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

points monday: It slumped 10.59 points Monday, according to The Japan Times. The TSE opened lower after Wall Street turned down Monday following weak guidance from U.S. construction and mining equipment maker Caterpillar and chipmaker Nvidia. The Nikkei 225 average edged up 15.64 points, or 0.08 percent, to finish at 20,664.64 after falling 124.56 points Monday. ; The Topix, which covers all first-section issues on the Tokyo Stock Exchange, was up 1.58 points, or 0.10 percent, at 1,557.09. But both the Nikkei and the Topix erased their early losses in the afternoon, aided by dip buying, as well as speculation of ETF purchases by the BOJ, brokers said. In New York on Monday, Caterpillar and Nvidia came under heavy selling due to their earnings warnings partly reflecting the deceleration in the pace of China's economic growth. Today's Tokyo market almost mirrored what happened in New York yesterday in terms of the selection of shares to trade, an official of a Japanese brokerage firm said, pointing to the weakness of electronic parts and construction machinery makers. (news.financializer.com). As reported in the news.

china securities: The Shanghai Composite Index fell 0.11 percent to 2,594.25 points, according to Global Times China. The Shenzhen Component Index fell 0.5 percent to 7,551.30 points. Investors were indifferent to the release of certain positive news in China in recent days. About 60 stocks fell by their daily trading limit of 10 percent. This positive news included the change of leadership at the China Securities Regulatory Commission. The markets showed no sign of a rebound despite positive news. (news.financializer.com). As reported in the news.

consumer spirits: The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 120.2 in January, down from 126.6 in December and the lowest level since July 2017. ; The index measures consumers' assessment of current economic conditions and their expectations for the next six months, according to The Japan Times. Both declined in January. Still, consumer spirits remain robust by historic standards. Consumers' expectations for the future dropped to the lowest point since October 2016. The shutdown is expected to cause slight permanent harm to the economy about 3 billion according to a new government report. The government reopened Monday after the 35-day shutdown, the longest federal closure in U.S. history. (news.financializer.com). As reported in the news.

party spirit: Sales growth was driven by its Republic of Ireland operations, where like-for-like sales rose by 7.5%. Domino's particularly benefited from days when Britons had reason for a big night in, according to The Independent. It credited the final of the BBC's Strictly Come Dancing on Saturday 15 December for a new online record, with sales up by a quarter compared to the same day the year before. The strong run-up to Christmas helped group sales to rise by 5.5% year on year to 339.5m in the 13 weeks to 30 December, it said in a trading update published on Tuesday. The overall sales record came on the Friday before Christmas, 21 December, the day traditionally known as Mad Friday or Black Eye Friday for revellers getting into the festive party spirit. However, the FTSE 250-listed company's efforts to expand to new markets after fast UK growth stumbled during the quarter. Though the record Domino's sales that day suggests people may be staying home more now. (news.financializer.com). As reported in the news.

report: During the conference, a report named Development of China's Outward Investment for 2018 was also released, which serves as a guideline for Chinese companies who go overseas, according to Global Times China. The report noted that there is a huge investment potential in countries under the China-proposed Belt and Road initiative BRI supported by a series of preferential policies. China's outbound direct investment ODI in nonfinancial sectors rose by 4.2 percent year-on-year to 129.83 billion in 2018, which maintained a stable growth rate, said Han Yong, a deputy head of the outward investment and economic cooperation department under the MOFCOM, at a press conference. The report predicted that China's foreign investment structure will be further optimized, with the service sector expected to become the new engine of China's ODI. ODI in countries along the BRI routes climbed 8.9 percent to 15.64 billion in 2018, accounting for 13 percent of the total, MOFCOM data showed. Global Times China is accelerating its efforts of transforming from a big ODI country in terms of size, to one that features high-quality investments, said the report. (news.financializer.com). As reported in the news.

