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☆ The Measles Outbreak in Europe is a Warning to America - The New York Times
▼ + stars: | 2024-02-01 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +1 min

In 2022, there were 941 reported cases of measles in the World Health Organization’s European region. And it appears even more significant compared to recent years, when efforts to limit Covid also resulted in almost entirely eliminating measles in Europe in 2021. But as the year drew to a close, the European measles outbreak kept growing. Almost certainly, the virologist Rik de Swart of Erasmus University Medical Center in Rotterdam tells me, these official case totals are significant underestimates. The epidemiologist Bill Hanage, also at Harvard, lamented it to me as a “chronicle of an outbreak foretold.”

Persons: Rik de Swart, Michael Mina, Bill Hanage, ” Organizations: Health, Erasmus University Medical Center, Harvard Locations: Europe, Kazakhstan, Kyrgyzstan, Russia, Britain, West Midlands, Rotterdam, Harvard

☆ New Subway Fare Gates and Platform Barriers Fail to Impress New Yorkers
▼ + stars: | 2024-01-30 | by ( Ana Ley | ) www.nytimes.com time to read: +1 min

Transit officials have struggled for years with two of the subway system’s most vexing problems: the dozens of people struck by trains every year and the millions of dollars lost to fare beaters. In the latest efforts to find solutions, they are testing new fare gates to stop turnstile jumpers and metal platform barriers to keep riders safe. About 15 miles away at the Sutphin Boulevard-Archer Avenue station in Queens, transit crews have replaced the system’s familiar turnstiles with glowing green fare gates that feature panels that swing open like saloon doors. Over the last three years, as more riders have returned to transit, more have been hit and killed by trains. And fare evasion drains millions of dollars annually from a system that, until recently, had been on the brink of a fiscal crisis.

Organizations: 191st Locations: Manhattan, Archer, Queens

FALLS CHURCH, Va. (AP) — Legislation that would allow a referendum on a casino in the northern Virginia suburbs of the nation’s capital cleared a hurdle Wednesday when a state Senate committee voted to advance the bill. Another bill that passed the committee Wednesday would allow Petersburg to hold a referendum on a casino in place of Richmond. Marsden said allowing a casino in northern Virginia provides geographic diversity and fairness. Legislative studies have also shown that a northern Virginia casino would generate more tax revenue than anywhere else. The Northern Virginia Chamber of Commerce supports the bill.

Persons: Glenn Youngkin, Sen, David Marsden, ” Marsden, Marsden Organizations: Senate, Committee, Delegates, Virginia Gov, Fairfax, Technology, Richmond, Northern, Northern Virginia Chamber of Commerce Locations: Va, Virginia, Fairfax County, Tysons, Bristol, Danville, Portsmouth, Norfolk, Petersburg, Richmond, Maryland, Potomac, Bethesda, Northern Virginia

☆ Passengers wake up in the ‘wrong’ country as Storm Isha plays havoc with flight plans
▼ + stars: | 2024-01-22 | by ( Julia Buckley | ) edition.cnn.com time to read: +8 min

CNN —Thousands of airline passengers across Europe woke up this morning at the wrong destination – and even in the wrong country – after Storm Isha caused havoc with flights, with dozens of cancelations, diversions and go-arounds in western Europe. Quintupling flight timesThis flight from Shannon to Edinburgh ended up in Cologne. There were over 100 go-arounds at UK airports, according to NATS, the UK’s air traffic control operator. “We did see some diverted flights leaving Manchester and some diverted to Manchester because of conditions at other airports, particularly Dublin,” they said. London’s Gatwick airport saw 22 diversions, but was able to take five flights diverted from other airports, according to a spokesperson for the airport.

