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

oil industry: Or so you might imagine, if you follow the technology news, according to The Guardian. So how come oil production, for the first time in history, is about to hit 100m barrels a day How come the oil industry expects demand to climb until the 2030s How is it that in Germany, whose energy transition Energiewende was supposed to be a model for the world, protesters are being beaten up by police as they try to defend the 12,000-year-old Hambacher forest from an opencast mine extracting lignite the dirtiest form of coal Why have investments in Canadian tar sands the dirtiest source of oil doubled in a year The answer is, growth. We can now leave fossil fuels in the ground and thwart climate breakdown. There may be more electric vehicles on the world's roads, but there are also more internal combustion engines. It doesn't matter how many good things we do preventing climate breakdown means ceasing to do bad things. There be more bicycles, but there are also more planes. (news.financializer.com). As reported in the news.

p tsx: The Canadian dollar traded lower at 77.10 cents U.S. compared with an average of 77.23 cents U.S. on Tuesday, according to The Toronto Star. JONATHAN HAYWARD / THE CANADIAN PRESS In New York, the Dow Jones industrial average was up 58.12 points at 26,550.33. The S&P/TSX composite index was up 62.13 points at 16,221.63. The S&P 500 index was up 6.57 points at 2,922.13, while the Nasdaq composite was up 22.61 points at 8,030.08. The November crude contract was down 40 cents at 71.88 U.S. per barrel and the November natural gas contract was down 0.6 of a cent at 3.05 U.S. . Article Continued Below The December gold contract was down 6.30 U.S. at 1,198.80 U.S. an ounce and the December copper contract was up 1.20 cents at 2.83 U.S. a pound. The Canadian dollar traded lower at 77.10 cents U.S. compared with an average of 77.23 cents U.S. on Tuesday. (news.financializer.com). As reported in the news.

prize: The NT Tourism campaign, which partners with betting company Bet Easy, sees barramundi fitted with red tags and released back into the wild and if caught, they come with a cash prize, according to Nine News Australia. In the previous three seasons, 101 fish have been released 100 with 10,000 tags while one carries the prize of 1 million. To improve your experience update it here News National Million Dollar Fish More chances for anglers to win big By Kathleen Gazzola Chief of Staff and Political Journalist4 53pm Sep 26, a million new reasons to head to the Top End of the Northern Territory, with the official launch of the Million Dollar Fish competition. But for the fourth season the odds have gotten better - as well as 100 opportunities to take home 10,000, there's now five chances to win 1 million with five fish fitted with unique numbers. That bounty will be split between angler and shared with one of three NT specific charities - NT Cancer Council, Darwin Star Ball and Matthew Hayden's Indigenous Junoir Guides Program. There'll also be 20 fitted with purple tags worth 5000. (news.financializer.com). As reported in the news.

press conference: US President Donald Trump speaks during a press conference on September 26, 2018, on the sidelines of the United Nations General Assembly UNGA in New York, according to The Toronto Star. Trump says he rejected a request for a one-on-one NAFTA meeting with Prime Minister Justin Trudeau this week because Canada's tariffs are too high and the country's trade negotiators have refused to budge. Trump also appeared to take a rare shot at Foreign Affairs Minister Chrystia Freeland, Canada's chief representative in the trade negotiations, and repeated his threat to impose tariffs on Canadian-made cars, saying that this would be even better than making a trade deal with Canada. NICHOLAS KAMM / AFP/GETTY IMAGES We are very unhappy with the negotiations and the negotiating style of Canada. They've taken advantage I love Canada, by the way ... so many friends ... but that has nothing to do with this. We don't like their representative very much, Trump said at a Wednesday news conference, although he did not specify who he was talking about. (news.financializer.com). As reported in the news.

