#8744270 at 2020-04-10 12:19:27 (UTC+1) Q Research General #11196: Good Friday Edition
Coronavirus pandemic: EU agrees ?500bn rescue package
4 hours ago
"EU finance ministers have agreed a ?500bn (£430bn;$540bn) rescue package for European countries hit hard by the coronavirus pandemic.
The chairman of the Eurogroup, Mário Centeno, announced the deal, reached after marathon discussions in Brussels.
It comes as Spain's prime minister said the country was close to passing the worst of its coronavirus outbreak.
Spain has Europe's highest number of confirmed cases, with 152,446. More than 15,000 people have died.
The head of the International Monetary Fund (IMF) has warned the world is facing the worst economic crisis since the Great Depression of the 1930s.
Kristalina Georgieva said the coronavirus pandemic would turn economic growth "sharply negative" this year."
#7329618 at 2019-08-04 03:15:47 (UTC+1) Q Research General #9378: Anons comfy! Anons know! Don't Panic! Q on it!Edition
EU settles on World Bank official Georgieva to lead IMF
BRUSSELS (Reuters) - European Union governments picked Bulgaria's Kristalina Georgieva as the bloc's candidate to lead the International Monetary Fund after more than 12 hours of talks on Friday that highlighted the EU's internal divisions.
The 65-year-old chief executive of the World Bank got the backing of a majority of the 28 EU states, defeating the Dutch candidate Jeroen Dijsselbloem after two rounds of voting and prolonged negotiations among EU nations.
"Congratulations Georgieva for being selected as European candidate to lead the IMF. In the face on rising global tensions, it is imperative to uphold the IMF as symbol of multilateralism," said the chair of eurozone finance ministers, MarioCenteno.
Georgieva is a center-right politician who grew up in Bulgaria under communism before a career that brought her to the top of the World Bank and the European Commission.
Most EU states backed Georgieva even though her candidacy will force a change in IMF rules that require the managing director to be younger than 65 years old when appointed. The need for that change could weaken the European candidate if a sufficiently large number of IMF member states oppose the reform.
However, a European official said support from EU countries and the United States would be enough to overhaul the rules in the global fund that has historically been dominated by the Western bloc. According to an IMF fact sheet, a bylaw change to remove or modify the age limit would require approval by a majority of board votes cast.
The source added that France, which is leading the European selection process, had already secured Washington's support on this change.
A U.S. Treasury spokesman could not immediately be reached for comment on Georgieva's nomination, but U.S. Treasury Secretary Steven Mnuchin spoke highly of her work in a Reuters interview last month.
The top job at the Washington-based world lender has always been filled by a European. The former IMF chief, France's Christine Lagarde, resigned in July after EU leaders chose her to replace Mario Draghi as European Central Bank president.
"Great news and well deserved," said World Bank President David Malpass in an emailed statement to Reuters. Georgieva "brings strong leadership and deep country knowledge," he added.
Georgieva said in a tweet that she was relinquishing her World Bank resonsibilities and would take administrative leave during the nomination process.
A group of countries led by the Netherlands and Germany preferred Dijsselbloem, but were outnumbered by southern and eastern states who backed Georgieva, in a new sign of German Chancellor Angela Merkel's fading clout in the EU bloc.
Since an informal compromise was impossible among increasingly split EU nations, France decided to use a complex voting system, under which only the candidate who obtained 55 percent of the votes of the 28 EU states, representing at least 65 percent of its population, would win.
Georgieva got the backing of 56 percent of EU states, which represented only 57 percent of the bloc's population, falling short of one requirement.
But Dijsselbloem conceded defeat. "I congratulate Kristalina Georgieva with the outcome of today's European votes. I wish her the utmost success," he said on Twitter after the second voting round in which he had remained as the only opponent to Georgieva.
Dijsselboem, a former head of eurozone finance ministers, steered the eurozone out of the debt crisis, orchestrating with the IMF the bailout of Greek, Cypriot and Spanish banks.
But he was opposed by high-debt EU countries for the austerity measures attached to the rescues.
After the first round of voting earlier on Friday, Finland's central bank Gov. Olli Rehn and Spanish Economy Minister Nadia Calvino withdrew from the race. MarioCenteno had pulled out on Thursday.
