Erdogan ousts ‘Made in Turkey’ to boost trade as lira plummets
All Turkish goods intended for export are now to be labeled “Made in Türkiye” instead of the previously used “Made in Turkey.” “Türkiye” will also be used in correspondence with the country’s foreign partners, including states and organizations. Collapsing currency leads to mass protests (VIDEOS) The move comes as part of “the complex step reflecting the rich culture and heritage of the country,” Turkey’s official legislative journal Resmi Gazete reported on Saturday.The relabeling drive is in line with the efforts of the Erdogan-led government to boost Turkish exports and thus increase the inflow of US dollars into the country’s flattening economy.Turkey’s annual inflation surged … [READ MORE...]
CNN Fires Chris Cuomo Over Role in Andrew Cuomo’s Scandal
“This is not how I want my time at CNN to end but I have already told you why and how I helped my brother,” Mr. Cuomo said in a statement on Saturday. “So let me now say as disappointing as this is, I could not be more proud of the team at ‘Cuomo Prime Time’ and the work we did as CNN’s #1 show in the most competitive time slot. I owe them all and will miss that group of special people who did really important work.”The spectacle of a high-profile cable news anchor advising his powerful politician brother amid scandal was a longstanding headache for many CNN journalists, who privately expressed discomfort at actions that, in their view, compromised the network’s credibility. The CNN anchor Jake Tapper went public with his concerns in May, telling The New York Times that his colleague had … [READ MORE...]
Prosecutors Push Elizabeth Holmes of Theranos to Take Responsibility
Ms. Holmes tried tying her relationship with Mr. Balwani to her fraud charges by stating that he impacted “everything about who I was,” including Theranos. She said she pushed him out of the company and broke up with him after she learned that Theranos’s lab, which Mr. Balwani oversaw, had major issues.“There was no way I could save our company if he was there,” she said on Tuesday.Mr. Balwani has denied assault accusations. He was indicted on fraud charges alongside Ms. Holmes and will be tried separately next year. He has also pleaded not guilty.Over a long and detailed day of testimony, Mr. Leach lingered on the relationship, using text messages between Ms. Holmes and Mr. Balwani as evidence. He asked Ms. Holmes to read text messages that showed her exchanging affectionate remarks with … [READ MORE...]
Latest News
Debt Ceiling Window Is Narrowing, Bipartisan Policy Center Warns
Democrats, in turn, have balked at a Republican demand to use a fast-track process known as budget reconciliation to raise the debt limit without Republican votes. Democrats used the process to pass the coronavirus relief package and they are using it again for the climate, tax and spending plan, but they have argued that Republicans should help keep the government from defaulting.Understand the U.S. Debt CeilingCard 1 of 6What is the debt ceiling? The debt ceiling, also called the debt … [Read More...]
Why the November Jobs Report Is Better Than It Looks
But in terms of policy, this increasingly looks like an economy on the right track. The work of macroeconomic stabilization appears to be pretty much complete. At its coming policy meeting, the Federal Reserve will seriously consider winding down its program of bond-buying faster than planned, Chair Jerome Powell said this week.Despite the soft job creation numbers, the overall November employment report appears to support those plans. Fed officials would like to see a stronger rebound in labor … [Read More...]
November 2021 Jobs Report: A Gain of 210,000
The report noted “the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation.” Shoppers are facing the steepest inflation in 31 years. In October, prices increased 6.2 percent from a year earlier.Understand the Supply Chain CrisisCard 1 of 5Now, ports are struggling to keep up. In North America and Europe, where containers are arriving, the heavy influx of ships is overwhelming ports. With warehouses full, containers are … [Read More...]
This Is a Tight Labor Market, Not a Loose One
But in terms of policy, this increasingly looks like an economy on the right track. The work of macroeconomic stabilization appears to be pretty much complete. At its coming policy meeting, the Federal Reserve will seriously consider winding down its program of bond-buying faster than planned, Chair Jerome Powell said this week,Despite the soft job creation numbers, the overall November employment report appears to support those plans. Fed officials would like to see a stronger rebound in labor … [Read More...]
Previous news
- United Auto Workers reformers prevail in vote to choose president by direct election.
- Biden Projects Normalcy and Optimism as Omicron Poses New Threat
- A Top Official Says the Fed Will ‘Grapple’ With a Faster Bond-Buying Taper
- Powell Says Fed Could Finish Bond-Buying Taper Early
- Supply-Chain Kinks Force Small Manufacturers to Scramble
Small Business
Prosecutors Push Elizabeth Holmes of Theranos to Take Responsibility
Ms. Holmes tried tying her relationship with Mr. Balwani to her fraud charges by stating that he impacted “everything about who I was,” including Theranos. She said she pushed him out of the company and broke up with him after she learned that Theranos’s lab, which Mr. Balwani oversaw, had major issues.“There was no way I could save our company if he was there,” she said on Tuesday.Mr. Balwani has … [Read More...]
Where Will We Be in 20 Years?
Where will that electricity get produced? Solar power could be produced on largely unpopulated land masses and transported to population centers, an idea Elon Musk raised about China five years ago. China has “an enormous land area, much of which is hardly occupied at all,” he said, noting that most of China’s population is concentrated in coastal cities. “So you could easily power all of China … [Read More...]
Your Money
Why Do Christmas Trees Cost More This Year?
Most artificial trees are imported and so are affected by slower shipping times and higher costs because of the pandemic, he said. “Supply is flat, but demand is up.”The average price of an artificial tree last year was $104, according to Mr. Harman’s association. Fancier models, however, can cost more than $1,000. Typically, he said, retailers sell artificial trees at a discount to the price … [Read More...]
Sharing Hard-Won Money Lessons to Build Generational Wealth
Julien and Kiersten Saunders, creators of the blog Rich Regular, go so far as to call “retirement” the “R word.” Gaining that independence is crucial now, they say, not just after 65. And they encourage their audience, which they reach on YouTube, Instagram, Facebook and Twitter, to look at out-of-the-box ways of doing so.“Minority communities are obsessed and focused on earning more income … [Read More...]