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

trade war: Chinese markets had extended their slump in Asia amid the trade war with the United States, and with Wall Street closed later for Thanksgiving and trading therefore lighter than normal, Europe followed suit, according to Nine News Australia. The region also had plenty to keep it busy. To improve your experience update it here News World Failed tech reboot hits European stocks8 55am Nov 23, share markets has fallen back into the red, as investor worries about slowing global growth in the face of rising US interest rates and trade tensions outweighed crucial Brexit progress. A disappointing batch of company earnings added to the stocks gloom but Italian bonds rallied for a second day as sparring continued over its budget and sterling jumped as London and Brussels agreed wording on a Brexit transition deal. I think that the recent moves in equities have largely been about big tech catching up with the rest of the market, said Eoin Murray, the head of investment at Hermes Investment Management. The dollar also edged lower for a second day as traders sold the greenback going into Thanksgiving and after Wall Street had seen Apple shares, which have slumped 280 billion in recent weeks, fail with an attempted rebound. (news.financializer.com). As reported in the news.

quarter-point move: It's one of the basic rules of investing, according to The Toronto Star. But how is that playing out in today's investment climate You may be surprised. When that happens, bond prices drop. The Bank of Canada has raised interest rates three times this year, with another quarter-point move possible in December. Some exchange-traded fund providers think investors will turn back to fixed income products if stocks continue to slide. You would normally expect that such aggressive action would significantly knock down bond prices. (news.financializer.com). As reported in the news.

source bloomberg: Source Bloomberg More From Bloomberg Markets46 00'Bloomberg Markets Balance of Power' Full Show Markets The Close' Full Show 11/23/2018 01 32Oil Declines to Lowest Price in More Than a Year01 51Brent Dips Below 60 for First Time Since October 2017All 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 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 He speaks on Bloomberg Markets. (news.financializer.com). As reported in the news.

tit-for-tat nature: The overnight Wall Street Journal report that the U.S. is urging allies to avoid Huawei equipment initially took the market down, though it's unclear whether any blowback on U.S. tech stocks will occur given the tit-for-tat nature we've become accustomed to in Sino-U.S. relations, according to The Toronto Star. Given it's a private company, details are scant as to any supplier impact, but watch Jabil, Flex Ltd., Broadcom and Qualcomm given their exposure to Huawei competitors like Ericsson and Cisco. But with S&P futures looking lower this morning there may be a few doorbusters available in the market as well, including stocks of the retailers themselves. Optical stocks like Ciena, Infinera, Oclaro and Lumentum may also be impacted. Drew Angerer / Getty Images That tension will contrast with other indications that U.S. President Donald Trump and Chinese leader Xi Jinping are ready for their meeting at the G20. A trader on the floor of the New York Stock Exchange on Tuesday, as sliding stocks eliminated yearly gains for the S&P 500 and Dow Jones Industrial Average. (news.financializer.com). As reported in the news.

u.s: Idaho ratepayers are awaiting the final word from the state's public utilities commission on the proposed 5.3-billion U.S. deal that would see Hydro One take over Avista Corp, according to The Toronto Star. Andrew Francis Wallace / Toronto Star File photo It seems there was once a pig and a chicken and they were chatting about the idea of contributing to a breakfast for a kindly farmer and the chicken offered eggs, of course, and thence pressured the pig to provide bacon. And I have no idea what he's talking about. Have I got that right Anyway, the punchline rests with the pig For you it's a contribution. Perhaps it's more a fable. For me it's a commitment. (news.financializer.com). As reported in the news.

cents: The TSX ticker is shown in Toronto on May 10, 2013, according to The Toronto Star. Frank Gunn / THE CANADIAN PRESS The January crude contract was down 78 cents US in international trading at US 53.85 per barrel and the December natural gas contract was down 21.6 cents at US 4.23 per mmBTU. The decrease in the price of West Texas Intermediate followed a report by Saudi Arabia suggesting production had hit record levels, says Candice Bangsund, portfolio manager for Fiera Capital. The S&P/TSX composite lost 3.44 points to 15,091.58 with just 83.3 million shares traded. So that's obviously weighing on crude prices this afternoon and further reinforcing that market concern about the re-emergence of a supply glut in the crude market, in addition to yesterday's weekly rise in crude inventories, she said. A clearer picture about where prices will settle for the rest of the year will emerge when OPEC meets Dec. 6 to decide on production levels. Article Continued Below Oil's been having a pretty tough time, though we saw a little bit of a recovery a couple of days ago. (news.financializer.com). As reported in the news.

