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

bloomberg technology: Source 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 Bloomberg Technology The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco, according to Bloomberg. Hosted by Emily Chang. Allianz Chief Economic Adviser Mohamed El-Erian moderates the debate at the Bloomberg New Economy Forum in Singapore on Nov. 6, 2018. More episodes and clips07 01The Big Tech Policy Issues Facing the New Congress09 37How the Midterm Elections Impact Silicon Valley45 51'Bloomberg Technology' Full Show 11/07/2018 09 29Redfin CEO Sees 'Building Frenzy' for Amazon HQ2 Choices The David Rubenstein Show The David Rubenstein Show Peer-to-Peer Conversations explores successful leadership through the personal and professional choices of the most influential people in business. More episodes and 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 (news.financializer.com). As reported in the news.

week: Scruton was last week appointed by Brokenshire to chair the Building Better, Building Beautifulcommission, an unpaid job on a new body, which aims to promote a design and style of homes that reflect what communities want . The Conservative philosopher is a frequent visitor to Hungary and says he has known its nationalist prime minister, Viktor Orb n, since 1987, according to The Guardian. In 2014, he gave a lecture in the country, which referred to Soros, Judaism and Islam. He called on the communities secretary, James Brokenshire, to dismiss him. Many of the Budapest intelligentsia are Jewish, and form part of the extensive networks around the Soros empire, Scruton wrote in a lecture entitled The Need for Nations, which is reproduced in Hungarian and English on his website. These have accused him of funding a Soros plan to erase national identities and increase migration flows to Europe. The Alf Garnett of architecture' Roger Scruton to chair buildings commission Read more Orb n's ruling Fidesz party has run a number of campaigns against the supposed threat to Hungary and Europe posed by Soros. (news.financializer.com). As reported in the news.

deal: Under the terms of the deal, Iran agreed to limit its nuclear activities and submit to international inspections in return for the lifting of economic sanctions, Donald Trump pulled the US out of the deal earlier this year, breaking with Europe, and on Monday a full panoply of US sanctions came into force, according to The Guardian. The package included the threat to sanction companies or countries that buy Iranian oil, the lifeblood of its economy. The clearing house, known as a special purpose vehicle SPV is seen as critical to reassuring Tehran that the EU genuinely wishes to reward Iran for signing the 2015 deal on its nuclear programme by expanding business with the country. The Iranian deputy foreign minister, Kazem Sajjadpou, speaking in London, expressed his frustration at the pace with which the SPV is being set up, saying What is lacking is both speed and efficiency. The SPV would serve as a barter exchange neither connected to the US dollar-denominated international financial system nor requiring monetary transfers between EU countries and Iran. Tehran had been hoping for an announcement at the weekend on the next steps for the SPV, which was announced in principle two months ago. (news.financializer.com). As reported in the news.

facility: According to United Conservative Party leader Jason Kenney and federal Conservative leader Andrew Scheer, and Ontario Premier Doug Ford they're the reason we can't have a price on carbon, according to The Toronto Star. The Syncrude oil sands extraction facility is reflected in a tailings pond near the city of Fort McMurray, Alberta on June 1, 2014. According to Prime Minister Justin Trudeau and Alberta Premier Rachel Notley, they're the reason we bought a pipeline, and need to twin it and fill it with bitumen in a hurry. Jason Franson / THE CANADIAN PRESS Well, this past week those arguments exploded in a million oily droplets though no one really noticed. The bombshell figure of more than a quarter trillion dollars revealed in dramatic fashion last week is the Alberta Energy Regulator's AER behind-closed-doors estimate of the energy industry's environmental liabilities. That's because the headlines read, Cleaning up Alberta's oilpatch could cost 260 billion instead of cleaning up Alberta's oilpatch could spark a reclamation boom that would create decades of full employment in the province and beyond. (news.financializer.com). As reported in the news.

photo: There are now 136 cannabis-related securities on OTC Markets Group Inc.'s main and venture market, compared with 144 companies on Canadian exchanges, according to The Toronto Star. Susan Montoya Bryan / The Associated Press file photo With marijuana illegal at the federal level in the U.S., the big exchanges like the NYSE and the Nasdaq only allow listings from companies that don't have American operations, including five Canadian producers. That compares with 144 companies on Canadian exchanges. Rules on the New York-based OTC markets are less stringent and allow companies on qualified foreign exchanges to trade without registering with the Securities and Exchange Commission. The exchanges are very risk averse. Fees are also lower. (news.financializer.com). As reported in the news.

