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

state purchases: Imports into Russia from CIS countries were worth $119 million, 21 percent less than in 2014, the statement said, according to The Moscow Times. Meanwhile, the volume of antibiotics imported into Russia decreased by 2.6 percent in 2015 to $84.2 million, according to the Federal Customs Service. The import of drugs to Russia from outside the former Soviet Union dropped 32.9 percent to $6.7 billion. In December, Prime Minister Dmitry Medvedev signed a decree limiting state purchases of foreign-made drugs. According to the decree — aimed at reducing reliance on Western goods — foreign companies are banned from participating in tenders if there are at least two entries from Russia or members of the Eurasian Economic Union. (news.financializer.com). As reported in the news.

: He also said a million jobs and a million school places for refugees in bordering countries would be created, according to Xinhua China. He said the money would provide millions with "life-saving" food, medical care and shelter, the BBC reported. (news.financializer.com). As reported in the news.

growth profile: At least seven brokerages downgraded the stock from buy to hold or their equivalents, saying the company lofty valuation was no longer justified, according to The Guardian. With a lower growth profile, we believe that Linked In should not enjoy the premium multiple it has grown accustomed to, Mizuho Securities USA Inc analysts wrote in a note. The stock sank to a three-year low of $110.01 in early trading, registering its sharpest decline since the company high-profile public listing in 2011. Mizuho downgraded the stock to neutral and slashed its target price to $150 from $258. At least 22 brokerages cut their price targets on the stock, with RBC slashing its target by almost half to $156. Raymond James, Cowen and Co, BMO Capital Markets, JP Morgan Securities, RBC Capital Markets and Suntrust Robinson also downgraded the stock. (news.financializer.com). As reported in the news.

Russian state news: Igor Konashenkov was quoted by Russian state news agency Ria Novosti as saying Moscow believes some activity on the Turkish side of the border with Syria indicates preparations for an incursion. "The signs of hidden preparation of Turkish armed forces for activities in the territory of Syria we notice more and more," the general said, according to CNN. When asked about the Russian claim at a media briefing, John Kirby, a spokesman for the U.S. State Department, said: "I'm not certainly not going to get up here and speak to what the Turks are doing on that border on any given day." Read More "We continue to work with Turkey, who is an important partner in this coalition to try to go after inside Syria."Russia openly joined the civil war in September, backing the forces of Syrian President Bashar al-Assad with airstrikes. Gen. Russia lost one plane and one of its pilots in November when a Turkish F-16 shot the jet down. After the shootdown, Russia imposed a series of economic sanctions on Turkey, banning the import of some goods, imposing restrictions on travel, barring some Turkish companies from doing business in Russia and suspending a $12 billion gas pipeline project between the nations. The two nations have argued over whether the warplane was over Turkey or Syria. (news.financializer.com). As reported in the news.

Dow Jones Industrial Average: The S&P 500 shed 35.43 points, or 1.85 percent, to 1,880.02, according to Xinhua China. The Nasdaq Composite Index slumped 146.42 points, or 3.25 percent, to 4,363.14. The Dow Jones Industrial Average dropped 211.75 points, or 1.29 percent, to 16,204.83. The U.S. Department of Labor reported Friday that total nonfarm payroll employment rose by 151,000 in January, well below market expectation of 188,000. In January, average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents to 25.39 U.S. dollars, beating market estimates. The unemployment rate, however, edged down to 4.9 percent in January, dipping below 5 percent for the first time since 2008. (news.financializer.com). As reported in the news.

Southwest Airlines: In recent weeks, Bombardier has lost out on key orders, including United Airlines, which has been looking at Bombardier CSeries jet, as did Southwest Airlines, according to The Toronto Star. Both chose Boeing for new orders. Bombardier Class B shares closed at 80 cents, down 7 cents, on Friday, losing more than 40 per cent so far this year. Iran Air placed a 118-aircraft order with Airbus, and also ordered 40 turboprop planes from ATR, an Italian-French joint venture. Iran had been under global sanctions over its nuclear program, but last month the United Nations said Iran had met the terms of a deal, and some countries quickly lifted their sanctions. ATR planes compete with Bombardier Q400, which is assembled in Downsview. (news.financializer.com). As reported in the news.

