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

investors: Over 20,000 companies participated, as well as 2,000 startups, 663 speakers, 1,500 investors, 7,000 CEO from technology, sport fashion and health companies among others, according to Xinhua China. There were also around 2,000 journalists covering the event. Over 53,000 people, including entrepreneurs, startups and investors, attended the three-day event between November 7 and 10. Web Summit moved from Dublin to Portugal this year. One of the hot topics at this year Web Summit was artificial intelligence. which Paddy Cosgrave, CEO of Web Summit, said governments have to start to prepare for the situation in which millions of workers see their jobs at stake. The event would generate at least 200 million euros for the Portuguese economy, according to the Lisbon Tourism Association. (news.financializer.com). As reported in the news.

metal producers: Metal producers including Jiangxi Copper Co. and Aluminum Corp. of China Ltd. were among the biggest gainers on Friday, according to Bloomberg. The Hang Seng China Enterprises Index slipped 1.2 percent. The Shanghai Composite Index climbed 0.8 percent to close at 3,196.04, taking its advance from its Jan. 28 low to more than 20 percent. Gains this quarter have been led by commodity producers and construction companies as the government boosts spending to bolster growth and the price of everything from coal to copper surges. The benchmark gauge may go as high as 3,900, Li said. The benchmark gauge has rallied more than 6 percent since the end of September as cities including Shanghai unveiled curbs to cool the housing market, while margin debt is also rising. function global function ad Code dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; Liquidity is abundant and property curbs will prompt more money to flow into stocks, which look undervalued relative to homes in large cities, said Li Jingyuan, general manager at Shanghai Bingsheng Asset Management. (news.financializer.com). As reported in the news.

safety i: I have written essentially that in several columns in this space, according to Market Watch. The bond bear market is more of a current event, but I will save that for an upcoming column. I firmly believe there will be another major bear market which will take the S&P 500 SPX, -0.14% down by 30%, 40%, or more. As for an equities bear, when it will start, how it will start, how long it will last, and how democratic it will be i.e., will it drag down all stocks and sectors similarly, or will there be some islands of relative safety I can t tell you that and neither can anyone else. Getting some perspective Bear markets are not a signal to sell everything and run to cash. But as a representative of bear nation, I am here to tell you that you can be bearish on the stock market but still make very productive use out of the capital in your portfolio, without having to play market-timing games or flee to near-zero bond yields. (news.financializer.com). As reported in the news.

surprise america: He did, according to Market Watch. According the media, the stock market was supposed to crash in the unlikely event of a Trump win. According to the media, polls and pundits, Trump wasnt supposed to win. It didnt. Will the stock market also surprise America Back to basics In uncertain times such as these, it often best to get back to the basics and ignore the noisemakers duped by the election and market reaction fool me once, shame on you; fool me twice, shame on me . Based on a composite of indicators various types of technical analysis, investor sentiment, money flow, seasonality the Aug. 28 Profit Radar Report published the forward projection shown below. Trump win surprised American. (news.financializer.com). As reported in the news.

tahrir square: A group calling itself Movement of the Poor called for Egyptians to protest on Friday to protest the deepening austerity measures imposed by Egyptian President al-Sisi, according to Deutsche Welle. But major protests did not take place across the country by Friday evening. Tahrir Square, the focus point of the Egyptian Revolution in 2011, was deserted other than the gathered security forces. Police disrupted small gatherings, leading to minor scuffles. Armored vehicles with tear gas canister launchers and dozens of riot police were stationed in the iconic square. No injuries or deaths were reported. (news.financializer.com). As reported in the news.

yen drop: On Thursday, the key market gauge surged 1,092.88 points, the sharpest one-day point gain since Sept. 9 last year, according to The Japan Times. The Topix index of all first-section issues was up 1.93 points, or 0.14 percent, at 1,378.28, after climbing 75.19 points the previous day. The 225-issue Nikkei average rose 30.37 points, or 0.18 percent, to finish at 17,374.79. A wide range of issues drew buying early in the morning session following a record-breaking advance of the Dow Jones industrial average overnight and the yen drop, pushing up the Nikkei average more than 270 points at one stage. But the Tokyo market topside was weighed down later by profit-taking ahead of the weekend, reflecting investor wariness over the rapid pace of stock price gains, according to brokers. Investor expectations for U.S. economic policies under a Trump administration following his victory in the presidential election on Tuesday continued supporting the market, brokers said. (news.financializer.com). As reported in the news.

