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

dzamara: Those arrested include Patson Dzamara, a high-profile opponent of President Robert Mugabe and the ruling Zanu-PF party, who was found at a local hospital 24 hours after the car in which he had been travelling with another activist was discovered burnt out, according to The Guardian. Dzamara, who appeared to have been badly beaten with sticks or rods, according to pictures posted on social media, was one of the coordinators of a coalition of opposition groups that had pledged to shut down major cities in Zimbabwe on Friday to protest against corruption, alleged human rights violations and the bond notes. Many ordinary people fear the bond notes will trigger economic chaos, wiping out savings and livelihoods. Zimbabwe trillion-dollar note from worthless paper to hot investment Read more His brother, Itai, has been missing since being abducted by unidentified men in March last year. The British ambassador to Zimbabwe, Catriona Lang, said on Friday the UK was very concerned by reports of abductions of civil society activists . She said Rule of law, and freedom of expression are crucial for Zimbabwe future. Officials have said they are doing all they can to locate him. (news.financializer.com). As reported in the news.

gunpoint robbery: The audacious gunpoint robbery was dubbed the road gang heist, according to Nine News Australia. Twenty-two years later, police raided a Seddon property on Friday morning, arresting a 59-year-old local man. Five bandits posing as road workers stopped the fortified vehicle on the on-ramp to the Monash Freeway in Richmond before stealing the cash in June 1994. He due to appear in the Melbourne Magistrates Court later in the day charged with armed robbery, robbery, kidnapping, false imprisonment, vehicle theft, handling stolen goods and money laundering. In March 2014 they charged a Melbourne lawyer with attempting to launder some of the stolen cash. Purana Taskforce detectives reopened the case two-and-a-half years ago. (news.financializer.com). As reported in the news.

hangzhou china: Enrico Fels from the Center for Global Studies, University of Bonn, according to Xinhua China. Fels made the remarks during a speech at a seminar held here themed G20 in Hangzhou China, Germany and Global Governance. Although China and Germany do not see eye to eye with each other on some issues such as innovation and the level of development of the two countries is different, differences between the two countries would not hinder their cooperation, said Dr. With the 2017 G20 summit to be held in the German city of Hamburg, Germany will offer its insights on issues such as new financial risks, digital challenges and trade barriers, Fels said, adding that Germany shares similar views with China on these subjects. Huang Weiping, professor from China Renmin University, said G20 has become an important mechanism for global economic governance. China and Germany have a long history of economic cooperation and both countries have benefited a lot from such cooperation, the expert said. (news.financializer.com). As reported in the news.

brokers: Their behavior has taken on particular urgency this year, since the remarkable post-election Trump rally appears to have gotten ahead of itself, according to Market Watch. These brokers and analysts are just like the retailers who shamelessly roll out their Christmas decorations as early as Halloween. Every year as Thanksgiving approaches, brokers and analysts begin referring to an imminent Santa Claus Rally as a reason to be bullish. That because there is no statistical basis for believing in a Santa Claus Rally in November or December. Caption outside of wrapper for normal article images To be sure, brokers and analysts are rarely fazed by the absence of a strong statistical foundation, so it shouldn t be a surprise that belief in the Santa Claus Rally persists. In fact, the only seasonal year-end strength that does enjoy statistical support doesn t kick in until after Christmas. (news.financializer.com). As reported in the news.

