financializer news A weblog highlighting financial topics making news in the international media.

iron maiden: Guns N' Roses sue brewery over Guns 'N' Ros beer Read more Hipgnosis Song Fund, founded by Merck Mercuriadis, the former manager of acts including Elton John, GunsN' Roses, Iron Maiden and Beyonc will make money from the income generated by Stewart's copyright interest in the Eurythmics catalogue, according to The Guardian. The deal does not include Lennox's interest in the catalogue. Stewart and his fellow Eurythmics founder Annie Lennox have produced global hits including Sweet Dreams Are Made of This Would I Lie to You and There Must be an Angel Playing with My Heart and have sold more than 100m albums worldwide. The work Dave and Annie did together as Eurythmics defines the 1980s and 1990s but still remains timeless today, said Mercuriadis. Stewart co-wrote and produced every Eurythmics album, including eight top five and three No 1 albums in the UK. His overall catalogue comprises 1,068 songs and includes income from his share of writer, artist and producer copyright interest in songs. I'm not generally one for puns but sweet dreams are literally made of this. (news.financializer.com). As reported in the news.

opening price: Early trading data from Wall Street showed its shares were quickly changing hands at below the opening price in early trading, dipping about 7% to about 42 against the backdrop of a stock market suffering its fifth consecutive daily decline amid trade war fears, according to The Guardian. By the end of its first day of trading, Uber shares had dropped to 41.57, down 7.6% on its opening price, with a market cap of 69.7bn. Uber put a price of 45 on its shares valuing the company at 80bn 61.4bn well below the 100bn it had once hoped to achieve amid jitters among investors at the lacklustre performance of shares in rival Lyft since its recent float. The stock continued to drop in after-hours trading. The company's chief executive, Dara Khosrowshahi, was on stage for the traditional ceremony of ringing Wall Street's famed opening bell. Despite its limp start to life as a public company, the 8.1bn that Uber raised means its stock market debut was still one of the largest in US history and the most closely-watched in the tech world since Facebook hit the market in 2012. (news.financializer.com). As reported in the news.

organization umno: Najib is facing charges but denies any wrongdoing, according to The Japan Times. Meanwhile, deep divisions within the ruling coalition have curbed efforts to boost government revenue, attract investment or create jobs. But polls show that such optimism has been steadily eroded since the election upset, in which the United Malays National Organization UMNO was removed from power for the first time in 60 years and replaced by Mahathir and the patchwork Pakatan Harapan coalition. ; Mahathir, who inherited a debt-laden economy, has focused much of his administration's attention on cleaning up public finances following a multibillion-dollar corruption scandal involving state fund 1MDB and former Prime Minister Najib Razak. Support for the government fell to just 39 percent in March, sharply down from the 66 percent rating in August 2018, according to a survey by independent pollster Merdeka Center. Worryingly for Mahathir, Merdeka Center said Malay Muslims, who make up around 60 percent of Malaysia's 32 million people, were largely more critical of his administration. Mahathir also saw his popularity plunge to 46 percent from 71 percent over the same period, although he says he doesn't put much faith in these numbers. (news.financializer.com). As reported in the news.

retirement system: Rob Maxwell, a spokesman for the retirement system, said the system's Investment Management Division, now at 816 Congress Ave., will occupy the new space, according to The Independent. That division had about 174 employees. The high-rise is under construction on West Sixth Street, between Colorado and Lavaca streets. Across TRS, the full-time headcount is 694 people. On a cost per person basis, the new space will be comparable to the current space investments staff occupy. In the next few years, TRS will outgrow its current space which it has occupied since 2009, Maxwell said in an email to the American-Statesman. (news.financializer.com). As reported in the news.

retirement: Jonathan Burton INVESTING NEWS & TRENDS What to tell a new graduate about investing in stocks Success with money and investments requires humility, self-awareness, and a few good friends, writes Vitaliy Katsenelson, according to Market Watch. What to tell a new graduate about investing in stocks This one investment move can give you lifetime yearly income in retirement A simple annuity is a good way to keep from running out of money, writes Michael Edesess. Plus, read about the guaranteed income of a simple annuity, why investors should welcome higher interest rates, and how to reduce exchange-traded funds' fees and taxes. This one investment move can give you lifetime yearly income in retirement Investors needing retirement income should hope for higher interest rates Retirees and other income seekers get little help from low interest rates, writes Mark Hulbert. How Warren Buffett's longtime business partner enlightened the Oracle of Omaha Apple, Microsoft, Amazon propel world's biggest sovereign-wealth fund to record quarter Powerful returns for the U.S.'s biggest tech stocks Apple Inc., Microsoft Inc., and Amazon Inc. played a huge role in driving the world's biggest wealth fund to its best-ever quarterly return. Investors needing retirement income should hope for higher interest rates A frothy stock market That's just fake news What long-term sentiment indicators are telling us about the stock market.A frothy stock market That's just fake news How Warren Buffett's longtime business partner enlightened the Oracle of Omaha Get to know Charlie Munger if you want to understand Berkshire Hathaway, writes Vitaliy Katsenelson. (news.financializer.com). As reported in the news.

