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

: The victory, coupled with Scotland 1-0 defeat by the Georgians in Tbilisi earlier in the day, saw Ireland leapfrog Gordon Strachan side in the table and rekindled their hopes of clinching a play-off spot for next summer finals in France, according to The Independent. It was Gibraltar seventh successive defeat in the group and they have now conceded 38 goals in total. Keane, who plundered a 13-minute hat-trick against the same opposition in October 7-0 win in Dublin, did not get the opportunity to repeat the feat when he was withdrawn with 20 minutes remaining as Martin O’Neill cast an eye towards Monday night game with Georgia at the Aviva Stadium, and it was his replacement Shane Long who completed a 4-0 win in Faro. However they came within two minutes of their longest competitive shut-out, the 28 minutes they managed against Germany in June, before Ireland finally broke the deadlock. Republic of Ireland: Given, Christie, O’Shea, Clark, Hendrick, Hoolahan , McCarthy , Whelan, Brady, Keane , Walters. Christie came to the rescue when he drilled a low shot across keeper Jordan Perez and saw the ball squeeze inside the far post, and it would have been 2-0 with 28 minutes gone had the keeper not acrobatically turned Jonathan Walters’ effort over the bar. (news.financializer.com). As reported in the news.

: DeGroote, who has the business and medical schools at Hamilton McMaster University named after him, has been lionized as a self-made billionaire philanthropist, according to CBC. Send tips on this or any other story to investigations@cbc.ca or call Joseph Loiero at 416-859-8617 On Aug. 1, 2013, the business tycoon had $500,000 wire transferred through an intermediary to a man named Sasha Vujacic – also known as Sasha Visser or simply as Sasha. New information obtained by CBC News contradicts evidence DeGroote swore under oath in which he denied any such payment was ever made when cross-examined about it in 2013. As part of ongoing legal proceedings involving a dispute over his investment in a Dominican Republic casino, DeGroote was cross-examined on Oct. 25, 2013. DeGroote repeatedly and categorically denied it, stating that he has "not paid anything directly or indirectly for Mr. During that examination DeGroote was asked several times about paying Sasha or sending him money. (news.financializer.com). As reported in the news.

emerging markets: This volatility could well continue until the US Federal Reserve interest rate meeting on 17 September, according to The Independent. Slowing growth in China and other emerging markets, along with falling commodity prices, has been keeping a lid on global inflation – which could give the US central bank cause to maintain low interest rates a little longer. But just three days later these losses had been recovered, and on Thursday 27 August there was a gain of 3.7 per cent – one of the top 50 days of FTSE 100 performance since its inception in 1984. However, should rates rise, expect a strong market reaction. There is no doubt that doom and gloom sells, and we have seen some spectacularly dramatic headlines. It was interesting to witness how the media and commentators reacted to the volatility in global equities. (news.financializer.com). As reported in the news.

: Two goals – two headers – from West Bromwich Albion defender Gareth McAuley– sent the Irish on their way, according to The Independent. McAuley scored on 12 and 71 minutes. Not since 1986 have Northern Ireland achieved that. His is a happy habit – five goals in his last 11 internationals – though two in one game is rare. Edmundsson red card came in the 65th minute and, within 10 minutes, McAuley had his second while Kyle Lafferty had gleefully belted in a third. In between, Joan Simun Edmundsson – once of Newcastle United and Gateshead – equalised, but was later sent off. (news.financializer.com). As reported in the news.

: In 2014, there were about 5,000 applications, but only 11 were granted, according to Asahi Shimbun. In June, the Justice Ministry came up with a proposal to deal more strictly with those individuals who apply for refugee status largely to remain legally in Japan to work, not because they face persecution back home. Tokyo has long been criticized for its tough stance against accepting refugees. However, that proposal drew strong criticism from the U.N. High Commissioner for Refugees as well as the Japan Federation of Bar Associations, which asserted that potential refugees would not be given adequate protection. But in recent years, there has been an increase in women in African nations fleeing because they face physical abuse. Currently, individuals applying for refugee status are recognized as such if there is a fear they will face persecution in their native country due to ethnic, religious or political reasons. (news.financializer.com). As reported in the news.