Persons: Storm Isha, Kevin Cullinane, FlightRadar, “ Isha, Steve Fox, “, ”, –, Jerry Dyer, – Dyer, Isha, Jerry, Big Organizations: CNN, Ryanair, Dublin Airport, FlightRadar, Paris Beauvais, Belfast, Dublin, Lufthansa, Cork, NATS, Gatwick, Stansted, Big Jet, Heathrow, Birmingham Airport, London Locations: Europe, Ireland, Dublin, daa, ’, Lanzarote, Canary, Bordeaux, France, Shannon, Edinburgh, Cologne, Manchester, Paris, What’s, Glasgow, Liverpool –, Belfast, Liverpool, Scotland, Germany, Munich, England, Deauville, Stansted, London, Antalya, Turkey, Lyon, Budapest, Cork, Mexico City

☆ Passengers flying less than 200 miles from England to Ireland were diverted to Paris due to a storm — with another flight ending up 640 miles from its destination
▼ + stars: | 2024-01-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

It has prompted some bizarre diversions, including a flight to Dublin, Ireland, which ended up in Paris. One Ryanair flight between Ireland and Scotland landed in Cologne, Germany, 540 miles away. AdvertisementThere was a similar situation for a Ryanair flight from Dublin to Edinburgh, about 200 miles apart. But nobody appeared to end up further away from their destination or origin than passengers on Ryanair Flight 5911. It reached Dublin after taking off from the Canary Islands, but diverted 640 miles away to Bordeaux in southern France.

Persons: Isha, —, Nicola Bardon Organizations: Ryanair, Scotland, Service, Ireland, Irish Sun, Dublin, Europe's Locations: Ireland, Dublin, Paris, Cologne, Germany, Manchester, England, Paris —, Edinburgh, Canary, Bordeaux, France, New York City, Indiana, Copenhagen, Denmark, Liverpool, Flightradar24

☆ Palantir CEO Alex Karp: Antisemitism as a prejudice has always been the canary in the coal mine
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPalantir CEO Alex Karp: Antisemitism as a prejudice has always been the canary in the coal mineCNBC's Andrew Ross Sorkin shares a preview his interview with Palantir CEO Alex Karp at the World Economic Forum in Davos, Switzerland.

Persons: Alex Karp, Andrew Ross Sorkin Organizations: Economic Locations: Davos, Switzerland

☆ London stock market trading resumes after small cap outage
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. "Impacted securities are now in regular trading," LSEG said in a notice published on its website. FTSE 100 (.FTSE), FTSE 250 (.FTMC) and International Order Book securities - shares listed in London by overseas companies - had continued to trade normally, the exchange said. It is the second time LSEG has flagged a disruption to trading in smaller stocks on the London market in less than two months. In 2019, the London Stock Exchange suffered an almost two-hour outage that hit FTSE 100 and midcap stocks, which LSEG said was caused by a “technical software issue”.

Persons: Toby Melville, LSEG, Thomson, Danilo Masoni, Alun John, Amanda Cooper, Kirsten Donovan Organizations: London Stock Exchange, REUTERS, Tullow, CMC, FTSE, Thomson Reuters, Reuters, Thomson Locations: Canary Wharf, London, Britain, LSEG

☆ Global banks face negative outlook, property stress in 2024 - Moody's
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Dec 4 (Reuters) - Sluggish global growth, a higher risk of borrowers defaulting on loans and pressure on profitability mean that banks face a negative outlook in 2024, credit rating agency Moody's said on Monday. Pockets of stress in property markets in the Asia-Pacific region were also likely to continue, the report said. Moody's said in its report that it expected money to remain tight next year, lowering economic growth even as central banks are expected to start cutting rates. China's growth is also set to slow amid muted spending by consumers and businesses, weak exports and an ongoing property crunch, the report said. However, capital levels - which underpin the financial soundness of banks - are expected to broadly hold up, the report said.

Persons: Toby Melville, Moody's, Felipe Carvallo, Iain Withers, Chizu Organizations: Bank of, REUTERS, Moody's Investors Services, Bank, Moody's Investors Service, Thomson Locations: Canary, Bank of England, London, Britain, United States, Europe, Asia, Pacific

☆ Private equity double-dips are a tasty faux pas
▼ + stars: | 2023-12-04 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

Private equity groups are trying something similar in the capital markets: successfully listing a company, then coming back for a second bite by buying it back once its stock craters. Take Synlab (SYAB.DE), listed at the height of a Covid-19 boom in testing by investment group Cinven. European companies listed by private equity groups since 2020 are trading, on average, at a 22% discount to their IPO price, according to data from Dealogic and Breakingviews calculations. The message from such deals, however, is that it’s better to buy a private equity-owned company after it has listed. Follow @aimeedonnellan on XCONTEXT NEWSPrivate equity firm Cinven on Sept. 29 offered 10 euros a share to take Covid test maker Synlab private.

