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

alt-right survival: The prospect of the alt-right survival — even if the Republican presidential nominee Mr Trump loses the election — has alarmed traditional conservatives, as the movement threatens to tear the Grand Old Party in two, according to Australian Broadcasting Corporation. Milo Yiannopoulos is a young, gay, British darling of America alt-right and a senior editor at Breitbart, a conservative American news website that is challenging the dominance of traditional media outlets like Fox News. "It doesn't really matter if Trump wins or loses because this movement isn't going anywhere," he said. "Whatever you read into the polls it is at least 30 per cent of the American population who are sick of the establishment, sick of globalism, sick of the media elite, sick of the political elite, and probably a lot more than that frankly — people who just don't want to vote Trump but agree with that basic premise." Photo: Milo Yiannopoulos speaks to sell out crowds and draws thousands to his streamed events. Key points:Milo Yiannopoulos has penned op-eds criticising feminism, transgender people and Islam White nationalist leader says white working middle-class Americans have been disenfranchised Member of white nationalist political party says young white men feel humiliated The alt-right, or alternative right, is an umbrella term for a group of Americans who share a desire to eschew political correctness, are hell bent on breaking the current political system and are viewed by critics as racist and dangerous. Yiannopoulos gained a cult following at Breitbart for penning op-eds criticising feminism, transgender people and Islam. He speaks to sell-out crowds and draws thousands of viewers to his live streamed events. He has written articles calling women liberation "probably a mistake", driven by the advent of the pill and the washing machine. "In the case of transgender, it is elevating a mental illness to the status to some kind of civil rights struggle, which I find bizarre," he said. "Feminists deserve it because they have been man-hating and miserable and horrible people for decades now and women agree with me." The infamous 33-year-old and his entourage are in the middle of a national speaking tour, visiting college campuses across the country. (news.financializer.com). As reported in the news.

business incentives: Hazelwood assistance package:$20 million for establishment of Latrobe Valley Authority$22 million for support, retraining, counselling for workers$50 million for business incentives$174 million for infrastructure projects The brown coal plant will be shut at the end of March next year putting hundreds of people out of work after the French owner, ENGIE, said the 1,600 megawatt power station was deemed no longer economically viable, according to Australian Broadcasting Corporation. About 250 workers would remain at the power station between 2017 and 2023 to manage the site rehabilitation. Related Story: 'Heartbreaking' Hazelwood closure to leave hundreds jobless Related Story: Hazelwood closure means costs will go up, Energy Minister says Map: Morwell 3840 The Victorian Government is establishing a special "economic growth zone" funded by an additional $224 million to help the Latrobe Valley in the wake of the announcement of the closure of the Hazelwood power station. Victorian Treasurer Tim Pallas said the funding for the new growth zone was part of a $266 million package to create jobs and grow local businesses. The package would include $50 million for infrastructure projects, some of which were ready to go. "This will target new local projects which could include road and rail upgrades, school upgrades, health facilities," Mr Pallas said. Tax breaks, infrastructure funding The State Government had already announced $42 million in assistance for workers and the region, that will go towards the creation of a Latrobe Valley Authority and specific job help for workers. (news.financializer.com). As reported in the news.

ad load: That party appears to be ending, according to Market Watch. We continue to expect that ad load will play a less significant factor driving revenue growth after mid-2017, Facebook CFO David Wehner said in Wednesday earnings call, later adding, With a much smaller contribution from this important factor going forward, we expect to see ad revenue growth rates come down meaningfully. Facebook FB, +0.63%detailed third-quarter earnings Wednesday afternoon, showing off profits that grew 166% from last year and revenue growth of 56%. That growth stems from the number of ads that Facebook is shoving into users' news feeds as well as the popular Instagram photo-sharing app. Read also: The secret to a longer life: Facebook Facebook would not say whether the decrease would come from a slowdown in user growth or declining growth in the number of ads in existing users' feeds. We anticipate 2017 will be an aggressive investment year, Wehner said, specifically mentioning recruitment of employees and Facebook investment in cloud infrastructure. But Wehner did say that the slowdown in advertising revenue growth would not stop Facebook from spending even more. (news.financializer.com). As reported in the news.