: It was crazy, said co-owner John Plentai, whose parents opened the restaurant in 1947, building it into a local institution for homestyle food that routinely attracts visiting politicians like Conservative Leader Stephen Harper, according to The Toronto Star. But those plants, including the old Stelpipe factory across the street, have shut in a dismal domino effect over the last two decades, leaving ruins and vast vacant lots, one with a sign that says, ironically, demolition is progress. Lined up outside were hungry workers from massive nearby factories like John Deere and Union Carbide who were looking for hearty breakfasts washed down with steaming mugs of coffee. With the Oct. 19 federal election campaign set to escalate after Labour Day, people are talking, as always, about the number one issue in this city of 51,000 in the heart of the Niagara Centre riding — jobs. Now we only have one and we open at seven, said waitress Charlene Madere, a twinkle in her eye as she greeted a steady stream of regulars at lunch. We used to have three cooks on in the morning. (news.financializer.com). As reported in the news.

: Speaking at the Liberal State Council in Hobart today, Mr Abbott confirmed $16 million originally marked for a Cadbury factory upgrade will be rolled into the new grant program, according to Australian Broadcasting Corporation. The State Government has also kicked in $8 million. Related Story: Tasmania Opposition casts doubt over $16m Cadbury grant Related Story: Cadbury dips out of $16m grant for Hobart factory upgrade Map: Hobart 7000 Tasmanian businesses will be able to apply for a share of a new $24 million jobs and investment fund unveiled by Prime Minister Tony Abbott. Mr Abbott said the fund would deliver a $72 million boost to the Tasmanian economy, as businesses would be required to match every $1 in taxpayer funds with $2. The independent Member for Denison, Andrew Wilkie, said the outcome was a broken promise. "The Prime Minister announcement today that the Cadbury money will spread across the state is a broken promise and a betrayal of the people of Glenorchy," he said. "The fact is that a specific need for economic stimulus was identified in Denison and in the Glenorchy area in particular. "The money was for Glenorchy alone and a 2013 Liberal Party election promise, and to blame Cadbury for failing to deliver it is quite dishonest. "Glenorchy has one of the highest unemployment rates in the state. Cadbury withdrew its funding request to upgrade its Claremont site earlier this year. "The $16 million committed to Cadbury will remain in Tasmania and will be invested in projects that deliver jobs and productivity growth to the state," Mr Abbott said. (news.financializer.com). As reported in the news.

: Rooney opened the scoring in Serravalle on Sunday from the penalty spot in the 13th minute, leaving him with an identical international record to 1966 World Cup-winner Charlton of 106 caps and 49 goals, according to Australian Broadcasting Corporation. England added to that goal before the interval via a Cristian Brolli own goal, and Ross Barkley first goal for his country, along with late efforts from substitutes Theo Walcott, who scored twice, and Harry Kane completed a routine win. "It a proud moment to equal Sir Bobby Charlton record," Rooney told ITV. "My aim is to push on and try and help the team win on Tuesday and break the record." England have won all seven games in qualifying Group E and need only draw with the Swiss at Wembley to be sure of finishing in top spot. Map: England Wayne Rooney has equalled Bobby Charlton England goalscoring record as Roy Hodgson side beat San Marino 6-0 to become the first nation to secure qualification for Euro 2016. However, Switzerland make the trip buoyed by their remarkable performance in beating Slovenia 3-2 in Basel. But the hosts were given hope when Borussia Moenchengladbach striker Josip Drmic came off the bench to pull a goal back in the 80th minute. Slovenia looked set to claim a crucial win thanks to goals either side of half-time from Milivoje Novakovic and captain Bostjan Cesar. (news.financializer.com). As reported in the news.

