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

holiday quarter: Markets had earlier climbed on hopes that the world's two biggest economies were mending their shaky trade relations, according to Nine News Australia. A steep decline in shares of Apple further weighed on sentiment in the US stock market after the iPhone maker warned that sales during the crucial holiday quarter would likely miss expectations. To improve your experience update it here News World Delay in US-China trade deal hits stocks7 53am Nov 3, that a trade deal between the United States and China may not be imminent have reined in a rally in world equity markets and reversed gains on Wall Street. White House economic adviser Larry Kudlow told CNBC that while US President Donald Trump plans to meet Chinese President Xi Jinping later this month, he has not asked US officials to draw up a proposed trade plan, contradicting a report earlier in the day that had buoyed hopes of a trade dispute resolution. The stock market is focused on tariffs and they believe that increased tariffs are going to hurt the economy, said Mike Rask, director of trading at Hodges Capital in Dallas. That erased early gains in US stocks and curtailed a rally in global markets that had lifted emerging market stocks by their largest daily gain since 2016. (news.financializer.com). As reported in the news.

institutions: As the Australian War Memorial gears up for a controversial half-billion dollar upgrade which will add 10,000 square metres of exhibition space other national cultural institutions in Canberra have been struggling with the basics, according to The Guardian. Since the Coalition came to power in September 2013, institutions such as the National Gallery, the National Film and Sound Archive and the National Archives have been ordered to find more than 75m in savings dubbed efficiency dividends in bureaucratic jargon. Now that oil panorama canvas hangs on the first level of the National Gallery of Australia, where it faces the risk of being rained on itself. Coalition to spend half a billion dollars on Australian War Memorial project Read more Among the vital tasks threatened by the cuts is the preservation of Australia's audio and visual archives through digitisation. Money earmarked for acquisitions has been raided for running costs, according to an auditor general report released in June. So dire have the National Gallery's financial woes become that building maintenance has been neglected. (news.financializer.com). As reported in the news.

investment: Canada's investment dealer regulator says the governments of the Northwest Territories, Nunavut and Yukon have joined seven provinces in granting it legal authority to protect investors and discipline wrongdoers, according to The Toronto Star. Investment Industry Regulatory Organization of Canada President and CEO Andrew Kriegler is interviewed during an event at James Bay New Horizons in Victoria on Friday, April 27, 2018. The Investment Industry Regulatory Organization of Canada IIROC says the superintendents of securities of the three territories are allowing it to collect fines against individuals it has disciplined directly through the courts in each jurisdiction. CHAD HIPOLITO / THE CANADIAN PRESS File IIROC says it will also be better able to improve co-operation with third parties during disciplinary hearings. Last year, IIROC levied more than 4.4 million in penalties against firms and individuals nationally, but collected only 16 per cent of fines against individuals. The territories join Nova Scotia, Prince Edward Island, Quebec, Ontario, Manitoba, Alberta and British Columbia in granting this authority. (news.financializer.com). As reported in the news.

deal: The deal hasn't been finalized and talks could fall through, according to The Toronto Star. Representatives for Brookfield, IDI and Ivanhoe declined to comment. The companies are nearing a deal that could value Atlanta-based IDI Logistics at more than C 4 billion 3.05 billion said the people, who asked to not be identified because the matter isn't public. ELIZABETH CAMERON / Star Metro File Representatives for Brookfield, IDI and Ivanhoe declined to comment. They're drawn to its growth prospects, which correlate with e-commerce. There have been several large industrial real estate deals this year, as institutional investors pile into the sector. (news.financializer.com). As reported in the news.

al: Polls have suggested that while Americans generally approve of the economy's performance, that sentiment hasn't necessarily broadened support for President Donald Trump or Republican congressional candidates, according to The Toronto Star. Al Drago / Bloomberg The influx of new job-seekers in October increased the proportion of Americans with jobs to its highest level since January 2009. The Labour Department's monthly jobs report, the last major economic data before Tuesday's congressional elections, also showed that the unemployment rate remained at a five-decade low of 3.7 per cent. Consumers are the most confident they have been in 18 years and are spending freely and propelling brisk economic growth. The resulting strength in customer demand has led companies to steadily add workers. The U.S. economy is in its 10th year of expansion, the second-longest such period on record, and October marked the 100th straight month of hiring, a record streak. (news.financializer.com). As reported in the news.