finance: Newfoundland and Labrador Finance Minister Tom Osborne speaks with reporters before a meeting with federal, provincial and territorial finance ministers in Ottawa in June, according to The Toronto Star. Newfoundland and Labrador had an unexpected oil price spike to thank for the slight relief in its deficit reported at Tuesday's fiscal update. The province reported a 547-million deficit on Tuesday, compared to the 683-million deficit projected in last spring's budget. PATRICK DOYLE / THE CANADIAN PRESS The difference 136 million is all oil, according to Finance Minister Tom Osborne, citing rising oil prices. While we have not yet turned the corner, it is clearly in sight, Osborne said after unveiling the fall fiscal update. The past three years have been the most economically difficult in the province since the Great Depression, he said, but he was confident his financial plan will get the province back on track. (news.financializer.com). As reported in the news.

market forces: Mr Foley criticised supposed free-market cheerleaders who have pushed for government intervention in AGL's planned 2022 closure of its NSW power station, according to Nine News Australia. People who have argued for the operation of free markets for a very long time are now increasingly arguing for government intervention to distort market forces, Mr Foley told the Centre for Independent Studies in Sydney on Tuesday. To improve your experience update it here News National Foley blames culture war for coal pressure4 33pm Nov 6, pressure to keep the ageing coal fired Liddell power station open is a by-product of the culture war, according to NSW Labor leader Luke Foley, not sound economic management. If a Labor government said that, we would be accused of communism. But Mr Foley pointed out to his conservative opponents they should practice what they preach and observe market forces when making investment decision. The federal government has lobbied AGL to keep open or divest the Hunter Valley plant, arguing it would ensure no gap in power availability before Snowy Hydro 2.0 comes online in 2025.AGL have resisted the push to extend the life of Liddell, choosing rather to replace the capacity lost to the coal powered plant with wind and solar farms. (news.financializer.com). As reported in the news.

perth family: Facebook Tweet Mail West Australian Health Minister Roger Cook says he'll get to the bottom of a 3000 parking fee at Sir Charles Gairdner Hospital, according to Nine News Australia. Gareth Cooks' relatives were slugged more than 3000 in parking fees over a five-month period while the Perth family visited their sister at the Nedlands hospital. To improve your experience update it here News National Family's 3000 parking bill for visiting sick relative By Michael Genovese Reporter9 59pm Nov 6, 2018Gareth Cooks' relatives were slugged more than 3000 in parking fees over a five-month period while the Perth family visited his sister at the Nedlands hospital. Stephanie Cooks suffered complications after a liver transplant. It meant so much to me that my family are so supportive, she said. Stephanie Cooks told 9News she couldn't imagine not having someone by her bed side. 9news The 25-year-old told 9News she couldn't imagine not having someone by her bed side. (news.financializer.com). As reported in the news.

whitehall officials: Whitehall officials will spend the next few days thrashing out the detail of the proposal, under which the UK could leave a temporary customs arrangement with the EU without being forced to accept an border down the Irish sea, according to The Guardian. Brexit relies on the will of the people. The prime minister tasked her Eurosceptic attorney general, Geoffrey Cox, who has emerged as a key figure in winning the support of cabinet Brexiters, with drawing up legal plans for a review mechanism to resolve the Irish backstop issue. What if we don't know what that is Gaby Hinsliff Read more May told her cabinet to stand by their diaries with government sources suggesting that ministers could be summoned for an emergency meeting later this week to sign off the backstop proposal before presenting it to Brussels, possibly later this month. Government insiders believe that the review proposal could meet the demands of febrile Tory backbenchers by removing the Northern Ireland backstop from the withdrawal agreement and replacing it with a UK-wide one. She warned that, while she wanted to strike a deal, this could not be at any cost and would depend on an acceptable framework for a future relationship with the EU, expected to be set out in a separate political declaration. (news.financializer.com). As reported in the news.

