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

accor hotel: After glad-handing bank chiefs in the City, any investment plans they discussed could have been further developed using cloud office app Slack, according to The Guardian. On the US leg of the journey, perhaps slumming it in an Accor hotel, MBS and his entourage might have dialled up a plate of the Saudi national rice dish, kabsa, from delivery service Door Dash. Landing in London, MBS might have dispensed with his chauffeur-driven car, travelling into the capital by Uber, while his aides finalised his itinerary on smartphones powered with chips designed by Cambridge-based ARM Holdings. Later, they could have relaxed by playing computer games partly designed by simulation technology firm Improbable. Under the stewardship of the young prince he is just 33 the PIF has adopted a more aggressive investment approach, seeking out eye-catching, forward-looking deals, particularly technology startups. Every one of these companies is part of the portfolio of Riyadh's Public Investment Fund PIF which manages the country's oil wealth. (news.financializer.com). As reported in the news.

mine wendt: Source Bloomberg More From Bloomberg Daybreak Australia48 24'Bloomberg Daybreak Australia' Full Show 10/23/18 13 hours ago03 42Trump Says Not Satisfied' as Mnuchin Meets Saudi Prince14 hours ago04 47BHP a 'Standout' With Geographical, Commodity Spread, Mine Life's Wendt Says14 hours ago02 47Coronado Raises 550 Million in Australia's Biggest Coal IPO14 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 clips05 30Bank of Ghana on Interest Rates, Cedi, Inflation02 27We Are Neutral on U.S. Dollar Versus G-10, Says Deutsche Bank's Goel02 42Singapore Stock Valuations Near Lowest in 10 Years09 31American Apparel & Footwear Association Has 'Big Worries' About Trump the world with Bloomberg News More episodes and clips02 53China's Tech Giants Aren't Copycats Anymore02 33Taking From the Rich Might Not Help the Poor02 43It's Getting Harder to Spot a Deep Fake Video03 15Why Japan's Women Problem Is So Hard to Fix 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 with Ramy Inocencio on Bloomberg Daybreak Australia. More episodes and clips24 05The David Rubenstein Show Christine Lagarde24 05The David Rubenstein Show Barry Diller48 11The David Rubenstein Show Jeff Bezos24 03The David Rubenstein Show Dr. Jim Yong Kim See all shows (news.financializer.com). As reported in the news.

pascal: Yet that is not unlike what this country would be doing if the wishes of the Brexit extremists were to be realised, according to The Guardian. The analogy was made recently by a man who ought to know, namely the distinguished French civil servant Pascal Lamy. Many of the people who voted to leave Europe follow closely the ups and downs of the teams in the Premier League, teams whose stars and managers are often from, well, Europe . It is unimaginable that any football fan would want his or her team to descend from the Premier League to the lowest, just like that. Lamy is a former director of the World Trade Organisation, into whose rulebook hard Brexiters wish to precipitate us if a stop is not put to Brexit. The WTO is the bottom. At a recent event at the London School of Economics in honour of the late Peter Sutherland the man who set up the WTO and whom Lamy succeeded the latter could hardly have put it more plainly The internal market is the top league. (news.financializer.com). As reported in the news.

runner: Olympic runner Cam Levins broke the 43-year-old Canadian marathon record Sunday when he crossed Toronto's finish line in two hours nine minutes 25 seconds, according to The Toronto Star. The British Columbian runner says he used his debut race for practicing his pace. The 29-year-old from Black Creek, B.C. finished fourth in Sunday's Scotiabank Toronto Waterfront Marathon, but emerged as the main story by toppling one of the oldest records in Canadian running. Jerome Drayton ran 2 10 09 in Japan in 1975, so long ago that the average house in Toronto sold for 57,581. In 2015, Canadian veteran Reid Coolsaet targeted Drayton's mark on a record-friendly Berlin Marathon course and still fell 19 seconds short. That record survived 43 years and several serious attempts to lower it. (news.financializer.com). As reported in the news.

tech companies: The results will come after a difficult month for the tech companies, according to The Guardian. Just over two weeks ago, the worst drop in the Dow Jones average in eight months was led by sharp declines in technology stocks, mirrored on the Nasdaq. Microsoft, Alphabet Google's parent Amazon, Snap Inc Snapchat Twitter, Facebook, Apple and Spotify are all scheduled to report quarterly results between now and the start of November, with four of them making their announcements on the same day. That Wednesday, the best-performing stocks over the past year which include the so-called Faang companies Facebook, Apple, Amazon, Netflix and Google took some of the biggest losses. Tech companies tend to be highly leveraged, so can be vulnerable to rising interest rates. Amazon was down 6.2% and Netflix 8.4%. There were several factors contributing to the drop, concerns over trade tensions between the US and China and rising interest rates being the most prominent. (news.financializer.com). As reported in the news.

