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

king health: Here what to watch for, according to Nine News Australia. SHARE PRICES* Thai stocks slid after the Royal Palace announced that Bhumibol condition was unstable, the first time it had used that phrase regarding the king health.* On Wednesday the benchmark fell nearly 7 percent but ended down 4.1 percent. Now, after his death on Thursday at age 88, the outlook remains murky. The market could be roiled by a sell-off of assets by palace officials or other members of the political elite. It fell 1.1 percent on Wednesday and 0.2 percent on Thursday.* But such gyrations do not compare with the loss in the baht value caused by speculative attacks that triggered a region-wide financial crisis in 1997.ECONOMY ON EDGE* Bhumibol was a constitutional monarch with no formal political role, but was regarded as a unifying figure amid Thailand perennial political turmoil.* Many analysts expect the country to remain calm, as Thais focus on mourning. THAI BAHT* Thailand currency was trading at 35.69 baht to the U.S. dollar on Thursday. (news.financializer.com). As reported in the news.

parking: In November, Toronto executive committee is expected to consider the tax among a dozen new ways of bolstering the city bottom line, according to The Toronto Star. It not certain they will adopt any of the ideas.A parking levy of between 50 cents and $1.50 per day on every paid and unpaid parking spot could generate up to $575 million annually. By Tess Kalinowski Real Estate Reporter Thu., Oct. 13, 2016 Retailers will bear a disproportionate burden of a commercial parking levy effects if the city decides to implement such a revenue tool — and it will be small merchants that suffer most, says a coalition of real estate and business groups. But an Altus Group study for the Real Estate Industry Coalition says the tax would spell disaster for smaller shops, particularly those in suburban strip malls.A strip mall with 50 parking spots could face a $27,375 parking bill on top of the property taxes it already pays, says the report, to be released Thursday. That would require the store to generate $167,000 in additional sales, according to an estimate by the International Council of Shopping Centres, quoted in the Altus report. The average mall tenant would pay $10,000 a year on a 2,000-square-foot store if it was charged $1 a day per parking space. (news.financializer.com). As reported in the news.

mao zedong: Over the past 25 years, friendly relations between the two countries, based on the Five Principles of Peaceful Coexistence and mutual benefit, have witnessed remarkable progress and cooperation has been deepening in various areas, according to Global Times China. In 2010, China and Cambodia established a comprehensive strategic cooperative partnership, an upgraded version of bilateral ties. Hun Sen said China and Cambodia have enjoyed a traditional friendship that was cultivated by late Cambodian King Father Norodom Sihanouk, Mao Zedong , Zhou Enlai and other Chinese leaders of previous generations. In 2014, the two countries set up an intergovernmental coordinating committee and have successfully held three coordinating meetings resulting in important achievements. He noted that high-level leaders of China and Cambodia have maintained close contacts and exchanged visits in recent years, a reflection of their close relations, and that the two sides will continue to work together through a number of international bodies, including the United Nations, the Association of Southeast Asian Nations, the Asia-Europe Meeting and the Lancang-Mekong Cooperation group. Now the two sides are actively preparing for the fourth meeting, which is scheduled for the end of 2016 or early 2017 in Cambodia, Hun said. (news.financializer.com). As reported in the news.

p spx: The S&P 500 operating profit margins hit record levels in 2014 and have declined slightly since, according to Market Watch. Profit margin measures how much of every dollar in sales a company gets to keep in earnings. Don't look now, but declining profit margins may put a damper on those hopes. In other words, the more companies are able to control their costs, the higher their bottom line. Read:Earnings recession expected to extend to sixth straight quarter The earnings outlook for the S&P 500 SPX, +0.02% for the next year is fairly optimistic. If large U.S. corporations manage to beat earnings estimates by a few percentage points this time around, instead of the -2% projected decline we will see the first positive earnings growth in five quarters, and the first revenue growth since the end of 2014. (news.financializer.com). As reported in the news.

times thailand: King Bhumibol, who ascended the throne on June 9, 1946, was seen as a force for unity, and there have long been concerns that the political tensions that have riven Thailand over the past decade could worsen after his death, according to The Japan Times. That may be less likely under the regime of the leader of the most recent coup, Prime Minister Prayuth Chan-ocha. For the majority of the country 68 million people, the king was a pillar of stability in rapidly changing times — Thailand embraced industrialization during his reign but also saw its parliamentary democracy punctuated by 10 military coups, the most recent in May 2014. The former general has held a tight grip on power since toppling the remnants of Thailand last democratic government in 2014. Thailand has been divided for years between the royalist establishment and the red-shirted supporters of exiled former Prime Minister Thaksin Shinawatra, who was ousted in a 2006 coup. His Majesty has passed away at Siriraj Hospital peacefully, the palace said in a statement on Thursday, adding he died at 15:52. (news.financializer.com). As reported in the news.

