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

The Japanese stock market: The Japanese stock market fluctuated wildly during the day, according to Asahi Shimbun. The benchmark Nikkei Stock Average rose sharply after the announcement and then plunged to a level below the previous day close before rebounding to end higher. The central bank announcement of the decision Jan. 29 stunned stock and currency markets. By having a negative interest rate, the BOJ charges the negative interest on the current account deposits of commercial banks. The move is aimed at encouraging commercial banks to use the money they keep in their current accounts at the central bank to expand their lending to businesses. In other words, commercial banks have to pay a kind of fee to keep their money at the central bank instead of receiving money on their deposits. (news.financializer.com). As reported in the news.

: The opinions expressed in this commentary are solely those of the author, according to CNN. The arc of history is bending backward, away from freedom and justice. Follow her @Frida Ghitis. It not what was supposed to happen, but it the troubling reality revealed in a new report from Freedom House. And 2015 marked the sharpest decline yet. The level and quality of freedom in the world has been eroding steadily over the past decade, the report suggests. (news.financializer.com). As reported in the news.

vultures: Just as a poor showing in the early-voting states may help winnow the presidential field, a poor fundraising performance will get the vultures circling, according to CNN. This is also the first chance in six months to find out who has been paying for the tens of millions of dollars of super PAC ads that have blanketed the country. The big reveal at this point in the race: cash on hand, which tells observers how much money the political action committees have to spend in states beyond Iowa and New Hampshire -- and whether they can run a national campaign. The groups can accept and spend unlimited amounts of cash, but federal election rules means we haven't seen the donor rolls since midsummer. It means that he is free from the corrupting influence of lobbyists and billionaires who treat their candidate as "puppets" -- but the claim as of October was not true: Trump has received millions of dollars in donations that are funding things like Trump hats and Trump T-shirts. Here are eight questions that could be answered this weekend: How much is Donald Trump spending on his own behalf Read More There have been few claims more fact-checked -- and unambiguously deemed incorrect -- than Trump frequent claim that he is "self-funding" his campaign. (news.financializer.com). As reported in the news.

hot button: The star found that discussions of his passion project inevitably turned to questions about the hot button topic of this year racially exclusive Oscar nominations, according to The Toronto Star. For the second year in a row, not a single actor of colour received a nod. But his script was quickly rewritten. How do I feel about the Oscars controversy There a lot, said Cheadle, a 2005 best actor Oscar nominee for Hotel Rwanda. It about diversity and inclusion at the earliest level of this industry. It has to do with exclusivity; it has to do with glass ceilings. (news.financializer.com). As reported in the news.

Clinton emails: Clinton dismissed the move as an attempt to divert attention from his own campaign promises — including a Medicare-for-all health plan — which are attracting more criticism as he rises in the polls. * Clinton emails upgraded to ‘top secret’* That is a time-worn politician tactic, Clinton told Nightly News anchor Lester Holt, according to MSNBC. Clinton suggested that Sanders’ platform was based on unrealistic goals, and said she offered the opposite: the more clear agenda that can actually produce results for people who can’t wait. Clinton also accused Sanders of trying to go negative with ads accusing Wall Street of trying to buy off politicians — spots that didn’t name Clinton, but aired after she left Iowa Wednesday to raise money at a Philadelphia investment firm. The sharpened rhetoric reflects an increasingly competitive race in the final stretch in Iowa. In New Hampshire, home of the campaign second primary, Sanders is leading 57 percent to 38 percent. The latest NBC News/Wall Street Journal/Marist Poll of likely Democratic primary voters shows Clinton leading Sanders 48 percent to 45 percent, a statistical dead heat. (news.financializer.com). As reported in the news.