getty images: Paul Yeung / Bloomberg via Getty Images Breaking News Emails Get breaking news alerts and special reports, according to MSNBC. The news and stories that matter, delivered weekday mornings.SUBSCRIBEJan. 29, 2019, 12 25 PM GMTBy Alyssa NewcombSAN FRANCISCO Investors are bracing themselves today for the disappointing results that Apple's Chief Executive Officer Tim Cook warned about. The Apple store on the Cotai strip in Macau, China, on Jan. 17, 2019. Cook dropped a bombshell earlier this month when he downgraded the company's forecast, projecting lackluster earnings for its first quarter 2019 results, which will be released on Tuesday afternoon. In a Jan. 2 letter to investors, Cook said unexpected slowing sales in emerging markets was partly the reason for the decline. Wall Street is expecting Apple to report revenue of 84 billion, down from the forecasted 89 billion to 93 billion guidance issued in the company's last earnings call. (news.financializer.com). As reported in the news.

metre elevator: Marites Fortaliza had to be taken to hospital after becoming stuck in the enclosed, 1x1.2 metre elevator when it broke down between the second and third floor, according to Nine News Australia. The 53-year-old had been tending to the empty house on Friday evening, while the owner, billionaire investor Warren Stephens, was on an extended business trip. To improve your experience update it here News World Housekeeper hospitalised after lift breaks down in billionaire's town house By Tom Livingstone Associate Producer3 03pm Jan 29, 2019Facebook Tweet MailA New York housekeeper suffered the nightmare situation of being trapped in the lift of her employer's town house the entire weekend. Marites Fortaliza was working at the East 65th multi-million dollar town house when she became trapped in a broken down elevator. A courier arrived at the East 65th Street Manhattan property, near Central Park, and called Mr Stephens who asked his daughter, Laura to drop by and check why nobody answered the door. Google Maps Ms Fortaliza, who has worked for the Stephens family for over 18 years, was not freed until 10am Monday morning, more than 60 hours after first becoming trapped. (news.financializer.com). As reported in the news.

plant: The tax break will also be lifted immediately to cover assets worth up to 25,000, up from 20,000, Prime Minister Scott Morrison announced today, according to Nine News Australia. Businesses who go out and invest today, whether it's a vehicle, whether it's a piece of plant or equipment, all of it, up to 25,000 immediate write down, he said in Brisbane. To improve your experience update it here News National Tax breaks for small businesses extended as pre-election campaigning steps up By 9News Staff8 25pm Jan 29, businesses will get an extra tax break with the Morrison government again extending the instant asset write-off to mid-2020. Scott Morrison has extended a tax break for small businesses for another year. This is the third year-long extension to the measure, which was set to finish at the end of the current financial year. AAP We are so serious about small and family businesses and we have put our money where our mouth is. (news.financializer.com). As reported in the news.

senate: The annual report by Dan Coats, director of US national intelligence, to the US Senate also notes the election of President Donald Trump has resulted in US allies and partners seeking greater independence from Washington in response to their perceptions of changing US policies on security and trade . China and Russia dominate the 42-page report, with threats from the two nations expected to expand and diversify as they compete with the US and its allies and partners, according to Nine News Australia. American alliances, the 2020 US presidential election, policy outcomes and democratic institutions around the world are expected to be targeted by China and Russia. To improve your experience update it here News World China bribing Pacific nations US report By AAP9 47am Jan 30, 2019Facebook Tweet MailA new US intelligence worldwide threat assessment accuses China of currying favour with Pacific Island nations through bribery, infrastructure investments and diplomatic engagement and eyeing the construction of military and other facilities in the region. China is currying favour with numerous Pacific Island nations through bribery, infrastructure investments, and diplomatic engagement with local leaders while intervening in Burma, including by shielding Burma from United Nations Security Council sanctions in response to the humanitarian crisis and alleged ethnic cleansing in Rakhine State, the US Intelligence Community's Worldwide Threat Assessment report states. Related Articles Former deputy Duke J Pierson dies before he could be arrested over cold case murders Aust ranks second in shark attacks Evidence against El Chapo 'overwhelming'China, the US believes, will attempt to foster a shared perception with Asian nations that US freedom of navigation through Chinese-claimed waters in the South China Sea is a threat to regional stability. China built its first overseas military facility in the African nation of Djibouti and probably is exploring bases, support facilities, or access agreements in Africa, Europe, Oceania, Southeast Asia, and South Asia . The US expects democracy and civil liberties to remain fragile in many Southeast Asian nations and China to increase its engagement and influence in the region. (news.financializer.com). As reported in the news.

