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

austerity policies: He urged for more support to the people most-affected by the debt crisis as well the refugee- migrant crisis, according to Global Times China. The Greek President called for the replacement of the current austerity policies which lead to dead ends with strategies which can fix fiscal indexes and ensure both sustainable economic development and social cohesion. In 2017 we can and we must regain hope and optimism, Greek President Prokopis Pavlopoulos said in his New Year Eve message. Greek Prime Minister Alexis Tsipras outlined his government's achievements in 2016. We aspire that 2017 will be the year our country will take the great leap forward, the year confidence in the Greek economy and stability will be strengthened, Tsipras said. We stabilized the Greek economy, we entered at last positive growth rates, we reduced unemployment rates by 3 percent... With hard work we exceeded the bailout program's goals, he said. (news.financializer.com). As reported in the news.

air system: This modification continues the integration work to implement the development and delivery of the F-35A Air System to the Republic of Korea under the Foreign Military Sales program, a statement said, according to Global Times China. The work will be carried out in Fort Worth, Texas, and is expected to complete by August 2019. The contract is a modification of a previous 920-million-dollar deal for Lockheed Martin to manufacture 94 various models of F-35s for the United States and its allies. The Foreign Military Sales program allows the Pentagon to facilitate contracts between foreign governments and US arms manufacturers. He has also complained that the new Air Force Ones, built by Boeing at 4 billion dollars each, are too expensive. US President-elect Donald Trump has recently blasted Lockheed Martin for the out of control costs of its F-35s. (news.financializer.com). As reported in the news.

amiridis body: Amiridis' body was found in this burned-out rental car His corpse was found Thursday evening in his burned-out white rental car parked under a highway overpass at Nova Iguacu, 41 kilometers 25 miles north of Rio de Janeiro, according to Deutsche Welle. Amiridis had been declared missing by his wife, Francoise, on Wednesday. Evaristo Pontes Magalhaes, Rio homicide division chief, told a news conference on Friday that Ambassador Kyriakos Amiridis was murdered in a crime of passion. She and the suspected officer were later taken into custody and questioned. The O Globo newspaper had earlier reported that blood was found on a couch inside the Amiridis home in a northern Rio suburb. Magalhaes has alleged that Francoise, 40, and the accused police officer Sergio Moreira, 29, had arranged the murder a few days in advance. (news.financializer.com). As reported in the news.

bank accounts: It wasn't clear how long the limits would be in place, according to The Japan Times. In a surprise announcement Nov. 8, Prime Minister Narendra Modi said India was withdrawing 500- and 100-rupee bills as legal tender in order to crack down on tax evasion and corruption. According to a statement from the central bank late Friday, the daily limit on ATM withdrawals will go up to 4,500 rupees 66 from 2,500 37 rupees, but the weekly cap on withdrawals from bank accounts will remain at 24,000 rupees Saturday onwards. He also said the move was intended to push India away from its massive dependence on paper money toward digital transactions. The prime minister was slated to make a televised New Year's Eve address later Saturday, and there are expectations he will talk about measures that will follow the country's demonetization drive. The deadline for exchanging or depositing the old currency in bank accounts passed Friday. (news.financializer.com). As reported in the news.

chinese: This is a consequence of the growing presence of the Chinese currency in Latin America thanks to the region's deepening financial cooperation with China and the internationalization of the RMB. On Oct. 1, the RMB was added to the International Monetary Fund IMF 's Special Drawing Rights basket, a supplement to a shortfall of preferred foreign exchange reserve assets, namely gold and the US dollar, according to Global Times China. This has brought the Chinese currency to a new level of international fame, and it is now not unusual to see shopkeepers in Buenos Aires' antiques markets accept RMB from Chinese tourists. All these pleasures may soon be paid for with a wad of crisp 100 renminbi RMB bills. The 100-RMB notes are already frequently used in commercial exchanges in Argentina, Brazil, Chile and Suriname, countries with which China has currency exchange agreements. Beyond having the Union Pay logo added to signs that traditionally welcomed only Visa, Master Card and American Express, the Chinese rival is also seeking to launch Union Pay cards in local markets. The growing cooperation also allows China's Union Pay bank cards to be used in 12 Latin American countries, including Mexico, Brazil, Argentina and Peru. (news.financializer.com). As reported in the news.

