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

boj message: The BOJ message was that it is now up to the Abe government to do more, according to Shirai, whose term on the bank Policy Board ended in March, according to The Japan Times. The BOJ sent a signal that the BOJ has done everything they could and already achieved very accommodative monetary environment and it now time for the government to do something to increase aggregate demand, Shirai, a Tokyo-based professor of economics at Keio University, said in an interview Wednesday. Government stimulus, along with highly accommodative financial conditions, would support growth in the economy at a rate likely to be above its potential through March 2019, the central bank said Tuesday in its quarterly outlook report. Many economists interpreted a BOJ policy shift in September as preparation for a sustained fight to generate inflation. Now the focus is turning to fiscal policy. Shirai said the bank would maintain the status quo on policy unless the yen surges or economic data deteriorate. (news.financializer.com). As reported in the news.

euro prize: Every two years since 2004, the International Highrise Award has selected a structure that combines outstanding spatial design and innovative functionality, according to Deutsche Welle. Buildings need to be at least 100 meters high to be considered for this award and must have been completed within the last 24 months. The prize recognizes the world most innovative tall building and is considered one of the most important architecture awards worldwide. The award is jointly organized by the city of Frankfurt, the German Architecture Museum and Deka Bank. No European finalists Thirty structures from 14 countries entered the competition, among which the European Central Bank in Frankfurt. It includes a 50,000-euro prize. (news.financializer.com). As reported in the news.

jetzt entlastet: Die Länder erhalten in diesem Jahr weitere rund 2,6 Milliarden Euro vom Bund, according to Deutsche Welle. Wie das Bundesfinanzministerium mitteilte, stellt der Bund laut Kabinettsbeschluss zusätzlich zu den bereits gewährten Erstattungen rund 1,16 Milliarden Euro über die Umsatzsteuerverteilung für das kommende Jahr zur Verfügung. Jetzt entlastet die Bundesregierung die Länder und Kommunen erneut. Dass die Summe für 2017 viel niedriger liegt als 2016, wird mit Fortschritten bei der Verfahrensdauer beim Bundesamt und der gesunkenen Zahl neuankommender Flüchtlinge begründet. Doch der Richterspruch aus Nordrhein-Westfalen dürfte schon jetzt in Berlin Gehör finden. Die Redaktion empfiehlt Urteil billigt Syrern Flüchtlingsschutz zu Noch ist eine Berufung möglich. (news.financializer.com). As reported in the news.

p spx: The last time the index fell for seven straight days was in late November 2011, when the market tanked 8.6%. Back then investors were gripped by fears over the eurozone economy and the so-called fiscal cliff in the U.S. The S&P 500 index SPX, -0.44% finished 2011 flat, according to Market Watch. But the current pullback is very shallow, with the index down only 2.5%, having fallen less than 1% on each of those days. The benchmark index fell 0.7% to 2,097.94, a seventh consecutive daily loss. Perhaps even stranger is the fact that the S&P 500 SPX, -0.44% has been positive at some point in each of the last seven sessions before ending in negative territory. The average decline during those streaks was 6.2%. The worst 7-day cumulative decline was in October 2008, when the market dropped 22% in the midst of the financial crisis. According to Ryan Detrick, senior market strategist at LPL Financial, there were 92 previous times since 1928 when the benchmark index fell for seven straight days. (news.financializer.com). As reported in the news.

p spx: The last time the so-called fear gauge closed at such an elevated level was June 27, days after the U.K. surprise vote to leave the European Union, according to Market Watch. Over the past month, the VIX has surged nearly 50%. The VIX is based on the implied, or expected, volatilities of a range of S&P 500 SPX, -0.44% options and is designed to provide a real-time measure of how much the market thinks the S&P will fluctuate over the next 30 days. The CBOE Volatility Index VIX, -1.27% has advanced over the past six trading sessions, and was up 13% at 19.32 on Tuesday after notching an intraday high of 20.43. The VIX doesn't often give you forecasting signals, but when something like this is happening, it showing an uncomfortable anxiety, and part of that is getting close to the election and the Fed meeting, said Randy Frederick, managing director of trading and derivatives at Schwab Center for Financial Research, in an interview. Stock index futures pointed to a flat to weaker start Wednesday. Stocks fell Tuesday, with the S&P 500 posting its sixth straight daily decline. (news.financializer.com). As reported in the news.

