*By Carlo Versano*
President Recep Tayyip Erdogan of Turkey demanded action from Saudi Arabia on Tuesday for the "premeditated" and "savage" murder of journalist Jamal Khashoggi, as SoftBank's CEO became the latest top executive to pull back from Saudi Arabia's investor summit.
In a highly-anticipated speech, Erdogan gave the first on-record account of the timeline of Khashoggi's death, telling members of his party that the murder had been planned for days in advance. But Erdogan stopped short of laying the blame directly with Crown Prince Mohammed bin Salman, or mentioning the reported recording of Khashoggi's torture and murder. Erdogan, who has his own history of targeting dissidents, demanded that the 18 suspects that Saudi Arabia has said it is holding be tried in Istanbul.
His speech was timed to the opening of Saudi Arabia's Future Investment Initiative conference, ratcheting up the pressure on the business and government leaders who are still participating.
The latest top executive to pull back is SoftBank CEO Masayoshi Son, who indicated he would no longer speak at the "Davos in the Desert" summit although he may still attend on the sidelines. As the CEO of Japan's SoftBank, Son is one of the most prominent executives to drop out of the conference ー joining JPMorgan Chase's ($JPM) Jamie Dimon, Blackrock ($BLK) CEO Larry Fink, and Uber CEO Dara Khosrowshahi.
Son controls SoftBank's $100 billion Vision Fund, which has become the de facto leader in venture capital funding and, thus, an important partner for the Saudis.
CIA Director Gina Haspel is reportedly in Turkey to assess the intelligence related to a crime that has galvanized the world's attention and cast a spotlight on the U.S.-Saudi relationship and the burgeoning role of Saudi money in American tech companies. Under Crown Prince Salman, the kingdom has sought to lessen its reliance on oil money and pivot to a more diversified investment strategy with a focus on innovative U.S. businesses. Working hand-in-glove with Son, the Saudis kicked in $11 billion to the Vision Fund, with billions more on the way, for stakes in start-ups like Uber and WeWork.
Now as international pressure on the Saudi regime swells, the future of that partnership is in question.
A moon landing attempt by a private US company appears doomed because of a fuel leak on the newly launched spacecraft. Astrobotic Technology managed to orient the lander toward the sun Monday so its solar panel could capture sunlight and charge its onboard battery.
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.
Wall Street is drifting higher after reports showed the job market remains solid, but key parts of the economy still don’t look like they’re overheating.
The Biden administration is docking more than $2 million in payments to student loan servicers that failed to send billing statements on time after the end of a pandemic payment freeze.
The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American job market remains resilient even in the face of sharply higher interest rates.
A U.S. labor agency has accused SpaceX of unlawfully firing employees who penned an open letter critical of CEO Elon Musk and creating an impression that worker activities were under surveillance by the rocket ship company.
