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

ageing society: In fact, there has been huge progress in building an alternative, according to The Guardian. Economists have a better analysis of how sustainable growth and innovation occur, and how the state can co-invest with industry to meet challenges such as climate change and an ageing society. But you wrongly imply that no one has done this. It is clear that the decline in bargaining power in an overly casualised labour market has held down wages, and that both stronger trade unions and regulation are needed to raise low-income earnings and productivity. All these and more are proposed in a recent report by the IPPR commission on economic justice, Prosperity and Justice A Plan for the New Economy. The role of the financial sector in causing financial instability, short-termism and wealth inequality is much better understood, and new public institutions from a national investment bank to regional economic government and a new digital regulator are now on the table. (news.financializer.com). As reported in the news.

year: The additional tariffs are on top of penalties enacted earlier this year on 50 billion worth of Chinese goods, according to CNN. Taken together, it means roughly half of the products that China sells to the United States each year will be hit by American tariffs. The United States will impose a 10% tariff later this month on 200 billion worth of Chinese goods, increasing to 25% at the end of the year, the Trump administration announced Monday. In July, the administration published a list of thousands of products that would be subject to the latest round of trade penalties. Trump had urged his advisers to press forward with the 200 billion round, even as Washington and Beijing worked to restart trade talks. More than 300 products were removed from that list -- including smartwatches, health and safety devices and children's playpens. (news.financializer.com). As reported in the news.

consumer goods: The proposed move means that Unilever, which makes consumer goods ranging from Marmite to Dove soap, will drop out of the FTSE 100 index, forcing UK tracker funds and those with strict UK investment mandates to sell their holdings, according to The Guardian. David Cumming, the chief investment officer for equities at Aviva Investors, said We are not supportive and we will vote against it. The asset management arm of the insurer Aviva is opposing Unilever's plans to move to a sole headquarters in Rotterdam and incorporate in the Netherlands under a single holding company. It doesn't add any value for us, we lose quite a large company from the index and we don't see any justification for the move. Cumming told BBC Radio 4's Today programme I think they will struggle; I don't see logically why any UK shareholder would support Unilever's decision to go Dutch because there is no upside but there is downside and we lose an excellent company from the index. We would encourage other institutional shareholders to do the same as us. (news.financializer.com). As reported in the news.

growers fear: Police are investigating after the metal needles were found in punnets of fruit across the country, as nervous growers fear a multi-million dollar commercial sabotage, according to Nine News Australia. Two contaminated punnets of Mal's Black Label strawberries have been found in separate towns outside Adelaide, with the latest in Morphett Vale. To improve your experience update it here News National Needles in strawberries in all six states7 54pm Sep 17, needles have been found in strawberries in all six states, leading New Zealand to pull the Australian-grown fruit from its supermarket shelves. People need to slice their fruit prior to consumption and please contact police immediately if you find any contaminated fruit, SA Police said on Monday. I'm angry for all the associated people, it's the farmers, the people who supply them, the packaging people, the truckies with families to support, who suddenly lose their jobs ... it's far-reaching, he said. Queensland Strawberry Growers Association vice president Adrian Schultz said commercial terrorism was bringing an industry to its knees. (news.financializer.com). As reported in the news.

official website: His Nigerian-born wife Beverley quick of wit and sharp of tongue finds him filling a wooden packing chest with ice, in which he deposits Daisy's corpse, according to Nine News Australia. To watch Jurassic Bark' and for more on 60 Minutes, head to the official website. To improve your experience update it here News World60 Minutes Wife fears cloned dogs could be random pet shop purchases By Gareth Harvey 60 Minutes9 50am Sep 17, if you will a slightly eccentric British author name of Tom Rubython whose beloved cocker spaniel Daisy has just died. Unbeknownst to Beverley, Tom had also gone the extra step of paying to fly over a Korean scientist to take the necessary flesh sample from Daisy. 60 Minutes Beverley, who despite an official-looking DNA certificate in Korean is to this day deeply unsure whether Mabel and Myrtle are actually clones. 60 Minutes Why aren't we burying her Beverley asks. But there is no further explanation, and Beverley's suspicion is piqued. It's a request by the insurance company, Tom replies. (news.financializer.com). As reported in the news.