dieser vergleich: Die werden jetzt durch eine Zahlung von 25 Millionen US-Dollar umgerechnet 23,6 Millionen Euro beigelegt, according to Deutsche Welle. Diese Einigung gab der New Yorker Generalstaatsanwalt Eric Schneiderman bekannt. Gegen Donald Trump waren wegen der von ihm gegr ndeten Trump Universit t Artikelbild von 2005 drei Gerichtsverfahren anh ngig Zwei Sammelklagen in Kalifornien und ein Fall in New York. Dieser Vergleich ist eine erstaunliche Kehrtwende Donald Trumps und ein gro artiger Sieg f r die Opfer seiner betr gerischen Universit t sagte der Jurist in New York. Doch zwei Bezeichnungen stechen besonders hervor Narzisst und Gesch ftsmann. 09.11.2016 Das Unternehmen Pr sident Der n chste US-Pr sident unterscheidet sich in vielerlei Hinsicht von seinen Vorg ngern. Die Redaktion empfiehlt Trumps Favoriten f r Sicherheit und Justiz Nach einem holprigen Start kommt Bewegung in die Kabinettsbildung des designierten US-Pr sidenten In den Bereichen Sicherheit und Justiz hat Donald Trump drei Kandidaten f r zentrale Spitzenposten gefunden. 18.11.2016 Donald Trump Der narzisstische Gesch ftsmann Fragt man seine Biografen, was f r ein Typ Trump sei, dann kommen Begriffe wie aggressiv, schlau, undiszipliniert und charismatisch. (news.financializer.com). As reported in the news.

donald trump: You have been quoted as saying there was no way Trump would win the election, according to Deutsche Welle. How could you be so wrong David Cay Johnston I regret it. In The Making of Donald Trump, the former New York Times reporter and registered Republican calls the president-elect a dictator and a deceiver with no regard for the people who elected him. Every bit of polling data at the time suggested that Hillary Clinton would convincingly win the popular vote, which in fact she did. And larger numbers of white working class voters than expected turned out at the polls, people who believed Trump was going to relieve their economic situation. The FBI director statement about Hillary Clinton e-mails 11 days before the election hurt her very badly. (news.financializer.com). As reported in the news.

index: The gauge ended the five days higher by 2.6 percent, according to Bloomberg. The S&P 500 Index rose 0.8 percent, with financials again contributing the most to the advance. The biggest beneficiary has been small caps, with the Russell 2000 Index rallying 11 straight days to cap its longest winning streak since 2003 as the dollar strengthened. Technology shares joined the rally after concerns over trade policies faded. The benchmark for American equity has added 2 percent since president-elect Donald Trump won the U.S. election, led by a surge in financial stocks and shares of industrial companies. The Dow Jones Industrial average edged up for the week after touching a fresh high on Nov. 15. (news.financializer.com). As reported in the news.

york: Jeremy Grimaldi / Metroland By Jeremy Grimaldi York Region news Thu., Nov. 17, 2016 A Justice who claimed to have suffered sleepless nights while considering a York Regional Police officer evidence, finally decided to reject it entirely, finding him guilty of sexually assaulting a 21-year-old student in the back of his cruiser, according to The Toronto Star. Police Const. Young Min von Seefried leaves the Newmarket Courthouse in August. Young Min von Seefried was convicted Thursday at the Newmarket courthouse, a judgment that could carry a sentence of 18 months in jail. The January 2015 incident began after Const. von Seefried was patrolling Markham streets near Woodbine Avenue and Yorktech Drive. The 34-year-old married father-of-two listened quietly as Justice Marquis Felix read out a lengthy judgment calling into question practically every portion of Const. von Seefried defence, calling parts flimsy, truly bizarre and nonsensical. (news.financializer.com). As reported in the news.

level: Elsewhere in Asia, foreign investors removed cash from emerging markets to seek out better US returns, traders said, according to Nine News Australia. In Asian trade, the euro slumped to 1.0582, the lowest level since early December last year. A surge in the dollar to a near six-month high against the yen provided another rally for Japan Nikkei, with a cheaper Japanese currency helping exporters. The greenback also reached 110.93 yen, a high since the end of May. Gold slumped to a near six-month low at 1,202.81 an ounce. The strong dollar weighed on both gold and oil prices which are priced in the unit on international markets. (news.financializer.com). As reported in the news.