: On Thursday, the key market gauge fell 146.26 points, according to The Japan Times. The Topix index of all first-section issues closed down 19.84 points, or 1.43 percent, at 1,368.97, after losing 17.46 points the previous day. The 225-issue Nikkei slumped 225.40 points, or 1.32 percent, to end at 16,819.59, its first finish below the 17,000 line since Jan. 26. The Tokyo market got off to a weaker start, dragged down by losses in export-oriented issues, such as automakers, due to the yen strengthening against the dollar. In the afternoon, stocks accelerated their downswing in line with the yen further rise, briefly pushing the Nikkei average down more than 400 points. Concerns over deteriorated earnings at such companies were fueled by the dollar fall below 117 yen, brokers said. (news.financializer.com). As reported in the news.

net profit: The world top automaker reported that group net profit rose 9.2 percent in the nine months from a year earlier to ¥1.89 trillion, and operating profit grew 9.0 percent to ¥2.31 trillion on sales of ¥21.43 trillion, up 6.5 percent and another record, according to The Japan Times. Expectations have been really high for Toyota, Koji Endo, an analyst with Advanced Research Japan, said by phone. Analysts say the results mean the auto giant is still on track to become the first Japanese company to top ¥3 trillion in annual operating profit. Even if their profit has to come down next year, their profitability will still be their second-highest anyway. Toyota revised its outlook for net profit upward for the year through March 31 to ¥2.27 trillion from an earlier estimate of ¥2.25 trillion, a 4.4 percent increase on the previous year. The U.S. market is very strong and the Chinese market seems to be recovering. (news.financializer.com). As reported in the news.

stock market: U.S. companies added 151,000 workers, and there were two bits of good news: Average hourly wages rose by 0.5%, and the unemployment rate fell to 4.9% for the first time since February 2008, according to Market Watch. Retailers and restaurants, buoyed by strong consumer spending, hired 105,000 bodies, and even supposedly slumping manufacturers took on 29,000 after a slack 2015. That will keep on being the stock market narrative, regardless of Friday January employment report. For investors, the question is straightforward: Are you a Trump or an Obama This question is about temperament, not politics. Or the tendency to argue the Federal Reserve is stoking inflation, gold is the only asset to own, there a junk-bond crisis brewing , that debt in China and Brazil will lead the U.S. economy over a cliff, and so on. Trump, in this telling, is a metaphor for the tendency in politics to turn a number of U.S. Ebola cases countable on your hands to a pandemic that, if not really moving markets, at least causes lots of discussion in them. (news.financializer.com). As reported in the news.

jobs: The economy added 151,000 jobs in January, which fell below economists’ expectations, but the unemployment rate declined to its lowest reading in eight years, according to Market Watch. But as the day wore on, investors appeared to take a more negative view of the jobs report, and demand for Treasurys increased. Prices had fallen early in the day, pushing yields higher, following news that the pace of hiring in the U.S. slowed in January, even as wages rose sharply. Treasury yields and prices move in opposite directions, rising when prices fall and vice versa. Over the week, the benchmark yield lost around 9 basis points. Read:Four reasons the January jobs report is fishy The yield on the 10-year Treasury note TMUBMUSD10Y, +0.00% the Treasury market benchmark closed down 1.8 basis point at 1.846%, its lowest level since April 3. (news.financializer.com). As reported in the news.

state refund: Zuma had previosly said he did not owe the state a refund, according to Deutsche Welle. Earlier this week, he said he would allow the country auditor general and finance ministry to determine how much he should pay back. In an independent investigation, Public Prosecutor Thuli Madonsela said Zuma unduely benefited in the state-funded upgrade and recommended he pays back part of the fund. Zuma private home Upgrades is about 216 million rand The upgrades to Zuma home included a football pitch and a pool which security authorities insisted was a necessary measure for fighting fires at the estate. EFF and the main opposition party, Democratic Alliance , approached the country constitutional court to press for corruption charges against President Zuma. Last year, a mass brawl erupted in parliament after a member of an opposition party interrupted Zuma state of the nation speech with chants for him to "pay back the money." Zuma must go The slogan 'Zuma must pay' is dominating the agenda of the opposition Economic Freedom Fighter party led by firebrand politician and stark Zuma critic Julius Malema. (news.financializer.com). As reported in the news.