data cloud: For its IPO, GDS will sell 19.25 million American Depositary Shares with the price set at 10 US dollars per share, according to Global Times China. The company is expected to raise about 200 million US dollars from investors. GDS has listed on the Nasdaq Global Market, where US tech giants Apple, Amazon and Facebook and China Baidu and JD.com are traded. It is the highest financing volume for a Chinese tech company pursuing an IPO in the United States this year, according to Yeeli Hua Zheng, China Chief Representative with Nasdaq. GDS chairman and CEO Huang Wei said the company will use the money to invest in improving and expanding facilities in the cities to offer high-quality services as demand for big data and cloud computing continues to grow among tech and financial companies. GDS facilities are strategically located in China primary economic hubs such as Beijing, Shanghai, Chengdu and Shenzhen, where demand for high-performance data center services is concentrated. (news.financializer.com). As reported in the news.

dow jones: Over the month following that win, the Dow Jones Industrial Average DJIA, -0.24% jumped 8%. A similar-sized gained these days would add more than 1,400 points to the Dow, according to Market Watch. The stock market immediate reaction following the last Cleveland Indians' World Series win, in 1948, was considerably different: Over the month following that victory, the Dow slumped 4.9%. This divergence widened even further over the 12 months after those World Series. That because the market soared following their previous victory — yes, back in 1908. In the year after the Cubs won in 1908, the Dow climbed 20.3%, about 18 percentage points better than the 2.4% 12-month gain following the last Indians championship. Photo: Getty Images Yes, the Cubs pulled it off with an 8-7 win, breaking the 108-year drought since that last World Championship, but only after 10 dramatic innings. Chicago Cubs Win First World Series in 108 Years The Chicago Cubs beat the Cleveland Indians 8-7 in Game 7 to win the World Series, ending the longest Series drought in a U.S. city. (news.financializer.com). As reported in the news.

jury pool: Franqui Francisco Flores de Freitas, 31, and Efrain Antonio Campo Flores, 30, are the nephews of Maduro wife, Cilia Flores, according to Deutsche Welle. US District Judge Paul Crotty spent much of the day questioning potential jurors about their backgrounds and interests, as well their knowledge of Venezuelan politics. The two men, appearing in Manhattan federal court, are accused of attempting a multimillion-dollar drug deal aimed at helping President Nicolas Maduro hold on to power. The jury pool began with 95 candidates and was whittled down through several rounds of questioning. Jury selection will continue on Thursday, with the ultimate aim of choosing 12 jurors and four back-ups. Among those under consideration are a nurse, an architect and a call center employee. (news.financializer.com). As reported in the news.

email account: The back-and-forth involving a 2014 event was included in the latest cache of messages supposedly hacked from the email account of Clinton campaign chair John Podesta, and released Wednesday by Wiki Leaks, according to The Toronto Star. Late that year, Clinton was receiving a fee to speak to an Ottawa conference hosted by the progressive think-tank Canada 2020, which has close ties to the then-opposition Liberal party. By Alexander Panetta The Canadian Press Wed., Nov. 2, 2016 WASHINGTON—Hillary Clinton entourage expressed annoyance that Canada Liberal party used an event she appeared at as a fundraising opportunity, according to an exchange from a purportedly stolen email published by Wiki Leaks. Rumours swirled at the time of a possible joint appearance featuring Clinton and Justin Trudeau. Wednesday email release offers clues into what happened next. Liberals were eager to billboard that event as a glimpse at the future of North American leadership, as both were leading the polls in their respective countries at that point. (news.financializer.com). As reported in the news.

fbi agents: And with those rumors in mind, consider the latest reporting from the *Wall Street Journal*, which paints a rather alarming portrait of recent political developments at the bureau, according to MSNBC. Secret recordings of a suspect talking about the Clinton Foundation fueled an internal battle between FBI agents who wanted to pursue the case and corruption prosecutors who viewed the statements as worthless hearsay, people familiar with the matter said. There have been rumors about a group of aggressively anti-Clinton officials in the FBI, determined to undermine the Democratic presidential candidate. Agents, using informants and recordings from unrelated corruption investigations, thought they had found enough material to merit aggressively pursuing the investigation into the foundation that started in summer 2015 based on claims made in a book by a conservative author called Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich, these people said. If you weren't concerned about what going on at the FBI before, you probably should be now. The *Journal* report explained that senior officials in the Justice Department and the FBI didn't think much of the allegations against the Clinton Foundation, but a group of investigators nevertheless pushed forward – during this year presidential campaign – including multiple interviews with Peter Schweizer, a former speechwriting consultant for President George W. Bush, who authored the anti-Clinton screed, Clinton Cash. (news.financializer.com). As reported in the news.