topix index: On Wednesday, it fell 184.76 points, according to The Japan Times. The Topix index ended down 0.04 point at 1,342.31 after falling 14 points the previous day. The Nikkei average lost 65.76 points, or 0.39 percent, to finish at 16,774.24. The Tokyo market opened firmer thanks to the dollar rise above ¥104 on the back of heightened expectations for an interest rate hike by the U.S. Federal Reserve by the end of the year, brokers said. The Nikkei sank into negative territory toward the morning close and stayed there for the rest of the day. But stocks took a downturn around midmorning in tandem with the dollar, in the wake of Chinese trade figures for September that showed a sharp decline in exports. (news.financializer.com). As reported in the news.

trade growth: An economy currency fluctuations could have a mixed impact on trade growth due to cross-border cooperation along the global industrial value chain, undermining the boosting effects for exports, Huang added, according to Global Times China. China exports in yuan-denominated terms fell 5.6 percent year on year in September, while imports increased 2.2 percent, customs data showed Thursday. Chinese yuan depreciation might benefit domestic exporters, but would also raise the import costs of production materials as processing trade still remained a major part of of China trade pattern, said Huang Songping, spokesperson with the General Administration of Customs at a press conference. The Chinese yuan continued a weakening streak against the USdollar after the renminbi was officially included in the SDR currency basket on Oct.1. The entry would allow exporters to use the renminbi as a pricing currency during trade and cross-border investment and help reduce foreign exchange rate fluctuation risk and exchange costs, Huang said. (news.financializer.com). As reported in the news.

seed crop: But Wayne Crofts, managing director of distributer Heritage Seeds, said that was not the case. "In early winter one of our farmers who was growing our seed crop detected a case and once we investigated it, it was discovered that the crop contained endophyte in it," Mr Crofts said. "Endophytes occur naturally in some grass seeds, so sometimes they can be very positive for the pasture and sometimes they can have a negative impact. "There are fescues in Australia which have endophytes in them, and farmers do manage them accordingly to reduce the stocks risk or health risk." Farmers urged to contact distributer One hundred tonnes of stock has been sold mainly across New South Wales and Victoria, and some in Western and South Australia. "Through the product recall we've had a small amount of product returned to us, so we suspect most of product was sown earlier in the year, in autumn," Mr Crofts said. "Besides this one case that we've had with our seed grower crop, we haven't had any other cases reported to us." Photo: The grass, named after Barnaby Joyce, is described as "persistent" and "bred in New England". Up to 250 farmers have sown the seed. "There different risks depending on the stock," Mr Crofts said, according to Australian Broadcasting Corporation. He said it presented a risk to pregnancies in horses. "We are recommending that those farmers spray those paddocks out and actually sow it with another variety," Mr Crofts said. "When it comes to other livestock enterprises, like lamb or beef, we are suggesting people sow it out, because it does have the endophyte in it. "What it means is those plants might persist for longer, which means they last longer, and over time they could become a more dominant part of the pasture." Work has begun to remediate any paddocks already sown with the fescue. "We encourage all affected farmers to contact us, so we can work together on remediation plans tailored to the individual circumstances of each affected property, " Mr Crofts said. At the time of its release Barnaby Tall Fescue, or Barnaby Grass as it is more commonly known, was described as "persistent" and "bred in the New England". The fescue was meant to be free of edophytes — a fungus that lives naturally in a plant and can be toxic to grazing livestock. While clearly a serious matter, the Deputy PM himself has managed to find humour at his own expense. "Obviously it causes problems with sheep feet," he said. "I think there is probably another grass up at Nimbin that named after me. "You've just got to deal with these things." Topics:pasture, joyce-barnaby, rural, tamworth-2340 More stories from New South Wales noindex (news.financializer.com). As reported in the news.

