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

political leaders: Their appearances, behavior and opinions are endlessly questioned and scrutinized, according to MSNBC. Despite it all, they’ve stood tall on the global stage and continued to shape the political arena. But for women, succeeding as political leaders – whether in local government or the highest offices in their countries – often comes at a price. Here are five political leaders we should know about:* *Theresa May, Home Secretary, United Kingdom* As the UK Home Secretary since 2010, May is responsible for the UK internal affairs, as well as immigration and citizenship. As Chair of the Global Partnership for Education, she advocates for women rights and emphasizes girls’ education as key to a thriving global economy. *Nicola Sturgeon, First Minister, Scotland* In 2014, Sturgeon became the first female to be appointed as Scotland First Minister. May has presided over some of the UK most critical challenges – including an increased terrorist threat and the current immigration crisis. *Julia Gillard, Former Prime Minister, Australia* Serving as Australia first female Prime Minister from 2010-2013, Gillard introduced significant nation-building legislation such as the National Disability Insurance Scheme and initiated far-reaching developments in foreign and economic policy. (news.financializer.com). As reported in the news.

Doug Elmendorf: In practical terms, GOP leaders had to pick their accountant, according to MSNBC. Doug Elmendorf term as head of the Congressional Budget Office was nearly over, and Republicans were under pressure to reappoint him to another term. It wasn’t one of their high-profile choices – whether or not to shut down the government, whether or not to sabotage American foreign policy, etc. – but it nevertheless mattered quite a bit. The recommendations made sense – Elmendorf developed a reputation as a respected, impartial economist, who was pretty effective in telling lawmakers – and by extension, all of us – how much stuff costs. Soon after, right on cue, Republicans showed Elmendorf the door, and introduced Keith Hall, a Republican stalwart, as the new CBO chief. As we talked about late last year, the argument from mainstream conservatives was that Elmendorf could extend meaningful credibility to GOP proposals through favorable scores – if Elmendorf said Republicans’ numbers add up, everyone would know GOP lawmakers were taking their responsibilities seriously. (news.financializer.com). As reported in the news.

: Therefore, BSH — a joint venture between the Robert Bosch company and Siemens AG — will remain active in Russia, investing 10 million euros this year, having poured more than 150 million into the country since 2005, including into the opening of two factories and a logistics center in St, according to The Moscow Times. Petersburg. Klein expects Russia economy to recover by 2018-19 and eventually become the largest market in Europe. In order to safeguard these factories from the crisis, the company has started to export their products abroad. In 2013, the company exported 50,000 items from its Russian factories, and this year that figure is planned to almost double to 90,000. Today, Russian-made Bosch washing machines are sold in Ukraine, Poland, Kazakhstan, Turkey, Scandinavia and Hong Kong, among other markets. (news.financializer.com). As reported in the news.

LDP General Council spring: Noda was chairwoman of the LDP General Council in spring 2014, when she voiced skepticism about the procedures Abe chose to allow Japan to exercise its right to collective self-defense, according to Asahi Shimbun. Before the Cabinet convened to endorse Abe intent to change the government traditional interpretation of the Constitution, Noda organized an intraparty debate on this matter. Seiko Noda, the only LDP legislator who sought to challenge Abe, failed to secure the recommendations from 20 Diet members required to run. At a Sept. 8 news conference where she announced her decision not to run, Noda said, I wanted to create a situation where people would say there are diverse opinions within the LDP. There are 400-plus LDP legislators, but not even 20 came forward in support of Noda wish to create such a situation. Her attempt to secure recommendations from 20 lawmakers was hindered by certain party factions and individuals close to the prime minister who did not want her bid for the presidency to negatively affect the progress of Diet deliberations on the controversial national security bills. This is pathetic. (news.financializer.com). As reported in the news.

: A representative from the pressure group Share Action claimed that workers are jeopardising their health for fear of being dismissed while another shareholder said the company reputation as an employer was atrocious and asked its chairman, Keith Hellawell, why he had not resigned, according to The Guardian. Unite union members protested outside Sports Direct headquarters in Derbyshire, where the meeting took place, by dressing up as Dickensian workers and holding a banner reading: It a ‘workhouse’ not a workplace. The company, which has gained notoriety for keeping 20,000 staff on zero-hours contracts and making Ashley a billionaire, robustly defended its treatment of workers at its annual shareholder meeting after strong criticism from activist investor groups. Investors also gave the company robust criticism over pay and the future of Hellawell. In response to the criticism, Hellawell said he was proud of the way this organisation operates . Claire Jenkins, a non-executive director, said comments about working conditions were misguided, adding: We are not operating Dickensian practices. More than half of the company independent shareholders who voted were against its pay policy, while almost a third refused to back the re-election of Hellawell as chairman. (news.financializer.com). As reported in the news.