employment economists: Full employment, according to Market Watch. Economists, investors and analysts have little agreement on what full employment actually is, making it difficult to determine if the economy has reached that point or what additional steps are needed to get there. More than seven years into the economic expansion, there's a final frontier remaining. Seven and a half years in, it's also thoroughly hackneyed to say that any one economic indicator is more important than others. Friday's report will tell us how many net new jobs were created in December, the first full month of hiring after the election surprise. But after a quiet holiday lull that followed one of the biggest political upsets in recent history, the January 6 nonfarm payrolls report will certainly command attention. (news.financializer.com). As reported in the news.

tattoo size: In order to use the facilities, Hardie was asked to sign a contract in which she agreed to cover up the tattoo while on the premises and stop coming to the gym if anyone noticed it, according to The Japan Times. It's a good example of the country's stigma against tattoos. Hardie is no gangster, but she does have a small tattoo the size of a butterfly on her wrist. Foreign residents and tourists with tattoos can come across widespread prohibitions posted at public baths, hot springs and even swimming pools. And yet tattoos have long been a traditional part of the country's culture. Such rigid rules also apply to Japanese folk as well. (news.financializer.com). As reported in the news.

allerdings auch: Er erz hlte im Interview mit dem italienischen TV-Sender Sky Sports von der Mega-Offerte, einen Vereinsnamen nannte er dabei aber nicht, according to Deutsche Welle. Chinesische Klubs holen derzeit f r astronomische Summen teils bekannte, teils weniger bekannte Fu baller ins Land. Ronaldos Berater Jorge Mendes ist allerdings auch die einzige Quelle f r diese Geschichte. Letzter Gro transfer war der Argentinier Carlos Tevez von den Boca Juniors Buenos Aires zu Shanghai Shenhua. Davor war der Brasilianer Oscar f r 71,5 Millionen Euro vom FC Chelsea zu Shanghai SIPG gewechselt. F r ihn wurden gut zehn Millionen Euro auf den Tisch gelegt. (news.financializer.com). As reported in the news.

asian stability: It's no mystery that U.S. President-elect Donald Trump is gearing up for economic battle with China's leaders, according to The Japan Times. He's vowed to kill the U.S.-led Trans-Pacific Partnership, hinted at changing the one-China policy toward Taiwan and telegraphed security and environmental skirmishes to come. The 2011 work takes on new relevance now that one of its co-authors, Peter Navarro, is advising a Trump administration girding for confrontation in Asia. Uncertainty surrounding the Trump White House is but one of five major political risks facing Asia investors in 2017. Asian stability gets trumped It's the politics, stupid. Here's a glimpse of what's to come. (news.financializer.com). As reported in the news.

battery-production ramp-up: Also Elon Musk plans crazy 2017 for Tesla, but Solar City may be the biggest headache Baird is of the opinion that battery sales are increasing and should get another boost from a battery-production ramp-up that will coincide with the launch of the Model 3, the all-electric sedan Tesla hopes to start selling late next year for about 35,000, according to Market Watch. We recommend accumulating shares ahead of additional details being released about TSLA's current battery costs and density metrics, and believe the upcoming Gigafactory tour on January 4 will be a positive catalyst for the stock, he wrote. We believe TSLA's TSLA, -0.46% energy storage business and growth opportunity is not currently reflected in share prices, Kallo wrote in a note. Baird is hosting a dinner with Tesla management on Jan. 3 and is slated to tour the Nevada plant the following day. Tim Higgins takes a look at three new models at the L.A. Auto Show. E-SUVs Jaguar, Tesla and Audi break into market 1 52 With SUVs driving the luxury autos market here in the U.S., car makers are now exploring all-electric versions. (news.financializer.com). As reported in the news.

bulgaria romania: Shortly after Bulgaria and Romania joined the European Union, the foundation stone was laid and in 2013, the New Europe Bridge was officially inaugurated with a celebration whose guests included prominent officials from Brussels, according to Deutsche Welle. Today, one cannot detect any signs of the long-desired economic upturn in the region. But it only became reality in 2007. Neighbors but not close Irena Vasileva lives in the Bulgarian city of Vidin and has walked across the almost two-kilometer-long 1.2 miles bridge over 50 times. But that didn't happen, says Vasileva, who works as a journalist. Many people thought that the bridge over the Danube would create new jobs in Vidin. (news.financializer.com). As reported in the news.