georgia democrats: A series of email chains obtained by CNN indicate that, rather than taking part in any alleged hack, the Georgia Democrats had simply passed along information regarding security concerns from a concerned voter to a private cybersecurity firm, which in turn shared its concerns with Kemp's office, according to CNN. Abrams Trump is 'wrong', I am qualified to be Georgia's governor Democrats in the state have vehemently denied the allegations from Kemp's office, which also raised fresh criticism of Kemp's dual role as both the Republican nominee for governor and the state's chief election official. But that initial advisory lacked key details about how Kemp's office was made aware of potential security vulnerabilities in the state's electronic voter information page, which the secretary of state oversees. It's wrong to call it an investigation, Democratic gubernatorial nominee Stacey Abrams told CNN on Monday. Kemp will face off against Abrams on Tuesday in the state's high-profile and close race for governor. It's a witch hunt that was created by someone who is abusing his power. (news.financializer.com). As reported in the news.

indonesia: Sri Mulyani Indrawati said Indonesia had seen huge growth in the services sector since the turn of the century, but education levels were holding the country back, according to Nine News Australia. Indonesia has a workforce of more than 125 million, but 60 per cent have not been educated past early high school. To improve your experience update it here News National Aust education a key to Indonesian economy1 14pm Nov 5, Australian universities into Indonesia could help transform a large but low-educated workforce into one of the world's biggest economies, the nation's finance minister says. Dr Mulyani said there were a lot of hurdles to getting Australian universities into Indonesia, but there was a need to improve education levels. A free-trade deal between Australia and Indonesia is close to being signed, containing provisions allowing Australian universities to operate in the country. It is actually important and it can transform the education sector she told an audience at the Australian National University in Canberra on Monday. (news.financializer.com). As reported in the news.

relationship: Ms Payne will arrive in China on Wednesday for the Australia-China Foreign and Strategic Dialogue, which she hails as an opportunity to enhance the relationship between the two countries, according to Nine News Australia. The Australia government is committed to a constructive relationship with China, founded on shared interests and mutual respect, Ms Payne said in a statement on Monday. To improve your experience update it here News National Foreign Affairs minister to visit Beijing7 41pm Nov 5, Affairs Minister Marise Payne will travel to Beijing for a forum with her Chinese counterpart Wang Yi, amid recent concerns over the superpower's influence on domestic politics and cyber attacks. The dialogue is an opportunity to discuss how we can strengthen co-operation and ensure we continue to advance regional security and prosperity in this period of rapid change. Foreign Affairs officials have also recently been in contact with the Chinese government on behalf of Australians with family members in so-called vocational training camps. A recent report found Chinese military scientists regularly work undercover in Australian universities on high tech weapons and communications research, weeks after the federal government blocked a Chinese telecommunications company from rolling out the nation's 5G network. (news.financializer.com). As reported in the news.

sector: The measures are part of a wider effort by US President Donald Trump to curb Tehran's missile and nuclear programs and diminish the Islamic Republic's influence in the Middle East, notably its support for proxies in Syria, Yemen and Lebanon, according to Nine News Australia. Trump's moves target Iran's main source of revenue - its oil exports - as well as its financial sector, essentially making 50 Iranian banks off limits to foreign banks on pain of losing access to the US financial system. To improve your experience update it here News WorldUS restores sanctions, Iran vows defiance9 49am Nov 6, 2018Facebook Tweet Mail The United States has reimposed sanctions targeting Iran's oil, banking and transportation sectors and threatened more action to stop its outlaw policies, steps the Islamic Republic called economic warfare and vowed to defy. The return of the sanctions was triggered by Trump's May 8 decision to abandon the 2015 Iran nuclear deal, negotiated with five other world powers during Democratic President Barack Obama's administration. The US is betting the economic pressure will force Iran to change its behaviour and agree to a new, much more restrictive deal. That agreement had removed many US and other economic sanctions from Iran in return for Tehran's commitment to curtail its nuclear program. (news.financializer.com). As reported in the news.

wage: On the eve of the 2018 midterms, unemployment is at a nearly 50-year low and there are more jobs than unemployed people to fill them, which bodes well for the party in power, according to CNN. Still, wage growth has been slow, and the rising tide hasn't reached everyone Only 38% of respondents to a Bankrate survey from October said their personal financial situations had improved over the two years Donald Trump has been President. All of them play out against the backdrop of whatever's going on in the economy, and whether voters feel they have more jobs and better wages because of the party in power. Voters typically don't respond to the economy in midterms as much as they do in presidential elections, but Trump has made this election into a referendum on the economic policies he and the Republican Party have implemented, from tax cuts to tariffs. Conditions vary across congressional districts, many of which still have pockets of poverty even a decade into America's recovery from recession, and have industries that variably benefit or suffer from tax cuts, tariffs, and regulatory change. And here's the thing The economy isn't a monolith. (news.financializer.com). As reported in the news.

