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☆ Transfer deadline day deals
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

Asked if Palmer was Chelsea's last signing of the window, he told reporters: "I think so. 0930 CITY SIGN NUNESManchester City have signed Portugal midfielder Matheus Nunes from Wolverhampton Wanderers on a five-year contract. 0830 CHELSEA SIGN MIDFIELDER PALMER FROM MAN CITYChelsea said they have signed midfielder Palmer from Premier League champions Manchester City on a contract running until 2027, with the option of a further year. The transfer fee was reported to be worth around 40 million pounds ($50 million). 0800 MAN UTD SIGN GOALKEEPER BAYINDIR FROM FENERBAHCEManchester United signed Turkish goalkeeper Altay Bayindir from Super Lig side Fenerbahce on a four-year deal, with the option of a further year, a day after Dean Henderson joined Crystal Palace.

Persons: Lionel Messi, Sam Navarro, POCHETTINO, Mauricio Pochettino, Cole Palmer, Palmer, Chelsea's, St, Moises Caicedo, Declan Rice, Jude Bellingham, Harry Kane, Josko, Karim Benzema, Paris St Germain, Rasmus Hojlund, Atalanta, Dominik Szoboszlai, Matheus Nunes, VILLA, Clement Lenglet, Tyrone Mings, BONUCCI, Leonardo Bonucci, Nuno Tavares, Dean Henderson, Hritika Sharma, Aadi Nair, Peter Rutherford, Toby Davis Organizations: Inter Miami, Nashville SC, USA, CHELSEA, Nottingham Forest, Chelsea, St Germain, Brighton & Hove Albion, West Ham United, Arsenal, Borussia Dortmund, Real Madrid, Tottenham Hotspur, Bayern Munich, Leipzig, Manchester City, Manchester United, Wolverhampton Wanderers, LENGLET, Barcelona, Aston Villa, France, CITY, NUNES Manchester City, Wolves, JUVENTUS, Serie, Juventus, Union Berlin, TAVARES FROM ARSENAL Portuguese, Ligue, Olympique de Marseille, PALMER, CITY Chelsea, Premier League, BAYINDIR, FENERBAHCE Manchester United, Turkish, Altay Bayindir, Super Lig, Fenerbahce, Crystal Palace, Thomson Locations: Fort Lauderdale , Florida, USA, Brighton, Chelsea, West, Real Madrid, Al, Ittihad, Paris, Liverpool, England, Portugal, Germany

Turkish Foreign Minister Hakan Fidan met Russian Defence Minister Sergei Shoigu in Moscow on Friday to discuss grain ahead of the Erdogan meeting. "It turned out that it is more difficult to do this than to build new corridors, new ground routes," said Shoigu, who attended the signing ceremony for the Black Sea deal in Istanbul in 2022. Turkey's foreign minister said at a briefing in Moscow on Thursday that reviving the deal was important for the world. U.S. wheat prices rose on Friday, though Lavrov said on Thursday that Russia saw no sign that it would receive the guarantees needed to revive the grain deal. Lavrov said he had discussed Putin's initiative to supply up to 1 million tonnes of Russian grain to Turkey at reduced prices for subsequent processing at Turkish plants and shipping to countries most in need.

Persons: Vladimir Putin, Tayyip Erdogan, Vyacheslav Prokofyev, Putin, Turkey's Tayyip Erdogan, Dmitry Peskov, Erdogan, Hakan Fidan, Sergei Shoigu, Shoigu, it's, Russia's, António Guterres, Sergei Lavrov, Lavrov, Guy Faulconbridge, Kevin Liffey, Conor Humphries, Alison Williams Organizations: Sputnik, Erdogan, UN, United Nations, United, Kremlin, Turkish, Russian, Central African, Initiative, Qatar, Russian Agricultural Bank, SWIFT, Thomson Locations: Asia, Astana, Kazakhstan, Sochi Turkey, Russia, MOSCOW, Black, Sochi, Ankara, Ukraine, United Nations, Turkey, Moscow, Istanbul, Burkina Faso, Zimbabwe, Mali, Somalia, Central African Republic, Eritrea, EU, Odesa