women: Social Services Minister Lisa Macleod scrapped an advisory panel on violence against women without putting forth the government's action plan to end this social ill, according to The Toronto Star. Chris Young / THE CANADIAN PRESS It's bad enough that the Ford government doesn't appear to see helping Ontario's most vulnerable women as a significant priority. In another worrisome move, her cabinet colleague, Attorney General Caroline Mulroney, acknowledged she has delayed delivering critically needed, already-budgeted funding to sexual-assault crisis centres across the province. But more than that, these moves are further evidence of a troubling trend by the Ford government to cut first, think later and damn the consequences. The government should be asking itself If not this, than what before it pulls the plug on any programming. Indeed, axing programs without researching their merits or having readied anything with which to replace them has proven to be not just unwise, but potentially costly and dangerous. (news.financializer.com). As reported in the news.

pension scheme: The good news is, locating it is often a lot easier than you might think, according to The Guardian. Yvonne Mavin is one of those who lost track of an old pension pot. This is typically money that people paid into a former employer's pension scheme and then forgot about, or lost track of. She used the government's online Pension Tracing Service PTS and told Guardian Money this week that she was stunned to find that the pension plan from years ago was worth 10,000. In the meantime, the firm that managed your money may have been taken over, changed names or largely shut down. Frozen state pensions thousands sign protest petition Read more Losing track of retirement cash typically occurs when changing jobs or moving home for example, you forget to tell the company you used to work for that you have moved to a new address. (news.financializer.com). As reported in the news.

ritz-carlton hotel: In the glittering lobby of the Ritz-Carlton hotel in Riyadh previously the world's most opulent prison during the detention of more than 30 of the kingdom's most powerful princes and business leaders guests chattered beneath a cluster of crystal globes that hung from the ceiling, their glow reflected in the polished marble floor, according to The Guardian. An eerie sense of a need for business as usual permeated throughout the capital and beyond. Outsized images of a smiling King Salman and his son Mohammed bin Salman, the crown prince, gazed down on passing motorists from Riyadh's glass tower blocks as normal. Jamal Khashoggi obituary Read more Yet late on Friday night, the Saudi Press Agency said that Khashoggi was killed when a fight with 18 suspected individuals at the Saudi consulate in Istanbul led to his death . The statement added that the 18 arrested would be brought to justice by referring them to the competent courts in the Kingdom of Saudi Arabia . The Saudi public prosecutor's office also announced the sacking of a top intelligence chief, an influential advisor to the crown prince and other top officials, in a purge following the incident. Months of repression of critical voices, including the arrests of clerics, women who had opposed the driving ban, human rights activists and journalists, had convinced many that they should think twice before speaking out, even in private. In Riyadh and Jeddah, conversations about Khashoggi were conducted in hushed tones, often using only his first name to disguise the topic or mentioning only a political crisis . Some Saudis previously willing to offer cautious criticism of the political crackdown declined to speak at all. (news.financializer.com). As reported in the news.

road races: But this year's edition is missing a key feature we've seen in the past a clear-cut favourite, according to The Toronto Star. Sunday's deep Toronto Waterfront Marathon field will include Philemon Rono, who broke the course record last year. In 2015, the event earned the IAAF's gold-label designation, reserved for prestigious big-city road races. Steve Russell / Toronto Star file photo Organizers say that's by design. For the first time, the women's marathon features an athlete Ethiopia's Amane Beriso with a personal best faster than two hours, 21 minutes. While the waterfront race has never splurged on appearance fees for super-elite performers, organizers say this year they were able to spend on depth. (news.financializer.com). As reported in the news.

trump: I think there is a genre that better fits our age of Trump and Brexit, of debt and overwork, of limited healthcare and housing, according to The Guardian. It's a sort of madcap pop that seeks to represent inequality through exuberant weirdness. I disagree. I call it hysterical surrealism . Dystopian sci-fi tends to depict the near future as authoritarian and abusively hyper-disciplined, overseen by regimes that control citizens' bodies and minds. Rather, it is hysterically surreal wildly disorganized and abusively unpredictable, with hirings and firings and public displays of rage and porn stars and, occasionally, the darkest comedy. But the Trump era isn't one of extreme order. (news.financializer.com). As reported in the news.

