Two young people have been arrested in an alleged plot to attack a Texas synagogue that involved driving through the congregation to "kill as many Jews as possible," according authorities. (Image credit: Paul Sancya)
Two young people have been arrested in an alleged plot to attack a Texas synagogue that involved driving through the congregation to "kill as many Jews as possible," according authorities. (Image credit: Paul Sancya)
At first, it was just a curiosity in Turkey’s financial circles: An obscure brokerage firm with a stock that went up and up. As the months went by last year, though, the gains in shares of Tera Yatirim Menkul Degerler AS just kept coming, over and over, in staggering amounts — 54%, 108%, 61%, 73%. Even in Turkey, long a hotbed of speculative manias , the sheer pace and scope of the surge — now tot...
At first, it was just a curiosity in Turkey’s financial circles: An obscure brokerage firm with a stock that went up and up. As the months went by last year, though, the gains in shares of Tera Yatirim Menkul Degerler AS just kept coming, over and over, in staggering amounts — 54%, 108%, 61%, 73%. Even in Turkey, long a hotbed of speculative manias , the sheer pace and scope of the surge — now totaling almost 40,000% since Tera’s 2022 initial public offering — stunned investors and sparked a fascination with the financial alchemy that seems to have powered it. To this day, not all the details are fully understood, but a picture has emerged of a firm taking unconventional steps that appear to have fueled a surge in the value of its own stock, according to finance experts who’ve looked at the trading. While the shares have started to slide this week, Tera still has a market value of $4.5 billion, making it one of Turkey’s most valuable companies despite having only about 130 employees. At times this year, the firm has been worth more than global players with thousands of employees such as Lazard Inc. and BGC Group Inc. At the heart of the business is its flagship investment fund, which has gained a cult following on social media for minting astronomical returns: more than 1,500% in the past year alone. It achieved those results by pouring billions of lira into a tight circle of related companies and amplified the bets with borrowed cash. The fund amassed stakes in Tera itself, as well as Tera subsidiaries and companies that Tera’s brokerage has helped take public. Tera’s multiple roles may create “layered conflicts of interest” that amount to “high-risk structural conditions,” said Orkun Saka , a lecturer at City St. George's, University of London who’s studied Turkey’s economy. The fund’s purchases “push up affiliated stock prices, which inflates the fund's net asset value, which makes the fund management business appear more valuable, which elevates the parent compa...
Microsoft and Meta, the company behind Instagram and WhatsApp, are planning to cut big chucks from their respective workforces as spending on artificial intelligence (AI) finds a new high gear. Meta said it was laying off about 8,000 workers, or about 10% of its workforce, in a bid to make efficiency savings as it ramps up investment. Meta had previously told investors that spending would top $160...
Microsoft and Meta, the company behind Instagram and WhatsApp, are planning to cut big chucks from their respective workforces as spending on artificial intelligence (AI) finds a new high gear. Meta said it was laying off about 8,000 workers, or about 10% of its workforce, in a bid to make efficiency savings as it ramps up investment. Meta had previously told investors that spending would top $160bn during 2026 - up from just shy of $120bn last year.
India’s government is leaning on its refineries to survive an acute shortage of cooking gas as the war in Iran drags on, while also scouring the world for additional suppliers and nudging consumers toward alternatives. Still, with cargoes of liquefied petroleum gas trapped in the Persian Gulf, the country has yet to find enough supply to meet pre-crisis demand — exposing a major energy vulnerabili...
India’s government is leaning on its refineries to survive an acute shortage of cooking gas as the war in Iran drags on, while also scouring the world for additional suppliers and nudging consumers toward alternatives. Still, with cargoes of liquefied petroleum gas trapped in the Persian Gulf, the country has yet to find enough supply to meet pre-crisis demand — exposing a major energy vulnerability, forcing prices up and pushing out some consumers entirely . India has raised local output by over a fifth since strikes on Iran began in February, to about 46,000 tons a day. That will rise to 50,000 tons after Nayara Energy Ltd.’s refinery restarts in May after a period of maintenance, according to the oil ministry. Refiners have also secured about 650,000 tons of additional supply for May, roughly 21,000 tons a day, including record volumes from the US, according to people familiar with the matter. They asked not to be named as the issue is not public. “India has been facing challenges in LPG but the government has taken several steps,” Sujata Sharma, joint secretary in the oil ministry, said Thursday. “Enough cargoes have been tied up.” That total, however, is still well below the 100,000 tons that India — the world’s second-largest consumer of LPG — consumed daily before the crisis. A historic energy crisis has rippled across Asia over the past two months, with countries struggling to manage shortages of crude, LPG and liquefied natural gas, as well as spiking prices. India has ordered state refiners to maximize production of low-margin LPG at any cost, and has cut supplies to the commercial sector to 70% of normal levels in order to protect households. LPG cylinder refill times have lengthened. The government has pushed more consumers to switch to piped gas — which comes from domestic sources — while also relaxing pollution rules to allow coal and kerosene. But change is slow, after years of government campaigns to get consumers to use LPG cylinders as a cleaner al...
(RTTNews) - Telia Co. AB (TLSNF, TELIA.ST), a Swedish telecommunications company, on Friday reported its first quarter net income increased compared with the previous year. The company also reiterates full year 2026 service revenue outlook.
(RTTNews) - Telia Co. AB (TLSNF, TELIA.ST), a Swedish telecommunications company, on Friday reported its first quarter net income increased compared with the previous year. The company also reiterates full year 2026 service revenue outlook.
(RTTNews) - Electrolux AB (ELUXY.PK), a Swedish home appliances maker, reported Friday a loss in its first quarter, compared to prior year's profit, on one-time charge and weak sales amid increased costs for U.S. tariffs and slowdown in demand.
(RTTNews) - Electrolux AB (ELUXY.PK), a Swedish home appliances maker, reported Friday a loss in its first quarter, compared to prior year's profit, on one-time charge and weak sales amid increased costs for U.S. tariffs and slowdown in demand.