Turkey’s lira weakens more than 6 pct on threat of more U.S. sanctions

By Daren Butler and David Dolan ISTANBUL, Aug 17 : Turkey’s battered lira weakened more than 6 percent against the dollar on Friday, after a U.S. warning that Ankara should expect more economic sanctions unless it hands over the detained American evangelical pastor Andrew Brunson. It has lost nearly 40 percent of its value against […]

Some Australian pension funds may be derelict in duty, inquiry hears

By Paulina Duran SYDNEY, Aug 17 : Some of the firms that manage funds within Australia’s A$2.6 trillion ($1.9 billion) pension system may not be complying with their legal duty to put the interests of customers ahead of their own, a powerful inquiry into financial misconduct heard. Over the past two weeks, the Royal Commission […]

Emerging stocks set for worst week since Feb, Turkey tumbles

By Claire Milhench LONDON, Aug 17 : Emerging equities were set for their worst week since February after sliding into bear territory while currencies came under fresh pressure on Friday, with Turkey’s lira taking another tumble despite central bank measures earlier in the week. MSCI’s benchmark emerging stocks index ended the week on a slightly […]

BOJ may be ‘stealth tapering’ in stock markets, analysts say

By Tomo Uetake TOKYO, Aug 17 : Japan’s central bank appears to be growing more comfortable with larger declines in the country’s stock prices, a sign it may have begun in the share market what analysts describe as “stealth tapering” of its massive monetary stimulus. The Bank of Japan refrained from buying stocks on two […]

Turkish firms and government face $3.8 bln bond crunch in Oct -SocGen

By Karin Strohecker LONDON, Aug 17 : Turkey and its firms face repayments of nearly $3.8 billion on foreign currency bonds in October as the country struggles with a plunging lira that has lost more than a third of its value since the start of the year. Emerging market (EM) investors have been worried about […]

Britain’s FTSE rises as miners, oil stocks rebound

By Kit Rees LONDON, Aug 17 : Britain’s top share index inched higher on Friday on the back of a continued recovery in mining stocks, though investor wariness over recent geopolitical events put the index on track for its biggest weekly loss in nearly five months. The blue chip FTSE 100 index was up 0.1 […]