share price index: And the Australian share market looks set to open lower after mixed performances in world stocks in a chopping trading sessions and as oil pared earlier gains, according to Nine News Australia. At 0645 AEDT on Friday, the share price index was down 32 points at - Orders to US factories fell sharply in December, closing out a year in which demand for American manufactured goods retreated for the first time in six years. At 0700 AEDT on Friday, the local unit was trading at 72.03 US cents, up from 71.72 cents on Thursday. WASHINGTON - US productivity fell sharply in the final three months of 2015, closing out a fifth straight year of weak gains in worker efficiency. FRANKFURT - Europe top economic authorities warned of dangers to the region economy amid slower growth in China, weaker global trade and heightened geopolitical uncertainties. WASHINGTON - More Americans sought unemployment benefits last week, but applications stayed near historically low levels in a positive sign for the job market. (news.financializer.com). As reported in the news.

Bill Clinton: I think in history, she is attempting to be the only person not an incumbent president ever to win in New Hampshire against someone who running from a bordering state, Bill Clinton said on Monday, a line he been using for a while now, according to MSNBC. For her part, Hillary Clinton noted on Monday that New Hampshire always favors neighbors. Bernie Sanders is from next-door Vermont. This is an obvious and understandable effort to lower the bar, with Sanders leading comfortably in New Hampshire polling and the Clinton team bracing for a potential defeat next Tuesday. Yes, it likely that Sanders’ status as a Vermonter offers him some boost in New Hampshire. But as talking points go, it also a bit misleading. (news.financializer.com). As reported in the news.

China currency: The move aims to improve the convertibility of China currency, the yuan, in the capital account and facilitate cross-border investment and financing, the SAFE said, according to Xinhua China. The yuan is convertible for trade purposes under the current account, while the capital account, which covers portfolio investment and borrowing, is still largely controlled by the state over concerns of abrupt capital flows in and out of the country. China relaxed investment quotas for single institutions under QFII programs and allowed for more convenient capital flow, according a new policy released by the State Administration of Foreign Exchange . The rules became effective on Wednesday. To gradually open the capital account, the government introduced the QFII and RMB-denominated Qualified Foreign Institutional Investors programs in 2003 and 2011 respectively. (news.financializer.com). As reported in the news.

Stanford University: The opinions expressed in this commentary are solely those of the author, according to CNN. The new Playboy, on stands this week, is different from the old Playboy in one regard: No more nudity. And the strategy is already working Peggy Drexler is the author of "Our Fathers, Ourselves: Daughters, Fathers, and the Changing American Family" and "Raising Boys Without Men." She is an assistant professor of psychology at Weill Medical College of Cornell University and a former gender scholar at Stanford University. A return to civility A coup for feminism Hardly. And, sure, millennial men have been described as fairly feminist-minded: Research from Bentley University released last year found that millennial men and women share many of the same attitudes about female career success, while another study found that 73% of millennial men say they'd relocate for their wife job. When the 60-something-year-old magazine announced the new direction back in October, the move was explained as a means to increasing the magazine appeal to 20-and 30-something readers. (news.financializer.com). As reported in the news.

island: The agent marketing the property, Peter Stone, said one family has owned it since the 1970s, according to Australian Broadcasting Corporation. He said it was rare to have an island for sale, but the property was fraught with challenges. "It has no access, so the owners would have to consider flying in in their own chopper, or maybe buying a hovercraft, or something along those lines," Mr Stone said. "It got a couple of lean-tos that have been used, and there a water tank. "The council has given it a DA for the construction of one residence." Mr Stone said the island was undeveloped land, surrounded by the Bellinger and Kalang rivers, which made it prone to flooding. "It a very difficult exercise as far as convincing someone to spend $4 million dollars on an island in the middle of two rivers with no access," Mr Stone said. "However, if you look at where it is and what it is — and compared to having to fly in your own private jet to the Caribbean to an island — it really quite and extraordinary product." Photo: Urunga Island at the entrance to the Bellinger and Kalang rivers is up for sale. regional, urunga-2455, coffs-harbour-2450, port-macquarie-2444 More stories from New South Wales noindex If you look at where it is and what it is and compared to having to fly in your own private jet to the Caribbean to an island, it really quite and extraordinary product Peter Stone, Real Estate of Distinction The 134-hectare Urunga Island has a $4 million price tag. (news.financializer.com). As reported in the news.

