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

auto industry: Aston's plan to float on the London Stock Exchange comes as much of Britain's auto industry has sounded the alarm over the potential impact of tariffs and customs checks on their business post-Brexit, according to The Guardian. BMW, which makes the Mini, has warned that a no-deal Brexit could force UK plant closures; Jaguar Land Rover, which employs 40,000 people in the UK, has also raised concerns, saying a bad Brexit deal would threaten 80bn worth of investment plans for the UK and might force it to close factories. The carmaker wants to sell at least 25% of its shares to City investors, valuing it at about 5bn, before Britain leaves the EU next March. So why does Aston Martin think it can dodge the Brexit flak and secure City backing Andy Palmer, the company's chief executive, said I'm not advocating Brexit, trade wars or tariffs. The big difference between us and, let's say, Toyota is that around 25% of our production goes to the EU. Almost all their cars made here are for export to the EU. Pointing to sterling's woes since the referendum, he added Also, a weak pound is good for exporters like us. But you have to assume it's going to happen. (news.financializer.com). As reported in the news.

buyers: Financing is often the most stressful part of buying a home, especially for first-time buyers, according to The Toronto Star. ISTOCK 1. Here are some valuable hints to help educate and ease the worry for first-time homeowners. Carefully determine what you can afford. It's not just about pulling together a down payment and then estimating what you think you can afford monthly. You may want to enlist the services of a financial planner to help you determine this because it's more complicated than you might think at first glance. (news.financializer.com). As reported in the news.

flight path: West Jet's fractious labour relations haven't helped its bottom line, according to The Toronto Star. DARRYL DYCK / THE CANADIAN PRESS file photo But today's West Jet appears to be on a flight path to mediocrity, or worse. For most of its 22-year existence, the Calgary-based company has been one of the world's few consistently successful major airlines. In its most recent quarter, West Jet reported its first loss in 13 years. Article Continued Below West Jet described its abysmal second-quarter performance as the result of a perfect storm of higher fuel costs, cancelled bookings due to a threatened pilots' strike and weather disturbances. Should West Jet investors, employees and customers be worried In a word, yes. (news.financializer.com). As reported in the news.

hamilton spectator: Ava Hill, chief, Six Nations elected council John Rennison The Hamilton Spectator John Rennison / The Hamilton Spectator The most populous First Nation in Canada also sees the potential economic benefits of legalization, according to The Toronto Star. We have to start developing our own source revenue, Hill said. Our main concern is the health and safety of our community, particularly the young people, elected Chief Ava Hill said. If this is one avenue to do that, that's one avenue we want to explore. Article Continued Below It seems that again we've been left out in the dark with all the stuff that's going on, and we've become a footnote. But Hill and other Indigenous leaders say they has been excluded from the national discussion on legalization. (news.financializer.com). As reported in the news.

observer: The Observer understands that the Treasury was repeatedly approached for more funding by concerned ministers before the last budget, but the requests were turned down, according to The Guardian. Theresa May has also been warned by MPs that unless action is taken the funding crisis could cause another tragedy like the Baby P scandal of 2007. In the latest sign of the cash crisis engulfing councils across England, senior local government figures now warn that children's services are reaching a tipping point as the numbers needing help continue to grow and budgets continue to shrink. Figures show that, last year alone, councils in England had to spend 816m more on children's social care than they had budgeted for. According to the Local Government Association LGA which represents 370 councils, there is now real pressure on attempts by councils to keep children safe from harm. It means that spending on children's social care has increased at a faster rate than any other area that councils oversee. (news.financializer.com). As reported in the news.

summer: But behind Trump's sunny, late summer disposition, there is growing concern that the principal beneficiaries of Trumpian economic largesse are those like him in the uppermost reaches of the economic scale, according to The Guardian. The top 10% of American households owned 84% of all stocks in 2016, according to a paper by NYU economist Edward Wolff. And more good news is coming for those who have made a fortune in US stocks, the president promised this week. As the markets have been driven higher by an unprecedented binge in share buybacks, boosted by Trump's historic corporate tax cuts, those gains have disproportionately gone to the very wealthy. For all of you that have made a fortune in the markets, or seen your 401k's rise beyond your wildest expectations, more good news is coming!August 30, 2018 For them it's true there is more good news to come. Donald J. news from the Financial Markets is even better than anticipated. (news.financializer.com). As reported in the news.