federal state levels: Since the election of Liberal administrations at both federal and state levels, the apple isle has shown an admirable upturn in fortune, he said."Thanks to a good government in Canberra and over the last 12 months or so, a very good government in Hobart, Tasmania has gone from being just a great place to live and a great place to visit, to being a great place to work and a great place to invest."Mr Abbott cited the creation of 10,000 jobs in Tasmania over the past two years, according to Nine News Australia. In the past 12 months, business investment has grown five per cent, private investment is up eight per cent and construction investment is up 15 per cent."Confidence is surging back into the Tasmanian economy," Mr Abbott said. That seemed to be the message from Prime Minister Tony Abbott who was the star guest at Saturday state Liberal Party conference in Hobart. He used the opportunity to champion the benefits for Tasmania of Australia pending free trade agreement with China."Trade means jobs and more trade means more jobs and more jobs mean more prosperity, it as simple as that," the prime minister said. Mr Abbott chastised Labor for standing in the way of the trade deal and there was also some general dressing down of the opposition."What Labor are doing is saying no about everything that bright about our future," the prime minister said. Tasmania wine, beef, lamb, cheese and seafood are just some of the products with a great appeal for the Chinese market, he added. (news.financializer.com). As reported in the news.

Australia: In 2011, the iron ore-rich Pilbara region of north-west Australia was on the frontier of a 21st century gold rush, this time with iron ore as the main prize – driven by China formidable appetite for natural resources to build up its infrastructure and modernise its economy, according to The Guardian. Pilbara boasted salaries two-thirds higher than the national average and almost 80% of workers were flown into their jobs from Australia big cities. Apartment blocks hurriedly tacked together by developers at the peak of the country boom stand empty, because their promised supply of fly-in-fly-out mineworkers has dried up, along with the jobs they were brought in to do. Now, mortgaged to the hilt on homes that lost value almost before the paint had dried, the mineworkers that remain are accepting longer hours and lower wages in an effort to keep up with the repayments. Oil, not iron ore, has been the foundation of that city prosperity. Their plight resonates thousands of miles away in Calgary, Canada. (news.financializer.com). As reported in the news.

: The results will provide an impression of where the city hot property prices are headed next, according to Australian Broadcasting Corporation. In the 12 months to August, home values increased by an average of 18.4 per cent, according to Tim Lawless, head of research at Corelogic RP Data. "It the highest rate of capital gain since late 2002," he said. "At the same time, auction clearance rates remain well above historical averages, around the high 70 per cent mark." Even though clearance rates began easing in late winter, some agents say the current market is showing rare strength. "Any auction clearance rate around 60 per cent, for me, is great," said Aris Dendrinos of agency Richardson and Wrench Marrickville. "About 10 per cent of the properties that go to auction are probably unsaleable. Related Story: RBA warns rising house prices lift economic risks, increase inequality Related Story: Home prices surge, Melbourne and Sydney lead gains again Map: Sydney 2000 The focus on Sydney housing market is set to hit overdrive this weekend as the first spring auctions take place. Greater Sydney house values growth Inner-western Sydney: 25.7 per cent Central-western Sydney: 24.9 per cent Outer south-western Sydney: 23.1 per cent Fairfield-Liverpool: 22.5 per cent Central-northern Sydney: 22.3 per cent Blacktown: 21.3 per 19.4 per cent St George-Sutherland: 19.4 per cent Inner Sydney: 19.1 per cent Outer-western Sydney: 18.7 per cent Lower-northern Sydney: 18.5 per cent Gosford-Wyong: 15.4 per cent Northern Beaches: 15.2 per cent Eastern Suburbs: 9.3 per cent Source: Core Logic RP Data "It very rare that 100 will sell out of 100: There something not quite right with the property; the owner is unreasonable; the agent hasn't advertised it properly. But even within the metropolitan area, there are micro-trends favouring some areas over others. "Sub-regions can behave very differently depending on a wide range of factors such as the balance between supply and demand, the availability and efficiency of transport infrastructure, the mix of property types such as industrial or commercial land uses, school zones, etc," Mr Lawless said. So when you get anywhere north of 80 per cent, it crazy times." The median price for a home in Sydney is now about $1 million, making the city among the most expensive in the world in which to buy. (news.financializer.com). As reported in the news.

