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

men: Some Amazon investors have also asked the company to stop out of fear that it makes Amazon vulnerable to lawsuits. ; The researchers said that in their tests, Amazon's technology labeled darker-skinned women as men 31 percent of the time, according to The Japan Times. Lighter-skinned women were misidentified 7 percent of the time. Privacy and civil rights advocates have called on Amazon to stop marketing its Rekognition service because of worries about discrimination against minorities. Darker-skinned men had a 1 percent error rate, while lighter-skinned men had none. The new study, released late Thursday, warns of the potential of abuse and threats to privacy and civil liberties from facial-detection technology. Artificial intelligence can mimic the biases of their human creators as they make their way into everyday life. (news.financializer.com). As reported in the news.

aren t: It's small wonder why, as consumer sentiment is at a two-year low thanks in part to the record-long government shutdown and shoppers just aren't as eager to open their wallets, according to Market Watch. But while the stock market certainly been choppy as of late, there are plenty of named that have hung in there. Packaged foods giant Conagra Brands CAG, -0.66% has plunged about 40% in the last 90 days, while retailer Macy's M, 4.08% has plummeted 25% and consumer tech darling Apple AAPL, 3.31% has slumped 20% in the same period. After all, the S&P 500 index SPX, 0.85% is basically flat over 90 days. It may sound like an old platitude, but many investors are forgetting that they are looking for opportunities in a market of stocks and not just a stock market. That's hardly a sign to panic and give up on equities. (news.financializer.com). As reported in the news.

citizen lab: In both cases, the researchers believe they were secretly recorded. ; Citizen Lab Director Ron Deibert described the stunts as a new low, according to The Japan Times. We condemn these sinister, underhanded activities in the strongest possible terms, he said in a statement Friday. Twice in the past two months, men masquerading as socially conscious investors have lured members of the Citizen Lab internet watchdog group to meetings at luxury hotels to quiz them for hours about their work exposing Israeli surveillance and the details of their personal lives. Such a deceitful attack on an academic group like the Citizen Lab is an attack on academic freedom everywhere. Citizen Lab, based out of the Munk School of Global Affairs at the University of Toronto, has for years played a leading role in exposing state-backed hackers operating in places as far afield as Tibet, Ethiopia and Syria. Who these operatives are working for remains a riddle, but their tactics recall those of private investigators who assume elaborate false identities to gather intelligence or compromising material on critics of powerful figures in government or business. (news.financializer.com). As reported in the news.

company: Shares got a 3.6% boost in Friday trading after the coffee company reported adjusted earnings per share of 75 cents, ahead of the Fact Set consensus for 65 cents per share, according to Market Watch. Revenue of 6.63 billion exceeded the 6.31 billion Fact Set consensus. Starbucks Corp. posted an earnings and revenue beat in the fiscal first quarter, but analysts are looking down the line, worried that the coffee company can't maintain positive results. Globally, Starbucks reported a same-store sales increase of 4%, which the company said was driven by 4% growth in the U.S. Starbucks SBUX, 3.63% shares have gained 10.8% over the last year while the S&P 500 index SPX, 0.85% has fallen 6.2% for the period. Overall, the prospects for Starbucks look good in the short term, reasonable in the medium term, but somewhat more challenging over the long term, wrote Neil Saunders, managing director at Global Data Retail. Read We'll never see that money back' - how small business owners can recover from the shutdown While those quarterly numbers were positive, some analysts still urge investors to proceed with caution. (news.financializer.com). As reported in the news.