demonstrators: Around 30 anti-nuclear activists and local residents shouted anti-nuclear slogans in cold weather and steady rain immediately after Kansai Electric Power Co. rebooted the reactor at 5 p.m. that day, according to Asahi Shimbun. But in contrast to the demonstrators’ concerns, local business operators in Takahama voiced their support for restarting the reactor. Demonstrators gathered outside, while others cited the economic benefits of bringing it back online. They said that the town, which has a population of 11,000, has relied heavily on revenue from hosting the nuclear plant for decades and could not sustain its economy without it. I hope that the restart helps bring a brisk business climate back to this town, he said. I totally welcome the reactor resumption, said Yoichi Shimojima, a 53-year-old taxi driver, adding that his business saw a drop in client numbers after all reactors at the plant went offline for periodic safety checks in February 2012. (news.financializer.com). As reported in the news.

Swiss bank accounts: Swiss prosecutors said the misappropriated money was intended for the "economic and social development of Malaysia." Authorities discovered a "small portion" of the funds has been transferred to Swiss bank accounts of Malaysian and United Arab Emirates officials, according to CNN. The affected Malaysian corporations have not yet commented on the suspected losses. The findings follow an investigation into the 1 Malaysia Development Berhad , a state-owned fund formed in 2009 to invest in property, infrastructure and energy projects. The Swiss government is requesting legal compliance from Malaysia in order to confirm that the money is missing. Malaysia Prime Minister Najib Razak, who founded and is the chair of 1MDB, was accused of siphoning money from the investment fund recently after RM2.6 billion was transferred into his accounts. Read More CNN has reached out to 1MDB for comment on the accusations. (news.financializer.com). As reported in the news.

Malaysian companies: Related:Decision to clear Malaysian prime minister 'impossible' to overturn A small portion of the cash was transferred into Swiss accounts held by former Malaysian officials as well as current and former officials from the United Arab Emirates, the Swiss attorney general office said in a statement, according to The Guardian. To date, however, the Malaysian companies concerned have made no comment on the losses they are believed to have incurred, prosecutors added. Swiss investigators said they believed around US$4bn had been stolen from Malaysian state-owned companies, funding that was earmarked for economic and social development projects in Malaysia. The object of the request for mutual assistance is therefore to advise the companies and the Malaysian government of the results of the Swiss criminal proceedings, with the aim of finding out whether losses on this scale have been sustained. The attorney general office said the assistance request was made as part of criminal proceedings opened in August 2015 against two former officials of Malaysian state-owned fund 1MDB and persons unknown . They are suspected of bribing foreign officials, misconduct in a public office, money laundering and criminal mismanagement. In September, authorities announced the freezing of tens of millions of dollars worth of assets held in Swiss accounts as part of the investigation. (news.financializer.com). As reported in the news.

Radionova: She led all the way, scoring a total of 215.45 points, with Radionova and Pogorilaya having to settle for silver and bronze, respectively, for a second straight year, according to The Japan Times. The Moscow schoolgirl has taken the senior circuit by storm this season after winning the world junior title last year. The 16-year-old took her first European gold ahead of teammates Elena Radionova, 17, and Anna Pogorilaya, 17, after the free skate. Medvedeva won the prestigious Grand Prix Final in December where she achieved the third best overall score in history of 224.54. Russia women have been starring in recent international competitions, with Friday podium sweep their second consecutive. She then went on to win the Russian national title ahead of Olympic champion Adelina Sotnikova and reigning world and European champion Elizaveta Tuktamysheva. (news.financializer.com). As reported in the news.