: On Wednesday, the dollar dipped below 70 US cents for the first time since April 2009, according to Australian Broadcasting Corporation. The drop was triggered after economic growth figures for the second quarter came in below expectations. On another day of wild swings for the share market, the dollar was buying 69.7 US cents about 12:30pm . The All Ordinaries was also down by six points at 5,043, despite being up in midday trade, while the ASX 200 was off six points at 5,022. According to the Australian Bureau of Statistics , the figures showed the country gross domestic product grew by 0.2 per cent in the three months to June — the weakest rate of economic growth since the March quarter of 2013. Yesterday, official data also showed retail sales went backwards in July, with turnover falling by 0.1 per cent to $24.3 billion. currency, markets, australia noindex The ABS said reduced mining and construction activity weighed on growth, along with declining exports. (news.financializer.com). As reported in the news.

Andy King Bale: Related:Wales within reach of Euro 2016 finals as Gareth Bale downs Cyprus With so many of the current group products of a successful Wales Under-21 team under Brian Flynn and coming through into the senior side at the same time – John Toshack gave 11 of the 13 that featured in the 1-0 victory over Belgium in June their international debuts – the golden generation tag has been around for a while and at times there were doubts about whether the players would be able to live up to the hype, according to The Guardian. Wales slipped to 117th in the world in the rankings four years ago and the core of a promising group – Aaron Ramsey, Wayne Hennessey, Chris Gunter, Joe Ledley, Joe Allen, Neil Taylor, Andy King and Bale – could have been forgiven for wondering whether they would ever get a chance to represent their country on the biggest stage. Gareth Bale thumping late header against Cyprus on Thursday gave Wales a precious 1-0 win in Nicosia that strengthened their hold on top spot in Group B and means they can book their place at Euro 2016 with another victory over Israel in Cardiff on Sunday. Everything, however, has spectacularly come together in this campaign and reinforced the belief that Wales, inspired by Bale, who has scored six and set up two of their nine goals in qualification, are blessed with the most talented crop of players in years. Then, yeah, absolutely. We’ll be the golden generation when I’m sitting here with a smile on my face and we’re celebrating because we’ve got enough points which means we can’t be caught and we’re on our way to France, Coleman, the Wales manager, said. (news.financializer.com). As reported in the news.

Kazakhstan Reykjavik: They can seal their place in the finals on Sunday when they host Kazakhstan in Reykjavik where victory will ensure them a top-two finish in Group A. Related:Iceland close to Euro 2016 place with surprise away defeat of Holland Gylfi Sigurdsson 51st-minute penalty ensured a famous victory for Iceland, who were backed by 3,000 travelling fans at the Amsterdam Arena, to compete a double over the Dutch, who lost 2-0 in Iceland last October, according to The Guardian. We can be really proud of winning two games against one of the best attacking teams in Europe. It would be very nice to have a beer now, said the co-coach Heimir Hallgrimsson after the 1-0 win in Amsterdam put the country only one win away from reaching the Euro 2016 finals, but we need to keep our players’ feet firmly on the ground. This win is the biggest achievement in the history of Iceland football, added Hallgrimsson. We are just flying at the moment, he said. We were lucky the Dutch had a player sent off but we played the game according to how we would have liked to. (news.financializer.com). As reported in the news.

Manufacturing Canada unit: Manufacturing in Canada per unit of imported manufactured goods has gone down 21 per cent in the last 10 years, according to The Toronto Star. This statistic is based on inflation removed, so it is very real. Anyone who wants to know the real economic status of Canada should look at manufacturing in Canada. Also, imports of manufactured goods have increased in relation to our exports by 500 per cent over the last ten years, also inflation removed. Look at the Canadian economy to understand where we have to be concerned and where we have to act. Forget about China. (news.financializer.com). As reported in the news.

: Attached to the certificate was a sheet of coupons, according to Deutsche Welle. Each year, Klaus tore a coupon from the sheet and redeemed it for a dividend at his local savings bank. His parents wanted him to learn the way the economy works and gave him the Volkswagen share as a Christmas present. Schopenhauer, the philosopher, didn't have many money worries Klaus was in good company. That where the word "coupon cutter" comes from. Already 200 years ago, Arthur Schopenhauer cashed in so many coupons that he was able to live from the profits and could afford to spend his life philosophizing about "The World as Will and Representation." But the Germans didn't reserve much respect for such investors. (news.financializer.com). As reported in the news.

