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

australia: In an interview with Guardian Australia, Bowen refused to say when he would specify the start date of the negative gearing changes, which abolish concessions for new investors buying existing properties, saying only the announcement would be made soon . Liberals will run a scare campaign, but their age of tax entitlement must end Read more But he was clear the changes would absolutely take effect in the first term of a Shorten government in the event Labor wins the contest expected in May, and not be deferred into a second term, according to The Guardian. First term, sure, absolutely. The shadow treasurer also insists the negative gearing changes Labor has proposed since 2016 will take effect in the first term of a Shorten government, and not be deferred despite the recent softening in the housing market a development that increases the political risks of the change. The only question is when in the first term. The main thing we think about with sequencing is when is the election, when would we bring down a budget, what is the legislative timetable. Bowen said there was a view in the property sector that rather than deferring the change because of the housing slowdown, the policy should be introduced sooner rather than later because certainty is king . He says he's listening to that feedback, but his principle consideration is optimising the legislative timing. (news.financializer.com). As reported in the news.

company: Athena Capital Advisors Llc who had been investing in Apple Inc for a number of months, seems to be bullish on the 731.61 billion market cap company, according to MSNBC. The stock decreased 1.04% or 1.62 during the last trading session, reaching 154.68. The hedge fund held 22,465 shares of the computer manufacturing company at the end of 2018Q3, valued at 5.07M, up from 20,021 at the end of the previous reported quarter. About 1.07 million shares traded. AAPL has risen 0.17% since January 30, 2018 and is uptrending. Apple Inc. (news.financializer.com). As reported in the news.

october-december quarter: That decline in Apple's most profitable product caused Apple's total earnings for the October-December quarter to dip slightly to 20 billion. ; Now, CEO Tim Cook is grappling with his toughest challenge since replacing co-founder Steve Jobs 7 years ago, according to The Japan Times. Even as he tries to boost iPhone sales, Cook also must prove that Apple can still thrive even if demand doesn't rebound. Results released Tuesday revealed the magnitude of the iPhone slump a 15 percent drop in revenue from the previous year. It figures to be an uphill battle, given Apple's stock has lost one-third of its value in less than four months, erasing about 370 billion in shareholder wealth. The last time that happened, the iPod was just beginning to transform the company. Cook rattled Wall Street in early January by disclosing the company had missed its own revenue projections for the first time in 15 years. (news.financializer.com). As reported in the news.

retirement pots: That might need to be financed through cuts in spending or increases in taxes, according to The Independent. The coalition government pushed through a series ofchanges that meant most public sector workers were moved to new pension schemes in 2015. One investment firm said members of public sector pension schemes could receive a massive boost to their retirement pots if the government's appeal against the court decision was unsuccessful. However, these new schemes typically offered less generous terms, prompting anger among many workers and unions. A group of judges and a group of firefighters decided to take the row to court, and on 20 December the court of appeal ruled that the transitional arrangements offered to some members amounted to unlawful discrimination. As part of the changes, the government put in place transitional arrangements which typically meant older workers could stay in the existing, more generous schemes, while younger workers had to transfer to the new schemes. (news.financializer.com). As reported in the news.

bank: HSBC, one of the world's largest banking and financial services institutions, said it will be the first foreign bank to offer futures margin depository services to overseas investors trading iron ore contracts in China, according to Global Times China. The bank received a futures margin depository bank FMDB license from the Dalian Commodity Exchange DCE on Tuesday, which is the only exchange offering iron ore futures trading in China, according to a statement HSBC sent to the Global Times on Tuesday. File photo VCG As China's financial sector continues to open up, foreign companies are betting on opportunities that will arise in the country's expanding capital market, even as the economy faces downward pressure amid its economic transformation. With the license, HSBC can help overseas traders and brokers establish settlement accounts dedicated to futures trading. The DCE said on its official website on Wednesday that HSBC is the first foreign FMDB that the exchange has recognized since it opened trading to foreign participants last year. The accounts will facilitate margin deposits through in-bank transfers, the bank said. (news.financializer.com). As reported in the news.

