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

currencies: The Dollar Index, which gauges the buck against a basket of 16 currencies, was recently down 0.5% at 87.51, its lowest level since Aug. 25. The slide came as the dollar notched steep losses against the euro, yen and a host of emerging market currencies. .., according to Wall Street Journal and The dollar fell against most currencies Thursday, as investors sold the U.S. currency following a dovish monetary policy statement from the Federal Reserve. (news.financializer.com). As reported in the news.

: The invitation to business delegates said: "As part of the Australian government plan to strengthen our economic opportunities and build broader relationships with key partners, the prime minister ... will be visiting Silicon Valley and a select high-level business delegation will accompany the prime minister."Foreign Minister Julie Bishop will represent the government at the UN talks, while Mr Turnbull puts the finishing touches to his frontbench and prime ministerial staff team, according to Nine News Australia. Mr Turnbull won't make his first overseas trip as leader until later in the year. Before his ousting on Monday, Mr Abbott had planned to go to San Francisco next week with a technology business delegation, before heading to New York for the United Nations general assembly. The former technology company executive wants to put innovative industry front and centre of his government economic plan. Opposition communications spokesman Jason Clare said it was a worrying step."The fact that Malcolm Turnbull has cancelled this high-level trade mission to the world top technology companies shows he is all talk and no action when it comes to building Australia digital future," Mr Clare said."If Malcolm Turnbull is serious about creating the jobs of the future, he should agree to implement Bill Shorten plan to introduce the teaching of coding and computational thinking in all Australian schools."Parliamentary secretary for communications Paul Fletcher told ABC television the new prime minister had a clear economic vision."The rise of Asia is a major trend, and another big trend is digital disruption which is affecting every industry," Mr Fletcher said on Thursday."That is something that Malcolm Turnbull in his personal experience has been very familiar with, as communications minister has been very engaged with it."© AAP 2015Politics Email your news tips Do you have any news photos or videos Career News: Seven signs your resume is just right - seek.com.au Property news: ten people you always see at auctions - realestate.com.au Career news: When your colleagues earn more than you - seek.com.au Property news: What home buyers are looking for this spring - realestate.com.au Career news: How to create a business plan in five steps - seeklearning.com.au As communications minister he visited Silicon Valley in 2014 where he spoke with many Australians working in the technology industry, as well as executives for Facebook, Google and other firms. (news.financializer.com). As reported in the news.

Minister Turnbull: Professor John Mendoza indicated he was optimistic Australia now had a leader who understood extra resources were needed to address the biggest cause of disability in the country. "I think now with Malcolm Turnbull assuming the role of Prime Minister he understands this issue, he had a lot of direct briefings from people in the know," he said. "He played a direct role in reducing the suicides in his own electorate. "So I think Prime Minister Turnbull understands, not nearly from the personal impact of poor mental health and suicide, but he understands the economics of it. "And if we're going to lift the economic performance of the country then one of the places we have to start is improving access to quality mental health care because it is one of the biggest drags on the nation productivity at present." Professor Mendoza said mental health was responsible for a quarter of all disability nationally with depression, anxiety and substance abuse listed as the most common disorders. "One in five Australians every year will experience a clinical level of need in relation to a mental health condition," he said. "So it common and it causes the greatest burden of disability — that means it accounts for more years of life lost to disability than any other cause. "And yet we have this amazing deficit — a huge gap — in terms of the funding for mental health." Crowd funding campaign to 'build awareness', drive investment Professor Mendoza is a key supporter of a crowd funding campaign launched recently called Australians for Mental Health, according to Australian Broadcasting Corporation. He is hopeful it will raise a "substantial amount" of money to advocate for better government funding. Related Story: Turnbull keeps same-sex marriage, climate change policies Related Story: R U OK and World Suicide Prevention days aim to help stem the tide Map: QLD The man who resigned as head of the National Advisory Council on Mental Health over frustrations with the Rudd government has expressed renewed hope the sector will get more attention under new Prime Minister Malcolm Turnbull. Volunteers share personal battles Twelve young people who found solace in the Black Dog Institute when they were battling their own demons share their stories in the hopes of helping others. "But also to build the community awareness about ... the consequences of this inadequate investment in mental health." Professor Mendoza was hopeful it could be as successful as the breast cancer campaign that started about 20 years ago and had seen a drop in the number of deaths. "And the beginnings of that were very much based around community awareness and advocacy and we've seen that to the point of footballers running around with pink socks, pink jerseys," he said. "All really in a sense raising awareness but also advocating that we get research dollars, that we get the services that are necessary to further reduce ... the number of deaths. "And in a similar way — by having this sort of initiative in relation to mental health — you know not even necessarily a large amount of money but enough money to keep the community engaged on this issue and through that get political action." Be a part of the audience Register to join ABC News and 612 ABC Brisbane for the Heads Up free community forum on Friday, September 18 at ABC Brisbane headquarters. Topics:mental-health, federal-government, community-and-society, qld, australia First posted September 17, 2015 11:05:49 More stories from Queensland noindex (news.financializer.com). As reported in the news.