hunan jiangxi: The two cities have made steady progress in developing industrial economies as the Chinese government's plan to promote city clusters has provided policy tailwinds, the report said, according to Global Times China. Beyond the traditional megacities along the coast, third- and fourth-tier cities in central China are rising in economic importance and should be on the radar of China-focused businesses, said Wang Dan, a China analyst at the EIU. The EIU's China Emerging City Rankings are based on a variety of indicators to measure growth, including real GDP, metropolitan population, urban consumption expenditure, foreign direct investment, fixed-asset investment, the urban built area and policy support. Central provinces of Anhui, Henan, Hubei, Hunan and Jiangxi dominated the top performers of the latest ranking of Chinese emerging cities by British think tank Economist Intelligence Unit EIU . Suzhou City in eastern China's Anhui Province came first thanks to strong gains in urbanization and metropolitan population, followed by Yueyang City in central China's Hunan Province. (news.financializer.com). As reported in the news.

january deadline: Risking at least a 100 fine for a late submission, 760,000 will leave it until the last day and 30,000 people won't file until the last hour before the 11.59pm, 31 January deadline, based on last year's numbers, according to The Independent. In fact, submissions typically peak just 17 seconds before the cut-off, says tax software provider GoSimple Tax. With less than a week to go until self-assessment submissions must be in alongside any money owed, HMRC has warned it is still waiting for 3.5 million people's figures. But with more than 11.5 million people due to file a return this year, about 7 per cent equating to around 810,000 people won't complete one, often because they incorrectly assume they don't have to if they have nothing to pay. More than half the UK's taxpayers don't know what the individual tax-free allowance is, for example. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial A recent survey by consumer group Which found there are still huge gaps in the nation's basic knowledge of tax, including the submissions process. (news.financializer.com). As reported in the news.

juan guaido: The comments come amid worsening tensions in the country after the US and UK have backed Juan Guaido, who appointed himself interim president of Venezuela as hundreds of thousands marched to support him, according to The Independent. European leaders are calling for free and fair elections. Former special rapporteur Alfred de Zayas, who finished his term at the UN in March, has criticized the US for engaging in economic warfare against Venezuela which he said is hurting the economy and killing Venezuelans. Russia and Turkey remain Nicolas Maduro's key supporters. He said that since its presentation the report has been ignored by the UN and has not sparked the public debate he believes it deserves. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial Mr De Zayas, a former secretary of the UN Human Rights Council HRC and an expert in international law, spoke to The Independent following the presentation of his Venezuela report to the HRC in September. (news.financializer.com). As reported in the news.

barometer: Courtaulds, which in the 1970s was the world's largest textile manufacturer, was an early casualty, according to The Guardian. Gone, too, are ICI, Plessey, Ferranti and Pilkington. When it launched in 1984 it was a true barometer of UK commercial and industrial talent, but now only 30 of the original names remain intact. Other countries have maintained industrial giants and developed technological powerhouses. The S&P 500 in the US includes Microsoft, Apple, Amazon and Boeing. The DAX index in Germany contains Bayer, BASF, Continental, Siemens, Thyssen Krupp and Volkswagen. (news.financializer.com). As reported in the news.

coal mine: Just a few miles away is the site of Britain's last deep coal mine, Kellingley Colliery, which, like the power station that burnt its coal, went out of production in 2015, with the loss of 450 jobs, according to The Guardian. The local MP, Labour's Yvette Cooper, led lengthy campaigns to save both. In their 1970s heyday these great symbols of West Yorkshire's industrial might employed 850 workers. She sought investors and EU state aid, met ministers and executives and fought for fair redundancy packages and skills training for those affected. The towers of Ferrybridge are now earmarked for demolition. But the campaigns to keep the power station and pit going were ultimately doomed. (news.financializer.com). As reported in the news.

market capitalization: In January 2018, ICBC took over US-based global financial services and investment management firm Morgan Stanley to become the world's largest bank in terms of market capitalization, according to Global Times China. ICBC's A-share price hit a record high of 7.54 yuan 1.18 on January 23, 2018, sending its market capitalization to 407.3 billion. Yi, 55, has been with ICBC for more than 30 years, and was appointed chairman in May 2016. ICBC achieved a net profit of 241.12 billion yuan in the first three quarters of last year, a year-on-year increase of 4.82 percent. In 2017, 478 new investigations were launched, and 312 new case filed, including 90 major, a two-fold rise year-on-year. Liu Shiyu was appointed head of CSRC in February, 2016, vowing to enhance supervision. (news.financializer.com). As reported in the news.

