Daily Archives: October 7, 2017

GP3 Jerez: Alesi loses reverse grid pole after penalty

Ferrari Academy driver Giuliano Alesi disagrees with the stewards’ decision that means he has lost pole for tomorrow’s GP3 reverse grid event at Jerez

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Video: Life Coach with Alex Honnold and Renan Ozturk

This past summer, climbers Alex Honnold and Renan Ozturk traveled to the Ruth Gorge in Alaska to attempt a climb up Mt. Dickey. Unfortunately, the weather there was awful, and the expedition never really had the chance to get off the ground. So, what happens when these two men end up in a tent for days on end with no where to go? They start talking, and the result is this wonderful short film in…

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After Trump took office, he told Tillerson that American businesses were being unfairly penalized by laws prohibiting them from bribing foreign officials

rex tillerson donald trump

President Donald Trump told Secretary of State Rex Tillerson that American businesses were being unfairly penalized by federal laws prohibiting the bribing of foreign officials, according to a profile of Tillerson by The New Yorker’s Dexter Filkins

Tillerson, who had initially called the meeting with Trump to introduce the president to a prospective deputy, was taken aback by Trump’s position.

“Tillerson told Trump that America didn’t need to pay bribes — that we could bring the world up to our own standards,” a source with knowledge of the meeting told The New Yorker.

Tillerson then relayed an anecdote to Trump from his time as the CEO of Exxon Mobil, when he met with a senior Yemeni official to discuss a deal. During the meeting, Yemen’s oil minister reportedly handed him a business card, with the account number to a Swiss bank account written on the back.

“5 million dollars,” the Yemeni official reportedly told him.

“I don’t do that,” Tillerson responded, per The New Yorker. “Exxon doesn’t do that.”

Tillerson told the Yemenis that they’d have to play the deal by the book if they wanted Exxon’s business. A month later, they acquiesced.

Abolishing federal laws barring foreign bribes has been something of a pet issue for Trump, whose family real estate company has been involved in deals around the globe. 

U.S. Secretary of State Rex Tillerson (R) meets with Pakistan's Foreign Minister Khawaja Muhammad Asif at the State Department in Washington, U.S., October 4, 2017. REUTERS/Yuri Gripas

In 2012, Trump told CNBC that The Foreign Corrupt Practices Act, which bars US companies from using bribes for a competitive advantage, is a “horrible law” that stifles American businesses working abroad.

“It puts us at a huge disadvantage,” he said.

In February, Trump’s administration killed a rule that forces energy companies listed on US stock exchanges to disclose their payments to foreign officials. Congress got rid of the rule, but kept the amendment — which means the Securities and Exchange Commission has to come up with a new disclosure policy, reports CNBC

Jay Clayton, the SEC chairman, has expressed skepticism about the law in the past as well, leading some to believe he will be lenient with enforcement. 

Attorney General Jeff Sessions, however, said in April that the Justice Department would continue to enforce the FCPA, “and other anti-corruption laws.”

The relationship between Trump and Tillerson is strained amid reports that Tillerson called Trump a “moron” in a meeting. Tillerson called a press conference on Wednesday pushing back on the report and expressed his commitment to remaining at the State Department, amid widespread rumors that he had to be talked out of resigning earlier this year.

SEE ALSO: Gary Cohn says the White House is ‘very excited’ about the dismal jobs report that showed the US economy lost jobs

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NOW WATCH: The story of a North Korean amputee’s 6,000-mile escape on crutches

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Japanese GP: Mercedes explains recovery from Malasyia 'disaster'

Mercedes believes that cooler temperatures in Japan, allied to changes made to its car ahead of the Formula 1 weekend, were key to it recovering from its Malaysia “disaster”

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Scott McLaughlin takes Bathurst 1000 pole with lap record

Scott McLaughlin took a historic pole position for tomorrow’s Bathurst 1000, with the first ever sub-2m04s lap during the Top 10 Shootout

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Fernando Alonso gets Japanese Grand Prix F1 grid penalty

Fernando Alonso will receive a 35-place grid penalty for the Japanese Grand Prix, after McLaren-Honda broke curfew to change his Formula 1 car’s engine.

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