Business doesn’t shout its displeasure, it just quietly withdraws. That’s what’s happening in Erdogan’s Turkey right now. Direct investment is plummeting, exports are collapsing and European managers and investors are staying away. Maybe Erdogan should stop his autocratic monologue for a moment and listen to the sound of business’ silence.
There’s nothing like flying, but running an airline doesn’t look like fun these days. Today’s Handelsblatt analysis shows why despite heavy cuts and low oil prices, airline profits are diving. For Lufthansa, Emirates and other carriers, business resembles the market economy less than it does a game of Monopoly.
Deutsche Bank is having a rough summer. Yesterday, the share price of Germany’s largest bank fell below the previous record low of €11.22. The worst news is that for the first time since 1998, Deutsche Bank was excluded from the Stoxx Europe 50 index of the 50 biggest European firms. Chief Executive John Cryan now has to show he can steady the helm in rough waters. After all, it’s not the size of the boat, but the motion of the ocean.
Barely two weeks since terrorism hit Germany, and already the government is considering deploying the army during terrorist emergencies. Soldiers bring wartime expertise on explosives and chemical weapons, the army claims and politicians are proposing joint exercises with German police. They‘re forgetting that bringing in the military might be the easy thing to do, but the right thing to do is equip and train the police for a new set of threats. Maybe some of the police’s other jobs can wait for now: Our parking lots, for example, seem just fine.
Germany’s most populous state North Rhine-Westphalia just released shocking numbers about theft. The state registered about 50,000 burglaries in 2014, but only 835 culprits were sentenced. The state’s justice minister denied that the justice system in his state is too lax, insisting instead it is “rigorous and assertive.” There are many ways to disrespect your voter and whitewashing is the most effective of them all.
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