It’s the accidental diplomacy issue here at Enterprise, with the local press being largely preoccupied with foreign affairs as the business community (a) tends to its knitting during earnings season; (b) decamps to Sahel or (c) both, simultaneously.

The biggest news on the diplomacy front: Sameh Shoukry’s very busy day in Washington, DC (see Diplomacy + Foreign Trade, below) and the deepening row between Canada and Saudi Arabia (see Speed Round, also below).

The biggest business news of the day: Elon Musk is mulling whether to take Tesla private. “Am considering taking Tesla private at USD 420. Funding secured,” Musk tweeted. “Shareholders could either to sell at 420 or hold shares & go private,” he added in a follow-up tweet. His message followed a report that a Saudi investment fund had taken a nearly 5% stake in Tesla. If he follows through, the move would be the biggest buyout in history, with a valuation of USD 70 bn, according to the Wall Street Journal.

Turkey — the cautionary tale of EMs: At one point in time Turkey was the darling of emerging market investors, with the lionshare of credit given to then prime minister and current President Recep Tayyip Erdogan. The unraveling of the lira, particularly as it reached a record low over the past few days, has exposed just how far Turkey has fallen from grace. The state of the lira, how the Erdogan administration scared off bulls, and the impact this has had on bond yields and equities is the subject of a series of pieces in the Financial Times that is certainly worth checking out. It’s spelled k-a-r-m-a.

Also on our radar this morning:

Also in the FT: The salmon-colored paper has one of the best roundups of advice we’ve seen in a long time for bosses who are struggling to lead growing teams.

You think of eating my lunch, I shoot your dog: We’ve written a couple of times in recent months about big consultancies looking to gobble up business previously handled by ad agencies. Now the Omnicoms of the world are fighting back, getting into corporate consulting by launching or buying-up consulting practices.

We collectively used the world’s entire natural resources budget for 2018 in the first seven months of the year, HSBC says in a note to mark Earth Overshoot Day. The conclusion: Business and government are “not adequately prepared for climate impacts, nor are they using natural resources efficiently,” the bank writes, according to a piece by Business Insider.