What went wrong for Turkey? Its economy is ‘in the midst of a perfect storm’

The free fall in the Turkish lira has stoked fears of an economic fallout that could spill over into other emerging markets and the banking systems in Europe. Turkish President Recep Tayyip Erdogan blamed the plunge in the currency on “an operation against Turkey” and dismissed suggestions that the country’s …

Turkey

Turkey (Turkish: Türkiye [ˈtyɾcije]), officially the Republic of Turkey is a transcontinental country in Eurasia, mainly in Anatolia in Western Asia, with a smaller portion on the Balkan peninsula in Southeast Europe. Turkey is bordered by eight countries: Greece and Bulgaria to the northwest; Georgia to the northeast; Armenia, the …

Global debt jumped by $8 trillion in Q1, rising to record $247 trillion

The amount of debt held in the world rose by the largest margin in two years during the first quarter of 2018, growing by $8 trillion during the first three months of the year, the Institute of International Finance reported Tuesday. Global debt has now risen to more than $247 …

Marijuana laws take effect Sunday in Massachusetts, Vermont

Laws permitting the sale and personal use of recreational marijuana come into force Sunday in Massachusetts and Vermont, respectively. In Massachusetts, adults 21 and over can legally purchase recreational marijuana from state-licensed dispensaries starting Sunday, July 1, when parts of a pot law approved by voters in November 2016 take …

Millennial investors are flocking to the first marijuana company to hit the New York Stock Exchange (CGC)

The first marijuana stock to ever trade on the world’s most famous stock exchange might be struggling to gain momentum, but that’s not deterring millennial investors. Shares of Canopy Growth — which moved its stock listing from Toronto to the New York Stock Exchange last month — have have been …

Sarepta shares rocket 40% on promising early results for DMD gene therapy

Sarepta Therapeutics Inc. shares skyrocketed 37.8% in Tuesday trade after the company released promising early results from a gene therapy program being developed for the rare degenerative disease Duchenne muscular dystrophy. Tuesday marked the stock’s second-largest percentage gain in over 20 years. Its largest-ever percentage gain came in September 2016, …

The Fed has a surprise in store that could mean an early end to interest rate hikes

The Federal Reserve could have a surprise in store for investors this week, even if everyone already knows the central bank is raising interest rates. Along with the quarter-point increase in the Fed’s benchmark short-term target, the policymaking Federal Open Market Committee is likely to announce another change that would …

Brazil stocks get whacked as real hits 2-year low

Brazil’s stock market has joined the horror story created by a sell-off of the country’s currency, the real, which has sunk to levels not seen since the country’s impeachment crisis two years ago. The Ibovespa benchmark stock index fell as much as 6 per cent by mid-afternoon on Thursday, recovering …

Brazil’s Temer sees no currency crisis; central bank vows to keep acting

Brazilian President Michel Temer said on Thursday there was no risk of a currency crisis in Latin America’s largest economy despite sharp falls in the exchange rate, while the central bank chief pledged to maintain the bank’s intervention in the market. The Brazilian real plummeted to its weakest level in …