Turkish President Erdogan Demands Saudi Action for Khashoggi's Killing as SoftBank CEO Cancels Speech at Riyadh Conference
*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.
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A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
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It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