ethiopian troops: But to settle for that explanation risks missing a more nuanced picture that reveals problems within the United Nations peacekeeping system and AMISOM itself as it battles al-Shabab in Somalia, according to Deutsche Welle. The withdrawal of Ethiopian troops certainly gives al-Shabab an opportunity to regain control of settlements it had previously lost, said Paul Williams, a peace and security expert. As Islamist al-Shabab militants, who have links to al Qaeda, retook a number of towns in their absence, many commentators were quick to diagnose the redeployment as a reaction to help Ethiopian security services subdue internal protests rocking the country since November 2015. And it will be a major boon for its forces and its propaganda machine. Sierra Leone withdrew its battalion of troops in early 2015. AMISOM has grown from an initial deployment of 1,500 Ugandan soldiers in 2007 to a multi-national African force of over 21,000 soldiers, with troops from Burundi, Ethiopia, Kenya, Djibouti, and Uganda. (news.financializer.com). As reported in the news.

flash crash: The move was reminiscent of the flash crash that briefly took the pound to record lows earlier this year, and was blamed on algorithmic trading, according to Market Watch. The move was also seen as exacerbated by the thin liquidity that is typical in the final trading week of the year. The euro EURUSD, 0.2669% traded at 1.0534 from 1.0556, though it earlier jumped from around 1.0490 to briefly trade around 1.0700 in a matter of moments its highest level in two weeks. Surpassing the 1.05 level triggered substantial algo orders, said Ipek Ozkardeskaya, senior market analyst at London Capital, in a note. She added that a further downside correction could be expected. Thin holiday volumes aggravated the quake. (news.financializer.com). As reported in the news.

stock: The index broke its previous year-end close for the fifth year in a row and ended up 0.4 percent for 2016, according to The Japan Times. The broader Topix index of all first section issues on the Tokyo Stock Exchange finished 0.22 points, or 0.01 percent, higher at 1,518.61. The 225-issue Nikkei Stock Average lost 30.77 points, or 0.16 percent, from Thursday to close at 19,114.37. Decliners were led by electricity and gas, mining, and iron and steel issues. Investors moved to take profits from recent gains made since hopes grew for the economic policies of the incoming administration of U.S. President-elect Donald Trump, said Chihiro Ota, general manager of investment research at SMBC Nikko Securities Inc. The Nikkei stock index briefly fell below 19,000 for the first time in three weeks as traders took money off the table. (news.financializer.com). As reported in the news.

trading: However, trading volume was light, as is typical for the final trading week of the year, according to Market Watch. Markets will be closed for the New Year's Day holiday on Monday. The day's losses were broad, with all but two of the 11 primary S&P 500 sectors ending lower. Whatever moves we're seeing today are definitely exacerbated by low trading volume, as there are no major stories moving markets, said Steve Sosnick, equity-risk manager at Timber Hill/Interactive Brokers Group. See also These are the best and worst performing assets of 2016 Read These ETFs could make your 2017 a happy new year Wall Street stocks have been in a particular uptrend since last month's presidential election, which sparked a rally that has contributed the bulk of the year's gains. Some people may be rebalancing their portfolios ahead of year-end, and if you're trying to make major portfolio changes on a light-volume day, it will definitely cause the market to move. (news.financializer.com). As reported in the news.

trans-pacific partnership: His attack on international trade, and especially his intention to withdraw from the Trans-Pacific Partnership, will allow China to seize the economic lead in Asia, according to The Japan Times. Trade is good for the United States as well as other nations. But his economic policies are likely to have the opposite effect. Not just Americans who sell products and services abroad. Trade offers especially large benefits for lower-income households, whose members gain the most from lower prices on basic goods, which act as an income boost. But Americans who buy inexpensive products and services from abroad. (news.financializer.com). As reported in the news.