shares: Apple, co-founded to sell personal computers by the late Steve Jobs in 1976, became the first company to be valued at 1tn in August when its shares topped 207.05 for the first time, according to The Guardian. But on Friday, the shares were down 7%, falling below 206.50 at lunchtime in New York to take the company's stock market valuation under 1 trillion. The tech company's shares fell sharply on Friday as investors digested a slowing sales picture coupled with reduced financial transparency, after management said that from now on it would withhold the key sales measure from analysts. By close on Friday the shares had pared their losses to finish at 207.48 above the 1 trillion mark. Apple stock market value After Wall Street closed on Thursday, the Apple chief executive, Tim Cook, delivered a double dose of bad news at its quarterly sales update. Nonetheless, the shares were changing hands for 233 last month. (news.financializer.com). As reported in the news.

trump administration: But within hours of the upbeat assessments, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China, according to Nine News Australia. Still, investors cheered the resumption of dialogue and a report that Trump was taking steps to resolve the tariff war, with shares in Asia hitting three-week highs on today and the dollar softening. To improve your experience update it here News World Trump, Xi upbeat on ending trade war9 56pm Nov 2, 2018Facebook Tweet MailUS President Donald Trump and Chinese President Xi Jinping have expressed optimism about resolving their bitter trade disputes ahead of a high-stakes meeting planned for the two leaders at the end of November in Argentia. Both countries presidents have expressed optimism in resolving their issues. Bloomberg later reported, citing people familiar with the matter, that Trump wants to reach a trade agreement with China at the G20 meeting and that after the call with Xi he had asked officials to begin drafting potential terms. Getty Trump said on Twitter that trade discussions with China were moving along nicely, and that he planned to meet with Xi on the sidelines of the G20 leaders summit, after the two had a very good phone discussion yesterday. (news.financializer.com). As reported in the news.

trump: Hong Kong's Hang Seng Index surged more than 4% while China's Shanghai Composite and Japan's Nikkei both jumped about 2.5%. The positive momentum started after US President Donald Trump on Thursday talked up the prospects of a deal on trade with Beijing after speaking with Chinese leader Xi Jinping by phone, according to CNN. Trump said on Twitter that talks were moving along nicely. The biggest rises were in Asia. Why investors are wrong about the trade war with China Asian markets then added to their gains after Bloomberg News reported that Trump has asked US cabinet officials to draft a possible trade deal with China ahead of a planned meeting with Xi at the G20 leaders summit in Buenos Aires later this month. Read More I hope teams from both sides can implement the agreements achieved by the two countries' leaders, the spokesperson said. A spokesperson for China's Ministry of Foreign Affairs confirmed on Friday that Trump and Xi had made progress during a deep discussion. (news.financializer.com). As reported in the news.

west virginia: I think we'll make a deal with China, and I think it will be a very fair deal for everybody, Trump said at the White House on Friday, before leaving for political rallies in West Virginia and Indiana, according to Nine News Australia. Trump said he will have dinner with President Xi Jinping of China at the November 30-December 1 G20 summit of industrial and emerging market nations. To improve your experience update it here News World Trump predicts US trade deal with China8 11am Nov 3, 2018Facebook Tweet MailUS President Donald Trump has expressed confidence he can reach a deal to end a burgeoning trade war with China, saying he will meet his Chinese counterpart at the Group of 20 meetings in Argentina in about a month. The Trump-Xi meeting would be the first since the two countries began hitting each other with import taxes earlier this year. Trump has threatened to impose tariffs on another US267 billion A371 billion in Chinese imports - a move that would cover virtually everything China ships to the United States. The United States has targeted US250 billion A348 billion in Chinese products, and Beijing has lashed back by slapping tariffs on US110 million A153 million worth of US goods. (news.financializer.com). As reported in the news.