telecom giant: DirecTV Now is an internet-based streaming service, introduced in November 2016, that offers online customers bundles of channels at different price points, much like traditional cable TV packages, according to The Independent. The service was intended to attract price-conscious cord-cutters and perhaps persuade them to trade up to its DirecTV satellite service. The news and stories that matter, delivered weekday mornings.SUBSCRIBE Jan. 30, 2019, 6 55 PM GMT By Claire Atkinson AT&T lost 267,000 DirecTV Now customers in its fourth quarter, the telecom giant announced Wednesday, a clear indication of the challenging economics of streaming that comes just a few months before the company's planned launch of a new batch of branded streaming services. It hasn't quite worked out that way. Craig Moffett, a telecom analyst at the independent consulting firm Moffett Nathanson, voiced surprise in an investor report on Wednesday, saying AT&T had guided to subscriber losses in Q4. DirecTV has also been bleeding subscribers, losing 403,000 customers in the fourth quarter and 359,000 in the third. (news.financializer.com). As reported in the news.

wednesday morning: It could still be seen Wednesday morning parked at Maiquetia airport outside the capital. ; A Nordwind representative confirmed the plane's arrival but wouldn't comment on who chartered the plane, what it is carrying or its itinerary, according to The Japan Times. Opposition lawmaker Jose Guerra, a former central bank director, said sources inside the monetary authority informed him the plane was hired to transport 20 metric tons of gold comprising about 15 percent of the metal reserves held in Caracas. The Boeing 777 plane, with a capacity for 400 passengers, belongs to Russia's Nordwind Airlines and arrived Monday night. This needs to be taken with utmost seriousness, said Guerra in a speech to lawmakers. There was no immediate response from Maduro's government. These reserves don't belong to Calixto Ortega, they belong to Venezuela, he added, referring to the central bank's president, a close ally of Maduro. (news.financializer.com). As reported in the news.

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people: This information was not made public or divulged to key people in the decision-making process, according to The Guardian. Critics claim the offers skewed the process and are demanding the decision is overturned. Documents seen by the Guardian show the university management was aware of a proposed 20m donation offered by BHP subsequently withdrawn and 2m from BP, as it considered whether to fully divest its fortune from fossil fuels. Clive Lewis, Labour's shadow Treasury minister for sustainability and MP for Norwich South, said That one of the country's most elite educational institutions is taking oil money rather than acting on climate change demands urgent inquiry. The bitter row over whether Cambridge should divest the estimated 377m campaigners say it has invested in fossil fuels has been rumbling for years, as part of a global movement that has led to institutions and individuals globally committing to divest trillions of pounds in fossil fuels to stop catastrophic climate breakdown. They must be held to account and listen to their students and staff in divesting from fossil fuels immediately. (news.financializer.com). As reported in the news.

series ofchanges: That might need to be financed through cuts in spending or increases in taxes, according to The Guardian. The coalition government pushed through a series ofchanges that meant most public sector workers were moved to new pension schemes in 2015. One investment firm said members of public sector pension schemes could receive a massive boost to their retirement pots if the government's appeal against the court decision was unsuccessful. However, these new schemes typically offered less generous terms, prompting anger among many workers and unions. A group of judges and a group of firefighters decided to take the row to court, and on 20 December the court of appeal ruled that the transitional arrangements offered to some members amounted to unlawful discrimination. As part of the changes, the government put in place transitional arrangements which typically meant older workers could stay in the existing, more generous schemes, while younger workers had to transfer to the new schemes. (news.financializer.com). As reported in the news.

sons logan: Justice Catherine Kane's decision late Wednesday ends a six-year battle waged by Calgary mother Jennifer McCrea on behalf of about 2,000 others who will receive an average of almost 4,000 each, according to The Toronto Star. Jennifer McCrea with sons Logan, left, and Memphis in Calgary, in September. The Federal Court has approved a multimillion-dollar class-action settlement that will see Ottawa pay EI sickness benefits to as many as 2,000 new parents mostly mothers who were seriously ill during parental leave, but denied the additional money. McCrea was the class plaintiff in a multimillion-dollar class-action settlement that will see Ottawa pay EI sickness benefits to as many as 2,000 new parents, mostly mothers, who were seriously ill during parental leave and denied the extra payments. It has been quite a long journey, she told the Star. Todd Korol / Toronto Star File Photo McCrea, who was awarded an additional 10,000 as an honorarium for her efforts as class plaintiff, was very relieved that it is over. (news.financializer.com). As reported in the news.

trump: North Korea relationship is best it has ever been with U.S. No testing, getting remains, hostages returned, according to CNN. Decent chance of Denuclearization, Trump tweeted Wednesday morning. A second source agreed with that assessment. Time will tell what will happen with North Korea, but at the end of the previous administration, relationship was horrendous and very bad things were about to happen. I look forward to seeing Kim Jong Un shortly. Now a whole different story. (news.financializer.com). As reported in the news.