migration: The Committee for Economic Development of Australia has released a report, Migration: the economic debate . It makes 17 recommendations to improve Australia migration program, saying changes are required to ensure it remains one of the best programs in the world, according to The Guardian. Bureau of Statistics figures show net overseas migration in 2014-15 recorded an annual increase of 168,200 people. But it could do so only with better long-term planning around population growth, with policies focused on infrastructure provision, urban congestion and environmental degradation. Net overseas migration is the net gain or loss of population through immigration to Australia and emigration from Australia. Stephen Martin, the chief executive of Ceda, said Australia migration program had strong community support, but key aspects had the potential to undermine that support. But Ceda said that figure could rise to 400,000 by 2054, bringing beneficial economic consequences, if important changes were made to the program. (news.financializer.com). As reported in the news.

nikkei: Stocks across Asia Pacific saw a broad selloff on Wednesday with the Nikkei in Japan down by 1.8% at 4am GMT. There were also steep falls in Australia where the ASX/S&P 200 benchmark index was down almost 1.5%, with falls of 1.3% in South Korea and Hong Kong as markets took a lead from a sharp drop on Wall Street overnight, according to The Guardian. The main European markets were also expected to begin the day in the red when they open later, according to futures trading. Market anxiety has deepened over a possible Trump victory given uncertainty on the Republican candidate stance on issues including foreign policy, trade relations and immigration, while Clinton is viewed as a candidate of the status quo. Facebook Twitter Pinterest How does the US electoral college work The tumultuous presidential race appeared to tighten after news that the FBI was reviewing more emails as part of a probe into Clinton use of a private email server. That pushed the US S&P500 Index down to a four-month closing low on Tuesday. While Clinton held a five-percentage-point lead over Trump, according to a Reuters/Ipsos opinion poll released on Monday, other polls showed Trump ahead by 1-2 percentage points. (news.financializer.com). As reported in the news.

cent: Many initial public offerings, or IPO's, this year have been lucrative, outperforming the ASX 200 by around 25 per cent, according to Australian Broadcasting Corporation. Drone Shield which listed in June jumped 90 per cent on debut from its offer price of 20 cents, and Buy MyPlace jumped on its first day in March and eight months on is double where it started, now trading at 48 cents. Related Story: Trump presidency jitters spark fall in Asia-Pacific markets Map: Australia Many retail investors are bitterly disappointed the ASX has ignored their campaign to get greater access to stock market listings. They are tidy profits for investors who could get in early — but the best IPOs are often only open to the big end of town. "They are pre-sold to sophisticated investors and institutions, a sophisticated investor is someone with $2.5 million in assets," aid Ben Bucknell from OnMarket Bookbuild, an online company which helps small retail investors access IPOs. "In all the bigger IPOs they're pre-sold so there no shares left for retail investors." Midway through the year Mr Bucknell said small investors and the Australian Shareholders Association saw an opportunity to even up the playing field when the ASX launched a review of its listing rules. The idea was lifted from Hong Kong and Singapore markets, which have minimums of 25 and 40 per cent. A campaign was launched by OnMarket calling on the ASX to mandate a minimum number of shares in every float be made available to retail investors, like mum and dad investors and retirees. (news.financializer.com). As reported in the news.

p tsx: At the Toronto Stock Exchange, the S&P/TSX composite index lost 183.21 points at 14,595.11, pulled lower by all sectors, according to The Toronto Star. On Wall Street, the Dow Jones industrial average declined 77.46 points to 17,959.64 and the S&P 500 slipped 13.78 points to 2,097.94. By The Canadian Press Wed., Nov. 2, 2016 Canada main stock index pulled back more than 1 per cent, racking up a three-digit loss, as oil prices fell and the U.S. Federal Reserve announced it wasn't ready to move on interest rates yet. The Nasdaq composite fell 48.01 points to 5,105.57. The December crude contract dropped $1.33 to $45.34 per barrel. In currencies, the Canadian dollar dipped 0.02 of a U.S. cent to 74.65 cents U.S., as crude prices fell for a fourth straight session. (news.financializer.com). As reported in the news.