: What has put the region on the fast track of its social and economic development Q2: Tibet has become a modernized region, with a booming economy and boosted connectivity, according to Xinhua China. At the same time, many people regard Tibet as a spiritual pilgrimage destination. Q1: Tibet has undergone great transformations in the past 50 years. Will modernization encroach on Tibet traditional culture (news.financializer.com). As reported in the news.

Italy Euro England: The goal record is, of course, a distraction from the real business of England attempting to improve on recent tournament performances, according to The Guardian. Indeed scoring hasn’t been the problem as much as keeping the opposition out and instilling a solidity through the rump of the team that was missing at the last World Cup. For those experiencing post-goal record withdrawal symptoms there is at least the consolation that Wayne Rooney can break England scoring record all over again next month against Lithuania and Estonia, and then again against France the following month, each goal from now on to be accompanied in an ideal world by a similar farrago of anticipation, ecstasy and commemorative newspaper pull-outs. Since the deathly 0-0 draw with Italy at Euro 2012 England have played nine games against opposition with high-class attackers without keeping a single clean sheet, in the course of which Brazil, Italy, Germany, Uruguay, Chile and Sweden have put the ball in their net 16 times. If Switzerland did find some joy passing their way around and through England in the first half there were some positives too. Tuning up that post-Gerrard midfield block and making sure he has full-backs who can defend as well as attack: this is Hodgson real test ahead of next year and as such the clean sheet against Switzerland, the toughest – or least un-tough – team in the group was more significant than Rooney late penalty at the other end. (news.financializer.com). As reported in the news.

Matteo Vitaioli: The tiny republic was so excited they even took a shot at Portugal and Real Madrid superstar Ronaldo in a Twitter post, mocking him for failing to score a goal so far in September, according to Nine News Australia. Trailing 1-0 in the 55th minute, striker Matteo Vitaioli was the hero when his powerfully driven free quick beat the wall and hit the back of the net. So it was no surprise when European minnows San Marino showed their unbridled joy after a breaking a 14-year drought to hit the back of the net during a Euro 2016 qualifier. The goal sent the San Marino players and staff into pandemonium, with officials and substitutes charging onto the field to hug and rejoice in the moment. But when you consider it was their first away goal in 14 years, covering 34 games and 3060 minutes of play, you can hardly blame them. But it was the post on their official Twitter account that took the cake, with the team pointing out their goal tally for September – 1 – compared to Ronaldo – 0. (news.financializer.com). As reported in the news.

: Adding to the government list of removing the carbon and mining taxes, and not going ahead with a Labor-proposed bank deposit levy, the parliament passed legislation on Wednesday that reversed a Labor law on inactive banks accounts, according to Nine News Australia. Labelled by the coalition as Labor "piggy bank tax" it returns the period of unclaimed money in accounts to seven years rather than three before it is automatically transferred to government coffers. The treasurer blamed the 5.6 per cent drop in the Westpac-Melbourne Institute consumer sentiment index on recent downgrades to world economic growth and volatility in global financial markets, particularly in China."But I say this - our economic plan is the best friend of Australian consumers because we get rid of Labor taxes," Mr Hockey told parliament on Wednesday. However, Westpac chief economist Bill Evans also pointed to last week disappointing Australian economic growth figures for the drop in confidence. Other new figures on Wednesday will have been soothing to the central bank, with demand for mortgages rising just 0.3 per cent in July along with a further sign that leading to investors is cooling."It still early days but there are some tentative signs that some of the measures introduced by a number of banks to slow investor-related lending growth are having the desired impact," Commonwealth Bank of Australia economist Gareth Aird said. Reserve Bank deputy governor Philip Lowe agreed that for many in the community, the moderate pace of economic growth is slower than they have become used to."While this disappointment is understandable, we should not lose sight of the fact that our economy has shown considerable ability to adjust, and to do so in a way that has preserved both overall economic and financial stability," he told a conference in Melbourne. (news.financializer.com). As reported in the news.

