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

cash-in-transit guards: Footage shows the robbery in April in Sydney's south-west, where two armed cash-in-transit guards were intercepted by the Golf as they exited their vehicle in Clemton Park, according to Nine News Australia. An armed man, with his face covered, is depicted getting out of the passenger side and approaching the security guards, before taking cash bags and fleeing the scene in the car. To improve your experience update it here News National Footage released of armed robbery of cash-in-transit guards in Sydney By Stuart Marsh6 54pm Nov 14, 2018Facebook Tweet Mail Men with rifles burst out of a Volkswagen Golf and threaten guards of an armoured truck in new video released by Sydney police. Two armed cash-in-transit guards were intercepted by a Volkswagen Golf. Following the hold-up detectives established Strike Force Callagher to hunt down the two armed robbers. NSW Police The robbery took place in Clemton Park in April. 9News Neither of the armed guards were harmed during the incident. (news.financializer.com). As reported in the news.

currencies: A system regulated by central banks could become the basis for a rapid expansion of financial services to developing world countries and the poorest people in western societies without the risks associated with privately managed digital currencies, she said, according to The Guardian. Time to regulate bitcoin, says Treasury committee report Read more The IMF's proposal is likely to be greeted warily by many digital currency operators who believe one of the main attractions of their technology is that it lies outside the mainstream banking system. Lagarde said central banks had to work quickly to establish digital cash for burgeoning networks of private financial transactions or risk their mushrooming into trading networks that were inherently unstable. The involvement of a central bank could also be seen as imposing heavy-handed regulation that would slow down transactions and raise costs. The Bank of England, which is watching developments in digital currencies closely, already runs the systems that process stock exchange and banking transactions, and oversees the cash and coins that a digital currency is expected to replace. However, businesses wishing to use the underlying blockchain technology to process transactions are likely to welcome the IMF's endorsement and the involvement of central banks in preserving the integrity of new financial systems. (news.financializer.com). As reported in the news.

downsview facility: Concerns are growing over Bombardier's cash-flow prospects, according to The Toronto Star. Ryan Remiorz / THE CANADIAN PRESS Canada's largest aerospace company surprised investors Nov. 8 by saying it would need to tap proceeds from the sale of its Downsview facility in Toronto to meet a goal of breaking even on a cash-flow basis this year, plus or minus 150 million. The market swoon underscored investor anxiety about Bombardier's prospects despite chief executive officer Alain Bellemare's upbeat 2020 outlook at an investor conference Tuesday his first public comments since the company lost a quarter of its market value after reporting earnings last week. Next year's goal of break-even cash flow, plus or minus 250 million, fell short of analyst estimates. They have a fair bit of debt so anything that negatively affects cash flow would be a drag. A lot of people are still scratching their heads about the cash-flow forecast, David Tyerman, a Cormark Securities analyst, said by telephone from Toronto. (news.financializer.com). As reported in the news.

energy security: Today the relationship is a friendly one, with Darwin a key part of Japan's energy security through the recently completed US40 billion A55 billion LNG project operated by Japan's Inpex, according to Nine News Australia. World War II will be a key part of the visit, with Mr Abe to to lay a wreath at the city's cenotaph with Australian PM Scott Morrison and inspect a memorial of the 80-crew Japanese submarine I-124, which was sunk off Darwin in January 1942 and remains there. To improve your experience update it here News National Japanese leader makes history in Darwin6 49pm Nov 15, 2018Facebook Tweet Mail It has taken nearly 77 years but on Friday Shinzo Abe will become the first Japanese Prime Minister to visit Darwin since it was bombed, costing hundreds of lives. The bombings are strongly commemorated and remembered in Darwin through museum displays and historical sites. Prime Minister Abe's visit is deeply symbolic and significant and it will build on our two countries' strong and enduring friendship as well as our economic, security, community and historical ties, he said. The visit would also recognise the importance of the reconciliation that followed between our countries Mr Morrison said. (news.financializer.com). As reported in the news.

