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

donald trump: The thought that Mitt Romney would ever join the Cabinet of Donald Trump -- given their hostility, mutual contempt and venomous rhetorical exchanges -- might be the most absurd notion yet of a crazy political year, according to CNN. Donald Trump signals changing guard with national security team picks But the possibility that Trump and the man he labeled a choke artist could find common cause in the new administration was nonetheless a hot topic ahead of their meeting Saturday at the President-elect Bedminster, New Jersey, golf retreat. This would be a double act of denouncers. The 2012 Republican nominee, who once warned in a CNN interview that a Trump presidency would mean trickle-down racism and trickle-down bigotry instead sat down with Trump and discussed the job of secretary of state, an appointment that would make Hillary Clinton decision to serve in the same post under her 2008 primary rival Barack Obama seem routine in comparison. Read More We had a far-reaching conversation with regard to the various theaters in the world where there are interests of the United States of real significance. After the meeting, Romney offered no hint as to whether he was offered or would accept a role in Trump administration. (news.financializer.com). As reported in the news.

jimmy carter: He is the co-host of the podcast, Politics & Polls, according to CNN. The opinions expressed in this commentary are his own. He is the author of Jimmy Carter and The Fierce Urgency of Now Lyndon Johnson, Congress, and the Battle for the Great Society. (news.financializer.com). As reported in the news.

leaders recommit: Leaders recommit to free trade, sustainable economic growth and shared prosperity in the region, refraining from competitive devaluation of currencies and resisting protectionism, according to Nine News Australia. Globalisation being called into question contributing to protectionist trends which could pose a risk to common APEC objectives and aspirations. Climate change poses a risk. No deadline on the start of negotiations for an Asia Pacific free trade area but work to continue on its eventual realisation. Set of targets and goals APEC Services Competitiveness Roadmap to be put in place by 2025 to boost trade in services across the region. Aim to finalise the World Trade Organisation environmental goods agreement by the end of 2016. (news.financializer.com). As reported in the news.

libyan dinar: Over the weekend the Libyan dinar collapsed 7% against the US dollar and for the first time was trading at six to the dollar on the black market, according to The Guardian. The official rate is 1.4 dinars to the dollar 1.74 to the pound . Libya crisis talks held in London as economy nears collapse Read more Western leaders and financial institutions including the World Bank intervened directlyintervene directly in Libyan economic decision-making this month, bringing politicians and technocrats to meetings in Europe to hammer out an agreement. The credibility of Fayez al-Serraj government of national accord GNA is waning despite the support of the US, France, Italy and the UK, and its leadership has been unable to unite the country. As a result of meetings in Rome and London, it was agreed that a Libyan economic plan for 2017 would be published by 1 December. Serraj has been trying to oust the central bank governor, Saddek al-Kabir, who has resisted Serraj demands to release funds to help fund his government and public services. It is likely to include as yet unspecified measures on the currency and the lifting of fuel subsidies. (news.financializer.com). As reported in the news.

malcolm turnbull: Paul Keating The Big Picture Leader Scribe is the work of historian and columnist Troy Bramston, drawing on 15 hours of new interviews with the former Labor leader as well as interviews with many of the key political players since the Gough Whitlam era, according to Nine News Australia. Keating says neither Malcolm Turnbull nor Shorten have the vision or ambition Australia demands. Former prime minister Paul Keating offers his views on the state of the nation and gives scathing character assessments of a number of Labor figures including Bill Shorten in a new book published on Monday. We have had a leadership deficit in as much as the leadership has not been able to frame a new economic and strategic agenda for Australia, he says. It cant be simply laid off to other people. To change a country, you have to pull the responsibility for it down on to your own shoulders. (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, 0.50% 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, 0.47% 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.

michael flynn: Michael Flynn, said he didnt know whether the 2013 sarin gas attack in Syria was conducted by the Syrian Army or by other forces in an attempt to draw the United States into the conflict, according to CNN. Gen. (news.financializer.com). As reported in the news.

policy stance: The 5 trillion market has outperformed all its developed-nation peers since late June, buoyed by a weakening yen, a more favorable monetary policy stance from the Bank of Japan and the return of overseas money managers, according to Bloomberg. The Topix index joined the Nikkei 225 in a bull market on Monday, adding 1 percent to 1,442.93 at the close in Tokyo. So say Citigroup Inc., Alliance Bernstein and Bordier & Cie, who all see further gains for Japanese shares after the Nikkei 225 Stock Average climbed more than 20 percent from this year low. The broader stock gauge is up 21 percent from its low in February. function global function ad Code dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; It a dramatic recovery for a market that sank at least 18 percent in the first half as the yen strengthened and investors lost confidence in Prime Minister Shinzo Abe ability to revive economic growth. The Nikkei 225 average bull market since 1970 has delivered a 90 percent gain over more than 600 calendar days, four times longer than the index current advance from its June low. While skeptics warn that the gains are vulnerable to weak domestic demand and any number of potential surprises from U.S. President-elect Donald Trump, optimists can take heart from Japan history of sustained rallies. (news.financializer.com). As reported in the news.

