Tag: Banking and credit
Turkish lira dips to record low over Erdogan rate comments
ANKARA, Turkey — The Turkish lira dipped to new record lows on Wednesday after President Recep Tayyip Erdogan rattled investor confidence by saying he...
Federal Reserve survey sees economy growing at faster pace
WASHINGTON — The U.S. economy grew at a somewhat faster pace in April and May despite disruptions that choked supplies to the nations manufacturers,...
Eurozone inflation rebounds to 2.0% on higher energy prices
FRANKFURT, Germany — Eurozone inflation rose to 2.0% in May, driven higher by rising oil prices as other inflationary pressures appeared to remain subdued....
China’s central bank tries to stop surge in currency’s value
BEIJING — China’s central bank is trying to restrain the surging exchange rate of its currency, temporarily backtracking in efforts to make the tightly...
World Bank: Lebanon’s crisis among world’s worst since 1850s
BEIRUT — Lebanon’s severe economic and financial crisis is likely to rank as one of the worst the world has seen in more than...
Bank of Italy forecasts 4% GDP growth in 2021
MILAN — The head of Italy’s central bank said Monday the eurozone’s third-largest economy could grow 4% this year, after shedding 9% during the...
Bank CEOs return to testify in front of divided Congress
WASHINGTON — The chief executives of the nation’s largest banks are back in front of Congress, where they are likely to face another round...
HSBC exiting US retail banking to focus on wealth management
NEW YORK — British banking giant HSBC says it is closing its U.S. retail banking business in order to refocus its efforts on wealth...
Saved by online lenders, businesses say they’ll borrow again
NEW YORK — Some small businesses forced to turn to online lenders for pandemic relief are making those niche players a bigger part of...
World Bank allocates $2 billion to fund projects in Sudan
CAIRO — The World Bank said Monday it has allocated $2 billion to cash-stripped Sudan as the transitional government has struggled to address the...