ISTANBUL—Turkey’s President Recep Tayyip Erdogan dismissed the central bank governor as the country is beset by its second currency crisis in two years. In a decree published in the early hours of Saturday, Mr. Erdogan ended the mandate of Murat Uysal, who had led the institution since the summer of 2019, replacing him with Naci … Read more
NEW DELHI—Investors across the globe are hoarding gold in the Covid-19 pandemic. In normally gold-obsessed India, there’s a glut, as struggling families stop buying and start hocking jewelry. International investors have lifted the price of gold to all-time highs this year, trying to get their hands on more gold coins, bars and exchange-traded funds. Many … Read more
TOKYO—Japan’s next leader will face a question many other countries are now grappling with because of the coronavirus pandemic: How much can central banks do to pull economies out of a deep malaise? Shinzo Abe, who said Friday he would resign after nearly eight years in office because of illness, leaned heavily on the Bank … Read more
WELLINGTON, New Zealand—New Zealand activated its National Security System in response to a prolonged cyberattack that disrupted trading on the country’s stock exchange this week. Trading on New Zealand’s securities market was halted for a fourth day on Friday by a denial of service attack that NZX Ltd., the exchange’s operator, said came from overseas. … Read more
WASHINGTON—U.S. authorities on Thursday moved to seize 280 cryptocurrency accounts they said were used by North Korean hackers who stole an estimated more than $1 billion from exchanges around the world, including U.S.-based Algorand. The U.S. Justice Department said the accounts targeted in the civil forfeiture filing were used by the North Korean hackers and … Read more
The World Bank on Thursday said it is halting publication of its flagship report on business competitiveness to investigate data irregularities. Data about four countries—China, Azerbaijan, the United Arab Emirates and Saudi Arabia—appeared to have been inappropriately altered, according to a person with knowledge of the decision. The move renewed concerns first raised two years … Read more
WASHINGTON—Hackers tied to the North Korean government are trying to rob banks across the globe by draining ATMs and initiating fraudulent money transfers, in an effort by the cash-strapped Pyongyang regime to fund its nuclear weapons program, multiple federal government agencies warned Wednesday. The campaign includes so-called spearphishing attacks—which use fraudulent email to infect a … Read more
At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region’s most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them. HSBC Holdings PLC is… Source link
FRANKFURT—European Central Bank officials signaled that they could roll out new monetary stimulus in the fall to shore up economic growth, as the region wrestles with rising unemployment and a possible wave of corporate bankruptcies. While ECB officials signaled relief that the 19-nation currency union had avoided an even deeper downturn, they warned of possible … Read more