yuriko koike: At a regular news conference at the metropolitan government office in Tokyo Shinjuku Ward, the governor said Tokyo is key to shoring up the nation economy, and that she hopes for a return to its former position as Asia leading financial hub, according to The Japan Times. The governor said she would do so by easing regulations and revising the tax codes, which she says are deterring potential international investors from entering the Japanese market amid fierce competition from overseas competitors such as in Singapore or Hong Kong. Yuriko Koike on Friday announced her plan to revitalize the nation capital and reaffirm it as a top financial center, a move aimed at boosting the country economic growth in line with Prime Minister Shinzo Abe 600 trillion GDP target for 2020, the year of the Olympic Games. Given it is a central core of Japan growth strategy by 2020, I believe we need to work as speedily as if it were our last chance, Koike said. The teams will work on projects including those aimed at encouraging overseas investors and firms in the fintech industry made up of innovative companies that provide financial technology services to locate their operations in the city. She also said she has formed two project teams comprising Japanese and international experts who will, as early as this month, begin work on devising ways to streamline the city financial markets. (news.financializer.com). As reported in the news.

palmer: While Zimbabwean authorities said Palmer had legal authority to hunt, they were stung by the international outcry and charged local hunter Theo Bronkhorst, who assisted Palmer, with failing to prevent an unlawful hunt, according to Nine News Australia. Bronkhorst lawyers then applied to the High Court to set aside the charge, arguing it could not have been an offence under the country wildlife laws if Palmer had a permit to hunt. Walter Palmer, a lifelong big-game hunter from the US state of Minnesota, touched off a global controversy when he killed Cecil, a rare black-maned lion, with a bow and arrow outside Hwange National Park in western Zimbabwe in July 2015. The court granted us that prayer yesterday - that the charges be quashed. Cecil had been fitted with a collar to track his movements but strayed outside the confines of Hwange National Park and was then shot. So I cannot imagine the state coming back again charging him with the same charge, said Lovemore Muvhiringi, a lawyer for Bronkhorst. (news.financializer.com). As reported in the news.

respondents: Disdain for Treasuries was another strong theme of the survey conducted on November 9 and one which has been borne out in subsequent days by the sell-off that brings the total of value wiped off bonds worldwide this week to 1 trillion, according to Bloomberg. A mere 2 percent of the 114 respondents recommended buying in. That may help explain why a similar portion of respondents said they were making no change to their cash holdings. The most popular post-election trade in the survey was buying the S&P 500, a preference 30 percent of investors subscribed to. 15 percent said they were selling risky assets, while 12 percent said buy gold. The poll also shows that investors are discounting fiscal stimulus not protectionism, as the note authors wrote, after 46 percent of the respondents said they expect Trump is most likely to proceed with corporate-tax repatriation and infrastructure spending plans during his first 100 days. Only 4 percent of respondents said the election result wont affect their plans. (news.financializer.com). As reported in the news.

rio tinto: The big four banks all rose over 2 per cent each, with NAB leading the gains, soaring 3.2 per cent to 27.54, according to Australian Broadcasting Corporation. Among miners, BHP Billiton added 2.5 per cent, while Rio Tinto climbed 3 per cent. Reuters Scott Audette Related Story Tech stocks fall, industrials rally on Trump US election win Map Australia Australian shares have ticked higher, led by ample gains in banks and miners, though further moves higher were tempered as investors more deeply analysed US President-elect Donald Trump policies. With Donald Trump now firmly elected as President, investors attention has turned to what impact his policies will have on the economy and who will be in his cabinet, said easy Markets senior market analyst Dominic Cook in a note. External Link Thuy Ong tweet asx and aud charts The ASX 200 rose 0.5 per cent to 5,357 by 12 05pm AEDT . The share market had jumped 3.3 per cent in the previous session, its biggest one day gain since October 2011. Market sentiment remains uncertain over the ambiguity of a Trump Presidency but his emphasis on manufacturing and threatening rhetoric towards NAFTA does not bode well for emerging markets. (news.financializer.com). As reported in the news.