markets authority: The regulator said it would also consult on the need for a competition investigation into the consultants that advise pension funds on which fund manager to select to look after their assets, according to The Guardian. It is the first time the FCA has used its powers to suggest a recommendation to the Competition and Markets Authority. The major companies, which manage 7bn of assets, should charge a single fee, the Financial Conduct Authority said, so investors could see how much they were being charged. It recommended a review into the investment consultant market in which three firms, Aon Hewitt, Mercer and Wallis Towers Watson, have a 60% market share. Andrew Bailey, the FCA chief executive, said Asset managers are responsible for the savings of millions of people in the UK, making decisions which affect their financial wellbeing both now and in the future. With interest rates low, investment funds look attractive Read more Much of the FCA year-long review was into the wider asset management industry which it found left investors unclear about the objectives of funds, and performance which was not always measured against an appropriate benchmark. (news.financializer.com). As reported in the news.

miner: Randgold Resoures is the biggest falling in the FTSE 100, down 380p at 57.05 despite unveiling a joint venture with Newcrest in the Cote d Ivoire, according to The Guardian. Mexican precious metal miner Fresnillo has fallen 64p to 13.24, while among the mid-caps gold miner Centamin has lost 7.2p to 132.7p. So precious metal miners are leading the market lower, with gold down more than 1%. The metal is priced in the US currency so is sensitive to dollar movements, and at the same time investors are turning away from its haven status, believing Donald Trump expansionary plans could boost corporate profits and equities. It is not just precious metal miners. Overall the FTSE 100 is currently down 47.05 points at 6747.66. Antofagasta has fallen 24.5p to 663p and Rio Tinto is down 77.5p at 2943.5p. (news.financializer.com). As reported in the news.

education report: But the school and the Yokohama Municipal Board of Education both failed to fully respond, the sources said, according to The Japan Times. The case is sparking a reaction on the internet, where some say adults who spread rumors about nuclear radiation are to blame for the impetus for the bullying. The local police notified the school in November 2014 that other students were demanding money from the 13-year-old boy some 1.5 million 14,000 in sum. According to a board of education report, the bullying started immediately after the boy moved to Yokohama in August 2011 while a second-grader. He eventually started missing school when he was in the third grade, the report said. The boy was called names such as germ, an apparent reference to the nuclear contamination caused by the Fukushima No. 1 nuclear power plant disaster that started in March 2011. (news.financializer.com). As reported in the news.

internet bubble: That the longest such streak since the 12-day stretch ending June 5, 2003, which was three months after the final bear-market bottom following the popping of the internet bubble, according to Market Watch. The index had soared 13.2% the first 10 days of the current streak, the best performance for a 10-day win streak since the index inception in July 1987, according to Sundial Capital President Jason Goepfert. The Russell 2000 index RUT, 0.47% of small-capitalization companies surged 0.5% to close Friday at a record high, and to extend its win streak to 11 sessions. In comparison, the Dow Jones Industrial Average DJIA, -0.19% climbed 5.4% over the same time. Therefore, many market watchers view Russell 2000 outperformance as bullish for the broader stock market, because it suggests investors have become more risk acceptant, and open to buying stocks of all sizes. Prior to Trump win, the Russell 2000 had been up 1.8% year to date, while the Dow was up 2.9%. Fact Set Caption outside of wrapper for normal article images Small-cap stocks tend to be less liquid than large caps, so are seen as more risky. (news.financializer.com). As reported in the news.

