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Turkey’s Erdogan sworn in with new presidential powers described by critics as ‘institutionalized autocracy’

“Most powers will be concentrated in his hands, there will no longer be a prime minister, and almost none of the checks and balances of liberal democracies will be present” writes Ece Toksabay for businessinsider.com. Marc Pierini, a former EU ambassador to Turkey and visiting scholar at Carnegie Europe, said Erdogan’s new powers would effectively make him a “super-executive president”.Tayyip Erdogan was sworn in again as Turkey’s president on Monday, assuming sweeping powers he won in a referendum last year and sealed in a hard-fought re-election victory two weeks ago. Source: businessinsider.com Share This:

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Congress, take back your power over trade

“Bob Corker, R-Tenn., and Pat Toomey, R-Pa., have introduced to restore Congress’ power to impose and set tariffs” reports washingtonexaminer.com. As Trump’s trade war opens on new fronts and hurts Americans, passing Corker-Toomey and giving Congress back its powers on trade is a much-needed correction.The power over trade and tariffs, however, rightly belongs with Congress.This is just the latest example of how the executive branch has arrogated power that rightly should remain with Congress.Trump, fulfilling campaign promises to counter “unfair trade,” is deploying Section 232 as a carte blanche for…

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Iran nuclear deal in doubt as world powers fall short on Tehran’s demands

“The Iran nuclear deal looked in doubt on Friday as European powers failed to convince Tehran that they would be able to fully compensate for economic losses caused by the US’s exit” writes Josie Ensor for telegraph.co.uk. The signatories to the landmark accord met for the first time since Donald Trump, the US president, withdrew in May to discuss how they could salvage the deal in the face of a reimposition of US sanctions.The 2015 deal saw the lifting of sanctions on the Islamic Republic in return for curbs on its nuclear…

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News Oil 

Struggling to save nuclear deal, Iran and world powers meet

“Any confirmation that Iranian authorities were behind the plot could make it politically difficult for European leaders to continue to back the nuclear deal” writes Midwest Communications Inc for 95kqds.com. VIENNA (Reuters) – Iran wants world powers to present measures guaranteeing oil revenue and investment into the country despite U.S. sanctions when ministers meet on Friday to save the 2015 nuclear deal, but European states will fall short of its demands, diplomats said.While talks are expected to focus purely on the nuclear deal, they come amid increasing rhetoric from the…

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Erdogan to be sworn in with new powers…

“Under the new system, Erdogan will enjoy greater powers with the authority to appoint and sack ministers, judges and other state officials” reports yahoo.com. Those elections were particularly crucial as it is only after the polls that the new presidential system, which was agreed in a 2017 referendum and opponents fear will lead to one man rule, comes into force. Source: yahoo.com Share This:

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PepsiCo gets downgraded by Deutsche Bank due to rising ‘cost inflation’

“The firm lowered its rating on PepsiCo shares to hold from buy, predicting the company will report earnings below expectations this year” writes unknown author for cnbc.com. Powers reaffirmed his $116 price target for PepsiCo shares, representing 6 percent upside to Monday’s close.PepsiCo shares are underperforming the market this year.PepsiCo’s profitability will suffer due to commodity price inflation this year, according to Deutsche Bank.The stock declined 9 percent year to date through Monday compared with the S&P 500’s 2 percent gain. Source: cnbc.com Share This:

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Suppliers Reel After Tesco, Carrefour Agree To Combine Procurement Powers

“Two supermarket conglomerates are teaming up and combining their leverage to get better payment terms from their suppliers” reports pymnts.com. Tesco, in particular, stands to lose its number-one market spot in the U.K. after its top rival Sainsbury’s agreed to acquire Asda from Walmart.Euromonitor International said Carrefour and Tesco hold a combined 8 percent of the western European grocery market, though their agreement will not apply to Poland and China, the two markets in which they overlap. Source: pymnts.com Share This:

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Nuclear power’s demise can’t be stopped

“Since the Three Mile Island accident in 1979, many reasonable people have entertained reasonable doubts about nuclear power” reports washingtonexaminer.com. Unlike nuclear power, natural gas has played a significant role in the renaissance of lower energy prices.This inflammatory and unprovoked warning surfaces in a study done for the Nuclear Energy Institute on the risk of growing dependence on natural gas due to continued nuclear plant retirements. Source: washingtonexaminer.com Share This:

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Edinburgh pushes for legal powers to impose tourist tax

“The tourism industry is also split” writes Severin Carrell for theguardian.com. The city’s hotels have the second-highest occupancy rate in the UK, at 82%, and the industry is investing heavily in new ones.In all, 34 new hotels with nearly 3,000 bedrooms have planning consent and 15 more with more than 2,000 bedrooms await approval. Source: theguardian.com Share This:

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