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

housing market: Its "bear case" scenario has the ASX200 tumbling to 4,200 points, a 14 per cent fall from current levels on top of the 12 per cent slide the market has endured since its April peak. "The bear case is one centred on recession risk, while the bull case is one of significant fiscal policy reversal — which at present seems an elusive ideal rather than a tangible option," Morgan Stanley told its clients. "Our Base case for the next 12 months for Australia is one of increasing stagnation in both economic activity and corporate earnings profiles." The Morgan Stanley thesis is that the unwinding resources boom will continue to have a negative impact on industrial sectors while the housing cycle may have already peaked, according to Australian Broadcasting Corporation. Morgan Stanley Chris Nichol said: "Australia growth dynamic looks familiar on the surface, but with housing now being reined in, we disagree with the consensus that 'next year will be better'." "Policymakers are now putting the brakes on the housing market through macro-prudential policy measures, and we expect they will prove successful in slowing price growth and construction activity, with some impact on related-consumption into 2016. "Our Bear case scenario is one that is filled with stagnation and recession — a scenario that has an economy stalling under the weight of a resource unwind that relies too much on housing as the only game in town." Morgan Stanley five lessons from reporting season Caution to remain in outlooks: Morgan Stanley said there was little incentive for companies to provide upbeat outlooks. After a disappointing reporting season, Morgan Stanley strategy team has cut its 12-month forecast for the key ASX200 index from 5,650 to 5,150 — a downward revision of 9 per cent — roughly in line with current levels. Anxieties in Europe over Greece, coupled with a volatile situation with a cooling China and a stagnating domestic economy have conspired to deliver an overwhelming message of caution. Watching offshore earners: The Australian dollar remained remarkably resolute through the recent bout of China inspired global volatility, only showing a degree of weakness last week. The banks need to raise more capital while earnings are under pressure: "With ANZ and CBA raising equity over the season, the need and outlook for capital was well crystallised for investors," Morgan Stanley bank analysts noted."The ANZ update confirmed that credit quality should be assessed keenly; this, combined with a regulated slowdown in lending growth means the upgrade cycle is well and truly over". Resources: Morgan Stanley Chris Nichol said resource companies now look cheap, but without some stability — or indeed positive momentum — in the commodities they sell, the much-looked-for rotation into this sector remains elusive. (news.financializer.com). As reported in the news.

Richard Umbers: The company announced a $221 million entitlement offer to retail and institutional investors at 94 cents per share to fund the new strategy and reduce debt, according to Nine News Australia. In statements released today, CEO Richard Umbers said the company wanted to bring the love of shopping to life and build on the company proud heritage. Myer has announced a new strategy to attract customers, simply called "New Myer", after suffering a decline in full-year after-tax profit of $68.7 million. We are investing in New Myer over the next five years to deliver a fresh interpretation of our brand, a re-energised and relevant range, improved service and in-store experiences complemented by a strong Omni-channel offer, the statement read. Myer net profit after tax was $29.8 million for the year to July 25, a 69.7 percent decrease on the previous year.© ninemsn 2015finance National Email your news tips Do you have any news photos or videos Property news: Will buyers worship heaven sent property - realestate.com.au Career news: Why career success could be right beside you - news: New York 'Sky Garage' takes parking to the next level - realestate.com.au Career news: Do you really truly want to be a leader - seek.com.au He said the new strategy comes off the back of the introduction of new brands TOPSHOP, TOPMAN, Seed, French Connection and Nine West and improvements in store layout and the online store. (news.financializer.com). As reported in the news.

Federal Reserve: ET, the Dow was down 428 points at 16,099, according to MSNBC. The New York Stock Exchange invoked a rarely used rule designed to smooth out volatility in the markets. At 2:10 p.m. Data out overnight in China showed manufacturing there shrinking at the fastest pace in three years. American investors are also nervous about the prospect that the Federal Reserve will raise interest rates soon. China is an engine of the world economy and a major market for American goods. (news.financializer.com). As reported in the news.

