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

garland: He said the dip resulted from external factors, according to The Toronto Star. In this Nov. 11, 2016 file photo, a shopkeeper prepares a garland with Indian 10 Rupees denomination notes 0.15 U.S. used particularly to garland grooms on their wedding day, in Jammu, India. Indian Economic Affairs Secretary Subhash Chander Garg told reporters that there was nothing at this stage to worry about after the rupee reached 70.1 to the dollar earlier in the day. The Indian rupee has fallen to an all-time low against the U.S. dollar amid worries over Turkey's growing financial crisis. Channi Anand / The Associated Press The rupee ended the day at 69.93 per dollar, down 110 paise or 1.6 per cent. Indian Economic Affairs Secretary Subhash Chander Garg told reporters that there was nothing at this stage to worry about after the rupee reached 70.1 to the dollar earlier Tuesday, Aug. 14. ( As reported in the news.

spot: Poverty is not a crime, Sanders said, according to The Guardian. Hundreds of thousands of Americans, convicted of nothing, should not be in jail today because they cannot afford cash bail. ehrp That isn't the only bright spot. Or do we At the end of July, US senator Bernie Sanders proposed a bill abolishing cash bail, long a scourge of indigent people and the activists who defend them. On 7 August, Missouri voters voted 2-1 to demolish the state's right-to-work law a rare victory for unions over Republican politicians and business interests. A number of other solutions that once seemed pie in the sky universal basic income, Medicare for all, universal pre-kindergarten now seem more, well, attainable recently than they have in the past, and may even be closer than we think. While the supreme court's recent ruling against mandatory public union fees, as well as unions' falling membership numbers, have hurt American labor, this week's ballot measure showed at least one avenue to partial recovery. ( As reported in the news.

krebs: The threat has been reported by US journalist Brian Krebs who runs the cybersecurity blog Krebs on Security, according to Nine News Australia. According to the report, the attack is based around a strategy known as ATM cash-out' involving cloned cards and hacked bank or payment processors to fraudently withdraw funds. To improve your experience update it here News NationalFBI issues warning of ATM threat, says report By Richard Wood11 24am Aug 14, ATMs are being targeted by cyber criminals in a sophisticated attack that threatens millions of dollars in bank accounts, the FBI has warned. The attack could happen over just a few hours and was most likely on a weekend after banks have closed. The FBI has obtained unspecified reporting indicating cyber criminals are planning to conduct a global Automated Teller Machine ATM cash-out scheme in the coming days, likely associated with an unknown card issuer breach, the FBI warning said, according to Krebs on Security. Banks with large international operations are among those believed to have been alerted. ( As reported in the news.

mining sector: The S&P/TSX composite index closed up 79.92 points at 16,330.67 Tuesday, according to The Toronto Star. Frank Gunn / THE CANADIAN PRESS file photo In New York, the Dow Jones industrial average closed up 112.22 points at 25,299.92. The S&P/TSX composite index closed up 79.92 points at 16,330.67 despite sharp losses in the cannabis-heavy health-care index and in the mining sector. The S&P 500 index ended up 18.03 points at 2,839.96, while the Nasdaq composite was up 51.19 points at 7,870.90. The September crude contract closed down 16 cents at 67.04 U.S. per barrel and the September natural gas contract was down three cents at 2.96 U.S. per mmBTU. Article Continued Below The December gold contract ended up 1.80 U.S. at 1,200.70 U.S. an ounce and the September copper contract closed down five cents at 2.68 U.S. a pound. react-empty 138 Read more about Tsx TOP STORIES, DELIVERED TO YOUR INBOX.NEW NEWSLETTERHEADLINESSIGN UP The Canadian dollar averaged 76.41 cents U.S., up 0.28 of a U.S. cent. ( As reported in the news.

days: The currency rose 5% to about 6.5 to the dollar on Tuesday afternoon, after slumping 20% in the past four working days, according to The Guardian. The country's central bank stepped in on Monday by pledging to provide liquidity to its banking sector. There was some respite for the lira after days of heavy losses. Turkish crisis Indian rupee hits record low but lira recovers - business live Read more Berat Albayrak, Turkey's treasury and finance minister, and President Recep Tayyip Erdo an's son-in-law, provided further support with defiant comments on the national currency. He also attacked the US currency, saying it had lost all credibility despite the dollar trading at one-year highs against most major currencies. Albayrak told members of the ruling AK party We will protect the lira, we will march with the lira and the lira will strengthen greatly in the coming period. ( As reported in the news.

