Germany plans almost 180 bln euros of new debt in 2021

James Wolfensohn, former World Bank president, passes away

Wolfensohn was a guiding force for a couple of the most well-known cultural institutions in the U.S.

James Wolfensohn, who served as the president of the World Bank for 10 years and was a guiding force for a couple of the most well-known cultural institutions in the US, has died. He was 86.

Wolfensohn died on Wednesday at his home in Manhattan, according to the Institute for Advanced Study, where he had been a past chair of the board. His son and one of his two daughters also confirmed his death in media reports.

Wolfensohn, born in Australia, worked on Wall Street for many years before taking over as the head of the World Bank, a loan-offering global development organisation, in 1995. He was nominated by then-President Bill Clinton.

In his time there, he took on issues like corruption in the organisation’s development projects, and emphasised paying attention to the needs and priorities of the countries doing the projects.

He was also a lover of the arts, serving as chair of New York’s Carnegie Hall in the 1980s and the Kennedy Center in Washington in the first half of the 1990s. At both places, he worked to boost finances and renovate physical spaces.

He even performed, holding cello performances with high-profile musician friends at Carnegie Hall on significant birthdays.

Along with his three children, Wolfensohn is survived by seven grandchildren. His wife, Elaine, died in August.

Trump says coronavirus vaccine deliveries to begin in US next week

WASHINGTON (REUTERS) – US President Donald Trump said on Thursday (Nov 26) that delivery of the coronavirus vaccine would begin next week and the week after.

Speaking to US troops overseas via video link to mark the Thanksgiving holiday, Trump said the vaccine would initially be sent to front-line workers, medical personnel and senior citizens.

Some Whole Foods Customers Complain Turkeys Smelled Bad

It will be a turkey-free Thanksgiving for a number of Whole Foods customers in seven U.S. states.

Unhappy customers took to Twitter to complain their fresh turkeys smelled bad.Amazon.com Inc.’s upscale grocer confirmed it has since tried to contact customers who bought them after receiving consumer feedback.

”We discovered a small number of fresh turkey products in our South region that did not meet our high expectations for quality,” Whole Foods said in response to a query, without giving a specific number of customers affected. It added that “these products do not pose any known health risks.”

The product was sold in an unspecified number of Whole Foods stores in Alabama, Georgia, Mississippi, North Carolina, South Carolina and Tennessee, as well as two in the Florida Panhandle. The company said it will offer a $50 Amazon gift card for affected customers.

Obama’s former NYC college apartment on sale for nearly $1.5M

The Upper Manhattan apartment where former President Barack Obama crashed as a college student is back on the market for $1.45 million.

Obama, 59, lived in the three-bedroom, two-bathroom apartment at 622 West 114th St. when he was studying political science at Columbia University in the 1980s.

The Morningside Heights pad first hit the market in September for $1.475 million, according to StreetEasy. That’s almost the same price that the buyer paid in 2015, shelling out $1.44 million, according to property records.

The commander in chief isn’t the only notable former resident. Legendary filmmaker Cecil B. DeMille also once lived here, from 1906 to 1913, according to a plaque outside the landmarked, six-story building.

The renovated co-op, between Riverside Drive and Broadway, comes with a windowed, eat-in kitchen. The listing was first reported by People magazine.

The listing brokers are Scott Harris and Dean “Riley” Moody Jr., of Brown Harris Stevens.

Obama also lived in a third-story walk up at 142 West 109th St., while he was a Columbia undergrad, as The Post previously reported.

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European Economics Preview: German Gfk Consumer Confidence Due

Consumer confidence from Germany and minutes of the monetary policy meeting of the European Central Bank are due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, German Gfk consumer confidence survey results are due. The forward-looking consumer sentiment index is forecast to fall to -5.0 in December from -3.1 in October.

At 2.45 am ET, France’s statistical office Insee is set to issue consumer sentiment data for November. The consumer confidence index is expected to weaken to 92 in November from 94 in October.

At 3.00 am ET, the National Institute of Economic Research publishes Sweden’s economic tendency survey results.

Half an hour later, Sweden’s central bank is set to announce its interest rate decision. The bank is expected to hold its key rate at zero percent.

In the meantime, producer prices and household lending data is due from Statistics Sweden.

At 4.00 am ET, the European Central Bank is scheduled to issue monetary aggregates for October.

At 7.30 am ET, the ECB releases the account of the monetary policy meeting of the governing council held on October 28 and 29.

Germany plans almost 180 bln euros of new debt in 2021

BERLIN, Nov 27 (Reuters) – Germany plans to borrow 179.82 billion euros ($214.36 billion) next year, nearly double the 96 billion euros initially foreseen, as Berlin extends aid measures to mitigate impact of the COVID-19 pandemic on Europe’s biggest economy, lawmakers told Reuters on Friday.

Germany’s parliamentary budget committee of lawmakers agreed on the plans in the early hours of Friday after 17 hours of talks.

($1 = 0.8389 euros)