australia: Thousands of young professionals in Australia and Indonesia will go on six-month exchanges to build their language and cultural skills if Labor forms government, according to Nine News Australia. It's part of the party's push to get Australian businesses better equipped to do business in Asia. To improve your experience update it here News National Get more businesses into Asia Labor3 10pm Nov 2, Australian business people to speak Asian languages is a priority for a potential Labor government, but finding new free trade deals will take a back seat. But shadow treasurer Chris Bowen isn't going to follow the coalition's path of pursuing a lot of new bilateral trade deals. What of course we'd like to see in the longer term is more multilateral trade liberalisation through the WTO. That's world's best practice. Free trade deals are an appropriate part of the free trade landscape, he told reporters in Sydney on Friday. (news.financializer.com). As reported in the news.

australia: For all of Howard's years as prime minister the United States was the lone superpower in a post-Cold War world, according to Nine News Australia. Australia cuddled up to the US, side-by-side in Afghanistan and Iraq, comfortable in the knowledge it was best mates with the biggest bloke in town. To improve your experience update it here News National Aust leaders walk a fine line on China10 31am Nov 2, Howard had it a lot easier than Scott Morrison and Bill Shorten. Howard left office in 2007 - coincidentally the same year China's economy really exploded. China is now Australia's largest trading partner, with a ravenous appetite for raw materials that kept the economy afloat during the global financial crisis. Over the past decade the Chinese economy has more than doubled in size. (news.financializer.com). As reported in the news.

carney: Bank of England Governor Mark Carney attends the Bank of England's inflation report press conference in the City of London, Thursday Nov. 1, according to The Toronto Star. Kirsty O'Connor/Pool / The Associated Press An abrupt and disorderly withdrawal could result in delays at borders, disruptions to supply chains, and more rapid and costly shifts in patterns of production, severely impairing the productive capacities of U.K. businesses, the bank said in economic projections that accompanied the unanimous rate decision by the nine-member Monetary Policy Committee. After keeping its main interest rate on hold at 0.75 per cent, as expected, the central bank said Britain's economic output could fall sharply if the country fails to reach a deal with the EU on future relations after Brexit day in March. In perhaps its most detailed analysis yet of the potential consequences of a no-deal Brexit, the bank also warned that the pound would likely to fall further in case of a disruptive withdrawal from the EU, which would tend to increase inflation. But it also does not assume that tariffs would be imposed on a wide array of exports. Since Britain voted to leave the EU in June 2016, the central bank has been operating on the assumption that Britain would achieve an orderly transition to a new trading relationship with the EU. Article Continued Below The bank's assumption is that Britain will not ultimately have the same close access to EU markets as it does now. (news.financializer.com). As reported in the news.

charles krupa: Charles Krupa / The Associated Press file photo The investors several of which have pressured Tesla in the past, and achieved mixed results lay out a series of measures the board should take to boost oversight and better hold Musk accountable as chief executive officer, according to The Toronto Star. The billionaire's run-in with the SEC over allegations of securities fraud have added urgency to changes that the investors say are long overdue. Tesla investors several of which have pressured the company in the past, and achieved mixed results lay out a series of measures the board should take to boost oversight and better hold Elon Musk accountable as chief executive officer. Shareholders need new stewards on the board, the investors wrote in a letter Thursday to three of Tesla's independent directors. Read more Article Continued Below Tesla's Model 3 rush costs battery maker Panasonic Elon Musk's 20 million tweet was worth it'Tesla reports a rare profit in the historic' third quarter, beating Wall Street expectations Tesla representatives didn't have immediate comment. The signatories are officials with California, Connecticut, Oregon, New York state and city pension funds, plus CtW Investment Group, which is affiliated with a federation of unions. (news.financializer.com). As reported in the news.