tailings dam: Rescue teams had by Monday recovered 60 bodies near the site, which is operated by Vale, one of the world's biggest mining companies, but hundreds of people are still missing, according to The Guardian. Many were eating lunch or resting in a hotel when the tailings dam collapsed and swept them away in a tide of orange sludge. The torrent of mud and iron ore tailings that engulfed the community of Brumadinho on Friday continues to inflict a toll on residents, river systems and freshwater species. It is the second such calamity to strike a Vale facility in the state of Minas Gerais in less than four years. Jair Bolsonaro launches assault on Amazon rainforest protections Read more The amount of slurry this time is 75% lower, at 13 million cubic metres, but now, as then, the ecological damage is spreading far beyond the immediate area and could potentially persist for many years with grave consequences for local communities, wildlife and the national economy. In 2015, 19 people were killed when a tailings dam burst at an iron ore mine in Mariana that the Brazilian company co-owned with the London-listed BHP Group. (news.financializer.com). As reported in the news.

boat operator: The boat operator, dressed in orange jumpsuit, shrugs and complies, according to The Independent. Two more guys emerge from the hold. Sirens on, the joint Italian-Albanian coast guard zodiacs precariously sidle up alongside, demanding to be let aboard to search the boat's interior for contraband. Once, finding drugs bound for the rest of the Europe inside the boats trawling the sea was simple just look for the huge bales of cannabis stashed in the cargo hold. Instead, it only convinced the traffickers to graduate into a more lucrative and deadly game. But several years ago, the Albanian authorities launched an aggressive eradication effort in the countryside of the small, poor Balkan state, hoping that destroying the cannabis fields and arresting some of the growers would decrease the power of the traffickers, rid the country of its pariah status, and help ease its entry into the European Union. (news.financializer.com). As reported in the news.

digits percentage-wise: In contrast, the stock market over the last century has tended to struggle whenever earnings growing rates were at or near record levels like they were last year, according to Market Watch. To contrarians, of course, this is not a new insight. That's because the stock market typically performs the best when EPS growth rates are in the low single digits percentage-wise or even negative. But, for the rest of us, it's especially worth remembering now, given that this week marks the high point of the current quarter's earnings season. Take a look at the accompanying chart, which reflects data from Ned Davis Research. Naive investors are hoping for faster earnings growth, without realizing that such growth doesn't automatically or even usually translate into a higher stock market. (news.financializer.com). As reported in the news.

indian youth: This isn't good news for China, according to Global Times China. More than one year after the military standoff in Doklam, which plunged China-India relations to their lowest point in decades, bilateral ties are on the upswing. Modi is facing growing discontent as people question whether his reforms can create enough jobs for Indian youth. India has a weak central government and diverse population. But how can Modi improve his image While India is eager to attract foreign investment to prop up the economy and employment, the public has complex emotions toward Chinese companies' success in the country. We hope Modi can improve his public standing so that he can consolidate sufficient power to push forward reform and Sino-India economic cooperation as bilateral relations warm up. (news.financializer.com). As reported in the news.

elizabeth pineda: A retired secretary, Pineda survives on a monthly pension of just 18,000 bolivars, or about 6, according to The Japan Times. She supplements her income working as an astrologer, and although the stars have been telling her Venezuelans are on the road to ridding themselves of socialist President Nicolas Maduro, she doesn't expect him to go quickly or quietly. ; The government is going to strangle us even more with their bad decisions and shamelessness, Pineda said while sharing a bowl of beef soup with two friends, none of whom can afford the 1.50 meal on their own. But as Elizabeth Pineda was stocking up on staples Sunday at a sidewalk market near a Caracas slum, she was bracing for things to get a lot worse, not better. Economists agree that the longer the standoff between the U.S.-backed Guaido and Maduro drags on, the more regular Venezuelans are likely to suffer. The high-risk and seldom-used strategy of recognizing an alternative government that doesn't already have de facto power is tantamount to blocking Maduro's access to Venezuela's all-important oil revenue, with enormous legal and financial entanglements. Maduro, who so far appears to have the backing of the decisive military, has dug in, accusing the U.S. of orchestrating a coup by encouraging Guaido to declare himself interim president and then leading a chorus of nations that immediately recognized his rule. (news.financializer.com). As reported in the news.