goodney: Democrat Bill Pascrell has called for tweaks to Canada's new trade pact with the United States and Mexico, according to The Toronto Star. Christopher Goodney / Bloomberg file photo But that will not be the least of the hurdles facing the deal the formal signatures matter less than legislative ratification. The agreement is expected to be signed Nov. 30 when leaders from all three countries gather for two days of G20 meetings in Buenos Aires, but it won't be a high-profile, high-level affair if they remain locked in their standoff over U.S. President Donald Trump's steel and aluminum tariffs. And Democrats, who will take a majority of the seats in the House of Representatives in January, are hinting at a go-slow approach. Bill Pascrell, the presumptive head of the influential Ways and Means trade subcommittee, became the latest Wednesday, telling Bloomberg that Democrats will want better enforcement mechanisms for USMCA's labour and environmental clauses before signing off on Trump's showcase trade deal. New Jersey Rep. (news.financializer.com). As reported in the news.

growth: Germany's first period of falling output since the first three months of 2015, and its worst performance since early 2013, helped drag eurozone growth from 0.6% to 0.2% in the three months ending in September, highlighting the vulnerability of the eurozone to a disorderly Brexit, according to The Guardian. The contraction followed growth of of 0.5% in the second quarter, and financial markets expect a bounce-back in Germany in the final three months of 2018 as bottlenecks in car plants during the summer come to an end. Tough emission tests affecting the country's strategically important automotive industry, lower consumer spending, and weaker exports triggered by rising global protectionism resulted in the economy shrinking by 0.2% in the third quarter of 2018. The consultancy firm Oxford Economics said the 8% fall in car production in the third quarter rippled through the motor industry's supply chains and cut growth by 0.5 percentage points in the third quarter. It added that there were mixed signals for domestic demand, with German households spending less but firms investing more in machinery, equipment and construction. Germany has posted average quarterly growth of 0.5% in recent years, and had that trend continued, eurozone GDP in the third quarter would have been 0.4% rather than 0.2%. Destatis, Germany's statistics office, said the country's foreign trade position had deteriorated, with exports falling and imports rising. (news.financializer.com). As reported in the news.

humiliation: Paraplegic athlete Darren Belling helped win Australia's first medal in the event, but his flights to and from Finland were marred with humiliation, according to Nine News Australia. Mr Belling told 9News he was forced to urinate in a bottle on the flight from Brisbane to Helsinki via Dubai, as he was unable to access the toilets due to budget airline 'flydubai' not having an on-board wheelchair. To improve your experience update it athlete 'forced to urinate in bottle' aboard flight to World Championships By Natalie Wynne Reporter and Producer6 00pm Nov 14, 2018Facebook Tweet Mail An Australian athlete says he was forced to urinate in a bottle because he couldn't access the bathroom on a horror flight to the Para-ice hockey World Championships. Paraplegic athlete Darren Belling. 9NEWS He brought the bottle over and then said 'you need to buy a blanket', Mr Belling said. Upon landing back in Brisbane on an Emirates flight, what should have been a celebration quickly turned into further humiliation and inconvenience. I said to him, 'hang on it's not my problem and it's not my fault that I can't get access to the toilet' but they still wanted me to hand over a handful of euro for the blanket. (news.financializer.com). As reported in the news.

san rafael: Territory owned by Tahoe Resources' El Escobal, or San Rafael, silver mine in San Rafael Las Flores, Guatemala, according to The Toronto Star. James Rodriguez / MiMundo.or Tahoe shareholders will also receive contingent value rights that will be exchanged for 0.0497 Pan American shares for each Tahoe share, payable on the first commercial shipment of concentrate following the restart of operations at the Escobal mine in Guatemala. The maximum cash available under the offer is 275 million and there are 56 million Pan American shares available. Tahoe shares closed C 2.90 on the Toronto Stock Exchange on Tuesday, while Pan American shares closed at C 18.71. Article Continued Below Tahoe shareholders will hold about a 27 per cent stake in the combined company at the closing of the deal. The deal, which is expected to close in the first quarter of 2019, requires approval by both the Tahoe and Pan American shareholders. (news.financializer.com). As reported in the news.

