The value of Iran's currency — which had been sliding steadily for months — took another plunge this week. Faced with new economic sanctions from the U.S. and Europe, the rial now seems to be in free fall.
But at least part of the dive could be linked to currency manipulation by the government itself in an effort to fund candidates in upcoming elections.
In images posted on the Internet, hundreds of Iranians are seen gathered outside the headquarters of the Bank Melli in Tehran Monday. They wanted to buy dollars, but there were no dollars to be had.
Just four years ago, Starbucks seemed to be losing its mojo. Howard Schultz, the man who made Starbucks a household name, returned to the company as CEO. He closed hundreds of stores, streamlined operations and set the company on a path to record revenues and strong profits.
Starbucks serves 60 million beverages a week, which adds up to big profits. The company reports its earnings Thursday. In a bid to further expand its consumer base, Starbucks has a new roast and plans to produce more retail products to sell outside of its coffeehouses.
A day after delivering his State of the Union address to Congress, President Obama took his message on the road. Obama hoped that stops at manufacturing sites in Iowa and Arizona would drive home his point that the government should do more to encourage factory jobs.
The three-day trip also includes stops in Colorado, Nevada and Michigan. Those are all states likely to be important in the November election.
Obama kicked off his road trip at Conveyor Engineering and Manufacturing, a factory in Cedar Rapids, Iowa.
In a statement timed for release at the end of their most recent meetings, Fed policymakers also said they expect economic growth in coming quarters "to be modest," that the jobless rate will "decline only gradually" and that inflation will run "at ... or below" levels the central bank wants to see.