☆ Man Utd set for busy deadline day, Man City get Nunes over the line
▼ + stars: | 2023-09-01 | by ( Aadi Nair | ) www.reuters.com time to read: +3 min

Turkish keeper Bayindir was signed for just 4.3 million pounds ($5.41 million), while Spanish left back Reguilon and Morocco midfielder Amrabat's signings are loan deals. Champions City, who have had a 100% start to the Premier League season and top the standings, added another midfielder to their squad with Nunes joining from Wolverhampton Wanderers. Earlier on Friday, 21-year-old winger Cole Palmer moved from Manchester City to Chelsea in a deal reportedly worth 40 million pounds. The transfer fee offered was reportedly 100 million pounds, with a further 50 million in add-ons. ($1 = 0.7946 pounds)Reporting by Aadi Nair in Bengaluru; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: Matheus Nunes, Peter Cziborra, Jonny Evans, Sergio Reguilon, Sofyan Amrabat, Rasmus Hojlund, Mason Mount, Andre Onana, Bayindir, Evans, Nunes, Pep, Kevin De Bruyne, Fati, Tyrone Mings, Clement Lenglet, Cole Palmer, Mason Burstow, Mohamed Salah, Juergen Klopp, Salah, Joao Palhinha, Aadi Nair, Ken Ferris Organizations: Soccer Football, Premier League - Brighton & Hove Albion, Wolverhampton Wanderers, American Express, Manchester United, Altay Bayindir, Manchester City, United, Leicester City, Champions City, Premier League, Portugal, Barcelona, Brighton & Hove Albion, Aston Villa, Chelsea, Championship, Sunderland, Liverpool, Saudi Pro League, Al, Saudi, Bayern, Fulham, Thomson Locations: Brighton, Britain, United, Spanish, Reguilon, Morocco, Manchester, Ittihad, Egypt, Liverpool, Bayern Munich, Germany, Bengaluru

☆ Hojlund ready for United debut at Arsenal, says Ten Hag
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

Soccer Football - Pre Season Friendly - Manchester United v RC Lens - Old Trafford, Manchester, Britain - August 5, 2023 New Manchester United signing Rasmus Hojlund before the match Action Images via Reuters/Jason Cairnduff/File Photo Acquire Licensing RightsSept 1 (Reuters) - Rasmus Hojlund is fit and available for Manchester United and could make his debut in their Premier League game against Arsenal this weekend, manager Erik ten Hag said on Friday. After Dean Henderson joined Crystal Palace on Thursday, United have signed Turkish goalkeeper Altay Bayindir from Fenerbahce. United are strongly linked by British media with a loan deal for Fiorentina midfielder Sofyan Amrabat. "We have done good business, we constructed a strong squad and we are ready to go with the fight. United, with two wins from three games, travel to face Arsenal on Sunday, with the Gunners sitting one point ahead of them in the table.

Persons: Rasmus Hojlund, Jason Cairnduff, Erik ten Hag, Sergio Reguilon, Dean Henderson, Sofyan Amrabat, Trevor Stynes, Toby Davis Organizations: Soccer Football, Manchester United, RC Lens, New Manchester United, Premier League, Arsenal, Atalanta, Emirates, Tottenham Hotspur, Crystal, Turkish, Altay Bayindir, Fenerbahce, Fiorentina, Gunners, Thomson Locations: Trafford, Manchester, Britain, New, Danish, Spanish, Altay

☆ UN chief sends Russia bid to revive Black Sea grain deal
▼ + stars: | 2023-08-31 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

Turkish-flagged bulker TQ Samsun, carrying grain under UN's Black Sea Grain Initiative, is pictured in the Black Sea, north of Bosphorus Strait, off Istanbul, Turkey July 17, 2023. Two Turkish sources told Reuters the pair will meet on Monday and primarily discuss Black Sea grain exports. The Black Sea grain deal was intended to combat a global food crisis that the United Nations said had been worsened by Russia's February 2022 invasion of Ukraine. "We cannot have a Black Sea initiative that moves from crisis to crisis, from suspension to suspension. Russia has said that if demands to improve its own exports of grain and fertilizer were met, it would consider resurrecting the Black Sea agreement.