: Top political adviser Yu Zhengsheng stressed Tibet unity with the rest of China in his address to thousands gathered in front of the stunning Potala Palace in the regional capital of Lhasa, once home to the Dalai Lama and now a museum. "During the past 50 years the Chinese Communist Party and the Tibetan people have led the transformation from a backward old Tibet to a vibrant socialist new Tibet," Yu told the audience of schoolchildren, soldiers, armed police and party officials applauding and waving flags, according to Asahi Shimbun. People living standards have improved, infrastructure has been built across Tibet and its gross domestic product had grown 68 times, Yu said at the ceremony broadcast live on state television. The event lauded Tibet economic successes under Communist Party rule, even as activists criticized its record on human rights. Yu speech was followed by a parade of goose-stepping marchers carrying the national emblem of China, along with portraits of past and present leaders, including President Xi Jinping. Beijing sent troops to occupy the Himalayan region following the 1949 communist revolution. Dancers and musicians in traditional Tibetan dress also performed, although there was no visible participation by representatives of the Buddhist clergy that forms the backbone of the Himalayan region traditional culture. (news.financializer.com). As reported in the news.

auto repair shops: It the same in Seoul, according to CNN. Here are three areas of the South Korean capital currently surfing a tide of online hashtags. Yesterday happening hoods are soon gentrified and saturated with corporate opportunists, pushing scenesters elsewhere. Seongsu Zagmachi is a cafe and exhibition space housed in a former printing factory. For years, the area near Seongsu station was a warehouse zone with auto repair shops and shoe-making workshops. Acknowledged as a hot spot by local media and circling real estate investors, Seongsu -- the area around the Seoul Forest, Ttukseom and Seongsu subway stations -- encompasses a knot of fashionable restaurants and stores as well as a cluster of art spaces and cafes. (news.financializer.com). As reported in the news.

Russia: The decline in real incomes for Russians has continued for the 10 months since November 2014, according to The Moscow Times. The Economic Development Ministry estimates that real wages could fall by 9.8 percent in ruble terms in 2015 as compared to the previous year. According to a study by Bank of America Merrill Lynch, real annual wages during the first half of 2015 were lower in Russia than China and Mexico . That represents a 33 percent drop in dollar terms from the 2014 real annual wage in Russia of $839.7. The ministry expects wages to begin rising by the first quarter of 2016, and for salaries to rebound to 2014 levels only as late as 2018. In theory, the current situation should give Russia a significant competitive advantage in the global market by prompting investors to switch their attention away from the slowing Chinese economy where labor prices are rising and move their production facilities to this country and take advantage of the cheap labor available. Cheap labor is an important factor in making a country attractive to investors. (news.financializer.com). As reported in the news.

Bernie Sanders Vermont: Bill Clinton has been largely absent from the 2016 campaign trail, but Hillary Clinton presidential campaign insists the Sept. 17 fundraiser will not be an outlier, instead marking the beginning of the former president reappearance on the fundraising circuit, the aide said, according to CNN. The aide added the former president would appear at more fundraising events, but declined to provide dates. Bernie Sanders of Vermont is surging as he looks to topple Clinton front-runner status. Hillary Clinton has a full fundraising itinerary coming up, including several this week and seven more in California later this month, according to campaign aides, but her advisers believe she needs to start spending more time campaigning and less time raising money. The New York Times first reported Bill Clinton scheduled appearance at the fundraiser. That could open up a path for Bill Clinton to play a larger role in the campaign fundraising operation. (news.financializer.com). As reported in the news.

: William Schoch claims Mr Palmer breached his employment contract, while he was working as chief financial officer on Palmer China First coal project and later at Palmer Hyatt Coolum resort, according to Nine News Australia. He told the Supreme Court that Mr Palmer offered him $5 million over five years in a phone call in 2011. A former friend and employee of Clive Palmer who is suing the mining magnate for $4.6 million over a pay dispute has been grilled by Palmer lawyer in court today. He said, ‘Bill, work for five years for $5 million, that a million-dollar salary a year,’ Mr Schoch said. Palmer lawyer asked whether Schoch strategy to solve the dispute was mind reading ."Is it the case that at no time… until after your employment was terminated.. did you ever speak to Clive about the million dollars a year Simon Cooper QC asked Shoch."No I didn’t," Mr Schoch told the court."He did not mention the salary arrangements were going to change as far as the million dollars a year."Mr Schoch employment contract offered a base salary of just $100,000 a year, so he amended the document to include plus bonus as agreed . Mr Palmer human resources staff laughed at the amendment, Mr Schoch told the court. And I said, ‘yes, great, thank you.’ However, Schoch could not explain to the court today why he did not ask Palmer about the unpaid money during his three years of employment. (news.financializer.com). As reported in the news.

