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  • Lira Plummets On Turkey's Plans To Transfer $6.6 Billion From Central Bank

    With the Turkish Lira soaring on Friday, on what in retrospect turned out to be massive, FX-draining commercial bank intervention in the currency market, some TRY bulls were hopeful that their endless, currency crushing anguish may have been finally over, if only for the time being. Alas, it was not meant to be, and the lira resumed its collapse on Monday, with the move sharply lower sparked by a Reuters report that Turkey is about to officially become a banana republic in which the central bank...

    Zero Hedge
  • Alibaba Cloud hits annual revenue run rate tops $4.4 billion

    Alibaba Cloud continues to gain traction and enterprise customers as it now represents 7 percent of the Chinese e-commerce giant's revenue.

    ZDNet
  • After Losing Nearly $4 Billion Last Year, Postal Service on Track to Lose $7 Billion This Year

    The U.S. Postal Service lost more than $2 billion during the second quarter of the fiscal year, putting it on track to finish the current year more than $7 billion in the red—way worse than the nearly $4 billion in losses it posted last year. In its quarterly fiscal report, published today, the Post Office reported small decreases in mail volume and overall revenue compared to the same quarter of 2018. Its big losses are driven by a sharp increase in expenses, primarily workers' compensation...

    Reason.com