FT News Briefing Turkey’s tight election
May 15, 2023
Turkey's presidential race heats up with Erdoğan and Kılıçdaroğlu neck-and-neck, hinting at a potential runoff. Meanwhile, Argentina grapples with inflation and emergency measures to stabilize its economy. On social media, Twitter's new CEO aims to repair relations with advertisers. In an unexpected twist, sand shortages are driving up construction costs, affecting everything from fracking to jam jars, showing how a common material can spark economic ripples worldwide.
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Tight Turkish Election
- Turkey's presidential election is too close to call, with both Erdoğan and Kılıçdaroğlu claiming leads.
- A runoff election is likely, creating an unprecedented situation in Turkish politics.
Twitter's New CEO and Musk's Role
- Twitter's new CEO, Linda Yaccarino, is expected to mend relationships with advertisers.
- Elon Musk will remain actively involved, potentially influencing product direction.
Argentina's Drastic Rate Hike
- Argentina plans to tackle its economic crisis by raising interest rates by 6%, to a new level of 97%.
- The move comes as the country grapples with 109% inflation.