
Bavarian Loan Works: Loanees play their final matches of 2024
US Fed rate cut: Why it matters to Kenya, the worldCustomers of Oregon’s largest investor-owned electric utility pay more than 40% more for their electricity today than they did just four years ago. The massive increase in such a short period has garnered scrutiny from state leaders, and calls for greater transparency about what’s truly driving the increases. Oregon’s U.S. Sen. Ron Wyden, a Democrat, issued a public letter Monday to Portland General Electric, or PGE, CEO Maria Pope requesting she provide documentation within 30 days of customer use and load growth, as well as details about how the company has spent historic federal subsidies meant to reduce ratepayer burden. In a press conference in Portland Monday focused on Medicare, Wyden said rising electricity prices is among the number one concerns he hears from Oregonians. “A lot of them feel like they’ve just been hit by a wrecking ball,” Wyden told reporters. “The people I’m hearing from are balancing the food bill, against the rent bill, against the gas bill, and there’s another PGE rate hike, apparently, on offer right now, and folks are just telling me this is not sustainable.” PGE, which serves 900,000 customers in Oregon, raised rates , on average, by 11% in 2022, 7% in 2023, and 18% in 2024. It is currently asking the Oregon Public Utilities Commission to raise rates, on average, by about 7.3% in 2025. The commission will vote on whether to approve the rate hike by the end of the year. Wyden also expressed anger at the high number of customers PGE has shutoff from electricity due to late or nonpayment. In April, three months after a cold snap in January, PGE shut off power to a record number of households – 4,700 in one month alone – due to nonpayment, according to the Citizens’ Utility Board, a watchdog group established by Oregon voters in 1984 to represent the interests of utility consumers. Representatives from PGE did not respond to a request for comment by Monday afternoon. In petitioning the Public Utilities Commission to approve their most recent rate increase, PGE officials listed capital investments, rising insurance costs, a desire for higher profit margins and increased employee pay as reasons they needed to collect more revenue from customers. The company’s stock ( POR ), is up nearly 16% over the last year, and Pope’s executive compensation has doubled in the last four years. She went from receiving more than $3.5 million in base salary and other compensation in 2020 to about $7 million in 2023, according to data from the Securities and Exchange Commission and The Oregonian / Oregon Live . ‘Blowing the whistle’ Wyden is requesting a number of details that would offer transparency about which users in the state are driving load growth, and whether they are paying for the costs of that growth or whether the company is shifting that to other small business and residential customers. He’s asked for a sector-based breakdown of all rate increases approved by the Public Utilities Commission in the last five years, and details about specific steps PGE is taking to limit cost increases across its customer base. Bob Jenks, executive director of the Citizens’ Utility Board, said that it shows Wyden, like many in the state, are concerned that PGE is charging residential customers more so that it can afford to supply a growing number of data centers with power. “One of the issues he’s getting at in those questions is the role of data centres and the industrial growth we’re seeing. We’re also concerned that may be where a lot of this rate increase is coming from,” Jenks said. Residential rates for PGE customers have gone up three times faster than rates paid by data centers, according to Jenks. The largest growth in demand for electricity in the Northwest is from data centers owned by tech companies such as Google and Amazon. Demand is growing faster than the West can supply the energy, according to regional transmission authorities. “If it wasn’t for data centers and industrial customers, PGE would have shrunk over the last 10 years,” Jenks said. Wyden is also asking for a full accounting of the number of residential customers the company has disconnected from power over the last five years, details of the total amount of federal funds – including tax incentives such as the Inflation Reduction Act – the company has received over the last five years and how those funds are being spent, with specificity for how they’re being spent to reduce customer burden. “My energy tax credits in the Inflation Reduction Act have supported PGE and utilities across the country by covering up to 30% of the cost of new clean energy installations. Can you please describe what factors are driving the increased costs you are experiencing that are not supported by those credits?” Wyden asked in the letter. The state’s two other investor-owned utilities – Pacific Power and Idaho Power – have also increased rates significantly in recent years. Pacific Power is currently asking the Public Utilities Commission to allow it to increase rates nearly 18% in 2025, for a more than 40% increase in rates since 2020. Idaho Power, which serves about 20,000 customers, was approved by the commission in November to raise its rates rates about 12% on average in 2025. Wyden said it was past time to “put the brakes on any further rate hikes.” “What I wanted to do is blow the whistle on this,” he told reporters. “That is my objective with this letter, to put the brakes on any further rate hikes. After 41%, it’s time to take a timeout and give a break to the ratepayer.” GET THE MORNING HEADLINES. SUBSCRIBEWhat is the gameplay like in Infinity Nikki?