advisers: Ali Velshi talks with Council of Economic Advisers chair Kevin Hassett about whether Turkey's financial crisis could affect the Aug 13 2018 20 30 18 GMT 0000 , according to MSNBC. Ali Velshi talks with Council of Economic Advisers chair Kevin Hassett about whether Turkey's financial crisis could affect the on NATO ally Turkey More important than anything we're doing with Aug 13 2018 20 30 18 GMT 0000 Aug 13 2018 20 30 18 GMT 0000 Aug 13 2018 21 54 42 GMT 0000 on NATO ally Turkey More important than anything we're doing with value of Turkey's currency is falling as the U.S. and Turkey fight over the fate of an American pastor held for more than two years. ( As reported in the news.

evening: The man was pronounced dead on arrival at the Naivasha District Hospital, while another tourist survived the attack on Saturday evening, according to the Kenya Wildlife Service said on Sunday, according to Nine News Australia. We are tracking the hippo, the service said on Twitter on Sunday. To improve your experience update it here News World Hippo kills Taiwan tourist at Kenyan lake1 56pm Aug 13, 2018Facebook Tweet MailA hippopotamus has attacked and killed a tourist from Taiwan who was taking photographs on the shore of Lake Naivasha in Kenya. The agency identified the dead man as Chang Ming Chuang, 66, and the survivor as Wu Peng Te, 62, and said they were from China but Taiwan's foreign ministry said the two were from the self-ruled island. The Taiwan ministry said it had sent someone from its representative office in South Africa, as Taiwan has no representation in Kenya. Kenya has no formal ties with Taiwan, recognising only China and its claim to speak for and represent the island internationally. ( As reported in the news.

powerhouses: A report from London Economics commissioned by the Group of Eight universities examined the economic effect of the unis' research, graduates, international students and employment, according to Nine News Australia. It's the first time we have been able to clearly articulate what we have always known that universities are economic powerhouses and a valuable investment for taxpayers, Go8 chief executive Vicki Thomson said. To improve your experience update it power the economy study8 56am Aug 14, top universities contribute more than 66 billion to the national economy annually, a new study shows. The report shows that every employee within the Go8 universities creates 2.4 jobs in the wider community. The report also found that every three international students generate a 1 million flow in the economy. The Go8 universities enrol about 50,000 commencing international students a year, a number which upholds 73,030 positions, in both the universities and the broader community. ( As reported in the news.

investors: Rising interest rates in the United States and in Europe have made investors less tolerant of emerging markets, according to The Toronto Star. Foreign investors piled money into Turkish assets for years, lured by what appeared to be a stable economy and higher returns. The crisis, caused by soaring inflation, economic mismanagement by the Turkish government and tensions with the United States, has raised concerns over whether emerging economies that have benefited in recent years from foreign investment may also be vulnerable. But as interest rates rise in countries seen as safer, the relative attractiveness of riskier investments wanes. Turkey's central bank insisted over the weekend that it would take all necessary measures to preserve the country's financial stability. A crisis like the one in Turkey may be all it takes to send them fleeing. ( As reported in the news.

office: A man leaves a currency exchange office on Monday in Istanbul, according to The Toronto Star. The lira hit another record low overnight forcing Turkey's Central Bank to act to curb the lira's collapse, however the action was not enough to subdue investors fears over the countries financial crisis. The Turkish lira has nosedived over the past week and tumbled another 7 per cent on Monday as the central bank's measures failed to restore investor confidence. Chris McGrath / GETTY IMAGES The currency hit a record low of 7.23 per dollar late on Sunday after Erdogan, in a series of speeches over the week, showed no sign of backing down in the standoff against the United States, a NATO ally. And he threatened to seek new alliances and partners and warned of drastic measures if businesses withdraw foreign currency from banks. Erdogan ruled out the possibility of higher interest rates, which economists say are needed to stabilize the currency. ( As reported in the news.

sanctions trump: Washington reimposed the sanctions last week after pulling out of a 2015 international deal aimed at curbing Iran's nuclear program in return for an easing of economic sanctions, according to Nine News Australia. Trump has also threatened to penalise companies that continue to operate in Iran. To improve your experience update it here News World Iran's Khamenei rejects Trump talks offer10 29pm Aug 13, Supreme Leader Ayatollah Ali Khamenei has rejected US President Donald Trump's offer of unconditional talks to improve bilateral ties. I ban holding any talks with America... America never remains loyal to its promises in talks, said Khamenei, who has the final say on policy in the Islamic Republic. The sanctions target Iran's trade in gold and other precious metals, its purchases of US dollars and its car industry. America's withdrawal from the nuclear deal is a clear proof that America cannot be trusted, state TV quoted Khamenei as telling a gathering attended by thousands of Iranians. ( As reported in the news.

