Turkey lira latest: Erdogan government holds MONSTER conference call with 6,000 investors | City & Business | Finance

Berat Albayrak sought to reassure uneasy investors and economists during the mammoth call, insisting Turkey would emerge stronger from its current currency woes. The Turkish lira plummeted to a record low against the dollar this week, falling to 7.24 before recovering slightly. But Mr Albayrak, the son-in-law of President Tayyip Erdogan, pledged the country’s banks were not under threat, telling investors the banks were up to the task of riding out a worsening row with the United States. Despite a slight recovery in the value of the lira against the…

Read More

Gin is just the tonic for exports | City & Business | Finance

The increase was driven by drinkers acquiring a taste for premium, small batch spirits. Sales volumes reached a new seven per cent high and overall value climbed 12 per cent driven by overseas customers cracking open 189 million bottles worth £530 million. While the £184 million US market is the biggest, Asia and Australasia grew 13 per cent to £31 million, prompting leading body the Wine and Spirit Trade Association to forecast a £2 billion valuation for the industry by the end of this year. A sparkling showing too from…

Read More

Turkish lira MELTDOWN: Analyst warns Turkey will face SERIOUS PRESSURE | City & Business | Finance

The Turkish lira has nosedived in value in the past week over concerns about Erdogan’s economic policies and after the United States slapped sanctions on Turkey angered by the continued detention of an American pastor. The finance expert warned Turkey must encourage investment or risk creating a “very scary picture”, with private companies indebted in euros and dollars set to face hefty repayments due to the lira meltdown. Ms Vera, who is Bulltick Capital’s Head of Global Research, told Fox News: “What the crux of the issue is in Turkey…

Read More

Turkish Lira MELTDOWN: Erdogan in complete DENIAL about economic cost | City & Business | Finance

The Turkish lira remains under severe pressure on Monday after an intervention by the country’s central bank, which Mr Maggio said has developed to be a “branch of the government” in Turkey. President of Turkey Recep Tayyip Erdogan told supporters on Monday that the lira’s free-fall was the result of a plot as he urged residents to exchange dollars and gold for lira – calling on the nation to stand united against America. Mr Erdogan said: “What is the reason for all this storm in a tea cup? There is no…

Read More

Bitcoin price LIVE: Crypto prices rally into the green but it may not be recovery | City & Business | Finance

DAILY HEADLINES Good afternoon and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.  Some good news finally arrives for crypto investors as bitcoin prices slowly climb back into the green and sustain.  BTC rose 3.21 percent to trade at $6,348.56 as of 12am today. The rest of the market fared well too, with Ethereum rising 1.77 percent to trade at $323.39.  Ripple increased 2.34 percent to go for $0.306127, while Litecoin jumped by 7.42 percent to sell for $60.68. Bitcoin suffered heavy losses in the…

Read More

Construction and retail get warmer | City & Business | Finance

It grew by 1.3 per cent from the same period in 2017.  But it failed to fire on all cylinders as industrial production fell, including a 0.9 per cent drop in manufacturing which has struggled to match a powerhouse performance in 2017.  Construction output, which is 6 per cent of the economy and has long lagged behind other sectors, rebounded from a weather-driven 0.8 per cent contraction in the first quarter to expand 0.9 per cent.  Its 1.4 per cent growth between May and June was mainly due to new…

Read More

Pound live: Strategist has SHOCK warning as sterling DROPS amid Brexit chaos | City & Business | Finance

The escalation of fears surrounding a no deal Brexit is said to be one of the causes of the low trading rate seen on pound sterling this week. Foreign exchange strategist at ING Viraj Patel said the current political stalemate surrounding Brexit has led to investors to turn short-term bearish on the pound. Viraj Patel, FX strategist at ING, told Bloomberg: “I think the pound is going to take its cue from what the Government does. So it’s ultimate faith is in what the Government has to say. “I think the…

Read More

Bitcoin price: Tech analyst says it could be ‘GAME OVER’ for bitcoin | City & Business | Finance

The prominent Renaissance Macro Research analyst warned the cryptocurrency could become “permanently impaired”. Jeff deGraaf, the company’s head of technical research, said he would advise on betting against bitcoin if it fell below its support level for the year to date. In a note to clients Thursday, which was seen by CNBC, Mr deGraaf said: “Parabolic moves are notoriously dangerous for short‐sellers. “Usually a top develops that often appears as a descending triangle over months, with reduced volatility and little [fanfare].” He added: “Once the top is complete on the…

Read More

Bitcoin price LIVE: Bitcoin ETF decision puts BTC in flux – Crypto crash hits market | City & Business | Finance

DAILY HEADLINES Good afternoon and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. Continued uncertainty over the Securities and Exchange Commission’s (SEC) decision to approve a proposed bitcoin exchange-traded fund (ETF) has caused prices to crash. Bitcoin a huge amount of ground today, dropping 8.72 percent on the day to trade at $6,494.73. Ethereum crashes down by 11.98 percent to trade at $306.88. Ripple fell a whopping 17.83 percent to trade at $0.337825, while Litecoin suffers a 14.05 percent loss to sell for $64.07 percent. Bitcoin prices…

Read More

Bitcoin price LIVE: Bitcoin expert warns investors not to panic – can BTC recover? | City & Business | Finance

DAILY HEADLINES Good afternoon and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime. A bad start to the week continues for the cryptocurrency market as BTC prices plunge below $7,000. Bitcoin struggled to rally this morning and has lost 1.10 percent on the day to trade at $6,963.45. Ethereum had some small gains yesterday but lost 0.01 percent to trade at $407.13. Ripple sees more losses, falling 1.77 percent to trade at $0.421029, while Litecoin suffers a 1.35 percent loss to sell for $73.29 percent.…

Read More