: The price of oil rose 6 per cent overnight, boosting energy stocks, according to Australian Broadcasting Corporation. Woodside rose 90 cents to $30, while Oil Search lifted 15 cents to $7.58 and Santos was up 11 cents to $5.00. The All Ordinaries finished the day at 5171, rising 47 points, while the benchmark ASX 200 lifted the same amount to 5,146. In the mining sector, Rio Tinto rose 70 cents to $52.01, while BHP was up 68 cents to $24.65. Elsewhere across the market, stocks in Blackmores went gangbusters, lifting $6.80 to $136.80 - 300 per cent higher than at the start of this year. The banks did reasonably well with CBA lifting 18 cents to $75.53, Westpac up 25 cents to $31.32, ANZ up 30 cents to $28.18 and NAB up 40 cents to $30.91. (news.financializer.com). As reported in the news.

: On Monday "a resolution was issued to ban Italian citizen Silvio Berlusconi from entering the territory of Ukraine for the duration of three years in the interests of preserving the security of our country" Apostrophe quoted the SBU security service as saying, according to The Moscow Times. The SBU could not immediately be reached for comment. Earlier in September, Berlusconi became the most prominent Western politician to visit Russian-annexed Crimea, where he met Russian President Vladimir Putin, an old friend, in a move unlikely to have been welcomed by Kiev. A spokeswoman for Berlusconi had no immediate comment. The takeover drove relations between Moscow and the West to their lowest point since the Cold War era, and prompted the United States and European Union to slap economic sanctions on Russia. Few Western public figures have visited Crimea since Russia seized it from Ukraine in March 2014. (news.financializer.com). As reported in the news.

: It could be viewed as the GFC being officially over, according to Nine News Australia. Other economists have gone cold on the idea of an imminent move given concerns over the Chinese economy. All eyes are on the US Federal Reserve - its two-day meeting will conclude in the early hours of Friday . Markets expect the central bank of the world largest economy to flag its first interest rate raise since the 2008-09 global financial crisis."We anticipate the most likely timing of that move will in fact be at this meeting ... which potentially will see some more volatility in global markets," Westpac senior economist Andrew Hanlan told reporters in Canberra on Thursday. A new report by the Organisation for Economic Cooperation and Development warns global growth prospects have weakened in recent months. Reserve Bank governor Glenn Stevens will be questioned on the implications for Australia - from both the actions of the Federal Reserve and China outlook - when he faces the House of Representatives economics committee on Friday. It says the slowdown in Chinese demand is significant, especially for countries with a big exposure. (news.financializer.com). As reported in the news.

: SABMiller said it was told by AB InBev about its plans for a takeover, with AB InBev saying it wants to work with the board of SABMiller toward a recommended transaction, according to The Toronto Star. The acquisition of SABMiller would be the biggest in the industry history and cap more than a decade of consolidation across brewing companies. No offer has yet been made. A potential combination of the beermakers had been seen as likely for years as they have limited geographical overlap and are not controlled by a family foundation like their main competitors, Heineken NV and Carlsberg A/S. I’m glad to see this after the endless speculation of megabrew, said Ross Colbert, an analyst at Rabobank International.SABMiller shares were up 22 per cent at 3,665 pence as of 1:02 p.m. in London. Before today, SABMiller stock had fallen 18 per cent in a year. Any offer from AB InBev would have to be valued at at least 3,900 pence, or about 30 per cent above Tuesday closing price, according to Trevor Stirling, an analyst at Sanford C. Bernstein. (news.financializer.com). As reported in the news.