states china: Andrew Harnik Facebook Twitter SMS Email Print Save Trade talks between China and the U.S. continue Friday in Washington despite new tariffs the U.S. imposed on 200 billion in Chinese imports and Beijing's vow to retaliate, according to The Independent. Facebook Twitter SMS Email Print Save The Trump administration raised duties on 200 billion of Chinese imports to 25% from 10% early Friday. Evan Vucci Facebook Twitter SMS Email Print Save Chinese Vice Premier Liu He, center, waves to members of the media as he arrives at the Office of the United States Trade Representative in Washington, Friday, May 10, 2019 for trade talks between the United States and China. China's Commerce Ministry said it would impose necessary countermeasures but gave no details. Facebook Twitter SMS Email Print Save if 0 document.write ' ' ; (news.financializer.com). As reported in the news.

york times: Team Trump, it was suggested, was interested in finding dirt on two things the chain of events leading to special counsel Robert Mueller's collusion inquiry, and the alleged role of presidential rival Joe Biden in supposedly stopping an investigation into a gas company where his son worked, according to The Independent. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 We'll tell you what's true. Mr Guiliani's trip, first reported in The New York Times on Thursday, has been described as an attempt to pressure Ukraine into investigations to help Mr Trump's re-election campaign. You can form your own view. Subscribe now The former New York mayor said he hoped to meet with a number of leading Ukrainian politicians including Mr Zelensky, elected in a landslide election last month, and Ukraine's controversial top prosecutor, Yuriy Lutsenko. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

stock levels: In April, international supplier Glaxo Smith Kline added their Measles Mumps Rubella vaccine Priorix and their Measles Mumps Rubella and Varicella vaccine Priorix Tetra to the TGA's critical shortage list with current stock levels across the globe anticipated to last until October, according to Nine News Australia. This only impacts our supply to the private market, A GSK spokesperson told 9news.au. To improve your experience update it here News Health Global measles vaccine shortage causes concern locally By Tom Livingstone Associate Producer3 19pm May 10, are concerns of a measles vaccination shortage after one of two major suppliers logged their supply levels as critical with Australia's Therapeutic Goods Administration. Despite a major supplier of the Measles, Mumps and Rubella vaccine logging levels as critical, they say child immunisations will take priority. This shortage will impact our ability to supply Priorix Tetra to the National Immunisation Program NIP but we have worked with the Commonwealth Department of Health to ensure that an alternative MMRV vaccine will be available during this time, the GSK spokesperson said. EPA They confirmed that they were not the only supplier of MMR vaccines and that they have sourced an alternative to control the rising issue. (news.financializer.com). As reported in the news.

move: After months of talks aimed at ending a year-long dispute that has already hurt global growth and rattled stock markets around the world, the latest US salvo risks triggering a new wave of tit-for-tat responses, according to CNN. Beijing on Friday expressed deep regret at the latest US move, and reiterated that it would have to take necessary countermeasures. The Trump administration made good on its threat to raise tariffs on 200 billion worth of Chinese exports from 10% to 25% earlier on Friday, marking a sharp escalation in tension between the world's two largest economies. It did not specify what they would be or when they would be imposed. Read More China's response The coming days could be crucial. What happens next could have enormous implications for businesses, consumers and investors. (news.financializer.com). As reported in the news.

