Turkish President Recep Tayyip Erdogan said his country was moving towards allowing trade with Russia, China and Iran to be conducted in local currencies, as he continues his efforts to strengthen the falling lira.
“If we buy something from them, we will use their money, if they buy something from us, they will use our currency,” he said, ahead of a trip by Turkish Prime Minister Binali Yildirim to Russia for meetings on Tuesday.
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Time For Truth: (Yahoo News) – Erdogan wants trade with Russia, China in local currencies
Cybercriminals who once earned millions by breaking into individual online bank accounts are now targeting the banks’ own computers, with often-dramatic results.
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Time For Truth: (Wall Street Journal) – Hackers Program Bank ATMs to Spew Cash
Tesco Bank’s chief executive has blamed “a systematic, sophisticated attack” for the money taken from 20,000 of its customer accounts.
Benny Higgins said the bank knew “exactly” what the attack was, but could not say more because it was part of a criminal investigation.
He said all affected customers would be refunded by the end of Tuesday.
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Time For Truth: (BBC News) – Tesco Bank blames 'systematic sophisticated attack' for account losses
If AT&T completes its colossal acquisition of Time Warner, the combined company will in some ways look more like a bank than a media conglomerate.
The balance sheet of the merged company would have so much debt on it — about $175 billion — that it would exacerbate its position as the largest nonbank corporate issuer, and make it bigger than some financial institutions.
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Time For Truth: (The New York Times) – To Secure a Mega-Merger, AT&T Plans to Shoulder Mega-Debt
While the US the media lashes out at Trump every time he dares to tell the truth that the central bank is a biased, engaged, political member of the decision-making landscape, other “developed” countries are happily willing to demonstrate just how apolitical the central bank truly is. Take Greece, for example, where today the chief prosecutor ordered a raid of the home of the governor of the Greek central bank, Yannis Stournaras and the company office of his wife, Lina.
The searches were part of a probe conducted by the Financial Police in connection to the alleged mismanagement of more than 1 million euros in state funding by the Hellenic Center for Disease Control and Prevention, KEELPNO. The investigation related to funds that KEELPNO allegedly received through a company owned by Nikolopoulou as well as complaints regarding the disappearance of documents tied to the case.
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Time For Truth: (Zero Hedge) – Greece Raids Home Of Central Bank Head