Business

Turkey’s currency turmoil and upcoming election – what you need to know

The Turkish lira has dropped more than 15% this year against the US dollar and the government is doing all it can to stem the flow. Gulcin Ozkan The Conversation Turkey’s central bank just raised the country’s main interest rate by 1.25 percentage points (to 17.75%) in a bid to stabilise the lira and halt surging inflation. This follows an emergency rate rise on May 23 of three percentage points. With elections on the horizon, this is a trying time ... Read More »

Israel’s Navy Trains to Defend Mediterranean Gas Rigs from Hezbollah Attack

The Israeli Navy has successfully completed a military drill that simulated two possible ways Hezbollah might attack gas exploration and extraction systems in Israel’s Exclusive Economic… Sputnik The Israeli Navy’s first scenario included a drone simulating a cruise missile fired by the enemy at a gas rig. According to the Jerusalem Post, the airborne target was successfully discovered and destroyed by the… The ship has reportedly been upgraded with new detection, observation and electronic warfare systems, including a new radar which is said to greatly improve ... Read More »

Are You a Tax Time Donor?

Tax time is an opportunity to consider what you have done for others in the last year, writes Sally Cunningham from Frontstream. ProBono If you have seen any commercial TV lately you’ll know it’s close to tax time. Car dealerships are having run-out sales, department stores are slashing prices and charities are asking you to dig deep this winter and give to people in need. I can’t advise you on a new car or other luxury goods, but I have ... Read More »

Norwegian PM to UK: Why would you want our EU deal?

‘It’s quite frustrating to find the way through and find solutions’ for Brexit, the prime minister added. By ANCA GURZU AND JAMES RANDERSON Politico The prime minister of Norway asked why the U.K. would want a relationship with the EU that’s similar to the one her country has with the bloc. Supporters of a soft Brexit often cite a version of the “Norway model” — with close regulatory alignment with Brussels and membership of the single market — as a less economically damaging ... Read More »

From coffee house to White House?

Could Howard Schultz be the next Democrat candidate for the Presidency of the United States His resignation as Executive Chairman of Starbucks has fuelled speculation that he’s planning to run in 2020. EuroNews Schultz built the famous coffee chain up from 11 cafés in Seattle in 1982 to today’s 28 000 stores in 77 countries. He’s never been shy of intervening in political debate – last year in response to Donald Trump’s anti-immigration push he promised that Starbucks would hire ... Read More »

Politics is broken because the whole system is broken

Sometimes when things break, it’s a mystery. But even when we can’t figure out what went wrong, we understand that something did fail. John Birmingham Brisbane Times A critical component or an essential process wore out, or overloaded or somehow reached the limits of its design. If a dishwasher has a drainage problem it’s probably a blocked outlet. If a printer just stops printing, either the ink ran out, or the small time bomb the manufacturer placed deep inside the ... Read More »

7 Reasons US Should Not Ratify UN Convention on the Law of the Sea

President Donald Trump recently proclaimed June 2018 to be National Ocean Month and stated his support for better utilizing the vast resources contained in America’s Exclusive Economic Zone, the 200-nautical mile zone off U.S. coasts over which the U.S. has jurisdiction.j Authors: The Daily Signal There are now sure to be renewed calls for the United States to accede to the United Nations’ Convention on the Law of the Sea—also known as the Law of the Sea Treaty—as a useful ... Read More »

The rise and fall of AMP’s Catherine Brenner

It all started to go wrong for Catherine Brenner the day that Jack Regan walked into the witness box at the Financial Services Royal Commission in Melbourne. Deborah Snow WAtoday The date was Monday, April 16, and Regan, the head of advice at financial giant AMP, was due to give his much-anticipated evidence under the hawk-eyed gaze of presiding justice Kenneth Hayne. Forty-seven year old Brenner, the well-remunerated chairman of AMP, logged on to follow the webcast live from Japan. ... Read More »

