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Global markets skidded on Friday as investors anxious that financial distress in Turkey could affect the worldwide banking system and the broader economy. The fear is of a full-blown emerging market crisis.

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 sparked by concerns over President Recep Tayyip Erdogan’s economic policies and a trade dispute with the United States.

Eurozone countries run a trade surplus with Turkey but it is small and in the two previous Turkish financial crises since the turn of the millennium, European exporters have been able to divert their business to other markets.

No one else was hurt in the crash.

In a separate opinion piece in the pro-government newspaper Daily Sabah, Erdogan’s spokesman Ibrahim Kalin said Turkey’s efforts to solve the crisis with diplomatic methods had been dismissed by the Trump administration, warning that “the us runs the risk of...

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.

Prior to its collapse, Mr Ashley had held an 11% stake in the department store chain.

In February, U.S. Trade Representative Robert Lighthizer delivered President Trump’s Trade Policy Agenda and Annual Report to Congress, outlining how the Administration was promoting free, fair and reciprocal trade and strongly enforcing U.S. trade laws. Beijing says it is...

WordPress Richard Russell in a photo from his personal blog.

In a continuing saga between investors and the Securities and Exchange Commission (SEC), Dan Morehead calls for long-term thinking.

Wall Street and Washington have the same question for Elon Musk: Where’s the money?

After inconclusive talks this week on solving the spat, Mr Trump took advantage of Turkey’s turmoil to turn the screws on the country.

Swedish furniture retailer behemoth Ikea has finally opened their first store in India. The first IKEA India store in Hyderabad this year, will be followed by the Navi Mumbai store in 2019. While IKEA has been sourcing products for three decades, the store marks a milestone in...

Hard currency debt issued by Turkish banks suffered similar falls. To do that, they have to sell lira – worsening the rout.

U.S. President Donald Trump ramped up his attack on Turkey by raising steel and aluminium tariffs to 50 percent and 20 percent respectively. “Our relations with Turkey are not good at this time!”