: You feel their destructive power, according to The Toronto Star. You know people like you are being slammed, their lives upended. You hear the winds swirling around you deafeningly. But you’re too close to the action to see the whole picture. You feel lucky but vulnerable; resolute but apprehensive; concerned about colleagues who have lost their livelihood, but unwilling to walk away from the business. That what it like to be a working journalist in early 2016. (news.financializer.com). As reported in the news.

Scotia Wealth Management: The Canadian dollar was also higher for a second day, up 0.14 of a U.S. cent at 72.75 cents US after having soared 1.32 cents Wednesday in its biggest one-day gain in almost four years, according to The Toronto Star. In New York, the Dow Jones industrial average rose 79.92 points to 16,416.58, while the broader S&P 500 gained 2.92 points to 1,915.45 and the Nasdaq closed 5.32 points higher at 4,509.56. The S&P/TSX composite index climbed 181.48 points to 12,774.50, its second triple-digit increase in as many days. In commodities, the April gold bullion contract rose $16.20 to US$1,157.50 a troy ounce, while the March copper contract added four cents to US$2.13 a pound. Andrew Pyle, senior adviser and portfolio manager at Scotia Wealth Management, said the markets are beginning to stabilize following a tumultuous start to the year. Meanwhile the March oil contract, which enjoyed a big run-up of $2.40 a barrel Wednesday, gave back 56 cents to US$31.72, while March natural gas fell seven cents to US$1.97 per mm Btu. (news.financializer.com). As reported in the news.

influence: The announcement again places China under pressure from the U.S. and others to use its influence with Pyongyang to rein in its communist neighbor, despite Beijing protestations that such influence is overestimated, according to Asahi Shimbun. In Washington on Tuesday, top diplomat for East Asia Daniel Russel said a launch "would be an unmistakable slap in face to those who argue that you just need to show patience and dialogue with the North Koreans but not sanctions," in an apparent reference to China. Adding to the insult: North Korea launch window for what critics call a banned test of ballistic missile technology falls during the Lunar New Year, marring China most important seasonal holiday for many officials. Russel called for tough new sanctions, including what are believed to be a ban on selling the North oil or buying its minerals, excluding banks doing business with it from accessing the dollar-based economy, or even barring its flagship airline from entering other countries' airspace. China already appears to be dragging its feet on a response to North Korea purported first H-bomb test on Jan. 6. Those are exactly the sort of regime-destabilizing steps that China fears, and Beijing, a veto-wielding permanent member of the United Nations Security Council appears to be pushing back. (news.financializer.com). As reported in the news.

BCE Inc.: Those higher device costs obviously, in the end, get passed through to the consumer, said Cope, according to The Toronto Star. The loonie rose above 73 cents for the first time this year on Thursday morning after closing at 72.61 cents Wednesday. The Canadian dollar weakness — it does probably foreshadow some price increases from our manufacturers at some point, said George Cope on a conference call with analysts after BCE Inc. released its fourth-quarter results. It likely BCE has already tried to account for creeping costs as it pays for devices in U.S. dollars, said Dave Heger, a senior equity analyst at Edward Jones. Cope said the company implemented those increases mostly to help it make capital investments. Bell recently hiked prices on monthly contracts by $5 for new customers, and lowered savings for those signing new contracts who already own their own device. (news.financializer.com). As reported in the news.

Tadaaki Kumagai: The report triggered a market reaction before the board had even emerged from its closed-door meeting, according to The Japan Times. The yen went into a steep dive and there was a huge rally in stocks in Tokyo as investors cheered the BOJ newest thrust in a bid to kick-start the economy. A report Friday on the website of the Nikkei business daily posted minutes before the decision announcement said the BOJ Policy Board was considering setting a negative interest rate. We have started investigating the matter, said BOJ spokesman Tadaaki Kumagai. The Nikkei did not immediately comment on the investigation. We are interviewing BOJ officials who were in a position to know policy discussions and some government officials as they were also participating in the meeting, he added. (news.financializer.com). As reported in the news.