shares: World stocks were flat, not far off six-month highs, but sentiment remains in check with US benchmark bond yields close to seven-year peaks, and as investors weigh how much more policy tightening is in store from the US Federal Reserve, according to Nine News Australia. European shares trod water, failing to extend gains seen in Asia where Shanghai-listed shares closed almost one per cent higher at eight-week highs. To improve your experience update it here News World China leads world stocks,trade war hurdles10 20pm Sep 26, 2018Facebook Tweet MailA Chinese equity bounce has set a modestly positive tone for world stocks as bets that Beijing would expand stimulus to support its economy helped offset some of the worries about global trade tensions and US80 A110 -a-barrel oil. However, Wall Street looked set for a firmer session, with futures for all three New York indices up around 0.2 per cent. Beijing is not expected to follow the US Federal Reserve in raising interest rates this week. Chinese shares rose after global index provider MSCI said it could quadruple China's weighting in global benchmarks, lending fresh impetus to a market already buoyed by expectations of state stimulus to offset the impact of US tariffs. (news.financializer.com). As reported in the news.

transport hubs: The currency had already dropped by more than 50% this year amid fears about a recession and high levels of government debt, and despite the government imposing fresh austerity measures in an attempt to stem the crisis, according to The Guardian. The resignation came as a nationwide strike called by unions closed public transport hubs and ports across the country, and thousands of people took to the streets of Buenos Aires to protest against the policies of President Mauricio Macri. In the latest twist of the economic crisis, Luis Caputo resigned unexpectedly on Tuesday, sending the peso tumbling on the foreign exchanges. Sign up to the daily Business Today email or follow Guardian Business on Twitter at Business Desk The central bank said Caputo had resigned for personal reasons, and that a deal with the IMF would re-establish confidence in the country's economic and financial policies. Argentinaraised interest rates to 60% under Caputo late last month in an attempt to restore confidence in the peso, but the currency continued to fall. The government said Caputo had been replaced by the former economic policy secretary Guido Sandleris. (news.financializer.com). As reported in the news.

wells: Shares of JPMorgan, Citigroup, Wells Fargo Bank of America and M&T Bank were up between 0.14 per cent and 0.60 per cent in trading before the bell, according to Nine News Australia. With a third rate hike all but certain and chances of a fourth increase in December firming, after robust consumer confidence data on Tuesday, investors are focused on whether healthy economic growth will prompt the Fed to ramp up the pace of monetary tightening. To improve your experience update it here News World Futures steady ahead of expected rate hike10 07pm Sep 26, 2018Facebook Tweet MailUS stock index futures have edged higher, with bank stocks among the gainers, ahead of a widely expected Federal Reserve interest rate hike. Some analysts are expecting a more aggressive tilt, whether it comes in the policy statement, the accompanying economic and interest rate projections, or at Fed Chairman Jerome Powell's press conference. The question facing investors is how will the bond market react 'will yields skyrocket ' Initially we don't think so, but a steady long rise should be expected resulting in a challenge to equities. It's no secret that a rate hike is looming and most likely a Fed that is ready and willing to end an accommodating interest rate era, Peter Cardillo, chief market economist at Spartan Capital Securities in New York, wrote in a note. (news.financializer.com). As reported in the news.

bloomberg: Source Bloomberg react-empty 278 More From Bloomberg Surveillance07 12Puerto Rico Governor Says Congressional Funds Are Needed to Rebuild1 hours ago01 40Phillips Curve Is Dead and Never Coming Back, Gartman Says2 hours ago02 53Low Risk of U.S. Recession, Renaissance Macro's Dutta Says3 hours ago02 22 21'Bloomberg Surveillance' Full Show 09/26/2018 16 hours ago 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, according to Bloomberg. More episodes and clips04 45DHL Global Trade Barometer Shows Solid Growth for World Trade01 50Italian Budget Negotiations Hit by Last-Minute Dispute06 16China Renaissance to Invest in Wealth Management, CEO Bao Says03 42Philippine Central Bank Likely to Raise Rates, Stan Chart's Mann Says Quick Take Explaining the world with Bloomberg News More episodes and clips02 43It's Getting Harder to Spot a Deep Fake Video03 15Why Japan's Women Problem Is So Hard to Fix02 35Quantum Computing Is One Step Closer to Reality02 08China Could Soon Become the Detroit of Electric Cars 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. He speaks on Bloomberg Surveillance. More episodes and clips48 11The David Rubenstein Show Jeff Bezos24 03The David Rubenstein Show Dr. Jim Yong Kim24 05The David Rubenstein Show Oscar Munoz24 02The David Rubenstein Show Dennis Muilenburg See all shows (news.financializer.com). As reported in the news.