column: Quite how it's taken this column so long to alight lovingly on the winningest public intellectual of our age is unclear, but please now consider me officially very into him, according to The Guardian. This week, I read Jordan's most famous book, 12 Simple Rules For Dating My Teenage Daughter, and found it an absolute scream. Let me say right now that one of our absolute key pieces will be Jordan Peterson. Forgive me the opus is actually called 12 Rules For Life, but it certainly forced me to tear down every other thought leader poster peeling off my bedroom wall. Oscar Wilde wrote The Picture of Dorian Gray in about a fortnight, so imagine how much better Jordan B Peterson's Maps of Meaning The Architecture of Belief is going to be. I am highly excited to get around to Jordan's only other published book, some kind of vast theory of everything which took him 12 years to write. (news.financializer.com). As reported in the news.

conference: Chinese economic espionage against the United States has been increasing and it has been increasing rapidly, according to CNN. We are here today to say, 'enough is enough.' We're not going to take it anymore, said Attorney General Jeff Sessions at a press conference. The Department of Justice unsealed an indictment Thursday alleging a state-backed Chinese firm, a Taiwanese company, and three Taiwanese individuals committed conspiracy to steal trade secrets from Micron, which makes memory chips. It came as US President Donald Trump held his first phone conversation in months with Chinese leader Xi Jinping, amid rising economic and political tensions between the two major powers. Read More Those discussions are moving along nicely with meetings being scheduled at the G20 in Argentina, the US President said on his Twitter, confirming a likely meeting between the two in Buenos Aires in November. The two leaders discussed trade tensions as well as the ongoing efforts to smooth relations with North Korea, in a chat described by Trump as long and very good. (news.financializer.com). As reported in the news.

interest rates: The MSCI All-Country World Index, which tracks stocks in 47 countries, was up 0.3 per cent on the day, according to Nine News Australia. October was the index's worst month since May 2012 - a loss of 7.5 per cent - as shares globally took a battering on a number of factors ranging from trade wars to concerns about the global economy and higher US interest rates. To improve your experience update it here News World World stocks begin the month firmer8 59pm Nov 1, stocks have started the new month on firmer ground after a brutal October, while sterling rallied on reports that Britain and the European Union are close to a post-Brexit deal on financial services. European markets followed a strong start in Asia, with robust company earnings helping the pan-European STOXX 600 index hit a two-week high. This is a significant development for the pound as it alleviates some market concerns on how London would finance its big current deficit, said Ulrich Leuchtmann, a currency strategist at Commerzbank. Britain's FTSE 100 however fell 0.1 per cent as the pound strengthened on a report Britain and the EU are close to a deal that would give financial services firms in the UK continued access to European markets once Brexit happens. (news.financializer.com). As reported in the news.

city: It said the city was better to live in than London on the index, which attempts to assess the quality of life in cities across Britain beyond traditional economic measures such as gross domestic product, according to The Guardian. Preston has experienced a large reduction in its unemployment rate, down to 3.1% last year compared with 6.5% in 2014, while it has also seen improvements above the national average for health, transport, the work-life balance of its residents, and for the skills among both the youth and adult populations. Research carried out by the accountancy firm Pricewaterhouse Coopers and the thinktank Demos, which used a range of measures including employment, workers' pay, house prices, transport, the environment, work-life-balance and inequality to rank 42 UK cities, found that Preston had improved the most in its 2018 Good Growth for Cities index. The city in recent years has gained national attention for the way its Labour-run council has adopted an ultra-localist approach to economic policy. Although this predated the election of Jeremy Corbyn as Labour leader, the lessons from the city have become central to the party's economic thinking. In an attempt to revitalise the local economy following the last recession, it attempted to encourage anchor institutions such as the council, police, colleges and the university to buy the goods and services they need from local businesses wherever possible. (news.financializer.com). As reported in the news.