Persons: Russell Boyce, Synlab, Cinven’s, Cinven, Sweden’s, Dr Martens, Elliott, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Revenue, Thomson Locations: London, Britain, Cinven, France, Dealogic, Permira, Synlab

☆ Bill Ackman says antisemitism is the 'canary in the coal mine' for other discriminatory practices at Harvard
▼ + stars: | 2023-12-04 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

He said antisemitism was "the canary in the coal mine for other discriminatory practices." In a letter posted on X Sunday, the hedge fund manager and Harvard alumnus described antisemitism as "the canary in the coal mine for other discriminatory practices at Harvard." AdvertisementIn the letter, Ackman published a series of criticisms of university authorities, allegedly from senior faculty members at Harvard who had asked not to be named. The number of faculty members of color stands at around 22%, according to the data, up from 16% 20 years ago. After being appointed Harvard president in July, Gay said that boosting measures to address the long-standing lack of diversity among Harvard faculty would be a core objective, The Harvard Crimson reported.

Persons: Bill Ackman, —, Claudine Gay, Ackman, Gay, … Organizations: Harvard University, Service, Billionaire, Ivy League, Harvard, Harvard Crimson, Business Locations: Israel, Palestine, Harvard

☆ Car dealers are worried about an EV reckoning. I asked our transportation reporter what's going on.
▼ + stars: | 2023-11-30 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

Car dealers sent a letter urging Biden to "tap the brakes" on an electric vehicle mandate. Two-thirds of new cars must be EVs by 2032 — but dealers say EV sales are slumping, and hurting them. Local car dealers have a lot of political influence; Biden could look to expand tax incentives. AdvertisementCar dealers aren't happy with President Joe Biden's mandate to have two-thirds of all new cars be electric vehicles by 2032. I was surprised to hear about this letter from car dealers, because I thought that electric vehicles were in hot demand.

Persons: Biden, —, Joe Biden's, Axios, Nora Naughton, Biden —, Tesla, There's, Bolt, That's Organizations: Local, Service, EV, Business, Government, National Automotive Dealers Association, Car, Tesla, Ford Locations: Detroit, Washington ,

☆ New billionaires getting rich via inheritance rather than entrepreneurship in 'great wealth transfer'
▼ + stars: | 2023-11-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

A new wave of billionaires acquired more wealth through inheritance than entrepreneurship during the last year as a "great wealth transfer" picks up steam, a new report by UBS found. Fifty-three heirs received a total of $150.8 billion, which is higher than the $140.7 billion brought in by 84 new self-made billionaires, the report shows. "The great wealth transfer is gaining significant momentum," Benjamin Cavalli, head of UBS global wealth management strategic clients, told reporters in a briefing on Wednesday. Overall billionaire wealth is recovering, with the number of billionaires being up by 7% in the 12 months to early April of 2023, the UBS analysis showed. Billionaire wealth rose by 9% in this time and ended at around $12 trillion in nominal terms.

Persons: Benjamin Cavalli Organizations: UBS Locations: South Dock, Wharf, London, United Kingdom

CAPE CANAVERAL, Fla. (AP) — Astronomers have discovered a rare in-sync solar system with six planets moving like a grand cosmic orchestra, untouched by outside forces since their birth billions of years ago. The find, announced Wednesday, can help explain how solar systems across the Milky Way galaxy came to be. The six found so far are roughly two to three times the size of Earth, but with densities closer to the gas giants in our own solar system. This solar system is unique because all six planets move similar to a perfectly synchronized symphony, scientists said. All solar systems, including our own, are thought to have started out like this one, according to the scientists.