cooperation package: The move is out of step with the Group of Seven policy of imposing sanctions over Moscow's annexation of Crimea in 2014, according to The Japan Times. The package, worth 300 billion 2.6 billion was welcomed by Russian President Vladimir Putin at his summit with Abe in Japan earlier this month. He has proposed an economic cooperation package including joint development of the disputed territory. But at home, the reaction has been more equivocal. The economic cooperation package targets eight areas, including energy, health care, urban development and industrializing the Russian Far East, a depopulated and underdeveloped region in which Putin is eager to spur growth. Japanese companies have raised concerns about the profitability of the proposed projects and the potential to pave the way for further opportunities in Russia, while doubts have also arisen about whether the initiative will really help deliver the islands back to Japan. (news.financializer.com). As reported in the news.

cost overruns: Toshiba says it will be weeks before it can give a final number, but a writedown of the scale expected as much as 500 billion 4.3 billion according to one source close to Toshiba would leave the group scrambling to plug the financial hole and keep up hefty investments in the competitive memory chip industry, which generates the bulk of its operating profit, according to The Japan Times. Shareholder equity, which represents its accumulated reserves, stood at 363.2 billion at the end of September, already just 7.5 percent of total assets. The Tokyo-based conglomerate, which is still recovering from a 1.3 billion accounting scandal in 2015, dismayed investors and lenders again this week by announcing that cost overruns at a U.S. nuclear business bought only last year meant it could now face a crippling charge against profit. Toshiba cannot raise cash by issuing shares because of restrictions imposed by the stock exchange after last year's scandal. Private equity funding could be an option, but financial sources and investors said Toshiba would likely be forced to sell off more assets and stakes, months after having sold its two most easily marketable businesses white goods and medical devices. One source close to the matter said Toshiba had been considering a share issue of around 300 billion, but the imminent lifting of those restrictions is now unlikely. (news.financializer.com). As reported in the news.

dollar index: This is in sharp contrast with the performance of the Chinese stock markets and the yuan, according to Global Times China. Given Trump's campaign rhetoric, he is likely to push for more rate hikes as well as trade protectionism and tax cuts after assuming office. Following a US Fed rate hike in mid-December, the Dow hit a record closing high of 19,975 and the US dollar index has hovered around the 103 level since, its highest reading since 2002. He will probably also seek to bring jobs back home and attract foreign investment and finance new infrastructure construction. First, a stronger dollar will be a crisis for many countries. Trump's economic plans are certain to have a huge impact on the Chinese and global economy. (news.financializer.com). As reported in the news.

dow djia: The jump puts the London benchmark neck-to-neck to the Dow DJIA, -0.29% in terms of yearly performance, with the American index on Friday flirting with a 13.6% 2016 advance, according to Market Watch. Caption outside of wrapper for normal article images The FTSE has also raced ahead of other European benchmarks, easily beating the Stoxx Europe 600 index's SXXP, 0.32% 1.2% drop for the year and the German DAX 30 index's DAX, 0.26% 6.9% climb. The U.K.'s FTSE 100 index UKX, 0.32% has also scored a knockout year, ending 2016 with a 14% gain, it's biggest since 2013. Of course, for U.S. investors the stellar performance for U.K. stocks has been offset by the 17% slump for the pound in 2016. When we started in 2016, commodities, such as oil and mining, were massively out of favor and massively underperformed, which created a huge opportunity. The FTSE has been helped by two factors this year. (news.financializer.com). As reported in the news.

earnings report: The news came amid a large-scale corporate restructuring effort. 27.12.2016 Toshiba turns corner after accounting scandal Japanese electronics company Toshiba has said it's swung to a profit in its April-June quarter, according to Deutsche Welle. The earnings report came as the firm kept trying to turn the page on an embarrassing accounting scam. 12.08.2016 Embattled Toshiba set to cut 34,000 jobs Still under fire for attempts to cover its losses, Toshiba hopes to rebound by restructuring its workforce. DW recommends Toshiba shares tank over expected loss Shares in Japanese company Toshiba have plummeted on media reports it's likely to suffer a huge special loss related to an asset valuation dispute. It has sold off two major branches this week alone as it struggles with the aftermath of an accounting scandal. 18.03.2016 Over the past three days, the Japanese conglomerate's market value declined by about 781 billion yen 6.70 billion, 6.42 billion euros losing more than 40 percent and virtually erasing all gains for the year. The exact figure of the potential writedown was still being worked out, Toshiba President Satoshi Tsunakawa told reporters after the announcement. On Tuesday, Toshiba said in a statement that costs linked to the acquisition last year by its US subsidiary of a nuclear service company would possibly come to several billion US dollars, resulting in a negative impact on Toshiba's financial results. (news.financializer.com). As reported in the news.