p tsx: The Canadian dollar traded for 76.81 cents U.S. compared with an average of 76.73 cents U.S. on Friday, according to The Toronto Star. JONATHAN HAYWARD / THE CANADIAN PRESS In New York, the Dow Jones industrial average was down 92.55 points to 26,062.12. The S&P/TSX composite index was up 68.82 points to 16,082.31. The S&P 500 index was down 16.18 points to 2,888.80, while the Nasdaq composite was down 114.25 points to 7,895.79. The October crude contract was down eight cents at 68.91 U.S. per barrel and the October natural gas contract was up 4.7 cents at 2.81 U.S. per mmBTU. Article Continued Below The December gold contract was up 4.70 U.S. at 1,205.80 U.S. an ounce and the December copper contract was up a half of a cent at 2.65 U.S. a pound. The Canadian dollar traded for 76.81 cents U.S. compared with an average of 76.73 cents U.S. on Friday. (news.financializer.com). As reported in the news.

gdp: Did you know that Australian household debt compared to our GDP is sitting at 120 percent and is one of the highest in the world To watch Bricks and Slaughter' in full, and for more on 60 Minutes, head to the official website, according to Nine News Australia. That's what the latest data from the Bank for International Settlements BIS says and they should know, as they are the central bankers' banker. To improve your experience update it here News National60 Minutes Is Australia on the verge of another economic crisis By Martin North Principal, Digital Finance Analytics12 41pm Sep 17, this ain't sexy, but it could be the most important thing you read this year. Now you might well ask, why this is a problem After all, in the past decade, the banks have been lending freely, mostly to help households buy real estate to live in or as an investment. Related Articles60 Minutes Wife fears cloned dogs could be random pet shop purchases We're all to blame for looming housing market crash The murky moral dilemma of cloning dogs The bank regulators are saying the banking system is sound, and despite the growth in debt, there is really, nothing to see here move along . The bank regulators are saying the banking system is sound, and despite the growth in debt, there is really, Nothing to see here move along . 60 Minutes And anyone holding property, at least on paper, has done well much of our wealth is in real estate. Off that back of that they have been able to increase dividends to their shareholders and inflate their balance sheets. (news.financializer.com). As reported in the news.

investment portfolio: It is unfortunate that he failed to check the current church commissioners' investment portfolio, which now presents the church with the opportunity to disinvest from the likes of Amazon, according to The Guardian. It ought to be noted, too, that the church follows the life and teachings of Jesus of Nazareth, who violently turned over the tables of the moneychangers in the temple Matthew 21 12-13 et al who quite simply were defrauding the ordinary worshippers, rather like tax evaders and avoiders today. Justin Welby is right to examine economic issues about which he is competent to speak and taxation and benefit policies that adversely affect often the poor and most vulnerable. Finally, Jenkins is guilty of sloppy thinking when he arbitrarily compares Welby to Jeremy Corbyn and John McDonnell. We all share views with other people who we might not agree with, but that doesn't mean one is championing the partisan policies if that is what they are! of Corbyn and McDonnell. The issue is not whether what the archbishop says is similar to Labour party policies, but whether what he says is right, true and necessary. (news.financializer.com). As reported in the news.

ownership rights: At the start of this year I was looking to buy a house in Sydney, despite most likely having to sell a kidney and ownership rights of my first born to do so, according to Nine News Australia. We've all been told for so long you need to be on that you need to get on that property ladder sooner or later, and as house prices continued to soar to unprecedented levels, I figured I had better opt for sooner. To improve your experience update it here News National We're all to blame for looming housing market crash By Tom Steinfort 60 Minutes Reporter9 53pm Sep 16, it comes to the rapidly cooling property market, I'm part of the problem. Reporter Tom Steinfort's house-buying quest revealed that we're all part of the problem facing the housing market. 60 Minutes But after a couple of months after I began my search, I got an email from a real estate agent telling me that the owner of a property I'd taken an interest in was willing to accept offers of 250,000 below the asking price. Nope, it was spot on they were willing to cop a quarter of a million-dollar loss. Sorry, do you mean 25,000 I replied, assuming that was some sort of typo. (news.financializer.com). As reported in the news.

president bush: Follow her sam vinograd, according to CNN. The views expressed in this commentary are her own. She served on President Obama's National Security Council from 2009-2013 and at the Treasury Department under President Bush. View more opinion articles on CNN. (news.financializer.com). As reported in the news.

slump: It happens when the storm is about to break, according to The Guardian. Back in 2008, the Bank of England failed to predict the biggest postwar slump in the UK's history even after it had started. That is true not only in the years before a severe downturn. This less than impressive record should act as a cautionary note in the current circumstances when the 10th anniversary of the collapse of Lehman Brothers has generated a thriving cottage industry devoted to predicting when the next crisis will occur. Meteorology has improved in the past 40 years, economic forecasting has not. The honest answer is that nobody really knows. (news.financializer.com). As reported in the news.