city: I want them to know that we will not surrender, according to CNN. We will keep producing and we will keep increasing exports, he said. In the speech to supporters in the Black Sea city of Trabzon, President Recep Tayyip Erdogan said that his country would not acquiesce to US pressure, and that the Trump administration's actions were threatening the two countries' longstanding alliance. We will not give in... if you come at us with your dollars then we will find other ways to do business... The US is sacrificing its 81-million-strong ally Turkey for a pastor with links with terrorists. US officials maintain there is no credible evidence against Brunson, and the Trump administration has negotiated for weeks to secure his release. Erdogan was referring to Andrew Brunson, a American evangelical pastor who Turkey accuses of helping to plot a 2016 coup attempt against the Turkish president. ( As reported in the news.

tesla: The last discussion appears to have taken place on 31 July when the fund's managing director expressed regret that I had not moved forward previously on a going private transaction with them, and he strongly expressed his support for funding a going private transaction for Tesla at this time wrote Musk, according to The Guardian. Elon Musk the volatile visionary at risk of steering Tesla off the road Read more The statement comes after Musk shocked investors by announcing via Twitter that he was considering ending Tesla's stock market listing and taking the company private. In a blogpost published on Monday Musk wrote that the Saudi investment fund which owns 5% of Tesla had approached him several times over the last two years with offers to help the struggling company go private. That tweet led to a brief suspension of trading in Tesla's shares and is now the subject of an investigation by the Securities and Exchange Commission, according to the Wall Street Journal, and legal action by investors. Musk said that that funding was secured but gave no further details. Last Tuesday Musk said he planned to take Tesla private at 420 a share, a 20% premium to the share price that day and valuing the company at about 72bn. ( As reported in the news.

gmt: Stephanie Ruhle and CNBC's Steve Liesman break it Aug 13 2018 17 38 52 GMT 0000 , according to MSNBC. Stephanie Ruhle and CNBC's Steve Liesman break it Turkey's crumbling currency be a long-term concern date Created Mon Aug 13 2018 17 38 52 GMT 0000 Aug 13 2018 17 38 52 GMT 0000 Aug 13 2018 17 52 27 GMT 0000 Turkey's crumbling currency be a long-term concern turmoil in Turkey might have global ripple effects as the nation's currency plunges after the U.S. imposed tariffs on Turkey's aluminum and steel on Friday. ( As reported in the news.

tobacco: Tobacco a deadly business about this series Read more Several councils said that their pension trustees could not dispose of their tobacco stocks because of a legal obligation to maximise retirement income, according to The Guardian. However, anti-smoking campaigners said this argument no longer has any credibility . Government guidelines say trustees can take ethical, social or environmental concerns into account, as long as the fund's finances do not suffer. Council retirement schemes in the UK are major investors in firms including British American Tobacco, Imperial Brands and Philip Morris, according to data compiled from more than 100 freedom of information requests. And several investment professionals contested the idea that selling tobacco stocks would crimp returns, pointing to the long-term risks threatening the industry. UK councils that have the highest direct investments in tobacco stocks Council pension fund trustees have no control over pooled funds, a common type of investment that makes up around 40% of the UK's 3.5tn in institutional assets. The schemes, which manage 211bn between them, have 1.7bn of direct tobacco investments, as well as a further 1.1bn via pooled investments, where money is grouped with other clients' cash as part of larger funds managed. ( As reported in the news.

trade war: He told party officials on Sunday in the Black Sea city of Trabzon We will respond to those, who declared trade war on the entire world and included Turkey in it, by steering toward new alliances, new markets, according to The Guardian. The currency fell 20% to record lows last week after Donald Trump, the US president, slapped tariffs on the country's steel exports and declared via Twitter Our relations with Turkey are not good at this time. Turkey financial crisis lira plunges again amid contagion fears Read more Recep Tayyip Erdo an, Turkey's president, remained defiant over the weekend, accusing foreign interests of waging an economic war against Turkey and pledging trade measures to reduce reliance on the dollar and US markets. It hit a new all-time low in Asian trading on Monday morning when it touched 7.24 to the US dollar before recovering slightly. But Turkey's woes spread far beyond a trade dispute. The euro was down 1% and Asian stock markets were also in the red. ( As reported in the news.