Australian National University: Australian National University Timo Henckel said earlier today wild swings on global stock markets have made investors edgy, the economic news coming out of China is not favourable and figures last week showing domestic private investment has plummeted."On the other hand, US growth surged to 3.7 percent annually and fears of a debt crisis in the eurozone have abated," Dr Henckel said, according to Nine News Australia. A statement from the board released with today announcement acknowledged Australia terms of trade were falling."In Australia, most of the available information suggests that moderate expansion in the economy continues," the statement read."While growth has been somewhat below longer-term averages for some time, it has been accompanied with somewhat stronger growth of employment and a steady rate of unemployment over the past year."Full statement from the RBA on Tuesday 1 September:At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 percent. The RBA met this afternoon at their monthly board meeting and voted to keep the cash rate at the record low of two percent. The global economy is expanding at a moderate pace, with some further softening in conditions in China and east Asia of late, but stronger US growth. Australia terms of trade are falling. Key commodity prices are much lower than a year ago, in part reflecting increased supply, including from Australia. (news.financializer.com). As reported in the news.

: At close, the Dow Jones industrial average had dropped 469 points, or 2.8%, to 16,058 and the Standard & Poor 500 index fell 58 points, or 3%, to 1,913, according to The Guardian. News that US manufacturing activity slowed in August added to pressure on share prices. After suffering their worst month in three years in August, US shares tumbled after Tuesday opening bell. Related:Wall Street down 2% as markets hit by Chinese economy woes - live updates The sell-off on Wall Street mirrored losses in Asia overnight, and later on European bourses, in the wake of more weak data on China manufacturing sector, suggesting output slumped to a three-year low in August. China Shanghai composite index suffered a smaller 1.3% loss. Worries about waning demand from the world second biggest economy left Japan Nikkei down a hefty 3.8%, taking it close to a six-month low last week. (news.financializer.com). As reported in the news.

: And the Australian share market looks set to open lower after Wall Street fell with nervous investors selling down stocks amid continued worries over the potential impact of China slowdown, according to Nine News Australia. At 0645 AEST on Tuesday, the September share price index futures contract was down 21 points at 5,146. At 0630 AEST on Tuesday, the currency was trading at 71.17 US cents, down from 71.42 cents on Monday. NEW YORK - US crude oil has closed nearly nine per cent higher as the US government lowered its domestic production estimate and OPEC highlighted concern about multi-year low prices. KUWAIT CITY - Saudi stocks dived 17.2 per cent in August to lead a slide in other Gulf bourses which came under pressure from a sharp decline in oil prices and China economic woes. BRUSSELS - Inflation in the 19-country eurozone was unchanged at 0.2 per cent in August, official data shows, slightly higher than analysts expected. (news.financializer.com). As reported in the news.

emergency levels: The US central bank and the Bank of England looked poised to affirm the recovery by finally starting to raise interest rates after keeping them for years at emergency levels, according to The Guardian. Even the eurozone, having come close to unravelling once again, by this month appeared to have put the latest Greek crisis behind it. Growth was looking more established and the legacy of the financial crisis was dimming. All that changed on China Black Monday last week, when the stock market sell-off that had been rumbling along for weeks turned into a rout. In London, dramatic moves on the FTSE 100 were reminiscent of the worst days of the last crash. A near 9% fall in the main Shanghai Composite index, its biggest one-day drop since 2007, reverberated around global markets, sending other bourses from Sydney to Wall Street tumbling. (news.financializer.com). As reported in the news.