teachers: In so doing, she will be acting as a pioneer for the charity Now Teach, which she co-founded earlier this year, according to The Guardian. It was set up to encourage high-flying professionals in the business world to retrain as teachers and help to address the shortage of maths and science teachers. From next summer, she will begin a new career as a maths teacher in a challenging London secondary school. Kellaway said I ve had one of the nicest jobs in journalism by writing a column for 22 years. I think teaching is hugely important and I m in the luxurious position of being able to take on the task. I love it, but I don t want to spend my entire life doing it. (news.financializer.com). As reported in the news.

trump: The summit comes just over a week after Donald Trump won in the US presidential election, casting doubt on whether the largest ever US-proposed trade deal, the Trans-Pacific Partnership TPP would come to fruition, according to Australian Broadcasting Corporation. Mr Trump campaigned against the TPP and the North American Free Trade Agreement NAFTA as bad for US jobs. AP Esteban Felix Related Story Turnbull arrives at APEC Summit after failed bid at Trump meeting Related Story Australia to champion free trade as APEC talks begin Map Peru Chinese President Xi Jinping has pledged to further open China economy, as leaders of Asia-Pacific countries sought new trade options at this year APEC meeting in Peru. He said he would scrap the TPP and threatened to impose tariffs on imports from China and Mexico. Mr Xi has been selling an alternate vision for regional trade by promoting the Beijing-backed Regional Comprehensive Economic Partnership RCEP which as it stands excludes the Americas. Chinese delegates said Beijing would take the lead on trade if Washington turned toward protectionism. (news.financializer.com). As reported in the news.

week gains: Friday 0.5 per cent fall in the MSCI global index wiped out the week gains, although breaking it down the big winner was Japan up 3.4 per cent helped by unexpectedly strong GDP numbers the US was up 0.8 per cent, while Australia and Europe down 0.2 per cent and 0.3 per cent respectively were among the laggards, according to Australian Broadcasting Corporation. The three key US indices all finished down 0.2 per cent on Friday, as some of the winners of the Trump Rally such as healthcare stocks were sold off a bit. Reuters Carlo Allegri, file Related Story Donald Trump and Janet Yellen head-to-head Related Story Is the commodities bull market out of puff as speculators run for the exits Map Australia While global markets had a pause to gather their thoughts and take some profits off the table at the end of the week, ASX futures trading points to a marginal rise on the Australian market opening. Markets on Friday close ASX SPI 200 futures 0.1pc at 5,369 73.45 US cents, 69.35 euro cents, 59.48 British pence, 81.30 Japanese yen, NZ1.05US Dow Jones -0.2 at 18,868 S&P500 -0.2pc at 2,182 NASDAQ -0.2pc at 4,808Europe FTSE -0.3pc at 6,776 DAX -0.2pc at 10,665 Eurostoxx50 -0.7pc at 3,021Commodities Brent oil 0.8pc at US46.86/barrel, Gold flat at US1,208/ounce, Iron ore -0.2pc at US73.30/tonne US dollar continues to rise as bonds sink The big trades of the Trump Rally remain in place, despite the cautious end to the week. The rising US dollar also acted as counterbalance to US stocks, although it is not necessarily always the case according the AMP Capital strategist Shane Oliver. The greenback is getting stronger and bond prices continue to fall as the betting higher interest rates shorten. (news.financializer.com). As reported in the news.

dollar advance: However, the dollar advance began long before the election when Trump was still behind in the polls, according to Market Watch. The first question we have to answer is whether the dollar run is sustainable. Some fear that the Trump administration trade policy may add to emerging markets problems. The long-term chart shows a rather important upside breakout about two years ago. It did not feel like much of an event since the greenback settled into a trading range. See Chart 1. (news.financializer.com). As reported in the news.

donald trump: Peruvian President Pablo Kuczynski said global trade stopped growing in the last two years and would worsen if nations closed off their economies, according to Deutsche Welle. It is fundamental that world trade grow again and that protectionism be defeated, said Kuczynski, a US-trained economist and former investment fund manager. Following the United Kingdom vote to leave the EU in June and the United States electing Donald Trump as president earlier in November, there is concern at the APEC meeting over the threat to free trade. Anyone who wants to promote protectionism should read an economic history of the 1930s. US Trade Representative Michael Froman reassured leaders that US policy would not experience a dramatic change once Trump takes office in January. A delegate at ministerial meetings on Thursday and Friday said that APEC ministers were concerned over protectionism in the United States and that the mood was somber. (news.financializer.com). As reported in the news.

