Business Briefs – August 14, 2018

Turkey Tries to Contain Crisis But Currency Keeps Falling

ANKARA, Turkey (AP) – Turkey’s central bank has announced a series of measures to help banks manage their liquidity, after the country’s finance chief said the government had readied an “action plan” to ease market concerns that led to a slump in the value of Turkish currency. The bank released a statement Monday saying it would “provide all the liquidity the banks need.”

Questions Loom Over Tesla Deal After CEO Reveals Saudi Link

SAN FRANCISCO (AP) – Tesla CEO’s elaboration on his plan to engineer a buyout of the electric car maker could get the Silicon Valley maverick into legal trouble by revealing that the deal is far more uncertain than how he initially described it in his brash tweet last week. Elon Musk plans to buy Tesla from any existing shareholders willing to sell with money from Saudi Arabia’s sovereign wealth fund. But experts say the deal remains on shaky ground.

AP Investigation: Google Tracks Your Movements, Like It or Not

SAN FRANCISCO (AP) – Even if you think you told Google not to track you, it may be doing so. An Associated Press investigation finds that many Google services on iPhones and Android devices store location data, even if you used privacy settings that are supposed to keep it from tracking your movements. Google’s support page says if you turn off Location History, “the places you go are no longer stored.” But in fact, even with Location History paused, some Google apps automatically store time-stamped location data.

White House Called Toxins Contamination ‘PR Nightmare’

HORSHAM, Pa. (AP) – Communities in dozens of states are dealing with contamination by the toxic chemicals that the Trump administration called a “potential public-relations nightmare.” Families and towns affected by the contaminants say they’re dealing with their own nightmares from the toxics. A federal review this year found that some of the compounds are more hazardous than previously realized.

Seattle Airport Reviewing Security After Plane Theft

SEATTLE (AP) – After the spectacular theft of a 76-seat plane from the Seattle airport by a ground crew employee, authorities there are talking to counterparts around the country about how to prevent such breaches. Port of Seattle Commissioner Courtney Gregoire said Monday that Friday’s theft was “truly a one-in-a-million experience,” but “that doesn’t mean we can’t learn from it.”

Warren Buffett’s Investing Continues to Evolve Even at 87

OMAHA, Neb. (AP) – Warren Buffett’s core investing philosophy hasn’t changed much over his long career, but his approach continues to evolve even at age 87. Buffett resisted investing in tech companies for years because he didn’t think he could pick which ones would be enduring winners, but now his Berkshire Hathaway conglomerate is a major Apple shareholder because he views Apple as a consumer products company with loyal customers.

Governors: Trump Directive Could Hurt Effort to Save Bird

DENVER (AP) – Some state officials and environmental groups worry that a Trump administration directive could weaken a compromise aimed at saving an imperiled bird that lives in the American West. The decision passed last month severely limits a type of land swap involving federal property. The governors of Colorado, Nevada, Oregon and Utah have expressed opposition or concern about the change that they say eliminates an important tool for saving habitat for greater sage grouse.

Immigrations Audits Affect Dozens Of Minnesota Businesses

PAUL, Minn. (AP) – A St. Paul baking company that shuttered after an immigration audit is among nearly three dozen Minnesota businesses U.S. Immigration and Customs Enforcement has targeted since President Donald Trump took office.

ICE audited at least 34 Minnesota companies from January 2017 through April 2018 as part of the government’s enforcement to discourage illegal work. The number doesn’t include pending and open cases like St. Agnes Baking Co., Minnesota Public Radio reported.

The bakery closed in January after an audit found half its employees were unauthorized to work in the U.S.. The 23 employees had to be terminated after failing to show proper work authorization. St. Agnes couldn’t find replacements with the same expertise by ICE’s deadline, so leadership decided to stop production and cleared out the warehouse.