Banking and credit

People walk inside historical Covered Bazar, one of homes of exchange offices in Istanbul, Friday, Aug. 7, 2020. Turkey's currency tumbled further Friday, hitting another record low. The Turkish lira dropped to 7.3677 against the dollar before making a recovery. The lira is down about 19% versus the U.S. currency since the beginning of the year. (AP Photo/Emrah Gurel)
November 07, 2020 - 1:10 am
ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan on Saturday dismissed the head of the country’s central bank following a period of high inflation and record lows for the lira. Former Finance Minister Naci Agbal was brought in to replace Murat Uysal, according to a presidential decree...
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Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)
November 05, 2020 - 2:41 pm
WASHINGTON (AP) — The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signaled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic. The Fed announced no new actions after its latest policy meeting but...
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Traffic and people pass over Westminster Bridge with a fog shrouded Houses of Parliament and the Elizabeth Tower, known as Big Ben, hidden behind, on the first day of Britain's second lockdown designed to save its health care system from being overwhelmed by people with coronavirus, in London, Thursday, Nov. 5, 2020. Britain joined large swathes of Europe in a coronavirus lockdown designed to save its health care system from being overwhelmed. Pubs, along with restaurants, hairdressers and shops selling non-essential items closed on Thursday until at least Dec. 2. (AP Photo/Matt Dunham)
November 05, 2020 - 8:11 am
LONDON (AP) — The British government and the Bank of England joined forces Thursday to provide further support to an economy that is set for a difficult winter following the imposition of new coronavirus lockdown measures. Hours after the central bank increased its monetary stimulus by a bigger...
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In this Friday, Oct. 23, 2020 photo, the figure of Ant Group's mascot is displayed at the Ant Group office in Hong Kong. China's Ant Group will try to raise nearly $35 billion in its initial public offering in Shanghai and Hong Kong, which would make it the largest share offering in history. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world's largest money market funds, will hold dual listings in Shanghai and Hong Kong. (AP Photo/Kin Cheung)
November 04, 2020 - 7:46 pm
BEIJING (AP) — The world’s biggest online finance company was racing toward a stock market debut when it was derailed by Beijing's anxiety about risks in the fledgling industry, jarring global investors and deepening uncertainty about China’s financial markets. Regulators suspended Ant Group's...
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A man walks past the Reserve Bank of Australia headquarters in Sydney, Tuesday, Nov. 3, 2020. Australia’s central bank on Tuesday cut its benchmark interest rate by 0.15 of a percentage point to a record low 0.10% in a bid to lift the economy from a pandemic-induced recession.(Dan Himbrechts/AAP Image)
November 03, 2020 - 1:22 am
CANBERRA, Australia (AP) — Australia’s central bank on Tuesday cut its benchmark interest rate by 0.15 of a percentage point to a record low 0.10% in a bid to lift the economy from a pandemic-induced recession. The move was the first since March when the Reserve Bank of Australia board made two...
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FILE - In this Monday, Sept. 21, 2020, file photo, a giant American Flag hangs on the New York Stock Exchange. U.S. stocks are climbing Monday, Nov. 2, 2020, kicking off a potentially turbulent stretch for markets, as Wall Street recovers some of its sharp sell-off from last week. (AP Photo/Mary Altaffer, File)
November 02, 2020 - 11:36 pm
BEIJING (AP) — Asian stock markets followed Wall Street higher on Tuesday as investors watched for U.S. election results, hoping a win by challenger Joe Biden in the presidential race might lead to more economic stimulus. Benchmarks in Shanghai, Hong Kong, Seoul and Sydney advanced. Japanese...
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FILE - In this file photo dated Monday, Oct. 26, 2020, a man wearing a face mask walks over a bridge with the buildings of the banking district in background in Frankfurt, Germany. New figures released Friday Oct. 30, 2020, show that the European economy grew by an unexpectedly large 12.7% in the third quarter as companies reopened after severe coronavirus lockdowns. (AP Photo/Michael Probst, FILE)
October 30, 2020 - 11:34 am
FRANKFURT, Germany (AP) — The European economy grew by an unexpectedly large 12.7% in the third quarter as companies reopened after severe coronavirus lockdowns, but the rebound is being overshadowed by worries that growing numbers of infections will cause a new downturn in the final months of the...
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FILE - In this Sept. 11, 2020 file photo, European Central Bank (ECB) President Christine Lagarde attends a news conference during the Informal Meeting of Economics and Finance Ministers in Berlin, Germany. The European Central Bank held off from strengthening its stimulus programs despite growing concern that a renewed surge in COVID-19 cases could stall the economy’s recovery from the deep downturn early this year. The bank on Thursday, Oct. 29, made no change to its 1.35 trillion ($1.58 trillion) pandemic emergency bond purchase program, which pumps newly created money into the economy to keep credit flowing to businesses and promote economic activity. Hannibal Hanschke/Pool Photo via AP, File)
October 29, 2020 - 9:21 am
FRANKFURT, Germany (AP) — The European Central Bank held off from strengthening its current economic stimulus but signaled that more could be coming at its December meeting given that risks are “clearly tilted to the downside” and new staff projections would make possible “a thorough reassessment...
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October 19, 2020 - 6:01 am
DUBAI, United Arab Emirates (AP) — The coronavirus pandemic has pushed nearly all Mideast nations into the throes of an economic recession this year, yet some rebound is expected as all but two — Lebanon and Oman — are expected to see some level of economic growth next year, according to a report...
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October 19, 2020 - 5:13 am
FRANKFURT, Germany (AP) — The head of the European Central Bank says the economic recovery from the coronavirus pandemic “risks losing momentum” due to a second wave of infections and that more stimulus could be added if necessary. “The second wave of the pandemic in Europe, notably in France, and...
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