: He also working on a new frontbench line-up, with new ministers set to be sworn in on Monday, according to Nine News Australia. Liberal senator Arthur Sinodinos said regaining the trust of voters was a key job for Mr Turnbull in the wake of Tony Abbott ousting. Mr Turnbull on Wednesday signed a deal with NSW and Victoria to fund the national disability insurance scheme and introduced laws on the China free trade deal and multinational tax avoidance. He expected to return to the ministry under the new leader he strongly backed."What we want is boring, competent predictable government," Senator Sinodinos told Sky News. Mr Turnbull spent part of his first full working day in the top job talking to Senate crossbenchers and taking a phone call from US President Barack Obama congratulating him. He expects Mr Turnbull will soon turn his attention to tax reform, including superannuation and the GST, to come up with a coherent package to take to the next election. (news.financializer.com). As reported in the news.

Alexandre Alexander: Federal Police and investigators from the Australian Securities and Investments Commission arrested Alexandre Alexander when his flight landed in Sydney this morning, according to Australian Broadcasting Corporation. Alexander, 48, who is also known as Alexandre Dergouchine, has been charged with four counts of making false and misleading statements to the Australian Securities Exchange between October 2013 and March 2014. Map: Sydney 2000 The former head of Australian-based mining company Kimberley Diamonds has been arrested at Sydney Airport, accused of misleading the stock market. Each charge carries a maximum penalty of five years' jail and a $34,000 fine. Between March 2013 and May 2014, Kimberley Diamonds tried to negotiate an increase in the price of the yellow diamonds it sold to the luxury jewellery retailer Tiffany & Co. ASIC is alleging Alexander authorised market statements, which failed to disclose the fact that Kimberley Diamonds assumed it would obtain a 30 per cent increase in the price of its rare fancy yellow diamonds. (news.financializer.com). As reported in the news.

Copenhagen summit: Pope Francis has championed climate action as a moral imperative, while investors representing $25 trillion have publicly backed the move to a low-carbon economy, according to The Toronto Star. But even as momentum for an agreement builds, concern has emerged that after years of failed climate talks – particularly the Copenhagen summit in 2009 – the world is once again setting itself up for disappointment. The cost of renewable energy has fallen dramatically and King Coal has lost its century-long throne. Risk of failure is real, Francois Hollande, president of host country France, warned journalists last week as he announced the official summit countdown. The French are trying to ratchet down expectations, said Runnalls, who after 20 years of attending UN climate conferences remains optimistic that Paris will be different. David Runnalls, a visiting professor at the University of Ottawa Institute of the Environment, said the big worry is that Paris will be Copenhagen redux. (news.financializer.com). As reported in the news.

Chris Jordan: Treasurer Joe Hockey held a joint press conference with the Tax Commissioner, Chris Jordan, to provide an update on the Government foreign real estate investor crackdown and its new legislation to restrict corporate tax minimisation, according to Australian Broadcasting Corporation. The properties now under investigation have a total value of more than $1 billion, according to Mr Hockey, who said he has already signed several further divestment orders for properties ranging in value from $265,000 to $8.1 million. Map: Australia The Australian Taxation Office is investigating over 500 property purchases by foreign buyers, including multi-million-dollar homes purchased by students with no income, while the Federal Government has also introduced legislation to limit tax avoidance by multinational firms. The latest properties that will be sold under the crackdown are located in Queensland, New South Wales, Western Australia and South Australia, and are owned by people from Singapore, Indonesia, the UK and China. Earlier this year the Federal Government announced greater enforcement of existing rules that limit the type of property that non-residents can buy, as well as introducing tougher penalties for breaches. The owners have twelve months to complete the sales. (news.financializer.com). As reported in the news.

working days: Under an oil pricing policy in place since the start of 2013, the NDRC can adjust the price every 10 working days based on changes in the global market, should the change be more than 50 yuan per tonne, according to Xinhua China. Although global oil prices have been under pressure from slowing demand in China, a robust appetite from the United States, weakening U.S. dollar, along with the recovering U.S. stock market have helped support prices. Retail price of gasoline and diesel will both rise by 90 yuan per tonne, or 0.07 yuan per liter and 0.08 yuan per liter, respectively. (news.financializer.com). As reported in the news.