trump victory: The setbacks capped one of the wildest trading weeks in recent memory that rocked global markets in the early hours of Trump victory, only for them to regain their footing, according to The Toronto Star. It not as positive a day today certainly as the last few had been, said Paul Vaillancourt, an executive vice-president of private wealth at Fiera Capital in Calgary. Rene Johnston / Toronto Star file photo By Aleksandra Sagan The Canadian Press Fri., Nov. 11, 2016 Gold, crude oil and the Toronto Stock Exchange all incurred heavy losses Friday as the markets grappled with lingering questions about what U.S. president-elect Donald Trump would do once in office. The markets are now dealing with the longer-term uncertainty of what policies a Trump presidency will bring in or repeal, said Vaillancourt. Article Continued Below December gold contracts lost 42.10 U.S. to trade at 1,224.30 U.S. per ounce. Even the price of gold, normally considered a safe haven in times of trouble, was in flux as everything acted topsy-turvy, he said. (news.financializer.com). As reported in the news.

world war: They were among more than 3 million German speakers expelled from Czechoslovakia in 1945 following Germany defeat in the second world war, in an officially ordered act of ethnic cleansing supposedly justified by Hitler aggression and permitted by war-time allies Britain, the US and the Soviet Union, according to The Guardian. Facebook Twitter Pinterest Erika Rahnsch. I could feel a shiver going up my spine, said the 87-year-old, recalling the sensation of trying to sleep in what had been her childhood bedroom before war and nationalist-fuelled revenge drove her family from the land they had lived in for centuries. Photograph Antonio Olmos for the Guardian Only in 2006 did Rahnsch finally return to the house of her upbringing in what had been the village of Falkenau-Kittlitz now Kytlice after its current Czech owner, Petr Kubat, heard her story and invited her to stay as a guest. By mutual agreement, both refer to the Kytlice home as our house . Their relationship has been showcased as a model of reconciliation by campaigners in the present-day Czech Republic promoting dialogue on a dark chapter in the country past the mass deportation and mistreatment of most of the country ethnic Germans on the grounds, frequently unfounded, that they supported the Nazis, who occupied the country from 1939 until the end of the second world war. They became firm friends, with Rahnsch visiting every year and Kubat, 48, who runs a dental equipment business, reciprocating with trips to her home in Waldkraiburg, Bavaria, a town established to accommodate postwar refugees. (news.financializer.com). As reported in the news.

amsterdam lisbon: The survey also found that 83 percent of the investors canvassed expected Britain exit from the European Union to damage Europe economy and 77 percent believed it would damage British startups, according to Deutsche Welle. London is widely seen as the main tech startup hub in Europe, thanks to its large pool of talent and a much bigger pool of funding than in rival centers. The poll, conducted among 224 venture capitalists attending the conference showed 53 percent believed AI would destroy millions of jobs and 93 percent saw governments as unprepared for this. Cities like Berlin, Amsterdam and Lisbon are eager to attract more tech startups. It now billed as the world largest IT event. Watch video 03 36ShareA robot as companion Send Facebook Twitter Google Whatsapp if typeof WURFL object if WURFL.is mobile && ! -1 WURFL.is mobile && ! -1 ; Tumblr linkedin stumble Digg reddit del.icio.us Newsvine Permalink http //dw/p/1JHg0A robot as companion The Web Summit, one of Europe biggest tech conferences, was held in Lisbon for the first time, with 53,000 attendees, after moving from Dublin where it was first launched in 2010. (news.financializer.com). As reported in the news.