Persons: Yoruk, António Guterres, Sergei Lavrov, Vladimir Putin, Tayyip Erdogan, Russia's, Guterres, Lavrov, Hakan Fidan, Michelle Nichols, Kanishka Singh, Jonathan Oatis Organizations: REUTERS, UNITED NATIONS, United Nations, Russian, United, Reuters, Turkish, Russian Agricultural Bank, SWIFT, Thomson Locations: Samsun, Bosphorus, Istanbul, Turkey, Russia, United Nations, Ukraine, Russian, Moscow, EU

Below are five charts showing what's been moved and/or shaken:1/SHOCK FOR THE STOCKSMSCI's 24-country emerging markets (EM) stocks index (.MSCIEF) is down 6% this month. It is still up for the year, though well below the 13.5% gain this year for MSCI's main global index, which has benefited from a boom in U.S. "mega-cap" stocks. "The markets that have underperformed are the lower-yielding markets like Asia," Mike Arno, a portfolio manager at Brandywine Global, said. "The market doesn't seem to think that China is a major threat," said Aegon Asset Management's head of EM debt, Jeff Grills. Reuters Graphics5/OUT OF AFRICAThe other big trouble spot has been Africa, where debt markets have seen a sharp pullback.

Persons: Jason Lee, what's, Tayyip Erdogan's, Katherine Marney, Mike Arno, Jeff, Erdogan, Van Eck's, Eric Fine, Viktor Szabo, Szabo, Marc Jones, Rodrigo Campos, Alex Richardson Organizations: REUTERS, Reuters, JPMorgan, Brandywine, FX, HK, EMBI, abrdn, Thomson Locations: Beijing, China, Africa, MIWD00000PUS, Hungary, America, Brazil, Argentina, Asia, TURKEY, Gabon, Niger, JPMorgan's Africa, London, New York

Retail pasta prices rose about 12% this year in Europe and 8% in the United States, according to market research firm Nielsen. CANADA DRYWhen the Prairies turned dry this summer, Canadian farmer Darold Niwa saw hopes of a bumper durum harvest dashed. Durum, the hardest wheat, produces pasta with the prized "al dente" firm texture, unlike soft wheat. In the meantime, Vincenzo Martinelli, president of the durum section of Italian millers association Italmopa, nervously awaits the outcome of the Canadian harvest. "Without Canada, prices will only go up," he said.

Persons: De, Continental Noodles, Vincent Liberatore, Liberatore, Darold Niwa, Jerry Klassen, Philip Werle, There's, Severine, Maisons, Vincenzo Martinelli, Gus Trompiz, Rod Nickel, Emilio Parodi, Ceyda, Julie Ingwersen, Michael Hogan, Caroline Stauffer, David Gregorio Our Organizations: Foods, Nielsen, Grains, CANADA, Prairies, Statistics, Traders, Northstar, European Union, Thomson Locations: Fara San Martino, Italy, PARIS, WINNIPEG , Manitoba, Canada, Turkey, Toronto, Continental, Spain, India, Europe, United States, Oyen , Alberta, durum, Statistics Canada, France, Algeria, TURKEY, Turkish, American, Russia, North Africa, Milan, Ceyda Caglayan, Istanbul, Chicago, Hamburg

☆ Turkey's President Erdoğan is expected to meet Putin in Russia
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTurkey's President Erdoğan is expected to meet Putin in RussiaTurkish President Recep Tayyip Erdoğan is expected to meet President Vladimir Putin in Russia next week to discuss reviving the Black Sea grain deal. CNBC's Dan Murphy reports.

Persons: Erdoğan, Putin, Recep Tayyip Erdoğan, Vladimir Putin, CNBC's Dan Murphy Locations: Russia

☆ Exclusive: Smuggler with ties to ISIS helped migrants enter US from Mexico, raising alarm bells across government
▼ + stars: | 2023-08-29 | by ( Katie Bo Lillis Evan Perez Priscilla Alvarez Natasha Bertrand | Katie Bo Lillis | Evan Perez | ) edition.cnn.com time to read: +11 min

And they are closely scrutinizing a number of the migrants as possible criminal threats, according to two US officials. The security of the southern border has been a political sticking point between Republicans and the Biden administration. John Moore/Getty Images/FILEAdministration officials have also grappled with limited resources as they face a growing number of migrants at the US southern border. In July, border authorities encountered more than 183,000 migrants at the US southern border, according to US Customs and Border Protection data. Both the Biden and Trump administrations have been forced to wrestle with similar cases of suspected terrorists trying to enter the country at the southern border.