fbi: Wall Street assumption that Clinton was cruising to a comfortable victory has been shattered by the FBI announcement on Friday that it was looking into a batch of freshly discovered emails that might have a bearing on its investigation into the former US secretary of state, according to The Guardian. Facebook Twitter Pinterest Hillary Clinton: 'There is no case' in FBI email investigation – video As the battle for the White House entered its final days, evidence that Clinton seemingly unassailable lead has been whittled away led investors to speculate on a repeat of the UK EU referendum in June, when opinion polls were suggesting a victory for the remain side throughout the campaign and up until the polls closed. Shares and the US dollar also fell after opinion polls suggested that the contest between Trump and his Democrat opponent, Hillary Clinton, was now too close to call. Now that it a bit less certain that Clinton is going to win, we're seeing the impact of investors finally taking evasive action – probably evasive action which they should have taken a month ago, said Ken Odeluga, market analyst at City Index. Paresh Davdra, chief executive of RationalFX, said: Despite seeming improbable to most of us for the majority of the last year, the prospect of a Trump presidency has long unsettled economists and market analysts, who predicted he would bring uncertainty to markets. The caution is setting in. (news.financializer.com). As reported in the news.

growth prospects: Traders said the court ruling offered hope that MPs would limit the power of ministers set on a hard Brexit , easing concerns that Britain will be dumped out of the EU without a free trade agreement, harming its growth prospects, according to The Guardian. The pound has tumbled since the Conservative party conference when Theresa May appeared to put plans to limit immigration above remaining in the EU single market. Sterling climbed as much as 1.5% to hit $1.249, its highest level in three weeks, before falling back as uncertainty continued to grip currency markets. Spooked by forecasts that the UK could be pushed back into recession, investors have sold pounds in favour of safer-haven currencies such as the dollar and yen. A monthly survey of services companies gave the pound a further lift on Thursday after it showed that the services sector expanded in October, supporting GDP growth. A run of solid business surveys in the last few days served to put a floor under the pound, but it took the article 50 ruling and the increased likelihood of a soft Brexit to give the currency a solid boost. (news.financializer.com). As reported in the news.

hazelwood station: The Liddell coal power plant in NSW Hunter Valley is slated to close in 2022."I would like to see more gas into the system and hopefully after announcement we will see more investment in gas fired power," Mr Frydenberg said, according to Nine News Australia. The Hazelwood station is more than 50 years old and provides more than 20 per cent of Victoria electricity. Mr Frydenberg has blamed the Victorian government for "driving out of town" Hazelwood French majority owner Engie by tripling coal royalties paid to the state."We can't afford the closure of another Hazelwood in the near term," he told ABC Radio on Friday, adding that power supply was already tight. There are fears many of the 750 workers won't be able to find new jobs. Engie Australian chief Alex Keisser defended the decision-making process and said the company had been in talks with the federal and state government for several weeks."This is not a decision to take lightly," he told ABC radio, acknowledging the local community impact. Labor industry spokesman Kim Carr has criticised a federal government assistance package arguing the situation requires more resources for job creation."You can train people all you like but unless there are jobs, then there is inevitably going to be frustration," he told ABC Radio. (news.financializer.com). As reported in the news.

midday trade: The action camera maker is scheduled to report third-quarter results after the closing bell, with analysts expecting a fourth-straight quarter of losses and revenue declines, according to Market Watch. GoPro and Fitbit shares often trade in tandem. GoPro stock GPRO, -6.53% slumped 4.1% in midday trade, putting it on track for its lowest close since July 27. In fact, the correlation coefficient between the two stocks since Fitbit FIT, +2.35% went public on June 18, 2015 is a very high 0.886. And Fitbit stock was on course for its biggest-ever one-day percentage decline, as it plummeted 31% to a record low after the fitness band maker released results after Wednesday close. A correlation of 1.00 would mean the stocks are perfectly in sync. (news.financializer.com). As reported in the news.

points: The CSI 300 index of the 300 biggest companies traded in Shanghai and Shenzhen went up 0.95 percent to close at 3,365.09 points, according to Global Times China. The Chi Next Index, which tracks China NASDAQ-style board for high-tech and emerging start-ups, gained 0.32 percent to 2,153.18 points. The benchmark Shanghai Composite Index went up 0.84 percent to close at 3,128.94 points, while the Shenzhen Component Index finished 0.48 percent higher at 10,743.96 points. A total of 640.5 billion yuan in shares changed hands on the Shanghai and Shenzhen exchanges on Thursday, up from 544 billion yuan on Wednesday. Chinese service activity grew at a faster rate in October, as the Caixin China General Services PMI rose to 52.4, compared with 52 in September, according to Caixin on Thursday. A private survey had showed growth in China services sector accelerated in October, reinforcing the view that the country is on a steadier footing. (news.financializer.com). As reported in the news.