countries people: States, according to The Japan Times. The nation first vote is cast in New Hampshire. Here is a selection of images that captured the gamut of emotion that emerged from the climatic event, including the reactions of countries and people outside the United. AP Polling station at the Princeton Baptist Church in Princeton, North Carolina. AP Grace Bell Hardison, a 100-year-old woman recently mentioned by U.S. President Barack Obama after attempts were made to purge her from the voter registration list and hence deny her right to vote, receives an I Voted Today sticker from an election official in Belhaven, North Carolina. REUTERS Voters wait to cast their ballots in Brooklyn, New York. (news.financializer.com). As reported in the news.

agm: While the unprecedented defeat of the Commonwealth Bank remuneration report at its AGM may not have the global significance of Donald Trump anti-establishment victory, it was driven by the same dynamics, according to Australian Broadcasting Corporation. In both cases, angry voters felt they had been taken for granted and exercised their power at the ballot box to shake things up. Dean Lewins Map Australia At the same time the political establishment of the United States was being overturned by an angry and disillusioned electorate, half a world away at the Perth Convention Centre a similar thing was happening in Australian banking. Never before has a big Australian bank - in this case the biggest and most powerful of the four pillars - been humbled in such a way by its shareholders. Mr Lawrence was very involved in the uprising, being part of an increasingly influential group of businesses advising big investors about governance issues in companies where they park their money. It is huge, was the reaction of Martin Lawrence from the proxy advisory firm Ownership Matters. (news.financializer.com). As reported in the news.

rise: By calling for a wall to curb immigration from Mexico and tariffs to restrict imports from China, the billionaire developer is challenging some of the basic tenets that have underpinned the rise of a more globalized economy over the past half-century, according to Bloomberg. Yet he twinned that radical approach with more orthodox policies straight from the Republican Party play book -- big tax cuts and wide-ranging deregulation -- that might end up spurring U.S. and global growth. function global function ad Code markets/article dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; There is considerable upside potential for the markets and the economy under Trump, but even more potential downside, said Andy Laperriere, a partner at Cornerstone Macro LLC in Washington and former Republican staffer on Capitol Hill. Now the question is whether he ll do the same for the U.S. and world economies. After plunging in pre-opening trading on fears that a Trump win would wreck the economy, U.S. stock prices bounced back Wednesday as investors focused on his plans to cut taxes and increase infrastructure spending and the fillip they would give to growth. Trump didn t flesh out many of the ideas he put forward during the campaign nor give much indication on who he ll appoint to top economic posts in his new administration. For now, there a lot more uncertainty than clarity about what the next president will do. (news.financializer.com). As reported in the news.

clinton: Nationwide, rural voters backed Trump over Clinton 62 percent to 34 percent, according to exit polling conducted by the Associated Press and television networks, according to Bloomberg. That compares with 61 percent for Romney and 37 percent for President Barack Obama in 2012. function global function ad Code politics/story dimensions id 1 0 3 1 9 strategy targeting ; ; window ; These counties are the heart of the traditional Republican base, but Trump is hardly a traditional Republican, a thrice-married Manhattanite and former reality television star who boasted of groping women. Trump scored some of his biggest margins in rural counties, places where the billionaire businessman pulled off a particularly tricky political feat convincing voters that he alone was able to understand their economic pain. Many rural voters, however, looked beyond Trump past, believing his testimony of finding a greater faith later in life. These are the folks who feel most disconnected from urban areas and a more global view of the world, said William Frey, a senior demographer at the Washington-based Brookings Institution. They also were ruthlessly pragmatic, making their hopes for a brighter economic future and a right-leaning Supreme Court for a generation central to their support. (news.financializer.com). As reported in the news.

goose: Richard Lautens / Toronto Star File photo By Francine Kopun Business reporter Thu., Nov. 10, 2016 Less than a month after opening its first store at Yorkdale Shopping Centre, Canada Goose Inc. has chosen bankers to lead an initial public offering, according to a Bloomberg report, according to The Toronto Star. Credit Suisse Group AG, Canadian Imperial Bank of Commerce and Goldman Sachs Group Inc. will lead the Toronto-based retailer stock market offering, according to the report, which cited unnamed sources. Reiss retained a minority position in the company when Bain Capital acquired a majority position in Canada Goose in 2013 for an undisclosed sum. The sale of shares in the company could happen as soon as 2017 and Canada Goose, which is backed by hedge fund Bain Capital, plans to seek a valuation of about 2 billion, according to the report. A representative for Bain did not respond to requests for comment. Representatives for Canada Goose, CIBC, Credit Suisse and Goldman Sachs declined to comment. (news.financializer.com). As reported in the news.

