TRYing times: The slide and fall of the Turkish lira

By Marc Jones LONDON (Reuters) -Turkey’s lira took a 7% nosedive on Wednesday as the country’s newly re-elected government appeared to be abandoning its costly 18-month strategy of keeping the currency on a tight leash by any means necessary. Ankara has seen decades of financial market difficulties and the charts below show the challenges the…

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El Salvador slashes size of Congress ahead of elections

By Nelson Renteria SAN SALVADOR (Reuters) -El Salvador’s president signed into law an electoral reform on Wednesday that reduces the size of Congress by nearly a third, a move the ruling party says will reduce spending and critics say consolidates power ahead of elections. The reform, announced last week by President Nayib Bukele in an…

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DeSantis defends migrant flights in trip to US-Mexico border

By James Oliphant (Reuters) – Florida Governor Ron DeSantis defended flying planeloads of migrants across the country during a trip to the U.S. southern border on Wednesday, as he looks to make hardline immigration policies a central tenet of his 2024 presidential bid. The Republican candidate’s stop in Arizona came a day after the state…

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Bank failures, ‘hard landing’ still top-of-mind for hedge funds

By Carolina Mandl and Davide Barbuscia NEW YORK (Reuters) -Big U.S. hedge fund and family office investors on Wednesday cautioned that despite the U.S. economy showing resilience, a recession and more bank failures remained likely in an environment of persistent inflation. U.S. investor Stanley Druckenmiller, chairman and chief executive officer at Duquesne Family Office, said…

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Biden nominates former Florida governor Crist to international aviation post

WASHINGTON (Reuters) – President Joe Biden is nominating former Florida Governor Charlie Crist to serve as U.S ambassador to the International Civil Aviation Organization (ICAO), the White House said on Wednesday. Crist, a former House lawmaker who lost an election in November to Florida Governor Ron DeSantis in a bid to return to his old…

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Serbia’s PM Ana Brnabic says she is willing to resign amid opposition protests

BELGRADE (Reuters) – Serbia’s Prime Minister Ana Brnabic said on Wednesday she was willing to resign to test popularity of the ruling coalition, following weeks of opposition protests. For five consecutive weeks, tens of thousands of people have gathered for weekly anti-government rallies in Belgrade, blaming a culture of violence for the deaths of 18…

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