Europe: And the 43 billion euros in question would easily eclipse the total of 22 billion euros spent by Chinese investors in Europe throughout last year, according to Deutsche Welle. Chem China wasn't particularly inactive in 2015 either. If the transaction is completed, it would mark the biggest ever investment by a Chinese company in a European nation. For 7 billion euros, the company secured a share in Italian tire maker Pirelli, while shelling out an additional 1 billion euros for German machine tool company Krauss-Maffei. That nonsense! Chinese companies, however, are only doing their homework. Activities like these let some people shudder as they fear a complete buyout of the Western world. (news.financializer.com). As reported in the news.

: Ziel sei ein politischer Übergang in dem Bürgerkriegsland. "Wir senden aber ein klares Signal an die Bevölkerung in Syrien - wir stehen an Ihrer Seite", so der britische Premier, according to Deutsche Welle. Er forderte Russland auf, seinen Einfluss geltend zu machen, damit die Angriffe in Syrien beendet werden. Das teilte der britische Premierminister David Cameron nach der Syrien-Geberkonferenz in London mit. "Der heutige Erfolg bedeutet nicht die Lösung der Krise", sagte Cameron. Cameron mahnte: "Wir brauchen einen Waffenstillstand." Deutschland ist größter Geldgeber UN-Generalsekretär Ban Ki Moon sprach von einem großen Erfolg. Die Mittel gehen an internationale Organisationen. "Noch nie wurde so viel Geld an einem Tag für eine einzelne Krise gesammelt." Ursprünglich war angepeilt, rund sieben Milliarden Euro einzusammeln, um die Versorgung für Flüchtlinge aus dem Bürgerkriegsland sicherzustellen und die Region zu unterstützen. "Ein großer Erfolg": UN-Generalsekretär Ban Ki-moon auf der Geberkonferenz In London waren auf Einladung Deutschlands, Großbritanniens, Norwegens, Kuwaits und der Vereinten Nationen Vertreter aus fast 70 Staaten zusammengekommen. Die Hälfte des versprochenen Geldes werde bereits 2016 zur Verfügung gestellt. (news.financializer.com). As reported in the news.

: Institutions withdrew about 900 million Egyptian pounds in January, the most in almost four years, according to Bloomberg. The nation is reeling under a shortage of dollars since the Arab Spring revolt in 2011, often creating a backlog of funds that some investors are unable to repatriate instantaneously. But that failing to retain investor interest. Before it here, it on the Bloomberg Terminal. (news.financializer.com). As reported in the news.

emerging economies: Its stock price has fallen by a third since the start of 2016, according to Euro News. Thiam, who was hailed as a star strategist and Asia expert when he took over the bank in July, said he would stick with his plan to focus more on wealth management in emerging economies and cut costs in the investment bank, despite the turbulent start to markets this year. The shares fell more than 13 percent on Thursday to hit their lowest level since 1992 after Switzerland second-largest bank signalled a difficult start to the year. We have a clear strategy, clearly we are implementing it in difficult markets and our outlook for the first quarter remains very cautious, Thiam told an analyst call. very unique market conditions and they are challenging, but fundamentally we are maintaining the objectives and the targets we have presented . The bank aims to generate 9-10 billion Swiss francs in pretax profit by 2018, and Thiam said it could use extra cost cuts as well as revenue growth to hit the target. Four months on from when Thiam set out his strategy, many analysts are still unsure how Credit Suisse will hit growth targets, which include more than doubling Asia Pacific pretax income by 2018. Pretax profit at its core business shrank to just 88 million francs in 2015. (news.financializer.com). As reported in the news.

potential partners: Gou has asked for Sharp directors and banks to also join the meeting, though it not clear who will attend, said the person, according to The Japan Times. Sharp Chief Executive Officer Kozo Takahashi told reporters Thursday that neither of the potential partners is preferred over the other at this point, contradicting several media reports. Gou asked for the session Thursday after Sharp told investors it planned to keep negotiating for another month with both Foxconn and rival bidder Innovation Network Corp. of Japan, said the person, who asked not to be identified because the matter is private. Sharp board had earlier planned to make a decision on the day on its favored bailout partner, people familiar with the matter had said. The battle has drawn attention as a test case of Japan willingness to open its economy, following Prime Minister Shinzo Abe appeal for market reforms and overseas investments to boost growth. Both parties are on the same footing, Takahashi said. (news.financializer.com). As reported in the news.