janet yellen: If there is one key global economic takeaway from Mr Trump election it is the prospect of increased inflation something central banks around the world have been desperately trying to manufacture since the global financial crisis, according to Australian Broadcasting Corporation. Yet markets, and many economists, appear convinced that Mr Trump can do what Janet Yellen and her predecessor as Fed chair, Ben Bernanke, could not. AP Mary Altaffer Map United States For those who think governments dont matter much anymore in free market economies, the election of Donald Trump and a Republican Congress highlights how influential policy can be. That is, to stoke price growth to the 2 per cent target. First, Mr Trump wants to cut taxes, both income and corporate, with the aim of reducing the nation 35 per cent company tax rate to 15 per cent, although most expect the price tag of this move to prove too costly to the US budget. There are three main reasons why analysts think inflation will go up under Mr Trump presidency. (news.financializer.com). As reported in the news.

donald trump: Group chief executive Bernd Scheifele hopes to boost revenues through the company US business, which currently accounts for about a quarter of total sales, according to Deutsche Welle. Scheifele said Heidel Cement was expecting to profit from the billions of dollars promised by Donald Trump, including from spending on one of the president-elect most controversial projects - a wall between the US and Mexico. On Tuesday, German concrete maker Heidelberg Cement Group said that it was in a positive mood about the medium-term effects of Trump economic policies, even though it expected a brief period of uncertainty and lower US growth. I dont know if the wall will be built - but if it does, it wont be made of wood, it will be made of concrete, and we will do good business through our subsidiaries in Texas and Arizona, he told a news conference. Trump wants to build a border wall to keep Mexican illegal immigrants out, and said he wanted Mexico to pay for the construction of the 3,000-kilometer-long structure. uhe/jd Reuters, Heidelberg Cement Group The company could, indeed, do with a boost to its bottom line, which slumped 29 percent to 339 million euros in the third quarter as a result of its 3.7.billion-euro takeover of loss-making Italian concrete maker Italcementi. (news.financializer.com). As reported in the news.

dow industrials: Investors pushed the Dow industrials nearly to a record close yesterday reversing a giant knee-jerk move lower as visions of trillions of dollars in spending by President-elect Donald Trump danced in their heads, according to Market Watch. Judging by the trading this morning, there a good chance the Dow could close by nailing that record today. While protestors unhappy with the election outcome have been climbing light-poles and blocking freeways, stocks are rolling out the welcome mat. Twitter Caption outside of wrapper for normal article images The stance he takes on trade will likely determine how vulnerable the markets are, but in reality, these are very long-term policies and for now, markets are more focused on the prospect of lower taxes, fiscal stimulus and less regulation, says Oanda analyst Craig Erlam. In equity space, thinking in index terms is probably the wrong thing to do now that the initial flurry has finished. Still, if you haven t changed the chip in your head on how to approach this market, now might be a good time, says blogger Macro Man. (news.financializer.com). As reported in the news.

indian: Xinhua/Tumpa Mondal Indian people walk past closed ATMs of various banks in Kolkata, India, Nov. 9, 2016, according to Global Times China. India Tuesday night abolished currency notes of 500 and 1,000 denomination in one of the biggest revolutionary monetary reforms since independence, aimed at curbing the menace of black money. India Tuesday night abolished currency notes of 500 and 1,000 denomination in one of the biggest revolutionary monetary reforms since independence, aimed at curbing the menace of black money. Xinhua/Tumpa Mondal An Indian security personnel guards inside a closed ATM in Kolkata, India, Nov. 9, 2016. Xinhua/Tumpa Mondal An Indian shop owner shows banned currency notes of 500 and 1,000 in Kolkata, capital of eastern Indian state West Bengal, Nov. 9, 2016. India Tuesday night abolished currency notes of 500 and 1,000 denomination in one of the biggest revolutionary monetary reforms since independence, aimed at curbing the menace of black money. (news.financializer.com). As reported in the news.

