ELECTRONICS GIANT VESTEL IN SEVERE FINANCIAL DISTRESS
Electronics and home appliances exporter Vestel Elektronik faces growing financial pressure as Moody’s cut its long-term rating and warned of a very high risk of default.
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FUND CRISIS HAMMERS MARKETS, SPARKS INTERVENTION
The central bank and other regulator bodies stepped in to stabilize financial markets after alleged market manipulation, fraud and fund mismanagement sparked a major equity sell-off and corporate defaults.