percentage point: Domestic demand has replaced foreign demand as the main driver of growth in the single currency area consisting of 19 European Union countries, according to Global Times China. Over the past two years, domestic demand has on average added more than a percentage point to GDP growth, supported by very accommodative financing conditions, the head of ECB added. The temporary rebound within 2010 and 2011 was essentially a jobless recovery whereas current recovery had reduced the unemployment rate to 10 percent at the current stage in the euro area, with labor participation rate expanding, Draghi said. He said economic recovery requires support from a strong banking sector, which has become more robust in terms of capital, leverage, funding and risk-taking under the global regulatory agenda steered by the G20 . So now is the time to finalise the regulatory agenda and enter a period of stability. Regarding potential risks weighing on recovery in the euro area, the ECB chief warned of the remaining prevalent geopolitical risks, the profitability of euro area banks, the weak inflation dynamics as well as the dependence of the economic recovery on easy monetary policy. The focus should be on implementation, not on new design, Draghi said. (news.financializer.com). As reported in the news.

settlement agreement: The settlement covers two class-action lawsuits filed in California and a civil suit filed by Schneiderman, according to Deutsche Welle. Under the agreement, Trump will also pay up to 1 million 944,000 euros for breaching New York education laws. Today 25-million-dollar settlement agreement is a stunning reversal by Donald Trump and a major victory for the over 6,000 victims of his fraudulent university, Attorney General Eric Schneiderman said. I am pleased that under the terms of this settlement, every victim will receive restitution and that Donald Trump will pay up to 1 million in penalties to the State of New York for violating state education laws, Schneiderman said. function link Color 0087eb, width 550, align center ; ; Trump was accused of misleading students by Trump University calling itself a university although it was an unaccredited school and by saying Trump had handpicked the lecturers. The settlement, however, does not require Trump to acknowledge any wrongdoing. The program also falsely promised students success in real estate through programs which cost up to 35,000. (news.financializer.com). As reported in the news.

tax rates: The stock market opened higher, with the Nasdaq Composite notching an intraday record, but failed to defend its gains, according to Market Watch. Still, key indexes rose for a second week in a row and the Russell 2000 RUT, 0.47% logged its 11th straight daily advance. Investors taking profits on the recent rally also pressured major indexes. The index has hit a series of records of late, as investors increasingly favor small-cap stocks. Many investors think that Trump policy proposals including massive cuts to corporate tax rates and financial and environmental deregulation will spur growth, inflation and higher interest rates. Read Trump win a windfall for stock market little guys The market has been steadily rising all month but the uptrend accelerated after the unexpected election of Donald Trump. (news.financializer.com). As reported in the news.

rate hike: China may allow slightly more yuan depreciation ahead of December expected Fed rate hike and likely greater currency pressure from the new U.S. government next year, according to a UBS report, according to Xinhua China. We expect the yuan to be at 6.9 by year-end and 7.2 at end-2017, the report said. The central parity rate of the yuan weakened 104 basis points to 6.8796 against the U.S. dollar, according to the China Foreign Exchange Trading System. Li Daokui, an economics professor at Tsinghua University, forecast that the yuan will likely weaken by 3-5 percent in 2017 against the dollar. Official data showed that China GDP expanded by 6.7 percent year on year in the third quarter, unchanged from the first two quarters. Despite recent declines, analysts ruled out the possibility of sustained yuan depreciation in the long term, as the country economic fundamentals remain solid and it continues to witness progress in economic restructuring. (news.financializer.com). As reported in the news.

bets: The dollar also posted its biggest two-week advance against the yen since the 1980s, according to Bloomberg. The U.S. currency appreciation over the past two weeks came as Treasury yields surged on bets the new administration will boost spending and spark an increase in inflation. The greenback has strengthened for 10 straight days against the euro, the longest rally since the shared currency debut in 1999. Fed Chair Janet Yellen suggested Thursday the central bank remained on course to tighten policy. function global function ad Code markets/article dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; U.S. dollar momentum has been strong, said Vassili Serebriakov, a foreign-exchange strategist at Credit Agricole CIB in New York. We could see some consolidation ahead of the Thanksgiving holidays, but I suspect markets will continue buying into any U.S. dollar pullbacks. The move has further to go. (news.financializer.com). As reported in the news.