Persons: Adrienne Watson, Joe Biden’s, Biden, ” Watson, John Moore, Christopher Wray, ” Wray Organizations: CNN, FBI, ISIS, National Security, Staff, Department of Homeland Security, Turkish, Biden, DHS, Administration, US Customs, Trump, Migrants Locations: Mexico, United States, Uzbekistan, Central Asia, China, Russia, Asia

☆ Meta’s ‘Biggest Single Takedown’ Removes Chinese Influence Campaign
▼ + stars: | 2023-08-29 | by ( Sheera Frenkel | More About Sheera Frenkel | ) www.nytimes.com time to read: +1 min

On Feb. 27, an article claiming that the United States was behind the bombing of the Nord Stream underwater pipelines in the Baltic Sea was published on the Substack and Blogspot blogging platforms. The posts were part of a Chinese influence campaign that stands out as the largest such operation to date, researchers at Meta said in a report on Tuesday. The effort, which the company said had started with Chinese law enforcement and was discovered in 2019, was aimed at advancing China’s interests and discrediting its adversaries, such as the United States, Meta said. In total, 7,704 Facebook accounts, 954 Facebook pages, 15 Facebook groups and 15 Instagram accounts tied to the Chinese campaign were removed by Meta, which owns Facebook, Instagram and WhatsApp. Hundreds of other accounts on TikTok, X, LiveJournal and Blogspot also participated in the campaign, which researchers named Spamouflage, for the frequent posting of spamlike messages, according to Meta’s report.

Persons: —, Meta, Blogspot Organizations: Facebook, Meta Locations: United States, Baltic, Turkish, WhatsApp

☆ The US is making 'irreversible' progress with a former Russian partner in a tense corner of Europe, but not everyone in NATO will be happy
▼ + stars: | 2023-08-29 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +8 min

For Cyprus, it's a move away from its longtime partner in Russia, but Turkey isn't happy about it. Cyprus has made "important strides" in its military and security cooperation with the US, Michalis Giorgallas, Cyprus' minister of defense, told Insider in response to written questions. Giorgallas told Insider. "This trajectory will continue," Giorgallas told Insider, adding that after the National Guard partnership, "our defense cooperation with the US has become irreversible and we look forward to what's to come." Giorgallas told Insider that the area is historically an unstable one and that the instability has become more visible in more domains, such as at sea and in the air over the region.

Persons: it's, Michalis Giorgallas, aren't, ROY ISSA, Panteleyev, Yiannis Kourtoglou, Giorgallas, John Yountz, —, IAKOVOS HATZISTAVROU, Christopher Cavoli, BIROL BEBEK, Constantine Atlamazoglou Organizations: Service, NATO, UN, Getty, Cypriot, Russian Navy, Airbus, US Army, Staff, Military Education, Training, Cypriot National Guard, New Jersey National Guard, National Guard, US European Command, Turkish, Fletcher School of Law, LinkedIn, Twitter Locations: Republic of Cyprus, Cyprus, Russia, Turkey, Wall, Silicon, Europe, East, North Africa, Moscow, Turkish Republic of Northern Cyprus, Ankara, Washington, Crimea, Ukraine, Limassol, AFP, US, Nicosia, Larnaca, John Yountz Cypriot, Cypriot, Greece, Tartus, Northern Cyprus

☆ Jailed US citizen Paul Whelan seen in rare video at Russian penal colony
▼ + stars: | 2023-08-28 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +2 min

Former U.S. Marine Paul Whelan, who was detained and accused of espionage, stands inside a defendants' cage during his verdict hearing in Moscow, Russia June 15, 2020. Arrested in 2018 in Russia, Whelan was convicted of spying charges in 2020 and sentenced to 16 years in a penal colony in Mordovia, a Russian region notorious since Soviet times for its penal colonies. "Today was the first time I've seen what he really looks like since June 2020," his brother David Whelan said in an email. He said the Russia Today had showed up in the prison in May to film Whelan and when he declined to participate, the prison staff retaliated against him. In the video, Whelan tells the questioner that he will not answer his questions.

