Financial crisis

August 14, 2018 - 3:41 pm
Royal Bank of Scotland will pay a $4.9 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial crisis. The Justice Department said in a statement Tuesday that the penalty is the largest it...
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A man shops in a market in Istanbul, Monday, Aug. 13, 2018. Turkey's central bank announced a series of measures on Monday to free up cash for banks as the country grapples with a currency crisis. The Turkish lira has nosedived over the past week and tumbled another 7 percent on Monday as the central bank's measures failed to restore investor confidence. (AP Photo/Mucahid Yapici)
August 14, 2018 - 9:07 am
ANKARA, Turkey (AP) — The Latest on Turkey's currency crisis (all times local): 4:00 p.m. The top U.S. diplomat in Turkey has called for the cases against an American pastor and others held in Turkey to be resolved "without delay" and in a "fair and transparent manner." Jeffrey Hovelier, the U.S...
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August 14, 2018 - 7:08 am
NEW DELHI (AP) — The Indian rupee has fallen to an all-time low against the U.S. dollar amid worries over Turkey's growing financial crisis. Indian Economic Affairs Secretary Subhash Chander Garg told reporters that there was "nothing at this stage to worry" about after the rupee reached 70.1 to...
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An investor walks in front of trading boards at a private stock market gallery in Kuala Lumpur, Malaysia, Tuesday, Aug. 14, 2018. Most Asian stock markets rose Tuesday after Wall Street declined as Turkey’s central bank struggled to contain a currency crisis that is feeding fears about other emerging markets. (AP Photo/Yam G-Jun)
August 14, 2018 - 5:13 am
BEIJING (AP) — Most global stock markets rebounded Tuesday after Wall Street slid on worries Turkey's currency crisis will hurt other emerging markets. KEEPING SCORE: In early trading, Germany's DAX rose 0.7 percent to 12,441.97 and France's CAC 40 gained 0.4 percent to 5,432.48. London's FTSE 100...
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People walk in a market in Istanbul, Monday, Aug. 13, 2018. Turkey's central bank announced a series of measures on Monday to free up cash for banks as the country grapples with a currency crisis. The Turkish lira has nosedived over the past week and tumbled another 7 percent on Monday as the central bank's measures failed to restore investor confidence. (AP Photo/Mucahid Yapici)
August 14, 2018 - 4:45 am
ANKARA, Turkey (AP) — The Turkish currency has stabilized near record lows as investors gauge the government's next move to avoid a full-blown financial crisis. The Turkish lira has been hit by concerns over President Recep Tayyip Erdogan's economic policies and a trade and diplomatic dispute with...
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A woman walks past a bank electronic board showing the Hong Kong share index outside a Hong Kong local bank Monday, Aug. 13, 2018. Asian stock prices sank Monday as Turkey’s financial turmoil fueled fears contagion might spread to other emerging markets. (AP Photo/Vincent Yu)
August 13, 2018 - 7:47 am
BEIJING (AP) — Global stock prices sank Monday as Turkey's financial turmoil fueled fears of contagion in other emerging markets. KEEPING SCORE: Germany's DAX declined 0.6 percent to 12,346 and London's FTSE 100 retreated 0.5 percent to 7,625. France's CAC 40 lost 0.2 percent to 5,401. On Wall...
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Turkey's President Recep Tayyip Erdogan announces plan of action for the first 100 days of his new presidency, in Ankara, Turkey, Friday, Aug. 3, 2018. (AP Photo/Burhan Ozbilici)
August 10, 2018 - 11:05 am
ANKARA, Turkey (AP) — The Latest on Turkey's financial turmoil (all times local): 6:05 p.m. Turkish President Recep Tayyip Erdogan says his country will continue to grow despite what he described as an "attack" on the Turkish lira. Delivering a speech in the northern city of Gumushane on Friday,...
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A woman walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Aug. 10, 2018. Shares were lower in Asia on Friday, tracking losses on Wall Street, despite the release of data showing Japan’s economy resumed its longtime expansion in the last quarter. (AP Photo/Eugene Hoshiko)
August 10, 2018 - 7:36 am
BANGKOK (AP) — World stock markets fell Friday, particularly in Europe, as investors worried about the financial stability of Turkey, where the currency has nosedived. KEEPING SCORE: Germany's DAX fell 1.7 percent to 12,466 and the CAC 40 in France fell 1.2 percent to 5,436. Britain's FTSE 100 sank...
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Various currencies are displayed without the going rate on a money exchange shop window in downtown Tehran, Iran, Tuesday, Aug. 7, 2018. Money exchange shops across Iran cautiously reopened on Tuesday after being shut for five months amid economic turmoil fanned by America's withdraw from the nuclear deal. (AP Photo/Ebrahim Noroozi)
August 08, 2018 - 7:22 am
TEHRAN, Iran (AP) — Iranian lawmakers Wednesday voted to sack President Hassan Rouhani's labor minister, a victory for hard-liners opposed to the relative moderate amid a worsening economic crisis. Parliament speaker Ali Larijani said 129 of 243 lawmakers present voted to oust Labor Minister Ali...
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FILE - In this Dec. 26, 2016 file photo, a currency exchange bureau owner counts U.S. dollars in downtown Tehran, Iran. Iran's Central Bank has allowed money exchange offices across the country to resume work after a ban imposed in March 2018 amid the country's economic troubles. The bank's governor, Abdolnasser Hemmati, told sate TV late on Sunday, Aug 5, 2018, that "money exchangers are allowed to sell and buy foreign currencies." (AP Photo/Vahid Salemi, File)
August 07, 2018 - 6:00 am
TEHRAN, Iran (AP) — Money exchange shops across Iran cautiously reopened on Tuesday after being shut for five months amid economic turmoil fanned by America's withdraw from the nuclear deal. Shops opened their doors in the Iranian capital, Tehran, though some displayed no exchange rates late into...
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