minds subscription: The research from the Centre for European Reform estimates the UK economy is 2.3 per cent smaller than it would have been had Britain voted to remain in the EU back in 2016, according to The Independent. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial Watch more Tory Eurosceptics are playing games with Theresa May's Brexit deal The think tank calculated that the reduced GDP would limit the Treasury's spending power by 17bn a year, or 320m per week around the amount promised for the NHS by the Leave campaign on the side of its touring bus. The amount would be sufficient to pay 10,000 more police to patrol the streets and train nurses to fill every vacancy in England, and still leave enough to cover the UK's current contribution to the EU's budget. On Tuesday MPs will attempt to break the Brexit deadlock in a series of votes that could hand parliament more power to control the next phase of Brexit, though the signs are that the impasse and uncertainty may go on for weeks. Deputy director John Springford said Britain's decision to leave the EU damaged growth, largely thanks to higher inflation and lower business investment. But the CER's research indicates that whatever route is chosen, Brexit has already taken a heavy toll on the British economy. (news.financializer.com). As reported in the news.

shutdown: Wall Street isn't banking on another huge gain in hiring in January that matches the flush of 312,000 new jobs last month, according to Market Watch. But it's not because of the partial government shutdown. The U.S. economy produced 2.6 million new jobs in 2018, the most in three years. The roughly 800,000 federal workers who were furloughed or forced to work without wages during the 35-day shutdown are due to receive all their back pay soon. Investors are still expecting a big dropoff, however. As a result, they were considered part of the workforce in January under Labor Department guidelines. (news.financializer.com). As reported in the news.

variables china: It's a strategic shift, and at a moment where the United States is pulling back, China has a lot of opportunities to make its power felt. ; Part of China's rise in the international body is a direct result of its growing financial prosperity, according to The Japan Times. In the calculation of each nation's funding obligations for the U.N. budget from 2019-2021 an assessment that factors in gross national income, debt adjustments and other variables China has come out ahead of Japan as the second-largest contributor, behind only the United States. China has become much more eager to assert itself and look like a leader in the U.N. system, said Richard Gowan, a senior fellow at the United Nations University, said. China's increased financing of both the general operating budget and international peacekeeping missions gives it additional clout, while Tokyo has slipped to the third spot in general funding for the first time since the 1980s. Japan's share is down to 8.56 percent from 9.68 percent previously. Beijing now contributes 12.01 percent of the general budget, up from 7.92 percent in the previous three-year period. (news.financializer.com). As reported in the news.

year china: The remarks came as Li had a discussion with some foreign experts working in China at the Great Hall of the People in downtown Beijing prior to the Chinese Lunar New Year, which falls on Feb. 5 this year, according to Global Times China. China's economy has enough resilience, potential and ample room for growth, especially with a huge domestic market and rich human resources of nearly 1.4 billion people, therefore, we are fully confident and capable of keeping economic growth rate within an appropriate range in spite of multiple risks and challenges in 2019, Li told foreign experts. Xinhua/Yao Dawei Chinese Premier Li Keqiang said Friday that the country has full confidence and capability to keep economic growth rate within an appropriate range in 2019 despite challenges. China's economy, the world's second largest, grew 6.6 percent year on year to reach 90.0309 trillion yuan about 13.28 trillion U.S. dollars in 2018, above the official target of around 6.5 percent, according to data issued by the National Bureau of Statistics on Monday. China will forge ahead with reforms unswervingly and inspire the vitality and creativity of some 100 million market entities, Li said. The growth rate of 6.6 precent is hard-won, as it is on the basis of China's very high economic output, fairly sufficient employment and continuous improvement of environment, said Li. (news.financializer.com). As reported in the news.

