New Turkey Central Banker Angling to Replace Albayrak Allies
Turkey’s new central bank governor is working on replacing some of his deputies at the monetary authority, according to people familiar with the matter.
Governor Naci Agbal is especially eager to sweep aside Monetary Policy Committee members that were close to former Finance Minister Berat Albayrak, the son-in-law of Turkish President Recep Tayyip Erdogan, the people said on Monday, asking not to be identified because of the sensitivity of the matter. Albayrak unexpectedly resigned as the country’s economy czar late Sunday, a day after the previous central bank governor, Murat Uysal, was fired.
Any replacements would have to be approved by Erdogan and published in the Official Gazette. A spokesman for Agbal didn’t respond to requests seeking comment.
Agbal has often criticized Albayrak’s policy of intervening in the markets. His appointment could signal higher interest rates are coming, but that depends on the extent to which he negotiates a level of policy independence.
The lira, this year’s worst performer in emerging markets, has won some respite after the weekend upheaval. It rallied as much as 6% against the U.S. currency, the most in over two years, and was trading 5.7% stronger at 8.0551 per dollar as of 2:28 p.m. in Istanbul.
Recreational Marijuana in New Jersey About a Year From Market, Murphy Says
Widespread New Jersey recreational marijuana sales probably will start in 12 months, Governor Phil Murphy said — too late to boost revenue for the current fiscal year.
“It could be as much as a year — I hope it’s sooner than that,” Murphy, a first-term Democrat, said on Fox Television’s “Good Day New York.” A regulatory framework still being formed, though, could allow medical-marijuana dispensaries to bring legal pot to market sooner.
“If they can prove that their supplies are sufficient to take care of their medical patients, and they’ve got excess capacity, there’s a potential for them to be able to engage in retail or non-medical cannabis before a year from now,” Murphy said.
Voters in New Jersey and four other U.S. states on Nov. 3 approved ballot measures to legalize adult-use cannabis. New Jersey anticipates collecting $126 million annually in related revenue, but the state won’t realize any gains for the current fiscal year if sales don’t begin before June 30.
Schaeffler Expects FY Revenue To Decline By 11.5% – 13.0% At CC Basis
Schaeffler Group said it now expects its full-year revenue to decline by 11.5 percent to 13.0 percent at constant currency in 2020. In addition, the company expects to generate a full-year EBIT margin , before special items, of 4.5 to 5.5 percent in 2020.
The company also anticipates between 500 to 600 million euros in free cash flow before cash in- and outflows for M&A activities for 2020.
On March 24, the company had suspended its full-year guidance for 2020 and, due to the extraordinary uncertainty related to the coronavirus pandemic, had recently been anticipating results below prior year levels.
DOTUS: The Bidens’ Dogs Champ and Major Debut Their Own Twitter Account
Saturday’s victory is giving President-elect Joe Biden’s dogs a whole new leash on life. On Sunday, they debuted their very own fetching Twitter account.
German shepherds Champ and Major Biden will share a single account, but neither one is whining about it.
“We are the First Dogs of the USA, Champ and Major Biden,” their Twitter profile said. “You can call us #DOTUS. We love nom noms, snuggles and we can’t wait to explore the WH!”
Early tweets feature to-die-for photos and awful dog puns, like “pawsidential,” “pawsitive” and “pawblic.” (The pooches refer to Joe Biden as “dad.”) They also gave a woof-out to supportive “doggos” that stood by the humans who fought for Biden (Beto O’Rourke and Sen. Elizabeth Warren (D-Mass.).
As of Sunday night, the dogs had already attracted nearly 64,000 followers. They mostly followed politicians and media sites.
No surprise, countless pets introduced themselves in tweets and congratulated the whole family on the big victory:
Boeing 737 MAX planes blamed for two deadly crashes that killed 346 people could be back in the air soon
The U.S. Federal Aviation Administration is in the final stages of reviewing proposed changes to Boeing Co’s 737 MAX and expects to complete the process in the “coming days,” the agency’s chief told Reuters on Monday.
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Mike Pence: ‘It’s Not Over Til It’s Over,’ Twitter Users: ‘It’s Over’
Although Joe Biden has won the 2020 presidential election, Mike Pence would rather quote legendary New York Yankee Yogi Berra than face reality.
The vice president took to Twitter on Monday to declare “It’s not over til it’s over,” and vowed to keep fighting until “every legal vote” is counted.
Although Biden was projected the winner on Saturday by The Associated Press and other media outlets, based on nonpartisan analysis of the vote in several states, Trump and some of his allies have repeatedly claimed he won the election.
The president has also accused the Democratic Party of “wrongdoing” without providing evidence to back the allegations.
Not surprisingly, many Twitter users had a different take from Pence about the state of the election.
Some people pointed out that neither the administration nor Trump campaign officials have provided any hard evidence supporting claims of the type of election malfeasance that would change the results in a handful of crucial states.
One man suggested that the timing of Pence’s “keep fighting” tweet was a little suspect, considering the vice president will be off for the rest of the week.
Another guy thought it was weird that the Trump administration was stalling the inevitable.
One woman noted that Pence’s use of the phrase “every legal vote” sounded like a dog whistle.
Another guy got a completely different vibe from Pence’s tweet.