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

southgate: Euro 2020 qualifying Southgate urges England to deal with expectations Read more As coaches, both share a mutual respect for each other's methods and will have a chance to test their developing sides against one another in the Portuguese city of Guimar es on 6 June, 2019, according to The Guardian. There are a lot of similarities between teams, said Southgate, with young players coming through who are going to grow as a team, coupled with some outstanding more senior players already in the Premier League. Gareth Southgate describes the 4-1 defeat of the Dutch at Euro 96 one of his best days in football while Ronald Koeman played a major role in stopping the English from reaching the 1994 World Cup in a qualifying group game where he scored and, controversially, avoided being sent off. I often see Ronald at matches and we chat a lot. Koeman offered a similar appraisal. It's two teams who will play similarly and it's a really good game to look forward to. (news.financializer.com). As reported in the news.

spread employment: John Henry, the outgoing Oshawa mayor and incoming chair of Durham Region, says significant strides have been made to spread employment across sectors other than automotive, according to The Toronto Star. We were halfway up the mountain until the GM announcement. Optimists say the local economy has already become more diverse and resilient in response to the decades of decline in the automotive manufacturing sector since GM's heyday in the 1980s, when the Oshawa plant boasted more than 36,000 jobs. Steve Russell / Toronto Star But it will take a lot more than a diverse jobs base to revive a blue-collar community impaired by the sputtering auto sector, says labour market analyst Tom Zizys. There are different pockets of sectors that are starting to grow there, but I don't think they've thought about what is a proper economic development strategy, linked to who lives in region. Durham has historically relied on two major industries auto and nuclear power, Zizys said. (news.financializer.com). As reported in the news.

stores: The store highlights a different approach for Ikea, which has relied mostly on sprawling 300,000 square-foot stores where customers traverse a labyrinth of aisles full of sofas, cabinetry, appliances an knick-knacks, and can stop to refuel in the food court, according to CNN. Ikea is overhauling its strategy in order to adapt to the growth of online shopping for affordable housewares and furniture. The company announced on Monday that it will open up a 17,530 square-foot showroom on Manhattan's Upper East Side next spring. Competition from players Amazon AMZN Wayfair W Overstock OSTK has stiffened, while places like the Container Store TCS and Williams-Sonoma WSM have squeezed Ikea on smaller home decorations. Ingka Group, the Swedish holding company that owns and operates most of Ikea's stores, said last month that it would lay off about 7,500 employees -- 5% of its global workforce -- and build 30 smaller stores in major cities around the world in the next few years. Target TGT has also made a play for kitchen and bathroom purchases online. (news.financializer.com). As reported in the news.

trading session: Wall Street rallied sharply in New York after opening for trading on Monday morning, before paring some of its earlier gains in the afternoon, according to The Guardian. The Dow Jones Industrial Average had risen by almost 300 points by the end of the trading session, led by lmanufacturing companies such as Boeing and Caterpillar. In reprieve for financial markets, the development came after a two-and-a-half-hour dinner meeting between Donald Trump and Xi Jinping in Buenos Aires, following months of escalating tensions around trade and other issues. The FTSE 100 index in London closed up more than 1%, while Germany's Dax jumped 2.3%, France's CAC gained 1%, Spain's Ibex rose 1.1% and Italy's FTSE MIB gained 2.3%. Quick guide Lowdown on trade war truce between US and China Show Hide What are the terms of the truce between the US and China Washington agreed to postpone by 90 days the increase in tariffs from 10% to 25% on 200bn of Chinese goods, due to kick in on 1 January, while China pledged to import more US products, including according to Washington farm, energy and industrial products. Trump tweeted that China had also agreed to reduce and remove tariffs on US car imports from the current 40% level but there was no confirmation from Beijing. This should help shrink the US trade deficit with China. (news.financializer.com). As reported in the news.

women: Uefa was impressed by the strength of the FA's bid for a 16-team competition concluding in a Wembley final but the geographical spread and limited size of certain venues seems puzzling, particularly as Euro 2021 is regarded as integral to the development of the women's domestic game, according to The Guardian. Women's Super League talking points from the weekend's action Read more Matches are set to be staged at Brighton's Amex Stadium, Wembley and Brentford Community Stadium in London, Milton Keynes's Stadium MK, Manchester City's Academy Stadium, Nottingham's City Ground, Rotherham's New York Stadium, Sheffield's Bramall Lane and Southampton's St Mary's. That dictates a huge swath of the north, most notably the north-east, could be excluded from easy access to a tournament which England won unopposed. Baroness Sue Campbell, the FA's director of women's football, said This is fantastic news for the future development of girls' and women's football in England. A home Euro in 2021 has the potential to be a pivotal moment in the development of the women's game in England. Tournaments of the scale and profile of Euro 2021 have the power to inspire a new generation of young girls, and women of all ages, to get involved in the sport as well as the opportunity to grow support for the women's game at both a club and national level. (news.financializer.com). As reported in the news.