Majid Takht Ravanchi: Lawmakers in Iran and the US are still debating the deal, which will remove sanctions in return for restrictions on Iran nuclear program, according to Business Week. Its passage isn’t assured in either country, though President Barack Obama has said he will use his veto to override any attempt by the US Congress to block it. Lowering dependence on oil revenue and increasing tax collection will boost Iran economy, and the government isn’t waiting for the lifting of sanctions to promote growth, said Majid Takht Ravanchi, who took part in the negotiations that led to the 14 July agreement. In Iran, Supreme Leader Ali Khamenei hasn’t explicitly backed the agreement, and some parliamentarians are demanding the right to vote on it rather than leave the decision to the Supreme National Security Council. If there are difficulties with your domestic economy, then no matter how much you gain from sanctions relief, it won’t be enough to solve those problems in the long run. While sanctions relief is important to make the economy better, that is not the only instrument that the government has at its disposal, Ravanchi said an interview on 26 August at his Tehran office. (news.financializer.com). As reported in the news.

China Securities Regulatory Commission: Wang Xiaolu, who works for Caijing magazine, was nabbed shortly after markets crashed over the past fortnight, according to Nine News Australia. He then reportedly "confessed" to spreading "false information" that "caused panics and disorder at stock market, seriously undermined the market confidence, and inflicted huge losses on the country and investors", according to state media agency Xinhua. A Chinese journalist has reportedly confessed to causing "panic and disorder" on the Chinese stock market after he was detained for spreading fabricated information. The accusations apparently stem from an article Wang wrote last month about the China Securities Regulatory Commission stating that the body was working on devising a way to remove government money from the market. The latter two charges were levelled against Liu Shufan, an official with the regulator, who "confessed" to forging an official seal in order to fake divorce taxation certificates for his mistress. The regulator rejected the claim and decried the story as the CSRC is having its own problems, with four of its senior executives detained for "market violations", as well as taking bribes and forging official accreditation. (news.financializer.com). As reported in the news.

investors: The S&P 500 fell 16 points, or 0.8%, to 1,972, according to The Guardian. The Nasdaq composite slid 52 points, or 1.1%, to 4,776. Related:Rattled investors brace for big week as Federal Reserve considers rate increase The Dow Jones industrial average fell 114 points, or 0.7%, to 16,528. The falls came as investors reacted to similar dips in Asia and comments from the Federal Reserve vice-chairman, Stanley Fischer, over the weekend that suggested a rate increase could come sooner than some expected. It has fallen 12.5% this month, the third straight month of declines. In China, where a journalist from one of China leading financial magazines confessed on state television that his articles triggered the recent stock market chaos, the Shanghai Composite Index closed 0.8% lower on Monday. (news.financializer.com). As reported in the news.

currency: A result of the stock market movements was also some dramatic changes in currency exchange rates with significant movements in all the world major currencies, according to The Moscow Times. These events reinforce the need to carefully consider the currency that is transacted in. Richard Cowie Partner Dentons The world news has been dominated in the past week by stories on "Black Monday", the "Global stock markets sell-off" and the "China stock crash". This led to hundreds of billions being wiped off the world financial markets at the start of last week, although the markets seemed to rally towards the end of last week. Whether you are doing the latest multi-million dollar M&A transaction, refinancing debt, renting an apartment or buying a car, transactions are often priced by reference to USD or Euro, particularly when there is a foreign element. Some of the key factors that need to be considered include: Currency Mismatch Is there a mismatch between the currency that the payment obligation is being incurred in and the currency that the company or person earns money in . There are a number of strategies to deal with this, including: Currency hedging: currency hedging is, in effect, a way of insuring against a currency movement in a certain period. The currency that is selected can result in significant gains or losses depending upon the selected currency. (news.financializer.com). As reported in the news.

billion dollars: Since then, the domestic debt has been on a slow decline, crossing the 13.6 billion dollars mark the other week before falling further to the current level, according to Xinhua China. CBK data showed the drop was due to a flat sale of Treasury bonds in the past weeks, which account for 78.3 percent or 10.2 billion dollars of the total debt. The fall is a drop of 1.2 dollars since the end of the first quarter, where the debt stood at a peak of 14.7 billion dollars. The last Treasury bond was put on sale on August 20 and was worth 194 million dollars. Most of the bonds issued in the past few months have been massively subscribed due to a rise in interest rates as investors seek to cash in on the high yields. CBK received bids worth 188 million dollars but accepted only 109 million dollars at an interest rate of 15 percent. (news.financializer.com). As reported in the news.

