The Turkish lira hit record lows against the dollar Thursday after President Recep Tayyip Erdogan fired senior central bank officials, heightening concerns over the Turkish leader's interference in the bank's activities.

Erdogan dismissed deputy central bank governors Semih Tumen and Ugur Namik Kucuk as well as Abdullah Yavas, a member of the bank's monetary policy committee, according to the Official Gazette. He appointed Taha Cakmak as a deputy governor and Yusuf Tuna as a member of the monetary policy committee.

Drilling by ExxonMobil set for late next month to confirm how much natural gas is contained in a sizable deposit off Cyprus' southwestern coast will map out how the fuel will reach potential markets in Europe and Asia, the island nation's energy minister said on Wednesday.

Minister Natasa Pilides says the "significant" drilling at the 'Glaucus-1' well inside block 10 of Cyprus' exclusive zone scheduled to start in 6-8 weeks will determine if the deposit is at the higher or lower end of its estimated size of 5-8 trillion cubic feet (142-227 billion cubic meters) of natural gas.

U.S. safety investigators want to know why Tesla didn't file recall documents when it updated Autopilot software to better identify parked emergency vehicles, escalating a simmering clash between the automaker and regulators.

In a letter to Tesla, the National Highway Traffic Safety Administration told the electric car maker Tuesday that it must recall vehicles if an over-the-internet update mitigates a safety defect.

A logjam at the U.K.'s busiest commercial port ratcheted up concerns Wednesday that the country could see an array of shortages in the crucial Christmas trading period, including of toys and food.

Worries have mounted over recent weeks that the U.K.'s economic recovery is being hobbled by widespread shortages, which have been most clearly seen in long lines at gas stations and some empty shelves at supermarkets.

The European Union's executive branch advised the 27 EU member countries Wednesday to adopt tax cuts, state aid and other measures to help households and businesses weather the impact of high energy prices that have fueled a renewed debate on the use of nuclear power.

After months of economic instability linked to the coronavirus pandemic, the European Commission wants a rapid and joint response to mitigate the effects of the price hikes, especially for people living in poverty or on low incomes.

The Biden administration says the United States will reopen its land borders for nonessential travel next month, ending a 19-month freeze due to the COVID-19 pandemic.

New rules to be announced Wednesday will allow fully vaccinated foreign nationals entry to the U.S. regardless of the reason for travel.

The Lebanese pound sold for more than 20,000 to the dollar on Wednesday, losing almost all the value it regained following the announcement of a new government last month.

The pound, officially pegged at 1,500 to the greenback since 1997, has lost more than 90 percent of its black market value since the start of an unprecedented economic crisis in 2019.

The de-facto leader of South Korea's sprawling Samsung group Lee Jae-yong went on trial Tuesday on charges of illegally using the anesthetic propofol, the latest legal travail to beset the multi-billionaire.

Lee -- the vice-chairman of the world's biggest smartphone maker Samsung Electronics and according to Forbes the world's 297th richest person -- is accused of having repeatedly taken the anesthetic at a plastic surgery clinic in Seoul in 2017 and 2018.

President Emmanuel Macron on Tuesday announced a plan worth 30 billion euros ($35 billion) to re-industrialize France, saying the country should reclaim its crown as a global leader in innovation.

Speaking at the Elysee Palace six months before a presidential election and one month ahead of a U.N. climate summit, Macron said France had taken key decisions "15-20 years later than some of our European neighbors" and now needed "to become a nation of innovation and research again."

World shares retreated on Tuesday as surging prices of oil, coal and other energy added to concerns over inflation.

Benchmarks fell in Paris, Frankfurt, Tokyo, Hong Kong and Shanghai. Oil prices extended gains, having closed above $80 per barrel in New York after trading briefly above $81 per barrel on Monday for the first time in seven years.