investment opportunities: Here are a few Check the background of a broker or investment advisor before sending your money by first going to the searchable database at Investor.gov or use the toll-free investor assistance line at 800 732-0330, according to Market Watch. It's a free way to avoid an expensive life lesson. The SEC's Office of Investor Education and Advocacy has published 10 Investment Tips just in time for year-end tax loss sales and portfolio adjustments. If it sounds too good to be true, it probably is. The SEC urges investors to ignore, or better yet report, claims of can't miss and guaranteed risk-free investment opportunities. That's a classic fraud red-flag. (news.financializer.com). As reported in the news.

belgrade apartment: It is an old Yugoslavian version of the famous Soviet Tokarev TT-33, with a communist star engraved in the grip, according to Deutsche Welle. The pistol is from the front. He is almost 30 and the pistol has been among the household effects of his Belgrade apartment since he can remember. My old man was in the army and got it as a present. Historic gun culture No one knows just how many illegal weapons Serbians are hiding in their homes. He didn't have a gun permit, but who had something like that in the 1990s Those were hard times, you always had to carry something for protection, explains Mladen, who doesn't want to read his real name in the news. (news.financializer.com). As reported in the news.

light volumes: S&P said it expected shareholder equity to drastically shrink, eroding the conglomerate's financial resilience, according to Global Times China. Moves elsewhere were more modest. Japan's Nikkei shed 1.3 percent as the yen firmed and Toshiba Corp dived 16 percent after news of potential massive writedowns led to a downgrade of its credit ratings. Australia's main index recouped losses to finish flat at a 17-month peak. The pullback on Wall Street came amid light volumes and likely reflected caution about what the new year might bring, given Wednesday was the first session when trades actually settle in January. MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.19 percent. (news.financializer.com). As reported in the news.

product gdp: The economic expansion below 3 percent is forecast to last for three years in a row, according to Global Times China. Real gross domestic product GDP expanded 3.3 percent in 2014, but the growth rate declined to 2.6 percent in 2015. Next year's growth forecast was cut to 2.6 percent from 3.0 percent unveiled six months earlier, according to the Ministry of Strategy and Finance. The ministry set this year's growth forecast at 2.6 percent. Confidence among consumers already worsened on political unrest caused by the impeachment of President Park Geun-hye. The downward revision for next year stemmed mainly from the expected slowdown in private consumption amid the expected interest rate hikes in the United States. (news.financializer.com). As reported in the news.

track space: The iShares MSCI Russia Capped ETF ERUS, 0.27% rose 0.6%, while the Van Eck Vectors Russia Small-Cap ETF RSXJ, -0.63% added 0.3%. The Direxion Daily Russia Bull 3x Shares RUSL, 0.60% a leveraged fund that is designed to deliver 300% of the daily move of its underlying index, rose 1.6% on the day, according to Market Watch. The Obama administration could announce measures as early as Thursday, and these may include economic sanctions and retaliatory cyberactions, as well as other moves that remain secret. The Van Eck Vectors Russia ETF RSX, 0.28% the largest fund to track the space, with 2.6 billion in assets rose 0.5%, easily outpacing the S&P 500 SPX, -0.46% which was essentially flat on the day. The relationship Trump has with Putin can only be positive for Russia's economy, which is already one of the most undervalued equity markets in the world.' Robert Lutts, Cabot Money Management. Russia was accused of hacking into the Democratic National Committee, as well as the email account of John Podesta, the campaign chairman of Hillary Clinton. Even though there may be short-term retaliation and friction from the current administration, people are already looking ahead to the next one, said Robert Lutts, chief investment officer at Cabot Money Management. (news.financializer.com). As reported in the news.