ceo bao: Source Bloomberg react-empty 278 More From Bloomberg Markets04 45DHL Global Trade Barometer Shows Solid Growth for World Trade4 hours ago01 50Italian Budget Negotiations Hit by Last-Minute Dispute5 hours ago06 16China Renaissance to Invest in Wealth Management, CEO Bao Says9 hours ago03 42Philippine Central Bank Likely to Raise Rates, Stan Chart's Mann Says9 hours ago All episodes and clips Quick Take Explaining the world with Bloomberg News More episodes and clips02 43It's Getting Harder to Spot a Deep Fake Video03 15Why Japan's Women Problem Is So Hard to Fix02 35Quantum Computing Is One Step Closer to Reality02 08China Could Soon Become the Detroit of Electric Cars 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 clips48 11The David Rubenstein Show Jeff Bezos24 03The David Rubenstein Show Dr. He speaks on Bloomberg Markets China Open. Jim Yong Kim24 05The David Rubenstein Show Oscar Munoz24 02The David Rubenstein Show Dennis Muilenburg See all shows (news.financializer.com). As reported in the news.

deal: Foster, whose party struck a deal with Theresa May which is keeping the UK government in power, is facing demands to resign because of her role in the renewable heat incentive scheme, according to The Guardian. She was the politician in charge of energy matters in Northern Ireland when the initiative was set up in 2012 to encourage uptake of eco-friendly heating systems. A public inquiry into the cash for ash scandal heard evidence from Foster on Tuesday that she had told the late deputy first minister about a note from a whistleblower that claimed people were abusing the system for financial gain. Overgenerous fuel subsidies meant some people, often farmers, left their boilers running 24 hours a day to make an easy profit. Questions over the DUP's handling of the scheme led to the collapse of power sharing at Stormont more than 18 months ago. The scheme left the government with a 490m bill. (news.financializer.com). As reported in the news.

cent: Following falls across Asian share markets, European bourses turned higher, with a pan-European index up 0.5 per cent . Futures for New York's S&P500, Nasdaq and Dow Jones indices were up to 0.25 per cent higher, indicating a stronger session following Monday's falls .MSCI's main index of world stocks also inched into positive territory, though it held off the six-month highs hit earlier this month, according to Nine News Australia. While trade tensions continue to fray investors' nerves, oil grabbed the spotlight. To improve your experience update it here News World Oil offsets trade and bond market chill10 32pm Sep 25, shares have risen and Wall Street is set for a stronger open, as oil above US80 A110 a barrel lifted energy shares, despite worries around the latest US-China tariff round and central bank rate hikes. After surging more than three per cent on Monday, Brent crude futures shot to four-year highs of almost US82 A113 a barrel. The combination of tight supply, healthy demand, falling global inventories - down from already under-stored levels - and anemic spare capacity helps support an oil price which could end the year above US90 A124 Richard Robinson, manager of Ashburton's Global Energy Fund, said. The jump was down to US sanctions on Iranian crude exports and the apparent reluctance of OPEC and Russia to counterbalance that by upping output. (news.financializer.com). As reported in the news.

games: I'm getting the team ready, according to The Toronto Star. The Canadian Press I get the fans in the short-term. I apologize for that, but we play eight exhibition games, and we have to have our team ready, said Babcock. But you know what the fans want us to do Okay. The Leafs play eight exhibition games -- four home-and-homes with the closest geographical rivals. Babcock intimated the fans of course want the Leafs to win the Stanley Cup, and this was part of it. (news.financializer.com). As reported in the news.

instagram: Kevin Systrom and Mike Krieger, who have been at the company since Instagram's acquisition by Facebook in 2012, had been able to keep the brand and product independent while relying on Facebook's infrastructure and resources to grow, according to The Toronto Star. Lately, they were frustrated with an uptick in day-to-day involvement by Zuckerberg, who has become more reliant on Instagram in planning for Facebook's future, said the people, who asked not to be identified sharing internal details. The stock dropped 2 per cent in pre-market trading Tuesday. Kevin Systrom, left, and Mike Krieger, Instagram's co-founders, in their headquarters in Menlo Park, Calif., March 24, 2017. For years, Systrom and Krieger were able to amicably resist certain Facebook product initiatives that they felt went against their vision, while leaning on Facebook for resources, infrastructure and engineering talent. CHRISTIE HEMM KLOK / New York Times Without the founders around, Instagram is likely to become more tightly integrated with Facebook, making it more of a product division within the larger company than an independent operation, the people said. (news.financializer.com). As reported in the news.