Persons: Tess, —, Adrien Leleu, they're, ”, Enric Palle, Palle, University of Bern’s Hugh Osborn Organizations: —, University of Geneva, of Astrophysics, University of Bern’s, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: CAPE CANAVERAL, Fla, Canary

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. A record 130.7 million people are expected to shop in stores and online in the U.S. on Black Friday this year, the National Retail Federation (NRF) estimates. In France, Italy, and Spain, most shoppers planned to buy clothing on Black Friday, with electronic goods coming second, according to a PwC survey. Thanksgiving Day discounts online peaked at about 28% for toys, while electronics had discounts as steep as 27%, Adobe said.

Persons: Shannon Stapleton, Cowen, Theresa Forsberg, “ It’s, ”, Jill Lizzo, she’s, “, I’m, Lizzo, PwC, hasn’t, Naomi Ojomo, Jeff Gennette, Barbie, John Roberts, Apple AirPods, Bergdorf Goodman, Nordstrom, Oscar de, Katherine Masters, Arriana McLymore, Helen Reid, Mimosa Spencer, Corina Pons, James Davey, Siddharth Cavale, Arriana, Deboarh Sophia, David Gaffen, Miral Fahmy, Nick Zieminski, Frances Kerry Organizations: Black, REUTERS, Shoppers, National Retail Federation, Insider Intelligence, Barclays, Macy's, Adobe Analytics, Adobe, Walmart, Argos, PlayStation, Apple, Thomson Locations: Westbury , New York, U.S, RALEIGH, N.C, New Milford , Connecticut, . U.S, Harlem, Manhattan, France, Italy, Spain, Zara, Canary Wharf, London, British, Paris, Madrid, New York, Raleigh , North Carolina, Bengaluru

☆ British investment managers get green light for tokenised funds
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kevin Coombs/File Photo Acquire Licensing RightsLONDON, Nov 24 (Reuters) - British investment managers have got the go-ahead to develop tokenised funds, in which assets are split into smaller tokens backed by blockchain technology, the industry's trade body said on Friday. Tokenisation, or fractionalisation, of funds will enable a fund's assets to trade more cheaply and transparently and investors to buy into a wider range of assets, industry proponents say. Funds authorised by Britain's Financial Conduct Authority can take the first steps towards offering tokenised funds, provided the investments are in mainstream assets and valuation and settlement arrangements don't change, the Investment Association said in a statement. Scrimgeour is chair of a working group which is working with the FCA and Britain's finance ministry to open up opportunities for tokenised funds. Investment managers and exchanges in the United States, Europe and Asia have already taken tentative steps in offering tokenised funds.

Persons: Kevin Coombs, tokenisation, Michelle Scrimgeour, Scrimgeour, Carolyn Cohn, Elizabeth Howcroft, Sharon Singleton Organizations: REUTERS, Britain's Financial, Investment Association, Legal, General Investment Management, FCA, BlackRock, Investment, Thomson Locations: Canary Wharf, London, Britain, United States, Europe, Asia

☆ The ultimate work perk? This company provides a free place to stay in Spain
▼ + stars: | 2023-11-23 | by ( Marylou Costa | Shalbha Sarda | ) www.cnbc.com time to read: +6 min

But employees of the Polish company PhotoAid needn't bother. The company, which helps travelers take their own passport photos at home, allows its employees to stay at an apartment in Spain for free — provided they work while they're there. Employees can stay up to three weeks at a time at the Tenerife apartment and can visit as many times as they like. How the 'workcations' workPhotoAid is a small company with a young workforce, so most employees don't have children, said Mlodzki. Source: PhotoAid

Persons: PhotoAid, Rafal Mlodzki, Mlodzki, Marcin, Tomasz Mlodzki —, —, Aleksandra Staromiejska, Staromiejska, Michel Jonca Organizations: Employees, CNBC Travel Locations: Spain, Tenerife, Canary Islands, Morocco, Warsaw, Tenerife's, Santa Cruz de Tenerife, vermouth, Workation, Macizo, Poland