trump: Now President-elect Trump is making that rotation great again, according to Bloomberg. The pivot out of fixed-income was so steep in the week after the election that analysts had to reach for a slew of superlatives straight out of the future president playbook a massive rotation from bonds to equities is afoot, wrote Jefferies strategist Kenneth Chan, in a wording echoed by Citigroup analysts. Nevertheless almost a year ago their equity strategists boldly questioned the idea that rising interest rates could prompt a Great Rotation, a phrase first coined by Bank of America Merrill Lynch. Violent was how Bank of America described the switch a point their phrase bond bloodbath may have already rendered moot. By 7 59 a.m. in New York the the S&P 500 was trading at 2,187.12 up almost 3 percent since Trump win, and near an all-time high. Sure enough as the Republican victory stokes expectations of both higher rates and government spending, investors are coursing out of fixed-income funds at a pace not seen since mid 2013, selling a net 18 billion worldwide in the week from November 10-16. function global function ad Code markets/article dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; Meanwhile the 31 billion that flooded into equities in the same period was the single greatest rush ever, according to Chan calculations. (news.financializer.com). As reported in the news.

turkey: The dollar stood at 3.3460 at the close on Nov. 17, according to Xinhua China. Turkey Economic Coordination Committee will meet later on Friday, under Prime Minister Binali Yildirim, state-run Anadolu Agency reported. The greenback climbed up to 3.4078 against the lira, its historic high, before it eased to 3.3970 liras as of 12 00 midnight. Turkey benchmark BIST 100 index, meanwhile, declined by 217.91 points to open at 74,918.31 on Friday. On Thursday, U.S. Federal Reserve Chair Janet Yellen told the Joint Economic Committee of Congress that Donald Trump victory in the U.S. presidential election has done nothing to change the Federal Reserve plans for a rate increase relatively soon. The index fell by 0.29 percent with the banking and holding sector indices losing 0.24 and 0.31 percent respectively. (news.financializer.com). As reported in the news.

university: The suits alleged Trump University failed to deliver on its promise to teach success in real estate, according to Nine News Australia. They accused the program of misleading students by calling itself a university when it was not an accredited school and by saying Trump hand-picked instructors. If approved, the deal announced by New York Attorney General Eric Schneiderman on Friday would settle a lawsuit he filed three years ago and two class-action suits filed in California on behalf of former students. Messages left with several of Trump attorneys and a spokeswoman were not returned on Friday. He told supporters at a May rally he would come to San Diego to testify after winning the presidency. Trump has denied the allegations and said during the campaign he would not settle. (news.financializer.com). As reported in the news.

dow industrials: Right up until the election, the stock market had built in a status-quo rally, believing Hillary Clinton would win, according to Market Watch. The bond market reacted, too prices dropped and U.S. Treasury benchmark yields, which drive interest rates, climbed to their highest in a year on expectations for greater inflation and new debt issuance in a new administration. Just look at how repeated record highs for the Dow industrials and a tag-along advance by the S&P 500 followed a knee-jerk overnight plunge when Donald Trump election win first materialized. The gap between yields on higher-risk corporate bonds and lower-risk government bonds narrowed as investors scooped up riskier bonds for their higher payout. Read Fund managers see global inflation, fear protectionism after Trump victory So is the stock market or the bond market smarter when it comes to predicting what next for broader financial markets and the economy Will inflation sour the growth outlook, and which market will reflect that sooner Stocks and bonds have always been thought of as great indicators of future economic activity. But these relationships were already taking shape, in advance of the final election result. (news.financializer.com). As reported in the news.

