1 per cent. Tech shares also dropped with Facebook, Amazon and Alphabet all lower. The Turkish lira has plummeted for a number of reasons including the central bank's refusal to raise interest rates to support it as well as a recent ramp up in U.S. sanctions. On the commodities front, global oil prices rose on Friday as U.S. sanctions against Iran looked set to tighten supply while gold prices stabilized, with the crisis engulfing Turkey's lira boosting the US dollar. Iron Ore fell by around US65 cents this morning the futures for iron ore are suggesting a 0.9% fall. The Australian dollar dropped more than a cent over the weekend to levels last seen in early 2017 following concerns about the Turkish currency. US economic news: Both headline and core inflation rose by 0.2 per cent in July as expected. Economists say the steady increase in inflation pressures keeps the Federal Reserve on track to gradually raise interest rates. Hourly and weekly earnings decreased 0.2 per cent over the one month period and increased only fractionally on the same time last year. Local economic news: On Monday the Reserve Bank releases the estimates of credit and debit card lending for June, on Tuesday the NAB Business survey is due, on Wednesday all eyes will be on the Wage price index. An increase in the minimum wage and new Enterprise Bargaining Agreements are expected to push wages up by around 0.6 per cent during the quarter. Also out on Wednesday the Westpac and ...
Theresa May has been told her Brexit plans need to be "reworked" as time runs out to reach a deal with the European Union. European Council president Donald Tusk said the Prime Minister's Chequers blueprint was a "welcome evolution" in the UK's approach, but major issues remained to be resolved, including avoiding a hard border in Ireland and the future trading relationship between Britain and the EU.
U.K. Prime Minister Theresa May gives a statement in London about Brexit negotiations which she said are "at an impasse." She also repeated her warning that Britain must be prepared for a "no-deal" scenario.
In a League of Their Own follows the fortunes of the first all-Aboriginal Australian Rules football team to enter a mainstream AFL-affiliated competition, through their first bone-jarring season. After 30 years of running their own competition on a remote island community north of Darwin, the Tiwi Bombers have finally been accepted into the AFLNT to compete in the Big League.
Theresa May has called on the EU to come forward with fresh proposals on Northern Ireland and trade, warning that without a move from Brussels it will not be possible to make further progress in Brexit talks. Speaking in 10 Downing Street a day after the humiliating rejection of her Brexit plans at the EU summit in Salzburg, the Prime Minister recognised that negotiations had reached an "impasse".
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Troops would be replaced with military contractors working alongside Afghan forces says Mr Prince.
17-year-old Elijah Kunu says he's regarded as the best boat mechanic in Makoko, Lagos.
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The president says his embattled Supreme Court nominee is "one of the finest people".
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Simon Calder looks at what travelling to mainland Europe from the UK could be like post-Brexit.
90 percent of Morocco's agricultural exports come from Souss-Massa. But many businesses here are struggling with the effects of climate change. They're taking out insurance to protect themselves against the consequences of extreme weather.
Former U.S. Energy Secretary Ernest Moniz discusses the damage caused by Hurricane Harvey and the nuclear proliferation threat with Bloomberg's David Gura.
Astronaut Major Tim Peake has said it is too early to tell whether this summer's heatwave is part of a global trend towards warming temperatures or a one-off.
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