criminal offences: It said it had identified four cases of alleged criminal conduct. 1MDB, whose advisory board is chaired by Malaysian Prime Minister Najib Razak, has been probed by Malaysian authorities following accusations of financial mismanagement and graft, according to Euro News. Earlier this week, Malaysia attorney general cleared Najib himself of any criminal offences or corruption, declaring that $681 million deposited into his personal bank account was a gift from Saudi Arabia Royal family. The office of Swiss Attorney General Michael Lauber said it had formally asked Malaysia to help with its probes into possible violations of Swiss laws related to bribery of foreign officials, misconduct in public office, money laundering and criminal mismanagement at the fund. The Malaysian attorney general office said in a statement on Saturday it would take all possible steps to follow up and collaborate with its Swiss counterpart, but noted that the investigations into donations made to Najib were entirely separate from those into 1MDB. Najib has consistently denied any wrongdoing, saying the funds were a political donation and he did not take any money for personal gain. It added that each case involved a systematic course of action carried out by means of complex financial structures . 1MDB said it has not been contacted by foreign legal authorities on any matters relating to the company. In its statement seeking Malaysia assistance, the Swiss attorney general office said: The monies believed to have been misappropriated would have been earmarked for investment in economic and social development projects in Malaysia. (news.financializer.com). As reported in the news.

: That the surprisingly good news to emerge from my survey of the several hundred stock market timers monitored by the Hulbert Financial Digest, according to Market Watch. While not every top timer is bullish, just as not every terrible timer is bearish, the contrast between their average recommendations is stark. CHAPEL HILL, N.C. — The stock market timers with the best records are bullish, on balance, while those with the worst records are bearish. The difference is even more noteworthy in that it exists regardless of whether the time period over which I measure their performances is as short as the past 12 months or as long as 20 years. The accompanying table reports the data. In short: The best are bullish, and the worst are not. (news.financializer.com). As reported in the news.

negative territory: The good news is, those assessments were a little too pessimistic, according to MSNBC. The bad news is, economic growth is far short of what we’d like to see. Several forecasts raised the specter of a flat report – an economy that is neither growing nor contracting – and some even suggested GDP would slip into negative territory. The American economy barely grew last quarter, finishing the year much as it had started and stoking concern about its momentum in 2016. Some of this is the result of a sharp drop in oil prices, which affects business investment, and economic troubles abroad, most notably China, which affects domestic trade. Overall, the economy expanded at an annual rate of just 0.7 percent in the fourth quarter of 2015, the Commerce Department said Friday. (news.financializer.com). As reported in the news.

financial community: Oil prices, which slumped to just $27 a barrel a fortnight ago, stood at $34, up 40 cents on the day, according to The Guardian. Yet the reverse is true. Watching world stock markets rally after the Bank of Japan cut interest rates gave a sense of relief to many in the financial community. If anything, investors are worried that governments and central banks have failed to realise how weak the global economy still is, seven years after the crash. When a central bank shows that it understands cheap money – in the form of lower interest rates – is a necessary underpinning for investment and growth, investors cheer. Dangerous levels of private debt in China, bad debts lurking in Europe banking system, nervous consumers everywhere: it a nuclear device that needs careful handling. (news.financializer.com). As reported in the news.

private consumption: Bank of Japan Governor Haruhiko Kuroda, often lambasted for staying pat on policy for too long while maintaining unrealistic reflationary targets, yet conversely no stranger to shocking markets when needs must, has consistently maintained he plans to eliminate what he has described as a "deflationary mindset" in Japan, particular regarding business spending, but also private consumption, which account for around 60 percent of Japan gross domestic product, according to Xinhua China. The bank said Friday it plans to achieve its inflation target "at the earliest possible time," amid turbulent oil prices, the protected slump of which has impacted prices here, and voted to apply a negative interest rate of minus 0.1 percent to current accounts held by financial institutions, in a narrow 5-4 vote by its policy board members. The BOJ surprised markets here, with economists widely believing further easing measures announced Friday would be negligible if at all, by saying it plans to introduce a negative interest rate from Feb. 16, as falling oil prices have hampered the bank reflationary efforts, with the shock move aimed at proactively defending against global economic malaise denting business sentiment here. The central bank policy board also decided the bank will further cut the interest rate below minus "as deemed necessary." "The BOJ will cut the interest rate further into negative territory if judged as necessary," the bank said in a statement following its unexpected decision Friday. I thought they had ruled them out due to the risk of side effects," Hideo Kumano, chief economist at Dai-ichi Life Research Institute, was quoted as saying. While the European Central Bank has already plunged into negative interest rates, with President Mario Draghi last week intimating that more stimulus will follow in March from the bank to hit its inflation target, the BOJ initially maintained it was reluctant to follow suit. "This is a scary, dramatic move, and we may see the more negative yields will be, the better the economy gets. (news.financializer.com). As reported in the news.