p index: The Canadian dollar traded lower at 77.23 cents U.S. compared with an average of 77.31 cents U.S. on Monday, according to The Toronto Star. Frank Gunn / THE CANADIAN PRESS In New York, the Dow Jones industrial average was down 4.41 points at 26,557.64. The S&P/TSX composite index was up 53.26 points at 16,260.58. The S&P 500 index was down 1.78 points at 2,917.59, while the Nasdaq composite was down 11.44 points at 7,981.81. The November crude contract was up 36 cents at 72.44 U.S. per barrel and the November natural gas contract was up 1.5 cents at 3.04 U.S. per mmBTU. Article Continued Below The December gold contract was up 1.90 9 U.S. at 1,206.30 U.S. an ounce and the December copper contract was down 0.30 of a cent at 2.83 U.S. a pound. The Canadian dollar traded lower at 77.23 cents U.S. compared with an average of 77.31 cents U.S. on Monday. (news.financializer.com). As reported in the news.

period: The deficit in 2017/18 was 10.1 billion in the year, or 0.6 per cent of gross domestic product, according to the final budget outcome released on Tuesday, according to Nine News Australia. That's a 19.3 billion improvement on the deficit originally estimated for the period. To improve your experience update it here News National Smallest deficit in a decade Treasurer11 09am Sep 25, 2018Facebook Tweet Mail The federal government has delivered the smallest budget deficit in a decade, on the back of a bigger tax take and growing economy. Stronger-than-expected economic growth and more Australians in work contributed to the impressive improvement, Treasurer Josh Frydenberg says. That's the result of a strong economy, Mr Frydenberg told reporters in Sydney in Tuesday. The amount of money coming in was 13.4 billion higher than expected, while total spending was 6.9 billion less than forecast, with the Future Fund earnings up 1.1 billion in net terms. (news.financializer.com). As reported in the news.

petro matrix: Now after Tuesday's high a leading analyst has said that if prices climbed to 100 a level not seen since September 2014 growth in oil demand would be annihilated and demand would fall sharply, according to The Guardian. Moreover, Petro Matrix said, emerging economies' growth could suffer because of steep crude prices causing inflationary pressures that lead to interest rate rises. Some market watchers have predicted prices between 90 and 100 by the year's end after Opec last weekend rebuffed Donald Trump's demands for the oil cartel to rein in prices by expanding production. Those countries could also be forced to cut oil taxes, widening budget deficits. The price of Brent crude, the international benchmark, has crept up in the past week as it became clear that major oil producers were not planning to increase output. Any slowing in emerging markets would add to the recent economic challenges facing countries including Turkey and Argentina. (news.financializer.com). As reported in the news.

rights council: China, Iran, OPEC, the World Trade Organisation, the International Criminal Court and the UN Human Rights Council were all in the president's sights, according to Nine News Australia. Trump has repeatedly told supporters at rallies that America had become a laughing stock on the world stage under previous administrations, but early in his UN speech audience members broke into laughter when he declared, in less than two years my administration has accomplished more than almost any administration in the history of our country . Didn't expect that reaction, but that's okay, a smiling Trump responded. To improve your experience update it here News World Trump lauds 'Rocket Man'; unloads on Iran4 52am Sep 26, 2018Facebook Tweet MailA year ago US President Donald Trump stood at the podium inside the United Nations' general assembly in New York and ridiculed North Korean leader Kim Jong-Un as Rocket Man on a suicide mission for himself and for his regime . On Tuesday, standing in the same spot in front of delegations from Australia and the rest of the world, Trump showered Kim with praise while unloading fiery language on other targets and world bodies. The theme of Trump's speech was sovereignty. Related Articles Woman kept dead mum's body 'to see stages of death'Jonestown Massacre 'He was a monster and had lost his mind'Voices of missing autistic boy's parents pumped into woods in desperate effort to find him five days after he ran off The United States will not tell you how to live or work or worship. I honour the right of every nation in this room to pursue its own customs, beliefs, and traditions, Trump said. (news.financializer.com). As reported in the news.