Persons: U.S . Marine Paul Whelan, Maxim, Paul Whelan, Whelan, Biden, David Whelan, Trevor Reed, Konstantin Yaroshenko, Washington, Brittney, Viktor Bout, Antony Blinken, Evan Gershkovich, Humeyra Pamuk, Josie Kao Organizations: U.S . Marine, REUTERS, Rights, Kremlin, Russia, Wall Street, Thomson Locations: Moscow, Russia, United States, Mordovia, Russian, American, Ukraine, U.S, Yekaterinburg, Gershkovich

Turkey's Central Bank headquarters is seen in Ankara, Turkey in this January 24, 2014 file photo. Yet five foreign investors told Reuters that this week's rate hike signalled a new independence among policymakers who are serious about addressing unrelenting pressure on the currency and reining in inflation expectations. "It feels like they are correcting the mistakes they made with their first rate hike decisions," said Viktor Szabo, portfolio manager at abrdn in London. Erdogan, who has fired four central bank chiefs in four years, has said little about the rate hikes. Reuters GraphicsTurkish stock, Eurobond and CDS markets are more attractive targets this year and next, especially after the rate hike, investors and officials say.

Persons: Umit, Erdogan's unorthodoxy, Mehmet Simsek, Goldman Sachs, Tayyip Erdogan's, Viktor Szabo, Ola El, Van Eck, ERDOGAN, Erdogan, Simsek, Hafize Gaye Erkan, Cevdet Yilmaz, Blaise Antin, TCW, Kaan, Neuberger Berman, Jonathan Spicer, Marc Jones, Jorgelina, Hugh Lawson Organizations: Turkey's Central Bank, Finance, Goldman, Reuters, abrdn, Emerging Markets, Wall Street, JPMorgan, Reuters Graphics, CDS, Yeni, United Nations, International Monetary Fund, Thomson Locations: Ankara, Turkey, ANKARA, LONDON, New York, London, Van, Los Angeles, Reuters Graphics Turkish, Yeni Safak, Morocco, Japan, Singapore, Hong Kong, Istanbul, Rosario

☆ Turkey's Erdogan to visit Russia 'soon' to discuss grain deal
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] Russia's President Vladimir Putin and Turkey's President Tayyip Erdogan meet on the sidelines of the 6th summit of the Conference on Interaction and Confidence-building Measures in Asia (CICA), in Astana, Kazakhstan October 13, 2022. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS Acquire Licensing RightsISTANBUL, Aug 28 (Reuters) - Turkish President Tayyip Erdogan will visit Russia soon to discuss the collapsed United Nations deal that had allowed Black Sea exports of Ukrainian grain, a spokesperson for Turkey's ruling AK Party said on Monday. Ankara is seeking to persuade Russia to return to the agreement, under which Odesa's seaports shipped tens of millions of tons of grain. Omer Celik, the AK Party spokesperson, said Erdogan would visit Russia's Black Sea resort of Sochi "soon" but did not specify whether he would meet Russian President Vladimir Putin. "After this visit there may be developments and new stages may be reached regarding" the grain deal, he told reporters.

Persons: Vladimir Putin, Tayyip Erdogan, Vyacheslav Prokofyev, Moscow, Omer Celik, Erdogan, Putin, Ali Kucukgocmen, Jonathan Spicer, Conor Humphries Organizations: Sputnik, REUTERS Acquire, Rights, United Nations, AK, UN, AK Party, Bloomberg, Thomson Locations: Asia, Astana, Kazakhstan, Rights ISTANBUL, Russia, Turkey, Ankara, Sochi, India

☆ Racist housing practices left Minneapolis with an extreme heat problem. Now, the city is rushing to reverse the lasting effects of environmental racism.
▼ + stars: | 2023-08-28 | by ( Dearbea Walker | ) www.businessinsider.com time to read: +10 min

The city hopes to rectify its history of environmental racism with a new Climate Equity Plan. It was also the only place Black people were allowed to purchase housing in the city. For all these reasons, previously redlined neighborhoods suffer from extreme heat. After years of outcry from activists, the city council submitted a new draft of a 10-year plan, titled the Minneapolis Climate Equity Plan, soliciting public comments. Earlier this year, Portland passed its 43-Step Climate Action Plan, which has similar objectives to the Minneapolis plan.