Republican candidates: There was the good, the bad and the Ben Carson, according to MSNBC. The retired neurosurgeon had a rocky night, to put it generously. On Thursday night, the top tier Republican 2016 candidates faced off in the shadow of the ubiquitous GOP front-runner, and while they probably did little to blunt his momentum in the early voting states of Iowa and New Hampshire, it was clear the candidates relished their moment to shine. Meanwhile, Jeb Bush pushed back against the low energy label and Sens. But what are people who watched the debate talking about this morning Here are the debates most head-scratching moments: * How to win a debate by not showing up* * Putin is a one-horse country * Putin is a one-horse country — Emma Roller January 29, 2016 Voters who might be perturbed by Carson lack of foreign policy knowledge and experience probably received little comfort from his word salad response to a question on how to handle Russian aggression abroad and its controversial president Vladimir Putin. Marco Rubio and Ted Cruz got into their customary testy exchanges. (news.financializer.com). As reported in the news.

stock market investors: It closed 2.8 per cent higher, according to The Toronto Star. The Japanese yen slid, with the U.S. dollar rising to about 120.70 yen from about 118.50 earlier in the day. The surprise move rattled stock market investors, with the Nikkei 225 index swinging between gains and losses after the announcement. The central bank said it is imposing a 0.1 per cent fee on some new commercial bank deposits with the BOJ, effectively a negative interest rate. The BOJ said in statement that Japan economy is still recovering, but risks from volatile global financial markets could undermine confidence and slow progress toward the central bank 2 per cent inflation target. It hopes that will encourage commercial banks to lend more, rather than keeping cash at the BOJ, and stimulate investment and growth in the world third-largest economy. (news.financializer.com). As reported in the news.

scientific studies: I've written before about how I simply don't get how we in the United States remain so squeamish about breast-feeding -- and how despite all the research that 'breast is best,' many U.S. hospitals are still not providing women with breast-feeding support, according to CNN. If we know -- based on actual scientific studies -- that breast-feeding can provide health benefits to mother and baby, why aren't we doing everything we possibly can to make it easier and more socially acceptable for women who choose to breast-feed Maybe a new two-part comprehensive report published Thursday in the medical journal The Lancet and billed as the largest and most detailed analysis of the existing research on breast-feeding around the world will help bring about change in the United States and globally. Read her other columns, and follow her reports at CNN Parents and on Twitter. More than 1,300 studies were reviewed, including some commissioned specifically for this report, which focused on the levels, trends and benefits of breast-feeding. Based on new estimates produced for the report, dramatically scaling up breast-feeding to near-universal levels for infants and young children could save 820,000 children lives a year around the world, preventing 13% of all deaths of children under five. "Breast milk acts as a baby first vaccine to help fight disease and illness," said Dr. Think of the health implications alone. (news.financializer.com). As reported in the news.