stocks: Negotiations are set to resume Friday morning Asian markets were whipsawed in heavy trading as trade news emerged, with stocks swinging from gains to losses, according to Xinhua China. As the Shanghai Composite slumped 3% from the morning-session high, state funds intervened to prop up stocks, people familiar with the matter said. China said it will take necessary countermeasures,'' though has yet to specify them Day one of talks between top Chinese and U.S. economic officials in Washington ended with little progress and a downbeat mood, according to people familiar with the talks. The index closed up 3.1% and the yuan rose Investors are also on the lookout for any sign of a call between Presidents Donald Trump and Xi Jinping, after Trump said he'd received a letter from Xi and flagged the potential for a phone conversation between them Next steps to watch include the details on China's retaliation, news on any broader stimulus efforts to safeguard growth and on any move by Trump to impose new 25% tariffs on 325 billion more of imports, a threat that he reiterated Thursday Chris Anstey Managing Editor, Asia Cross-Asset Markets05/10 03 55 ETThank you for following our coverage of the ongoing China-U.S. trade spat. We'll leave you with a Quick Take explainer of just how we got here How the U.S.-China Trade War Got to This Point Quick Take Bloomberg Terminal users can continue to track developments by searching for NEWS ON CHINA AND TRADE BY BLOOMBERG . Web users should keep checking for all the latest. We're going to end this TOPLive coverage here. (news.financializer.com). As reported in the news.

trade pressure: Almost immediately Beijing said it would retaliate, sparking fears over the impact a trade war could have on the global economy, according to The Guardian. The state-run Global Times said countermeasures were expected soon from Beijing's commerce industry. The US has dramatically increased trade pressure on China by raising tariffs on thousands of goods from 10% to 25%. With Chinese negotiators in Washington for trade talks that will resume this morning, the White House followed through on its midnight deadline to increase tariffs. All eyes will be on stock markets today to see how they react to the changes. In Tokyo the Nikkei was down around 0.8% while the Australian ASX200 was flat. In the immediate aftermath of the tariffs coming into force at 0500GMT, China's main index, the Shanghai Composite, was up 1.5% and the Hang Seng was up too. (news.financializer.com). As reported in the news.

unemployment rate: The job gains were spread across many industries, with employment rising by 32,400 in the category of wholesale and retail trade positions and the construction sector adding 29,200 jobs, according to The Toronto Star. Aaron Lynett / THE CANADIAN PRESS file photo The rush of new jobs far surpassed market forecasts and helped drop the unemployment rate to 5.7 per cent, down from 5.8 per cent in March. The country added 106,500 net jobs in April, the bulk of which were full time, Statistics Canada said in its latest labour force survey. The labour market has seen strong numbers since mid-2016 and has remained a bright spot for an economy that has struggled in other areas. Wow. Economic growth, for instance, almost stalled over the winter. (news.financializer.com). As reported in the news.

advisor: No purchase price was disclosed but investment banking sources estimated that the price Reverence paid valued Advisor Group at between 2.1 billion and 2.3 billion, according to The Independent. That translates into a significant premium for an IBD network with 1.7 billion in revenues and more than 7,000 reps. Lightyear Capital, which had acquired a controlling interest in Advisor Group from AIG for about 400 million in 2016 with PSP Investments and other shareholders, will retain a minority of about 25 percent. The transaction leaves Advisor Group and its four independent broker-dealers as a standalone entity. Jamie Price will continue to serve as CEO of Advisor Group. Back in January, it was reported that Lighyear had talked with Genstar, which paid 1.74 billion for Cetera Financial Group in September 2018, about merging the two IBD networks. (news.financializer.com). As reported in the news.

border region: Violence flares often, as it did early in 2019 when a terrorist attack led to the most serious military escalation in more than a decade, according to The Independent. The repeated skirmishing plays out against a backdrop of superpower jockeying by China and the U.S.1. Long-running tension between India and Pakistan centers on the border region of Kashmir, an area in the Himalayas claimed in full -- and ruled in part -- by both. Why do India and Pakistan distrust each other The independent nations of India and Pakistan were created by the partition of British India in 1947, which was largely driven by religion Pakistan became primarily Muslim while India remained mostly Hindu. The two countries have fought three major wars since then, two of them over Kashmir. The drawing of new borders uprooted 14 million people and resulted in sectarian violence that killed as many as 1 million people. (news.financializer.com). As reported in the news.

chinese partner: The target for additional units is equivalent to two-thirds of last year's output. ; GAC Toyota Motor, owned equally by Toyota and the Chinese partner, will invest 1.6 billion to expand production capacity in two phases scheduled to complete in 2022, Guangzhou Automobile said in a statement, according to The Japan Times. Toyota says the output of Toyota brand cars, including hybrid Camry sedans, at the Guangzhou manufacturing unit totaled 599,000 units last year. Toyota plans to add 400,000 units to its annual production capacity for eco-friendly cars at GAC Toyota Motor Co. in Guangzhou, southern China, its Chinese partner Guangzhou Automobile Group Co. said. Toyota and its Chinese partner will also step up engine production at GAC Toyota Engine Co. in the capital of Guangdong province. Toyota has not made public the engine production capacity of GAC Toyota Engine, which is 70 percent owned by Toyota and the remainder by the Chinese automaker. They are earmarking 605 million to add 432,000 engines to annual output capacity by 2021 as part of efforts under Toyota New Global Architecture, a program to enhance production quality and reduce costs with the introduction of a new vehicle platform, the statement said. (news.financializer.com). As reported in the news.