Persons: redlining, George Floyd, Kerem Yucel, CAPA, Tee McClenty, John Vachon, Franklin D, Anthony Potter, there's, Ulla Nilsen, it's, Darlene Pfister, Nilsen, Jacob Frey, MN350, " Nilsen, Jerry Holt, McClenty Organizations: Minneapolis, Equity, Service, George Floyd Memorial, Getty, Loan Corporation, District, Roosevelt's, City Hall, Star Tribune, Minneapolis Climate Equity Locations: Minneapolis, Minnesota, Kerem, AFP, homeownership, Negro, Portland , Oregon, Portland

Since 2007, worldwide public debt has ballooned from 40% to 60% of GDP, on average, with debt-to-GDP ratios even higher in the advanced countries. That includes the United States, the world's biggest economy, where government debt is now more than double the nation's yearly economic output. Reuters GraphicsDespite mounting worries about the growth-crimping implications of high debt, "debt reduction, while desirable in principle, is unlikely in practice," Serkan Arslanalp, an economist at the International Monetary Fund, and Barry Eichengreen, an economics professor at the University of California, Berkeley, wrote in a paper. Inflation, unless it surprises to the upside over an extended period, does little to reduce debt ratios, and debt restructuring for developing countries has become more elusive as the pool of creditors has broadened, Arslanalp and Eichengreen wrote. "High public debts are here to stay," they wrote.

Persons: Dado Ruvic, Jackson, Barry Eichengreen, Eichengreen, Ann Saphir, Paul Simao Organizations: REUTERS, Kansas City Federal, International Monetary Fund, University of California, Thomson Locations: Saudi, , Wyoming, Jackson Hole , Wyoming, United States, Berkeley

☆ Europe’s summer of extremes triggers health warnings, nuclear output fears and shipping disruption
▼ + stars: | 2023-08-25 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Europe's protracted battle with extreme weather conditions comes shortly after official data showed July was the hottest month in history. To be sure, the climate emergency — which is primarily driven by the burning of fossil fuels — is making extreme weather and its impacts more frequent and more intense. People stand at an overflooded petrol station in Gjovik on August 11, 2023 after extreme weather with heavy rain hit south-east Norway. This gives us the long-term context for the increasing occurrence and severity of such extreme weather and extreme events." On the same day, France issued an extreme heat warning for four regional departments in the southern regions of Rhone, Drome, Ardeche and Haute-Loire.

Persons: Angelos Tzortzinis, Alvaro Silva, Heiko Junge, Silva, Christophe Archambault, Nero, sweltering, Fabrice Coffrini Organizations: Sikorsky, Afp, Getty, EDF, Turkish, Meteorological Organization, Firefighters, Reuters Locations: Acharnes, Athens, Europe, Greece, French, Italy, Norway, Gjovik, Alexandroupolis, France, Rhone, Drome, Ardeche, Haute, Loire, Bordeaux, Sardinia, Dardanelles, Switzerland

One group of seven to eight bodies were found huddled together in what appeared to be a final embrace. Vegetation that was meant to offer protection to evade the Greek police turned into a death trap. The only spot of colour in the area where the bodies were found were two blue medical gloves left behind by investigators. At the morgue, Pavlidis has collected DNA samples from the bodies, the only way they will ever be identified. Fires in the area are still burning and Hatzigeorgiou fears more bodies will be found in the forest.