Quay: He guaranteed US gas giant Chevron remained committed to constructing a multi-million dollar tower at the Quay, despite deferring the development for two years."Individuals might change their mind to what they do but Chevron will build their tower, there absolutely no doubt about that," Mr Barnett said, according to Nine News Australia. The Premier said the Ritz Carlton hotel development would be the first private project to begin construction at Elizabeth Quay this April. Colin Barnett said the quay would become a driving factor in improving WA tourism and boosting new industries, despite no construction having begun at the surrounding lots reserved for private development."It is not only a new face to Perth and connects Perth city to the river, this will be a meeting place for all West Australians and a destination for tourists," Mr Barnett told ABC Local Radio on Friday. The premier said the $440 million project had already exceeded his expectations."People will just delight in Elizabeth Quay. He said Elizabeth Quay would pay for itself several times over in coming years, creating thousands of permanent jobs."We will recover more than half of that in land sales and if you then look into the future in terms of stamp duty and land taxes and council rates paid."Thousands of locals are expected to flood the new waterfront precinct on Friday afternoon, where laser, light and water shows are planned to kick off three weeks of celebration.© AAP 2016Western Australia Send your photos, videos and stories to can remain anonymous. I'm sure there will be some who don't like it but I think they'll be very much in the minority," he said."I think it a great investment in our future and I think it adds to the quality of life for all West Australians."Mr Barnett confirmed provisions had been made to the design of Elizabeth Quay, allowing for a cable car to be constructed, linking the CBD to Kings Park, but said it would in all likelihood need to be privately funded. (news.financializer.com). As reported in the news.

capitalist economics: There is little to no appetite for simply critiquing capitalism let alone altering its fundamentally destructive dynamics, according to The Toronto Star. The fact that 10 per cent of the world adult population owns a staggering 88 per cent of the world assets, according the Credit Suisse Policy Institute 2015 Global Wealth Report, receives only a passing notice in financial and public news media. Don’t hold your breath. We have long ago accepted gross inequality as the hallmark of capitalist economics. As Barton notes, the deep reform required is to change how we view business value and its role in society. As long as unbridled greed drives free enterprise nothing will change. (news.financializer.com). As reported in the news.

Italy Spain Mexico: ENTICING TOURIST DESTINATION Traditionally, foreign visitors to Cuba come mainly from Canada , followed by Germany, France, the United Kingdom, Italy and Spain, according to Xinhua China. Mexico ranked sixth, leading Latin American countries. The tourism industry, Cuba second largest foreign revenue earner following the export of health services, has achieved a 17.4 percent rise in foreign visitors to a record 3,524,779 in 2015. The situation is changing, as more Americans have taken advantage of their country warmer bilateral relations with Cuba and more relaxed travel restrictions to visit the Caribbean nation, located just 169 km from the Florida coast. Other nationalities are also rushing to visit the island, fearing a full-blown American onslaught will soon alter the country natural landscape with fast-food franchises and chain convenience stores. It estimated that 145,000 Americans visited the island in 2015, an increase of 79 percent over the previous year, and the trend is expected to keep up this year. (news.financializer.com). As reported in the news.

CFM International: Live video supplied by Boeing showed the smooth take-off at 9:46 a.m. and landing at about 12:33 p.m, according to Euro News. The plane is the fourth version of the original 737, which made its first flight in 1967 and has become one of Boeing most profitable aircraft. The smooth flight of the new aircraft marks another step toward scheduled delivery to airlines in 2017. The 737 MAX features new engines from CFM International, a joint venture of General Electric and Safran SA of France, and other refinements that improve fuel efficiency by 14 percent compared with the current generation 737. Boeing is expected to deliver its first 737 MAX to customers in 2017. Boeing has sold 3,072 of the planes and is racing to sell more as it battles for market share against rival Airbus competing A320neo, which earlier this month was delivered to its first customer, Lufthansa. (news.financializer.com). As reported in the news.

economic region: Its member states grew from six to 10 and today include Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, according to The Japan Times. As identified by ASEAN leaders, 2015 is a key milestone on the ASEAN integration agenda. It has been transformed into an increasingly well-regulated, dynamic and the world fastest-developing economic region. On Dec. 31, ASEAN became the official ASEAN Economic Community . Now the AEC is the third-largest market — behind only China and India — in the world with a population of 622 million. ASEAN is a world-class investment destination that attracted foreign direct investment of $136 billion in 2014. In terms of economy, the AEC is a highly competitive economic region with a combined GDP of $2.6 trillion, the seventh-largest economy in the world and the third largest in Asia. (news.financializer.com). As reported in the news.