Mpaka 4-4 0-0 8, Benjamin 5-11 3-4 15, N.Krass 1-8 0-0 3, Martinez 1-2 0-0 3, Miles 1-6 2-2 4, Harrison 10-18 6-8 27, Mizell 0-0 1-4 1. Totals 22-49 12-18 61. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.NEW YORK - Brian Thompson, the CEO of UnitedHealth's insurance unit, was killed on Wednesday morning outside a Midtown Manhattan hotel in what police described as a targeted attack by a gunman lying in wait for him. Thompson, 50, was shot around 6:45 a.m. ET (1145 GMT) outside the Hilton on Sixth Avenue, just before the company's annual investor conference. He was rushed to a nearby hospital, where he was pronounced dead. Police said the gunman was at large and they were still investigating a motive. "This does not appear to be a random act of violence," New York City Police Commissioner Jessica Tisch said at a press conference. "Every indication is that this was a premeditated, pre-planned, targeted attack." The suspect, wearing a mask and carrying a gray backpack, fled on foot before mounting an electric bike and riding into Central Park, police said. The killing took place just hours before the city's annual Christmas tree lighting at Rockefeller Center a few blocks away, a televised event that draws massive crowds. Police officials said that event would proceed as planned under heavy security. Thompson's wife, Paulette, told NBC News that he had received some threats, though she did not know any specifics. "Basically, I don’t know, a lack of coverage?" she said, appearing to allude to a potential insurance-related motive, according to the network. "I don't know details. I just know that he said there were some people that had been threatening him." UnitedHealth is the largest U.S. health insurer, providing benefits to tens of millions of Americans, who pay more for healthcare than people in any other country. Thompson had been the CEO of UnitedHealthcare, a unit of UnitedHealth Group, since April 2021. The company has been grappling with the fallout from a massive data hack of its Change Healthcare unit that provides technology for U.S. health providers, disrupting medical care for patients and reimbursement to doctors for months. 'SPECIFICALLY TARGETED' The gunman arrived outside the Hilton about five minutes before Thompson, and he ignored other people walking by. He then shot Thompson in the back when he passed, NYPD Chief of Detectives Joseph Kenny told reporters. "It does appear that the victim was specifically targeted, but at this point we do not know why," Kenny said. The pistol appeared to be fitted with a silencer, according to surveillance video, although Kenny said use of a silencer could not be verified from the images. At about 9 a.m. ET, an hour after UnitedHealth's conference started, Chief Executive Andrew Witty took the stage and announced the program was canceled because of a "very serious medical situation." Baird investment analyst Michael Ha, who attended the UnitedHealth event, said people were frightened, confused and crying in the hotel hallway. "At the time, we did not know what had happened, when it had happened, where it had happened. So we didn't even know if there was a potentially a shooter in the actual building itself," he said. The company later removed photos of its leaders from its website. BUSY TOURIST AREA Dave Ricks, CEO of pharmaceutical company Eli Lilly who spoke at another business conference in New York on Wednesday, said Thompson's killing was shocking. "He was assassinated essentially in the street going to his investor conference." Thompson had worked at UnitedHealth since 2004 in several divisions, according to a biography later removed from the company's website. "Our hearts go out to Brian's family and all who were close to him," the company said in a statement. Ha said Thompson was an "incredibly smart, talented healthcare leader, with such a bright future ahead of him." The police department in Maple Grove, Minnesota, where Thompson lived, said it had no record of threats against him, and the Minneapolis Police Department said there was "no occurrence" of Thompson in its records. In May, a firefighters pension fund in Hollywood, Florida, sued the company and three executives, including Thompson, accusing them of selling a combined $120 million in company shares before a U.S. Department of Justice antitrust probe was disclosed publicly, according to the complaint. The shooting happened at the outset of New York's busy holiday season, expected to bring more than 7.5 million visitors to the city, according to a local tourism bureau. Heather Higginson, a visitor from London staying at the Hilton where the shooting occurred, said the violence was shocking. "That's not what you want to hear at Christmas, is it? ... It's very sad." New York's murder rate spiked after the COVID-19 pandemic, but has since dropped to pre-COVID levels. This year, 347 homicides were recorded in the city through Dec. 1 compared with 370 in the same period of 2023, according to police data. --Reuters