property prices: Global Times reporter Liu Jianxi talked with Yukon Huang , a senior associate in the Carnegie Asia Program, a leading economist in Asia and former World Bank country director for China, about these issues, according to Global Times China. Some economists suggest China may face a financial crisis. However, given its debt problem and soaring property prices, many observers abroad have become more negative about China economy. What is your take Huang: Over the last 10 years, China debt to GDP ratio has increased from about 150 percent to 250 percent. The level is not a worry. The debt ratio is not unusual given China stage of development. (news.financializer.com). As reported in the news.

russian: The projects are part of the economic cooperation Prime Minister Shinzo Abe proposed to Russian President Vladimir Putin in May, according to The Japan Times. Seko handed over to Russian officials Abe letters to Putin and Prime Minister Dmitri Medvedev, in which the Japanese leader expresses his desire to develop bilateral ties, a ministry official said. The agreement came after Minister of Economy, Trade and Industry Hiroshige Seko met with Russian Economic Development Minister Alexei Ulyukayev and Energy Minister Alexander Novak in Moscow. The two ministers agreed to set 30 or so projects in such areas as oil and gas field development, wind power generation and cooperation in nuclear reactor decommissioning work at the disaster-stricken Fukushima power plant before Putin visits Japan in mid-December for talks with Abe. Tokyo is eager to use bilateral economic cooperation to make progress on a territorial dispute with Moscow over a group of islands off Hokkaido that were seized by the Soviet Union after Japan World War II surrender in August 1945 and remain under Russian control. Both sides also agreed to set up working groups to discuss details on development of different energy sources and continue studying a so-called energy bridge project for installing power routes from plants on Sakhalin Island in the Russian Far East to Hokkaido. (news.financializer.com). As reported in the news.

workers: Just don't call it immigration, according to The Japan Times. Japan will allow more unskilled workers to enter temporarily, as companies struggle to fill positions in a country with the lowest unemployment rate among the Group of Seven nations. That the message from Japan, where the number of foreign workers, though still relatively small, has nearly doubled over the past eight years, and Prime Minister Shinzo Abe ruling party is considering policies to speed up arrivals. Abe has made it clear that opening the nation to permanent immigration by unskilled labor isn't an option, reflecting a historic fear among the Japanese that foreign nationals would cause social unrest and erode national identity. The prime minister often says it not immigration, it guest workers. In Japan, the word 'immigrant' is not used in policymaking, former economy minister Heizo Takenaka said in an interview. (news.financializer.com). As reported in the news.

herbert: The information is contained in a report to creditors of Elite Grains, written by PPB Advisory liquidator Jeff Herbert, and leaked to the ABC. It comes as the Federal Government prepares a High Court challenge to the validity of Senator Culleton election. "There will not be a dividend to any class of creditor in this liquidation," Mr Herbert report states. "I am not aware of any other assets to realise or claims that can be commercially pursued to recover funds for creditors." The report estimates Elite Grains collapsed with debts of approximately $6.1 million, according to Australian Broadcasting Corporation. The debt includes $4.3 million owed to the ANZ Bank and $231,000 owed to the Australian Taxation Office. Related Story: Culleton should make 'informed decision' about future, Hanson says Related Story: Culleton to abstain from voting while Senate position under cloud Related Story: Validity of One Nation senator election called into question Map: WA Creditors of a collapsed company of which One Nation Senator Rod Culleton is a director, have no hope of getting their money back, the liquidator says. Liquidator says company records inadequate Mr Herbert report goes on to describe difficulty in obtaining financial records, and concerns about the records that could be obtained. "The few records discovered did not include basic books of account, computerised or manual, or records relating to the assets and liabilities of the company," it stated. He has released a statement rejecting PPB assertion Elite Grains creditors have no hope of getting their money back. "I am committed to working closely with the liquidator to ensure a substantial return is made to the creditors," Senator Culleton said. Mr Herbert then concluded, "in my opinion, the records provided would not comply with s286 of the Corporations Act which require company to keep written financial records that correctly record and explain transactions." The ABC understands Senator Culleton had lawyers present when he attended a creditors meeting for Elite Grains in Perth on Thursday. (news.financializer.com). As reported in the news.