china show: Quick guide Lowdown on trade war truce between US and China Show Hide What are the terms of the truce between the US and China Washington agreed to postpone by 90 days the increase in tariffs from 10% to 25% on 200bn of Chinese goods, due to kick in on 1 January, while China pledged to import more US products, including according to Washington farm, energy and industrial products, according to The Guardian. This should help shrink the US trade deficit with China. Trump said their dinner after the G20 summit in Buenos Aires was an amazing and productive meeting with unlimited possibilities for both the United States and China . A statement by the White House spokeswoman, Sarah Sanders, issued as Trump was on his way back to Washington, listed concessions the Chinese president was said have made, including stopping Chinese exports to the US of fentanyl, a synthetic opioid, and the death sentence for convicted traffickers. Trump tweeted that China had also agreed to reduce and remove tariffs on US car imports from the current 40% level but there was no confirmation from Beijing. This is seen as a temporary respite in the trade spat between Washington and Beijing, which started in June after talks broke down. So has the trade war ended No. (news.financializer.com). As reported in the news.

councils: English councils face a funding gap of 5.8bn by 2020, according to the Local Government Association, according to The Guardian. The plea from Labour councils comes ahead of this week's financial settlement for local government. Bosses from Manchester, Newcastle and Birmingham are among almost 80 Labour council leaders to write to James Brokenshire, the communities secretary, demanding that a forthcoming cut in funding of 1.3bn is cancelled at an absolute minimum . It comes as several councils warn they are facing bankruptcy and one, Northamptonshire council, is effectively bailed out by the government after hitting a financial crisis. In their letter, they warn that by 2020, councils will have lost 60p out of every 1 they were given by central government in 2010. The most deprived areas of the country have been hit much harder than the richest areas - nine of the 10 most deprived councils in the country have seen cuts of almost three times the national average. As leaders of councils representing millions of citizens, we are writing to make clear that you must use the settlement to truly end austerity in local government and immediately provide the funding we need to avoid catastrophic collapse in key council services, they write. (news.financializer.com). As reported in the news.

kosovo: They will face the Czech Republic, Bulgaria, Montenegro and Kosovo as they attempt to reach a tournament that will be staged in 12 cities across the continent, including Glasgow, Dublin and London, according to The Guardian. Uefa confirms new European club competition will begin in 2021Read more We're favourites and that's something we've got to start getting used to anyway, said Southgate of the draw. England had the best draw of the home nations when the groups were decided at a ceremony in Dublin on Sunday. We're going to have high expectations over the next few years and adapting to that is probably key to our development as a team now. But if you don't play well on any given day you drop points and that is the reality of dealing with those sorts of matches. We should win the group. (news.financializer.com). As reported in the news.

trade: Scott Morrison got his trade point across at the G20 but ongoing tensions between China and the US watered down the summit's key messages, according to Nine News Australia. The group of nations agreed to reform the World Trade Organisation, just two weeks after the US and China could not agree on it at another key summit. To improve your experience update it here News National China, US to talk new trade deal after G209 16am Dec 2, and the United States will come up with a new trade deal within 90 days after a highly successful meeting between Donald Trump and Xi Jinping. But the G20's annual commitment to fighting protectionism in the global economy was missing, as the US and China continued to slap tariffs on each other. After the G20, President Trump and President Xi met for more than two hours and promised to come up with new rules on technology theft, intellectual property, services and agriculture. Sometimes the progress is made simply by bringing issues to a head, Mr Morrison told reporters before leaving Buenos Aires on Saturday local time. (news.financializer.com). As reported in the news.

deal: But, he went on, any prospect of the UK crashing out of the EU without a deal risked international consequences, according to The Guardian. I would like to once again ask for your support to avoid no deal, he said. Speaking before a bilateral meeting at the G20 summit in Argentina, the Japanese prime minister said he wanted to pay tribute to May's leadership in securing the deal. As well as to ensure transparency, predictability and legal stability in the Brexit process. The president of Toyota said last month that a no-deal Brexit should be avoidedat all costs. Japanese investors have repeatedly said the UK could lose its standing as the country's preferred gateway to Europe in the event of no deal, which could disrupt supply chains. (news.financializer.com). As reported in the news.