atom: The atom nucleus was discovered in 1911, and its constituent parts about two decades later, according to Nine News Australia. Yet scientists still know very little about nuclei, which are about 10,000 times smaller than the atoms they sit in. But where do nuclei come from How are they forged Which forces govern their behaviour These are questions for a new particle accelerator dubbed SPIRAL2 to be inaugurated in Caen, northwest France, on Thursday. To study them, the 138 million-euro project will synthesise and examine so-called "exotic" nuclei, usually forged in the cores of stars and not found on Earth."We want to understand how these matter-building elements are produced under the extreme heat conditions found in stars," said Jean-Charles Thomas, a researcher at France CNRS science institute. Scientists hope the experiment will help explain why different nuclei have different proton to neutron ratios. To create such particles, scientists will shoot dense beams of ions -- atoms stripped of some of their electrons -- over a 40-metre tunnel some 10 metres underground."We will recreate what happens inside stars in the laboratory," Thomas told AFP. The beams will explode against a target surface, disintegrating into subatomic particles including nuclei, many of whom would never have been seen on Earth. (news.financializer.com). As reported in the news.

parking resources: Ting Jian Dan didn't disclose the specific amount it raised, but it said that the investment amounted to "hundreds of millions of yuan," according to a statement it sent to the Global Times on Wednesday, according to Global Times China. Liu Wenchao, CEO of Ting Jian Dan, said at a press conference on Wednesday that as urbanization has progressed in China, urban plans in many cities haven't given enough attention to parking needs, and the problem of insufficient parking space cannot be changed in the short term. "The Easy parking app was invented to help solve the problem. Other investors include Frees Fund and the domestic furniture mall chain Red Star Macalline. It will connect fragmented parking resources via the Internet and increase the efficiency of parking space allocation to car owners," Liu said. Its business covers thousands of parking lots in China, it said. According to the company statement, since the app launch in May 2015, it has provided services for 7.5 million vehicles. (news.financializer.com). As reported in the news.

point tuesday: On Tuesday, the key market gauge gained 17.38 points, according to The Japan Times. The Topix ended down 24.75 points, or 1.78 percent, at 1,368.44 after rising 0.17 point Tuesday. The Nikkei 225 plunged 307.72 points, or 1.76 percent, to close at 17,134.68. Selling outpaced buying from the outset after stocks fell on U.S. and major European markets Tuesday. Stocks accelerated their downswing in the afternoon, briefly pushing the Nikkei down more than 360 points. The dollar fall below ¥104 also pressured the TSE, brokers said. (news.financializer.com). As reported in the news.

rights: From now on, thousands of music videos that have been banned from the video platform will be made available to users in Germany, according to Deutsche Welle. According to the agreement, You Tube will pay GEMA an undisclosed fee each time a music video is viewed, so that the rights holders can in turn be paid. YouTube and GEMA, Germany music rights organization, have surprisingly ended their seven-year battle over copyright and license fees. Media lawyer Christian Solmecke "Finally artists will be getting money for the music that has always been on You Tube," said Cologne-based media lawyer Christian Solmecke. "That certainly a big success for the rights holders." At the same time, he said, artists won't be making huge sums. YouTube continues to see itself as a technological platform and won't take responsibility in the future for the music that is uploaded to it. He told DW that the new deal between You Tube and GEMA doesn't give artists the legal security he had hoped for. (news.financializer.com). As reported in the news.

roof tiles: Photo: Tesla Musk was joined on a 40 minute conference call by Solar City Corp, according to Market Watch. SCTY, -0.38% CEO Lyndon Rive, after Tesla TSLA, -0.32% posted a lengthy blog post that contended the deal will add $1 billion-plus in revenue in 2017 and more than $500 million in cash to Tesla balance sheet over the next 3 years. Tesla Ventures Into Solar Tiles for Homes Tesla Motors CEO Elon Musk proposed Friday that the electric car maker merge with Solar City, creator of solar panels, to sell solar roof tiles for homes. Tesla also projected $150 million in cost savings within the first year from sales and marketing efficiencies, and predicted a lot of customer crossover potential from Tesla owners to owners of homes with solar powered roofs. Tesla faces a gargantuan task in manufacturing and launching its mass-market Model 3, which Musk says will hit the market at the end of 2017. The deal, which has dragged on Tesla stock, has been legitimately questioned by analysts and corporate governance experts as too big and risky an undertaking, especially now. (news.financializer.com). As reported in the news.