☆ LSEG names Publicis finance chief Michel-Alain Proch as CFO
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: 1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsNov 20 (Reuters) - The London Stock Exchange Group (LSEG.L) on Monday named Michel-Alain Proch as its new finance chief, starting March 1, 2024. Proch, who currently serves as group CFO of advertising group Publicis <PUBP.PA>, takes on the role from Anna Manz, who stepped down in May. Last week, LSEG, which owns London's 300-year old stock exchange, raised its mid-term growth guidance to "mid-to-high single" digits and said it would return a billion pounds to shareholders in 2024 as it looks beyond the integration of data and analytics company Refinitiv. Reporting by Eva Mathews in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Michel, Alain Proch, Proch, Anna Manz, Eva Mathews, Sonia Cheema Organizations: London Stock Exchange, REUTERS, Thomson Locations: Canary Wharf, London, Britain, Bengaluru

☆ Climate change: The world briefly smashed through the 2-degree warming limit for the first time ever
▼ + stars: | 2023-11-20 | by ( Angela Dewan | Laura Paddison | ) edition.cnn.com time to read: +5 min

Provisional ERA5 global temperature for 17th November from @CopernicusECMWF was 1.17°C above 1991-2020 - the warmest on record. Our best estimate is that this was the first day when global temperature was more than 2°C above 1850-1900 (or pre-industrial) levels, at 2.06°C. According to the Intergovernmental Panel on Climate Change, the world needs to decrease emissions by 45% by the end of this decade compared to 2010 to have any hope of limiting global warming to 1.5 degrees Celsius above pre-industrial levels. Another UN report also found that the world is planning to blow the fossil fuels production limit that would keep a lid on global heating. By 2030, countries plan to produce more than twice the limit of fossil fuels that would cap warming at 1.5 degrees.

Persons: Samantha Burgess, Sam Burgess 🌍🌡, Du, ks to Organizations: CNN, Provisional Locations: Europe, @CopernicusECMWF

☆ Spanish Prime Minister Pedro Sanchez's new cabinet
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +6 min

Spain's Prime Minister Pedro Sanchez takes the oath of office during a ceremony at Zarzuela Palace in Madrid, Spain November 17, 2023. Andres Ballesteros/Pool via REUTERS Acquire Licensing RightsNov 20 (Reuters) - Spanish Prime Minister Pedro Sanchez on Monday announced his new cabinet, keeping the same number of 22 ministers, 12 women and 10 men, despite reshuffling some of their portfolios. SOCIALIST MINISTERS:NADIA CALVINO - ECONOMYCalvino remains as Sanchez's first deputy prime minister and top economic expert. FELIX BOLANOS - JUSTICEBolanos saw his profile boosted by heightened media exposure while acting as Sanchez's de facto cabinet chief. SIRA REGO - CHILDREN AND YOUTHThe second-in-command and main spokesperson for the United Left, she became an MEP in 2019.

Persons: Pedro Sanchez, Andres Ballesteros, NADIA CALVINO, Calvino, Sanchez's, TERESA RIBERA, Ribera, MARIA JESUS MONTERO, Sanchez, Montero, FELIX BOLANOS, JUSTICE Bolanos, JOSE MANUEL ALBARES, Arancha Gonzalez Laya, MARGARITA ROBLES, Robles, FERNANDO GRANDE, Miquel Iceta, PILAR ALEGRIA, Alegria, Isabel Rodriguez, ISABEL RODRIGUEZ, Rodriguez, JOSE LUIS ESCRIVA, DIANA MORANT, LUIS PLANAS, Puente, Alberto Nunez Feijoo, JORDI HEREU, Hereu, Hector Gomez, ANGEL VICTOR TORRES, Torres, ELMA SAIZ, Escriva, Redondo, Podemos party's Irene Montero, SUMAR, YOLANDA DIAZ, LABOUR Diaz, Sumar, MONICA GARCIA, Garcia, Isabel Diez Ayuso, ERNEST URTASUN, PABLO BUSTINDUY, Bustinduy, Alberto Garzon, Ione Belarra, SIRA REGO, David Latona, Aislinn Laing, Grant McCool Organizations: Spain's, REUTERS Acquire, Spanish, Monday, European Investment Bank, JUSTICE, High, Culture, Social Security, Universities, Democratic, Socialist, ANA REDONDO, LABOUR, Mas Madrid, Greens, European Free Alliance, Consumer Affairs, United Left, Thomson Locations: Zarzuela, Madrid, Spain, Dubai, France, Morocco, Ukraine, Melilla, Gandia, Valladolid, Barcelona, Canary, Bolanos, Pamplona, Navarre, Mas, Podemos, Gaza, SIRA, Israel