government officials: But government critics have said the charges are baseless and politically motivated. 30.06.2016 US Justice Department aims to seize one billion dollars in Malaysian assets The US Justice Department has filed lawsuits against a state fund in Malaysia over alleged money laundering, according to Deutsche Welle. The scandal has embroiled a number of high-profile government officials both inside and outside Malaysia. 20.07.2016 Thousands of yellow-clad anti-government protesters marched in downtown Kuala Lumpur Saturday demanding the resignation of the country leader over a multibillion-dollar misappropriation scandal. Activists say the legislation is responsible for stifling dissent and muzzling freedom of expression. 16.11.2016 Malaysian opposition figure cries foul over indictmentA vocal critic of the Malaysian prime minister has been charged with corruption in a further blow to the country opposition. We want to see Malaysia more developed and not robbed of billions of ringgit Malaysia currency said Wan Aishah Wan Ariffin, an opposition supporter. Some were chanting Save Democracy and Bersih, Bersih, the name of the electoral reform group that organized the rally. Police barricaded key roads and put water-cannon trucks on standby, but it did not stop protesters. (news.financializer.com). As reported in the news.

growth: Amid slowing global trade growth and rising protectionism, progress toward the Bogor Goals and the Free Trade Area of the Asia-Pacific FTAAP are top on the meeting agenda, according to Global Times China. The AELM is a top-level meeting under the APEC institutional framework. Leaders and their representatives from 21 member economies of the Asia Pacific Economic Cooperation APEC will discuss the future of international trade policies, economic growth and improvement of living conditions under the theme Quality Growth and Human Development. The idea of APEC was first publicly proposed by former Australian Prime Minister Bob Hawke during a speech in Seoul, Korea on Jan. 31, 1989, in response to growing interdependence between countries in the region and the establishment of regional trade blocs elsewhere in the world. APEC had been operating at the ministerial level until November 1993 when the mechanism of APEC Economic Leaders Meeting was adopted, which brings together heads of state and representatives of member economies to determine strategic policies for the bloc. In November 1989, the first APEC Ministerial Meeting was held in Canberra, Australia, which marked the official establishment of the regional bloc. (news.financializer.com). As reported in the news.

i dont: In addition, our cross-border capital flows are within a normal range, according to Global Times China. Therefore, I dont believe there is any ground for persistent depreciation of the RMB, the advisory council deputy chief, Wang Hongzhang, who is also the chairman of China Construction Bank, told Xinhua in an interview. China has a healthy balance of international payments, thus remains competitive internationally. From a long-term perspective, the rise and fall of exchange rates are closely linked to the balance of payments under the current account. In the first half of 2016, China exports declined by 3.3 percent year on year due to weak external demand. With a huge current account surplus, there is no basis for persistent depreciation of the RMB, Wang said, adding that China current account surplus was 644.8 billion US dollars in the first half of 2016, or 2 percent of the gross domestic product GDP for the same period. (news.financializer.com). As reported in the news.

index comp: The noted powerhouse here has been financials, which has rallied nearly 11% since Nov. 8, according to Market Watch. While some profit-taking has taken place, renewed interest following that profit-taking is a healthy sign for the sector, Pavlik said. Stocks finished higher for the week on Friday with the Dow Jones Industrial Average DJIA, -0.19% gaining 0.1% on the week, the S&P 500 index SPX, -0.24% rising 0.8%, and the Nasdaq Composite index COMP, -0.23% finishing up 1.6%. Since Election Day and Donald Trump surprise presidential win, the Dow has climbed 2.9%, the S&P 500 has gained 2%, and the Nasdaq has risen 2.5%. One thing to note is how certain sectors have jumped following the election and how that plays out, said Robert Pavlik, chief market strategist at Boston Private Wealth, in an interview. Caption outside of wrapper for normal article images Health-care stocks just starting to underperform S&P 500 post-election. That a healthy sign. Investors are not willing to sell out of recent purchases and there is new interest if there a little giveback, the same with industrials and materials, Pavlik said. (news.financializer.com). As reported in the news.

record crimes: It invites me to ask a provocative question, according to Deutsche Welle. After the arrival of so many refugees, can we expect a wave of crime or even terrorism No! You cannot say that. This year autumn conference was titled Crime in Germany under the influence of global crises and conflicts. Since autumn last year, we have put together a status report in which we record crimes that have been committed by immigrants. We found that with people from Syria, Iraq and Afghanistan, crime levels are below average in relation to the number of immigrants. We have discovered that the crime levels are below what could be expected when you look at how many immigrants we have. (news.financializer.com). As reported in the news.