mining regions: Germany, which gets more than a third of its electricity from burning coal, appointed a 28-member panel, representing mining regions, utility companies, scientists and environmentalists, according to The Toronto Star. FEDERICO GAMBARINI / AFP/GETTY IMAGES file photo We made it, Ronald Pofalla, the head of the commission, told reporters in Berlin. The so-called Coal Commission reached agreement in the early hours of Saturday, following months of wrangling that were closely watched by other coal-dependent countries. This is a historic effort. The 28-member panel, representing mining regions, utility companies, scientists and environmentalists, suggests a review in 2032 could bring forward the deadline to 2035. Germany gets more than a third of its electricity from burning coal, generating large amounts of greenhouse gases that contribute to global warming. (news.financializer.com). As reported in the news.

day kathmandu: On its 15-day Kathmandu to Delhi trip, guests stay at Madi Valley homestay, which it helped set up with WWF from G Adventures Facebook Twitter Pinterest Female-only chauffeur service in New Delhi This Canadian adventure firm works with social enterprises and NGOs across the globe through the Planeterra Foundation, according to The Guardian. It uses small, locally owned companies, helps develop community-based rural tourism projects and has a ripple score for each trip, evaluating what percentage of expenditure stays in the local economy. The first company to drop elephant rides from its trips, Intrepid is a leader on child protection, uses local guides and aims to double female tour leader numbers by 2020. In India it supports Women on Wheels female-only chauffeurs and last year partnered with Wiwa Tours in Colombia, the region's first indigenous-run Much Better Adventures Facebook Twitter Pinterest The Vjosa, one of Europe's last wild, free-flowing rivers. It works with charity Cool Earth, a leader in addressing climate change and its Adventures for Good collection was developed with Tourism Concern. Photograph Alamy With a focus on short trips in Europe and a strong responsible travel ethic, this company ensures at least 80% of the cost of a trip goes into the local economy and conservation projects. (news.financializer.com). As reported in the news.

mccallum: McCallum, Canada's former ambassador to China, on January 24, 2019, walked back comments that Huawei executive Meng Wanzhou has a strong case against extradition to the United States, following a political backlash, according to The Toronto Star. ALICE CHICHE / AFP/GETTY IMAGES file photo That was after Star Metro published an interview with McCallum in Vancouver in which he said that it would be great for Canada if the United States relinquishes its attempt to extradite Huawei's chief financial officer. In a statement released Saturday afternoon, Trudeau said he demanded McCallum's resignation on Friday night. According to a senior government source, Trudeau had spoken to McCallum earlier in the week after he misspoke and told Chinese language reporters about the government's view of the Meng case. Article Continued Below Government officials had initially suggested McCallum was more forthright than expected in his comments outlining the view that Meng had strong legal arguments to fight extradition, but Trudeau did not, at first, repudiate his comments. Trudeau asked McCallum explicitly to stop speaking about it but was prepared to stand by his ambassador in the face of Conservative calls that he should be fired. (news.financializer.com). As reported in the news.

pipeline: Jonathan Hayward / THE CANADIAN PRESS file photo Clearly, the federal government should have had the National Energy Board conduct a far more in-depth review of its overall environmental impact prior to purchasing the pipeline, according to The Toronto Star. Not only did the NEB not consider the added greenhouse gas emissions that would result from the project, but also the effect of chronic oil spills that could potentially do greater damage to the environment than large oil spills, according to the Raincoast Conservation Foundation and the National Research Council. The Trans Mountain pipeline company told the National Energy Board this month there is no new evidence that would prevent its expansion project to move more Alberta oil through British Columbia to overseas markets. In addition, Trans Mountain boldly promises that disrupted environments as a result of the expansion will be returned to their pre-construction function; however, whether this standard is even possible to meet has yet to be evaluated. Article Continued Below The oil industry will decline heavily in the next couple of decades as the world transitions to renewable energy sources, and thus, I believe that it would be unwise to further invest in the expansion of the pipeline. It is clear that the economic benefits of the pipeline expansion do not outweigh the numerous potential and inevitable environmental issues, such as increased tanker traffic leading to the deaths of more Southern resident killer whales. (news.financializer.com). As reported in the news.