Persons: Pavlos Pavlidis, George Hatzigeorgiou, Hatzigeorgiou, honked, they'd, We've, I've, Adriana Tidona, Pavlidis, Lefteris Papadimas, Karolina Tagaris, Andrew Heavens Organizations: European Union, United, Turkish, UNHCR, Amnesty International, Thomson Locations: EVROS, Greece, ATHENS, Turkey, Avantas, Europe, Libya, East, Asia, United Nations

☆ Dollar rises ahead of Jackson Hole gathering
▼ + stars: | 2023-08-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

"But the reaction to them was pretty muted overall, suggesting the Jackson Hole symposium is the main thing on the markets' mind," he said. Elsewhere, the Turkish lira rallied to a 2-month high against the dollar, up about 6% to 25.55 against the dollar after the Turkish central bank hiked the 1-week repo from 17.5% to a much-higher-than expected 25%. According to the median estimate in a Reuters poll, economists were expecting the policy rate to increase to 20%. Turkey's central bank embarked on a tightening cycle in June after President Tayyip Erdogan appointed former Wall Street banker Hafize Gaye Erkan as governor. The dollar was 0.7% higher against the yen , not far from the 9-month high 146.565 touched last week.

Persons: Dado Ruvic, Jerome Powell's, Jackson, Stuart Cole, Powell, Cole, Patrick Harker, Susan Collins, Tayyip Erdogan, Hafize Gaye Erkan, Piotr Matys, Saqib Iqbal Ahmed, Joice Alves, Tom Westbrook, Ankur Banerjee, Angus MacSwan, Andrea Ricci, Nick Zieminski Organizations: REUTERS, Jackson, Equiti, Federal Reserve, Philadelphia Fed, Boston Fed, U.S, Turkish, Wall Street, Touch Capital, Bank of England, Thomson Locations: London, Europe, Turkish, British

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Profit-taking weighed on shares across the board, with the MSCI All Country stock index (.MIWD00000PUS) down 0.36%. Profit-taking also took hold in Europe, where European stocks (.STOXX) gave up earlier gains to edge down 0.37%. EASING YIELDSGovernment bond yields eased, adding to a sense of relief across markets. In currency markets, the dollar index, which measures the greenback against a basket of six other major currencies , added 0.474%, and remains higher over the month.

Persons: Brendan McDermid, Dow Jones, Jerome Powell, Patrick Harker, Harker, Robert Alster, Zhang Zihua, Koh Gui Qing, Tom Wilson, Julie Zhu, Kirsten Donovan, Matthew Lewis Organizations: New York Stock Exchange, REUTERS, Nasdaq, Investors, Federal, Federal Reserve Bank of Philadelphia, CNBC, Profit, Asset Management, Nvidia, Beijing Yunyi Asset Management, Brent, . West Texas, Hong, Thomson Locations: New York City, U.S, United States, Jackson Hole , Wyoming, Europe, Turkish, Asia, Pacific, Japan, China, Beijing, New York, London, Hong Kong

☆ Dollar rises ahead of Jackson Hole, Turkish lira rallies
▼ + stars: | 2023-08-24 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsLONDON, Aug 24 (Reuters) - The dollar rose on Thursday as investors awaited for U.S. job data ahead of the Federal Reserve's Jackson Hole symposium, while the Turkish lira rallied after a larger-than-expected central bank rate hike. Investors were cautious after softer-than expected data in Europe and the U.S. muddied the economic outlook sending the safe-haven dollar higher. "As the Jackson Hole symposium gets under way, market participants are looking for direction," said Isabel Albarran, Investment Officer at Close Brothers Asset Management. MORE COULD COMEElsewhere, the Turkish lira rallied, up 3% to 26.4040 against the dollar after the Turkish Central Bank hiked the 1-week repo from 17.5% to a much-larger-than expected 25%. Turkey's central bank embarked on a tightening cycle in June after President Tayyip Erdogan appointed former Wall Street banker Hafize Gaye Erkan as governor.