Washington, D.C. Cheney: I know of no nation in history that has agreed to guarantee that the means of its own destruction will be in the hands of another nation, particularly one that is hostile, Cheney said during a 45-minute speech at the American Enterprise Institute in Washington, D.C. Cheney later added, Arming and funding Iran while simultaneously providing them a pathway to nuclear arsenal is not an act of peace, according to MSNBC. It not, as President Obama claims, the only alternative to war. He argued on Tuesday that the deal will give the Middle Eastern nation the means to launch a nuclear attack on the United States. It is madness. The demonstrator was escorted out of the event, with Cheney simply saying thank you very much and returning back to his prepared remarks. * Protester interrupts Dick Cheney during speech on Iran deal* His scathing criticism, however, comes as 41 Senate Democrats announced they will back the deal — enough votes to block the Senate from passing a GOP-backed resolution to knock it down. Cheney was interrupted by a protester early in his speech who started shouting You were wrong in Iraq and Dick Cheney is a war criminal. (news.financializer.com). As reported in the news.

: The S&P 500 gained 48.19 points, or 2.51 percent, to 1,969.41, according to Xinhua China. The Nasdaq Composite Index spiked 128.01 points, or 2.73 percent, to 4,811.93. The Dow Jones Industrial Average jumped 390.30 points, or 2.42 percent, to 16,492.68. U.S. stocks witnessed sharp losses the previous week, with the main indexes notching their second-worst weekly decline in 2015. U.S. traders were cheered by gains in China stock market Tuesday. Some analysts said investors were in a buying mood again after the sell-off, as the stabilization in global stock markets soothed anxious investors. (news.financializer.com). As reported in the news.

: The S&P 500 gained 48.19 points, or 2.51 percent, to 1,969.41, according to Xinhua China. The Nasdaq Composite Index spiked 128.01 points, or 2.73 percent, to 4,811.93. The Dow Jones Industrial Average jumped 390.30 points, or 2.42 percent, to 16,492.68. U.S. stocks witnessed sharp losses the previous week, with the main indexes notching their second-worst weekly decline in 2015. U.S. traders were cheered by gains in China stock market Tuesday. Some analysts said investors were in a buying mood again after the sell-off, as the stabilization in global stock markets soothed anxious investors. (news.financializer.com). As reported in the news.

: The decline in real incomes for Russians has continued for the 10 months since November 2014, according to The Moscow Times. The Economic Development Ministry estimates that real wages could fall by 9.8 percent in ruble terms in 2015 as compared to the previous year. According to a study by Bank of America Merrill Lynch, real annual wages during the first half of 2015 were lower in Russia than China and Mexico . That represents a 33 percent drop in dollar terms from the 2014 real annual wage in Russia of $839.7. The ministry expects wages to begin rising by the first quarter of 2016, and for salaries to rebound to 2014 levels only as late as 2018. In theory, the current situation should give Russia a significant competitive advantage in the global market by prompting investors to switch their attention away from the slowing Chinese economy where labor prices are rising and move their production facilities to this country and take advantage of the cheap labor available. Cheap labor is an important factor in making a country attractive to investors. (news.financializer.com). As reported in the news.

: Bill Clinton has been largely absent from the 2016 campaign trail, but Hillary Clinton presidential campaign insists the Sept. 17 fundraiser will not be an outlier, instead marking the beginning of the former president reappearance on the fundraising circuit, the aide said, according to CNN. The aide added the former president would appear at more fundraising events, but declined to provide dates. Bernie Sanders of Vermont is surging as he looks to topple Clinton front-runner status. Hillary Clinton has a full fundraising itinerary coming up, including several this week and seven more in California later this month, according to campaign aides, but her advisers believe she needs to start spending more time campaigning and less time raising money. The New York Times first reported Bill Clinton scheduled appearance at the fundraiser. That could open up a path for Bill Clinton to play a larger role in the campaign fundraising operation. (news.financializer.com). As reported in the news.

Spain: With eight of 10 matches played, Spain lead on 21 points, two ahead of Slovakia after they were held to a 0-0 draw at home by Ukraine, who are a further three points behind in third, according to The Guardian. The nine group winners and runners-up, and best third-placed side, qualify directly for the finals in France, while the eight remaining third-placed teams contest playoffs for the last four spots. Juan Mata was the architect of the only goal in the eighth minute when his hopeful cross from the right evaded the flapping Tome Pacovski then cannoned off the far post and back on to the head of the Macedonia goalkeeper and into the net. Chasing a third consecutive European Championship triumph, Spain can make sure of their place with a home win over Luxembourg on 9 October. Mata said: They were aggressive and put a lot of intensity into the game. They play in Ukraine three days later. (news.financializer.com). As reported in the news.