Deutsche Bank AG: In Japan property market, bearish investors now exceed bulls for the first time since 2008, according to a survey by Tokyo-based NLI Research Institute published this week, according to The Japan Times. This will be the year when the quiet property bubble collapses, Deutsche Bank Otani said in an interview in Tokyo. Deutsche Bank AG Yoji Otani said prices benefited from Abe monetary easing and are poised to fall as government policies are faltering, joining analysts and economists at Mizuho Financial Group Inc. and Fujitsu Research Institute in forecasting declines. Both 2016 and 2017 are likely to be severe years for the property market. Real estate investors are becoming more skeptical about gains in Japanese property after declines in global stocks and commodity prices triggered losses at sovereign wealth funds, traditionally big investors in property, and buyers have become more risk averse. The inflation outlook for Japan has worsened as consumer prices have stagnated for the past year at close to zero and the six-year-old global economic recovery is showing signs of decelerating. (news.financializer.com). As reported in the news.

Headline inflation: Headline inflation, the main indicator watched by the ECB, rose to 0.4 percent from 0.2 percent while core inflation, which strips out volatile food and energy prices, rose to 1 percent from 0.9 percent, reversing the previous month fall, according to Euro News. Don’t be fooled by today rise in euro area inflation, it was affected by base effects that will likely be more than reversed in February, Nordea economist Jan von Gerich said. Inflation has hovered near zero for more than a year, well short of the central bank near 2 percent target, and ECB President Mario Draghi has already said another package of policy easing could be unveiled as soon as March. The recent bounce in oil prices is of limited consolation for the ECB, as inflation expectations have not seen a similar rise, he added. Indeed, Jens Weidmann, the Bundesbank influential president warned on Thursday that inflation forecasts for this year must be significantly reduced and numbers could turn negative in the months ahead. More monetary stimulus will be in store in March. (news.financializer.com). As reported in the news.

: Bis zu 40 Prozent haben die Aktien italienischer Banken seit Jahresbeginn an Wert verloren, according to Deutsche Welle. Rund 17 Prozent aller Kredite sind nach Berechnungen der Europäischen Bankenaufsicht EPA faul, es drohen Ausfälle in Höhe von 200 Milliarden Euro, das ist der höchste Stand seit 20 Jahren. Die gewaltige Schieflage des italienischen Bankensystems kann er damit nicht gemeint haben. Das Problem beträfe nicht nur den Bankensektor selbst, sondern lähme die gesamte italienische Wirtschaft, sagt Jörg Krämer, Chefvolkswirt der Commerzbank. Genauer: viele Bad Banks - für jedes angeschlagene Institut eine. Auch die lockere Geldpolitik der Europäischen Zentralbank, die eigentlich die Kreditbedingungen in den Krisenländern verbessern soll, verpuffe dann wirkungslos. "Wenn Banken selbst auf vielen faulen Krediten sitzen, dann verleihen sie auch kein Geld an Unternehmen", so Krämer zur DW. Viele Bad Banks Um das Problem in den Griff zu bekommen, hat sich Italien nach langen Verhandlungen mit der Europäischen Kommission darauf geeinigt, eine Bad Bank einzurichten. (news.financializer.com). As reported in the news.

Italy: And perhaps they'll also catch up on the state of Italy banking system, according to Deutsche Welle. It been known for years that Italy banks are carrying a lot of dead wood on their balance sheets. They'll have had much to discuss: European refugee policies, the Syrian war, relations with Russia. The ratio of non-performing loans as a proportion of banks' loan books was recently estimated at 17.5 percent for the banking system as a whole. As of 2015, two percent of the loans on the books of German banks were classed as impaired; France number was four, and Spain seven percent, according to Royal Bank of Scotland estimates. The level of bad loans burdening Italy bank balance sheets is much higher than in other major European countries. (news.financializer.com). As reported in the news.