show hours: Source Bloomberg More From Bloomberg Markets56 24Bloomberg Markets The Close15 hours ago45 52'Bloomberg Markets Balance of Power' Full Show 11/02/2018 17 hours ago02 20Markets Not Surprised by Iran Oil Sanction Waivers, Schork Says20 hours ago01 30Watching Oil as a Guide to the Federal Reserve's Rate Path21 hours ago All episodes and clips Quick Take Explaining the world with Bloomberg News More episodes and clips02 26This Urban Innovation Is Driving People Insane03 03How Women in the Mideast Are Advancing02 53China's Tech Giants Aren't Copycats Anymore02 33Taking From the Rich Might Not Help the Poor 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 03The David Rubenstein Show Michael Milken24 05The David Rubenstein Show Christine Lagarde24 05The David Rubenstein Show Barry Diller48 11The David Rubenstein Show Jeff Bezos See all shows He speaks with David Ingles and Yvonne Man on Bloomberg Markets China Open. (news.financializer.com). As reported in the news.

show markets: More episodes and clips56 24Bloomberg Markets The Close45 52'Bloomberg Markets Balance of Power' Full Show 11/02/2018 02 20Markets Not Surprised by Iran Oil Sanction Waivers, Schork Says01 30Watching Oil as a Guide to the Federal Reserve's Rate Path Quick Take Explaining the world with Bloomberg News More episodes and clips02 26This Urban Innovation Is Driving People Insane03 03How Women in the Mideast Are Advancing02 53China's Tech Giants Aren't Copycats Anymore02 33Taking From the Rich Might Not Help the Poor 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 03The David Rubenstein Show Michael Milken24 05The David Rubenstein Show Christine Lagarde24 05The David Rubenstein Show Barry Diller48 11The David Rubenstein Show Jeff Bezos See all shows Source Bloomberg More From Bloomberg Markets The Close03 32A Long-Term Options Play on Canopy Growth18 hours ago05 05Gender Diverse Financial Teams Get Better Outcomes, Girls Who Invest Founder Says18 hours ago00 25Trump Says He Thinks the U.S. and China Will Reach a Deal on Trade18 hours ago08 00Why GTS Agreed to Buy Cantor's ETF, Retail Stock-Trading Divisions18 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. (news.financializer.com). As reported in the news.

tax changes: Ontario's Minister of Finance Vic Fedeli will table the fall economic statement in mid-November, according to The Toronto Star. The deficit figure is expected to be billions lower than the Tories' 15-billion tally. It will be a mini-budget meaning there are expected to be some tax changes and further spending cuts. Rene Johnston / Toronto Star The days of phoney numbers in Ontario are over, Fedeli told reporters on Thursday. Premier Doug Ford's Progressive Conservatives, who toppled former premier Kathleen Wynne's Liberals in the June 7 election, have been claiming Ontario has a 15-billion deficit. We will present to the people of Ontario for the first time in a long time a true and current state of finances in the province, he said. (news.financializer.com). As reported in the news.

canadian website: The company has also launched a dedicated Canadian website that smooths out duties and currency fluctuations, according to The Toronto Star. Maine-based L.L. Bean retailer is coming off three years of flat sales and a difficult era of belt-tightening. The 106-year-old retailer's iconic boot and other products will be sold in 24 stores in Canada this holiday season, and in L.L. Bean-branded stores opening over the next decade. Shiho Fukada / Bloomberg The deal, inked last week, makes sense because L.L. Bean has a strong customer base in Canada and its cold-weather gear and outdoor focus are a good fit, CEO Steve Smith said. Let's go after that market, and see what we can do, he said. There are huge growth opportunities over time, Smith told The Associated Press in an interview. (news.financializer.com). As reported in the news.

decline: The Nasdaq's gains Wednesday trimmed its monthly decline to 9.2% still the index's worst month since November 2008, according to CNN. The S&P 500 ended the month down 6.8%, its steepest decline since September 2011. The Dow rose 241 points Wednesday, or 1%. The Nasdaq jumped 2%, while the S&P 500 climbed 1%. The solid trading session follows a strong Tuesday in which the Dow soared 432 points. Expect stocks to get back on track following this month's pullback, Brian Belski, chief investment strategist for BMO Capital Markets, said Wednesday on CNN's Markets Now live show. Read More We never like to see people lose money, but we needed to take some complacency out of the market, he said. Belski described the dip as very normal and very healthy. (news.financializer.com). As reported in the news.

