The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Biden had criticized Kim Jong Un as a "dictator" and a "tyrant" at a recent rally in Philadelphia. North Korean state media responded by calling Biden a "fool of low IQ" among...Politicsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
(Adds shares, banks, bonds)
ISTANBUL, May 14 (Reuters) - Turkey's lira firmed slightly on Tuesday as investors weighed up reports that Ankara was evaluating Washington's proposal to delay delivery of Russian defence systems and state banks continued to sell dollars to support the currency.
The currency has been battered this year on worries that Ankara's push to purchase Russian S-400 missile defence systems could lead to sanctions from Washington.
But a source said on Monday the United States had asked Turkey to delay the delivery, scheduled for July, which could lead to an improvement in relations between the NATO allies. However, a senior Turkish official said Ankara's position had not changed.
The lira stood at 6.0270 against the dollar at 1330 GMT, nearly 0.5% stronger than Monday's close of 6.0550.
More clarity on a deal between Ankara and Washington is needed for the lira to rally, said Jason Tuvey, senior emerging markets economist at Capital Economics.
"Developments in the global economy are dominating swings in the lira and this was set off yesterday in line with other emerging markets currencies," he said.
Separately, industrial production fell a less-than-expected 2.2% annually in March, logging its seventh consecutive month of declines after the economy tipped into recession last year. Month-on-month, it was up 2.1% on a calendar and seasonally adjusted basis, data showed.
The Treasury tapped its two-year benchmark bond at a yield of 25.31, marking a rise of nearly six percentage points since a similar issue in March.
The lira is currently down nearly 13 percent against the dollar this year, with the most recent selloff sparked by the decision to re-run mayoral elections in Istanbul.
After slipping as far as 6.2460, its weakest in more than seven months, following last week's ruling by the electoral board, the lira recovered ground as state banks sold billions of dollars to support the currency.
Turkish state banks continuously supplied foreign currency to the market on Monday and Tuesday, traders said.
Total foreign currency sales to the market on Monday amounted to $1 billion, sources told Reuters.
The government is putting pressure on all aspects of the state to try to support the lira before the Istanbul poll is re-run on June 23, Tuvey said.
"It is only so far that the banks can do this given they've already drawn down their foreign currency assets quite a lot over the past year," he said.
Last week, banks sold a total of $4.5 billion as the central bank suspended repo auctions and took additional liquidity steps.
The main share index was up 1.32%, while the banking index rose 3.21%.
Turkey's dollar-denominated sovereign bonds rose, supported by the strengthening lira. The government's 2030 bond climbed as much as 1.3 cents in the dollar while most other bonds rose between 0.2 and 0.9 cents, Tradeweb data showed. (Reporting by Ali Kucukgocmen; Editing by Catherine Evans and Andrew Cawthorne)