recording artist: BBC America, AMC, IFC and Sundance Amanda Seales I Be Knowin' The actress, comic and recording artist featured in the HBO series Insecure, in her first comedy special, filmed at the Edison Ballroom in New York. 10 p.m, according to MSNBC. HBOBook Club Four veteran Oscar- and Emmy-winning actresses star in director and co-writer Bill Holderman's 2018 romantic comedy about four friends Diane Keaton, Jane Fonda, Candice Bergen and Mary Steenburgen who read Fifty Shades of Grey for their book club and start to consider changing some aspects of their personal relationships. NBCPlanet Earth Dynasties An animal power struggle in Senegal, West Africa, drives a fascinating new episode about chimpanzees. 9 p.m. Don Johnson, Craig T. Nelson and Richard Dreyfuss also star. 8 p.m. Hallmark Love You to Death Based on a true story, this 2018 crime drama stars Marcia Gay Harden as Camile, a loving mother and doting caregiver to her wheelchair-bound daughter, Esme Emily Skeggs . The community is stunned when the family falls victim to horrific crime. EPIXSnowcoming A cookbook editor who is an advocate for adult literacy Lindy Booth returns home for an annual winter festival, where her father Ed Marinaro is retiring and being honored for his long career as the local high school football coach, an event that leads to a reunion with her old flame Jake Trevor Donovan who is now a professional quarterback, in this 2019 romance. 8 p.m. (news.financializer.com). As reported in the news.

benchmarks fare: How did the benchmarks fare The Dow DJIA, 0.75% climbed 183.96 points, or 0.8%, to end at 24,737.20, according to Market Watch. The blue-chip index edged up 0.1% for the week, extending gains for a fifth week in a row. A deal reached by President Donald Trump and congressional Democrats to at least temporarily reopen the government had little impact on stocks. The S&P 500 SPX, 0.85% rose 22.43 points, or 0.9%, to 2,664.76, down 0.2% on the week. Trump and Democratic congressional leaders came to a surprise agreement to reopen the government until Feb. 15, for now ending a 35-day partial shutdown, while lawmakers continue to debate funding for an extension of the southern border wall. The Nasdaq Composite COMP, 1.29% climbed 91.40 points, or 1.3%, to 7,164.86, for a weekly rise of 0.1%. What drove the market Optimism over what has been so far an upbeat earnings season drove stocks higher, allowing investors to look past divisions in Washington and concerns over global growth. (news.financializer.com). As reported in the news.

anger: The bitterness of that campaign, which so divided the country and communities, has not gone away, according to The Guardian. But the reason it continues to fuel such anger is that it struck a chord with communities who for too long have felt held back by a political class that has too often taken them for granted, and an economic system that works against them. Nearly three years after the UK voted to end its 40-year membership of the European Union, in the biggest democratic exercise in a generation, the debate continues to rage. Tell us have you changed your mind about Brexit Read more The truth is that much of Britain was on its knees long before membership of the EU was put to the voters in 2016, with austerity, poverty and lack of investment ravaging our country. As if losing the reason for their very being wasn't enough, decades of neglect and the march of technology entrenched the rot. In the last years of the 20th century, hundreds of cities, towns and villages saw the industries around which they had flourished disappear. (news.financializer.com). As reported in the news.

executives managers: Let's look at what Wolf said His chief challenge is to the mantra generally attributed to free-market economist Milton Friedman that the first and only obligation of a corporation is to maximize shareholder value, according to Market Watch. Friedman argued that the obligation of a business is not to its employees nor to its executives and managers not to its customers, not to its suppliers, and certainly not to society at large. I want to go beyond that column to argue that we must rethink the purpose of investment. Its only obligation is to seek to maximize the market value of its shares that is, the profit accruing to its shareholders. Profit is a condition for and result of achieving a purpose. Wolf argues in opposition to this mantra that Profit is not itself a business purpose. (news.financializer.com). As reported in the news.