cannabis stocks: Canadian dollars fall in a photo illustration in Vancouver in 2011, according to The Toronto Star. JONATHAN HAYWARD / THE CANADIAN PRESS The health-care sector fell the most at 3.46 per cent as cannabis stocks lost ground for a third-straight day since legalization. Consumer staples, real estate, utilities and telecommunications sectors were the winners Friday as all but two sectors on the Toronto Stock Exchange gained on the day. It was followed by technology which lost 1.65 per cent. What kind of stands out for me is the breadth of the defensive, he said in an interview. There was a defensive tilt to the trading on both sides of the border, said Ian Scott, an equity analyst at Manulife Asset Management. (news.financializer.com). As reported in the news.

credit controls: Much of the blame for the slowdown was heaped on Beijing's credit controls, which had restricted lending and investment, especially in heavy industries, according to The Guardian. Beijing tightened controls on lending last year to rein in a debt boom. Growth in the three months to the end of September slipped to 6.5% from 6.7% in the previous quarter, official data showed, to mark the slowest rate of quarterly GDP growth since early 2009. That has weighed on housing sales and consumer spending. Credit controls and trade tensions were taking a bite out of economic momentum said Bill Adams, a senior economist at PNC Financial Services Group, in a report. Car buyers are steering clear of dealerships. (news.financializer.com). As reported in the news.

exports: That's its weakest quarterly growth since the depths of the global financial crisis in early 2009 and below economists' expectations of 6.6%. The Chinese economy has lost momentum this year following government efforts to try to rein in high levels of debt, according to CNN. It has also started coming under pressure from US tariffs on more than 250 billion of its exports. The world's second biggest economy grew 6.5% in the third quarter of this year, according to official data published Friday. China is pumping more cash into its economy as the trade war heats up Chinese officials have turned to tax cuts, infrastructure spending and looser monetary policy as they seek to prop up growth. He predicts the slowdown will bottom out around the middle of next year. We think more easing will still be needed in order to stabilize growth, Julian Evans-Pritchard, senior China economist at research firm Capital Economics, said in a note to clients Friday. (news.financializer.com). As reported in the news.

growth: That's its worst performance since the depths of the global financial crisis in early 2009 and weaker than economists expected, according to CNN. Government efforts to rein in debt are putting the brakes on growth, and US tariffs on 250 billion of Chinese exports are set to make things worse. China's growth slows The world's second biggest economy grew 6.5% in the third quarter of this year. (news.financializer.com). As reported in the news.

house: White House chief economic adviser Larry Kudlow tells a good story . . . about an interesting story, according to The Toronto Star. Pablo Martinez Monsivais / AP file photo According to the Washington Examiner, which was in attendance, Kudlow said that one of his friends in the White House, who will go unnamed, said they were pleased they had managed to come to a trade agreement with Canada despite Trudeau.TOP STORIES. For the day's top news from the Star's award-winning journalists, sign up for our daily headlines newsletter. Larry Kudlow, Trump's chief economic adviser, recounted the story at an invitation-only dinner hosted by the American Spectator, a conservative magazine. We didn't walk away. We made a deal. We didn't end it. (news.financializer.com). As reported in the news.

jason dean: Jason Dean Lynch today pleaded guilty to possessing dangerous drugs, which the judge ruled he intended to sell, after police seized cannabis and cash from the house, according to Nine News Australia. Lynch tried to argue he won the cash on the pokies and also earned it from cash in hand jobs while receiving welfare. To improve your experience update it here News National Man avoids jail after using public housing to store illegal drugs7 25pm Oct 19, 2018Facebook Tweet MailA public housing tenant has avoided jail after using a taxpayer-funded house to store illegal drugs. Jason Dean Lynch outside court today. 9NEWS The family are still living in the public housing home. 9NEWS His claims were rejected by the court, which was told police found electronic scales, five mobile phones and a stun gun in the house. Lynch was instead sentenced to 18 months' supervision. The judge opted not to give Lynch a jail sentence due to his mental health issues. (news.financializer.com). As reported in the news.