bloomberg: Source Bloomberg More From Bloomberg Markets46 00'Bloomberg Markets Balance of Power' Full Show 11/23/2018 18 hours ago22 23'Bloomberg Markets The Close' Full Show 11/23/2018 19 hours ago01 32Oil Declines to Lowest Price in More Than a Year22 hours ago03 47What Oil, Gold, Bitcoin Signal for ETF Investors22 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 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 He speaks on Bloomberg Markets Asia. (news.financializer.com). As reported in the news.

firm: The financial authorities, who once embraced the trend, are asking banks to keep peddling notes and coins until the government can figure out what going cash-free means for young and old consumers, according to The Toronto Star. The central bank, which predicts cash may fade from Sweden, is testing a digital currency an e-krona to keep firm control of the money supply. But cash is being squeezed out so quickly with half the nation's retailers predicting they will stop accepting bills before 2025 that the government is recalculating the societal costs of a cash-free future. Lawmakers are exploring the fate of online payments and bank accounts if an electrical grid fails or servers are thwarted by power failures, hackers or even war. The decision was made after they realized that fewer than 1 percent of shoppers used cash. An Ikea where managers temporarily decided to go cashless, in Gavle, Sweden. (news.financializer.com). As reported in the news.

nath kovind: Ram Nath Kovind, the first Indian president to visit Australia while in office, said while Australian companies had a presence in India, the world's second most populous nation offered enormous opportunity, according to Nine News Australia. Australia's trade with India in 2017 was just 111 million more than trade with New Zealand, he said. To improve your experience update it here News National India uses cricket to inspire Aust trade7 56pm Nov 22, president has told Prime Minister Scott Morrison and business leaders to take inspiration from Australia's cricketers and up their trade game. Mr Kovind urged Australian businesspeople to use cricket as a metaphor for business. Please come to India, the pitch is ready. The most successful Australian batsmen in India have been those who have shown patience, read the conditions carefully, settled down for a long innings, nurtured their partnerships and not fallen for spin, he told Mr Morrison and business leaders in Sydney. (news.financializer.com). As reported in the news.

negotiation: Thursday's news sent the pound nearly 1 per cent higher on relief among investors that 18 months of tense and tortuous negotiation were bearing fruit, keeping Britain close to its biggest market and ensuring nothing much will change during a transition period due to last until at least the end of 2020, according to Nine News Australia. The British people want Brexit to be settled. To improve your experience update it here News WorldEU, UK hammer out post-Brexit ties By AAP9 49am Nov 23, and the European Union have agreed a draft text setting out a close post-Brexit relationship, though wrangling with Spain over control of Gibraltar must still be settled before EU leaders meet on Sunday to rubber-stamp the pact. They want a good deal that sets us on a course for a brighter future, British Prime Minister Theresa May told parliament. In these crucial 72 hours ahead, I will do everything possible to deliver it for the British people. The deal that will enable us to do this is now within our grasp. (news.financializer.com). As reported in the news.

shareholders: The guidelines include provisions to prevent firms from inflating bosses' salaries by giving outsized pension contributions, and requiring that firms strengthen their ability to claw back performance-related pay, according to The Guardian. The rules are not legally enforceable by investors against companies or executives, but they are used by large shareholders as a guide when they vote, including on pay, at company meetings. The Investment Association IA which represents fund managers who control 7.7tn in investments, has published new rules to push large listed companies to clamp down on excessive executive pay. Andrew Ninian, the IA's director of stewardship and corporate governance, said Companies need to demonstrate more robustly the link between pay and company performance. Surging executive pay has sparked calls for caps on the ratio of chief executives' salaries compared to average staff pay. If they don't, they should brace themselves for more shareholder revolts in 2019. (news.financializer.com). As reported in the news.