gold industry: The 59-year-old South African will take the role of chief executive officer at Barrick after the Canadian company inked a 5.4 billion deal to buy out Randgold Resources Ltd, according to The Toronto Star. It's a bigger stage for Bristow, known as an outsider for his sharp and frequent criticisms of the gold industry and a genius at running an African mine. Now he's its closest partner. Randgold has been one of the U.K.'s great corporate success stories, delivering a 4,000 per cent return since the end of 1999 making it the best stock in the FTSE 100 Index. He's fond of cigars and big-game hunts, as well as motocross expeditions across Africa. Akos Stiller / Bloomberg Bristow's personality looms large. (news.financializer.com). As reported in the news.

housing: Accessibility in residential buildings also allows people to visit others, rather than being isolated in their own unit, according to The Toronto Star. Let's catch up with Europe and build Euro-design fully accessible housing. Accessible housing not only enables people to live in their own homes, but also eases the load of the caregivers who must assist them. It costs less than 1 per cent more than standard housing if included from the design stage. So what is stopping us Do we really want to sentence people with disabilities to long-term care jails Article Continued Below Kate Chung, Toronto Report an error Journalistic Standards About Us WHEN IT COMES TO EXPERT ADVICE, COME TO US.NEW NEWSLETTERADVICESIGN UP (news.financializer.com). As reported in the news.

nasdaq trading: The benchmark index for euro zone blue chips retreated 0.4 per cent, while the pan-European STOXX 600, which also includes stocks in the UK and outside the European Union, was down 0.3 per cent, according to Nine News Australia. US shares were also expected to open lower, with futures for the S&P 500 and the Nasdaq trading down 0.2 per cent and O.3 per cent respectively. To improve your experience update it here News World Euro markets dip as trade, Brexit weigh8 28pm Sep 24, stock markets have traded in negative territory as fears of an escalating trade row between the United States and China spread from Asian markets, while oil rallied as US sanctions restricted Iranian crude exports. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.9 per cent after China accused the United States of engaging in bullying over trade, added US60 billion A83 billion of US products to its import tariff list and reportedly cancelled mid-level talks. This is here to stay commented Adrien Dumas, a manager at Mandarine Gestion in Paris, arguing that because trade is at the core of the Trump administration's agenda, investors should accept that the trade war theme is unlikely to recede any time soon. Buoyant dealmaking - with Comcast winning a pay-TV bidding war for Sky in the UK and Randgold Resources' merger with Canada's Barrick Gold - was not enough to defuse fears that the standoff between the two biggest world economies would hurt. (news.financializer.com). As reported in the news.

p tsx: The Canadian dollar traded lower at 77.34 cents U.S. compared with an average of 77.42 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 145.21 points at 26,598.29. The S&P/TSX composite index was down 5.88 points at 16,218.25. The S&P 500 index was down 14.96 points at 2,914.71, while the Nasdaq composite was down 38.23 points at 7,948.72. The November crude contract was up 1.39 U.S. at 72.17 U.S. per barrel and the November natural gas contract was up 5.5 cents at 3.03 U.S. per mmBTU. Article Continued Below The December gold contract was up 7.30 U.S. at 1,208.60 U.S. an ounce and the December copper contract was down 0.70 of a cent at 2.85 U.S. a pound. The Canadian dollar traded lower at 77.34 cents U.S. compared with an average of 77.42 cents U.S. on Friday. (news.financializer.com). As reported in the news.