Great Barrier Reef: His comments follow a warning in June by Environment Minister Steven Miles who said owners of dilapidated resorts on the Great Barrier Reef could have their leases cancelled if the properties were not spruced up, according to Australian Broadcasting Corporation. Topics:state-parliament, parliament, government-and-politics, qld First posted September 16, 2015 10:50:13 More stories from Queensland noindex Mr Pitt told a business function in Brisbane this morning that a lower Australian dollar made the resorts a good investment. "We want to see anyone who will actually look at them, refresh them, rebrand them," he said. "I think it well-canvassed that while people are still providing some of the best service in the world, some of the architecture on those things is slightly out of date. "That to me is a great opportunity to really help kick along the tourism story in Queensland." Mr Pitt said there was a lot of interest overseas, reminiscent of the 1980s when Japanese investors in particular were involved in local tourism destinations. (news.financializer.com). As reported in the news.

Hokkaido Kishida: Kishida was initially scheduled to make the trip late last month, but it was postponed to protest a visit by Russian Prime Minister Dmitry Medvedev to the disputed Northern Territories off Hokkaido, according to Asahi Shimbun. Kishida visit underscores the importance that Prime Minister Shinzo Abe has placed on continuing dialogue with Russia. The two governments are in the final stage of coordinating Kishida visit, sources said. Abe called Medvedev visit to Etorofu island, part of the Northern Territories, highly regrettable. Other topics include the territories dispute and economic cooperation. Kishida is expected to stay in Moscow through Sept. 23 and meet with his Russian counterpart Sergey Lavrov, and Igor Shuvalov, first deputy prime minister, to discuss Japan invitation for Putin visit this year. (news.financializer.com). As reported in the news.

: The plans include bringing back many of Wonderland most popular features, including rollercoasters The Bush Beast and The Demon, according to Nine News Australia. The joint venture redevelopment will be split into two phases, with the $1 billion investment spread over five years. Ammar Khan, a western Sydney businessman who has spearheaded the revival since 2009, has joined with multinational Fox Petroleum to revive the park most popular features, including rollercoasters The Bush Beast and The Demon and Hanna Barbera Land. The first phase of development includes building an entertainment hub, with plans for a wildlife park, water park, cinemas, restaurants and a multi-themed 'boulevard' of hotels. The consortium declined to comment about where the new Wonderland site will be built, with a proposal to be formally submitted to the NSW Government "soon". Ammar Khan. The second phase includes the development of sporting venues, live music and a convention centre. (news.financializer.com). As reported in the news.

real estate: Sotheby says sales gains are expected to be highest in the over $4 million category in the Toronto and Vancouver areas this fall, although higher sales volumes are expected in the $1 million to $4 million range, as well, according to The Toronto Star. The realtor lists increased demand from international investors alongside limited inventory, historically low interest rates and heightened consumer confidence as the factors expected to fuel sales growth in Canada two hottest real estate markets. The realtor predicts that sales of homes worth over $1 million will rise in Toronto and Vancouver, while Montreal luxury market should be balanced and Calgary will slow due to the effects of declining crude prices. In Calgary — where the luxury real estate market turned down in the first half of the year due to lower oil prices and a dip in consumer confidence — sales likely will continue to decline. Meanwhile, volatility on the global stock markets is expected to lead to an influx of international buyers looking to snatch up top-tier Canadian homes — particularly buyers from China, where the economy has shown signs that it is slowing. Sotheby says performance in Calgary high-end housing market, which saw several years of record-breaking sales, is tied inextricably to the state of the oil and gas industry which, in turn, has an affect on employment and migration. (news.financializer.com). As reported in the news.