rappler: One indispensable source of information, both for the international media and readers in the Philippines has been the upstart news site Rappler, which is now facing a reckoning with the government it has been a dogged check upon, according to CNN. Rappler CEO Maria Ressa and her company were formally indicted on multiple counts of tax evasion last week, charges critics say are politically motivated and designed to silence independent media in the southeast Asian country. While the government has hardly been shy about its intention to go after both dealers and users, hard data on the number of killings has often been tough to come by. The formal accusations bring with them a potential 10-year prison term under Philippines tax law. Read More She was not arrested at the airport but confirmed to reporters in the arrival hall that a warrant of arrest had been issued. Shocking images like this one have become a common sight due to Philippines President Rodrigo Duterte's two-year drug war. context Image Object name Shocking images like this one have become a common sight due to Philippines President Rodrigo Duterte's two-year drug war. description Shocking images like this one have become a common sight due to Philippines President Rodrigo Duterte's two-year drug war. url On Sunday evening, Ressa landed in Manila to fears that she could be arrested at the airport. (news.financializer.com). As reported in the news.

emma: I used to think I was calm and in control, according to The Guardian. Then I had children Emma Brockes Read more They found that over this time span, women make on average 49 to every dollar that men make yes, less than half. While the difference is usually calculated based on how much money men and women respectively make working full-time over the course of a year, the new data from the Institute for Women's Policy Research takes a look at women and men's income over 15 years. And the reason is simple women are more than twice as likely than men are to leave paid work to look after their children, or their ageing parents, or both. Men and women who take a year out suffer approximately the same penalty to their income, but women who stay at home for four years are paid 65% less than other women who continued working, whereas men who drop out for the same amount of time make 57% as much as other men who don't take the same amount of time out. The problem gets worse unsurprisingly the longer that we drop out of the workforce. (news.financializer.com). As reported in the news.

yemen conflict: The subject of the snatched conversation was not immediately clear but a French presidential aide said afterwards that the Khashoggi murder and the Yemen conflict were the two key topics of the short exchange, according to The Guardian. According to a Guardian analysis of their only partly audible conversation, Macron replies to the crown prince's assurances I do worry. The two leaders were having an informal conversation on the sidelines of the summit, standing close together and apparently unaware their conversation was being recorded. I am worried I told you. Thank you very much. G20 summit can world leaders find unity or is it simply showboating Read more Yes, you told me, the prince says. (news.financializer.com). As reported in the news.

bank executives: Now what By Brett McLeod Presenter and Reporter9 58pm Nov 30, may not be a relaxing time for many of our bank executives, according to Nine News Australia. One year to the day since a reluctant Malcolm Turnbull announced a Royal Commission into the Finance industry, Kenneth Hayne has presided over his final public hearing. To improve your experience update it here News National Finance Royal Commission It's over. Appropriately the final witness was the regulator, the Australian Prudential Regulation Authority. APRA Chairman Wayne Byres in one quote summed up the central theme of 68 days of public hearings No clarity of accountability has been at the heart of many problem that have happened. Its performance as watchdog for the sector could charitably be described as underwhelming, given the staggering scale and variety of malfeasance which occurred under its watch. (news.financializer.com). As reported in the news.

canada: Statistics Canada says the Canadian economy grew at an annualized pace of 2.0 per cent in the third quarter, matching the expectations of economists, according to The Toronto Star. Sean Kilpatrick / THE CANADIAN PRESS However, economists said the details in the latest reading of the economy showed troubling signs of weakness, adding that a separate report showed the economy ended the quarter on a weak note. The Canadian economy grew at an annualized pace of two per cent in the third quarter compared with 2.9 per cent in the second quarter, matching the expectations of economists, according to Thomson Reuters Eikon. The Bank of Canada raised its key interest rate target in October to 1.75 per cent, its highest level in about a decade. Paul Ferley, assistant chief economist at Royal Bank, pointed to the decline in business investment and a larger-than-expected drop in residential investment as disappointing. Investor expectations are that the central bank will keep its key rate on hold when it makes its next scheduled rate announcement next week, but expectations had been that it would likely raise it in January. (news.financializer.com). As reported in the news.

claim: They don't offer any particular claim on assets, according to Bloomberg. They're all priced relative to other currencies. But what about currencies They don't produce cash flows. So how do you go about determining their value On this week's episode of the Odd Lots podcast, we speak to longtime currency market veteran Marc Chandler of Bannockburn Global Forex about how he approaches the foreign exchange market, and what the future of the U.S. dollar may hold. LEARN MORE Running time 30 25Before it's here, it's on the Bloomberg Terminal. (news.financializer.com). As reported in the news.