Bloomberg: McKinley.* From Chuck Todd, Mark Murray, and Carrie Dann. *FIRST THOUGHTS.* **** The 2016 winners and losers of August*: This past weekend new Des Moines Register/Bloomberg poll of Iowa perfectly captures the presidential candidates who won August and the summer – and those who didn’t, according to MSNBC. The winners on the Republican side: Donald Trump and Ben Carson . The winner on the Democratic side: Bernie Sanders, who has surged 14 points since May and now trails Hillary Clinton by just seven points in Iowa. Obama over the renaming of Mt. The loser of August on the Democratic side It Clinton, of course, whose lead in the Hawkeye State has dropped from 41 points to just seven in the span of three months. Indeed, the Des Moines Register/Bloomberg poll finds 62% of GOP Iowa caucus-goers and 60% of Dem caucus-goers saying they’re dissatisfied with politicians in general. **** He or she who wins August doesn’t necessarily win in the end*: But keep this in mind: During the last three presidential cycles , the winners of August didn’t go on to capture the presidential nomination. The losers of August on the GOP side: Try Scott Walker , Jeb Bush , and Marco Rubio . What do Trump, Carson, and Sanders all have in common They’re political outsiders who are FAR from your business-as-usual politicians. (news.financializer.com). As reported in the news.

football players: Bennet Omalu, who discovered evidence of chronic traumatic encephalopathy , a degenerative neurological disease, in football players and put it on the league radar in the early 2000s, according to MSNBC. CTE, caused by repeated brain trauma, is believed to cause depression, dementia and other potentially dangerous behavioral changes. In the movie, Smith plays real-life, Nigerian-born forensic pathologist Dr. The NFL initial response to Omalu findings, which received national attention in the wake of a string of suicides by former players, was less than collegial, according to the 2009 *GQ* profile of Omalu on which the film is based. In an email leaked in the midst of the infamous hack of the studio, insiders speculated that Concussion is going to piss off the NFL. The first official trailer for the film was released on Monday, igniting a firestorm of social media buzz: The film appears to portray Omalu facing considerable resistance from league officials when he repeatedly attempts to raise awareness about the danger professional players are facing when they take the field. Sony has positioned the film for a Christmas Day release, which suggests that the studio is bullish on its awards season prospects. (news.financializer.com). As reported in the news.

Company Initial Public Offering: The lawsuit seeks to recover damages for Avalanche Biotechnologies investors under the federal securities laws To join the Avalanche Biotechnologies class action, go to the firm website at or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action, according to Market Watch. The lawsuit is pending in U.S. District Court for the Northern District of California. AAVL, -2.97% securities pursuant and/or traceable to the Company Initial Public Offering on or about July 31, 2014; and/or on the open market between July 31, 2014 and June 15, 2015, both dates inclusive of the important September 8, 2015 lead plaintiff deadline in the class action filed by the firm. NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. According to the lawsuit, Defendants made materially false and/or misleading statements and failed to disclose that Phase 2a of the AVA-101 study was not designed to show any statistical significance between the active and control groups in the secondary endpoints. A class action lawsuit has already been filed. When the true details entered the market, the lawsuit claims that investors suffered damages. (news.financializer.com). As reported in the news.

Company: A lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class consisting of all persons or entities who purchased El Pollo Loco securities between May 15, 2015 and August 13, 2015, according to Market Watch. The complaint alleges that the Company and its executives violated federal securities laws by failing to disclose that: store traffic had declined substantially beginning in the first quarter of 2015; and as a result, comparable store sales during the second quarter of 2015 ending on July 1, 2015 were 50% lower than the 3%-5% growth the Company had led investors to expect. LOCO, -5.04% of the October 23, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers. In fact, during post-market hours on August 13, 2015, the Company reported its second quarter 2015 results which showed that comparable store sales had only grown 1.3%. After the announcements, El Pollo Loco share price fell from a closing price of $18.36 per share on August 13, 2015, to a closing price of $14.56 per share on August 14, 2015 -- a drop of $3.80 or 20.7%. Request more information now by clicking here: www.faruqilaw.com/LOCO. There is no cost or obligation to you. Faruqi & Faruqi, LLP also encourages anyone with information regarding El Pollo Loco conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Take Action If you invested in El Pollo Loco stock or options between May 15, 2015 and August 13, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/LOCO. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. (news.financializer.com). As reported in the news.