milenio television: It a contingency plan that we're discussing with the finance ministry, we hope we don't have to use it, Carstens told Milenio television late on Wednesday, according to The Guardian. Melania Trump to give campaign speech in swing state Pennsylvania – live Read more Without naming the Republican nominee, Carstens said there was an adverse candidate for Mexico in the election, which is due to be held on 8 November. If the adverse situation materializes it foreseeable that the Mexican authorities respond in some way. He also noted there could be market volatility following the vote, regardless of the victor. The Mexican brands mocking Trump: 'We have the right to defend ourselves'Read more Carstens did not provide details of the contingency plan. Either way, we the authorities would need to adjust our policy position if it necessary, he added. (news.financializer.com). As reported in the news.

official market.a: The devaluation pegged the Egyptian pound at 13 to the dollar, up from 8.8 pounds on the official market.A Central Bank foreign currency auction was scheduled for later, according to the official MENA news agency, according to The Toronto Star. By the afternoon, banks sold the U.S. dollar, the most sought after hard currency in Egypt, for 14.30 pounds and bought it for just 13. By Hamza Hendawi The Associated Press Thu., Nov. 3, 2016 CAIRO—Egypt devalued its currency by 48 per cent on Thursday and announced the pound would be allowed to float — measures that meet a key demand by the International Monetary Fund in exchange for a $12 billion loan over three years to overhaul the country ailing economy. The flotation was virtually certain to cause a steep hike in prices, piling up pressure on President Abdel-Fattah el-Sissi government to avoid a popular backlash against its handling of the economy. Article Continued Below El-Sissi, a general-turned-president elected in 2014, has pledged to do all he can to protect Egypt poor from the inflationary fallout that is certain to come with economic reforms. El-Sissi has repeatedly urged Egyptians in recent weeks to rally behind him as he grapples with the country worst economic crisis in decades, arguing that there was no way out of the economic crisis unless Egyptians endure and be patient. (news.financializer.com). As reported in the news.

minister office: Port Moresby was the destination of Mr Abbott last overseas trip as prime minister last September before Malcolm Turnbull toppled him for the top job days after he returned from the Pacific Islands Forum, according to Nine News Australia. From afar Mr O'Neill has watched the game of musical chairs in the prime minister office in Canberra."I have always had a very warm relationship with Tony Abbott, as I have with all Australian prime ministers who have served over the past five years during my time in office," Mr O'Neill said. Peter O'Neill said the pair had "informal wide ranging" talks and discussed the achievements of both governments, national development, Pacific affairs and sport. They also discussed the PNG government economic woes, falling commodity prices and how Mr O'Neill was trying to shield free education and universal healthcare from budget cuts. PNG is hosting the Asia-Pacific Economic Cooperation summit in 2018. Mr O'Neill asked Mr Abbott to support a push for PNG to have a team in the NRL and one day host the Commonwealth Games. (news.financializer.com). As reported in the news.

victorian tenements: Instead of converted Victorian tenements, think brand-new strip malls , postwar Levittown-style ranch houses and 1970s office parks and apartment complexes, according to CNN. From the air, it looks like any other automobile-friendly shopping district. That is not what you will find in Houston Chinatown, a vast, rectangular, city-within-a-city 12 miles southwest of downtown, sprawling along Bellaire Boulevard from Fondren Road on the east to Highway 6 on the west, and extending north roughly to Westpark Drive and south to Beechnut Street. But oh, what a difference when you are the ground. Yes, the street signs along Bellaire Boulevard from South Gessner to roughly Beltway 8 are posted in Mandarin characters as well as English script, but go further west and they change to Vietnamese. There is some debate as to whether "Chinatown" suffices to encompass the multitude of Asian cultures visitors will find within its boundaries. (news.financializer.com). As reported in the news.