security organization: India and Pakistan signed the SCO Memorandum of Obligations in June, kick-starting the process of their accession into the group, which also has a number of observers and dialogue partners, according to Global Times China. The SCO has now set up an efficient regional anti-terror structure in the Uzbek capital city of Tashkent, which has coordinated a series of regular training exercises and built up a great level of trust among its members, Alexander Lukin, director of the Center for East Asian and SCO studies at Moscow State Institute of International Relations, told Xinhua in a recent interview. Established in 2001, the SCO is a regional political, economic and security organization that has China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan as full members. As some SCO member states are less experienced in the struggle against terrorism, he noted, frequent joint drills have played an important role in mutual learning and transfer of experience, and have helped strengthen regional security. Lukin said that although a number of documents on the promotion of economic development within the SCO have been adopted, the mechanism for funding joint projects is still not enough. As to economic cooperation, however, the expert pointed out that more needs to be done. (news.financializer.com). As reported in the news.

spring budget: According to the update, Canada deficit is expected to hit 25.1 billion Canadian dollars , lower than the 29.4-billion-dollar federal deficit Finance Minister Bill Morneau projected in his spring budget, according to Xinhua China. In March, Morneau said that Canada books would be balanced by 2021-2022. Just days before Justin Trudeau marks his first anniversary in office as Canada 23rd prime minister, his Liberal government released a gloomy economic update that predicted a larger national deficit for 2016-17. Now, he predicted that the deficit will be 14.6 billion Canadian dollars by then. "Our economy is growing," Morneau told the House of Commons while unveiling his Fall Economic Statement. "Just not as fast as we would like." Trudeau government has committed to spending more on infrastructure projects. The government also planned to establish a Canada Investment Bank next year that will provide at least 35 billion Canadian dollars for large infrastructure projects with the hope of attracting four or five times that amount in private capital. From 2017 to 2028, 81.2 billion Canadian dollars will be allocated to such projects as public transit improvement, trade and transportation so as to facilitate exports. (news.financializer.com). As reported in the news.

trade ties: The Chinese market has increased its capacity to consume products from Latin America, said Samper about the commercial integration between both sides, according to Xinhua China. He added that the Asia-Pacific region has become a must for countries seeking to strengthen economic and trade ties. "We see the Pacific as an area of opportunity for all the countries of South America," he said. "China is, without doubt, one of the most important partners in the region, not only because of foreign investment but also for international cooperation," said the former president. "China does not act only out of its own interests, but of friendship and solidarity," he said. "For us, China is a big brother of countries in the South. Samper, who is also the former president of Colombia , said that UNASUR would carefully analyze the success of the APEC meeting. "We see the organization of this meeting very positively, especially in Peru, which has in some way become the capital of the Latin American Pacific." For Samper, the integration of Latin America coincides with the goal to bring together economies across the Asia-Pacific. "UNASUR has already discussed the possibility of a broader political and economic integration in the region," he pointed out, adding that the bloc supports initiatives which promote cooperation and commercial alliances around the world. "China is a crucial player in the region today," he explained, saying that the direct commercial aid and investments from China have poured into the regional economy. We want to see it as a good brother, a trusted partner," he noted. (news.financializer.com). As reported in the news.

wall: The sudden drop, however, served as an interesting reminder: Donald Trump may be a New York billionaire, but investors around the world desperately hope he loses, according to MSNBC. The *Wall Street Journal* reported overnight that Wall Street fell yesterday at least in part because of fears that the Republican presidential candidate might win. Almost immediately after the Comey news went public, U.S. markets fell quickly and sharply, only to gradually recover once it became clearer the FBI director letter was more anodyne than it initially appeared. Tightening polls in the U.S. presidential race also continued to steer market sentiment. Until last Friday, markets had become a bit complacent and most people thought it would be very difficult for Trump to win, he said. A Washington Post-ABC News tracking poll showed Republican candidate Donald Trump leading in the U.S. presidential race on Tuesday, sparking uncertainty after investors had broadly priced in a victory for Hillary Clinton. … E lections are the main focus, said Philip Marey, U.S. strategist at Rabobank. (news.financializer.com). As reported in the news.