building: He pledged to build a wall anyway using his executive powers to declare a national emergency if necessary, according to The Toronto Star. Federal worker Chris Brinkerhoff eats his lunch in the atrium of the Ronald Reagan Building and International Trade Center in Washington. As hundreds of thousands of furloughed federal workers prepared to return to work, Trump told The Wall Street Journal that he doesn't think the negotiators will strike a deal that he'd accept. Brinkerhoff was able to return to work with the end of a partial government shutdown. The president was referring to a bipartisan committee of House and Senate lawmakers that will consider border spending as part of the legislative process. Carolyn Kaster / The Associated Press I personally think it's less than 50-50, but you have a lot of very good people on that board, Trump said in an interview Sunday with the newspaper. (news.financializer.com). As reported in the news.

ceres: In a letter jointly organised by the Farm Animal Investment Risk & Return Fairr Initiative and sustainability organisation Ceres, the fast food companies which account for more than 120,000 restaurants worldwide were censured for expanding without sufficiently mitigating their environmental impacts, according to The Guardian. If we are to meet the global climate ambitions set by the Parisagreement, and ensure the availability and sustainable management of global water resources, then global fast good brands need to take concrete action to manage supply-chain emissions and water impacts, said Heike Cosse, from Aegon Asset Management. Increasing concern that the industry is neglecting climate change and has failed to set emissions targets unlike other sectors prompted more than 80 investors representing 6.5tn 4.94tn to challenge fast food chain owners to put robust targets in place for their meat and dairy suppliers, in what could prove a landmark demand. The takeaway from investors is that those firms that fail to meet this challenge face regulatory and reputational risks that put their long-term financial sustainability under threat. In the letter, the investor coalition which also included Aviva UK advised the chains to reduce their impact on freshwater, publish time-sensitive targets and publicly announce their progress each year. BMO Global Asset Management added that the long-term value of fast food multinationals was under rising threat, citing the growing demand for plant-based food, increased environmental regulation and fears over water pollution from intensive farms. (news.financializer.com). As reported in the news.

bonus jenkins: However, Ed Brown QC, prosecuting on behalf of the Serious Fraud Office SFO said the former head of Barclays Capital, Roger Jenkins, could not care less about the bank's independence and ultimately revealed a different motivation for pushing the deal through namely a hefty bonus, according to The Independent. Jenkins, known to his colleagues as big dog had taken home 39.5m the previous year, according to the prosecution. A jury at Southwark crown court was told on Tuesday that executives pursued the capital-raising deal in order to safeguard Barclays' independence and avoid an extremely unattractive government bailout that would have restricted the bank's operations, threatened top jobs and put management pay packages under extra scrutiny. In an email sent on 24 November 2008, Jenkins questioned why the bank's bosses, including the then chief executive, John Varley, were not pushing the pay-setting remuneration committee to say we need to make a special payment for this endeavour now . It was not his job no one else in the organization or at any other bank except credit suisse did this sic Jenkins wrote in the email. His colleague Rich Ricci replied in an email Still the plan, Remco remuneration committee is Dec 9. Did it four times this year to save our arses and jobs guys you know the sell! If not what is the plan. (news.financializer.com). As reported in the news.

business desk: He is also currently in the running to acquire the collapsed entertainment chain HMV. The tycoon's latest target is the loss-making Sofa, which was put up for sale recently, according to The Independent. Ashley is thought to be keen on adding the business, which has concessions in eight House of Fraser stores, to his high street empire. The Sports Direct founder has been on a buying spree over the past year, snapping up struggling retail chains including House of Fraser and the bike specialist Evans Cycles amid a high street crisis. The maverick businessman is pitted against the stock market-listed sofa retailer ScS Group in the final round of bidding. Sign up to the daily Business Today email or follow Guardian Business on Twitter at Business Desk There can be no certainty that a transaction will be concluded and a further announcement will be made in due course, the company said in a stock exchange announcement. ScS confirmed it was in discussions regarding a potential acquisition of the business and assets of Sofa, which include nine showrooms and a website. (news.financializer.com). As reported in the news.