unions: Talks had been going on for a year, but the Pro14, the shareholders of which are all unions, was first approached 12 months before, according to The Guardian. The Pro14 suspended the talks last year as it negotiated a television agreement with Premier Sports, but when CVC's interest in the Premiership became public, it rekindled the interest of some of the unions. CVC's Premiership bid may have been rejected but it could signal change The Breakdown Read more Premiership Rugby last week rejected a takeover bid by the equity firm CVC, believing its 500m offer undervalued the league and not willing to concede control. Wales, Scotland and South Africa are open to the idea of outside investment, while not being prepared to concede control. What the companies are looking for is not control of the tournament, but of its commercial rights, a Pro14 source said. Ireland still have to be convinced. (news.financializer.com). As reported in the news.

leverage: According to the Journal, the tariffs are expected to be set at around 10%, according to people familiar with the matter, a lower level than the possibility of 25% tariffs previously floated by the administration, according to CNN. The move aims to increase pressure on Beijing ahead of planned high-level discussions and is intended to provide the US leverage in talks over China's alleged practice of demanding American companies turn over technology in order to do business in the country, the Journal reported. The timing of the announcement is fluid, two people familiar with the plans told CNN on Saturday. But any imposition of new tariffs has the potential to further escalate trade tensions between the US and China. Read More The Journal reported that individuals briefed on the plan said the specifics are still being worked out, but they anticipate an official announcement of the new tariffs on either Monday or Tuesday. CNN has previously reported that the President had been pressing his administration to move ahead with the tariffs; Trump met with top aides earlier in the week and instructed them to proceed with the plan. (news.financializer.com). As reported in the news.

u.s: Canadian perspective If you like smoking the occasional spliff, keep it under your hat when talking to U.S. border agents; they regard this as an illegal act, even though marijuana will soon be legal in Canada and is already in some U.S. states, according to The Toronto Star. Glenn Russell / AP file photo We don't recognize that as a legal business, said Owen, executive assistant commissioner for the office of field operations. Todd Owen, who spoke to the U.S. website Politico, said the U.S. does not plan to change its border policies to account for Canada's marijuana legalization, which takes effect on Oct. 17. Owen's comments corroborated anecdotal reports that have accumulated over the course of the year. Owen said border officers will not begin asking every Canadian about their marijuana use. Canadians with links to the nascent legal industry, including venture capitalist Sam Znaimer and the chief executive of a B.C. agricultural machinery company, have already been given lifetime entry bans. (news.financializer.com). As reported in the news.

border: Owen said Canadians who earn money from the industry or consume its products will still face the possibility of being deemed inadmissible, according to The Toronto Star. This Aug. 2, 2017 photo shows the U.S. border crossing post at the Canadian border between Vermont and Quebec. Senior U.S. border official Todd Owen told the website Politico that the U.S. will not do anything to accommodate Canada's imminent marijuana legalization. U.S. officials warned that Canadian marijuana users, employees and investors could face widespread problems when trying to cross the border. Wilson Ring / AP We don't recognize that as a legal business, said Owen, executive assistant commissioner for the office of field operations. But a spokesperson for Bill Blair, minister of border security, downplayed any concerns. (news.financializer.com). As reported in the news.

campaign: But the worst part is you're only being paying extra for the privilege of using your card instead of cash, according to Nine News Australia. Finder are fighting for consumers by launching a campaign to ban surcharges and minimum spends. To improve your experience update it here News National The new push to ban surcharges and minimum spends at cafes By Reid Butler A Current Affair Reporter7 54pm Sep 14, nothing more frustrating than being notified of a surcharge just when your about buy a coffee. Sure businesses are free to have surcharge fees but in the same way consumers are free to take their business elsewhere, Finder Money Expert Bessie Hassan said. Aussies jump online and search their major city to find out which cafes don't enforce a surcharge or minimum spend. A major part of Finder's campaign is a Fee-Free Map. (news.financializer.com). As reported in the news.

court: Friday's court activity signals Mueller's investigation will continue and delve deeper into what Manafort knows, according to CNN. Even in lessening the charges against Manafort, prosecutors still have significant leverage over him if he isn't helpful to their investigation. Manafort pleaded guilty in federal court in Washington, DC, on Friday to one count of conspiracy against the US and one count of conspiracy to obstruct justice due to attempts to tamper with witnesses. Manafort's decision to cooperate with Mueller comes just weeks after President Donald Trump called Manafort a brave man who would not make up stories in order to get a 'deal' after he was convicted in a separate trial in Virginia. Those charges will be dropped if he completely complies with the cooperation agreement. Paul Manafort's plea He also admitted to all the other crimes Mueller accused him of since last October -- from money laundering and bank fraud to foreign lobbying violations related to his work for pro-Russian Ukrainians. (news.financializer.com). As reported in the news.

