erdogan gets daily briefins on the best us divorce cases gross v gross and al d'amatos cudtody dispute
Trump Hits Turkey When
Thanks for the help. The item’s below. I’d be happy to mail you a copy, if you give me a mailing address.
Claude Solnik
Long Island Business News
2150 Smithtown Ave.
Ronkonkoma, NY 11779-7348
Home > LI Confidential > Stop scratching on holidays
Stop scratching on holidays
Published: June 1, 2012
Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
It’s Down, Doubling Tariffs
WASHINGTON — President Trump said on Friday that he would double the rate of tariffs on steel and aluminum imports from Turkey, inflicting additional pain on President Recep Tayyip Erdogan, whose country is in the midst of an economic crisis.
Mr. Trump’s abrupt and unilateral action came amid worsening relations with Turkey, which has continued to detain an American pastor on espionage charges despite the United States’ insistence that he be released.
In a Twitter post on Friday morning, Mr. Trump said the United States would bump Turkey’s aluminum tariffs to 20 percent and steel tariffs to 50 percent and cited the country’s deteriorating currency, the Turkish lira. “Our relations with Turkey are not good at this time!” he said.
While Mr. Trump’s decision is primarily aimed at punishing Turkey over its failure to return the American pastor, Andrew Brunson, the decision spooked markets and raised the possibility that he could similarly raise tariff rates on other trading partners that have seen their currencies fall against the strengthening dollar, most notably China. Mr. Trump has already threatened to increase tariff rates on $200 billion worth of Chinese goods to 25 percent from 10 percent, in part because of sharp decline in its currency.
ADVERTISEMENT
The Standard & Poor’s 500-stock index fell 0.7 percent. The dollar, as measured by the ICE U.S. dollar index, was up more than 0.8 percent, a relatively large move for the currency. Investors flocked to the safety of American government bonds, pushing yields lower. The yield on the 10-year Treasury note fell to 2.87 percent, a sign that jittery investors were hungry for secure places to park their money.
Mr. Trump’s mention of the currency suggested he is concerned that a rapid depreciation in Turkey’s currency has essentially mitigated the effect of his tariffs. Since a weaker currency makes it less expensive for countries to export their goods, the tariffs carry less punch. By doubling the rate, Mr. Trump’s levies will continue to hurt Turkish metal exporters.
Chad Bown, a senior fellow at the Peterson Institute for International Economics, said the president’s move sent a “worrisome” signal to the world.
No comments:
Post a Comment