outlook: In a report on the outlook for the British economy, the IMF also backed up the chancellor's claim that the failure of MPs to agree a deal would bring forward much of the financial pain of leaving the EU. IMF officials said they had not worked out the direct impact of Brexit in their most recent analysis, but it was clear that a hard Brexit without a deal would harm the UK economy, according to The Guardian. A disruptive departure without an implementation period could have serious negative economic consequences, it said in its annual health check. The Washington-based organisation said there would be a jump in consumer spending and business investment following a deal that secured frictionless trade with the European Union, lifting the UK's growth rate beyond the 1.5% it expects for 2019. While all likely Brexit outcomes will entail costs for the UK economy by departing from the frictionless single market that now prevails, an agreement that minimises the introduction of new tariff and non-tariff barriers would best protect growth and incomes in the UK and EU. Sign up to the daily Business Today email or follow Guardian Business on Twitter at Business Desk Close cooperation and coordination with the EU to prevent disruptions and mitigate risks will be important to achieve a smooth transition, it said. Topics International Monetary Fund Hammond Share on Facebook Share on Twitter Share via Email Share on Linked InShare on Pinterest Share on Google Share on Whats AppShare on Messenger Reuse this content In his budget last month, Hammond said the economy would get a double boost from a Chequers-style deal that almost replicated the current trade arrangements for goods across the EU. He said the outlook for growth would improve, generating higher business profits and wages that in turn would boost tax receipts, giving the government greater leeway to increase public spending and cut taxes. (news.financializer.com). As reported in the news.

sales: Yet the spike in losses came as Uber's sales remained largely flat for the period, according to CNN. The ride-hailing company posted sales of 2.95 billion for the quarter, up about 5% from the prior quarter and an increase of more than a third from the same period a year earlier. Uber said Wednesday that it lost 1.07 billion in the three months ending in September, up from an 891 million loss in the quarter prior, as the company invests in newer services ranging from food deliveries to scooters, according to a copy of the financials provided to CNN Business. The latest results highlight the challenge Uber faces in trying to simultaneously manage its sizable losses while showing the kind of rapid sales growth that investors look for from a newly public technology company. Wall Street expectations may be particularly high for Uber. Uber has repeatedly said it expects to go public in 2019. (news.financializer.com). As reported in the news.

secretary tsang: Source Bloomberg More From Bloomberg Markets08 12Hugo Boss CEO on Customer Trends, Product Demand, China, Business Strategy5 hours ago05 56Impact of Brexit on Global Markets Has Been Muted, Says MSCI CEO5 hours ago10 43Hong Kong Fmr, according to Bloomberg. Financial Secretary Tsang on Economy, Policies, Currency Peg9 hours ago04 12U.S., China Trade Spat Is 'War of Words,' Ideanomics CEO McGonegal Says10 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. He speaks with Yvonne Man and Rishaad Salamat on Bloomberg Markets China Open. More episodes and clips24 06The David Rubenstein Show Alan Greenspan24 03The David Rubenstein Show Michael Milken24 05The David Rubenstein Show Christine Lagarde24 05The David Rubenstein Show Barry Diller See all shows (news.financializer.com). As reported in the news.

tuesday: The victors, New York and Virginia, delivered, according to CNN. The final deals revealed on Tuesday showed they provided total incentives worth about 2.8 billion total extraordinarily generous offers to a company whose profits in 2017 totaled 3 billion on 178 billion in revenues, and whose founder Jeff Bezos is the wealthiest man in the world. Incentives offered by the state/province and local communities to offset initial capital outlay and ongoing operational costs will be significant factors in the decision-making process, the initial request read. That number only reflects the value of subsidies if Amazon hires the expected 25,000 employees in each location. Amazon's requested perks include not just money, but a helipad at its planned new locations in Long Island City and National Landing a tall order, given that Crystal City currently falls within a flight restricted zone where the only allowed flights are those that go through the airport or have to do with law enforcement and the military. If the company were to add 40,000 employees, and also win additional New York City tax breaks afforded to all companies that meet certain qualifications, the total amount of subsidies could go as high as about 5.5 billion. (news.financializer.com). As reported in the news.