Wayfair CEO Niraj Shah: The investigation concerns whether Wayfair and certain of its officers and/or directors have violated Sections 10 and 20 of the Securities Exchange Act of 1934, according to Market Watch. On August 31, 2015, Citron Research published a report entitled "Wayfair is the Most Mispriced Stock Citron Research Has Seen in Years." The Citron report stated, in part, that: Wayfair had deliberately refused to acknowledge Overstock as a competitor in its SEC filings, despite the similarities between the two companies, because "if they acknowledge Overstock as a comp, it becomes apparent to all that Wayfair stock is not worth more than $10 a share"; and Wayfair CEO Niraj Shah described the company as profitable "for the first nine years of this business" in an August 13, 2015 interview, when the company, per its S-1 filing, had $190 million in cumulative losses before going public, "and the number has done nothing but escalate." On this news, Wayfair stock has fallen as much as 4.52, or 10.7%, on intraday trading on August 31, 2015. W, -11.65% Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. (news.financializer.com). As reported in the news.

: He also confirmed that Brussels would provide an additional 5 million euros to assist France with the thousands of migrants and refugees living in the Calais region, according to Deutsche Welle. The humanitarian aid should help to finance a new refugee center which will hold around 1,500 people. The EU also pledged solidarity with France in managing the refugee crisis. "We will never turn away those who need protection," promised Frans Timmermans, the vice-president of the EU commission. Over 3,000 refugees currently live in camps and refugee centers, also known as "the Jungle," in the northeastern port city. Call for more border guards Both Valls and Timmermans called for more EU unity on refugees: "We need the cooperation of all member states. Refugees live in often squalid conditions in the camps while waiting to travel further into Britain. 0:00:00 0:00:00Situation in Calais, France Valls tried to deter migrants from coming to Calais on Monday, saying that security around the port and at the Eurotunnel had been "considerably reinforced." "To come to Calais is to throw yourself into a dead end," he warned. (news.financializer.com). As reported in the news.

University Waterloo: Founded by inventor and University of Waterloo grad Ibraheem Khan, Smarter Alloys has just announced it will begin building prototypes of devices that use its revolutionary metal memory technology for everything from orthodontics to automobiles and aerospace, according to CBC. Rosemary Barton: How a recession would shake up the election campaign Canada economy: Five reasons not to panic Economy shrank by 0.2% in May, boosting recession fears "Humans are probably the most important," says Khan, running through a list of reasons for basing his new manufacturing facility in the Waterloo area. When the latest growth figures come out Tuesday morning, the answer would be clear. Smarter Alloys wants access to the region high-tech talent pool. But the unique details behind Khan business decision demonstrate that some of the standard arguments for what leads to businesses success do not always match the reality. And the money the company is spending is boosting Canada GDP. Behind the statistics Khan startup is part of the reality behind tomorrow statistics. (news.financializer.com). As reported in the news.