affairs: The rush is on Canada's Foreign Affairs Minister Chrystia Freeland, during a break in trade talk negotiations from the Office of the United States Trade Representative in Washington, according to The Toronto Star. Jacquelyn Martin / AP It may be by Friday or it may be within a period of time, he told Bloomberg. President Donald Trump said a deal was close, and that Canada would make a deal at some point, but that he was not sure if it would happen by Friday. Trump struck a harder line at a campaign rally in Indiana on Thursday night, repeating his threat to impose tariffs on imports of Canadian-made cars if Canada did not start to treat the U.S. more fairly. Anything is possible, but it'll require a lot of work, the official said. react-empty 140 A second Canadian official said a deal by Friday was still possible but that the media was succumbing to overly exuberant deal fever. Read more Article Continued Below Opinion Salutin NAFTA Screwed if we're in and screwed if we're out Trump, Trudeau say NAFTA deal possible by Friday Is it too late for Canada in NAFTA deal A Canadian government official, who spoke on condition of anonymity, said the talks with the U.S. were down to just a few issues, but the trickiest ones. (news.financializer.com). As reported in the news.

raid: Michaelia Cash aide resigns over AWU raid tip-off to media Read more While Labor leapt on the revelation as a sign of Cash's evasiveness on the AWU raid leak, sources close to Cash believe it supports her version of events that neither she nor her office is under investigation, according to The Guardian. The Australian Financial Review, which first reported the revelation, suggested the leak made Cash a victim of payback culture within the Liberal party after she helped depose Malcolm Turnbull in last week's leadership clash. Guardian Australia understands the former employment minister's evidence to the police consisted of only a witness statement detailing her evidence already in the public domain and she was not asked follow-up questions. A senior Liberal source was quoted as saying that Cash was asked to cooperate and she didn't although Cash insists she did cooperate with the police but simply did not know anything more about the tipoff. Play Video 1 35 I am 'absolutely not covering up' AWU raid, says Michaelia Cash video In Senate estimates, Cash repeatedly denied that her office was involved, but on 25 October her then senior media adviser David De Garis resigned after Buzzfeed revealed that he had tipped off the media about the raid. In October, journalists and television cameras were present when the police raided the AWU headquarters as part of the Registered Organisations Commission's investigation into 100,000 in donations from the union to the campaign group Get Up in 2005. (news.financializer.com). As reported in the news.

damage: It's the humble tree, according to Nine News Australia. Whether it be one that's blocking a view, branches that are falling from a neighbouring one onto your property or a tree that is causing damage, trying to remove one is getting harder and harder it seems. To improve your experience update it here News National The four-year, half-a-million dollar row over one tree By Brady Halls7 49pm Aug 31, 2018Facebook Tweet Mail We all love them and can't live without them, but gee sometimes they cause enormous problems and we're not talking about mother in-laws. Locals and the council are involved in the battle over a tree. The roots of one are blocking driveway access for two dozen elderly residents of a block of home units and villas, because the tree on the council strip has lifted not only the road and footpath but the private driveway belonging to the unit block. Nine On Sydney's very leafy upper North Shore there are two trees in different locations causing all sorts of headaches. (news.financializer.com). As reported in the news.