RIVERWOODS, Ill.--(BUSINESS WIRE)--Nov 25, 2024-- Discover Financial Services (NYSE: DFS) (the “Company”) today announced, as required under the New York Stock Exchange (the “NYSE”) Listed Company Manual, that it received a notice (the “NYSE Notice”) from the NYSE on November 19, 2024 that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 with the U.S. Securities and Exchange Commission (the “SEC”) prior to November 18, 2024, the end of the extension period provided by Rule 12b-25 under the Securities Exchange Act of 1934, as amended. The NYSE Notice has no immediate effect on the listing of the Company’s common stock on the NYSE. On July 19, 2023, the Company disclosed that beginning around mid-2007, the Company incorrectly classified certain credit card accounts into its highest merchant and merchant acquirer pricing tier (the “card product misclassification”). Based on information available as of June 30, 2023, the Company recognized a liability of $365 million that was accounted for as the correction of an error. The Company determined that the revenue impact was not material to the consolidated financial statements of the Company for any of the impacted periods. While it was therefore determined that it was not necessary for the Company to restate any previously issued interim or annual financial statements, the cumulative misstatement was deemed material to the three and six months ended June 30, 2023 condensed consolidated financial statements, and therefore the Company determined that adjustment of the full $365 million only through 2023 earnings was not appropriate. Therefore, the $365 million liability (the “Initial Liability”) was recorded as of June 30, 2023 with offsetting adjustments to merchant discount and interchange revenue and retained earnings, along with consequential impacts to deferred tax accruals. Comparable corrections were made for all prior periods presented in the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended June 30, 2023 and September 30, 2023 and subsequently in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. On February 19, 2024, Discover and Capital One Financial Corporation (“Capital One”) jointly announced that they entered into an agreement and plan of merger pursuant to which the companies will combine in an all-stock transaction (the “Merger”). In the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024, the Company disclosed that it had determined to increase its liability to $1.2 billion (the “Liability Increase”) through a charge to other expense for the three months ended March 31, 2024, to reflect the total amount the Company then expected was probable to be disbursed in relation to the card product misclassification. The Company determined the Liability Increase was appropriate based on its experience through that date with remediation efforts, discussions through the first quarter of 2024 with its regulators, Board of Directors and other stakeholders, the pending Merger, which was approved by the Company’s Board of Directors during the quarter, and a desire to advance resolution of the matter more quickly to mitigate further risk. As part of the review of the Company’s historical financial statements by the Staff of the SEC (the “Staff”) undertaken in connection with the Staff’s review of the Registration Statement on Form S-4 filed by Capital One in connection with the Merger (and the preliminary joint proxy statement/prospectus contained therein) (the “Registration Statement”), the Staff provided comments to the Company relating to the Company’s accounting approach for the card product misclassification. The Company has responded to these comments and has engaged in several verbal discussions with the Staff. The Staff has indicated that it disagrees with the Company’s application of revenue recognition guidance issued by the Financial Accounting Standards Board in connection with the Company’s recording of the Initial Liability. The Staff has, however, indicated that it would not object to an approach whereby the Company determined the cumulative revenue error related to the card product misclassification to be the maximum amount agreed to be paid by the Company in restitution in respect of the card product misclassification (excluding interest and legal expenses) (the “Alternative Approach”). This amount is approximately $1,047 million. On November 25, 2024, the Audit Committee of the Board of Directors of the Company (the “Audit Committee”), acting on the recommendation of management, and after discussion with Deloitte & Touche LLP (“Deloitte”), the Company’s independent registered public accounting firm, concluded