singapore ministry: An Australian helpdesk in Singapore ministry of manpower will help the visa application and approval process, making it easier for Australian businesspeople and their families to live and work in Singapore, and for Australian companies looking to deploy staff there, according to Nine News Australia. Engineers and accountants would have their qualifications recognised by Singapore, with these professions to be given priority in the formal negotiations. The prime ministers signed an update to the 2003 Singapore-Australia free trade agreement during a visit by the Singapore leader to Canberra on Thursday."This is a big win for our services sector delivering greater access for engineers, accountants, financial planners, lawyers and education providers to sell their services to Singapore," Mr Turnbull later told parliament. Singapore will also recognise Australian tertiary qualifications, including juris doctor degrees, as well as those in allied health such as physiotherapy, occupation and speech therapy, from a number of Australian universities. The updated pact will also guarantee the free flow of data across borders for service suppliers and investors conducting business. Finance firms will be able to provide a range of services on cross-border deals with Singapore. (news.financializer.com). As reported in the news.

spending: The financial services industry is no different, according to The Guardian. We know 72% of millennials plan to focus their spending on experiences rather than big-ticket tangible goods, such as new cars. The 83 million or so members of this generation – a quarter of America population, the largest age cohort – have every facet of their lives studied by those who want to analyze their behavior, mostly in order to better sell them goods and services. Facebook has told us only 37% have a financial plan, although 86% save. Another survey found that only 20% believe they'll be able to retire at 65, possibly because 63% aren't saving. More than half told Fannie Mae that debt is stopping them from buying a home. (news.financializer.com). As reported in the news.

stock market: If the Los Angeles-based firm goes ahead with the flotation it will be the biggest technology IPO for years, and could pave the way for other bigger tech firms to go public, according to The Guardian. There are a string of mega unicorns companies, defined as those valued at more than $10bn, looking to realise their founders' and investors' wealth by floating on the stock market. Meet Snapchat 'dudeocracy' of talent Read more The company behind the app, which its 26-year-old founder Evan Spiegel created at his Stanford University fraternity house in 2011, is said to have appointed Wall Street banks Morgan Stanley and Goldman Sachs to lead its initial public offering on the New York stock exchange as early as March 2017. Among those waiting in the wings are Uber and Airbnb . The flotation of parent company Snap Inc, which was valued at $18bn at its last funding round, will be the largest social media IPO since Twitter floated in November 2013. The 140-character messaging company has been struggling to find itself a buyer as it fails to build revenue and grow its user base. Since then Twitter has suffered, with its shares falling from a high of $69 to $17.80 on Thursday. (news.financializer.com). As reported in the news.

world today: External Link: Peter Ryan speaks with Henderson Group chief executive Andrew Formica Speaking in Sydney, Mr Formica told The World Today he is more concerned about tighter regulation of funds in the wake of the global financial crisis than he is about Britain leaving the European Union, the rise of Donald Trump and the falling British pound, according to Australian Broadcasting Corporation. The merger, which is subject to investor and regulatory approval, will create a $US6 billion company and, between them, Henderson and Janus will have $US320 billion of assets under management. "The discussion on Brexit is not really relevant to this deal in the sense that conversations started back in February and carried on prior to the vote," Mr Formica said. "They weren't influenced by Brexit, they weren't accelerated or decelerated by Brexit," he said. "We're looking at something that you judge on a 10 to 15-year view and discussions around the EU and the UK really will be a drop in the ocean." Mr Formica is in Australia with proposed co-chief executive Dick Weil from Janus to promote the proposed deal to investors and institutions. Related Story: Could Brexit be the Trump card in the US election Map: Australia Henderson Group chief executive Andrew Formica has shrugged off concerns about Brexit and Donald Trump as he sells a multi-billion-dollar merger with the US funds management giant Janus to investors. Both will head Janus Henderson Global Investors in a deal billed as "a merger of equals". Mr Formica also said he was unconcerned about the falling value of the British pound against the US dollar and Brexit. "Regardless of what form the UK takes in Europe going forward, the UK market will be a large market for us as a firm, as will Europe," he said. "What happening with the pound, what happening with the UK economy was less relevant to this. The merger is important for both Henderson and Janus given anticipated cost savings of $US110 million per year. So being a truly global business helps us diversify against any one market or risk." Photo: Andrew Formica, chief executive of Henderson While Janus has deep exposure in the United States, Mr Formica is similarly unconcerned about Donald Trump tilt for the White House and that his threat to unwind trade agreements could destabilise financial markets. (news.financializer.com). As reported in the news.