organisations: Whitehall, with the Treasury to the fore, was highly pessimistic about Britain's economic prospects outside the EU and hasn't changed its mind about the desirability of finessing the softest of all Brexits, according to The Guardian. Philip Hammond has been able to whistle up plenty of support from employers' organisations which unsurprisingly, perhaps want as little disruption to business as usual as possible. While the prime minister insists repeatedly that her Brexit blueprint will mean the UK controlling its borders, laws and money, the real aim of the government is to keep as close as possible to the status quo. This pessimism is curious for two reasons. What's more, the pessimism about the UK is mirrored by an optimism about the health of the EU that is unwavering, despite a plethora of evidence to the contrary. It suggests that the low-wage, low-skill, low-investment economy that existed on the day Britain voted in the June 2016 referendum is as good as it gets. (news.financializer.com). As reported in the news.

trade talks: Source Bloomberg More From Bloomberg Surveillance' Full Show 11/23/2018 19 hours ago02 03Black Friday Kicks Off Season of Optimism for Retailers01 51Trump, Xi Signal Readiness for Trade Talks at G-20 Meeting01 39Cash as an Asset Makes Bargains Less Compelling, JPM's Maharaj Says 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 clips46 00'Bloomberg Markets Balance of Power' Full Show Markets The Close' Full Show 11/23/2018 01 32Oil Declines to Lowest Price in More Than a Year03 47What Oil, Gold, Bitcoin Signal for ETF 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 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.

trade war: Chinese markets extended their slump in Asia amid the trade war with the United States, and with Wall Street closed later for Thanksgiving, Europe followed suit, according to Nine News Australia. The region had plenty of concerns of its own. To improve your experience update it here News World Euro stocks drop after tech reboot fails9 19pm Nov 22, share markets have dropped back into the red as investor worries mounted about slowing global growth in the face of rising US interest rates and trade tensions. Italy was under pressure in both stock and bond markets as sparring resumed over its budget plans. The dollar also edged lower for a second day as traders sold the greenback going into Thanksgiving and after Wall Street had seen Apple shares buckle again after a failed attempt at a rebound. Some disappointing big-name earnings added to the gloom. (news.financializer.com). As reported in the news.

wh: The 0.5% short position in WH Smith, opened on 19 November, was equivalent to 10.5m at the close of trading on Thursday, according to The Guardian. The short against WH Smith comes after the company bought US airport retailer InMotion for 155m in October, in a return to the States after a hiatus of 15 years. SFM UK Management has nine publicly declared shorts in British firms, regulatory filings show. GLG Partners, another British hedge fund, also built up a 0.5% short position in WH Smith this month following the purchase. SFM UK provides investment management services to Soros Fund Management, the American firm controlled by the billionaire US-based investor who is known for profiting from bets against sterling when the UK left the exchange rate mechanism in 1992. The retailer's shares have risen by 24% since 2016, but are down 17% this year. (news.financializer.com). As reported in the news.

asian stocks: Source Bloomberg More From Daybreak Asia01 36 18Bloomberg Daybreak Asia - Full Show 11/23/2018 6 hours ago02 32Fed Needs to Keep Hiking as Economy Remains Reasonably Strong, Scotiabank Says12 hours ago01 52Meituan Losses Balloon as Food-Delivery Battle With Alibaba Intensifies13 hours ago03 33JPMorgan Asset Is 'Constructive' on Asian Stocks, Tsang Says13 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 07Soc Gen Says Euro Is Cheap But Might Not Rise Until Second-Half 201904 51Rumblings of Discontent in Brussels as May Returns for More Talks02 56Taiwan Vote on Changing Olympic Team Name Risks China Anger01 16Goldman Says Blankfein Met With Financier at Center of 1MDB Probe 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. Bloomberg's Stephen Stapczynski reports on Bloomberg Daybreak Asia. 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.

