Global Glance: EU worries over Turkey crackdown; rates on US treasury bills rise to 8-year high

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Here are today’s top business headlines from across the nation and world:

EU worries over Turkey crackdown as Erdogan mulls referendum

BRUSSELS (AP) — European Union foreign ministers expressed fresh concern Monday about Turkey’s crackdown on political opponents and the media, while President Recep Tayyip Erdogan suggested he might call a referendum next year on whether his country should join the bloc. At talks in Brussels, the ministers struggled to forge a common stance that would balance their desperate need for Ankara’s help to stop hundreds of thousands of refugees heading to Europe with deep concerns about rights abuses in Turkey in the wake of the thwarted military coup in July. Read more

Rates on US Treasury bills rise to highest in 8 years

WASHINGTON (AP) — Interest rates on short-term Treasury bills rose in Monday’s auction to their highest levels in eight years. The Treasury Department auctioned $42 billion in three-month bills at a discount rate of 0.515 percent, up from 0.420 percent last week. Another $36 billion in six-month bills was auctioned at a discount rate of 0.625 percent, up from 0.535 percent last week. The three-month rate was the highest since three-month bills averaged 0.530 percent on Nov. 3, 2008. The six-month rate was the highest since those bills averaged 0.840 percent on Nov. 17, 2008. Read more

SEC chair White leaving at end of Obama administration

WASHINGTON (AP) — The head of the Securities and Exchange Commission, Mary Jo White, will leave office at the end of the Obama administration, the agency said Monday. White, a former federal prosecutor and private securities lawyer, was appointed by President Barack Obama in February 2013. Her term doesn’t end until 2019. President-elect Donald Trump is due to take office Jan. 20 and likely will name his own choice to head the market watchdog agency in the near future. His nominee could move to unwind restrictions on Wall Street banks and corporations. The Trump transition team has set as a goal to “dismantle” the Dodd-Frank reforms law enacted in response to the 2008 financial crisis. Read more

Report: UK government said to have no plan for Brexit

LONDON (AP) — The British government on Tuesday rejected a leaked report claiming it has no coherent plan for leaving the European Union and may need to hire up to 30,000 civil servants to complete the country’s exit from the 28-nation bloc. The Times of London newspaper published a memo prepared by a consultant to the Cabinet Office claiming splits within Prime Minister Theresa May’s team have delayed development of a negotiating strategy and that it may take another six months to come up with a plan. The prime minister’s office said “this is not a government report and we don’t recognize the claims made in it.” Read more

Buffett’s Berkshire Hathaway invests in major airlines

NEW YORK (AP) — Warren Buffett is changing his mind about airlines and buying stakes in several major carriers including American Airlines Group Inc. and Delta Air Lines Inc. The billionaire investor has famously avoided the volatile sector in the past, although his Berkshire Hathaway does own NetJets, which sells partial ownership interests in business jets. Buffett disclosed the new investments, which also include United Continental Holdings Inc., Monday in filings with the Securities and Exchange Commission. Read more

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