Selling fruit from a cart in a working-class neighborhood of Istanbul hasn't made Mehmet rich, but he's adamant his modest savings won't ever see the inside of a bank.
Investors
Wall St. surges as Fed statement relieves rate worries
U.S. stocks rallied on Wednesday after the Federal Reserve suggested a less aggressive timeline for raising interest rates even as it opened the door for the first hike in almost a decade.
Alibaba investors face lock-up battered but largely unbowed
As Alibaba (BABA.N) was preparing to sell shares to U.S. investors for the first time, Jerry Verseput tried to persuade his clients not to throw money at the giant China-based e-commerce company because he thinks IPOs are a gamble, especially those with a lot of hype.
Euro, shares rise as dollar lays low ahead of Fed
The euro and world shares gained on Tuesday as the dollar steadied before a two-day meeting of the U.S. Federal Reserve, where the Fed may edge closer to its first interest rate rise in almost a decade.
Wall St. bounces as dollar drops, Fed worries ease
U.S. stocks rallied on Monday as the U.S. dollar eased back from its recent peak and worries eased about the timing of a Federal Reserve interest rate hike.
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Subdued growth prospects at home are pushing mid-sized Spanish banks into foreign acquisitions that would have been impossible a few years ago as they struggled under the weight of bad loans.
Valeant Pharmaceuticals International Inc (VRX.TO) plans to raise its bid for Salix Pharmaceuticals Ltd (SLXP.O) close to $170 per share, a person familiar with matter told Reuters.
U.S. stocks fell on Friday and the Dow and S&P 500 registered a third week of losses as the dollar resumed its climb, adding to worries about its impact on U.S. multinationals' earnings.
European equities were set for a sixth straight week of gains on Friday, fuelled by a dramatic slide in the euro on the back of the European Central Bank's bond-buying plan that has kept euro zone yields near record lows.
U.S. stocks rose in a broad rally on Thursday, bouncing back from two days of losses, helped by weaker retail sales that paused the dollar's recent rally and tempered the outlook for interest rates.
U.S. stocks ended lower for a second straight session on Wednesday as worries grew about the timing of a Federal Reserve interest rate hike and dollar strength further dampened the outlook for U.S. earnings.
Big U.S. banks, including JPMorgan Chase & Co (JPM.N) and Citigroup Inc (C.N), are expected to win Federal Reserve backing on Wednesday to buy back more shares and increase their dividends in the coming year, but the approvals may be as much about the institutions’ financial engineering as any improvement in their health.
The euro dived to its lowest since early 2003 against the dollar on Wednesday, dragging other European currencies with it on the back of the huge differences developing in market interest rates between Europe and the United States.
Asian stocks fell to a two-month low on Wednesday as nervous markets recoiled on worries about an earlier U.S. interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.