weapons enthusiasts: And it seems the wider public believes them too…it very interesting look at some of the reaction in the wider community to the potential success of both candidates, according to Nine News Australia. Ms Clinton led in the polls throughout October, and it no coincidence that October saw record levels of gun sales across the US as weapons enthusiasts feared that if the Democrats won this, they'd set their sights on tightening gun laws. Hillary Clinton has also shown in the last couple of days that she believes the polls too – this week she has more than doubled her advertising spend in a desperate 11th hour bid to resuscitate her run for the White House. And yesterday as Mr Trump hit the lead in polls for the first time in six months, a shudder went through global financial markets…almost all major European and Asian markets plunged as international investors feared the ramifications of the Republican candidate potentially taking the top job. Firstly, in early voting the turn out so far from African American voters is down significantly – it was to be expected given that Barack Obama isn't running this time around, but either way it bad news for the Democrats. With six days to go, this election could go either way – and here are a couple of interesting little statistics that could sway which side claims victory on November 8. (news.financializer.com). As reported in the news.

risk: England rugby squad workload puts welfare at risk, warns players' union Read more Ritchie warned of inevitable financial implications for the global game, however, if drastic changes are made to the fixture list, according to The Guardian. I do accept that when we're discussing the global season any agreement has to look at a reduction in the number of matches played, he said. England are about to host four consecutive matches at Twickenham but Ian Ritchie, the RFU chief executive, says he would back any proposal to cut the volume of Test rugby played worldwide. We've got to do more than pay lip service to player welfare but you have to accept an economic hit somewhere along the line. It all part of looking at how many games English players play and how many international games there are generally. The global-season issue is a perennial conflict between player welfare and economics. (news.financializer.com). As reported in the news.

basis: The earnings on a current cost of supplies basis , excluding identified items, were 2.792 billion euros in the third quarter, an increase of 18 percent compared to the 2.376 billion euros in the same period last year. "Shell delivered better results this quarter, reflecting strong operational and cost performance," Shell CEO Ben van Beurden said in a press release, adding "But lower oil prices continue to be a significant challenge across the business, and the outlook remains uncertain." Shell continues to reshape the company, save costs and reduce investments in 2016. "Our investment plans and portfolio actions are focused firmly on reshaping Shell into a world-class investment case at all points in the oil-price cycle, through stronger returns and improved free cash flow per share," Van Beurden added, noting "We are making good progress towards this aim in spite of current challenging market conditions." On Feb. 15, 2016, Shell completed the acquisition of the British oil and gas company BG Group. "The integration of Shell and BG is now essentially done and has been completed well ahead of plan," Van Beurden said. "It been an important catalyst for the significant and lasting changes we are making to the company working practices, cost structure and portfolio," Beurden added, according to Xinhua China. The CCS earnings benefited from increased production volumes mainly from BG assets and lower operating expenses. The income attributable to shareholders in Q3 rose by 119 percent from a loss of 7.416 billion euros last year to an income of 1.375 billion euros this year. This was partly offset by the decline in oil, gas and LNG prices. The oil and gas production for the third quarter also profited from the BG acquisition with an increase of 25 percent compared with the third quarter of 2015. (news.financializer.com). As reported in the news.

city: About 800,000 people use the city transit system daily, said Andrew Busch, a SEPTA spokesman, according to CNN. SEPTA Regional Rail commuter service, which covers a limited area, will be the only option for public transport in and around the city, the agency said. The Southeastern Pennsylvania Transportation Authority, known as SEPTA, said the strike would affect all subway, buses and trolley routes in the city. In anticipation of the strike, SEPTA released a contingency plan that included additional Regional Rail trains. Issues under negotiation between SEPTA and the Transit Workers Union Local 234 included pension reform, health care and wage improvements, the union said on its web site. The more than 4,700 union members who are part of the strike work in the City Transit Division, SEPTA said. (news.financializer.com). As reported in the news.

