Ambar Warrick

I am a journalist with more than five years of experience covering a variety of topics across financial markets.

My work covers a diverse range of topics- from foreign exchange in developing countries, to some of the largest companies in Wall Street.
Reuters •

Turkish lira at record low as central bank cuts rates

Dec 16 (Reuters) - Turkey's lira sank to record lows on Thursday after the central bank cut rates as expected, while most other emerging market stocks and currencies rose on easing uncertainty over the U.S. Federal Reserve.

The lira sank more than 5%, crossing 15 to the dollar as the bank cut rates by 100 basis points (bps) to 14%. But the bank also signalled that it would pause its easing cycle, saying it decided to complete the use of the limited room available to cut. read more

The bank has
U.S. •

UPDATE 1-Australia's CBA exits China insurer with $503 mln stake sale to Mitsui

May 23 (Reuters) - Commonwealth Bank of Australia (CBA) is selling its 37.5 percent stake in a Chinese life insurer to Japan’s Mitsui Sumitomo Insurance Co for 3.2 billion yuan ($502.67 million), in a bid to simplify its portfolio and focus on its core banking business.

CBA said on Wednesday it will record an after-tax gain of about A$450 million ($341.01 million) on the sale of the stake in BoComm Life Insurance, which it jointly owns with China’s Bank of Communications Co Ltd.

Mitsui Sumitom
U.S. •

After Facebook change, Big Tech's FAANG considers toothless MAANG

Facebook’s rebranding to Meta Platforms has launched a search for a new name for the high-flying FAANG group that also includes Apple, Amazon.com, Netflix and Alphabet.

Facebook on Thursday announced it is now called Meta Platforms here as the social media company shifts to building the ambitious "metaverse", a shared virtual environment. The name change comes after a damaging whistleblower report and criticism from lawmakers and regulators over its market power.

The most popular suggestion on
Reuters •

Morgan Stanley boosts targets after blowout trading quarter

Jan 20 (Reuters) - Morgan Stanley (MS.N) boosted both its short and long-term operating targets on Wednesday after coronavirus-induced volatility in financial markets helped the Wall Street bank post a quarterly profit that sailed past estimates.

The company also confirmed plans to buy back $10 billion of shares this year, more than three times the figures announced by its retail banking peers, as it wrapped up results for U.S. lenders, which pointed to a modest rebound in the economy.

"We are
Reuters •

European shares suffer worst day in 17 months on virus fears

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 23, 2021. REUTERS/Staff

Nov 26 (Reuters) - European stocks plummeted amid widespread selling on Friday, as reports of a newly identified and possibly vaccine-resistant coronavirus variant stoked fears of a fresh hit to the global economy and drove investors out of riskier assets.

The benchmark STOXX 600 index (.STOXX) ended 3.7% down in its worst session since June 2020, while the volatilit
Reuters •

Wall Street advances but investors on edge with Omicron, inflation worries

A Wall Street sign is pictured outside the New York Stock Exchange amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File Photo

Dec 1 (Reuters) - The S&P rose on Wednesday after the previous session's tumble but pared much of its gains by late afternoon as investors were still jittery about the latest coronavirus variant, surging inflation and U.S. Federal Reserve policy.

After advancing as much as