: Those who remain bullish on China long-run economic prospects have switched more of their focus to the Hong Kong market because valuations are lower, it is better regulated, and less prone to the whims of officials in Beijing than the mainland markets in Shanghai and Shenzhen, according to Euro News. Funds that see the recent declines in the yuan, Chinese asset prices, and the nation exports as a harbinger of much more economic pain to come are responding with an array of maneuvers. The implosion in Chinese equity prices after a domestic, debt-fuelled buying binge has triggered a range of responses from foreign investors. Those include betting against the currencies of Asian trading partners, and shorting British banks HSBC Holdings Plc and Standard Chartered Plc, who both have big exposure to China. The investors who are betting against China or have given up on it as an investment destination are in the minority, though. Some are even buying U.S. mortgage-backed bonds on the expectation that rich Chinese will take money out of China and pour it into U.S. real estate as a safe haven. (news.financializer.com). As reported in the news.

: The bearish divergence was flashing a yellow light for stocks as far back as two years ago, but it didn’t turn red until a couple of weeks ago, when the S&P 500 SPX, -1.53% broke below support at the January low, according to Market Watch. Bearish divergences don’t necessarily suggest investors should sell, but they do warn that when a breakdown in price does occur, they should not fight it. The long-term bearish divergence in the S&P 500 chart suggests it is still much too soon to try to pick a bottom. The pattern now indicates the index could fall a lot further before the opposite bullish divergence appears. One way chart watchers use the RSI is to watch for when the RSI trend moves in the opposite direction of the price trend it tracks. The Relative Strength Index technical indicator, which compares the magnitude of recent gains with the magnitude of recent losses, is used by chart watchers to gauge the momentum of a market trend. (news.financializer.com). As reported in the news.

: That, in turn, is cause for worry for some emerging economies, who have been pushing for the Fed to hold off on readjusting its monetary policy, according to Deutsche Welle. There had also been speculation that the drafters of the G20 communique that will be issued at the end of the group two-day meeting in Ankara, Turkey, could include a clause describing a possible rate hike as a serious risk to global markets. Adding to their worries is the prospect of a interest rate hike by the US Federal Reserve, which has hinted that the US economy could handle higher costs for borrowing because it is faring much better than when rates were lowered. Rather not rock the boat But now a diplomatic source, quoted by news agencies, has said the G20 won't publicly call for any such delay. Developing countries had pushed for a specific warning for the Fed not to raise interest rates. Instead, when the finance ministers and central bank chiefs of the world 20 leading economies meet Friday and Saturday in Ankara, their joint declaration will contain broader language welcoming measures to stabilize economies and reduce volatility, the source said. (news.financializer.com). As reported in the news.

: I spoke to him, according to The Independent. That water under the bridge. Hodgson said: That was dealt with by Dan Ashworth, who took him to one side and spoke to him. There’ll be questions like that coming up on a regular basis during the rest of my time as England manager. The England manager was unperturbed by the controversy surrounding Stones and his failed attempt to persuade Everton to allow him to join Chelsea last month. I’ll save the dramas for the real dramas. (news.financializer.com). As reported in the news.

jobs: The pan-European index added to earlier losses after the U.S. nonfarm-payrolls report showed a less-than-expected gain of 173,000 new jobs last month, but looked otherwise strong as the unemployment rate fell to 5.1%. Global markets were keying on the jobs report as it comes before the Federal Reserve meets later this month to decide what next for U.S. interest rates, according to Market Watch. The current ultra-low rates have contributed to Wall Street six-year bull run. The Stoxx Europe 600 SXXP, -2.52% gave up 2.5% to end at 353.11, losing 2.8% for the week. U.S. stocks slid after the report. In Frankfurt, the DAX 30 DAX, -2.71% dropped 2.7% to end at 10,038.04, as the German index shed 2.5% for the week. The jobs report headline number certainly did not deter the market hawks from believing that rate increase was still very much on the Fed September agenda, said David Buik, market commentator at Panmure Gordon & Co., in emailed comments. (news.financializer.com). As reported in the news.