blood: Blood tests show he has an infection and his liver is working irregularly, the royal household bureau said late on Wednesday, according to The Guardian. It added his blood pressure had lowered and his breath had quickened. As a week of national anxiety continued on Thursday over the fate of the 88-year-old King Bhumibol Adulyadej, Thais pored over a palace statement that said his condition had overall not yet stabilised , four days after it announced his condition had worsened. A government spokesman said Prayuth Chan-ocha returned from Chon Buri province to meet the king heir apparent Maha Vajiralongkorn, who had also flown back to Thailand from Germany. Vajiralongkorn was seen entering Bangkok Siriraj hospital on Wednesday afternoon, as hundreds of people gathered outside to pray for the king health. The spokesman said the meeting was a routine presentation on the government work in progress , although he also said the prime minister did not undertake his official duties in Chon Buri , suggesting a last-minute change of plan. (news.financializer.com). As reported in the news.

growth: The economy is outperforming most other advanced economies with a growth rate of 3.3 per cent, having now completed a quarter of a century of unbroken expansion, according to Nine News Australia. It comes at a time when an uncertain global economy is posting only subdued growth and with downside risk stacked against it. The prime minister is right. But the International Monetary Fund latest global forecasts suggest it doubts the Australian economy can keep its head above the three per cent rate for too long against that backdrop, meaning the jobless rate will be stuck around 5.7 per cent in 2017. Hardly the sign of a robust economy. National Australia Bank chief economist Alan Oster still expects a further two 0.25 per cent interest rate cuts by the Reserve Bank next year, taking the cash rate to just one per cent and even deeper into record low territory. (news.financializer.com). As reported in the news.

carbon tax: Wall said the climate change plan released this week by U.S. presidential candidate Hillary Clinton supports investments in energy efficiency, cleaner fuels and carbon capture, but does not include a carbon tax, according to The Toronto Star. When I take a look at Hillary Clinton climate change plan, I wish Justin Trudeau was a little more like Hillary Clinton, Wall said Wednesday. By Jennifer Graham The Canadian Press Wed., Oct. 12, 2016 REGINA—Saskatchewan Premier Brad Wall says Prime Minister Justin Trudeau should look south of the border before implementing a carbon tax in Canada. Her plan is very serious about battling climate change, I would say. The plan Trudeau announced last week calls for a $10 dollar per tonne tax on carbon starting in 2018, increasing to $50 dollars per tonne by 2022. She got a real focus on technology. (news.financializer.com). As reported in the news.

inghams: Its owners, the US private equity firm TPG, has indicated it will sell between 50 to 70 per cent of Inghams, according to Australian Broadcasting Corporation. Lodging the prospectus, Inghams has an indicative share price of between $3.57 and $4.14. Map: Sydney 2000 Australia largest poultry company Inghams will list on the Australian Stock Exchange in November, with the company value set between $1.3 and $1.5 billion. The company expects to raise between $767.6 million and $1.12 billion from investors. Peter Pedwell, the owner of industry magazine Poultry Digest, said it was the first time in decades that a major chicken company had floated on the stock exchange. "This will be the first time since Goodman Fielder owned Steggles, which merged into Baiada," he said. " It's the first time in about 25 years that we've had a publicly listed company as a major chicken supplier." TPG installed new management after it bought the business from Bob Ingham in June 2013. If it reaches this price, it will be the biggest share listing for 2016. (news.financializer.com). As reported in the news.

asian countries: By the end of 2015, China direct investment in South Asian countries stood at 12.29 billion US dollars, and South Asia investment in China was 890 million US dollars, according to data from the Ministry of Commerce . Last year, trade grew 4.9 percent from the previous year to 111.22 billion dollars between China and eight members under the South Asia Association for Regional Cooperation initiative -- including Nepal, India, Bangladesh, Bhutan, Pakistan, Sri Lanka, Maldives and Afghanistan -- according to the MOC. China inked contracts worth 21.28 billion US dollars with south Asian countries in 2015 mainly for power plants, communication and road projects, up 82.1 percent from the previous year, according to Global Times China. Chen Lijun, director of the Institute for South Asian Studies at the Yunnan Academy of Social Sciences, said China, and southeast and south Asian countries are now at different stages of development and there are a lot of ways in which they can complement each other. Home to nearly half of the global population, China and south Asia stood out amid the gloomy global economy each boasting an enviable growth rate of 6.9 percent last year. They must tap into each other comparative advantages to realize mutual beneficial opportunities and common prosperity, Chen said. China will establish free trade areas with those countries and increase imports from them, Wang said, adding that the country will support domestic companies to conduct production cooperation in South Asia to aid industrialization. Vice Premier Wang Yang said during the fourth China-South Asia Expo in June in Kunming, capital of southwest China Yunnan Province, that China was willing to enhance cooperation with countries in South Asia in the fields of customs, quality inspection, e-commerce and transportation. (news.financializer.com). As reported in the news.

