The White House has not settled on a plan for working with Congress to raise the federal debt limit, U.S. budget director Mick Mulvaney said on Thursday, even as the deadline loomed for the government to increase its borrowing authority. The Trump administration has urged Congress to increase the debt limit before it heads out for its August recess, but Mulvaney said officials had not decided what form the legislation should take. Source Reuters
Honda is closing its factory in Turkey as the country’s new-car sales collapse.
Vehicle sales in Turkey dropped 35 percent last year to 612,607 as the value of the local currency fell, figures from JATO Dynamics show. Honda’s sales bucked the trend by rising 8.5 percent due to the popularity of the locally made Civic sedan, Turkey’s fourth best-selling car last year.
- Car sales fell 17.7 per cent last month from a year earlier, while total vehicle sales in January fell 15.8 per cent to 2.37 million units overall
- Seventh straight monthly decline in the world’s largest car market, and adds to wider concerns over domestic consumption and economic growth
Zimbabwe could run out of bread in a week after flour stocks dwindled due to the country’s failure to pay for imported wheat, according to a confidential letter written to bakers by the country’s grain millers’ group on Monday. Source: Reuters