Persons: Dado Ruvic, Jackson, Jerome Powell, Isabel Albarran, Tayyip Erdogan, Hafize Gaye Erkan, Piotr Matys, Moh Siong Sim, China's, Joice Alves, Tom Westbrook, Ankur Banerjee, Angus MacSwan Organizations: REUTERS, Federal, Turkish, U.S, Investors, Investment, Asset Management, Turkish Central Bank, Wall Street, Touch Capital, British, Bank of England, PMI, Singapore, Thomson Locations: Europe, London

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 23, 2023. U.S. stocks ended sharply higher on Wednesday and shares of Nvidia jumped nearly 10% in trading after the bell, hitting an all-time high. EASING YIELDSGovernment bond yields eased, adding to a sense of relief across markets. Euro zone yields hit multi-week lows with Germany's 10-year yield 1.5 bps lower at 2.50%, having touched a 2-week low of 2.448%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 1.5% higher, also lifted by Nvidia's bullish outlook.

Persons: Chipmakers, Jerome Powell, Robert Alster, Zhang Zihua, Tom Wilson, Julie Zhu, Toby Chopra, Kirsten Donovan Organizations: REUTERS, Staff, Federal, Asset Management, Nvidia, Beijing Yunyi Asset Management, Thomson Locations: Frankfurt, Germany, Jackson Hole , Wyoming, U.S, Turkish, United States, Asia, Pacific, Japan, China, Beijing, London, Hong Kong

The surprise move leaves the policy rate at its highest level since 2019, and sent the Turkish currency to its strongest level since mid-July. The bank has raised its one-week repo rate (TRINT=ECI) by 1,650 basis points since June. The lira had touched new all-time lows almost daily in recent weeks, including in the minutes before the policy decision. The central bank said that rising oil prices and a deterioration in inflation expectations suggests that inflation will end the year at the upper bound of its forecasts. The central bank has also selectively tightened credit.

Persons: Tayyip Erdogan, Piotr Matys, Dado Ruvic, Erdogan, Hafize Gaye Erkan, Osman Cevdet Akcay, Fatih Karahan, Hatice, Ezgi Erkoyun, Christina Fincher, Angus MacSwan Organizations: Analysts, Istanbul bourse, Touch, Turkey Lira, REUTERS, Wall Street, Thomson Locations: ISTANBUL, Istanbul, Ankara

☆ Turkey’s Central Bank Raises Rates to Near Two-Decade High
▼ + stars: | 2023-08-24 | by ( Aaron Boxerman | ) www.nytimes.com time to read: +1 min

Turkey’s central bank raised interest rates to 25 percent from 17.5 percent on Thursday, a big jump that underscored a shift by the country’s president, Recep Tayyip Erdogan, toward a more orthodox monetary policy to control inflation that exceeded an annual rate of 80 percent last year. The size of the increase, which put the benchmark rate at its highest level since 2004, was bigger than expected, exceeding forecasts from financial analysts, who had predicted a more modest jump after July’s 2.5 percent rise. After the announcement, the Turkish lira quickly rallied, briefly rising more than 7 percent against the U.S. dollar. It was trading at 25.6 per dollar by early evening in Turkey. In a statement, the Turkish central bank said it had “decided to continue the monetary tightening process in order to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior.”

Persons: Recep Tayyip Erdogan, “ Organizations: U.S . Locations: Turkish, Turkey

☆ Turkey shocks with big rate hike to 25% to cool raging inflation
▼ + stars: | 2023-08-24 | by ( ) edition.cnn.com time to read: +2 min

Turkey’s central bank hiked its key interest rate by a surprisingly large 7.5 percentage points to 25% Thursday, signaling a new determination to address rebounding inflation as part of a broader policy U-turn. The poll, conducted last week, showed that interest rates were not expected to rise to 25% until the end of the year. The rate hike “sends a very strong signal that the [bank] is determined to rein in inflation and the initial market response is very positive,” said Piotr Matys, senior FX analyst at In Touch Capital Markets. Erdogan’s past drive to slash interest rates sparked a currency crisis in late 2021 and sent inflation above 85% last year. The currency is down about 68% in two years largely due to Erdogan’s previously outspoken opposition to high rates and influence over the central bank.

Persons: Tayyip Erdogan, ”, Piotr Matys, “, Erdogan, ” Erdogan, Hafize Gaye Erkan, — Osman Cevdet Akcay, Fatih Karahan, — Organizations: Analysts, Touch, Wall Street

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