uber: The startup was hobbled by boardroom battles and a virtually empty C-Suite, according to CNN. And its chief US rival, Lyft, was raising more money and expanding its footprint across North America. Travis Kalanick, the hard-charging cofounder and CEO who built Uber into a global force, stepped down after months of crises. (news.financializer.com). As reported in the news.

housing business: U.S. President Donald Trump's administration raised duties on 200 billion of Chinese goods from 10 percent to 25 percent on Friday, according to The Japan Times. The company forecast its group operating profit would also decrease 27.1 percent to 300 billion, even as it expects to book a gain of around 90 billion related to a planned merger of its housing business with that of Toyota Motor Corp. Group sales are projected to slip 1.3 percent to 7.90 trillion, as demand for electronic parts and industrial components is expected to remain slow in China amid the country's heightening trade friction with the United States. ; It is uncertain how big an impact additional U.S. tariffs on imports from China will have on its customers, Panasonic Chief Financial Officer Hirokazu Umeda said at a news conference. The figures projected for fiscal 2019 suggest Panasonic will report a decline in sales and net profit for the first time in three years. But costs to boost output at its battery plants in the city of Himeji, Hyogo Prefecture, and Dalian in China will leave its automotive business, which generates a fifth of its total sales, unprofitable. The company expects sales of auto batteries to remain solid in the current fiscal year. (news.financializer.com). As reported in the news.

countries: German Economy Minister Peter Altmaier reportedly mentioned during the forum that major EU countries have agreed to together make necessary arrangements rather than signing any bilateral memorandums, according to Global Times China. But the EU countries have taken different tones when it comes to building relationships with China. In late April, as the special representative to the second Belt and Road Forum, Vice President of the European Commission Maros Sefcovic said the EU is ready to forge meaningful synergies in dealing with China. Italy and Switzerland have signed up for the Belt and Road Initiative BRI serving as a wake-up call for European countries to rethink their approach to cooperating with China. However, countries within the EU are taking different stands. As a whole, the EU would like broader investment in China and is attracted to Chinese investment. (news.financializer.com). As reported in the news.

doesn t: Now, more than 20 years later, I can offer some experience-based advice about investing and how to go about it realistically, according to Market Watch. Here's what I would tell my younger self and his generation 1. I felt completely lost, with no idea what to do next. Find yourself. Your investment strategy has to fit your personality; it has to wrap around your biases and life experiences. Investing is like a piece of tight clothing Just because it fits and looks good on someone else doesn't mean it's a good fit for you. (news.financializer.com). As reported in the news.

market yardstick: It was the key market yardstick's first finish below 21,500 since March 29. ; The Topix index of all first-section issues closed down 21.62 points, or 1.38 percent, at 1,550.71, according to The Japan Times. It plunged 27.51 points the previous day. The 225-issue Nikkei average fell another 200.46 points, or 0.93 percent, to end at 21,402.13, after sliding 321.13 points on Wednesday. The market took a dive right after the opening bell, as investors rushed to sell in the wake of the Office of the U.S. Trade Representative's posting of a notice to the Federal Register that the United States will raise tariffs on Chinese products worth 200 billion from 10 percent to 25 percent on Friday. Stocks accelerated their downswings later in the morning, with investor sentiment further dampened by U.S. President Donald Trump's reported comment that China broke the deal. In a quick response, Beijing said it was ready to retaliate. (news.financializer.com). As reported in the news.

moroccan riad: And documented it all on Instagram along the way, according to Deutsche Welle. Some say that the scam artist could not have been as successful had she not had a carefully curated Instagram account that gave the appearance of wealth But social media access will likely be more difficult for Delvey, who has been in custody since her October 2017 arrest, after a judge on Thursday sentenced her to 4 to 12 years in prison following convictions on multiple counts of grand larceny and theft of services. She once chartered a jet to Omaha for the Berkshire Hathaway annual investment conference to see Warren Buffett, spent a week in a private Moroccan riad on a whim and had dinner at gourmet restaurants with celebrities. New York Judge Diane Kiesel said she was stunned by the depth of the defendant's deception and turned down a request to count time already served towards her sentence. Her dream was to open this visual arts center at the historic Church Missions House at the corner of Park Avenue and East 22nd Street. How it started In New York, Delvey had told acquaintances she was an heiress from a small town outside of Cologne, Germany and she was waiting on her trust fund before she could move on with her grand plans to open an art space in the city. (news.financializer.com). As reported in the news.

