Late News This information from last news on the day

This stock market metric has never been further out of whack

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Turkey may resume talks with Greece, warns against EU sanctions By Reuters

© Reuters. FILE PHOTO: Turkish seismic research vessel Oruc Reis sails in the Bosphorus in Istanbul

ISTANBUL (Reuters) – Turkey and Greece could soon resume talks over their contested Mediterranean claims but European Union leaders meeting this week will not help if they threaten sanctions, Turkey’s presidential spokesman said on Sunday.

The NATO members and neighbours have been locked in a bitter dispute over the extent of their continental shelves in the eastern Mediterranean. Tensions flared last month when Turkey sent a vessel to survey for gas and oil in contested waters.

European Union member Greece condemned the move as illegal and pressed, along with Cyprus, for a strong response from EU leaders when they meet on Thursday.

Ankara withdrew the Oruc Reis vessel last week. It described the move as a routine maintenance stop but later said it opened up the chance for diplomacy to reduce tensions with Athens.

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This fintech is now more valuable than Robinhood

Move over, Robinhood—Chime is now the most valuable U.S.-based consumer fintech.

According to CNBC, Chime, a so-called neobank that offers branchless banking services to customers, is now worth $14.5 billion, besting the price tag of massive retail trading platform Robinhood at around $11.2 billion, as of mid August, per PitchBook data. Business Insider also reported about the possible new valuation earlier this week.

Chime locked in its new valuation via a Series F funding round to the tune of $485 million from investors including Coatue, ICONIQ, Tiger Global, Whale Rock Capital, General Atlantic, Access Technology Ventures, Dragoneer, and DST Global, per CNBC.

The fintech has seen massive growth over its seven-year life. Chime first reached one million users in 2018, and has since added millions of customers, although the company has not said how many users it currently has in total. Chime provides banking services through a mobile … Read More

Ethiopia files terrorism charges against leading opposition activist By Reuters

© Reuters. FILE PHOTO: Jawar Mohammed, an Oromo activist and leader of the Oromo protest speaks during a Reuters interview at his house in Addis Ababa

ADDIS ABABA (Reuters) – Ethiopia has filed terrorism charges against a prominent media mogul and opposition politician from the Oromo ethnic group, Jawar Mohammed, the attorney general’s office said on Saturday.

Jawar, founder of the Oromiya Media Network and a member of the Oromo Federalist Congress party, was arrested in June amid the widespread unrest that followed the assassination of popular Oromo musician Haacaaluu Hundeessaa.

Jawar and 22 other activists, including Oromo opposition leader Bekele Garba, face charges relating to the violation of anti-terrorism laws, telecom fraud laws and firearms laws, the attorney general’s office said in a statement on social media.

Those charged include journalists and scholars. Bekele is a senior leader of the Oromo Federalist Congress.

They will appear in court on

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As investors pull back, this Big Tech darling is flirting with bear territory

This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here.

Happy Friday, everyone. Can stocks stage a comeback to avert another down week? It’s not looking promising.

Asia is higher, Europe is mixed and Nasdaq futures are off their lows. That’s good news, particularly for tech bulls, as the Nasdaq flirts with a new correction and some FAAMG stocks even threaten to fall into bear territory.

Let’s check in on the action.

Markets update

Asia

  • The major indexes are solidly in the green with Shanghai leading the way, up 2%.
  • President Trump has yet to give the green-light (nor has Beijing, for that matter) to the OracleTikTok tie-up, but there’s already talk of an IPO as early as next year.
  • Coronavirus hit a grim toll in the past day, topping 30
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China aims to operate regular space flights by 2045, official says By Reuters


BEIJING (Reuters) – China aims to set up a space programme operating thousands of flights a year and carrying tens of thousands of tons of cargo and passengers by 2045, state news agency Xinhua quoted an official as saying on Friday.

China is trying to catch up with Russia and the United States to become a major space power by 2030.

Bao Weimin, a senior official at China Aerospace Science and Technology Corp., told a conference that the planned space flight system would be able to meet commercial demands, according to the Xinhua report.

He also said China is aiming for breakthroughs in the core technology needed and for the building of a testing system by 2025.

China has taken steps in recent years to make space flights more economical. It is developing reusable rockets such as Long March 8 and 9, and it successfully launched and landed a reusable

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