business confidence: On many measures, the US economy has boomed under Trump, according to The Guardian. Unemployment is at lows unseen since the first moon landing, stock markets remain close to record highs, business confidence is up, trade agreements Trump has slammed as unfair are being rewritten. And as the president faces his first midterm vote, the big test for Trump will be whether voters are sick of winning, or sick of him. On Friday the government's latest jobs report showed wages were rising at their highest rate since 2009. Trump is pushing his hard line on immigration harder than his economic record. If the Republicans come through in Tuesday's vote and outperform expectations despite Trump's unpopularity then no doubt a lot of pundits will be using the campaign quote coined by James Carville, strategist to Bill Clinton, to explain the outcome It's the economy, stupid. (news.financializer.com). As reported in the news.

michie stadium: Army were hosting the game between the two military academies at Michie Stadium and won 17-14, according to The Guardian. Junction Boys syndrome' how college football fatalities became normalized Read more USAFA mascot Aurora was injured over the weekend and is being transported back to Colorado, academy spokesman Lt Col Tracy Bunko told the Gazette. Troy Garnhart, the associate athletic director for communications at the Air Force academy, told the Colorado Springs Gazette that Aurora had been taken from a colonel's house before the annual rivalry game between Air Force and Army on Saturday. We have specialists at the academy who have the best training and facilities for her care. An academy source told the Gazette that Aurora may have to be euthanized due to her advanced age gyrfalcons typically live to around 25 but it was later confirmed she was able to fly and should return to full health. She is part of our academy family and we are all hoping for her full and speedy recovery. (news.financializer.com). As reported in the news.

canada: John McCrae after the Second Battle of Ypres, according to The Toronto Star. Many Canadians understand the First World War as the birth of modern Canada, as the country took more ownership over its own affairs and demanded and was given respect for the price it paid at Vimy, Passchendaele and other battlefields. There will be the red poppies pinned to lapels, and the haunting words of In Flanders Field, penned by Lt.-Col. Adrian Wyld / THE CANADIAN PRESS file photo There will be the National War Memorial, originally built to commemorate the 60,000 Canadians who died during the war, and Remembrance Day itself, which has been recognized every Nov. 11 the day the Great War ended since 1931. That's because while the war ushered in many changes as the country pulled together during those four bloody years in a way it never had before, it also created deep divides and challenges some of which remain today. Yet the enduring impact is felt in countless other ways as well, many of them subtle and not all of them positive, despite the popular refrain that Canada came into its own as a country during the First World War. (news.financializer.com). As reported in the news.

environment: Less than six months from the next election, Mr Frydenberg said the coalition was the only side of politics with business-friendly policies, according to Nine News Australia. It is business that must advocate the importance of a low-taxing, fiscally responsible government which creates the environment in which the economy will thrive, he told The Australian on Monday. To improve your experience update it demands more business support7 42am Nov 5, Josh Frydenberg has called on business leaders to spruik the government's economic policies, as Liberal MPs urge the corporate sector to stop virtue-signalling on social issues. Liberal MP Jason Falinksi said businesses had shown a lack of leadership by paying more attention to social debates than economic arguments. When was the last time we had a business leader come out on tax issues, or regulation issues, or industrial relations issues Business groups hit back at the government, with Australian Industry Group chief executive Innes Willox saying there had been a deep frustration at the coalition's inaction on workplace relations. They say they don't want to get involved in political or policy discourse, but they're happy to get involved in the same-sex marriage debate, Mr Falinski said. (news.financializer.com). As reported in the news.

impacts: Iran has remained defiant, saying it is confident it can weather the impacts, and that the US will fail to bring down Iranian oil imports to zero, according to The Guardian. But ordinary people, wary of the fluctuations of the currency and the rising prices of goods, are anxious. The new sanctions, which also aim to cut off Iran's banking sector from the global market, are timed to coincide with the anniversary of the 1979 storming by Iranian revolutionaries of the US embassy in Tehran, when angry students took 52 American diplomats hostage for 444 days. On Sunday, a state-organised rally took place in front of the former US embassy compound in central Tehran to mark the anniversary. Iran sanctions Khamenei says world opposes every Trump decision Read more Never threaten the Iranian people, Mohammad Ali Jafari, the commander of Iran's elite revolutionary guards told people gathering in front of the former embassy, officially referred to as a den of spies . Do not make military threats against us, and do not frighten us with military threats, he added. The crowd held placards reading Down with USA and Down with Israel while others set US and Israeli flags on fire. (news.financializer.com). As reported in the news.