bed-making cleaning: In return, the women worked three hours a day doing bed-making and cleaning, according to The Japan Times. The people arrested for allegedly having visitors with short-stay visas work illegally were identified as Manryo President Hiroshi Kozawa, 45, and workers Sven Balthasar, 32, from Luxembourg, and Michiko Nonami, 34. According to Hokkaido police, the three people from Tokyo-based Manryo Inc., which operates the Khaosan Sapporo Family Hostel, allegedly canceled a ¥2,000 accommodation fee per stay for at least two female tourists, from China and Malaysia. Nonami and Balthasar, both residing in Sapporo, are a married couple. The two female guests were arrested during a police raid on Tuesday. Kozawa told the police he thought the guests were helping out voluntarily. (news.financializer.com). As reported in the news.

chinese investment: Ahead of Xi visit, Global Times reporter Ma Jingjing interviewed Gao Hua, president of the Chinese Chamber of Commerce in Cambodia, on the status of Chinese investment in the country and prospects for bilateral economic cooperation, according to Global Times China. What the current state of Chinese investment in Cambodia Gao: China ranked first among foreign investors in Cambodia in 2015, with investment of $865 million. Photo: CFP Gao Hua Editor Note: Chinese President Xi Jinping is scheduled to visit Cambodia, Bangladesh and India from Thursday to Monday. Chinese companies invest in a wide range of sectors including infrastructure, agriculture and tourism. For example, Chinese companies have invested more than $1.6 billion to build six hydropower stations. In addition to private companies, many State-owned enterprises are rushing into Cambodia for investment. (news.financializer.com). As reported in the news.

dow jones: On Tuesday, the key market gauge jumped 164.67 points, marking its first finish above 17,000 since Sept. 7, according to The Japan Times. The Topix index of all first-section issues closed down 14.00 points, or 1.03 percent, at 1,342.35, after rising 5.74 points the previous trading day. The 225-issue Nikkei average gave up 184.76 points, or 1.09 percent, to end at 16,840.00. Selling took the upper hand from the outset, after the Dow Jones industrial average lost more than one percent on the New York Stock Exchange Tuesday. Investor sentiment was dampened further by a downturn in New York crude oil futures on reported remarks by Igor Sechin, president of major Russian oil company Rosneft, denying the possibility of the company immediately cutting or curbing oil production. The Wall Street plunge came as concerns over major U.S. firms' earnings were fueled by aluminum giant Alcoa announcement of its disappointing profit figures for July-September, brokers said. (news.financializer.com). As reported in the news.

investors recognise: Sustainable returns Chris Davis, senior programme director of the Ceres Investor Network on Climate Risk, another IIGCC member, agrees, according to The Guardian. A growing number of institutional investors recognise that climate change will impact their holdings, portfolios, and asset values in the short and long-term, he says. Vehicle makers must put climate change specialists on their boards, engage better with policy-makers, and invest more heavily in low-emission cars, says a network of 250 global investors with assets of more than $24tn . The demands come in a new report, Investor Expectations of Automotive Companies, published this week by the Institutional Investors Group on Climate Change . Long-term investors want to ensure that automotive companies are prepared for the challenges stemming from climate change, new technologies, changing policies and shifts in demand caused by global trends, says Dr Hans-Christoph Hirt, co-head of investment house Hermes EOS, a member of the IGCC. Plans for an electric car charging point in every new home in Europe Read more Investors expect the industry to embark upon a smoother route to future prosperity by developing and implementing long-term business strategies that are resilient to climate change and resulting regulatory shifts. To achieve sustainable returns for clients and beneficiaries, investors in the automotive sector must engage to ensure companies are prepared to thrive in a carbon-constrained environment and support robust policy action sufficient to drive the transition to clean vehicles. It has failed to shrug off its image as a foot-dragger in the fight against climate change – similar to the way most big oil companies are seen. The traditional car industry has gradually been increasing its output of pure electric and hybrid diesel/electric models, but in small numbers. (news.financializer.com). As reported in the news.

mr saifudin: Mr, according to CNN. Saifudin, with a shemagh casually draped around his shoulders, holds up a stack of fresh bills and sports a mischievous grin on his face. Nasima, an elementary school student dressed in a traditional black-and-white uniform, looks ahead soberly with her hands clasped together. He works in the currency business, exchanging money on his city street corners. In a series of portraits, Umbach depicts people who live in and around Mazar-e-Sharif, Afghanistan third-largest city and a key location for US-led military action in the country. They are the Afghans in Jens Umbach latest project, which the photographer hopes to turn into an 11-chapter book. (news.financializer.com). As reported in the news.

