The Turkish central bank caught international markets by surprise Thursday as it aggressively hiked interest rates in an effort to strengthen consumer confidence, stem inflation and rein in the currency crisis. Interest rates were increased to 24 percent from 17.75 percent, which is more than double the median of investor predictions of a 3 percent…
read moreFacebook is better prepared to defend against efforts to manipulate the platform to influence elections and has recently thwarted foreign influence campaigns targeting several countries, chief executive Mark Zuckerberg said Thursday. Zuckerberg, posting on his Facebook page, outlined a series of steps the leading social network has taken to protect against misinformation and manipulation campaigns…
read moreCuba’s street vendors are bringing back the pregon, the art of singing humorous, rhyming ditties with double entendres about the goods they are selling, with some modernizing the tradition by setting their tunes to reggaeton. The pregon is a centuries-old tradition that has inspired famous songs like “El Manisero” (the peanut vendor), composed in the…
read moreEven before U.S.-China trade tensions began escalating dramatically, foreign businesses who operate in China were warning about the impact tariffs could have. And now, according to a newly released joint survey from the American Chamber of Commerce in China and AmCham Shanghai, many are already feeling the pinch. More than 60 percent say the initial…
read moreFormer President Barack Obama has re-entered the U.S. political scene, hitting the campaign trail on behalf of Democrats hoping to wrest control of Congress away from Republicans in November’s midterm elections. Obama now finds himself in a proxy battle with the man who succeeded him, President Donald Trump, as they both seek to energize their…
read moreThe cyclist who flashed her middle finger at President Donald Trump’s motorcade says she’ll file paperwork to run for office in northern Virginia. Juli Briskman tells The Washington Post this week that she’ll file paperwork to challenge Suzanne M. Volpe, a Republican who represents the Algonkian District on the Loudoun County Board of Supervisors in…
read moreA new report by Transparency International suggests foreign bribery is alive and well. The report, by the Berlin-based, anti-corruption watchdog, suggests little has changed in recent years in the way governments enforce their anti-bribery laws. Today, only seven major exporting countries actively crack down on companies that offer bribes to foreign officials in exchange for…
read moreApple’s polished iPhone line-up comes with tools to help users dial back their smartphone obsessions, amid growing concerns over “addiction” and harmful effects on children. An iOS 12 mobile operating system that will power new iPhones unveiled on Wednesday, and be pushed out as an update to prior models, has new features to reduce how…
read moreApple Inc unveiled larger iPhones and watches based on the design of current models on Wednesday, confirming Wall Street expectations that the company is making only minor changes to its lineup. The world’s most valuable tech company wants users to upgrade to newer, more expensive devices as a way to boost revenue as global demand…
read moreTwo U.S. lawmakers are urging the extension of tougher American export restrictions to prevent sales of equipment that could be used in China’s massive security clampdown targeting the Xinjiang region’s native Muslim population. Senator Marco Rubio and Representative Chris Smith want foreign entities, including businesses, research institutions, government and private organizations, and individuals seen as…
read moreU.S. Democrats’ chances at regaining majorities in Congress are rising, a new poll showed Wednesday, as President Donald Trump’s approval rating suffers a fresh hit and Republicans issue dire warnings about upcoming elections. With 55 days until the mid-terms that will decide congressional, state and local races nationwide, the Republicans who control both chambers of…
read moreLeah Vukmir is used to being the underdog. Few gave the Republican U.S. Senate candidate from Wisconsin much of a chance of defeating her better-funded primary challenger last month, but she prevailed thanks largely to support from the party establishment. Now Vukmir faces another opponent with deeper pockets – Democratic Sen. Tammy Baldwin – in…
read moreThe Turkish central bank is facing growing pressure to decisively hike interest rates at a meeting Thursday to defend an ailing currency and rein in double-digit inflation. But concerns remain over President Recep Tayyip Erdogan’s grip on monetary policy. The Turkish lira has fallen more than 40 percent, much of it in the past few…
read moreSouth Korea’s unemployment rate hit an eight-year high in August as mandatory minimum wages rose, adding to economic policy frustrations and political challenges for President Moon Jae-in whose approval rating is now at its lowest since inauguration. The unemployment rate rose to 4.2 percent in August from 3.8 percent in July in seasonally adjusted terms…
read moreA group representing major internet companies including Facebook, Amazon.com and Alphabet said on Tuesday it backed modernizing U.S. data privacy rules but wants a national approach that would preempt California’s new regulations that take effect in 2020. The Internet Association, a group representing more than 40 major internet and technology firms including Netflix, Microsoft and…
read moreIn Iraq, a major Middle East grain buyer, will cut the irrigated area it plants with wheat by half in the 2018-2019 growing season as water shortages grip the country, a government official told Reuters. Drought and dwindling river flows have already forced Iraq to ban farmers from planting rice and other water-intensive summer crops.…
read morePresident Donald Trump said Tuesday that the White House was “as ready as anybody has ever been” as a killer hurricane moved closer to making a direct hit on the southeastern U.S. coast. Hurricane Florence, an extremely dangerous Category 4 storm, was producing top sustained winds of 220 kilometers per hour (137 mph). Forecasters said they expected…
read moreU.S. Supreme Court nominee Brett Kavanaugh’s marathon testimony before the Senate Judiciary Committee last week does not appear to have changed the basic math that continues to favor the eventual confirmation of President Donald Trump’s pick for the country’s highest court. All but two of 51 Republican senators either have announced their backing for Kavanaugh…
read moreYoung people are driving the growth of businesses that benefit society and the environment, the organizer of a global gathering of ethical entrepreneurs said as it opens Wednesday. Some 1,500 people are meeting in Edinburgh as the 10th Social Enterprise World Forum — one of the most important networking events for the sector — returned…
read morePlans by South Africa’s government to change the law to allow land expropriation without compensation have provoked an emotional response, even reaching the ears of President Donald Trump, who signaled his disapproval last month in a controversial tweet in which he ordered U.S. officials to investigate the situation. South Africa’s government says it may change…
read moreThe U.S. federal deficit will reach $1 trillion by the end of the fiscal year, the nonpartisan Congressional Budget Office said Tuesday. The CBO said in previous estimates that it did not expect to hit the milestone until 2020. Spending rose by $222 billion, or 32 percent, in the first 11 months of fiscal 2018,…
read moreNew Hampshire voters headed to the polls on Tuesday to pick candidates for a congressional seat that in this decade has flipped four times between the two major parties — and the same two people — in the latest test of the rising appeal of women nominees. Eleven Democrats, including three women, and six Republican…
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