cent plunge: The Nasdaq ended the session essentially flat as a rebound in tech kept the index out of negative territory, according to Nine News Australia. Energy stocks weighed heaviest on the S&P 500, driven lower by a 7.1 per cent plunge in crude prices, their biggest per centage drop in 2-1/2 years. To improve your experience update it here News World Crude plunge punishes energy stocks8 54am Nov 14, 2018Facebook Tweet Mail The Dow and S&P 500 have ended slightly lower following losses in energy shares and Boeing, offsetting a small gain in technology stocks and renewed hopes for progress in trade talks. The energy sector closed down 2.4 per cent. The stock ended the session down 2.1 per cent, providing the biggest drag on the Dow. Boeing Co reported a 37 per cent increase in 737 deliveries in October, but shares fell on concerns related to last month's deadly crash of a 737 operated by Indonesia's Lion Air. (news.financializer.com). As reported in the news.

affair: The decision is exceedingly odd, according to The Guardian. Back in July, it was supposedly crucial that Premier kept Darby. It was a bitterly fought affair but he survived in post with a 59 41 majority, thereby defeating Hong Kong-based hedge fund Oasis Management, the outfit that had accused him of leading a zombie company . Now less than four months later Darby says he will leave in January anyway. The company rolled out two famous retailing lords, Ian Mac Laurin and Mark Price, to applaud his talents. So why does a board that defended its chief executive to the hilt now seemingly not mind if he goes Details were left vague. If these activist investors succeed in removing him they risk destroying significant value, rather than creating it, declared Price, the former Waitrose chief. (news.financializer.com). As reported in the news.

bloomberg: Source Bloomberg More From Bloomberg Surveillance03 34DUP MP Campbell Sees Many in Parliament Voting Against Brexit Deal2 hours ago02 54May Urges Lawmakers to Back Deal or Risk No Brexit at All'3 hours ago01 47May Defends Brexit Deal Amid Jeers in Parliament3 hours ago03 56Finsbury's Roland Rudd Calls for People's Vote on Brexit3 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 clips06 07German Economy Shrinks for First Time Since 201507 46We Have Given Away too Much, Says U.K. Conservative Lawmaker Kawczynski01 03Brexit Secretary Dominic Raab Resigns From U.K. Government03 06May Faces Backlash Over Deal 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. Serra speaks on Bloomberg Surveillance. More episodes and clips24 06The David Rubenstein Show Alan Greenspan24 03The David Rubenstein Show Michael Milken24 05The David Rubenstein Show Christine Lagarde24 05The David Rubenstein Show Barry Diller See all shows (news.financializer.com). As reported in the news.

engine room: Treasurer Josh Frydenberg says small and medium-sized businesses are the engine room of the Australian economy but find it tough to access finance and, at times, forced to put up their own property as surety, according to Nine News Australia. The funds would be available to small banks and lenders to ensure businesses are firing on all cylinders . Treasurer Josh Frydenberg has unveiled a 2 billion fund to help small businesses. To improve your experience update it Josh Frydenberg unveils 2 billion election sweetener for small businesses By Lane Calcutt Political Reporter11 15am Nov 14, 2018Facebook Tweet Mail The Morrison government will make another pitch to small business ahead of next year's election, with a 2 billion fund to make it easier and cheaper to raise credit. AAP Small business employs three million Australians, half the private enterprise workforce. The new fund will buy bonds, packed with small and medium-sized business loans, sold to investors by regional and non-bank lenders. The government has already reached out to the sector, fast tracking tax cuts and slashing red tape, after the prime minister made it a priority when he took over from Malcolm Turnbull. (news.financializer.com). As reported in the news.

government action: A Syncrude facility in the Athabasca oil sands in Canada, according to The Toronto Star. Ben Nelms / Bloomberg News Capital Group's energy investments are increasingly shifting to other jurisdictions and that is likely to continue without strong government action, Peers wrote in a letter dated Oct. 19. In a letter to the prime minister, Darren Peers, an analyst and investor at Los Angeles-based Capital Group Cos., warns investors and companies will continue to avoid the Canadian energy sector unless more is done to improve market access. I hope that your government will be even more proactive in securing market access which will assure the competitiveness of Canadian energy companies. The firm holds more than 30 billion of investments in Canadian companies, and is the largest shareholder of Suncor Energy Inc., Enbridge Inc., Canadian Natural Resources Ltd., and Keyera Corp. Capital Group, which runs about 1.7 trillion in global assets, has a lot at stake in Canada's oilpatch. (news.financializer.com). As reported in the news.

