#29 Daily Financial News Round Up - Nov 29,2021
What news caught my attention?
Hertz announced a share repurchase plan worth about $2 billion. Share repurchases are perceived as good news by the market, indicating that the company’s financial health is in good or even excellent standing.
Turkey is dealing with a currency crisis, and one possible reason for this crisis is the country’s dependence on foreign oil. The country imports around 93% of the oil and 99% of the gas it consumes. An increase in oil price adversely impacts the Turkish lira as a result.
Omicron concerns increase volatility in the financial markets, causing the prices to slide.
My Takeaways:
Turkey is in the midst of a currency crisis.
Another variant of Covid sparks concerns.