Sanchez's confirmation as premier would end four months of uncertainty since an election in July produced no outright winner. Authorities said 15 people were arrested in a 2,000-person protest on Wednesday night outside the Socialist Party headquarters in Madrid following clashes with police. Feijoo, who accused Sanchez of undermining the rule of law on Wednesday called for mass protests on Saturday Nov 18. Sanchez argued on Wednesday that an amnesty would help to defuse tensions in Catalonia. Reporting by Belen Carreño and Emma Pinedo; Writing by Charlie Devereux; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Pedro Sanchez applauds, amnesties, Catalonia's, Sanchez, Pedro Sanchez, Alberto Nunez Feijoo, Jorge Pueyo, Sumar, Patxi Lopez, Feijoo, Miriam Nogueras, Nogueras, Belen Carreño, Emma Pinedo, Charlie Devereux, Sharon Singleton Organizations: Spain's, Socialist, People's Party, Sanchez's Socialist Party, PSOE, ERC, Socialists, Authorities, Socialist Party, Thomson Locations: MADRID, Spain, Catalonia, Basque Country, Galicia, Madrid, Socialist

☆ Sanchez wins Spanish parliament's backing for new term as PM
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

His Spanish Socialist Workers' Party (PSOE) had reached separate deals with a number of regional parties to earn their backing, including a contentious bill on amnesty for Catalan separatists that has sparked protests across Spain. Sanchez's bid garnered 179 votes in favour and 171 against, with no abstentions. The "nays" stemmed from the conservative People's Party, the far-right Vox and the People's Union of Navarre's lone lawmaker. PSOE's hard-left ally Sumar, Catalan pro-independence parties Junts and ERC, Basque parties PNV and EH Bildu, Galicia's BNG and the Canary Coalition all voted for Sanchez, who first acceded to the office in 2018. Reporting by Belén Carreño, Inti Landauro and Emma Pinedo; Writing by David Latona; Editing by Andrei KhalipOur Standards: The Thomson Reuters Trust Principles.

Persons: Pedro Sanchez, amnesties, Catalonia's, Sanchez's, Vox, Navarre's, PSOE's, Sumar, Galicia's BNG, Sanchez, Belén Carreño, Inti Landauro, Emma Pinedo, David Latona, Andrei Khalip Organizations: Spain's, Spanish Socialist Workers ' Party, PSOE, People's Party, People's Union, Junts, ERC, Canary Coalition, Thomson Locations: MADRID, Spain, Catalan, Basque

☆ Iraq becomes EBRD shareholder, Senegal and Ghana apply to join
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

People walk past the new headquarters of the European Bank for Reconstruction and Development (EBRD) in Canary Wharf, London, Britain, September 14, 2023. REUTERS/Alishia Abodunde/File photo Acquire Licensing RightsLONDON, Nov 16 (Reuters) - Iraq has become the 74th member of the European Bank for Reconstruction and Development, the multilateral lender said on Thursday, while Ghana and Senegal have also applied to join. Iraq first submitted its request to join the bank in 2018, and its shareholder status enables it to apply to become a recipient economy, which would unlock EBRD finance and policy support. "When the time comes, we are looking forward to starting work in Iraq, applying our expertise to developing its economy," EBRD President Odile Renaud-Basso said in a statement. Renaud-Basso told Reuters that Senegal and Ghana had submitted applications to join the bank in the latest sign of its push into sub-Saharan Africa.