growth forecast: That's down from an original projection of 2.5 per cent in the March budget, according to The Toronto Star. The growth forecast for this year was cut to 2.5 per cent from 2.7 per cent. Gross domestic product will increase 2 per cent in 2019, the province said Friday in its second-quarter fiscal update. The plunging price of local crude is threatening to eat into corporate profits and reduce investments in Alberta. The situation, costing the nation's economy 80 million Canadian a day, has spurred the province to seek to buy rail cars to help move more crude to market and appeal to the federal government for help. Larry Mac Dougal / THE CANADIAN PRESS file photo The dimmer outlook reflects the fallout from a crisis in Alberta's oilpatch, sparked by a lack of pipeline space that has sent Canadian heavy-crude prices to record lows and prompted companies to shut in production. (news.financializer.com). As reported in the news.

work: It is now investing in research into a male pill, after global studies showing men in many countries would be willing to use it if there were one, according to The Guardian. Researchers at Dundee University have been given 929,585 728,311 over two years for work at their National Phenotypic Screening Centre. Male pill could be on horizon as trials yield positive results Read more The money comes from the Bill and Melinda Gates Foundation, which has been crusading on family planning for many years, with initiatives to help more women in developing countries access the contraception they want to control the size of their family. They are seeking existing drugs or chemical compounds that can interfere with certain sperm behaviours phenotypes essential for fertility. Our screening efforts so far have shown such drugs exist. Dr Paul Andrews, the director of operations, said Firstly, their ability to swim up the female reproductive tract and, secondly, a cellular process in the head of the sperm which must happen for the cell to progress towards the egg. (news.financializer.com). As reported in the news.

japan: MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent on Friday, according to Nine News Australia. In Japan, the Nikkei was up 0.2 per cent. To improve your experience update it here News World Asian shares soften ahead of G20 summit12 31pm Nov 30, markets has ticked slightly lower in early Asian trade as investors await a closely watched meeting between the Chinese and US presidents in Argentina this weekend for signs of a trade war detente. The mostly muted market moves followed a mixed day on Wall Street, where stocks swung between losses and gains to ultimately end lower, amid conflicting signals on the outlook for trade talks. US stock market futures pointed to more weakness on Friday, with S&P e-mini futures ticking down 0.14 per cent to 2,740.5. The Dow Jones Industrial Average fell 0.11 per cent, to 25,338.84, the S&P 500 lost 0.22 per cent to 2737.8 and the Nasdaq Composite dropped 0.25 per cent to 7273.08 at Thursday's close. (news.financializer.com). As reported in the news.

m debt: Mursell warned that other construction companies could be caught out by the sudden credit freeze unless they also took action to strengthen their balance sheets, according to The Guardian. Kier, which employs more than 16,000 people and took on Carillion's share in HS2 and smart motorways upon its collapse, stunned the markets by warning that the risk posed by its 624m debt had increased, forcing it to raise money. The company's chief executive, Haydn Mursell, said it had been forced to act because banks had performed a 180-degree turn since the failure of Carillion and were planning to reduce or stop lending to the construction sector. It would go to shareholders for the cash but has secured promises from a group of financial institutions including Santander, HSBC and Citigroup to buy shares if investors did not want them. Kier, in a statement to the stock market, said its debt position had become more risky amid greater reluctance among financial institutions to lend to the construction sector. Its shares dived by 32.5% to 508p, cutting its stock market value by 329m to 492m. (news.financializer.com). As reported in the news.

media bots: The electoral matters committee is expected to hold a public hearing in Canberra on Wednesday to launch the inquiry, sparked by concerns the next federal election could the target of social media manipulation, according to Nine News Australia. The inquiry will look at the extent to which social media bots may have targeted Australian politics; the likely sources of social media manipulation within Australia and internationally; ways to address the spread of deliberately false news online during elections; and measures to improve the media literacy of Australian voters. To improve your experience update it here News National Push to stop fake news impact on election12 56pm Nov 30, 2018Facebook Tweet Mail The spread of fake news and use of social media bots to target voters will be explored in a new parliamentary inquiry. Related Articles Kelly should face preselection TurnbullUS, China declare halt to new tariffs Australia's embassy proposal divides leaders in the Middle East Twitter took action earlier this year to stop people posting identical messages from multiple accounts, cracking down on a tactic used by Russian agents during the 2016 US presidential election. Researchers say Twitter bots spread propaganda before the 2016 US elections and have continued to engage in US politics. The social media giant also stopped people using software to simultaneously perform actions such as liking or retweeting from multiple accounts, as well as removed thousands of fake accounts. (news.financializer.com). As reported in the news.