massive explosion: Julian Evans-Pritchard of Capital Economics predicted that trade growth would improve over the next few months because August figures were hit by disruption from a massive explosion at the busy Tianjin port and government enforced factory shutdowns in the run-up to a huge military parade in Beijing last week, according to Asahi Shimbun. But the trade data along with other recent weak indicators will add further pressure on China communist leaders as they try to keep the economy from slowing too fast and shedding too many jobs. Customs data posted online Sept. 8 showed that shipments of goods last month shrank 5.5 percent in dollar terms compared with a year earlier while imports tumbled by 13.8 percent. China legions of export-oriented manufacturers have powered the country remarkable economic ascent but growth is stalling amid waning global demand. The latest numbers come after a larger-than-expected 8.3 percent decline in July exports and a slew of other recent downbeat data on factory purchasing, retail sales, investment and industrial production. The manufacturing industry woes are compounded by Beijing efforts to guide the economy away from trade and investment toward growth based on slower, self-sustaining domestic consumption. (news.financializer.com). As reported in the news.

auto repair shops: It the same in Seoul, according to CNN. Here are three areas of the South Korean capital currently surfing a tide of online hashtags. Yesterday happening hoods are soon gentrified and saturated with corporate opportunists, pushing scenesters elsewhere. Seongsu Zagmachi is a cafe and exhibition space housed in a former printing factory. For years, the area near Seongsu station was a warehouse zone with auto repair shops and shoe-making workshops. Acknowledged as a hot spot by local media and circling real estate investors, Seongsu -- the area around the Seoul Forest, Ttukseom and Seongsu subway stations -- encompasses a knot of fashionable restaurants and stores as well as a cluster of art spaces and cafes. (news.financializer.com). As reported in the news.

: Gold settled lower as U.S. stocks traded sharply higher Tuesday, when Wall Street tried to rebound after a long weekend, according to Xinhua China. The rally of European stocks also gave gold additional pressure. The most active gold contract for December delivery lost 0.40 U.S. dollar, or 0.04 percent, to settle at 1,121.00 dollars per ounce. On Tuesday, French stock market index went up 1.07 pct, the FTSE 100 Index, the benchmark for London Stock Exchange, added 1.18 percent, while the benchmark DAX index at Frankfurt Stock Exchange also settled higher. On Friday, gold futures ended lower after a key U.S. jobs report, which said employers added 173,000 workers in August, which is at Bloomberg low-end estimate of consensus, while unemployment rate fell to 5.1 percent, the lowest since April 2008, with average hourly earnings up 0.3 percent. On Monday, the market was closed for the U.S. Labor Day holiday. (news.financializer.com). As reported in the news.

: Two 1-0 wins over Malta and Bulgaria extended their unbeaten run in qualifying matches to 48 games but, despite their consummate record, Antonio Conte side look far from complete, according to The Guardian. With two matches left to play – at home to Norway and away to Azerbaijan – Italy sit atop Group H with progress to next summer finals in France all but assured. The results were positive; the performances, not so much. Yet on Monday morning, the Italian papers espoused more a feeling of relief than of potential continental supremacy. Two steps forward, heaved La Gazzetta dello Sport. It almost done, groaned Tuttosport. (news.financializer.com). As reported in the news.

Circuit breaker: The mechanism could only be triggered once a day, according to The Guardian. Circuit breaker in both directions will be conducive to curbing excessive transactions and reining in market fluctuations, the draft from the securities regulator said. Related:Weak Chinese trade data fuels slowdown fears - business live According to draft regulation, trading would be suspended for 30 minutes when the market rose or fell by 5%. If the index went up or down by 7% or more, trading would be suspended for the day. It is the latest in a string of measures introduced by the Chinese authorities as they continue to grapple with wild fluctuations in the share market, which have fallen by 40% since June. Customs data showed that exports for August were down 6.1% but imports fell a whopping 14.3%, raising more questions about the strength of the country economy. There were more jitters on Tuesday after figures showed that China foreign trade dropped 9.7% in August. (news.financializer.com). As reported in the news.

: But the new announcement fleshes out what Clinton would do as president, according to MSNBC. It comes as Clinton has faced a tougher-than-expected challenge from Sen. Clinton has spoken out against the Supreme Court 2010 *Citizens United* decision, which dramatically loosened campaign finance laws, since the first days of her presidential campaign. Bernie Sanders, who promises to lead a revolution against Wall Street and billionaires’ influence over the political system. The aim is to bolster the importance of low-dollar donations. And even among Republicans, who have traditionally been more hostile to campaign finance reform, Donald Trump has gained traction by campaigning against the influence of money in politics. * The one thing Donald Trump isn’t wrong about* The centerpiece of Clinton new plan is a program to provide small-donor matching funds to presidential and congressional candidates. (news.financializer.com). As reported in the news.