employment report: The package the EU executive arm presented includes the 2017 annual growth survey, a communication Towards a positive fiscal stance for the euro area the 2017 alert mechanism report, the 2017 draft joint employment report, the assessment of euro area member states draft budgetary plans for 2017, and a recommendation on the economic policy of the euro area, according to Global Times China. The European Commission called on EU member states to redouble their efforts to boost investment, pursue structural reforms and ensure responsible fiscal policies, and in doing so, put the focus on social fairness and delivering more inclusive growth. The package, which starts the 2017 cycle of economic governance, was designed for a stronger and more inclusive economic recovery, the European Commission said in a statement. At the 28-nation EU level, the package provided guidance for the EU outlined in its work program for 2017, including the strengthening of the investment plan for Europe. The European Commission argued that a moderately restrictive fiscal stance for the euro area would not seem appropriate given the need to sustain the recovery and in view of the current broader uncertainty. Looking at the euro area in particular, the European Commission called for a significantly more positive fiscal stance for the currency area as a whole to overcome the risk of low growth, low inflation, and to support the monetary policy of the European Central Bank. (news.financializer.com). As reported in the news.

apec summit: Mr Turnbull made the comments in a wide-ranging speech to the Business Council of Australia in Sydney on Thursday night, before flying to the APEC summit in Peru, according to Australian Broadcasting Corporation. He said the Australian economy must become more flexible and competitive but in the wake of Donald Trump election win in the United States, Mr Turnbull also emphasised the need for reform that was seen to be fair . We must not ignore the fact that the impacts of change can be borne unevenly across the community, Mr Turnbull said. Dan Himbrechts Related Story Australia to champion free trade as APEC talks begin Related Story Trump win to weigh heavily on world leaders at APEC meeting Map Australia Prime Minister Malcolm Turnbull says Australians will have to accept policies that create short-term winners and losers in the interests of strengthening the economy for all. To overcome disquiet we must ensure that the benefits of open markets deliver, and are seen to deliver for all Australians, not just a few. The need to undertake reforms to deliver long-term gains for all Australians, which may create winners and losers in the near term, isnt keenly felt in many parts of Australian society, Mr Turnbull said. The Prime Minister said 25 years of continuous economic growth in Australia sometimes made the case for changing economic policy more challenging. (news.financializer.com). As reported in the news.

bond prices: Bond prices have fallen and stocks have risen as investors anticipate that Trump proposals to cut taxes and boost infrastructure and defense spending will lead to faster inflation and stronger growth. function global function ad Code markets/article dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; Yellen testimony ignored the very real possibility of substantial fiscal stimulus next year, Ian Shepherdson, chief economist at Pantheon Macroeconomics Ltd., said in a note, according to Bloomberg. She does not want the Fed to become even more of a political punch bag than it is already. Yellen, who made no mention of the prospective policies of the incoming administration of President-elect Donald Trump, reiterated the expectation of Fed officials that future rate increases will be gradual. Yellen remarks will serve to cement expectations, barring a significant negative shock, for an increase in interest rates when the Federal Open Market Committee gathers in Washington Dec. 13-14. Risks of Delay The Fed chair warned of the risks attached to waiting too long before raising rates. Pricing in federal funds futures contracts already imply a greater than 95 percent chance of a quarter-point hike. (news.financializer.com). As reported in the news.

budget deficit: Launching its commission on Thursday, the IPPR said the apparent success of the economy masked fundamental problems weak investment compared with rival countries; a huge trade deficit; a budget deficit that would get bigger as the population ages; the capture of the fruits of growth by a small minority; the gap between the south-east and the rest of the country; and poor progress in meeting the UK climate change ambitions, according to The Guardian. The IPPR said none of the six problems identified were a recent phenomenon, with each getting worse for at least a quarter of a century. Justin Welby will join other leading figures including the general secretary of the TUC, Frances O Grady, and the chairman of the John Lewis Partnership, Sir Charlie Mayfield, on the Institute for Public Policy Research IPPR programme that will seek remedies for six key UK weaknesses. Tom Kibasi, the IPPR director, said The economy belongs to us all but it isn t working for everyone. The Brexit vote and the election of Donald Trump shows we must build an economy with economic justice at its heart. We need a new national economic vision and policy that the whole country can get behind. (news.financializer.com). As reported in the news.