
France is seen supporting Kristalina Georgieva to be the next head of the International Monetary Fund as the EU seeks to agree on a single candidate ahead of the lender's Sept 6 deadline, according to several European officials familiar with the deliberations.

The European Commission will deem that Canada, Brazil, Singapore, Argentina and Australia don't regulate credit ratings agencies with the same rigor as the EU, the Financial Times reported on Sunday, citing a document. The decision would withdraw some market access rights of the country, removing a status that makes it possible for European banks to rely on the ratings.

By Gwynne Dyer - It has been suggested that Boris Johnson (who becomes the prime minister of the United Kingdom, UK) is what you would get if Donald Trump had been educated at Eton and Oxford. Maybe, although there is a great gulf between Trump’s bombastic self-promotion and Johnson’s self-deprecating, rather shambolic persona.

Ballots closed in the race to become Britain's next prime minister on Monday, with the favorite Boris Johnson facing more defections by ministers over his Brexit plan. The country's new leader will take the reins this week and have just three months to attempt to resolve a three-year Brexit crisis that could damage economies on both sides of the Channel and determine the fate of generations of Britons.

British finance minister Philip Hammond said on Sunday that he would resign if Boris Johnson became prime minister because he felt unable to support a leader happy to take the country out of the European Union without a deal.

Britain might be entering a full-blown recession that a no-deal exit from the European Union would compound, blowing a 30 billion-pound hole in the public finances, a budget watchdog said. The Office for Budget Responsibility said the economy probably flat-lined or might have contracted in the second quarter.

The impact of Brexit on the Falkland Islands' fishing industry could be “significant” according to the fishing industry, contradicting lawmaker MLA Roger Spink’s view in last week's Penguin News that there were measures that could be undertaken to mitigate the impact of potential tariffs.

Last week Penguin News reported on the uncertainty surrounding Brexit causing a slump in meat sales from the Falkland Islands Meat Company and lower prices.

The government of Nicolás Maduro and the Venezuelan opposition will sit down at the same table to negotiate an exit to the political, social and economic crisis that the country is experiencing, this time in Barbados, despite the little motivation that exists among the Venezuelans to consolidate an agreement and the unsuccessful attempts of the past.

A trade deal between the European Union and South America’s Mercosur bloc of countries could facilitate other agreements and open up new markets for Brazil’s massive beef-packing industry, a trade group said.