benefits: The warning comes a year after the Paris-based organisation pointed out the benefits of a second referendum and a vote to remain in the EU to save the UK from a severe economic shock. oecd forecast In its latest quarterly report, the OECD side-steps the potential gains from a fresh vote, but argues that the UK must maintain the highest levels of cooperation possible with Brussels, according to The Guardian. It also repeated its warning made last year that the failure to come to a withdrawal agreement with the European Union is by far the greatest risk in the short term . It said a no-deal scenario could subtract more than 2% from real GDP over two years, amounting to 40bn Brexit is an important source of political uncertainty. The thinktank, which advises 34 of the world's richest countries, appeared to support Theresa May's deal with the EU, or an even closer alternative, as the best way to avoid harming the UK economy and placing extra strain on global growth. It is imperative that the EU and the UK manage to strike a deal that maintains the closest possible relationship between the parties, the OECD said. By contrast, prospects of maintaining the closest possible economic relationship with the European Union would lead to stronger-than-expected economic growth, it said. The lack of details on the future relationship between the United Kingdom and the European Union or the extension of the transition period, and the resulting uncertainties, could incite businesses to delay investment plans further. (news.financializer.com). As reported in the news.

boston: Jefferies health care strategist Jared Holz after digesting analyst reaction to Boston Scientific's planned 4.2 billion acquisition of health-care company BTG sounded off to clients in a Wednesday morning email, according to The Toronto Star. Still amusing that every sell sider that has done zero work is calling it a good strategic fit' or some alteration of that. One trader has had enough. Truly amazing how this business works. Holz was just getting warmed up. Mr. (news.financializer.com). As reported in the news.

crude oil: The S&P/TSX composite index surged to close up 218.02 points to 15,095.02, a day after losing 194 points, according to The Toronto Star. The key energy, materials and industrials sectors that account for about 40 per cent of the index led the recovery on higher crude oil and gold prices. I would say yesterday's selloff is probably a more accurate representation of where people's heads are at out there, says Ryan Crowther, vice-president and portfolio manager at Franklin Bissett Investment Management. The January crude contract rose 1.20 U.S. to 54.63 U.S. a barrel and the December natural gas contract was down 7.2 cents to 4.45 U.S. per mmBTU. Article Continued Below The December gold contract jumped 6.80 U.S. at 1,228.00 U.S. an ounce and the December copper contract gained 2.8 cents at 2.79 U.S. a pound. The focus now is on headwinds such as earnings growth, higher interest rates, trade and inflation. Crowther says market sentiment has changed from a year ago when U.S. tax cuts drove economic growth and heightened corporate profits. (news.financializer.com). As reported in the news.

end: As Opposition Leader Bill Shorten prepares to announce Labor's detailed energy plan tomorrow, he says renewable energy makes economic sense, according to Nine News Australia. A lot of the coal power stations are coming to the end of their technical life, so we're going to need to replace generation, he told reporters in Sydney. To improve your experience update it here News National Labor vows to replace coal power stations with renewable energy By AAP7 23pm Nov 21, 2018Facebook Tweet Mail New power generation projects are on the table, but the federal government and opposition are divided on an energy source. We need to replace generation with the cheapest and most efficient forms of new energy - that's renewable energy. AAP The technology sector, industry and scientists support renewable energy, he added. We need to replace generation with the cheapest and most efficient forms of new energy - that's renewable energy, Mr Shorten said. (news.financializer.com). As reported in the news.

jp morgan: Why central bank digital currencies will destroy bitcoin Nouriel Roubini Read more But as the broad losses in Wall Street pulled its key indices into the red for this year, economists at JP Morgan warned that the trade dispute between the world's two biggest economies threatens more trouble ahead, according to The Guardian. We forecast that the US imposes an additional 25% tariff on virtually all goods imports from China early next year. Plunging oil prices and intensifying concerns about technology stocks in the US spread contagion to Asia Pacific markets on Wednesday after renewed losses on Wall Street. This will drag materially on activity in China and could accelerate the decline in global business confidence now underway, the JP Morgan team wrote in a note to clients. The prospect of more rate hikes will set alarms bells ringing in emerging markets, which have already been squeezed of liquidity by the rise of the US dollar over the past few months. Although they forecast that the Chinese authorities will throw more policy stimulus to offset a hit from the tariffs and keep GDP growth at 6%, the team predicted that markets must prepare for the Federal Reserve to raise borrowing costs another four times next year. (news.financializer.com). As reported in the news.

