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EU recovery fund plan hangs in balance on third day of deadlocked summit Reuters  |  Jul 19, 2020 12:41PM ET By Marine Strauss and Andreas Rinke BRUSSELS (Reuters) - A European Union plan to breathe life into economies throttled by the coronavirus pandemic hung in the balance on Sunday as leaders quarrelled over the level of spending and what strings to attach to it. On the third day of a tense summit in Brussels, the 27 EU states were still seeking a compromise over a 1.8-trillion-euro ($2.06-trillion) package for the bloc's next long-term budget and a recovery fund to haul Europe out of its deepest recession since World War Two. German Chancellor Angela Merkel said an agreement might be beyond reach. Austrian Chancellor Sebastian Kurz said a deal was possible but there was still "a way to go", with "frugal" wealthy northern countries pushing for a smaller recovery fund. Most of the proposed 750-billion-euro recovery fund, which is to be raised on capital marke...

We often see various consumer confidence reports released, such as the The U.S. Consumer Confidence Index (CCI). How does this relate to the economy or forex trading? Let us find out more. What is the Consumer Confidence Index Report The consumer confidence index report is usually a survey done on consumers on how they feel about the current and ongoing state of the economy. The more confident the people surveyed felt about the economy, the better the index. If people are generally expressing pessimism, the index will be lower. Why are Consumers Important to the Economy Consumers are the building blocks of an economy. They buy good and services thus leading to business activities and international trade on a larger scale. When consumers are confident in the economy, they tend to spend more and this creates a flow of economic optimism and advantages. Let us refer to the diagram below. As you can see from the flow diagram above, the increase in consumer confidence leads to spending. This...

EU nations deadlocked at tense coronavirus recovery summit Reuters  |  Jul 18, 2020 01:31PM ET By Gabriela Baczynska and Francesca Landini WARSAW/ROME (Reuters) - A stand-off between EU leaders at a summit in Brussels on Saturday threatened to derail plans for a massive stimulus fund to breathe life into their coronavirus-hammered economies. "We are in an impasse now. It is more complex than what was expected," Italian Prime Minister Giuseppe Conte said in a video on Facebook (NASDAQ: FB ) as the 27 European Union leaders neared the end of a second day of talks. "There are many issues that remain unresolved.” The budget commissioner of the bloc's executive reminded the leaders - who wore masks and kept their distance from each other - that COVID-19 was still among them and they needed to act. "Just a solemn reminder: the Corona crisis is not over: infections on the rise in many countries," Johannes Hahn tweeted. "High time to reach an agreement which a...

G20 finance officials poised to recommend extension of debt freeze Reuters  |  Jul 18, 2020 10:50AM ET   Be the first to comment WASHINGTON (Reuters) - Finance officials from the Group of 20 major economies are poised to recommend extending a freeze in official bilateral debt payments by the world's poorest countries, according to sources briefed on a virtual G20 meeting taking place Saturday. Multiple sources said there was strong support for extending the Debt Service Suspension Initiative agreed in April into 2021, but the move would not be finalized until later in the year, when G20 leaders are due to meet. World Bank chief economist Carmen Reinhart told reporters on Friday that the move was "highly probable" since the novel coronavirus pandemic was more severe and taking longer to overcome than initially expected. The debt standstill, which is due to expire at the end of 2020, has proven challenging to implement, with only 41 of 73 eligible countries expressing inter...

Coronavirus Couldn’t Stop This Black Female Director’s First Summer Blockbuster Netflix’s new action flick ‘The Old Guard’ aims to become a global franchise.  By  Lucas Shaw July 10, 2020, 6:30 AM EDT The Old Guard   Source: Netflix Inc. Gina Prince-Bythewood initially didn’t want her new movie to be released by Netflix Inc. The 51-year-old director pushed Skydance Productions, the producer of “The Old Guard,” to sell the film to a traditional studio that would release it in theaters across the planet. This was her first movie based on a graphic novel, and she wanted people to see it on the big screen. While Netflix was offering substantially more money, it couldn’t get her movie into major theater chains. But Prince-Bythewood started to waver as soon as she considered what Netflix had to offer. Throughout her career, she had been told that people outside the U.S. didn’t want to see movies with Black stars. Three of her four previous fil...

Twitter says attackers downloaded data from up to eight non-verified accounts Reuters  |  Jul 18, 2020 06:00AM ET (Reuters) -  Twitter Inc  (NYSE: TWTR ) said on Saturday that hackers were able to download account information for up to eight accounts involved in the hack of its systems this week, but said none of them were verified accounts. The company said the unidentified attackers targeted 130 accounts, and were able to reset passwords to take control of 45 of them and tweet from those accounts. Hackers accessed Twitter's internal systems to hijack some of the platform's top voices including U.S. presidential candidate Joe Biden, reality TV star Kim Kardashian, former U.S. President Barack Obama and billionaire Elon Musk and used them to solicit digital currency. Publicly available blockchain records show the apparent scammers received more than $100,000 worth of cryptocurrency. In the attack that occurred on Wednesday, Twitter said hackers were able to view pers...

The 7 Best Traders in the World Posted By: Steve Burnson: July 17, 2020 To answer the question of who are the best traders in the world we have to consider several things. To be considered the best you would have to filter for these following quantified variables.      1 Long term returns on assets under management       2 Size of assets under management.       3 Consistency of returns.       4 Size of drawdowns in trading capital.       5 If they ever blew up accounts.       6 Personal wealth built through trading.  The richest and best traders in the world aren’t trading their own accounts to pay the weekly grocery bill and monthly rent they are managing billions of dollars to grow their clients capital over the long term. Most also trade huge positions for longer periods of time. Few day trade   but a few firms use high frequency trading programs fo...