states: In the latest injection of racial tensions into the campaigns, a wave of automated calls using racist and anti-Semitic language went out to voters in Georgia, where a Democratic candidate is vying to become the first black female governor in the United States, according to Nine News Australia. Control of both houses of the US Congress, currently dominated by Republicans, and 36 governors' offices will be at stake when Americans vote on Tuesday. To improve your experience update it here News World Trump touts economy as US vote nears3 33pm Nov 4, Donald Trump has touted US economic growth and painted a grim picture on immigration in rallies with Republican candidates before Tuesday's elections. Interest has been unusually high for a non-presidential election year, with early voting running well ahead of past cycles. Republicans are favoured to retain control of the Senate, whose powers include confirming Trump's nominations to lifetime seats on the Supreme Court. Opinion polls and nonpartisan forecasters generally show Democrats with a strong chance of taking the 23 additional seats they would need for a majority in the House of Representatives, which they could use to launch investigations into Trump's administration and block his legislative agenda. (news.financializer.com). As reported in the news.

saturday: But a spokesman confirmed on Saturday afternoon that the issue had been resolved, according to The Guardian. We sincerely apologise to customers for the impact it had through yesterday and overnight, he said. On Saturday morning, the telco had advised people carry cash instead of relying on tap-and-go, as the outage dragged on into its second day. On Friday, people began complaining that they were unable to pay for taxis at the end of a trip or withdraw money from ATMs. A Telstra spokesman blamed the outage on faulty vendor equipment . Our team worked through the night on the fix and we are seeing the machine-to-machine traffic returning to normal, he said. As people stepped out for their Saturday morning brunch, business owners had expressed frustration that they remained unable to charge customers using Eftpos. (news.financializer.com). As reported in the news.

balance sheet: Most of the gains came from its massive investment portfolio, though the value of its holdings are down slightly, according to CNN. The company also saw a huge increase of cash on its balance sheet. Berkshire Hathaway BRKB Warren Buffett's industrial and insurance conglomerate, said its net income jumped to 18.5 billion from 4.1 billion a year ago. Available cash soared to 36.5 billion at the end of September from 25.5 billion at the start of the year. The last time Berkshire bought its own stock was in December 2012. Berkshire also reported a rare stock buyback of 928 million after the board in July removed strict limits that essentially prohibited share repurchases. (news.financializer.com). As reported in the news.

police dog: The screaming in the dinner hall, children climbing on tables to escape, according to The Guardian. Outside, a teenage girl in handcuffs, face-down on a police car; the man in a tracksuit being mauled by a police dog. The drama, inevitably, was caught on camera. A pupil had texted false talk of a knife fight, and parents had been trying to scale the fence to reach the school. As the local MP, she could see that the fight had the potential to reignite long-running tensions in Page Hall especially if, as chatter at the school gate suggested, the fight had begun when a Roma girl pulled off the headscarf of a Muslim classmate. Eighty miles away in Liverpool, Gill Furniss made plans to leave the Labour party conference, missing Jeremy Corbyn's speech. (news.financializer.com). As reported in the news.

telstra spokesman: The outage, which began on Friday, affected a range of businesses on Saturday morning, including a number of taxi companies, a Telstra spokesman said, according to Nine News Australia. Our team worked through the night on the fix and we are seeing the machine-to-machine traffic returning to normal, the spokesman said in a statement just after 12.30pm on Saturday. To improve your experience update it here News National Telstra fixes Eftpos machine outage1 40pm Nov 3, 2018Facebook Tweet MailA nationwide Telstra outage has been resolved after it affected Eftpos machines and ATMs. All devices should now be capable of connecting. We sincerely apologise to customers for the impact it had through yesterday and overnight, the spokesman said. During the outage people had been advised to carry cash instead of relying on tap-and-go payments. (news.financializer.com). As reported in the news.

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.