middle: Source Bloomberg More From Bloomberg Daybreak Middle East01 36 25Bloomberg Daybreak Middle East Full Show 11/22/2018 05 00African Selloff Probably Isn't Over Yet EM Insight02 19Eastspring's Graham Sees Positive Returns From Stocks01 32 30Bloomberg Daybreak Middle East Full Show 11/21/2018 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 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. She also discusses her investment strategy with Yousef Gamal El-Din and Tracy Alloway on Bloomberg Daybreak Middle East. More episodes and clips04 34Apple Production Cuts Shouldn't Hurt December Quarter, Loup's Munster Says45 12'Bloomberg Technology' Full Show 11/21/2018 04 07Why Foxconn's Cuts Are Not Just an Apple Problem05 09Amazon Flexes Retail Muscle as Holiday Shopping Season Kicks Off 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 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.

plants: Since stocks began tumbling two months ago, investors haven't abandoned the market, according to The Toronto Star. At least, not all of it. Hello power plants and bleach. In recent weeks, as they've pulled money out of funds that invest in go-go technology companies, they've also been buying utilities, companies that make everyday necessities for consumers and other stocks that tend to have smaller swings in price than the rest of the market. Mark Lennihan / The Associated Press file photo It's part of a big shift in investor behaviour as fears about rising interest rates, a global trade war and slowing economic growth around the world have roiled markets. Fears over the popularity of the new iPhone has caused Apple to slump. (news.financializer.com). As reported in the news.

shares: US shares were set to open sharply firmer, futures indicated after two days of losses that wiped out the S&P500's gains for the year and left the tech-heavy Nasdaq index teetering on the brink of falling into the red, according to Nine News Australia. Losses have been concentrated in the technology sector, as investors lightened holdings of FAANG shares -- Facebook, Apple, Amazon, Netflix and Google -- the group that had propelled the Wall Street's decade-long bull market. To improve your experience update it here News World Stocks struggle after tech-driven rout9 05pm Nov 21, stocks have attempted to steady following a bruising Wall Street session that wiped US1 trillion A1.4 trillion off the value of leading US tech shares, while oil prices staged a modest rebound after slumping to one-year lows. The falls saw the Nasdaq index touch seven-month lows and energy shares too had dropped in line with a 6 per cent oil price slump S&P 500 . That fed through to Asia on Wednesday, taking MSCI's index of ex-Japan Asia-Pacific shares almost half a per cent lower, but it clawed back some of those falls to trade flat by 0900 GMT. MSCI's all-country benchmark was flat too, attempting to snap two days of falls. David Vickers, senior portfolio manager at Russell Investments, noted however that gloom has tended to deepen as the Wall Street session progresses and more company earnings emerge. That, alongside a 1.5 per cent bounce in Brent crude futures and some optimism over Italy's budget stance, helped European equities open 0.4 per cent higher, with a tech index up half a per cent. (news.financializer.com). As reported in the news.

town: The Lake Muir property located 335km from Perth has hit the market twice since closing doors on its wilderness retreat' in 2008, according to Nine News Australia. Prior to that it was a timber mill town which featured 20 self-contained cottages, a town hall, workshop and common areas. To improve your experience update it here News National No takers for million-dollar WA town as it passes in at auction but agent is positive it'll sell By Gemma Bath Producer12 49pm Nov 21, 2018Facebook Tweet Mail An entire West Australian town up for sale has been passed in at auction for 635,000, but its selling agent is confident it will go in the next few weeks. Tone River is a 39 hectare down in WA, 335km from Perth. Tone River, as the town is known, was auctioned on November 14, with an asking price of one million dollars. Domain Domain It shut up shop in 1952. (news.financializer.com). As reported in the news.

gdp: The forecasts for the UK economy are horrible and most economists are broadly in agreement that Brexit will cause lasting damage, according to The Guardian. The Office for Budget Responsibility forecast GDP growth for the next five years of around 1.5% a year. I couldn't find much if any good news the best I could find was that inflation didn't rise. The European commission forecast that in 2019 the UK, along with Italy, will be the slowest growing country in the EU28 with a growth rate of 1.2%. In 2020 the commission forecasts that with a growth rate of 1.2% again, Britain will be the slowest grower in the EU assuming it hasn't left. All of this could be much worse if there is no sensible Brexit deal. The IMF has forecast growth for the UK of 1.4% in 2018 and 1.5% in 2019. (news.financializer.com). As reported in the news.