delegates england: Russia's Arkady Dvorkovich, who comes to Fide fresh from his success as chief organiser for the Fifa World Cup, reckons he is sure of more than 90 delegates, according to The Guardian. England's Nigel Short, standing as an anti-corruption candidate, has not stated a total but is believed to have 30-35 in his camp. The issues were discussed in this column on 15 June and in Andrew Roth's article on 2 September but who will win Who will be king Three-way battle for control rocks international chess Read more A basic difficulty for election pundits is that Greece's Georgios Makropoulos, the establishment candidate and current Fide deputy president, claims to have 114 votes in the bag. Although some chess federations may have pledged twice, there is still clearly creative arithmetic by at least one frontrunner. The hostility between Short and Makropoulos seems mutual and deep. Such a murky situation has naturally led to thoughts of alliances and pacts. (news.financializer.com). As reported in the news.

dollar whale: The book Billion Dollar Whale by the Wall Street Journal reporters Bradley Hope and Tom Wright describes how the Malaysian financier Jho Low is accused by the US government of masterminding the theft of billions of dollars from the Malaysian state-owned investment fund 1MDB, which was sent to bank accounts in Switzerland, Singapore and the Virgin Islands, according to The Guardian. It has been widely reported that Low, 36, is facing money-laundering charges in absentia in Malaysia and is the subject of an Interpol red notice. Free speech campaigners said the decision to threaten a book's distributors rather than the publisher or author could be seen as an attempt to short-circuit the legal process around libel law and risks setting a precedent that would intimidate booksellers. Low insists he has not broken any laws, is not guilty of any fraud and is not being investigated. Billion Dollar Whale has received positive reviews in the US, where it is released next week. His lawyers say that the allegations in the book are defamatory and wholly untrue. (news.financializer.com). As reported in the news.

make-or-break moment: Japan's attempt to overturn commercial whaling ban fails Read more Conservation groups praised Australia's delegation for helping to safeguard the global whaling ban at what was seen as a make-or-break moment for whales, according to The Guardian. As threats to whales from discarded fishing nets, ship strikes, climate change and fisheries by-catch had increased, adding commercial hunting was seen as a step too far for many countries. Japan's so-called way forward proposal for the IWC to start a sustainable whaling program lost by 41 votes to 27 on a tense final morning of the IWC meeting in Florian polis, Brazil. Japan's vice minister for fisheries, Masaaki Taniai, said after the country would now conduct a fundamental reassessment of its membership of the IWC . Facebook Twitter Pinterest Members of the Japanese delegation at the meeting of the International Whaling Commission in Brazil. Ultimately we had to ensure it did not proceed. Photograph Roberto Scola/EPA Speaking to Guardian Australia moments after the meeting closed, Australia's IWC commissioner Nick Gales said The fact that Japan's proposal was set up to fail, then begs the question, was this really to construct a narrative to go back to their government to promote a position to depart from the IWC but that's speculation. (news.financializer.com). As reported in the news.

environment today: The Canadian dollar traded lower at 76.71 cents U.S. compared with an average of 76.94 cents U.S. on Thursday, according to The Toronto Star. JONATHAN HAYWARD / THE CANADIAN PRESS It's a little bit more of a stable environment today, so no clear direction in terms of just market-moving news, he said in an interview. Nothing really critical came out of U.S. markets on Friday, as stronger consumer spending in July and August was muted by Chinese trade tariff comments from U.S. President Donald Trump, said Patrick Blais, senior portfolio manager at Manulife Asset Management. In New York, the Dow Jones industrial average gained 8.68 points to 26,154.67. Some reports issued Friday were supportive of the continued strength of the U.S. economy, he said. The S&P 500 index was up 0.8 points to 2,904.98, while the Nasdaq composite was off 3.67 points to 8,010.04. (news.financializer.com). As reported in the news.

house counsel: Prosecutors are considering a civil settlement with the firm or a deferred prosecution agreement with Skadden, these sources said, according to CNN. An attorney for Craig, who left the Skadden firm in April and who was White House counsel under President Barack Obama during the first year of that administration, said his client was not required to register under the Foreign Agent Registration Act. In addition, these sources said, prosecutors in the US Attorney's Office for the Southern District of New York are considering taking action against powerhouse law firm Skadden, Arps, Slate, Meagher & Flom LLP, where Craig was a partner during the activity under examination. A spokeswoman for Skadden didn't respond to a request for comment. The charges in the agreement are then dropped at the end of the period. Exclusive Mueller refers foreign agent inquiries to New York prosecutors A deferred prosecution agreement is an agreement not to prosecute an entity as long as the defendant complies with the conditions of the agreement, and in many cases it dictates that the defendant must commit no new crimes for its duration. (news.financializer.com). As reported in the news.