gr ie: Yet scientists believe it is one of the top two nations that will suffer most from tropical storms and floods, 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 And activists say the funding is driving up numbers of animals in deplorable conditions. Food and farming giants are investing in a rapid expansion of intensive animal agriculture in the south Asian country, the researchers said. Some cows have been filmed lying on concrete floors with chains around their necks so short they can barely move. High-profile advertising campaigns have tried to stress the benefits of dairy products. Companies and food groups in the US, Switzerland, Australia and New Zealand are changing Sri Lanka's eating habits, the study by the Moving Animals group found. (news.financializer.com). As reported in the news.

market committee: But no event has more market-moving potential than the Fed's policy meeting, with investors set to parse Chairman Jerome Powell's remarks for further clues on how the central bank will navigate an economy in transition, according to Market Watch. Read Fed to stress patience and that means no interest-rate move until at least June The Federal Open Market Committee will convene its two-day meeting on Tuesday with the market largely expecting the central bank to hold steady on rates. The final days of January will likely be action packed for stock-market investors as the Federal Reserve, corporate earnings, and politics all converge to create a volatile backdrop for trading. However, it's not the action so much but the message that investors will be focusing on. Markets are now pricing in little chance of rate hikes for the remainder of the year. Since the Fed's December meeting, comments from Powell and other Fed members have served to reassure investors, reiterating that further rate increases will be data-dependent and that policy makers are willing to be patient and flexible, said Mark Haefele, chief investment officer for UBS Global Wealth Management, in a note. (news.financializer.com). As reported in the news.

market: As of closing time, the Shanghai Composite Index slipped by 0.18 percent to 2,596.98 points, while the Shenzhen Component Index fell by 0.08 percent to 7,589.58 points, according to Global Times China. The two markets had a promising start in the morning, with the Shanghai market up 0.32 percent and the Shenzhen market up 0.57 percent by the end of the morning session. Photo VCG On the first trading day for the domestic securities market after the change of the head at the China Securities Regulatory Commission CSRC A shares had an auspicious start in the morning session but fell slightly in the afternoon. The A-share markets got off to a flying start after Yi Huiman, the former chairman of Industrial and Commercial Bank of China, took office as the new head of the CSRC, replacing Liu Shiyu. When the news of the CSRC head change first came out several days ago, there was a positive mood in the market. Liu's new position is deputy Party secretary of the All China Federation of Supply and Marketing Cooperatives, according to the official website of the federation. (news.financializer.com). As reported in the news.

cuts: Local authority spending has fallen nationally by half since 2010, with areas such as Liverpool, Blackburn and Barnsley facing average cuts twice that of their counterparts in the more affluent south, according to the thinktank, according to The Guardian. The report suggests there is a city and country divide, with urban council areas having shouldered cuts to services such as street cleaning, road repairs and libraries, which, are, on average, twice as deep as those borne by leafier authorities. The Centre for Cities thinktank study shows that the poorest areas have borne the brunt of council spending cuts. The Centre for Cities said the Treasury review of public spending due this autumn must find extra funding for all councils, and for urban areas in particular, if authorities are to remain sustainable in the face of soaring demand for social care. Fairer funding must mean more funding for cities. Map Andrew Carter, the chief executive of Centre for Cities, said Councils have managed as best they can but the continued singling out of local government for cuts cannot continue. (news.financializer.com). As reported in the news.