leftfield: A year on, however, she has given the album a second lease of life as Take Me a Part, the Remixes, according to The Guardian. And she is not the only one giving their latest release a late-campaign buff-up playful synthpop duo MGMT have gifted February's underwhelming fourth album Little Dark Age a thorough overhaul from leftfield electronicist Matthew Dear, while Alt-J just dropped Reduxer, a rap-heavy do-over of their recent Relaxer LP which is, frankly, better than it has any right to be. Translating those accolades into record sales, however, was to prove tricky the album failed to break either the US Billboard Top 100 or UK's Top 50 charts. The remix album has a long history, much of it woeful the sound of fading stars opportunistically belly-flopping beside bandwagons Sly Stone desperately dressing his faultless funk classics up in gaudy disco gear on 1979 turkey Ten Years Too Soon or rockers glumly retooling their hits for dancefloors where they don't belong dance great Shep Pettibone dragging Level 42's Lessons in Love out into an endless, priapic rut on 1987's The Family Edition . And the less said about the millennium-era fad for mashups the better. Consider Brit-soul bohemians Imagination's icy funk getting remixed by godlike DJ Larry Levan for their overlooked 1983 masterpiece Nightdubbing; Soft Cell's accurately titled Non-Stop Ecstatic Dancing, which enlivened their perfect perv-pop with some of the first MDMA to enter the UK; A Tribe Called Quest rewiring their debut with dancehall skank and Carly Simon's midlife ennui on 1992's Revised Quest For The Seasoned Traveller; or Bj rk stripping back her intense 2015 breakup album Vulnicura on Vulnicura Strings. He was like the Messiah' Larry Levan, the DJ who changed dance music forever Read more But then there are those remix albums that redeem this cynical, old-rope-selling concept, reimagining old songs in new contexts, translating artists for different audiences, and uncovering infinite new creative possibilities within the familiar. (news.financializer.com). As reported in the news.

show chang: Source Bloomberg More From Bloomberg Markets The Close' Full Show Chang Says China's Currency Biggest Issue03 40Goldman's Moran on Corporate Pension De-Risking Strategies06 37Former CFIUS Director on Broadcom-CA Deal Scrutiny All episodes and clips Quick Take Explaining the world with Bloomberg News More episodes and clips02 53China's Tech Giants Aren't Copycats Anymore02 33Taking From the Rich Might Not Help the Poor02 43It's Getting Harder to Spot a Deep Fake Video03 15Why Japan's Women Problem Is So Hard to Fix 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 Christine Lagarde24 05The David Rubenstein Show Barry Diller48 11The David Rubenstein Show Jeff Bezos24 03The David Rubenstein Show Dr. Bloomberg Chief Economist Michael McDonough speaks on Bloomberg Markets. Jim Yong Kim See all shows (news.financializer.com). As reported in the news.

women: The East African nation late on Thursday announced that women now make up half of the slimmed-down, 26-seat cabinet, according to Nine News Australia. Rwanda joins a handful of countries, mostly European, where women make up 50 per cent or more of ministerial positions, according to the Inter-Parliamentary Union and UN Women. To improve your experience update it here News World Rwanda names 50 per cent female cabinet10 36pm Oct 19, 2018Facebook Tweet Mail Two days after Ethiopia announced one of the world's few gender-balanced cabinets with 50 per cent women, Rwanda has done the same. The country has received international recognition for female representation in government, with women making up 61 per cent of parliament members. Abiy reportedly told lawmakers that women are less corrupt than men. Ethiopia's move this week was the latest in a series of dramatic political and economic reforms under Prime Minister Abiy Ahmed, who took office in April. (news.financializer.com). As reported in the news.

life savings: Victims on a chat group seen by 9news.au claim to have collectively lost thousands to the same man who claims to be selling tickets to sold-out events, according to Nine News Australia. University student Sophie Owen, 18, said she lost her life savings in the scam. To improve your experience update it here News National Event goers claim to have lost thousands in ticketing scam By Amber Schultz2 17pm Oct 19, Australians claim they have been scammed out of hundreds of dollars by an alleged Facebook fraudster. It was all of my saving pretty much, she said. Supplied Ms Owen placed an ad on Gumtree looking for tickets to Brisbane's Listen Out festival in August. The ID the man poses with in the photo has expired. (news.financializer.com). As reported in the news.

stock prices: It was the slowest rate since early 2009, according to The Toronto Star. An investor looks at screens showing stock prices at a securities company in Beijing on Friday. Growth in the quarter that ended in September slipped to 6.5 per cent over a year earlier from the previous quarter's 6.7 per cent, official data showed. GREG BAKER / AFP/GETTY IMAGES The world's second-largest economy already was cooling before a tariff war between Beijing and U.S. President Donald Trump erupted. That has weighed on housing sales and consumer spending. Beijing tightened controls on lending last year to rein in a debt boom. (news.financializer.com). As reported in the news.

