Category: Governance

By Tommy Wilkes LONDON (Reuters) – The dollar rose on Wednesday while the euro and riskier currencies like the Australian dollar dipped as traders prepared for more volatility and the impact of rising cases of the COVID-19 variant Omicron. Turkey’s lira steadied and held to its recent gains amid a rollercoaster ride for the currency this week. Foreign exchange moves were largely small, however, with trading volumes thinner ahead of the holiday season. The Australian dollar lost as much as 0.4% to $0.7121 and the New Zealand dollar as much as $0.6742, having both advanced sharply the day before… Continue reading “Dollar finds its footing; Turkish lira holds its gains”

Turkey’s lira steadied on Wednesday and held gains from what is so far a strong week for a currency that has been embattled for years. The lira stood at 12.25 to the dollar at 0539 GMT, from a close of 12.4 on Tuesday when it rose 6 percent in a roller-coaster session. On Monday – when the Turkey’s President Tayyip Erdogan announced the plan to protect lira deposits from further depreciation – the lira first crashed 10 percent then rallied to its largest daily gain ever, in record volatility. The currency is still down some 40 percent this year following a meltdown prompted by an aggressive mo… Continue reading “Turkish lira steadies after government backstop”

MOSCOW – President Vladimir Putin warned Tuesday that Russia was prepared to take military steps in response to “unfriendly” Western actions over the Ukraine conflict, in a sharp escalation of rhetoric. He also called for “serious negotiations” on Russian security demands put to the United States and NATO during his first call with new German Chancellor Olaf Scholz, who in turn called for “de-escalation”. The Russian president has for weeks accused the United States and the Washington-led NATO military alliance of stoking tensions near Moscow’s borders, but these were his first comments hintin… Continue reading “Putin warns West of military measures over Ukraine threats”

By Tom Wilson and Julie Zhu LONDON/HONG KONG (Reuters) – World shares gained on Tuesday as investors weighed up the extent to which the Omicron coronavirus variant would hit economies around the world, with the dollar softening as appetite for riskier assets made a cautious return. The broader Euro STOXX 600 rose as much as 1.1%. German DAX’s added 0.8%, with London’s FTSE climbing 0.9%. Semiconductor and chip stocks grabbed the limelight, with ASML Holding, ASM International, and STMicroelectronics all up around 2% after a positive trading update from U.S. chipmaker Micron Technology. “It’s a… Continue reading “Global stocks gain as appetite for risk stages comeback”

It turns out that birds are not real. Just check out the billboards, T-shirts, social media postings and the messages on a truth van touring the country. Birds are actually government surveillance drones that recharge themselves by perching on power lines right over our heads. That explains a lot. The fact that Twitter has a little bird as its symbol should tell people everything they need to know about the powerful forces at work. Of course, the “pro-bird” crowd will make the typical, predictable arguments about how there’s nothing to worry about, and that these are just, well … birds. But cl… Continue reading “Editorial: Finally, the truth comes out about birds. And wacky conspiracy movements”

Turkey’s lira gained more steam and was up 15% on Tuesday, extending its historic recovery from record lows, after President Recep Tayyip Erdogan unveiled a plan he said would guarantee local currency deposits against market fluctuations. The currency dipped then strengthened in volatile trade to 11.0935 versus the dollar at 0621 GMT, from a close of 13.15. It stood at 11.6 at 0627 GMT. In a late Monday speech, Erdogan said the series of steps will ease burdens from a currency crash over the last few weeks and encourage Turks to hold lira savings rather than dollars. He did not detail how the … Continue reading “Turkish lira bounces back after Erdogan’s anti-dollar plan”