p tsx: The Canadian dollar traded down at 76.62 cents U.S. compared with an average of 77.04 cents U.S. on Thursday, according to The Toronto Star. JONATHAN HAYWARD / THE CANADIAN PRESS In New York, the Dow Jones industrial average was up 8.37 points at 25,995.29. The S&P/TSX composite index was down 27.38 points at 16,344.17. The S&P 500 index was up 1.73 points at 2,902.86, while the Nasdaq composite was up 22.89 points at 8,111.26. The October crude contract was down 13 cents at 70.12 U.S. per barrel and the October natural gas contract was up 4.9 cents at 2.92 U.S. per mmBTU. Article Continued Below The December gold contract was up 5.20 U.S. at 1,210.20 U.S. an ounce and the December copper contract was down 2.50 cents at 2.69 U.S. a pound. react-empty 143 Read more about Tsx TOP STORIES, DELIVERED TO YOUR INBOX.NEW NEWSLETTERHEADLINESSIGN UP The Canadian dollar traded down at 76.62 cents U.S. compared with an average of 77.04 cents U.S. on Thursday. (news.financializer.com). As reported in the news.

people: His then-boss, Conservative Leader Andrew Scheer, let that fester for days before tepidly expressing concern, according to The Toronto Star. People rally against racism in Quebec City in January. First, we watched Maxime Bernier's fear-mongering about a cult of diversity and extreme multiculturalism. Federal NDP Leader Jagmeet Singh argues that the way to reduce racism and intolerance is to attack inequality. This is how you can tell when Liberals are losing, he tweeted. Jacques Boissinot / THE CANADIAN PRESS Then, when Prime Minister Trudeau called out a heckler for her rant against asylum seekers, Scheer was quick to step in with his own divisive rhetoric. (news.financializer.com). As reported in the news.

plane today: Scott Morrison was greeted off the plane today by a government official, and later met with President Joko Widodo, according to Nine News Australia. Mr Morrison is yet to have moved into the Lodge as Prime Minister, but today he visited the Indonesian Presidential Palace to talk about regional security, counter-terrorism and economy. To improve your experience update it here News National Scott Morrison holds economic talks with Indonesian President Joko Widodo By Fiona Willan Political Reporter7 45pm Aug 31, 2018Facebook Tweet Mail The new Australian Prime Minister touched down in Indonesia looking to follow in his predecessor's footsteps. Prime Minister Scott Morrison has met with Indonesian President Joko Widodo for 'incredibly important' talks. It's incredibly important, it's so important that I should be here in my first week as PM and that's where I am, he said. AAP He also sought to further secure a strong partnership between Australia and Indonesia, in the talks with Mr Widodo. (news.financializer.com). As reported in the news.

societe generale: Aluminum from Argentina also won an exemption, according to Bloomberg. Robin Bhar, head of metals research at Societe Generale, and Michael McGlone, commodity strategist at Bloomberg Intelligence, speak with Bloomberg's Alix Steel about tariffs and metal prices. Three countries -- South Korea, Brazil and Argentina -- will get targeted relief from quotas imposed on inbound shipments to protect U.S. producers. Source Bloomberg react-empty 281 More From Bloomberg Commodities Edge22 36'Bloomberg Commodities Edge' Full Show 8/30/2018 05 05AGCO CEO Looks to Stay Positive Amid Trade Wars, Global Drought02 28BNEF Brief The Risky Dynamic in the U.S. Gas Market02 43How Chinese Tariffs Are Biting U.S. Farmers All episodes and clips Bloomberg Markets Bloomberg Markets is focused on bringing you the most important global business and breaking markets news and information as it happens. Garza Says Canada Wasn't Thrown Under the Bus With U.S.-Mexico Deal04 13Why Ford Is Canceling Plans to Import a China-Built Crossover Model Quick Take Explaining the world with Bloomberg News More episodes and clips02 21These People Want to Save the World - And Turn a Profit While They're At It03 21Why China Can No Longer Hide Its Health Scandals02 23The World's Biggest Cities Are Preparing for More Super Storms02 40The Hidden Dangers of Home DNA Tests The David Rubenstein Show The David Rubenstein Show Peer-to-Peer Conversations explores successful leadership through the personal and professional choices of the most influential people in business. More episodes and clips45 59'Bloomberg Markets Balance of Power' Full Show 08/31/2018 02 41How Option Pit's Sebastian Is Playing Pay Pal06 39Ex-Amb. (news.financializer.com). As reported in the news.