church: Paul Parizek, a Des Moines police spokesman. * Mississippi: The mayor of a Mississippi town where a black church was torched and vandalized with the words 'Vote Trump' said Wednesday it is being 'investigated as a hate crime.' Calling the burning of Hopewell Baptist Church in Greenville a 'hateful and cowardly act,' Mayor Errick Simmons said this was 'an attack on the black community.' * Hussain Saeed Alnahdi: A University of Wisconsin-Stout student from Saudi Arabia died one day after being assaulted on a street in downtown Menomonie, Wis., about 70 miles east of Minneapolis, police and school officials said. * Standing Rock: President Obama, in his first remarks on the violent standoff over an oil pipeline near the Standing Rock Sioux Reservation in North Dakota, called on both sides to show restraint and revealed that the Army Corps of Engineers was considering an alternative route for the project, according to MSNBC. Obama specifically said he believes the Army Corps is examining whether there are ways to reroute this pipeline. * Alabama: U.S. House Democrats are asking for an investigation of Georgia-based Colonial Pipeline Co. following a fatal pipeline explosion in Alabama…. They cite the deadly explosion earlier this week near Birmingham, Alabama, and a large spill that happened in September just a few miles away. Scott Michael Greene, 46, surrendered without incident in nearby Dallas County amid a manhunt several hours after the early-morning shootings, said Sgt. They also mention smaller spills in 2015 in North Carolina and Virginia. * The Federal Reserve today subtly hinted that it could be ready to raise its influential interest rate in December amid steady improvement in the job market and solid economic growth. Less than two weeks after his trip to China and his call for a 'separation' from the United States, the president of the Philippines is for the first time feeling the effects of what seems to be – to some at least – a concerted effort to alienate his allies. For now, however, the central bank top officials voted to keep rates unchanged following their two-day policy meeting in Washington. * Actions, consequences: It only Wednesday, but President Rodrigo Duterte must be ready for the weekend. (news.financializer.com). As reported in the news.

interest: Measures that have been rolled out to impede FDI are often described as being in the "national interest." As a result of tightened measures -- in the national interest -- planned Chinese deals worth nearly 40 billion U.S. dollars, or 14 percent of the total, have been scuppered since July 2015, according to Xinhua China. One possible reason for this Chinese investment-phobia is its explosive growth. An obvious victim of FDI protectionism is China, with signs of resistance mounting in the United States, Australia and recently in Europe, too. Owing to the global economic slowdown, high asset prices and low-interest loans at home, China outbound investment surged by 53.7 percent year on year in the first three quarters of this year. After almost four decades of reforms and opening up, Chinese companies have become more market-oriented and profit-driven than many foreigners realize. Yet, these facts are feeble excuses for restrictions. (news.financializer.com). As reported in the news.

maintenance costs: At a special meeting of Tory executive committee Tuesday afternoon, councillors in the mayor inner circle voted to approve the deal, which would make the city responsible for all of the capital costs of the Smart Track project that was the cornerstone of Tory mayoral campaign, according to The Toronto Star. It would also commit the city to the annual operating and maintenance costs for as-yet-unfinished LRT lines, estimated to be tens of millions of dollars a year, and millions more in expenses to bolster the province GO Transit regional express rail plan. By Ben Spurr Transportation Reporter Tues., Nov. 1, 2016 Mayor John Tory is pushing ahead with a multibillion transit agreement with the province, despite claims that it saddles the city with a disproportionate amount of the costs of expanding the transit network, and will compel the municipality to foot the bill for Ontario regional rail plan. Before the vote, Tory said he was carrying out his mandate to bring more transit to Toronto. That is certainly one of the main things that I thought I was sent here to do, he said. We're moving a transit plan forward in partnership with the other governments. (news.financializer.com). As reported in the news.

media company: That was largely due to a $3.2 million increase in the contribution from its digital ventures segment — including 42 per cent growth in adjusted EBITDA at digital media company Vertical Scope, the company said Wednesday, according to The Toronto Star. Torstar earnings base is increasingly digitally oriented, said David Holland, president and CEO of Torstar, on a conference call with analysts. By Lisa Wright Business Reporter Wed., Nov. 2, 2016 Torstar Corp., publisher of the Toronto Star, reported segmented adjusted earnings before interest, taxes, depreciation and amortization, known as adjusted EBITDA, was $13.1 million in the quarter, up $2.7 million from the prior year. Net income from continuing operations was $1.1 million, or one cent per share, in the quarter, compared to a net loss of $164.8 million, or $2.04 per share, in the third quarter of 2015, the company said. Article Continued Below We were pleased, overall, with our progress in the quarter, Holland said. Also, net income attributable to equity shareholders was $1.4 million, or 2 cents per share, in the quarter compared to a net loss of $164.3 million, or $2.05 per share, in the third quarter of 2015. (news.financializer.com). As reported in the news.

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.