persian gulf: The dead from Saturday's attack in the southwestern city of Ahvaz, blamed on Arab separatists, ranged from a disabled war hero to a four-year-old boy, according to Nine News Australia. The assault killed members of Iran's elite Revolutionary Guard, including conscripts, wounded over 60 others and further ratcheted up tensions across the Persian Gulf ahead of this week's United Nations General Assembly. To improve your experience update it here News World Wails, vows of revenge at Iran funeral after parade attack5 18am Sep 25, wails and vows of revenge, thousands of Iranians have attended a mass funeral service for victims of a weekend attack targeting a military parade that killed at least 25 people. The father of 4-year-old victim Mohammad Taha lay atop his son's flag-draped coffin sobbing, a public display of grief near the Sarallah Mosque in Ahvaz, the capital of Iran's oil-rich province of Khuzestan. Mourners also played drums, cymbals and horns, according to local customs. Women in long black chadors held back tears while rhythmically striking their chests, a traditional way of showing grief. (news.financializer.com). As reported in the news.

price: Is the price increase justified, or are we witnessing a bubble One might think the increase is justified, given that real quarterly S&P 500 reported earnings per share rose 3.8-fold over essentially the same period, from the first quarter of 2009 to the second quarter of 2018, according to The Guardian. In fact, the price increase was a little less than equal to earnings. This makes the US stock market the most expensive in the world, according to the cyclically adjusted price-to-earnings CAPE ratio that I have long advocated. Of course, 2008 was an unusual year. But it is important to bear in mind that earnings are highly volatile. What if we measure earnings growth not from 2008, but from the beginning of the Trump administration, in January 2017 Donald Trump's currency confusion continues Jeffrey Frankel Read more Over that 20-month interval, real monthly US stock prices rose 24%. From the first quarter of 2017 to the second quarter of 2018, real earnings increased almost as much, by 20%. With prices and earnings moving together on a nearly one-for-one basis, one might conclude that the US stock market is behaving sensibly, simply reflecting the US economy's growing strength. (news.financializer.com). As reported in the news.

scrabble: Merriam-Webster released the sixth edition of The Official Scrabble Players Dictionary, four years after the last freshening up, according to Nine News Australia. OK is something Scrabble players have been waiting for, for a long time, said lexicographer Peter Sokolowski, editor at large at two and three-letter words are the lifeblood of the game. To improve your experience update it here News World Scrabble adds new words including OK, ew7 03pm Sep 24, players, time to rethink your game because 300 new words are coming your way, including some long-awaited gems OK and ew. There is more good news in qapik - a unit of currency in Azerbaijan - adding to an arsenal of 20 playable words beginning with q that do not need a u. Most of these are obscure. Every time there's a word with q and no u, it's a big deal, Sokolowski said. (news.financializer.com). As reported in the news.

war: Soon after the tariffs went into effect, China issued a 36,000-word white paper accusing the US of economic hegemony that threatens the global multilateral trading system as well as Sino-US ties, according to Xinhua, according to The Guardian. Q&A What is the US-China trade war about Show Hide Even while running for president, Donald Trump waged a war of words against China, promising punitive import tariffs to bring back jobs to America. US tariffs on 200bn worth of Chinese goods and retaliatory tariffs by Beijing on 60bn worth of US products took effect at 0400 GMT. The two countries already exchanged tariffs on 50bn worth of each other's goods earlier this year. The president believes slapping import tariffs on Chinese goods will raise their price versus American equivalents, giving US companies the edge when selling products to domestic consumers. The danger is import tariffs drive up the price of goods for consumers and trigger an economic slowdown.US Census Bureau figures show that US imports from China exceeded exports going the other way by 376bn last year. The hope is businesses will hire more workers, as domestic manufacturing becomes more competitive against foreign competition. (news.financializer.com). As reported in the news.

currency dealer: Mnangagwa's campaign slogan was Zimbabwe is open for business but people in the former British colony say conditions have deteriorated since the election, according to The Guardian. Medieval' cholera outbreak exposes huge challenges in Zimbabwe Read more Majory Manjoro, a part-time currency dealer in Harare, said life had become unbearable. The poll, the first after the military takeover that led to the ousting of Robert Mugabe, was won by the ageing autocrat's former righthand man, Emmerson Mnangagwa. Things are getting worse. Although the elections in July did not see the systematic violence of those under Mugabe, alleged irregularities during the count and violent repression following the vote have resulted in only lukewarm support for Mnangagwa and the ruling Zanu-PF party from major international powers. Everything goes up in price . Those in authority need to make sure things get better, Manjoro, 33, said. (news.financializer.com). As reported in the news.