Persons: Alishia, Odile Renaud, Basso, Renaud, Libby George, Marc Jones, Christina Fincher Organizations: European Bank for Reconstruction, REUTERS, Reuters, Ukraine, Thomson Locations: Canary Wharf, London, Britain, Iraq, Ghana, Senegal, Saharan Africa, Benin, Ivory Coast, Europe, East, North Africa, Asia

☆ Pedro Sanchez secures another term as Spain's prime minister, set to form government
▼ + stars: | 2023-11-16 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Spanish acting Prime Minister Pedro Sanchez during the investiture debate at the Spanish Parliament on Nov. 15, 2023 in Madrid, Spain. Spain's parliament has empowered acting Prime Minister Pedro Sanchez to assemble a government, following two failed investiture attempts from right-wing opposition leader Alberto Núñez Feijóo. Sanchez, who helms the Spanish Socialist Workers' Party (PSOE), won 179 votes in favor, with 171 against and no abstentions. It ends a four-month political deadlock following inconclusive general elections in July, when Feijóo's People's Party won a 136 majority of seats, while the Socialists clinched 121. Sanchez himself had called for the vote after his party hemorrhaged losses in regional and municipal elections in late May.

Persons: Pedro Sanchez, Alberto Núñez Feijóo, Sanchez, helms, Feijóo's, Vox, Junts, Carles Puigdemont Organizations: Spanish, Spanish Socialist Workers ' Party, PSOE, Feijóo's People's Party, Socialists, Catalan, Catalonian Locations: Madrid, Spain, Spain's, Catalonia, Galicia, Basque Country, Belgium

☆ Sanchez Wins Spanish Parliament's Backing for New Term as PM
▼ + stars: | 2023-11-16 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

MADRID (Reuters) - Spain's lower house of parliament on Thursday voted to make Pedro Sanchez prime minister for another term by a wafer-thin margin, ending a protracted deadlock after an inconclusive general election in July. His Spanish Socialist Workers' Party (PSOE) had reached separate deals with a number of regional parties to earn their backing, including a contentious bill on amnesty for Catalan separatists that has sparked protests across Spain. The "nays" stemmed from the conservative People's Party, the far-right Vox and the People's Union of Navarre's lone lawmaker. PSOE's hard-left ally Sumar, Catalan pro-independence parties Junts and ERC, Basque parties PNV and EH Bildu, Galicia's BNG and the Canary Coalition all voted for Sanchez, who first acceded to the office in 2018. (Reporting by Belén Carreño, Inti Landauro and Emma Pinedo; Writing by David Latona; Editing by Andrei Khalip)

Persons: Pedro Sanchez, Sanchez's, Vox, Navarre's, PSOE's, Sumar, Galicia's BNG, Sanchez, Belén Carreño, Inti Landauro, Emma Pinedo, David Latona, Andrei Khalip Organizations: Spanish Socialist Workers ' Party, PSOE, People's Party, People's Union, Junts, ERC, Canary Coalition Locations: MADRID, Spain, Catalan, Basque

People walk past the new headquarters of the European Bank for Reconstruction and Development (EBRD) in Canary Wharf, London, Britain, September 14, 2023. REUTERS/Alishia Abodunde/File photo Acquire Licensing RightsSummaryCompanies Move follows Hungary govt exit from Erste unitGovt raising financing for airport transactionExit 'good news' for sector's stability -EBRDBUDAPEST, Nov 15 (Reuters) - The European Bank for Reconstruction and Development is selling its 15% stake in Erste Group Bank's (ERST.VI) Hungarian unit back to the Austrian group after the Hungarian government's recent exit from the bank, a top EBRD official told Reuters. Austrian lender Erste said on Friday it was repurchasing a 15% stake in its Hungarian subsidiary, currently held by Hungarian state-owned Corvinus International Investments. Francis Malige, EBRD managing director of financial institutions, said the investment had been designed to help the Hungarian bank recapitalise while supporting a positive relationship with the authorities. "We received a call notice from Erste last Friday and are proceeding with the sale of our stake to the group, based on terms agreed during our 2016 investment."

Persons: Alishia, Viktor Orban, Marton Nagy, Francis Malige, Malige, Orban, Gergely Szakacs, Louise Heavens Organizations: European Bank for Reconstruction, REUTERS, Erste Group, Reuters, Economic, Budapest Airport, Austrian, Erste, International Investments, Erste Bank, Thomson Locations: Canary Wharf, London, Britain, Hungary, Erste, BUDAPEST, Austrian, Hungarian, Erste Bank Hungary

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