Monday, August 20News That Matters

Tag: tells

Turkey will emerge stronger from lira crisis, minister tells investors

Turkey will emerge stronger from lira crisis, minister tells investors

World News
ISTANBUL (Reuters) - Finance Minister Berat Albayrak assured international investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting the country’s banks were healthy and signalling it could ride out a row with the United States. FILE PHOTO: A 100 Turkish lira banknote is seen on top of 50 Turkish lira banknotes in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/File PhotoIn a conference call with thousands of investors and economists, Albayrak - who is President Tayyip Erdogan’s son-in-law - said Turkey fully understood and recognised all its domestic challenges but was dealing with what he described as a market anomaly. With Ankara locked in a complex dispute with Washington, he also played down a decision by Presiden
Turkey’s Albayrak tells investors the country will emerge stronger

Turkey’s Albayrak tells investors the country will emerge stronger

World News
LONDON (Reuters) - Turkish Finance Minister Berat Albayrak hosted a conference call with global investors on Thursday in a bid to reassure them that policymakers are able to tackle the worst currency crisis the country has suffered since 2001. FILE PHOTO: Turkish Treasury and Finance Minister Berat Albayrak speaks during a presentation to announce his economic policy in Istanbul, Turkey August 10, 2018. REUTERS/Murad Sezer/File PhotoSome 3,000 investors and economists had registered for the call. Below are reactions from fund managers and analysts who listened to the call: CRISTIANA DE ALESSI, BNP PARIBAS ASSET MANAGEMENT “The finance minister provided some comfort by acknowledging that rebalancing the economy is a priority through both fiscal and monetary policy and that capital cont
Turkey will emerge stronger from lira crisis, finance minister tells investors

Turkey will emerge stronger from lira crisis, finance minister tells investors

World News
ISTANBUL (Reuters) - Finance Minister Berat Albayrak assured international investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting that the country’s banks were healthy and strong. FILE PHOTO: A 100 Turkish lira banknote is seen on top of 50 Turkish lira banknotes in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/File PhotoIn a conference call with thousands of investors and economists, Albayrak - who is President Tayyip Erdogan’s son-in-law - said Turkey fully understood and recognized all its domestic challenges but was dealing with what he described as a market anomaly. The Turkish lira hit a record low of 7.24 to the dollar this week, down 40 percent this year, as investors fretted over Erdogan’s influence over
'He's a priest. I trusted him': One of the 1000 victims of alleged Pennsylvania clergy abuse tells his story

'He's a priest. I trusted him': One of the 1000 victims of alleged Pennsylvania clergy abuse tells his story

US News
Jim VanSickle in high school in northern Pennsylvania, left, and with his granddaughter, right. Now 55, he says he was abused by an English teacher and Catholic priest, David Poulson, one of more than 300 Pennsylvania priests named in a sweeping grand jury report released Tuesday. (Provided by Jim VanSickle) by Isaac Stanley-Becker August 15 at 6:06 AM Email the author Jim VanSickle entered his junior year at Bradford Central Christian High School in the fall of 1979 to learn that he had a new English teacher: a young priest named David Poulson, who had recently been ordained in the Catholic Church. It was a turbulent moment in the 16-year-old’s life. His grandmother had died, and his father had fallen ill and couldn’t work. “I was a lost kid,” he said in an interview. He found a
Erdogan tells Turks to buy crumbling lira as Trump turns the screws

Erdogan tells Turks to buy crumbling lira as Trump turns the screws

World News
ISTANBUL/WASHINGTON (Reuters) - President Tayyip Erdogan told Turks on Friday to sell their gold and dollars to support the crumbling lira, which was in free fall as U.S. President Donald Trump escalated a feud with NATO ally Turkey by doubling tariffs on metals imports. The lira TRYTOM=D3 has long been falling on worries about Erdogan's influence over monetary policy and worsening relations with the United States. That turned into a rout on Friday. The currency dropped as much as 18 percent at one point, the biggest one-day fall since a 2001 financial crisis in Turkey. Reverberations spread through global markets, with European stock markets especially hit as investors took fright over banks’ exposure to Turkey. U.S. stocks were also rattled. The lira has lost more than 40 percent th
Erdogan tells Turks to buy plunging lira as Trump doubles metals tariffs

Erdogan tells Turks to buy plunging lira as Trump doubles metals tariffs

World News
ISTANBUL/ANKARA (Reuters) - President Tayyip Erdogan told Turks on Friday to exchange gold and dollars into lira as the country’s currency plunged as much as 14 percent on worries about his influence over monetary policy and worsening relations with the United States. People check currency exchange rates at a currency exchange office in Istanbul, Turkey August 10, 2018. REUTERS/Murad SezerU.S. President Donald Trump said he had authorised higher tariffs on imports from Turkey, imposing a 20 percent duty on aluminium and 50 percent one on steel. Trump noted on Twitter that the lira “slides rapidly downward against our very strong Dollar!” “Our relations with Turkey are not good at this time!” he said in an early morning post. Waves from the crisis spread abroad, with investors selling of
Russia tells Washington curbs on its banks would be act of economic war

Russia tells Washington curbs on its banks would be act of economic war

World News
MOSCOW (Reuters) - Russia warned the United States on Friday it would regard any U.S. move to curb the activities of its banks as a declaration of economic war which it would retaliate against, stepping up a war of words with Washington over spiraling sanctions. FILE PHOTO: Russian Prime Minister Dmitry Medvedev speaks during an interview with Russia's Kommersant newspaper at the Gorki state residence outside Moscow, Russia August 7, 2018. Sputnik/Ekaterina Shtukina/Pool via REUTERS The warning, from Prime Minister Dmitry Medvedev, reflects Russian fears over the impact of new restrictions on its economy and assets, including the rouble which has lost nearly six percent of its value this week on sanctions jitters. Economists expect the economy to grow by 1.8 percent this year. But if ne...
Apple Tells Lawmakers iPhones Don't Spy on Users

Apple Tells Lawmakers iPhones Don't Spy on Users

Technology
This site may earn affiliate commissions from the links on this page. Terms of use. For the past few months, as stories have broken about the myriad ways that companies like Facebook have shared user data with third parties, a new set of questions has arisen about just how invasive these companies are. Various hardware manufacturers and software developers have examined the issue or even testified to Congress about how their platforms work and what data they collect. Apple has become the latest to respond to these concerns, and like the other firms, it insists ...