The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
(adds source, details)
BRUSSELS, July 26 (Reuters) - European Union governments are working to select one European candidate from a list of five names to succeed Christine Lagarde at the helm of the International Monetary Fund, a French official said on Friday.
Bulgaria's Kristalina Georgieva, chief executive of the World Bank, has been added to a list of four names that were discussed by EU finance ministers at a G7 meeting last week, the official said.
France is leading the selection process for a European candidate. The managing directors of the Washington-based IMF have so far always been European, under a deal with the United States that gives the presidency of the World Bank to a U.S. candidate.
In addition to Georgieva, the other four European candidates that are under consideration at this stage are: Jeroen Dijsselbloem, the Dutch former head of euro zone finance ministers; Spanish economy minister Nadia Calvino; Mario Centeno, the Portuguese chairman of euro zone finance ministers; and Finnish central bank governor Olli Rehn.
EU governments remain split, with northern European countries preferring Dijsselbloem or Rehn, and southern states pushing for Calvino or Centeno, a European official said.
Georgieva, 65, is likely to have the support of eastern European countries, but her candidacy would require a change in the IMF's rules, which require candidates for the post of managing director to be less than 65 years old.
EU states agreed those rules should be changed, but the decision can only be taken by the IMF itself, which has begun a debate on the matter, the French official said.
The IMF board announced on Friday that the selection process for the next IMF head will start on July 29 and will last until Sept. 6, which will be the last day to submit a candidacy. The new managing director will be chosen by Oct. 4.
If Europeans failed to reach a compromise on any of the five names under discussion, they could field more than one candidate, the European source said, although that would be "a bad signal" and could weaken Europe's chance of reappointing the IMF chief.
European Central Bank President Mario Draghi on Thursday ruled himself out of contention for the IMF job on Thursday, after reports that France was lobbying hard for him to take the role. Lagarde has been nominated to succeed Draghi at the ECB.
Candidates from other countries are also likely to be pushed forward to lead the Fund, whose membership includes nearly all the world's nations.
If divisions remained within the EU bloc, new European names could also emerge, the official added.
France's Finance Minister Bruno Le Maire had said he was aiming for a decision on a European candidate by end-July.
But if no compromise is found by next week, the decision could be made on the sidelines of a G7 leaders' summit on 24-26 August in Biarritz, France, the European official said.
(Reporting by Francesco Guarascio zfraguarascio; Editing by Catherine Evans)