apartment: The deal is not finalized and may not go through, according to The Toronto Star. Pedestrians pass in front of the GWL Realty Advisors Livmore luxury apartment building stands under construction in Toronto, on Tuesday, July 10, 2018. The three companies have partnered to purchase the Dynamic Funds Tower for about C 475 million 358 million said the people, who asked not to be identified because the matter is private. GWL Realty Advisors Inc., OPTrust, and Investors Group Inc. are said to be in talks to buy a tower in Toronto's financial district from Oxford Properties Group Inc. and Canada Pension Plan Investment Board, although all companies declined to comment on the matter. Canada Pension Plan and Oxford, the real estate unit of Canadian pension fund OMERS, also declined to comment. Cole Burston / Bloomberg Representatives for GWL, a unit of Great-West Lifeco Inc., OPTrust, which manages pensions of Ontario public servants, Investors Group, a unit of IGM Financial Inc., declined to comment. (news.financializer.com). As reported in the news.

assistant attorney: It will bring the total paid out to victims so far to nearly 2bn, out of more than a total of 4bn that will eventually be paid, according to The Guardian. Bernie Madoff's scheme devastated retirement and pension funds, charitable organizations and thousands of individual investors, said US assistant attorney general Brian Benczkowski. The payout the third made by the Madoff Victim Fund will be distributed starting Thursday to 27,000 victims of the infamous scammer around the world. Sign up for the new US morning briefing The payments announced today could not have happened without the prosecutors' relentless pursuit of proceeds of Madoff's fraud through civil forfeiture, he said. The disgraced financier was arrested 10 years ago next month, after years of ripping off investors, many of whom lost their life savings to the scheme. Victims who would not have seen a dime in other compensation programs will now recover more than half of their losses. (news.financializer.com). As reported in the news.

buenos aires: Watch this space, as he Trump would say, Mr Morrison told reporters in Canberra ahead of jetting off to Buenos Aires for the two-day gathering, according to Nine News Australia. Trade tensions between the US and China, concern over the murder of Saudi journalist Jamal Khashoggi and calls to put climate action back on track form the background of the G20 summit in the Argentinian capital. To improve your experience update it here News NationalPM Morrison may get Trump G20 meeting5 17pm Nov 29, Morrison has flagged he could meet with Donald Trump at the G20 summit in Argentina, despite not being included on the US president's formal program. Mr Morrison will join Mr Trump and other world leaders in a series of sessions on Friday and Saturday Argentina time dealing with such issues as anti-corruption, education, jobs, climate and energy. Many leaders will be seeking to talk to Saudi Crown Prince Mohammed bin Salman, who will be attending the summit, amid concerns about the murder of Khashoggi. He will be accompanied by Finance Minister Mathias Cormann, after Treasurer Josh Frydenberg pulled out to deal with domestic political issues. (news.financializer.com). As reported in the news.

move: The length of time young doctors from outside the EU are able to stay in Britain under the scheme may also rise from two to three years, according to well-placed sources, according to The Guardian. The change comes as the government is under pressure to explain how its intention to move to a new immigration system after Brexit, with right of entry dependent on skills, will help alleviate NHS under-staffing. Ministers have agreed to significantly expand the 1,500 doctors a year allowed to come and work in Britain under the medical training initiative MTI . The move could result in the maximum number of non-EU medics able to come rising to as many as 3,000. Ministers believe the NHS-wide shortage of medics is so acute, especially in hospitals, that they have to lift the cap on the number who can come in under the MTI, even at the risk of provoking a row about immigration. He recently wrote to Caroline Nokes, the immigration minister, to suggest the change and has played a key role in making it happen. Matt Hancock, the health secretary, has been lobbying the Home Office over the issue in recent months. (news.financializer.com). As reported in the news.

meeting: A White House schedule lists the meeting - known in diplomatic terms as a pull aside - after a meeting between Mr Trump and prime ministers of Japan and India on the sidelines of the summit in Buenos Aires, according to Nine News Australia. The prime minister will also meet with French President Emmanuel Macron on Friday local time to talk about the navy submarine contract, cooperation in the Indo-Pacific and fixing the World Trade Organisation. To improve your experience update it here News National Morrison secures G20 meeting with Trump5 05pm Nov 30, Minister Scott Morrison has secured a meeting with US President Donald Trump at the G20 summit. Australia has always been a successful trading nation and that's how we will continue to ensure the prosperity for our people, he told reporters after landing in Buenos Aires on Friday morning. The US has hurt the stability of the WTO recently, refusing to appoint new trade judges and threatening to withdraw altogether. It's not just for our people, all of the G20 nations have benefited so significantly by their exchanges and trade with each other. (news.financializer.com). As reported in the news.