british chambers: The warnings emerged after the British Chambers of Commerce said that thousands of the firms it represented had already triggered contingency plans for a no-deal Brexit, including plans to move operations out of the UK. James Stewart, the head of Brexit at accountancy firm KPMG, said Many of the businesses we're speaking to are praying for an extension to article 50 hoping for a delay to the self-imposed 29 March deadline for Britain to leave the EU. He said that nearly all larger firms were now preparing for Brexit, but were at very different points in implementing no-deal plans, according to The Guardian. At this stage even our most-informed clients feel as if anything could happen, he said. The Confederation of British Industry said that firms' reported growth prospects were at their weakest for almost six years, while other research shows the number of acquisitions of UK companies by foreign buyers is falling 11% year on year. They're thinking about getting products from A to B, market access and staffing up situation rooms for April. The CBI said the private sector was stuck in neutral with zero growth in aggregate in the last quarter on its survey of British firms across the distribution, manufacturing and service sectors. Forecasting the outcome of Brexit is a bit like trying to predict a greyhound race; there are no safe bets. (news.financializer.com). As reported in the news.

european union: With less than nine weeks until the United Kingdom is due by law to leave the European Union on March 29, there is no agreement yet in London on how and even whether to leave the world's biggest trading bloc, according to Nine News Australia. Parliament defeated May's deal two weeks ago by a huge margin with many Brexit-supporting rebels in her party angry at the Irish backstop, an insurance policy aimed at preventing a hard border in Ireland if no other solutions can be agreed. To improve your experience update it here News World Boris Johnson says ditch Irish backstop By AAP6 56pm Jan 28, Johnson, the most prominent Brexit campaigner in Prime Minister Theresa May's Conservative party says she would get widespread support if she got the European Union to ditch the Irish backstop. The PM wants to get rid of the backstop, Boris Johnson wrote in the Daily Telegraph, saying May could insert a Freedom Clause to allow the United Kingdom to get out of the backstop without the agreement of the EU. If the PM secures that change - a proper UK-sized perforation in the fabric of the backstop itself - I have no doubt that she will have the whole country full-throatedly behind her, the former foreign secretary said. On January 29, parliament will debate May's proposed next steps as well as alternative plans put forward by lawmakers, including some that seek to delay Britain's exit by requesting an extension to the Article 50 negotiation period. He said very senior sources in the government had told him that May would seek binding legal changes to the deal she agreed in November with the EU. Ireland has said it doesn't want any changes to the backstop. (news.financializer.com). As reported in the news.

impact: According to the CBO, the shutdown hurt economic growth because it affected roughly 800,000 workers and delayed federal spending on goods and services, according to The Guardian. Sign up for the US morning briefing Much of the money will be recouped now the government is open again but the CBO calculates 3bn will never be recovered and the full impact of the closure which left hundreds of thousands of federal workers and contractors without pay may be larger. The shutdown triggered by a fight over funding for Donald Trump's proposed border wall with Mexico ended on Friday and was the longest in US history. The CBO warned all of the estimated effects and their timing are subject to considerable uncertainty . End of shutdown workers left with debts, bad credit and shattered trust Read more The five-week shutdown delayed approximately 18bn in federal discretionary spending for compensation and purchases of goods and services and suspended some federal services. CBO's estimates do not incorporate other, more indirect negative effects of the shutdown, which are more difficult to quantify but were probably becoming more significant as it continued, the report said. As a result of the delay in wages and spending, the CBO expects the level of gross domestic product GDP the broadest measure of economic growth to fall by 0.2% in the first quarter of the year. (news.financializer.com). As reported in the news.

nordic countries: The Arctic Frontiers conference is regarded as one of the most important meetings on Arctic issues, according to Global Times China. Once a year, political leaders, business executives and other key policymakers from all over the world gather in this northern city of Norway to discuss Arctic affairs. Photo IC China is proceeding cautiously and in an orderly way on Arctic affairs, Yang Jian, vice president of Shanghai Institutes for International Studies, told the Global Times during the 13th Arctic Frontiers conference held in Troms Norway from January 20 to 24, adding that Nordic countries are looking forward to Arctic cooperation with China. China has been an active participant in the governance of the Arctic. In January 2018, Beijing published a white paper on its Arctic policy, pledging cooperation in governance and elaborating a vision of Polar Silk Road . According to the white paper, China would like to jointly understand, protect, develop and participate in the governance of the Arctic, and advance Arctic-related cooperation under the Belt and Road initiative. It achieved observer status in the Arctic Council in 2013. (news.financializer.com). As reported in the news.