trade: The new leader is meeting Indonesian President Joko Widodo in Jakarta on Friday to conclude negotiations on a free trade deal, according to Nine News Australia. It's much more than a trade deal, we're talking about today. To improve your experience update it Aust to lift economic ties PM3 56pm Aug 31, and Indonesia are doing more heavy lifting on their economic relationship to match their close security ties, Prime Minister Scott Morrison says. It's not just a transaction, it's a partnership, Mr Morrison told reporters in Jakarta on Friday. That is the part of the relationship where we need to do some more heavy lifting, the economic relationship, Mr Morrison said. Australia and Indonesia are two of the world's 20 largest economies and close neighbours, but neither are in each other's top 10 trading partners. (news.financializer.com). As reported in the news.

ukraine: The inauguration fund was not allowed to accept money from foreigners, according to The Guardian. The disclosure came as Patten pleaded guilty to illegally lobbying in the US for pro-Russia politicians from Ukraine. How heartening to see a still robust US constitution as the net closes on Trump Michael Goldfarb Read more Sam Patten used the money to buy tickets for the oligarch and a Russian associate to Trump's inauguration in January 2017, according to a plea agreement made public on Friday. As part of his plea deal, he agreed to cooperate with Robert Mueller, the special counsel investigating links between Donald Trump's campaign team and Russian interference in the 2016 election. He was not charged for these actions. Patten, 47, admitted causing the Ukrainian funds to be paid to the inauguration committee, and to lying to a Senate committee investigating Russian interference in an attempt to cover this up. (news.financializer.com). As reported in the news.

anti-obesity formulation: They've discovered natural clay particles can be used to trap and soak up fats from food, stopping it from being absorbed by the body, according to Nine News Australia. It's quite fascinating that something as simple as the backyard dirt can be the basis of a new anti-obesity formulation, says Professor Clive Prestidge from the University of South Australia. To improve your experience update it here News National Adelaide researchers find potential obesity cure in clay particles By Jessica Stanley Reporter9 33pm Aug 30, in Adelaide may have dug up a potential cure for obesity - in dirt. Researchers at the University of South Australia have found dirt may surprisingly provide a possible cure to obesity. 9NEWS The surprise discovery was made while researchers were investigating ways to improve drug delivery and could be developed into a medication to reduce weight gain. Pre-clinical trials have produced promising results in animals, who were given the specially-designed clay materials while also being a fed a high-fat diet. These materials were actually soaking up the fats and oils during our studies... It's something that I never expected in my research but I think it's got huge potential, Tahnee Dening, a PhD candidate with the University of South Australia, said. (news.financializer.com). As reported in the news.

dow jones: The S&P/TSX composite index was down 0.57 of a point at 16,389.72 with the energy sector off 0.82 per cent on Thursday, according to The Toronto Star. Frank Gunn / THE CANADIAN PRESS file photo In New York, the Dow Jones industrial average was down 64.08 points at 26,060.49. The S&P/TSX composite index was down 0.57 of a point at 16,389.72 with the energy sector off 0.82 per cent. The S&P 500 index was down 2.79 points at 2,911.25, while the Nasdaq composite was up 6.70 points at 8,116.39. The October crude contract was up 31 cents at 69.82 U.S. per barrel and the October natural gas contract was down 0.2 of a cent at 2.86 U.S. per mmBTU. Article Continued Below The December gold contract was down 5.30 U.S. at 1,206.20 U.S. an ounce and the December copper contract was down 2.95 cents at 2.71 U.S. a pound. react-empty 143 TOP STORIES, DELIVERED TO YOUR INBOX.NEW NEWSLETTERHEADLINESSIGN UP The Canadian dollar traded lower at 77.08 cents U.S. compared with an average of 77.33 cents U.S. on Wednesday. (news.financializer.com). As reported in the news.