automobile-related industries: Production in the automobile-related industries shows an increase due to the recovery from the influence of the earthquakes in southwestern Kumamoto prefecture and other elements, while private consumption grows at a sluggish pace due to weak trends in clothing and shifting of overseas tourist consumption from luxury goods to general consumables, the research showed, according to Xinhua China. The regional bureaus of economy, trade and industry surveyed over 700 enterprises on a quarterly basis for the purpose of identifying economic trends, such as those related to business conditions, production, and investment in facilities, and they collect and analyze the survey results. The assessment of national economic situation remains the same in the quarter of July-September as that in the previous quarter, and it is "improving moderately although some businesses show weakness," said the results issued by the Ministry of Economy, Trade and Industry. Compared to the previous quarter, the assessment of regional economic conditions in the third quarter has been revised upward in the Hokkaido, Chugoku and Kyushu regions, and has remained the same in the Tohoku, Kanto, Tokai, Hokuriku, Kinki, Shikoku and Okinawa regions, according to the results. Economic condition in eastern Japan Kanto region, which includes the greater Tokyo area, is "improving moderately with some weakness" in the third quarter, showed the results. "Demand for smartphones and automobiles remain brisk, whereas in terms of private consumption, some businesses show stagnation in sales due to the impact of unstable weather," said the results. (news.financializer.com). As reported in the news.

education: Order this photo By Andrea Gordon Education Reporter Tues., Nov. 1, 2016 Prakash Amarasooriya is on a mission to get more financial literacy into Ontario high schools, according to The Toronto Star. So far, he seems to have a savvy investor touch when it comes to good timing. He now works at a bank and says he meets kids all the time who come in and don't know the first thing about saving, credit cards or budgeting. The 23-year-old is behind a petition launched by the Toronto Youth Cabinet three weeks ago that calls on the Ontario Ministry of Education to revamp its Grade 10 career studies course to incorporate the basics of budgeting. Turns out his pitch is timely. These skills are vital and should be a priority, says Amarasooriya, who works part-time in a bank and knows first-hand how alarming it is to face financial instability without any money skills to rely on. (news.financializer.com). As reported in the news.

expectations: The measure of real gross domestic product in August matched the expectations of economists, according to Thomson Reuters, and it came as the July figure was revised lower to show an increase of 0.4 per cent compared with an initial reading of 0.5 per cent, according to The Toronto Star. Economists noted that the results so far put the economy on track for a strong bounce back for the third quarter after contracting in the second quarter due to the wildfires in Fort McMurray, Alta. By The Canadian Press Tues., Nov. 1, 2016 Economy grew 0.2 per cent in August, reinforcing expectations of reboundOTTAWA—The economy grew by 0.2 per cent in August, Statistics Canada said Tuesday, reinforcing expectations that the country is poised for a rebound in the third quarter. The increase in August GDP builds further onto the outsized gains in July and June and point to third-quarter annualized GDP growth likely increasing 3.5 per cent, Royal Bank assistant chief economist Paul Ferley wrote in a report. Goods-producing industries rose 0.7 per cent in August, boosted by the mining, quarrying and oil and gas extraction sector, which gained 1.4 per cent. Article Continued Below This outsized gain, though welcome, largely reflects the reversal of the temporary factors that weighed on oilsands production and sent second-quarter growth into negative territory, the report said. (news.financializer.com). As reported in the news.

china: He was given a red carpet welcome Tuesday by his Chinese counterpart, Li Keqiang, according to The Japan Times. After meeting at the Great Hall of the People, they oversaw the signing of agreements, including a memorandum of understanding on defense cooperation. Prime Minister Najib Razak hopes to use his visit to Beijing this week to woo new investment and boost his image as he is shunned by Western leaders over the scandal, which has prompted a U.S. government investigation, analysts say. We have not touched upon the details of our cooperation. As China and Malaysia are both South China Sea coastal nations, we need to enhance our naval cooperation to ensure peace and stability in the South China Sea and enhance our mutual trust, he said. Mostly we are focusing on naval cooperation, Vice Foreign Minister Liu Zhenmin told reporters afterward. (news.financializer.com). As reported in the news.