: Salman, 79, ascended the throne last January after his half-brother Abdullah passed away, according to Deutsche Welle. When the two leaders meet, President Obama will represent a nation that become increasingly self-reliant in energy production, while King Salman will represent a nation that become increasingly self-assertive in its foreign policy. Riyadh provided the oil, Washington provided the security. "It become infinitely more complicated than that," James B. Smith, the American ambassador to Saudi Arabia from 2009-2013, told DW. On Friday, US President Barack Obama welcomes Saudi King Salman to Washington for the first time. Last March, Riyadh launched a military intervention in neighboring Yemen after Houthi rebels drove the US-Saudi backed government from power. For the first time, Saudi Arabia is clearly in the driver seat. "Traditionally they've operated in the shadows, using money or influence," Smith, now president of C&M International, said of the Saudis. "The Yemen campaign indicates a much more muscular foreign policy. Though the US has provided intelligence and logistical support, Washington is largely on the sidelines, according to Smith. (news.financializer.com). As reported in the news.

: Hiring in August was the slowest in five months, but the government revised up job growth for June and July by a combined 44,000, according to CBC. From June through August, the economy added a solid 221,000 jobs a month, up from an average of 189,000 from March through May. The Labor Department said Friday that the jobless rate fell to 5.1 per cent — a level consistent with a normal job market and the lowest since April 2008 — from 5.3 per cent. Three years of solid hiring have put nearly 8 million more Americans to work. But as the final report on the job market before the Fed meets Sept. 16-17, it one of the most significant pieces of evidence it will consider. Friday report appeared neither so strong nor so weak as to tilt the Fed decisively toward either a rate hike or against one. (news.financializer.com). As reported in the news.

: But the problems with Mr Hellawell go well beyond this, according to The Independent. Sports Direct has been repeatedly involved in governance controversies, ranging from its eccentric moves in the stock market taking minority stakes in other businesses, to its attempts to hand bucketloads of free shares to the founder, deputy chairman and controlling investor Mike Ashley. That understandable, you might think, given the company longstanding, and lamentable, use of zero-hours contracts for a large part of its workforce and its cavalier behaviour when part of subsidiary USC went under leading to 200 workers being laid off with just 15 minutes’ notice. When it comes to governance Mr Hellawell, a former policeman, is acquiring quite a rap sheet. It would have little difficulty both treating its employees better and steering clear of the controversies it keeps wading into. At its core, Sports Direct is a superb business that serves its customers well. (news.financializer.com). As reported in the news.

: Hiring in August was the lowest in five months, but the government revised up the June and July job growth by a combined 44,000, according to MSNBC. From June through August, the economy generated a solid 221,000 jobs a month, up from an average of 189,000 in March through May. The Labor Department says the unemployment rate fell to 5.1% from 5.3%, the lowest since April 2008. Steady hiring could encourage the Fed to raise rates at its meeting on Sept. 16-17 for the first time in a decade. Stocks opened lower immediately after the announcement of the August numbers, as traders digested the data. Still, stock market turbulence, a persistently low inflation rate and a sharp slowdown in China could complicate its decision. (news.financializer.com). As reported in the news.

global warming: That the top note from a report published this month by Citigroup, one of the planet largest banking and financial services companies, according to MSNBC. The 122-page document, which tends to leave policy wonks drenched in admiration, compared two possible futures. But a major new study argues that in fact the opposite is true: The economy could lose at least $44 trillion if the world fails to slow the impact of global warming. In one scenario, the world rapidly shifts to a mix of low carbon energy, like wind and solar. The total spent on capital expenses in the do-nothing scenario is calculated at about $192 trillion. In the other scenario, the world drifts along like it has for decades, using the atmosphere as an ashtray for carbon. * When climate change attacks* To the surprise of the authors, a pedigreed team of 10 financial analysts and economists, the basic costs of the two scenarios come out about the same. (news.financializer.com). As reported in the news.