Recep Tayyip Erdogan emerges victorious in Turkey elections. Donald Trump seeks to remake the global trading system. Amazon is making moves in the financial services sector. Debt relief deal gives Greece hope. Twitter is finally making money. Here are our five news picks from last month:
Trump’s plans to change the global trading system are not popular outside the U.S.: “China and the EU firmly oppose trade unilateralism and protectionism and think these actions may bring recession and turbulence to the global economy,” says Vice Premier Liu He, a top economic adviser to President Xi Jinping. Trump isn’t backing down, and some say he has room to keep pressing.
Amazon may not be building a bank right now, but the company is quite intent on launching financial services products to keep customers participating. CB Insights dissects and explains Amazon’s goals (such as “Increase the number of merchants on Amazon, and enable each merchant to sell more”) and products (Amazon Pay, Amazon Protect, and many more) and works to answer what the “Bank of Amazon” could look like in coming years.
Greece gets a “win,” analysts say, after being granted concessions to make their debt repayments easier to handle. The new set of measures, CNBC reports, say that Greece won’t be called on to pay until 2032. Mixed reactions aside, Greece for the first time in recent memory is out of crisis at the close of August when the bailout ends.
Rivals say that under the new system the president has too much power and a watchdog group says that the opposition didn’t get a fair chance. Nevertheless, Erdogan’s Turkey solidifies with this new victory. Erdogan will remain president until at least 2023, and he has additional powers added last year. Turks also voted for a new parliament that gives Erdogan’s party a majority.
After a handful of rough years, Twitter is profitable and growing (not like Facebook, but enough and in the right ways.” BTIG analyst, Rich Greenfield, says, “[Twitter] is becoming the platform of choice for information dissemination and engagement.” Another new piece of the puzzle is that Twitter’s stock rising is no longer based on speculation that it might be bought someday by Facebook or Google, possibly because it’s too expensive.
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