increase: We must maintain efforts to put our Nation on a fiscally sustainable course, and Federal agency budgets cannot sustain such increases, the President wrote, according to CNN. An across-the-board 2.1% pay increase for federal workers was slated to take effect in January. In a letter to House and Senate leaders, Trump described the pay increase as inappropriate. In addition, a yearly adjustment of paychecks based on the region of the country where a worker is posted -- the locality pay increase -- was due to take effect. Read More Trump touts economy 'These numbers are very, very sustainable' Trump touts economy 'These numbers are very, very sustainable' I have determined that for 2019, both across the board pay increases and locality pay increases will be set at zero, he wrote. Trump said both increases should no longer happen. (news.financializer.com). As reported in the news.

notes: Modi shocked Indians in November 2016 when he announced on live television that all 500 and 1000-rupee notes, equivalent to about 6 and 12, would be banned in four hours' time, according to The Guardian. India's banknote ban how Modi botched the policy yet kept his political capital Read more People were given several weeks to exchange their demonetised currency for new notes at banks. The figures suggest prime minister Narendra Modi's demonetisation policy, which likely wiped at least 1% from the country's GDP and cost at least 1.5m jobs, failed to wipe significant hordes of unaccounted wealth from the Indian economy a key rationale for the move. But new notes could not be printed fast enough, and the policy sparked a months-long currency crunch that left tens of millions of Indians cashless or standing in line for hours each day to retrieve small sums of cash. The RBI's annual report on Wednesday found 99.3% of the money withdrawn from circulation had been returned to banks, indicating either there was less black money than expected, or that schemes to launder money were more successful than thought. As India's massive informal economy reeled, Modi implored the country to give the policy time to work, arguing it would flush out untaxed wealth being hoarded by wealthy Indians, help to digitise the economy one of the most cash-based in the world and starve terrorists and criminal gangs of cash. (news.financializer.com). As reported in the news.

loan: A statement on its website read While it continues to assess its options Wonga has decided to stop taking loan applications, according to The Guardian. If you are an existing customer you can continue to use our services to manage your loan. The news comes days after it emerged that the company had lined up Grant Thornton to act as administrator in case the lender's board decides it cannot be rescued. Q&A Are you a Wonga customer Share your experiences with us Show Hide If you are a customer, have recently left, or applied for compensation from Wonga we'd like to hear from you. Your responses will only be seen by the Guardian, and one of our journalists may be in touch. You can share your experiences via this form. (news.financializer.com). As reported in the news.

office: Those who threaten to wipe us out put themselves in a similar danger, and in any event will not achieve their goal, he said on Wednesday during a ceremony to rename the complex, near the desert town of Dimona, after the late Israeli statesman Shimon Peres, according to Nine News Australia. Netanyahu's remarks, issued by his office in a transcript, came as Israel lobbies world powers to follow the United States in exiting their 2015 deal with Iran that capped the Islamic Republic's nuclear capabilities. To improve your experience update it here News World Israel PM Netanyahu gives nuclear warning1 47pm Aug 30, Minister Benjamin Netanyahu has used a visit to a secretive Israeli atomic reactor to warn the country's enemies that it has the means to destroy them, in what appeared to be a veiled reference to its assumed nuclear arsenal. The Israelis deem the agreement insufficient for denying their arch-foe the means to eventually get the bomb - something that Tehran, which is a signatory to the 1970 nuclear Non-Proliferation Treaty NPT denies wanting. On Wednesday, Iran said it could abandon the accord. The reimposition of US sanctions has put pressure on the Iranian economy, scaring off some foreign investors even as European powers try to salvage the 2015 pact. (news.financializer.com). As reported in the news.

drop: The central bank said it would keep rates unchanged at 60% until at least December, according to The Guardian. The peso dropped amid intense trading on foreign exchanges, falling by more than 10%, despite the bank's rate move, in the most severe drop for the currency since it was floated in 2015. 1 77p is now worth about more than 39 pesos, having been worth about 18 pesos at the start of the year. The Argentine central bank raised the cost of borrowing by 15 percentage points on Thursday in an attempt to shore up the peso, which has plummeted in value. Paul Greer of the City fund manager Fidelity said countries across emerging markets were being targeted by investors due to their economic problems, including high levels of debt and imports. Elsewhere on Thursday, the Turkish lira fell by more than 4% against the dollar amid increasing concerns over economic crises in developing nations. There are no easy answers for Argentina to its current woes, he said. (news.financializer.com). As reported in the news.