government attempts: Seven percent growth would be fast by the standards of almost any other economy, but some analysts claimed the latest GDP figures indicated the government attempts to push India economy onto a sustained high-growth trajectory may be faltering, according to Deutsche Welle. Nearly half of India 1.25 billion people are under 25, and the population is growing by 1.22 percent annually "The GDP number shows there is no take-off in any of the key sectors of the economy," Madan Sabnavis, chief economist at Care Ratings, told AFP news agency. "The high government spending which was expected to provide the boost isn't being reflected in the numbers." India government changed the way it calculates GDP in January. But that was down slightly from 7.5 percent GDP growth in the previous quarter, and lower than the median forecast of 7.4 percent growth in a survey of economists by Bloomberg News earlier this month. It now uses a revised formula for the calculation, with officials saying the new method conformed more closely to international standards Modi magic fading Prime Minister Narendra Modi won a landslide election in 2014 on a promise to reform and revive the Indian economy and create millions of jobs for the burgeoning population of young adults. 0:00:00 0:00:00Modi-fied India in upbeat mood However, many of Modi proposed reforms have stalled in India parliament, where his Bharatiya Janata party lacks a majority. There a backlog of about 700,000 unsold homes. One sign that India economy isn't as robust as had been hoped is a slowdown in the real estate development sector. (news.financializer.com). As reported in the news.

oil prices: But what accounts for the further plunge in oil prices in the last few weeks — to lows last seen in the immediate aftermath of the 2008 global financial crisis — and how will it affect the world economy The standard explanation is weak Chinese demand, with the oil price collapse widely regarded as a portent of recession, either in China or for the entire global economy, according to The Moscow Times. But this is almost certainly wrong, even though it seems to be confirmed by the tight correlation between oil and equity markets, which have fallen to their lowest levels since 2009 not only in China, but also in Europe and most emerging economies. When the oil price halved last year, from $110 to $55 a barrel, the cause was obvious: Saudi Arabia decision to increase its share of the global oil market by expanding production. The predictive significance of oil prices is indeed impressive, but only as a contrary indicator: Falling oil prices have never correctly predicted an economic downturn. Conversely, every global recession in the past 50 years has been preceded by a sharp increase in oil prices. On all recent occasions when the price of oil was halved — 1982-1983, 1985-1986, 1992-1993, 1997-1998, and 2001-2002 — faster global growth followed. (news.financializer.com). As reported in the news.

current valuations: Alfa Bank Alexander Kornilov upgraded the oil sector to a buy last week, while Goldman Sachs Group Geydar Mamedov said earlier in August that current valuations offer an attractive entry point, according to Business Week. A weaker rouble is the key factor helping Russian oils to offset the drag of lower oil prices and this gives Russian oil companies a serious advantage against their global peers, says Kornilov. For one thing, the depreciating rouble gives Russian oil producers a cushion against plunging commodity prices because it cuts costs and taxes for companies that earn in dollars but pay most of their expenses in domestic currency. He recommending Rosneft and the preferred shares of Surgutneftegas. Commodity Rout Prices for Brent crude, the benchmark grade for more than half the world oil, have dropped more than 50 per cent since last year high of $115 per barrel. Lukoil remains his top choice. (news.financializer.com). As reported in the news.

Bloomberg: McKinley.* From Chuck Todd, Mark Murray, and Carrie Dann. *FIRST THOUGHTS.* **** The 2016 winners and losers of August*: This past weekend new Des Moines Register/Bloomberg poll of Iowa perfectly captures the presidential candidates who won August and the summer – and those who didn’t, according to MSNBC. The winners on the Republican side: Donald Trump and Ben Carson . The winner on the Democratic side: Bernie Sanders, who has surged 14 points since May and now trails Hillary Clinton by just seven points in Iowa. Obama over the renaming of Mt. The loser of August on the Democratic side It Clinton, of course, whose lead in the Hawkeye State has dropped from 41 points to just seven in the span of three months. Indeed, the Des Moines Register/Bloomberg poll finds 62% of GOP Iowa caucus-goers and 60% of Dem caucus-goers saying they’re dissatisfied with politicians in general. **** He or she who wins August doesn’t necessarily win in the end*: But keep this in mind: During the last three presidential cycles , the winners of August didn’t go on to capture the presidential nomination. The losers of August on the GOP side: Try Scott Walker , Jeb Bush , and Marco Rubio . What do Trump, Carson, and Sanders all have in common They’re political outsiders who are FAR from your business-as-usual politicians. (news.financializer.com). As reported in the news.