: The Toto Museum whisks visitors through the history of Japan toilets, and the 950 items on display show how these private rooms and their particular furniture have evolved in Japanese homes, according to Asahi Shimbun. Visitors to the new facility, operated by leading sanitary ware manufacturer Toto Ltd., first view a replica of Japan first Western-style toilet developed in 1914, which is smaller in size than more recent toilet bowls. Douglas Mac Arthur may have sat upon are some of the star attractions at an unusual museum in this Kyushu city. As few Japanese used such ceramic toilets at that time, sales of Toto products were initially sluggish so the company made plates, coffee cups and other tableware, some of which are also exhibited at the museum including a massive dish one meter in diameter. Initially it was known as Toyo Toki Co. when it became independent from its parent company in 1917. Toto started as the sanitary ware department of Nippon Toki Gomei Kaisha , which was established in Aichi Prefecture in 1904. (news.financializer.com). As reported in the news.

financial crisis: The U.S. economy is expected to expand 2.4 percent in 2015 before rising to 2.6 percent a year after as "rising employment and household consumption are driving solid growth in the United States, but investment continues to disappoint," the think-tank said, calling on the country central bank to raise its benchmark rates, the first increase since 2008 financial crisis. "The U.S. Federal Reserve will soon need to begin to raise its policy rate at a gradual pace, given the solid growth of the U.S. economy and concerns over asset prices, according to Xinhua China. The timing of the first rate rise will make little difference to the outcome, but the pace of increase does matter," the OECD said. According to the latest Economic Outlook released by the Paris-based organization, the world economy would grow by 3 percent this year and 3.6 percent in 2016, down from 3.1 percent and 3.8 percent from a previous projection. Growth across the eurozone was projected at 1.6 percent this year and 1.9 percent next year as Germany was leading expectations of growth. As for France, which is struggling to put growth on recovery track, will see a 1 percent rise for the whole year of 2015 followed by a 1.4 percent rebound in the next year, below the government target percent. Its economy was set at 1.6 percent in 2015, unchanged from previous estimate. (news.financializer.com). As reported in the news.

: China has overlapping claims with Vietnam, the Philippines, Malaysia, Taiwan and Brunei in the South China Sea, according to Asahi Shimbun. It is also embroiled in a row with Japan over a group of East China Sea islets. The agreement between Japanese Prime Minister Shinzo Abe and Vietnam Communist Party chief Nguyen Phu Trong comes after a U.S. expert said on Sept. 14 China appeared to be carrying out preparatory work for a third airstrip in contested territory in the South China Sea. Earlier this year, Japan reached an agreement with Malaysia and the Philippines to strengthen security ties. "I find it highly meaningful that we have shared serious concerns over the continuation of unilateral behaviors that change the status quo and escalate tensions, such as large-scale reclamation and building of outposts in the South China Sea," Abe told a joint news conference, without naming China. On the economic front, Japan decided to extend 28.6 billion yen in official development assistance to Vietnam for building a general hospital in Ho Chi Minh City. Japan also agreed to provide more used ships to Vietnam, in addition to six it already supplies to help with maritime patrols. "We shared understanding that all the disputes should be resolved through peaceful means, using international law including the U.N. Convention on the Law of the Sea," Trong said through an interpreter. (news.financializer.com). As reported in the news.

: That putting pressure on an industry whose employee count is at the highest since 2007, and where about a third of the country 85 brokerages posted losses in the first quarter, according to Business Week. As the Borsa Istanbul 100 Index heads for its worst year since 2011, financial institutions are starting to make cuts at their Turkish businesses. Now, foreign investors, the biggest holders of Turkish stocks, are fleeing the nation assets at the fastest pace on record. Austria Erste Group Bank is eliminating jobs at its unprofitable brokerage unit, people with knowledge of the matter said in June, while Moscow Renaissance Capital plans to shut its Istanbul office and move Turkish coverage to Dubai and London. While the head of Turkey Capital Markets Board insists this is just a temporary blip ahead of November elections, traders in Turkish stocks say there are just too many brokerages. The local brokerage of Kuwait Burgan Bank SAK has also cut employee numbers by 20. (news.financializer.com). As reported in the news.

Ben Carson: After all, when you’re an outsider and have the momentum, you can’t afford to lose it, according to MSNBC. And if you lose it, you usually don’t get it back. The first sub-debate is among the outsiders Donald Trump, Ben Carson, and Carly Fiorina, who all need momentum to continue feeding off the 2016 beast . Yes, Trump is likely to be the center of attention again, but Carson and Fiorina have extra pressure to deliver. The second sub-debate is among the insider/establishment Republicans – Jeb Bush, Scott Walker, Marco Rubio, Chris Christie, even John Kasich. Why Going after Jeb might be an easier path to prove your conservative bona fides than standing toe-to-toe with The Donald. **** Expect a rough night for John Boehner and Mitch McConnell*: Here another prediction about tomorrow night: It going to a rough debate for House Speaker John Boehner and Senate Majority Leader Mitch McConnell. Bush and Walker, in particular, are fighting to regain momentum . Don’t be surprised if some of these insiders decide to target Jeb instead of Trump. (news.financializer.com). As reported in the news.

