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Turkish Lira Tumbles as Investors Panic

Turkey edged closer yet to a full-blown financial meltdown. Ahead of a much-anticipated public address by President Recep Tayyip Erdogan, the lira plunged more than 11 percent to a fresh record, headed for its worst week since 2001. Speaking outside a mosque earlier today, Erdogan told...

Boris Johnson Attacks May’s ‘Dithering’ Over Brexit

Boris Johnson, the former foreign secretary, attacked Prime Minister Theresa May’s “dithering” over Brexit negotiation, dismissing her plan as “enforced vassalage” as the U.K. remains under some European Union rules. Johnson, a thorn in May’s side when he was in office, used a parliamentary convention to...

The Aramco Accounts: Inside the World’s Most Profitable Company

It’s a cornerstone of the global economy, producing and selling 10 million barrels of oil every day. Yet for four decades the financial performance of Saudi Aramco has been one of the biggest secrets in global business, limited to a tiny circle of executives, government officials and...

Frankfurt Is the Big Winner in Battle for Bankers

Frankfurt has emerged as the biggest winner in the fight for thousands of London-based jobs that will have to be relocated to new hubs inside the European Union after Brexit. Morgan Stanley, Citigroup Inc., Standard Chartered Plc and Nomura Holdings Inc have picked the German city...

Irish Border Spat Complicates Brexit Transition Talks

The U.K. has significant ground to make up on the Irish border issue before next week’s summit where it aims to clinch a deal on a Brexit transition period, European diplomats said. While both sides are keen have a deal signed off by EU leaders at...

BOE’s Carney Calls for Rules to End Cryptocurrency Anarchy

[vc_row row_type="row" use_row_as_full_screen_section="no" type="full_width" text_align="left" background_animation="none" css_animation=""][vc_column][vc_column_text]Mark Carney is calling for greater regulation to bring the era of cryptocurrency “anarchy” to an end. “The time has come to hold the crypto-asset ecosystem to the same standards as the rest of the financial system,” the Bank of...

America’s Economic Gamble

Volatility is back. A long spell of calm, in which America’s stockmarket rose steadily without a big sell-off, ended abruptly this week. The catalyst was a report released on February 2nd showing that wage growth in America had accelerated. The S&P 500 fell by a...

May Starts Work to Steady U.K. for Brexit After Promotion

Theresa May now has just two days rather than two months to build a team to rescue the U.K. from its worst political crisis in a generation and begin extricating it from the European Union. May, 59, is on a fast track to succeed David Cameron as...

Brexit Aftershocks Rattle Markets as Cameron Quits

Pound plunges 8 percent, biggest decline ever, as gold surges Bank of England says it will take ‘all necessary steps’ Britain’s stunning vote to leave the European Union spread turmoil across the world’s financial markets and dismay through Europe’s capitals, where EU leaders gave an early warning...

Pound Drops Most Since 2009 as U.K. Assets Awake to Brexit Risks

The pound dropped the most since 2009, leading a decline in U.K. assets, as early results in Britain’s European Union referendum punctured confidence the “Remain” campaign was heading for victory.   Britain’s currency tumbled against all of its major counterparts, and FTSE 100 Index futures contracts slid after...

Pound Strongest This Year as ‘Remain’ Seen Winning EU Referendum

The pound climbed to its strongest level since December amid speculation that U.K. voters opted to remain in the European Union. Sterling jumped Thursday as opinion polls conducted before voting started showed a lead for the ‘‘Remain’’ camp, adding to speculation the U.K. would stay a...

Brexit Campaign Resumes With Migration Debate

The Brexit campaign resumed on Sunday with disagreements over immigration as both camps sought to tone down their rhetoric after the killing of Labour Party lawmaker Jo Cox and new polls showed “Remain” with a slight lead. Prime Minister David Cameron wrote in the Sunday Telegraph...