Queen Park: Then Queen Park came looking for a new deputy minister of training, colleges and universities with an offer Levy felt he couldn’t refuse, according to The Toronto Star. They talked about how important it is to see post-secondary education as an investment in our economic and social future – and how the province depends on the success of young people, which is how I’ve always seen education, said Levy Monday, fresh from a Ryerson event with thousands of first-year students, the sort of front-line contact he said he hopes to continue somehow in his new post. The president of Ryerson had agreed to postpone his retirement this summer so the university could find a successor after an earlier choice abruptly pulled out — but at 66, Levy said he hadn’t been thinking of a new full-time job. Levy will stay at Ryerson until he assumes his new post Dec. 1, and said the university hopes to have a new president by September 2016. The folksy motorcycle buff who has been president for 10 years has been hailed for his focus on innovation, especially the supportive home base he launched for campus inventors called the Digital Media Zone, where students could brainstorm, test their inventions and meet potential investors. Levy had been poised to retire from the booming urban campus July 31, when his tentative successor, Concordia University President Alan Shepard, withdrew and Levy agreed to stay on for up to two more years if needed while they sought a successor. (news.financializer.com). As reported in the news.

Elio D Amato: But his move to a more hands-on role has coincided with Crown very own high-stakes game, rolling the dice on major new casinos just as sliding revenues have caused a rapid lift in debt. "Crown at a bit of a tipping point, a precipice as it were," Lincoln Indicators chief executive Elio D'Amato said. " all goes to plan they will be fine, otherwise they may very well be scrambling for some more capital, according to Australian Broadcasting Corporation. And investors definitely won't be happy about that." Crown jewel will be the $1.4 billion Barangaroo casino in Sydney, along with development plans in Las Vegas, a new five-star hotel in Melbourne, a Perth casino redevelopment and a third casino in Macau. Related Story: James Packer quits as Crown chairman as casino profit slumps Related Story: Crown Entertainment blames Macau troubles for profit slump Map: Australia James Packer recent decision to step aside as chairman of his Crown Resorts gambling empire may have come as a bolt from the blue to many observers. With so many wheels spinning, Mr Packer will move into a day-to-day management role when he steps down as chairman this month. "Mr Packer stepping down is a sign now the company is at a very important juncture point in its operations and business," Mr D'Amato said. "Mr Packer really wants to focus on the delivery of some key projects. I suspect his move is more strategic in that he wants his best man on the job." Debt-to-earnings ratios slip under guidance figure Some investors, however, are concerned about the level of debt Crown is carrying to finance the expansion. Failure of the delivery of those projects could put Crown under pressure in some three to four years' time. "So the work that is put in now is critical to the long-term success of Crown. (news.financializer.com). As reported in the news.

Li Yifei: Man declined to comment on Ms Li, one of the nation leading businesswomen and the former head of MTV in China, according to The Independent. Read more: Why the China market crash is not what it seems China has exposed the fatal flaws in our liberal economic order Beijing reels as a nation of market speculators counts the cost China main Shanghai stock market fell 0.8 per cent on Monday, marking a 12 per cent fall for August and a near 40 per cent fall from the end of June. The London-listed FTSE 250 hedge fund manager Man Group was also dragged into the affair on Monday as it emerged that Li Yifei, the chairman of its China unit, was taken into custody to assist a police inquiry into market volatility. Coming after a 14 per cent slump in July, it is the biggest two-month fall since 2008. Authorities in China are cracking down on trading abuses and malicious short selling – betting against shares – as well as intervening in markets directly in an attempt to calm turmoil before Thursday celebration of the 70th anniversary of its victory against Japan in the Second World War. The shock waves from China – fuelled by fears over a hard landing for the previously fast-growing economy – reverberated around the world last month, wiping more than $5 trillion off the value of global stock markets as Beijing also unveiled a shock devaluation of its currency. (news.financializer.com). As reported in the news.