dow: The Dow fell for the third straight session Tuesday, closing more than 100 points lower, according to CNN. Stocks were relatively flat compared to Monday, when the Dow fell more than 600 points, dragged down by investors' concerns about the tech sector and the rising dollar. Then the market turned south again. Apple AAPL fell a little less than 1% Tuesday and 5% Monday after suppliers cut their earnings and sales forecasts because of weak demand. That weighed on other technology stocks. JPMorgan cut its target price on Apple's stock and Goldman Sachs slashed its iPhone sales forecast. (news.financializer.com). As reported in the news.

home depot: Home Depot fell as much as 3.6 per cent to 173.01 U.S. after an initial jump in pre-market trading that followed the release of third-quarter results, according to The Toronto Star. Despite slowing home sales in some parts of the country, company executives said Home Depot hasn't seen a corresponding slowdown in any of its regions. But the retailer's shares dropped amid lower hurricane spending and signs that the U.S. housing market is cooling. They also said it was a tough comparison with last year, when destructive hurricanes in Florida and Texas helped generate about 380 million in extra sales. And the company expects prices to keep rising through next year. Home Depot cares most about home prices increasing because that convinces people to see their properties as an appreciating asset worthy of investment. (news.financializer.com). As reported in the news.

p tsx: Gains in the financial, industrial and materials sectors outweighed losses in the energy sector as the price of oil fell, according to The Toronto Star. JONATHAN HAYWARD / THE CANADIAN PRESS In New York, the Dow Jones industrial average lost 100.69 points to 25,286.49. The S&P/TSX composite index closed down 24.62 points to 15,131.78. The S&P 500 index was down 4.04 points at 2,722.18, while the Nasdaq composite was essentially flat at 7,200.88. Report an error Journalistic Standards About Us TOP STORIES, DELIVERED TO YOUR INBOX.NEW NEWSLETTERHEADLINESSIGN UP The Canadian dollar traded at an average of 75.52 cents US. The December crude contract was down US 4.24 at US 55.69 per barrel and the December natural gas contract was up 31.3 cents at US 4.10 per mmBTU. Article Continued Below The December gold contract was down US 2.10 to US 1,201.40 an ounce and the December copper contract was up 1.05 cents at US 2.69 a pound. (news.financializer.com). As reported in the news.

stock market: President Donald Trump blamed his defeat in the midterms for the fall, claiming fears of Harassment by the Dems was causing big headaches! Donald J. prospect of Presidential Harassment by the Dems is causing the Stock Market big headaches!November 12, 2018 Shares in Asia Pacific followed suit on Tuesday morning with the Nikkei diving 2.2% in Tokyo and the market in Seoul down 0.84%. Shares in Hong Kong were also down 1.5% in early trade and Shanghai was off 0.5% before both recovered, according to The Guardian. Australia's beleaguered banks led the benchmark ASX200 down by 1.7%. The Australian dollar also took a hammering as the greenback climbed to its highest level against a basket of currencies since June 2017. With Monday's losses, all three major Wall Street bourses erased the gains from their brief rally after the US congressional elections on 6 November. Populists like Trump exacerbate rather than cure corruption Barry Eichengreen Read more Asian stocks excluding Japan have fallen nearly 17% this year, after a 33.5% gain in 2017, with October 2018 the worst month since mid-2015. The falls on Wall Street appeared to be sparked more by fears that the historic rise in tech companies such as Apple was coming to an end. A fair number of factors are weighing on the market currently, such as seeming weakness in some US tech giants and lingering worries about the Chinese economy, said Yoshinori Shigemi, global market strategist at JP Morgan Asset Management in Tokyo. (news.financializer.com). As reported in the news.

trade pact: Trade Minister Simon Birmingham has travelled to Singapore for talks on a 16-country agreement known as the Regional Comprehensive Economic Partnership, according to Nine News Australia. The trade pact includes the 10 member states of the Association of Southeast Asian Nations as well as Australia, China, India, Japan, New Zealand and South Korea. To improve your experience update it here News National Slow progress on 16-nation trade deal5 51pm Nov 13, remains locked in negotiations to create the largest trading bloc in the world, but does not expect to finalise a deal until at least late next year. If the deal comes to fruition, it will include half the world's population and one-third of its GDP. Ten of Australia's 15 largest trading partners are included in the agreement. But after trade ministers met late into Monday night, it was clear their hopes were dashed. Some countries wanted to conclude negotiations this week, on the sidelines of the ASEAN summit. (news.financializer.com). As reported in the news.