Crop exports to wilt as autumn rains fail over much of Australia

Australia’s third-driest May on record has compounded the misery facing many of the nation’s farmers, with the window for winter plantings closing fast. Peter Hannam The Canberra Times Projections by Rabobank released on Friday indicate 21.6 million hectares of winter crop will be planted this year. While down 2 per cent on the previous year, the drop in Queensland and NSW will be much more severe at 11 per cent and 7 per cent, respectively. Rainfall last month was down ... Read More »

How Greece’s Busiest Port Reveals the Perils of Privatization

Dockworkers say the same “harsh neoliberal experiment” that reduced their wages will spread to the rest of Europe. Alexander Saeedy The Nation Around 7 am at the Port of Piraeus near Athens, deckhands dressed in white began to unmoor the cruise liners and yachts filled with thousands of sleepy travelers ready to cross the Aegean Sea. But as the tourist trade picked up in the passenger and cruise terminals, some of the hundreds of dockworkers in the port’s northern cargo ... Read More »

The female tradie shortage: why real change requires a major cultural shift

The number of women in the manual trades in Australia has barely budged in the last 20 years. Authors: The Conversation While lower-skilled and lower-paid jobs like hairdressing have increased the number of women being employed, manual trades like electricians, carpenters and mechanics have remained at incredibly low levels. Women make up just 3% of those employed in the electrotechnology and telecommunications trades, and only 1% of those working in construction, engineering and automotive trades. Governments, industries and education providers ... Read More »

Lunch with the ruralists

Landowners control Brazil’s parliament A group of wealthy agribiz owners get to make self-enriching policy affecting millions because they backed the overthrow of Dilma Rousseff. by Anne Vigna  Le Monde diplomatique he parliamentary ‘ruralist’ group meets every Tuesday in a villa in a classy district of Brasília, and, according to its PR, ‘they have lunch and discuss a different topic every week.’ The ruralists form a lobby of powerful landowning parliamentarians, and the results of their discussions later reach Congress ... Read More »

Turkey blames ‘Jewish lobby’ for economic crisis

Turkish media have blamed the “Jewish lobby” for the sudden drop in the value of the country’s currency, based on a tweet from an Israeli academic. Hannah Lucinda Smith. Adam Sage, David Charter The Times The Turkish lira has fallen by 20 per cent against the dollar this year and President Erdogan has repeatedly blamed an unspecified “interest-rate lobby” for manipulating the currency. Turkey’s press is almost exclusively controlled by the state or pro-Erdogan businessmen after a crackdown on critical media. It seized ... Read More »

Ruth Davidson vows to end tax breaks for rich, boost immigration

Tory leader Ruth Davidson has called for an end to tax breaks for the wealthy and more open immigration under plans to make the party a “credible force” for Government in Scotland. SCOTT MACNAB The Scotsman A shift away from the more hardline approach of Tory right-wingers south of the border was set out by the Edinburgh Central MSP in a keynote speech today. The sweeping vision is hoped to allow her to oust Nicola Sturgeon as First Minister at ... Read More »

The Battle For Energy Dominance In The Mediterranean

The Eastern Mediterranean is easily one of the most important and hotly contested regions in the world due to several key factors: the Suez Canal is vital to international commerce, militaries of major powers are participating in the Syrian Civil War, and the region hosts two more unresolved conflicts in divided Cyprus and Israel/Palestine. By Vanand Meliksetian for OilPrice However, recent major gas discoveries may have permanently altered the energy map of the region. If they play their cards right, ... Read More »

Why CEOs need to embrace fear

Running a business can be a frightening undertaking. CEOs make decisions that affect the livelihoods of dozens, if not thousands. Authors: The Conversation Only one in two new businesses last more than five years, few big businesses remain intact for more than a decade, and the shelf life of a corporate CEO is an… The human emotions that come with this undertaking are often brushed aside or even frowned upon. This is despite the fact that emotions play a crucial, ... Read More »