navdeep bains: Navdeep Bains says newcomers create jobs in Canada and is urging people to see immigration not as a social issue, but as a key driver of economic growth, according to The Toronto Star. Bains is asking the business community to help sell immigration as something that can increase prosperity and opportunity for Canadians. By The Canadian Press Wed., Oct. 12, 2016 OTTAWA—Canada economic development minister says the federal Liberal government is encountering public pushback on its immigration plans from Canadians who fear for their jobs. He says people need to understand that bringing in newcomers will give the country a competitive advantage. Article Continued Below Bains made the comments today while speaking to business leaders at an economic summit in Ottawa sponsored by the Public Policy Forum. The minister says the government has to do a better job of telling that story. (news.financializer.com). As reported in the news.

october heist: No suspect has been arrested, but investigators are examining DNA traces found in the luxury apartment where five gunmen robbed Kardashian of jewellery worth some nine million euros, sources close to the investigation said, according to Nine News Australia. The star 30,000-euro diamond necklace, found in the street by a passer-by hours after the October 3 heist, has not yielded any usable DNA samples, one of the sources told AFP. Two mobile phones belonging to the 35-year-old multi-millionaire were also stolen during the holdup in the chic Madeleine district of Paris, near the city main department stores and foreign embassies. French prosecutors have formally opened an investigation into the armed robbery in Paris of Kim Kardashian in which the US reality TV star lost millions in jewellery, a judicial source said Wednesday. Police said the robbers held a gun to Kardashian head, bound and gagged her and shut her into a bathroom in the biggest jewellery robbery of an individual in France in more than 20 years. The robbers are believed to have fled the scene by bicycle. The star bodyguard, Pascal Duvier, was not with her at the time because he was providing security for Kardashian sister Kourtney at a Paris nightclub. (news.financializer.com). As reported in the news.

rate rise: Despite signs of a stronger appetite for a rate rise, the minutes also signal caution and division among members about the actual timing on a rates move. "It was noted that a reasonable argument could be made either for an increase at this meeting or for waiting for some additional information on the labour market and inflation," the minutes say. "A couple of members emphasised that a cautious approach to removing accommodation was warranted." The minutes show three voting members on the Fed rate-setting committee dissented on the September policy in favour of an immediate hike when rates were left at between 0.25 and 0.5 per cent, according to Australian Broadcasting Corporation. There is concern that "without gradual increases in the target range" a tighter labour market could result in "a subsequent sharp tightening .. that could shorten the economic expansion." There also appears to be jitters that inflation remains below the Federal Reserve 2 per cent target with voting members noting "there were few signs of emerging inflationary pressures." Wall Street stocks ended 0.1 per cent higher after the Federal Reserve minutes were released despite initial analysis showing little new information in the Federal Reserve rates thinking. Related Story: Interest rates will stay 'very low for a long time', says leading economist Map: United States The likelihood of the first US interest rate rise in a year has slightly strengthened after a number of Federal Reserve voting members said a hike would be justified "relatively soon". With markets factoring in as much as a 70 per cent chance of a December rate hike, several members noted higher rates would be warranted if the US economy continues to strengthen. "Several members judged that it would be appropriate to increase the target range for the federal funds rate relatively soon if economic developments unfolded … as expected," according to the minutes from the Fed September policy meeting. The US dollar was slightly higher on the continued speculation that the reserve will push the rates button in December. Follow Peter Ryan on Twitter @peter_f_ryan and on his Main Street blog. banking, united-states First posted October 13, 2016 07:35:16 noindex The Federal Reserve board next meets on November 1 but a rate rise is seen unlikely a week out from the US presidential election. (news.financializer.com). As reported in the news.

gaap earnings: If earnings are lower than expected, the stock should go down, according to Market Watch. The price-to-earnings ratio is the most common valuation metric in the financial media. If earnings beat expectations, they say it a reason for the stock to go up. You might think, given their prominence and the fact that the Financial Accounting Standards Board governs their calculation, that earnings reflect a company profits. CFOs themselves admit they frequently exploit these loopholes to prop up earnings and ensure management gets their bonuses. Instead, GAAP earnings are subject to a number of accounting loopholes and distortions that cause them to diverge from true cash profits. (news.financializer.com). As reported in the news.