bench marks: The technology-heavy index was down 2.8 per cent, according to The Toronto Star. The S&P 500 fell 2 per cent, and the Dow Jones industrial average dropped 2.3 per cent. The Nasdaq composite was one of the hardest-hit among the major bench marks. Apple's shares declined 5 per cent after one of its suppliers, Lumentum, slashed its fiscal outlook for the current quarter and said it had received a request from one of its largest customers to reduce shipments. Apple's shares declined 5 per cent after one of its suppliers, Lumentum, slashed its fiscal outlook for the current quarter and said it had received a request from one of its largest customers to reduce shipments. JOSH EDELSON / AFP/GETTY IMAGES The S&P/TSX composite index closed down 118.04 points to 15,156.40 after hitting a high of 15,263.74. (news.financializer.com). As reported in the news.

finance: In September, for the 14th month in a row, the total value of housing finance commitments fell in trend terms, according to The Guardian. That is still some way behind the 20 consecutive falls that occurred after the end of the first home-buyer boost in response to the GFC. But given unemployment has been falling during this time and the overall economy is growing solidly, it is a rather unprecedented length of time for people to be withdrawing from the housing market. But for those hoping for improved affordability, the news is less good as average home loans remain at near record levels. Sydney house prices see biggest fall for 30 years, dragging rest of Australia down Read more There does seem to be somewhat of a slowing of the fall especially by investors but in annual terms the fall continues to grow. Over the past five years, there has only been six months where there was an increase in the number of home loans taken out in Western Australia. It's now down 12.8% compared with September last year the biggest annual fall since August 2010, and the 8% fall for owner-occupier finance commitments is the biggest since January 2011 And given the link between housing finance and house prices, this continuing fall suggests no improvement in housing prices until well into next year While around 70% of the fall from the recent peak of housing finance in July 2017 is due to investors leaving the market, it is clear that owner-occupiers have followed both in terms of number of commitments and the value of the finance that is being sought And while it is easy to suggest this is just a Sydney and Melbourne phenomenon, the reality is the number of people taking out home loan mortgages has been falling or staying flat pretty much in every state and territory over the past year Western Australia has been the state that has suffered the biggest falls, even if the number of home loans taken out has risen for the past two months. (news.financializer.com). As reported in the news.

government: While the legislation is unlikely to be debated in the House of Representatives, where the government controls the agenda, the move could become reality if Labor wins the next election, according to Nine News Australia. Labor senator Jenny McAllister, who was behind the private bill, said the government had no plan to tackle income stagnation and rising inequality. To improve your experience update it here News National Labor pushing for more inequality research11 40am Nov 12, 2018Facebook Tweet Mail The Productivity Commission would have its research scope expanded to include inequality's effects on Australia's economy under draft laws which have passed the Senate. We need to change our institutional arrangements so that now and forever these issues cannot be ignored, Senator McAllister told parliament on Monday. It would also establish a framework to regularly report on economic inequality. Under the plan, policy guidelines for the commission's functions would require consideration of inequality. (news.financializer.com). As reported in the news.

hamas militants: In Israel, the national rescue service said at least 20 people were wounded, including a 19-year-old soldier and a 60-year-old woman who were in critical condition, according to The Toronto Star. Palestinian mourners carry the bodies of two of the seven Hamas militants who were killed in an Israeli raid late Sunday, during their funerals in Khan Younis, southern Gaza Strip, Monday. Palestinian officials said at least three people, including two militants, were killed by Israeli fire and nine were wounded, and an Israeli airstrike destroyed the ruling Hamas group's TV station. Adel Hana / The Associated Press The fighting cast doubt over recent understandings brokered by Egypt and UN officials to reduce tensions. The United Nations said it was working with Egypt to broker a halt in the violence. Just a day earlier, Israel's prime minister defended those understandings, saying he was doing everything possible to avoid another war. (news.financializer.com). As reported in the news.