Britain opposed the plan to select a candidate now, saying it was "premature" and did not allow London enough time to propose one of its own as the country has just formed a new government, according to a confidential note seen by Reuters.
Kristalina Ivanova Georgieva-Kinova (Bulgarian: ?????????? ??????? ?????????-??????; born 13 August 1953)is a Bulgarian economist and the European candidate for the role of Managing Director of the International Monetary Fund. She has also been Chief Executive of the World Bank since 2017. She served as Acting President of the World Bank Group from 1 February 2019 to 8 April 2019. She previously served as Vice-President of the European Commission under Jean-Claude Juncker from 2014 to 2016
#7292873 at 2019-08-01 16:59:54 (UTC+1) Q Research General #9331: Patriots Ready To Strike Edition
Fannie Mae net income falls, seen paying $3.4 billion to U.S. Treasury
Fannie Mae's net income fell in the second quarter from a year-ago due to losses on its derivatives, while it is expected to pay $3.4 billion in dividends to the U.S. Treasury, the No. 1 U.S. mortgage financing agency said on Thursday.
The agency posted net income of $3.452 billion, compared with $4.457 billion a year ago.
Fannie Mae recorded a loss of $754 million on the fair value of its derivatives, compared with a $229 million gain in the same quarter of 2018.
The Washington-based company attributed the drop in derivative values on falling interest rates.
what this tells pepe is that they have an ASS-ton of interest rate swap derivatives that are not performing due to already mentioned fall in rats. This will only get worse as they all expected rates to rise over time.
Search for new IMF head widens to include British candidate
European governments widened their search for a new head of the International Monetary Fund, extending a deadline to 1800 GMT on Thursday so that Britain can put forward a candidate.
EU finance ministers, having failed to reach a consensus, will also hold a series of votes from Friday morning to choose their favorite of six candidates, a French finance ministry official and two other European sources said.
The five declared candidates are: Jeroen Dijsselbloem, the Dutch former head of euro zone finance ministers; Nadia Calvino, the Spanish economy minister; Olli Rehn, the Finnish central bank governor; MarioCenteno, the Portuguese chairman of euro zone finance ministers; and Bulgaria's World Bank chief executive Kristalina Georgieva.
An as yet unnamed British candidate - who is not expected to be Bank of England governor Mark Carney - will join them.
'''I'll take NONE of them for $1000 Alex…especially "Diesel Boom"
ADM profit plunges as floods, U.S.-China trade war batter grain handler
Global grain trader and food processor Archer Daniels Midland Co on Thursday reported a 41.3% drop in second-quarter adjusted profit and missed Wall Street expectations, after being battered by the U.S.-China trade war and severe U.S. weather this spring that disrupted production and transportation.
The Chicago-based company's performance so far this year represents a sharp reversal of fortunes from last year, when ADM's profits surged after a drought in Argentina and the U.S.-China trade dispute boosted its trading and oilseed processing businesses.
Sorry, you're not getting $125 from the Equifax settlement, FTC says
Payout pool is too full, so FTC urges consumers to get free credit monitoring instead.
Remember that $125 you could have gotten from the Equifax Inc. data-breach settlement? Yeah, never mind.
The Federal Trade Commission announced Wednesday that, due to an overwhelming response, cash payments aren't going to be anywhere near $125 each, and urged consumers to sign up for the free credit monitoring offered as an alternative.
About 147 million people were affected by the 2017 Equifax EFX, +0.71% breach, but only $31 million was set aside for payments as part of the $700 million settlement, announced last week.
A quick bit of math shows that for everyone to have gotten $125 from that pot, there would have to be only 248,000 claimants.
While the FTC didn't give a number, they said there were already "an enormous number of claims filed."
#4767342 at 2019-01-15 21:20:06 (UTC+1) Q Research General #6084: You have the Keystone Edition
EU Cracks: Eurozone Prez Admits EU Can 'Change Course' on Brexit Deal MarioCenteno said Tuesday that if the British parliament rejects the agreement struck with the European Union by Prime Minister Theresa May, "we will be able to change course."
He tells Portuguese television channel S.I.C. that "we can always look again at the issues," but did not elaborate.