index: The MSCI All-Country World index, which tracks shares in 47 countries, was up nearly half a per cent on the day after the start of trade in Europe, according to Nine News Australia. Led by technology and autos stocks, the pan-European STOXX 600 index rose half a per cent, set for its best weekly gains in seven weeks. To improve your experience update it here News World Trade, tech and Turkey boost world stocks7 33pm Sep 14, have risen around the world as expectations grow that the United States and China will open new trade talks, while an interest rate hike in Turkey supported the lira and global risk appetite. Tech stocks rose 0.7 per cent after Apple gained on Wall Street following Europe's close. Australian shares were up 0.6 per cent, Seoul's Kospi rose 1.4 per cent and Hong Kong's Hang Seng gained 1 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.2 per cent. (news.financializer.com). As reported in the news.

people: The 43-year-old is among four people arrested and charged over the alleged syndicate in NSW. Police allege he was the ringleader and that he used 16 mobile phones and 17 different sim cards to co-ordinate the scam from inside Villawood Detention Centre, according to Nine News Australia. The syndicate was allegedly involved in a range of fraudulent activities, including romance scams, identity theft and business email compromises, defrauding Australians of more than 3 million. To improve your experience update it here News National Four charged with business fraud in NSW10 48am Sep 14, 2018Facebook Tweet MailA Nigerian man has been accused of running a multi-million dollar email scam out of a Sydney immigration centre. Detective Superintendent Arthur Katsogiannis said investigators believe the money was sent to Nigeria. We can't establish at this stage who it's gone to or what it's being used for he told reporters in Sydney on Friday. He said it was highly unlikely the funds would ever be recovered. (news.financializer.com). As reported in the news.

dumbarse tweet: The prosperity doctrine' and neoliberal Jesusing, Scott Morrison-style Van Badham Read more The video was synchronised to show MPs raising their hands in response to the lyrics You got a hundred dollar bill, get your hands up! You got a fifty dollar bill, get your hands up! Nick Scott MorrisonMP why did you delete this dumbarse tweet 13, 2018 Song lyrics not featured in the video but well known to its devotees include the question who fuckin' tonight racially explicit terms To all my niggas that they hit it from the back / Who want to have sex with no strings attached . Politicians kid themselves, but voters can see a government destroying itself Katharine Murphy Read more The use of the song was derided on social media, with Labor parliamentarians particularly critical of the light-hearted video, according to The Guardian. Kristina up if you think Scott Morrison has become unhinged Honestly, they threw Malcolm out for this nonsense 13, 2018 Tim Watts 13, 2018 The full lyrics of the song used in my earlier video from QT today were just not OK. When I found out, I asked the team to take it down, Morrison tweeted late on Thursday night. The 11-second clip from question time showed MPs raising their hands, set to the 1999 track Be Faithful by American rapper Fatman Scoop. The original social media posts included a personal message from Morrison that QT was on fire today, good work team . On Friday Morrison said that the video was a bit of fun but it's quite clear that that's not a song that's on my playlist . We're just trying to connect honestly with people, he told reporters at Bronte Beach in Sydney. Topics Scott Morrison Australian politics Social on Facebook Share on Twitter Share via Email Share on Linked InShare on Pinterest Share on Google Share on Whats AppShare on Messenger Reuse this content And some of the narks will get worked up about this sort of thing but it was a bit of fun. (news.financializer.com). As reported in the news.

rescue loan: Financial markets have grown increasingly concerned that Turkey is in danger of adding its name to the list of countries seeking a rescue loan from the International Monetary Fund, according to The Guardian. Argentina agreed a loan earlier in the summer with the IMF and only last month called on the Washington-based lender to release the funds earlier to to ease concerns that the country would not be able to meet its debt obligations over the next year. Ignoring calls for restraint from President Recep Tayyip Erdo an, the bank raised its main short-term rate from 17.5% following weeks of pressure from international investors. South Africa, Indonesia and Mexico are also among a group of emerging market economies that have seen their currencies tumble as investors desert countries that have grown quickly using large amounts of borrowed funds. Inflation also soared this month to a 15-year high of almost 18%. The currency has plunged in recent months and even after Thursday's rise was down almost 39% against the dollar this year. The Turkish lira began to recover shortly after the rate hike, strengthening by 3% to 6.16 against the dollar. (news.financializer.com). As reported in the news.