gambling capital: And if you're surprised at the speed with which commissioner Gary Bettman has transformed from staunch gambling opponent to business partner with one of the biggest casinos in the gambling capital of the United States, that's reasonable, according to The Toronto Star. Access to new NHL stats will allow MGM to broaden betting options beyond traditional categories such as win-loss and over-under. The NHL agreed to sell data to MGM, which plans to use the information to create a suite of new NHL-focused options for prospective gamblers. Ethan Miller / GETTY IMAGES file photo But it's not unexpected, given the importance sports teams and leagues place on advanced data, and the pressure sports properties face to tap into new revenue streams. A survey commissioned by the American Gaming Association estimated that the four major U.S.-based leagues could bring in a combined 4.2 billion annually in gambling revenue. In May, the U.S. Supreme Court lifted the federal law prohibiting sports betting outside Nevada, enabling individual states to legalize sports betting and setting the stage for new alliances between casinos and major sports operators, with payoffs for both parties. (news.financializer.com). As reported in the news.

houthi-controlled areas: The secretary of state, Mike Pompeo, issued a statement about three hours later, proposing specific terms for a ceasefire, according to The Guardian. The time is now for the cessation of hostilities, including missile and UAV strikes from Houthi-controlled areas into the Kingdom of Saudi Arabia and the United Arab Emirates UAE . Subsequently, coalition air strikes must cease in all populated areas in Yemen, Pompeo said. The US defence secretary, James Mattis, told an audience in Washington that Saudi Arabia and its Emirati allies were ready for a deal and that the talks between the Saudi-led coalition and the Houthi rebels were being arranged by the United Nations special envoy, Martin Griffiths. Khashoggi murder may be tipping point in Yemen's agony Read more Substantive consultations under the UN special envoy must commence this November in a third country to implement confidence-building measures to address the underlying issues of the conflict, the demilitarisation of borders, and the concentration of all large weapons under international observation, the secretary of state added. On Wednesday the Swedish foreign minister, Margot Wallstr m, confirmed that the UN had asked whether the country could provide a venue for talks that it would be happy to act as host. Pompeo did not name the venue for the talks, but Mattis said it would be Sweden. (news.financializer.com). As reported in the news.

october: The S&P 500 fell 6.9 per cent in October, while the Nasdaq shed 9.2 per cent, its biggest monthly loss since November 2008, according to Nine News Australia. The Dow lost 5.1 per cent in the month. To improve your experience update it here News World Wall St ends in the black8 05am Nov 1, 2018Facebook Tweet MailUS stocks have rebounded for a second day as investors snapped up beaten-down technology and internet favourites and strong company results lifted spirits even as the S&P 500 closed out its worst month in seven years. Fears of rising borrowing costs, global trade disputes and a possible slowdown in US corporate profits spooked equity investors this month, with technology and internet names that had powered the market's rally taking the biggest hit. All of the fears that popped up last week are being pushed into the background right now. People are just happy to have the month of October over, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. (news.financializer.com). As reported in the news.

october: The official purchasing managers' index PMI fell to 50.2 in October, the lowest since July 2016 and down from 50.8 in September, according to The Guardian. A figure below 50 represents a contraction. No-deal Brexit would trigger lengthy UK recession, warns S&PRead more China's manufacturing sector barely expanded in October as both domestic and external demand ebbed, according to a closely watched metric released on Wednesday. New export orders, an indicator of future activity, contracted for a fifth straight month and at the fastest pace in at least a year. The moves have included pumping tens of billions of dollars into the financial system and other measures to prop up local shares. The figures suggest a further slowing in the world's second-biggest economy and could prompt more policy support from Beijing on top of a raft of recent initiatives. (news.financializer.com). As reported in the news.