Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
EU countries are preparing to back Kristalina Georgieva for a second term as managing director of the IMF, paving the way for her formal nomination at the Spring Meetings in April in Washington.
Finance ministers of EU27 countries are expected to express support for her on Tuesday at a gathering in Brussels, people familiar with the discussions said. European backing is key to obtain the post, as the head of the IMF has historically been a European, while the World Bank, its sister institution, has historically been headed by an American.
Georgieva, a Bulgarian economist, was elected to the post in 2019. Her first term in office is set to expire at the end of September.
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Georgieva is likely to formally announce her bid for a second term as soon as Friday, the people added. The IMF was not immediately available for comment.
France has already indicated it would support Georgieva for a second term. Finance Minister Bruno Le Maire said last week that she was “the right person, for the right job, at the right time,” adding that “when you have someone doing a great job, it’s always better to keep the same person at the same post”.
President of the Eurogroup Paschal Donohoe, who had been named as a possible candidate in case Georgieva did not run again, told the Financial Times: “Kristalina has done an excellent job as managing director of the IMF,” adding: “When she makes her intentions clear, I’m sure countries will respond back.”
A person was killed Monday in an ICE-involved shooting in Biddeford, Maine, according to the state’s speaker of the house — just days after a federal agent fatally shot a Mexican immigrant during a traffic stop in Houston, sparking mass protests and demands for transparency and accountability.
“A person was killed. ICE was involved. State Police and the Department of Public Safety are now on scene to gather details and would expect the FBI to investigate as well,” Maine House Speaker Ryan Fecteau said in a statement on Facebook. “These are the details that I have at this time. I will provide further updates, as they are relayed to me.”
CNN has reached out to Immigration and Customs Enforcement and the Department of Homeland Security for comment.
Biddeford police told CNN there was a “police incident” in the area, about 18 miles south of Portland, and said there is no threat to the public at this time, but declined to provide additional details.
Maine Democratic US Rep. Chellie Pingree said she was “disturbed and angry” upon hearing the news of the shooting. She called for an investigation into the incident, adding a question directed at ICE officers: “Why are you in Maine?”
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The incident comes less than a week after a man on his way to work in Houston was shot and killed by an ICE agent. Lorenzo Salgado Araujo was killed during a traffic stop in what ICE initially described as a targeted enforcement operation, though a source later said Salgado Araujo was not the target of the operation.
The shooting has reignited calls for accountability among ICE agents, which reached a fever pitch earlier this year after 37-year-old mother Renee Good and 37-year-old ICU nurse Alex Pretti were killed by federal immigration agents during the Trump administration’s operation in Minneapolis.
The administration dubbed a similar surge in immigration enforcement across Maine in January “Operation Catch of the Day.” The ACLU and other advocates filed a lawsuit against federal immigration agents for “abducting a lawful immigrant” during the surge.
Some community groups and advocates that rallied against the surge earlier this year have already started to organize in response to Monday’s shooting. The group “Maine Resists” has planned an emergency community rally in the city at noon. The racial justice and immigrant rights group Project Relief said it is in touch with the victim’s family.
“Gus,” a Tyrannosaurus rex skeleton, is pictured during a press preview at Sotheby’s in New York City on July 1.
Timothy A. Clary/AFP via Getty Images
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Timothy A. Clary/AFP via Getty Images
If you ever wanted to own an actual T. rex and not just a toy, you now have a chance. But it’s going to cost you some bones. Millions of them.
The Tyrannosaurus rex fossil known as “Gus” will go up for auction Tuesday morning at Sotheby’s New York City office. The starting bid for the dinosaur is $19 million and the auction house estimates it could sell for $20 to $30 million.
Gus was found in Harding County, S.D., on private land in 2021, according to Sotheby’s. The T. rex skeleton, which is 38 feet long and 12 and half feet tall, is believed to be from the late Cretaceous period from about 67 million years ago.
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“Judging from the overall size and degree of bone development it can be determined that Gus’ skeleton belonged to a very large, robust, adult individual,” the auction house said in the listing.
Thomas Heitkamp, president of Theropoda Expeditions, the company that excavated the site, said in a Sotheby’s video about the discovery that nearly a thousand pieces were collected.
The creature is named after the owner of the ranch where it was discovered, Gary “Gus” Licking. He died during the excavation process, which ran through 2023, and was not able to see Gus fully assembled, according to Cassandra Hatton of Sotheby’s.
“Gary had for years roamed around his 6,500 acre property and seeing T. rex teeth and little bits of fossils and such, and he realized that there was probably something really important under the ground,” Hatton said in the video.
Gus is one of the largest and most complete T. rex specimens ever found, according to Sotheby’s.
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It’s not the first time dinosaur bones have been for sale to the highest bidder.
The first auction for a dinosaur was held by Sotheby’s in 1997. The creature, a T. rex named Sue, was purchased by a few large companies for the Field Museum in Chicago. It went for $8.4 million.
In 2024, Apex the stegosaurus sold for $44.6 million, the most ever for a dinosaur fossil. It was purchased by billionaire investor Ken Griffin, who loaned it to the American Natural History Museum in New York for four years.
Paleontologist Scott Persons, who is the curator of natural history at the South Carolina State Museum, says dinosaurs fetching tens of millions of dollars reflects an “increase in market demand.”
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“More and more dinosaurs are being sold this way and at ridiculous prices,” he says in an email to NPR.
He says people who can afford to spend this much on an auction could do more to support further research.
“A sum like that could endow a research program at a public museum of your choosing,” he says. “That would pay for a career’s worth of fieldwork, the discovery of whole new species, and the public exhibition of the findings.”
Note: Map shows the area with a shake intensity of 3 or greater, which U.S.G.S. defines as “weak,” though the earthquake may be felt outside the areas shown. All times on the map are Pacific time.The New York Times
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A light, 4.1-magnitude earthquake struck in Southern California on Sunday, according to the United States Geological Survey.
The temblor happened at 3:38 a.m. Pacific time about 1 mile southeast of Frazier Park, Calif., data from the agency shows.
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U.S.G.S. data earlier reported that the magnitude was 4.4.
As seismologists review available data, they may revise the earthquake’s reported magnitude. Additional information collected about the earthquake may also prompt U.S.G.S. scientists to update the shake-severity map.
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Aftershocks detected
Subsequent quakes have been reported in the same area. Such temblors are typically aftershocks caused by minor adjustments along the portion of a fault that slipped at the time of the initial earthquake.
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Quakes and aftershocks within 100 miles
Aftershocks can occur days, weeks or even years after the first earthquake. These events can be of equal or larger magnitude to the initial earthquake, and they can continue to affect already damaged locations.
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When quakes and aftershocks occurred
All times are Pacific time.The New York Times
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Sources: United States Geological Survey (epicenter, aftershocks, shake intensity); LandScan via Oak Ridge National Laboratory (population density) | Notes: Shaking categories are based on the Modified Mercalli Intensity scale. When aftershock data is available, the corresponding maps and charts include earthquakes within 100 miles and seven days of the initial quake. All times above are Pacific time. Shake data is as of Sunday, July 12 at 11:54 a.m. Eastern. Aftershocks data is as of Sunday, July 12 at 2:24 p.m. Eastern.