police investigation: The Crime and Corruption Commission secured the order in Brisbane Supreme Court on Friday for the 39-year-old to pay Queensland 1,970,499.94 after she was charged with serious drug offences in October 2015, according to Nine News Australia. During the police investigation more than 1.8m in cash was seized and the CCC was able to demonstrate the woman had significant unexplained wealth and property including the cash. To improve your experience update it here News National Drug offender ordered to pay Qld 1.97m5 31pm Aug 30, 2018Facebook Tweet MailA woman will have to pay the state of Queensland 1.97 million after a successful proceeds of crime action against her. CCC Chair Alan Mac Sporran said the decision ensured criminals couldn't benefit from the proceeds of crime. AAP 2018Continue USSend your photos, videos and stories to 9News News Is eating dinner on the couch bad for you A psychologist weighs in - domain.au Top Stories Turnbull's son solicits Labor donationsGALLERYEveryday scenes reveal beauty and diversity of Australian life Why Aussie retailers are being forced to shut their doors Trump drops Australia visit Targeting the profits of criminals prevents the reinvestment of money back into the criminal economy, Mr Mac Sporran said. (news.financializer.com). As reported in the news.

populus ceos: More episodes and clips46 04'Bloomberg Technology' Full Show 8/31/2018 02 33Google and Mastercard Cut a Secret Data Deal06 34Skip and Populus CEOs on the Scooter-Sharing Revolution03 35Lyft Could Beat Uber to the IPO Market The David Rubenstein Show The David Rubenstein Show Peer-to-Peer Conversations explores successful leadership through the personal and professional choices of the most influential people in business, according to Bloomberg. More episodes and clips24 05The David Rubenstein Show Oscar Munoz24 02The David Rubenstein Show Dennis Muilenburg24 01The David Rubenstein Show Richard Branson24 01The David Rubenstein Show Steve Ballmer See all shows Hosted by Emily Chang. (news.financializer.com). As reported in the news.

press gallery: Exports jumped by an annualized 12.3 per cent, the biggest quarterly gain since 2014, according to The Toronto Star. Bank of Canada Governor Stephen Poloz and Carolyn Wilkins, Senior Deputy Governor, walk to the National Press Gallery in Ottawa. Gross domestic product expanded at a 2.9 per cent annualized pace from April to June, faster than a 1.4 per cent increase in the first quarter of 2018, Statistics Canada said in a report Thursday from Ottawa. Sean Kilpatrick / THE CANADIAN PRESS Still, the numbers may be a slight disappointment as slowing investment brought growth in below analyst forecasts. Investors are betting a rate hike by October is a near certainty, with a small chance of an increase as early as next week's Bank of Canada rate meeting. It's a development that will give the Bank of Canada little reason to speed up interest-rate hikes, given the importance policy-makers have placed on the need for demand to rotate away from consumption toward business investment. (news.financializer.com). As reported in the news.

terminal: An aerial view of the Trans Mountain marine terminal, in Burnaby, B.C. JONATHAN HAYWARD / The Canadian Press Tim McMillan, president and CEO of the Canadian Association of Petroleum Producers CAPP a lobby group representing the Canadian oil industry, said the ruling shows investors in the global energy market that Canada is an uncertain place to do business and is perhaps best avoided, according to The Toronto Star. Global investment in oil and gas development is growing substantially right now, but in Canada we're continuing to decline our investment, he said. The decision, handed down by the Federal Court of Appeal, forces the Canadian government to restart a third phase of consultation and consider the environmental effects of increased shipping due to oil tanker traffic before the project can move ahead. We have global markets we can't tap into because we can't get the infrastructure built in a timely fashion. The former was intended to pump diluted bitumen from Western Canada to the East Coast, but Trans Canada ended up scrapping the project last October. McMillan cited the cancellation of the Energy East and Northern Gateway pipelines. (news.financializer.com). As reported in the news.