that (i) the Company’s audited financial statements as of December 31, 2023 and 2022 and for each of the three years in the period ended December 31, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC for the fiscal year ended December 31, 2023 and (ii) the Company’s unaudited condensed consolidated financial statements included in the Company's Quarterly Reports on Form 10-Q previously filed with the SEC for the fiscal quarters ended March 31, 2023, June 30, 2023, September 30, 2023, March 31, 2024 and June 30, 2024 (collectively, the “Prior Periods”), should no longer be relied upon and should be restated to reflect the Alternative Approach. In addition, the Audit Committee concluded that management’s report on the effectiveness of internal control over financial reporting as of December 31, 2023 and Deloitte’s report on the consolidated financial statements as of December 31, 2023 and 2022 and for each of the three years in the period ended December 31, 2023 as well as Deloitte’s report on the effectiveness of internal control over financial reporting as of December 31, 2023, should no longer be relied upon. In order to implement the Alternative Approach in the Restated Financial Statements (as defined below), approximately $600 million of the Liability Increase will be reallocated from being recorded as other expense in the fiscal quarter ended March 31, 2024 to a revenue error correction in prior periods. In addition, $124 million of the Liability Increase representing interest that the Company committed to pay as part of its counterparty restitution plan will also be reallocated from the fiscal quarter ended March 31, 2024 to the third and fourth quarters of 2023. Cumulative historical earnings, capital and the aggregate amount of the counterparty restitution liability will not be affected by application of the Alternative Approach. However, separate work being done to validate the remediation methodology with a third-party consultant has resulted in the identification of approximately $60 million of incremental overcharges, which will be reflected in the Restated Financial Statements. As a result, the Company expects the Restated Financial Statements to reflect the following approximate impacts: as of December 31, 2023, (i) an increase in assets of $190 million, (ii) an increase in accrued expenses and other liabilities of $783 million, and (iii) a decrease in retained earnings of $593 million. For the years ended December 31, 2023 and 2022, pre-tax income would be reduced by approximately $190 million to $3,636 million and $77 million to $5,641 million, respectively. For the third quarter of 2024, pre-tax income would decrease by approximately $6 million to $1,282 million while pre-tax income for the nine months ended September 30, 2024 would increase by approximately $700 million to $4,462 million (as compared to the pre-tax income reported in the financial information with respect to the quarter ended September 30, 2024 in the exhibits furnished with the Company’s Current Report on Form 8-K filed with the SEC on October 16, 2024). Amendments to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Form 10-K/A”), and the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2024 and June 30, 2024 (the “Form 10-Q/As” and together with the Form 10-K/A, the “Restated Financial Statements”), are expected to be filed prior to or concurrently with the filing of the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 in order to reflect the Alternative Approach and the other modifications described above to the Prior Periods. The Company is working expeditiously to file the Restated Financial Statements as soon as reasonably practicable. The Company currently expects to complete the filings prior to year-end, however there can be no assurance of the actual timing. The Company expects that Capital One will file a pre-effective amendment to the Registration Statement promptly following the Company’s filing of the Restated Financial Statements, and that as soon as practicable following the effectiveness of the Registration Statement and the mailing of the definitive joint proxy statement/prospectus contained therein to each company’s stockholders, each company will hold its respective special meeting of stockholders for purposes of obtaining the requisite stockholder approvals of the Merger. About Discover Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The Company issues the Discover® card, America's cash rewards pioneer, and offers personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network® comprised of Discover Network, with millions of merchants and cash access locations; PULSE®, one of the nation's leading ATM/debit networks; and Diners Club International®, a global payments network with acceptance around the world. For more information, visit www.discover.com/company . Cautionary Note Regarding Forward Looking Statements: This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, which speak to our expected business and financial performance, among other matters, contain words such as "believe," "expect," "anticipate," "intend," "plan," "aim," "will," "may," "should," "could," "would," "likely," "forecast," and similar expressions. Other forward-looking statements may include, without limitation, statements with respect to the restatement of the Company’s financial statements. Such statements are based on the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements. These forward-looking statements speak only as of the date of this communication and there is no undertaking to update or revise them as more information becomes available. Actual future events could also differ materially due to numerous factors that involve substantial known and unknown risks and uncertainties including, among other things, risks relating to the final impact of the restatements on the Company’s financial statements; the impact of the restatements on the Company’s evaluation of the effectiveness of its internal control over financial reporting and disclosure controls and procedures; delays in the preparation of the consolidated financial statements and/or the declaration of effectiveness of the Registration Statement; the risk that additional information will come to light that alters the scope or magnitude of the restatement; the risks and uncertainties set forth under “Risk Factors” and elsewhere in the Company’s reports on Form 10-K and Form 10-Q; and the other risks and uncertainties discussed in any subsequent reports that the Company files with the SEC from time to time. Although the Company has attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Given these uncertainties, investors are cautioned not to place undue reliance on forward-looking statements. Important Information About the Merger and Where to Find It Capital One has filed the Registration Statement with the SEC to register the shares of Capital One’s common stock that will be issued to the Company’s stockholders in connection with the Merger. The Registration Statement includes a preliminary joint proxy statement of Capital One and the Company that also constitutes a preliminary prospectus of Capital One. The definitive joint proxy statement/prospectus will be sent to the stockholders of each of the Company and Capital One in connection with the Merger. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS WHEN THEY BECOME AVAILABLE (AND ANY OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY REFERENCE INTO THE JOINT PROXY STATEMENT/PROSPECTUS) BECAUSE SUCH DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION REGARDING THE MERGER AND RELATED MATTERS. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by the Company or Capital One through the website maintained by the SEC at http://www.sec.gov or by contacting the investor relations department of the Company or Capital One at: Discover Financial Services Capital One Financial Corporation 2500 Lake Cook Road 1680 Capital One Drive Riverwoods, IL 60015 McLean, VA 22102 Attention: Investor Relations Attention: Investor Relations investorrelations@discover.com investorrelations@capitalone.com (224) 405-4555 (703) 720-1000 Before making any voting or investment decision, investors and security holders of the Company and Capital One are urged to read carefully the entire Registration Statement and joint proxy statement/prospectus, including any amendments thereto, because they contain important information about the Merger. Free copies of these documents may be obtained as described above. Participants in Solicitation The Company, Capital One and certain of their directors and executive officers may be deemed participants in the solicitation of proxies from the stockholders of each of the Company and Capital One in connection with the Merger. Information regarding the directors and executive officers of the Company and Capital One and other persons who may be deemed participants in the solicitation of the stockholders of the Company or of Capital One in connection with the Merger will be included in the joint proxy statement/prospectus related to the Merger, which will be filed by Capital One with the SEC. Information about the directors and executive officers of the Company and their ownership of the Company common stock can also be found in the Company’s definitive proxy statement in connection with its 2024 annual meeting of stockholders, as filed with the SEC on March 15, 2024, as supplemented by the Company’s proxy statement supplement, as filed with the SEC on April 2, 2024, and other documents subsequently filed by the Company with the SEC. Information about the directors and executive officers of Capital One and their ownership of Capital One common stock can also be found in Capital One’s definitive proxy statement in connection with its 2024 annual meeting of stockholders, as filed with the SEC on March 20, 2024, and other documents subsequently filed by Capital One with the SEC. Additional information regarding the interests of such participants will be included in the joint proxy statement/prospectus and other relevant documents regarding the Merger filed with the SEC when they become available. View source version on businesswire.com : https://www.businesswire.com/news/home/20241125018559/en/ CONTACT: Investor Contact: Erin Stieber, 224-405-4555 investorrelations@discover.comMedia Contact: Matthew Towson, 224-405-5649 matthewtowson@discover.com KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE SOURCE: Discover Financial Services Copyright Business Wire 2024. PUB: 11/25/2024 06:06 PM/DISC: 11/25/2024 06:06 PM http://www.businesswire.com/news/home/20241125018559/enMichigan, Ohio State fight broken up with police pepper spray after Wolverines stun Buckeyes, 13-10
