The US Treasury sanctioned a Turkish bank for alleged transactions with Iran's IRGC, as Tesla's stock fell after a disappointing Cybercab update.
Published
The US Treasury Department sanctioned a Turkish bank, Golden Global Yatirim Bankasi Anonim Sirketi, for allegedly conducting transactions for Iran's Islamic Revolutionary Guard Corps' Quds Force. The action, which also targeted two Turkey-based subsidiaries, follows President Donald Trump's hyping of a broader sanctions plan as an "economic D-Day" against Iran, though CNBC reports few steps have been taken to implement that larger plan.
In market news, Tesla's stock dropped after its long-awaited Cybercab update failed to impress investors. The presentation was described as having "underwhelmed" Wall Street, per CNBC, leading to a negative reaction in the company's share price.
Media personality Maria Bartiromo has publicly disputed reports that she was fired from her position at Fox News and Fox Business. The longtime host is contesting the claims of her termination from the cable networks.
Commodities are seeing a significant rally, with the copper price heading for a 10-week winning streak, per Gold & Metals. The metal's price is closing in on a record high, marking a sustained period of growth.
In corporate leadership news, Apple has a new successor in line for CEO. John Ternus, a product engineer who has spent 25 years at the company, is positioned to take over from Tim Cook, per the Financial Times.
Sources: 1. CNBC: U.S.