pact: The Board of Management of the German automobile giant signed a pact for the future with its labor union, in order to bring Volkswagen brand back to a path of profitable growth, according to Global Times China. The pact is expected to make Volkswagen earnings annually add by 3.7 billion euros by 2020, among which 3 billion euros stem from German facilities, according to the statement. At the meantime, 9,000 new jobs in future-oriented areas where 3.5 billion euros about 3.71 billion US dollars would be invested, are planned to be created in Volkswagen plants in Germany, said the company. Chairman of the Volkswagen Brand Board of Management Herbert Diess said in the statement, the pact represents a fundamental transformation of the value stream, the development of new competences and strategic investment. We will be transforming the entire brand and making it fit for the fundamental transformation of our industry, he added. 1 euro 1.06 US dollars (news.financializer.com). As reported in the news.

beach house: As Hall approached his beach house, the artist emerged on to the balcony, according to The Guardian. Mr Rauschenberg, so good to see you again, Hall called up Rauschenberg was a regular customer . Oh, Matt, don t call me Mr Rauschenberg. A mutual acquaintance had approached Hall, then sous chef at a restaurant on the island of Captiva, off Florida, to see whether he would be interested in managing the artist property nearby. Call me Bob, came the reply. It reminds me of the joke about the dyslexic who tried to commit suicide he jumped behind the train. I don t know why, remembers Hall, sitting in the lounge of a glorious beach house with a yellow and blue Rauschenberg collage hanging on the wall, but I said, Bob backwards or forwards, it spelt the same. (news.financializer.com). As reported in the news.

currency appreciation: Traders see an interest-rate increase next month by the Federal Reserve as a virtual lock, enhancing the appeal of dollar holdings, according to Bloomberg. The U.S. currency appreciation over the past two weeks came as Treasury yields surged on bets the Republican president-elect spending pledges will spark faster inflation. The greenback touched the strongest level against the yen since May and appreciated the past 10 trading sessions versus the euro, an unprecedented streak. Fed Chair Janet Yellen suggested Thursday the central bank remained on course to tighten policy next month. function global function ad Code markets/article dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; It right to assume that if we get sizable fiscal stimulus, it is and should be dollar-positive, said Daragh Maher, head of U.S. currency strategy in New York at HSBC Holdings Plc. The U.S. currency added 7.6 percent over the past two weeks to 110.91 yen, and reached the highest since May. That the fixation and you don t fight it. (news.financializer.com). As reported in the news.

elizabeth warren: With the economy booming, Donald Trump is returned to the White House in a landslide, according to The Guardian. His pitch to voters has been simple I kept my promise. The Democrat candidate, Elizabeth Warren, fought bravely but the outcome was never really in doubt. America is great again. Still stunned by Hillary Clinton defeat, they have taken comfort from their belief that the billionaire property tycoon will prove to be a one-term president exposed as a dangerous charlatan as soon as he takes office. For Trump opponents, this is the nightmare scenario. (news.financializer.com). As reported in the news.

leaders: The US president and other top world leaders, including China Xi Jinping and Russia Vladimir Putin, are in Lima, Peru for an Asia-Pacific Economic Cooperation APEC summit whose staid agenda has been hijacked by the Republican billionaire shock election win last week, according to Nine News Australia. On Saturday, Mr Obama will meet leaders of the 12 countries negotiating the Trans-Pacific Partnership, or TPP, a vast US-led trade accord that Mr Trump opposes and now faces an uncertain future. AFP Barack Obama faced tough questions Saturday about Donald Trump victory on the last foreign visit of his presidency, to a summit of Pacific leaders that has been upended by the US election and concerns about China rise. Although the White House admits the chances of passing the deal are slim, Mr Obama will urge leaders to give the new president time to formulate his policy. But there is little chance Mr Trump Republican allies in Congress would ratify TPP anytime soon. From Mr Obama down, officials have stressed that the election has not changed US economic and strategic interests, and that Mr Trump may yet recalibrate his views. (news.financializer.com). As reported in the news.

recovery: But, in a story of revival that mirrors the recovery in the Cypriot economy, the bank is now eyeing a listing in London and outlining plans to expand in the UK. Chief executive John Hourican who got the top job after leaving Royal Bank of Scotland amid the controversy of its Libor fine in 2013 was in the City last week explaining how he intends to make the bank attractive to investors, according to The Guardian. The details are still sketchy. It had been forced under the terms of a 10bn bailout of the country to seize cash from its savers and was being kept afloat by billions of euros pumped in from the central bank. An initial listing is targeted for early next year but the main plan is to get into good enough shape to gain a place in the coveted FTSE indices that will help lure in big-money investors. Just 800m of emergency funding from the central bank still needs to be repaid, a small sum compared with the 11.4bn equivalent to 70% of the country GDP that was required to keep it afloat in 2013. Nonetheless, it is a sign of the impressive ambition Hourican has for a bank that, as he has admitted, is still in repair some 58% of its loans are still non-performing in default or close to it . But there are positive signs. (news.financializer.com). As reported in the news.

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.