year rule: Food prices have soared, according to The Guardian. The immediate cause of the crisis was the introduction of a new tax on electronic transactions, but its roots lie in the 37-year rule of Robert Mugabe, Energy Mutodi, the deputy information minister, said. In recent days, some vital commodities have become scarce, with motorists in Harare, the capital, spending a night in their cars in queues outside petrol stations, supermarkets rationing purchases or shutting entirely, and chemists unable to provide some basic medicines. The new 2% levy is intended to raise revenue from the vast informal sector that has mushroomed in recent decades. We are now in a new dispensation so there are a number of economic issues we need to correct. This is an economy that is dealing with the legacy of Mugabe. (news.financializer.com). As reported in the news.

asian equities: China's stock markets were hit hard - its benchmark stock index fell to four-year lows - in a gloomy session for Asian equities and for the yuan which approached a two-month low, according to Nine News Australia. China's premier warned of risks to the economy from an escalating tariff war with the United States. To improve your experience update it here News World Stocks fall after hawkish Fed minutes8 25pm Oct 18, 2018Facebook Tweet Mail The dollar has risen to a one-week high and stocks have edged lower after signs that the Federal Reserve will keep raising interest rates through 2019 undermined a bounce in world markets. European shares, however, largely shrugged off the disappointment in Asia. A pan-European equity index rose 0.4 per cent. London's FTSE traded 0.1 per cent higher and Frankfurt's DAX and Paris's CAC both rose 0.3 per cent. (news.financializer.com). As reported in the news.

bloomberg markets: Bloomberg's Lianting Tu reports on Bloomberg Markets China Open, according to Bloomberg. Source Bloomberg More From Bloomberg Markets The Close' Full Show 10/19/2018 14 hours ago06 12Rockefeller's Chang Says China's Currency Biggest Issue17 hours ago03 40Goldman's Moran on Corporate Pension De-Risking Strategies17 hours ago03 49China's Central Bank Tries to Reassure Investors17 hours ago All episodes and clips Quick Take Explaining the world with Bloomberg News More episodes and clips02 53China's Tech Giants Aren't Copycats Anymore02 33Taking From the Rich Might Not Help the Poor02 43It's Getting Harder to Spot a Deep Fake Video03 15Why Japan's Women Problem Is So Hard to Fix 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. Analysts say it's due to a perception among investors that state support will continue for the debt-laden sector. More episodes and clips24 05The David Rubenstein Show Christine Lagarde24 05The David Rubenstein Show Barry Diller48 11The David Rubenstein Show Jeff Bezos24 03The David Rubenstein Show Dr. Jim Yong Kim See all shows (news.financializer.com). As reported in the news.

bolton: Bolton favors a harder line approach to the issue and criticized Department of Homeland Security Secretary Kirstjen Nielsen during the argument, a source said, according to CNN. Nielsen used to serve as Kelly's deputy when he ran DHS. Bolton reportedly said Nielsen needed to start doing her job, which incensed Kelly. Trump, who was incensed about the rising levels of migrants and threatened to shut down the southern border on Twitter earlier that morning, took Bolton's side during the argument. Trump blew up at homeland security chief over border security The President, who sources say was present for the beginning of the shouting match, later denied knowledge of it. No, Trump told reporters before boarding Air Force One to fly to Montana on Thursday afternoon. I've not heard about it. (news.financializer.com). As reported in the news.

canada: Exxon Mobil Corp and Royal Bank of Canada have been named two largest investors in the Canadian fossil fuel sector between 2010 to 2015, according to The Toronto Star. Ty Wright/Bloomberg News / Ty Wright/Bloomberg News Co-author and University of Victoria sociology professor William Carroll said in a statement that Canada's fossil fuel industry is in the hands of a few major players that have an interest in the sector's continued growth and the economic power that shapes its future. The report titled Who Owns Canada's Fossil-Fuel Sector was issued by the Corporate Mapping Project, a joint initiative by the University of Victoria, the Canadian Centre for Policy Alternatives and the Parkland Institute, with funding in part from the Social Sciences and Humanities Research Council of Canada. Using shareholder and revenue data from Orbis, a company with information on companies worldwide, Carroll found that the top 25 owners accounted for 40 per cent of the total revenues from the fossil fuel industry between 2010 to 2015. Within the top five largest owners, two out of three were Canadian. In this period, the top two investors were Exxon Mobil Corp with 6.57 per cent in average shares and the Royal Bank of Canada with 3.35 per cent in average shares. (news.financializer.com). As reported in the news.