nail: If you need a sheep shorn, or if you need a nail hammered, I'm your man, the prime minister declared as he hit a nail into a home under construction on the NSW mid-north coast on Thursday, according to Nine News Australia. The leader was at a construction site in Port Macquarie to highlight the risks he says Labor's proposed reforms to negative gearing pose to the pace of home-building and house prices. To improve your experience update it here News NationalPM wields Labor taxes to win coastal votes By AAP2 34pm May 9, Morrison is hoping his margin of success at the election will be as plump as the diverse skillset he's honed on the campaign trail. If that all slows down, obviously it's going to make things a lot tougher, he told a group of builders. Cowper was previously held for 17 years by retiring MP Luke Hartsuyker, but independent candidate and former MP Rob Oakeshott is considered a good chance of taking it from the coalition. He was flanked by the local Nationals candidate for Cowper, Patrick Conaghan. (news.financializer.com). As reported in the news.

day ultimatum: Earlier on Thursday, the EU rejected Iran's 60-day ultimatum to protect its oil and banking sectors from American sanctions, according to MSNBC. Tehran said a day earlier it would partially withdraw from aspects of the landmark accord - known formally as the Joint Comprehensive Plan of Action JCPOA - if EU nations failed to do so. Foreign Minister Javad Zarif said the United States had bullied European Union nations and he chided them for not living up to their obligations under the landmark 2015 agreement, which curbed Tehran's nuclear development in return for relief from hard-hitting sanctions. EU statement today is why JCPOA is where it is the US has bullied Europe - and rest of world - for a year and EU can only express regret . Instead of demanding that Iran unilaterally abide by a multilateral accord, EU should uphold obligations - including normalisation of economic ties, Zarif wrote on Twitter. We strongly condemn this step, the foreign ministry said in a statement.// Iran's nuclear programme, explained 5 33 Because of the seriousness of what is happening Iran and world powers should meet to determine ways to normalise the situation it said. Iran's ally Russia on Thursday denounced new US sanctions on Iran's mining industry and called for talks to preserve the nuclear deal with Tehran. (news.financializer.com). As reported in the news.

donald trump: They are also wrestling with the likelihood of a major cut to tuition fees, with little hope in the sector that the government will plug the gap, according to The Guardian. Last month in the US, Donald Trump proposed significant cuts to higher education funding in his 2020 budget, including reductions to student financial aid, and big cuts to the budgets of the two biggest public funders of research, the National Science Foundation and the National Institutes of Health. They are fighting to limit the damage of Brexit, which they fear will hit their recruitment and retention of great staff and students,crush vital research collaboration,and removebillions of pounds of funding. This followsmajor cuts in the aftermath of the economic crash of 2008-9, after which many universitiesramped up their fees considerably. The University of California is a network of research institutions in America's largest state. In the final instalment of our 2VCs discussion series, Anna Fazackerley spoke to Janet Napolitano, President of the University of California, and Prof Hugh Brady, vice-chancellor of the University of Bristol, about enduring cuts and what the current political climate means for universities. (news.financializer.com). As reported in the news.

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interest rates: As home owners await an anticipated interest rate cut to ease their mortgage pressures, older Australians who have their money in the banks are getting shafted, according to Nine News Australia. In the past two months, all the major banks have cut interest rates on their one, three and five-year term deposits. To improve your experience update it here News National Savers losing out as millions of dollars in term deposits earn almost no interest By Ross Greenwood Finance Editor7 40pm May 9, have almost 630 billion dollars sitting in term deposits right now earning as little as 1.0 per cent interest. The best savings account is with BOQ. 9news The latest figures from the Reserve Bank of Australia show a total of 627.8 billion in term deposit accounts with many older Australians relying on the interest to top up their pensions. ASIC fears that the diabolically low interest rates on savings accounts could drive older Australians to pursue risky investments that promise higher returns. There are also 38.13 million accounts in the country accessible by debit cards, usually earning less than 1 per cent interest. (news.financializer.com). As reported in the news.