wells: Wells said he's leaving to focus on philanthropy, according to The Toronto Star. Netflix's spending has also raised concerns about the company's financial health. Wells, 47, will help choose a successor and stay on until his replacement takes over to make sure the transition goes smoothly, Netflix said Monday in a statement. Though profitable, Netflix still spends more money than it makes each year. Netflix's has budgeted more than 8 billion U.S. this year to buy shows from rival companies and finance productions of its own. AFP/GETTY IMAGES file photo Wells guided Netflix's finances as the company defied skeptics' expectations of how much money it could spend on programming without going broke, pumping billions of dollars into new TV shows and movies. ( As reported in the news.

impact: They have got it, in spades, according to The Guardian. The so-called impact assessments for no deal are, quite simply, horrifying. Worried that the government was not making enough preparations for the possibility of no deal being reached in the negotiations with the other 27 members of the EU, the voluble Brexiters within and without the cabinet called for evidence. They were underlined recently by the Bank of England governor, Mark Carney, who rightly drew attention to the messages coming through loud and clear from business, trade unions, the City and, not least, food suppliers, road hauliers, ports and airports. Having pointed out that the possibility of no deal was uncomfortably high he reminded the Brexiters that the pound had indeed crashed after the referendum, by some 17%. British holidaymakers are lucky now if they can receive 1.10 to the pound at the better places. Now, of course, when they have got what they asked for namely, attention to the possibility of a cliff-edge Brexit the Brexiters don't like it and yell project fear . The governor was good on this too. ( As reported in the news.

in-principle support: The Turnbull government's signature energy policy is now at the mercy of the coalition partyroom, after the states and territories offered their in-principle support, according to Nine News Australia. Several high-profile MPs, including Tony Abbott and Barnaby Joyce, have threatened to break ranks and scuttle the plan. To improve your experience update it here News National Energy minister confident of energy plan support7 23pm Aug 12, minister Josh Frydenberg is confident his coalition colleagues will endorse the National Energy Guarantee, despite some backbenchers threatening to vote against it. However, Mr Frydenberg believes there is strong support for the policy in coalition ranks. Minister for Resources Matt Canavan and Minister for Energy Josh Frydenberg at a press conference after COAG. AAP Mr Frydenberg chastised Labor states including Victoria for making crass, calculating last-minute demands to reshape the policy. My colleagues have been briefed by the miners, the manufacturers, the farmers and the industry groups who say this is the only game in town to reduce people's power bills, he told the ABC. They know how hard this is and they know Australia needs to break with the impasse that has dogged this policy in the past. ( As reported in the news.

president bush: Follow her sam vinograd, according to CNN. The views expressed in this commentary are her own. She served on President Obama's National Security Council from 2009-2013 and at the Treasury Department under President Bush. View more opinion articles on CNN. ( As reported in the news.

face: It initially looked as if someone had thrown paint into her face and on her hands, but it turned out that it was a nose bleed, according to The Guardian. Eventually Mazuronak, who was fifth in the Rio Olympics, was able to clean her face with a sponge at a water station and slowly shook off her rivals until only the French runner Clemence Calvin was left. Jakob Ingebrigtsen, 17, wins 5,000m gold less than a day after 1500m triumph Read more The 29-year-old from Belarus was looking comfortable in the lead group when her face was suddenly covered in blood just after 30 minutes into the race. As the two athletes ran towards the last few hundred metres at the finish, it looked as if Mazouronak had established a decisive advantage only to then turn the wrong way. The Czech athlete Eva Vrabcova Nyvltova took bronze. That allowed Calvin to catch up, but the Belarus athlete had enough left in the tank to power away and win in 2hr 26min 22sec six seconds clear of Calvin. ( As reported in the news.

cup: While the economy has gathered pace in recent months, helped by the warmer weather, the royal wedding and the World Cup, there has been little evidence so far of the spoils being shared through pay increases, according to The Guardian. The growth rate might have doubled to 0.4% in the second quarter from the first three months of the year, but the TUC general secretary, Frances O'Grady, has warned that this is far from enough to support workers. The Bank of England reckons higher wages are just around the corner, helped by the lowest rate of unemployment since the mid-1970s, yet economists are doubtful there will be much positive news just yet. We should not accept weak growth as the new normal it's the result of bad management of the economy. The consensus among City analysts is for annual growth in average weekly earnings in the three months to June to hold steady at 2.7%, the same level as recorded in May, when the Office for National Statistics publishes the latest figures on Tuesday. There has been too little investment and a failure to focus on getting wages rising, she said. ( As reported in the news.