Green Bay fans will brace for a frigid Monday night as the Packers will face the New Orleans Saints in Week 16 of the NFL season. With forecasts predicting dropping temperatures and snowfall, Lambeau Field is set to provide a frigid atmosphere for the important game. The Packers will strive to clinch a playoff spot with a win. Weather circumstances are garnering interest, with snowflakes anticipated to fall consistently hours prior to the start of the game. Snowy Conditions Will Loom Over Green BayThe National Weather Service has released a Winter Weather Advisory effective until 7 p.m. ET on Monday. Green Bay is forecasted to receive 1-3 inches of snow over the course of the day. Snow flurries are expected to be observed around Lambeau Field five hours prior to the game. While significant snowfall is improbable during the event, some remnants of snow are expected to remain on the field. Temperatures are expected to fall to 28°F, with high humidity making the cold feel more severe. Cold Weather DetailsThe prediction indicates game-time temperatures ranging from 32°F to 28°F. Winds will be moderate at 6-8 mph, with a slight possibility of precipitation after 4 p.m. ET. Cloudy skies will prevail tonight, establishing typical cold-weather football settings. Impact on Players and Field ConditionsThe Green Bay Packers, used to competing in frigid weather, will have an edge against the Saints, who usually play indoors. The snow-laden sidelines and a possibly slippery field will increase the difficulty for each team. Although the Packers’ grounds crew has been working to remove the snow, patches will probably still be visible as kickoff nears. The delicate layer of white will enhance the legendary winter look of Lambeau Field. Hourly Breakdown of Game-Time Weather7 p.m. ET: 32°F, cloudy, 6 mph winds8 p.m. ET: 31°F, cloudy, 6 mph winds9 p.m. ET: 30°F, cloudy, 6 mph winds10 p.m. ET: 30°F, cloudy, 7 mph winds11 p.m. ET: 29°F, cloudy, 7 mph windsMidnight ET: 28°F, mostly cloudy, 8 mph winds Lambeau Field's Frozen LegacyThe game will strengthen Lambeau Field's status as one of the NFL's most famous sites for cold-weather games. As temperatures approach freezing and light snowfall is anticipated, the weather will provide a perfect setting for the Packers' playoff drive. Get Latest News Live on Times Now along with Breaking News and Top Headlines from US News, World and around the world.BEAMING Micheal Martin declared he has a “clear route back to government” as Fianna Fail aim to become the most popular party in the country. But as the count continued late into the night, Fianna Fail , Fine Gael and Sinn Fein are looking at a photo finish in the General Election . And a defiant Sinn Fein leader Mary Lou McDonald declared: “Two-party politics is now gone. It’s consigned to the dustbin of history .” Some vote counts are expected to drag on into Monday due to the tight results. The three big parties are each claiming they could hit 40 seats. The Social Democrats look to be the standout performers among the smaller parties, with sources telling The Irish Sun they believe they could double their six TDs. Labour are also confident of gains and are already being eyed up by Fianna Fail and Fine Gael as potential coalition partners to replace the Greens, who have been decimated in the polls. A delighted Mr Martin arrived at the count centre in Cork South Central, which he won easily, flanked by his family . He told reporters there was a “clear route back to government”. And Fianna Fail were tonight confirmed as taking 21.1 per cent of the first preference vote, with Fine Gael at 20.7 and Sinn Fein in third at 19.7 per cent. An earlier exit poll on Friday night had put Fianna Fail at just 19.5 per cent — with Sinn Fein marginally out in front. Mr Martin admitted: “When I saw the exit poll, I was disappointed, I said to myself ‘What the hell?’ “In the current situation, one or two per cent is massive and particularly in a multi-party situation with lots of independents and so on. “It looks like now we will exceed the exit poll, and we could be the largest party in the popular vote.” But asked if he would consider partnering with Sinn Fein, he said: “I have made it clear throughout this campaign that we don’t expect to align with their policies. “We will align with protecting the economic model we have in this country , a pro-European disposition and home ownership.” The results are a hammer blow to Sinn Fein’s hopes of forming a government. But Ms McDonald said she will reach out to the leaders of left-wing parties such as Labour and the Soc Dems to try and form a coalition. Speaking at the RDS count centre in Dublin , she said: “I think it’s fair to say that we have now confirmed that we have broken the political mould her in this state. “Two-party politics is now gone. It’s consigned to the dustbin of history and that in itself is very significant.” And asked if she believes the numbers are there for Sinn Fein to form a coalition of the left, Ms McDonald said: “I am looking to bring about a government of change and I am going to go and look at all formulations. “The bottom line is the idea of Fianna Fail and Fine Gael for another five years in our strong opinion is not a good outcome for Irish society. "Obviously I want to talk to other parties of the left and those we share significant policy objectives with. I’m going to do that first and hear their mind and thinking. Be very clear — we will be very actively pursuing entrance into government.” Taoiseach Simon Harris , elected on the first count in Wicklow tonight, was boisterous about the results and claimed Fine Gael would top the poll in at least ten constituencies across the country. But he would not be drawn on coalition options, saying he was “optimistic and excited” for the weeks ahead when government formation talks will commence. “It looks like now we will exceed the exit poll, and we could be the largest party in the popular vote.” Mr Harris said: “I think anybody who makes any projection on who is going to be the largest party or the construct of the next government they are a braver person than I am. "Our electoral system dictates that there will be many, many transfers that will go for hours, if not days, before we know the final composition of the Dail. “What I am very confident about is that my party will have a very significant role to play in the years ahead and I am cautiously optimistic and excited about what the weeks ahead hold.” The results so far mean that a return of Fianna Fail and Fine Gael in coalition with another small party or group of Independents is likely to be the make-up of Ireland’s next government. Ex-Green Party leader Eamon Ryan encouraged smaller parties to consider going into coalition, despite the Greens suffering a near wipeout of their 12 seats following their term in government. Mr Ryan said: “I would still advise any party if you have the opportunity to go in to government and represent your electorate and all the people — I think it is the right thing to do.” The Social Democrats look set to the be the biggest of the small parties. Leader Holly Cairns retained her seat , despite having to limit her canvassing due to being pregnant. “The bottom line is the idea of Fianna Fail and Fine Gael for another five years in our strong opinion is not a good outcome for Irish society." Ms Cairns gave birth to a baby girl on polling day, meaning she didn’t even get to vote. Deputy leader Cian O’Callaghan — — who will ease back into his seat in Dublin Bay North — has stepped into her role temporarily. He told us the party will speak to Labour about a possible left alliance before considering coalition talks with any of the three big parties. He said: “We certainly intend talking to the Labour Party and other parties over the coming days.” Labour leader Ivana Bacik — who will easily retain her seat in Dublin Bay South — wants to unite with the Soc Dems and the Greens to form a left block to enter coalition negotiations on a stronger footing. She said: “We must have a critical mass of numbers to deliver on the mission of change that we have. “We want a left block on a common platform to come together to deliver on the change we want.” Meanwhile, the political establishment has tonight played down gang boss Gerry Hutch’s chances of becoming a TD, with the Taoiseach arguing: “It’s not nailed on.” But as The Monk continued to hoover up transfers, Mary Lou McDonald became the first person elected in Dublin Central on the third count. The Monk was boosted by 218 votes in transfers from Mary Lou McDonald with the gang boss securing the highest portion of the Sinn Fein leader’s spare ballots. It now appears to be a fight between Hutch and Labour’s Marie Sherlock for the fourth and final seat in the constituency. And on a day of huge political shocks , some of the biggest names were in danger of being dumped out of the Dail — including Health Minister Stephen Donnelly and almost EVERY Green Party TD. But Dublin Central was the constituency to watch as the scale of support for Hutch became clear from the first tallies. The gangland kingpin landed a whopping 3,098 first preference votes — putting him fourth in the poll with Ms Sherlock chasing behind with 2,465 votes. Fine Gael’s Paschal Donohoe and Social Democrat Gary Gannon both look set to retain their seats after big turnouts. But incumbent Green Party TD Neasa Hourigan faces the chop, with former MEP Clare Daly also failing to make an impact in the constituency after deciding to run here at the last minute. Transfers will decide who wins the final seat between The Monk and Labour’s hopeful, with Hutch expected to receive transfers from right-wing Independent Malachy Steenson, while