chancay harbor: After the acquisition, Terminales Portuarios Chancay SA will become the first terminal project controlled by China COSCO Shipping Corp -- the parent company of Hong Kong-headquartered COSCO Shipping Ports -- in South America, as well as the group's second greenfield port project invested overseas, the newspaper reported, according to Global Times China. Volcan, the Peruvian polymetallic miner, is engaged in the exploration and production of zinc, copper, gold, silver and lead in Peru's Sierra Central region. With an initial payment of 56 million US dollars, the deal was sealed in Davos Switzerland on Wednesday, according to the company. Located at Chancay Harbor in central Peru, about 58 kilometers from the country's capital Lima, Chancay terminal boasts an exceptional geographic location and is conveniently connected with the economic center of Peru. (news.financializer.com). As reported in the news.

deng xiaoping: This year also marks the 30th anniversary of the Tiananmen massacre, according to The Japan Times. At least 10,000 people were killed in the tank and machine-gun assault ordered by Deng Xiaoping and his henchmen on pro-democracy demonstrators at Beijing's Tiananmen Square. ; The massacre happened because the Communist Party never abandoned its heavy reliance on raw power since the blood-soaked Mao Zedong era, during which tens of millions of Chinese died in the so-called Great Leap Forward, Cultural Revolution and other state-induced disasters. China's slowing economy, an international geopolitical pushback against its overweening ambitions, new trade disruptions and tariffs, and President Xi Jinping's centralization of power, have created a jittery mood among the country's elites. Although China has come a long way since Tiananmen, with its citizens now more prosperous, mobile and digitally connected, the political system remains as repressive as ever. Under Xi, the party has set out to systematically decimate Muslim, Tibetan and Mongol identities, expand China's frontiers far out into international waters and turn the country into a digital totalitarian state. Indeed, today's China is increasingly oriented to the primacy of a party responsible for the past pogroms and witch hunts and ongoing excesses. (news.financializer.com). As reported in the news.

ecrl contract: He said this was one way to address the problem, according to Global Times China. If we do so, we will need to pay billions in compensation, according to the report. Prime Minister Mahathir Mohamad said on Friday that he was not aware of any decision to cancel the ECRL contract with China Communications Construction Company CCCC refuting a recent report by Singapore-based Strait Times, according to a report from Free Malaysia Today on Thursday. A person close to CCCC told the Global Times on Friday that the project was temporarily halted, and the two sides are still discussing the project. The decision was hard to make, since even the compensation amount is not a small one for the country, not to mention the amount for the project construction, Xu said. Xu Liping, a senior research fellow at the Chinese Academy of Social Sciences, told the Global Times on Friday that the long-halted project was largely due to the unsatisfactory financial conditions in the country. (news.financializer.com). As reported in the news.

futures-linked stock: On Thursday, the key market gauge closed 19.09 points lower. ; The Topix index of all first-section issues closed up 13.50 points, or 0.87 percent, at 1,566.10, according to The Japan Times. It gained 5.57 points the previous day. The 225-issue Nikkei average soared 198.93 points, or 0.97 percent, to end at 20,773.56 on the Tokyo Stock Exchange. Heavy purchases were seen for Tokyo Electron and other semiconductor-related issues following their U.S. counterparts' robust performances Thursday, market sources said. Hiroaki Kuramochi, chief market analyst at Saxo Bank Securities Ltd., expressed his view that the dollar's firmness versus the yen prompted futures-linked stock buying and purchases of export-oriented names. Japanese chip-linked names attracted buybacks after their recent falls, an official at a bank-linked securities firm said. (news.financializer.com). As reported in the news.