Latest Banking and credit News

Manafort chooses not to testify as defense rests its case

Aug. 14, 2018 5:34 PM EDT

ALEXANDRIA, Va. (AP) — Paul Manafort's defense rested its case Tuesday without calling any witnesses in the former Trump campaign chairman's tax evasion and bank fraud trial. Manafort himself chose not to testify. The decision not to call witnesses clears the way for the jury to hear closing arguments in...

Turkish leader talks big, but can be pragmatic in crises

Aug. 14, 2018 12:39 PM EDT

ISTANBUL (AP) — The man at the center of Turkey's currency crisis and feud with the United States — President Recep Tayyip Erdogan — is unleashing the same combative rhetoric that powered him through other grave challenges in his 16 years as the increasingly authoritarian leader of a key NATO...

The Latest: Turkey says it will help firms hit by turmoil

Aug. 14, 2018 11:49 AM EDT

ANKARA, Turkey (AP) — The Latest on Turkey's currency crisis (all times local): 5:25 p.m. Turkey's finance minister says his government is working on steps to help banks and support companies affected by the currency crisis. Treasury and Finance Minister Berat Albayrak said: "We will make all kinds of...

Turkey's Erdogan vows US boycott, but diplomats resume talks

Aug. 14, 2018 11:47 AM EDT

ANKARA, Turkey (AP) — Turkey's president appeared to escalate a dispute with the United States that has helped foment a Turkish currency crisis, claiming Tuesday that his country will boycott U.S.-made electronic goods. Behind the scenes, however, diplomats resumed contact to ease tensions. Addressing a...

Global markets stabilize as Turkey jitters ease

Aug. 14, 2018 8:17 AM EDT

BEIJING (AP) — Most global stock markets steadied Tuesday as worries subsided over Turkey's currency crisis and its potential impact on other countries. KEEPING SCORE: Germany's DAX rose 0.2 percent to 12,376 and France's CAC 40 was up less than 0.1 percent to 5,414 after economic growth figures for the...

Asian markets mixed after Wall St falls on Turkey jitters

Aug. 14, 2018 12:25 AM EDT

BEIJING (AP) — Most Asian stock markets were mixed Tuesday after Wall Street declined as Turkey's central bank struggled to contain a currency crisis that is feeding fears about other emerging markets. KEEPING SCORE: The Shanghai Composite Index fell 0.5 percent to 2,771.81 and Hong Kong's Hang Seng lost...

Prosecution rests in Manafort tax evasion and fraud trial

Aug. 13, 2018 10:28 PM EDT

ALEXANDRIA, Va. (AP) — Prosecutors on Monday rested their tax evasion and bank fraud case in the trial of former Trump campaign chairman Paul Manafort, closing two weeks of testimony that depicted him as using millions of dollars hidden in offshore accounts to fund a luxurious lifestyle — and later...

Questions loom over Tesla deal after CEO reveals Saudi link

Aug. 13, 2018 6:20 PM EDT

SAN FRANCISCO (AP) — Tesla CEO Elon Musk's elaboration on his plan to engineer a buyout of the electric car maker could get the Silicon Valley maverick into legal trouble by revealing that the deal is far more uncertain than how he initially described it in his brash tweet last week. If everything falls...

The Latest: Manafort judge closes court for sealed motion

Aug. 13, 2018 5:51 PM EDT

ALEXANDRIA, Va. (AP) — The Latest on Paul Manafort's financial fraud trial (all times local): 5:45 p.m. The judge in Paul Manafort's financial fraud trial has closed the courtroom from the public while he hears argument on a sealed motion filed by the former Trump campaign chairman. U.S. District Judge...

How major US stock indexes fared Monday

Aug. 13, 2018 5:01 PM EDT

U.S. stocks fell further Monday as Turkey's central bank was unable to stop a steep plunge in the nation's currency. That's helping to push the dollar higher, hurting big exporters. On Monday: The S&P 500 index slipped 11.35 points, or 0.4 percent, to 2,821.93. The Dow Jones Industrial Average gave up 125.44...