policy: The minutes do not identify the board members by name. ; Another member agreed, saying yields have fallen due to worries about the U.S.-Chinese trade war and that conducting market operations to raise yields would tighten monetary policy, according to The Japan Times. Yet another member said the BOJ should strengthen policy to reach its 2 percent inflation target. One member said long-term yields should be allowed to temporarily turn negative, according to minutes of the Dec. 19-20 Policy Board meeting released Monday. In contrast, a member said long-term yields need to be higher to ease the burden on the financial system and make corporate bonds more attractive to investors. Rising pressure from the trade war between China and the U.S. Japan's biggest trading partners is weighing on the economy and undermining years of efforts by policymakers to foster durable growth. This member also said revising the BOJ's government bond purchases is one future option. (news.financializer.com). As reported in the news.

stock-market rodeo: At session lows, the S&P 500 was off more than 40 points, the Dow fell over 400 points and the Nasdaq had lost 130 points, according to Market Watch. Read It's time to dismount' from this stock-market rodeo, says Morgan Stanley's Wilson What drove the market Wariness seeped in the market ahead of the Fed meeting and a huge week for earnings with 126 S&P 500 companies slated to report quarterly results. How did benchmark indexes fare The Dow Jones Industrial Average DJIA, 0.21% shed 208.98 points, or 0.8%, to end at 24,528.22, while the S&P 500 index SPX, -0.15% fell 20.91 points, or 0.8%, to 2,643.85, and the Nasdaq Composite COMP, -0.81% dropped 79.18 points, or 1.1%, to finish at 7,085.68. The central bank will convene a two-day meeting on Tuesday, with no change in key interest rates expected. Read Stock market bulls look to put faith in Fed as earnings continue to roll in Also see Why upbeat investors are counting on the Powell put,' the Trump put' and the Xi put' Earnings have swung into focus in a big way, starting with CaterpillarCAT, 1.74% whose shares skidded 9.1% after the company missed fourth-quarter earnings estimates. Attention is instead likely to focus on a news conference afterward with Fed Chairman Jerome Powell for any clues on future policy. (news.financializer.com). As reported in the news.

tokyo stocks: On Friday, the key market gauge rose 198.93 points. ; The Topix, which covers all first-section issues on the Tokyo Stock Exchange, finished 10.59 points, or 0.68 percent, lower at 1,555.51 after rising 13.50 points Monday, according to The Japan Times. It was the first drop in three market days. The Nikkei 225 average lost 124.56 points, or 0.60 percent, to end at 20,649.00. Both indexes moved in negative territory throughout the day, with market players taking a wait-and-see stance, brokers said. Tokyo stocks were also pressured by the yen's advance reflecting a recent report by The Wall Street Journal that the Fed is considering an early end to its balance sheet reduction, brokers said. Among the key overseas events are the U.S. Federal Reserve's two-day policymaking meeting starting Tuesday and ministerial-level trade talks between the United States and China in Washington on Wednesday and Thursday. (news.financializer.com). As reported in the news.

two-party-preferred basis: The result echoes the latest Guardian Essential poll, which had the Coalition trailing 47-53, with no improvement over the summer break, according to The Independent. But Tuesday's result was a slight improvement for the government since the last Newspoll in December, which had Labor leading 55% to 45% equivalent to a 21-seat loss. The ALP is ahead 53% to 47% on a two-party-preferred basis, meaning the government could lose 14 seats on a uniform swing if an election were held now, the poll published in the Australian on Tuesday shows. There is much to be read from the entrails of Australian politics leading up to the election Van Badham Read more The prime minister, Scott Morrison refused to comment directly on the results, preferring to talk up a promise to create more jobs if the Coalition were re-elected. They are the numbers that matter. I'm announcing today our pledge for 1.25m jobs over the next five years, Morrison told Nine's Today on Tuesday. (news.financializer.com). As reported in the news.