country: Because this is the language they understand, according to The Guardian. A financial shockwave ripped through Turkey on Friday when its currency nosedived over concerns about the country's economic policies and a deepening row with the US. Turkey's economic crisis deepens as Trump doubles tariffs Read more Washington and Ankara have been at odds over a wide range of topics from diverging interests in Syria to Turkey's ambition to buy Russian defence systems, and the case of evangelical US pastor Andrew Brunson. If there are euros, take these out immediately give these to the banks and convert to Turkish lira and, by doing this, we fight this war of independence and the future. Brunson is currently on trial in Turkey for espionage and terror-related charges linked to a failed coup attempt in the country two years ago. He also said it was wrong of the US to try to bring Turkey into line with threats, a day after Trump doubled tariffs on steel and aluminium imports from Turkey. On Saturday, Erdo an said it was a pity the US was choosing Brunson over its strategic Nato ally. ( As reported in the news.

death: Dewayne Johnson's victory Friday could set a massive precedent for thousands of other cases claiming Monsanto's famous herbicide causes non-Hodgkin's lymphoma, according to CNN. Johnson's case was the first to go to trial because doctors said he was near death. So they awarded him 289 million in damages -- mostly to punish the agricultural company Monsanto. And in California, dying plaintiffs can be granted expedited trials. Read More Since then, hundreds more plaintiffs -- including cancer patients, their spouses or their estates -- have also sued Monsanto, making similar claims. Dewayne Johnson reacts after hearing the verdict in a California superior court. context Image Object name Dewayne Johnson reacts after hearing the verdict in a California superior court. description Dewayne Johnson reacts after hearing the verdict in a California superior court. url CNN reported last year that more than 800 patients were suing Monsanto, claiming Roundup gave them cancer. ( As reported in the news.

peng: Jenny Peng / Star Metro Vancouver Task Force Tourniquet led to seizures of firearms, stolen vehicles, ammunition, drugs, cash, and a pressure cooker explosive device, according to The Toronto Star. Jenny Peng / Star Metro Vancouver The project led to 201 charges for 34 people with more charges expected in the future as the investigation progresses. Vancouver Police Department announced Friday the seizure of at least 120 firearms, 50 kilograms of drugs and more than 1.6 million worth of cash and jewelry by Task Force Tourniquet involving several municipal police departments including Surrey, Richmond, and Langley RCMP. Investigations led by Task Force Tourniquet resulted in seizures of firearms, stolen vehicles, ammunition, drugs, cash, and a pressure cooker explosive device. All the individuals are in custody following an Aug.7 arrest, VPD said. Article Continued Below Read more Surrey gangs setting sights on elementary school recruits, Mounties say How Mexico's drug war washed up on Canada's West Coast No loyalty in drug alliance linked to opportunistic gang boss slaying police One of the most recognizable is the Red Scorpions Gang closely aligned with the Kang and Latimer group allegedly made up of members in the Kang family including Sameet Kang, Gary Kang, their parents and close associates. react-empty 157 The Kang/Latimer Group has been in conflict with multiple groups over the past 18 months and their allegiances remain fluid and ever-changing, VPD said in a statement. Since March 2017, the task force completed several projects targeting different crime groups. ( As reported in the news.

president: The U.S. imports about 1 billion in steel and aluminum from Turkey, so the direct impact is not likely to be substantial, according to The Toronto Star. U.S. President Donald Trump, left, speaks with Turkey's President Recep Tayyip Erdogan ahead of the opening ceremony of the NATO summit its headquarters in Brussels in July. In a tweet, Trump said he had just authorized a doubling of tariffs against Turkey, upping those on aluminum to 20 per cent and steel to 50 per cent. Trump's order deepens a growing political and economic rift between the two allies. Without mentioning Trump by name, Turkey's president, Recep Tayyip Erdogan, denounced the U.S. in a speech Friday in the Black Sea town of Rize. Ludovic Marin / The Associated Press But the ripple effects were considerable as the Turkish currency, the lira, plummeted on the news, pushing the country closer to a full-blown economic crisis, and dragging the euro down sharply Friday. ( As reported in the news.

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financializer news

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