obamacare future: On Wednesday, the Dow Jones Industrial Average DJIA, 0.21% closed up 256 points to trade about 40-points shy of its all-time closing high, while the S&P 500 index SPX, -0.14% finished 1.1% higher, while the Nasdaq Composite Index COMP, 0.54% ended at 1.4%. On Thursday, stocks continued to forge a path higher, with the Dow hitting a fresh all-time record, though it is retreating somewhat in late-morning trade, according to Market Watch. Read How the stock market performs on, and after, Election Day Also read President Trump puts Obamacare future up in the air The initial reaction was decidedly negative, but short-lived. That is not how many had predicted this race for the Oval Office would play out, and in fact, polls indicated that Clinton would eke out a narrow victory. Dow futures YMZ6, -0.01%plunged nearly 800 points as the race turned in Trump favor late Tuesday and in the early hours of Wednesday. Indeed, the market actually fell when Trump was seen as gaining ground in the polls after the reopening of the Federal Bureau of Investigation probe into Clinton use of a private email server. Some market pundits had predicted that the S&P 500 would crash, shedding half its value. and that the dollar would get obliterated,in the event of a Trump victory. (news.financializer.com). As reported in the news.

points: The CSI 300 index of the 300 biggest companies traded in Shanghai and Shenzhen climbed 1.12 percent to close at 3,390.61 points, according to Global Times China. The Chi Next Index, which tracks China NASDAQ-style board for high-tech and emerging start-ups, rose 0.92 percent to 2,143.32 points. The benchmark Shanghai Composite Index jumped 1.37 percent to close at 3,171.28 points, while the Shenzhen Component Index finished 1.16 percent higher at 10,821.66 points. A total of 654 billion yuan 96.28 billion in shares changed hands on the Shanghai and Shenzhen exchanges on Thursday, about even with Wednesday figure. The Hang Seng index gained 1.89 percent to 22,839.11 points. Hong Kong stocks also rebounded on Thursday. (news.financializer.com). As reported in the news.

dow: Dow Jones hits record high on Trump bump, but London market falters - as it happened Read more But after initially struggling to find direction on Thursday the Dow closed up 218 points at 18807, a rise of 1.17%. The S&P 500 also gained slightly, rising 0.2% but the tech-heavy Nasdaq dipped 0.81%. Trump has clashed with Silicon Valley and threatened Apple, Nasdaq and the world largest company, over privacy and its overseas manufacturing, according to The Guardian. Apple dropped 2.79% on Thursday. Investors have been warned to brace for more sharp moves on financial markets as uncertainty endures over how Trump campaign rhetoric will translate into policies. Markets benefitted from a continuing sense of relief over Trump conciliatory tone in his early remarks, including those following his meeting with the US president, Barack Obama. The billionaire businessman vowed on the campaign trail to put American jobs first and scrap or renegotiate trade deals. However European shares, including London FTSE 100 index, could not hold on to their early gains as worries grew over the president-elect coming longer term impact on global growth due to his protectionist policies. (news.financializer.com). As reported in the news.

mary grant: It kind of ironic that it was a day after the elections occurred that they decided to rob the city of democratic rights, said Mary Grant, a researcher for Food and Water Watch, an advocacy group, according to The Guardian. It denying the people a voice in their own future, and it will likely result in the handover of their water system. The move threatens to lead to privatization of the city water, the undoing of local collective bargaining agreements and public worker layoffs in the city of 39,000. Both local officials and citizens opposed the takeover. Five casinos have closed since 2014, including two low-performing casinospreviously owned by the president-elect. The city Republican mayor, Don Guardian, said he would, keep all of our options on the table . Flint warnings as Atlantic City may be forced into state takeover of water Read more The city has been in dire financial straits since revenues to the state casino industry plummeted over the last 10 years. (news.financializer.com). As reported in the news.