Sherlock will pick up votes from the Greens, People Before Profit and the Soc Dems. And with the final seat looking likely to go down to the wire, Taoiseach Simon Harris insisted the mobster’s audacious Dail run could still end in failure. He said: “In relation to Gerry ‘The Monk’ Hutch, I always buy into the very basic tenant of democracy that the people are sovereign. "Whoever the people choose to elect is entirely a matter for them. But I remain to be convinced that he will be a TD. “I think there is a long way to go and as I talk to people on the ground in Dublin Central, and as I read the mood music, I don’t think he’s nailed on at all.” And Ms McDonald — who topped the poll — said the last seat was going to be a “battle royal”. Speaking about the dramatic Dublin Central race , Ms McDonald said: “It’s a hat-trick for me in topping the poll in the constituency and I’m proud of that achievement. The last seat is in the balance. I think it’s going to be a battle royal .” “We must have a critical mass of numbers to deliver on the mission of change that we have." Pressed on whether she was surprised by Hutch’s 3,000 first preference votes, the Sinn Fein leader said: “Nothing in politics surprises me, I’m around far too long.” Fine Gael’s Paschal Donohoe said people will have to reflect on why The Monk performed as well as he has. Speaking at the RDS count centre, the outgoing Public Expenditure Minister said: “His performance was always possible in this election. I think it is worth noting that the vast majority of people in Dublin Central have not voted for him. “The vast majority of voters in Dublin Central have chosen to put their votes behind other candidates and we will have to reflect later why he performed like he did.” Soc Dem’s Gannon said Hutch’s solid vote shows how badly working class communities have been treated for years. He added: “When people are in a dark place they’ll search for very strange options and that’s what happened here. That’s a plague on all of our houses, it’s a reflection of politics as a whole.” And Clare Daly said “the political establishment should take note” of the mega Monk vote. She added: “I don’t see him being a national parliamentarian or a legislator per se, which is part of the job, but if elected he could, if the will was there, really keep a focus on an area that has been left behind and is crying out.” “I think there is a long way to go and as I talk to people on the ground in Dublin Central, and as I read the mood music, I don’t think he’s nailed on at all.” Legendary director Jim Sheridan said he was “shocked” at the strong backing that The Monk received after filming him on the campaign trail for a documentary . Speaking at the count centre in the RDS, the My Left Foot director said he was “totally surprised” at the level of support Hutch received from voters. He said: “I was thinking of just doing a small documentary about the election — that’s all. I never thought he’d get in or have a chance and I don’t know if he will still, but he has a chance.” Asked why he thought people backed The Monk at the polls, Sheridan said: “It is anger at their position. Years of drugs and nothing happening in that community. “Some people are trying to help but there has never been anyone since Independent Tony Gregory who provided a cohesive attitude towards the many problems.” The Monk’s shock election performance resulted in the Green’s Neasa Hourigan losing her seat with her party facing a total wipeout after a dismal display. The Greens had 12 TDs in the outgoing Dail, but have failed to avoid the tradition of smaller coalition parties being hammered in the polls after their stint in Government. Voters have turfed out the Greens with the party now facing an agonising wait to see if they can even return one TD to the next Dail. Leader Roderic O’Gorman, who is in a fight for the fifth seat in Dublin West, admitted it was a difficult day for his party. Speaking at the count centre in Ongar, he said: “We got a mandate in 2020 and that was a mandate to go into Government to act on climate and to support families and children all over the country. “We worked hard over four and a half years. We now have our lowest carbon emissions in the last 30 years. We’ve invested in public transport and we’ve halved the cost of childcare .” Ex-Green leader Eamon Ryan denied that the devastating result would spell the end for the party. He said: “No matter what the result today, there will be a strong Green Party in Ireland .” And Health Minister Stephen Donnelly looks to be one of the biggest names in politics that could lose his seat in the election with the Fianna Fail TD suffering a bitter defeat in Wicklow. The redraw of constituencies resulted in Wicklow becoming a four seater with Taoiseach Simon Harris topping the poll and looking likely to bring in a running mate in Edward Timmons. Asked about this blow to the party, leader Micheal Martin said: “He is still in the hunt and could potentially benefit from transfers from Simon Harris. We always felt that would be competitive.”
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