: He said Queensland recorded a $4.4 billion, or 11 per cent, rise in visitor spending in last 12 months, and that before the dollar even began to fall, according to Nine News Australia. Mr Pitt also predicted the weakening dollar would attract more international visitors to Queensland and encourage more local tourists to travel domestically.© AAP your news tips Do you have any news photos or videos Career News: Ten ways to reach your definition of success - seeklearning.com.au Property news: NRL finals battle of the suburbs - realestate.com.au Career news: Why happiness at work matters - news: What renters are looking for this spring - news: Malcolm Turnbull, from Point Piper to The Lodge - realestate.com.au Treasurer Curtis Pitt says now is the best time for investors, both local and foreign, to partner resort owners or acquire properties to refresh and rebrand them."Whilst people are still providing some of the best services in the world, some of the architecture in those things is slightly out of date, and I think there always an opportunity in that," Mr Pitt told a BDO business breakfast in Brisbane. (news.financializer.com). As reported in the news.

: Since then it has been downhill all the way, reflecting the turmoil in the eurozone and then the slowdown in China, the world economic engine room, according to The Guardian. This year prices have flatlined. Not since the oil price-induced spike in 2011, which sent petrol and gas costs spiralling, have consumers suffered such a sustained attack on their living standards. And the lack of energising forces in the world economy look like keeping prices flat for some time. That a long way from the $107 West Texas Intermediate crude hit in June 2014. Goldman Sachs said last week the oil price could fall to $20 a barrel from the near $45 a barrel it currently commands. (news.financializer.com). As reported in the news.

: Economists and investors are split on whether a U.S. rate increase is in the cards when the Federal Market Open Committee concludes its regular meeting on Thursday, according to The Toronto Star. The benchmark Fed funds rate has been at 0.25 per cent since December 2008. Though not a sure bet, a U.S. interest rate hike this week – the first in nearly seven years - would signal the world largest economy is back in business That would be good news for Canada, helping drive higher exports, economists said. The U.S. economy is strong enough to allow them to step away from emergency low interest rate levels, said Jennifer Lee, senior economist with BMO Capital Markets. The U.S. unemployment rate has fallen to 5.1 per cent, new home construction and auto sales are up. On the other hand, given the weakness in emerging markets, it wouldn’t come as a complete shock if they decided to hang back a little bit. (news.financializer.com). As reported in the news.

: Financial markets have been zigzagging with anxiety as investors have tried to divine whether the Fed will start phasing out the period of extraordinarily low borrowing rates it launched at a time of crisis in 2008, according to MSNBC. With the job market now considered essentially recovered from the Great Recession, many economists say it time to start edging toward normal rates. Unless they don’t. Others argue that many other factors – from a sharply slowing China to the tumult in markets to persistently less-than-optimal inflation – raise serious concerns. It kind of wild that we still don’t know what they are going to do so close to the meeting. They say the Fed should wait, until later this year or even until 2016. (news.financializer.com). As reported in the news.

: Economists and investors are split on whether a U.S. rate increase is in the cards when the Federal Market Open Committee concludes its regular meeting on Thursday, according to The Toronto Star. The benchmark Fed funds rate has been at 0.25 per cent since December 2008. Though not a sure bet, a U.S. interest rate hike this week – the first in nearly seven years - would signal the world largest economy is back in business That would be good news for Canada, helping drive higher exports, economists said. The U.S. economy is strong enough to allow them to step away from emergency low interest rate levels, said Jennifer Lee, senior economist with BMO Capital Markets. The U.S. unemployment rate has fallen to 5.1 per cent, new home construction and auto sales are up. On the other hand, given the weakness in emerging markets, it wouldn’t come as a complete shock if they decided to hang back a little bit. (news.financializer.com). As reported in the news.