canada: If Canada continues to serve US political interests at the cost of harming China's and even its own in international society, the country will cause more and more global investors, including those from China, to lose their confidence in the market, they noted, according to Global Times China. Flavio Volpe, president of Canada's Automotive Parts Manufacturers' Association APMA said several Chinese automakers planning to expand production in Canada have put their plans on hold over the arrest of Huawei CFO Meng Wanzhou, according to a CBC News report in December 2018. Photo VCG It will be increasingly difficult for the Canadian auto sector to attract Chinese investment in the near future against the backdrop of heightened China-Canada diplomatic tensions over a senior executive of China's technology giant Huawei, said industry analysts. As US automaker General Motors GM decided to close a facility in Oshawa, Canada, which is a customer for the local auto parts industry, Canada needs to find a new customer - a Chinese automaker - to replace that capacity, Volpe said in the CBC report, without disclosing the Chinese automaker's name. SAIC could not be reached as of press time. Two Chinese automakers - State-owned SAIC Motor Corp and Guangzhou Automobile Group Motor Co GAC - were reportedly investigating the Canadian auto market to continue their overseas expansion. (news.financializer.com). As reported in the news.

chapter filing: But the bankruptcy was seen as a possible glimpse of the financial toll that could lie ahead as a result of global warming, which scientists say is leading to fiercer, more destructive blazes and longer fire seasons. ; In addition to leading to higher bills and smaller wildfire damages, it could jeopardize California's ambitious program to switch entirely to renewable energy sources, according to The Japan Times. PG&E cited hundreds of lawsuits from victims of fires in 2017 and 2018 when it announced earlier this month that it planned to file for bankruptcy. The Chapter 11 filing allows PG&E to continue operating while it puts its finances in order. The blazes include the U.S.'s deadliest wildfire in a century the one in November that killed at least 86 people and destroyed 15,000 homes in Paradise and surrounding communities. Last week, however, state investigators determined that the company's equipment was not to blame for a 2017 fire that killed 22 people in Northern California wine country. The cause is under investigation, but suspicion fell on PG&E after it reported power line problems nearby around the time the fire broke out. (news.financializer.com). As reported in the news.

coffee shops: Coffee shops put out signs, turning customers away, according to The Guardian. Twitter and Instagram brimmed with outrage. Gaps appeared on grocery shelves. The truly desperate searched from Williamsburg to Harlem, but it seemed undeniable New York was out of oat milk. The entire US was suffering from a shortage of Oatly, a Swedish plant milk whose rapid rise from obscure digestive health brand to the dairy alternative of choice had caught even Oatly by surprise. It wasn't just New York, in fact. (news.financializer.com). As reported in the news.

company: Reynders Mcveigh Capital Management Llc who had been investing in Apple Inc for a number of months, seems to be less bullish one the 739.27B market cap company, according to MSNBC. The stock decreased 0.93% or 1.46 during the last trading session, reaching 156.3. The institutional investor held 181,856 shares of the computer manufacturing company at the end of 2018Q3, valued at 41.05M, down from 186,141 at the end of the previous reported quarter. About 4,439 shares traded. AAPL has risen 0.17% since January 29, 2018 and is uptrending. Apple Inc. (news.financializer.com). As reported in the news.

company: Wetherby Asset Management Inc who had been investing in Comcast Corp New for a number of months, seems to be bullish on the 163.81 billion market cap company, according to MSNBC. The stock increased 1.80% or 0.64 during the last trading session, reaching 36.01. The institutional investor held 108,118 shares of the television services company at the end of 2018Q3, valued at 3.83M, up from 84,857 at the end of the previous reported quarter. About 12.62M shares traded. It has underperformed by 1.43% the S&P500. Comcast Corporation CMCSA has declined 1.43% since January 29, 2018 and is downtrending. (news.financializer.com). As reported in the news.

crimes: Winnipeg Crime Stoppers is doubling its cash rewards for information solving crimes related to methamphetamine, according to The Toronto Star. Guillermo Arias / THE CANADIAN PRESS meth users often experience a state of confusion and anxiety that can easily translate into an increase in violence. Crime Stoppers recognizes Winnipeg is currently experiencing a major crisis associated to crimes related to the use of meth on our streets, said Paul Johnson, the group's chairman. While opioid use has risen dramatically in other areas of Canada, crystal meth has become the fastest-rising drug of choice in Manitoba. The Addictions Foundation of Manitoba recently said meth use has increased by more than 100 per cent in adults and nearly 50 per cent in youth since 2014. It is cheap, relatively easy to produce, and gives users a high that can last for many hours. (news.financializer.com). As reported in the news.

food guide: The advice has been met with support from the majority of dietitians in Canada; it reflects the feedback we gave to Health Canada during its extensive consultation process, according to The Toronto Star. As Minister Petitpas Taylor noted at the launch of the Food Guide, food is more than nourishment. Canadians should be proud of the unwavering commitment that the guide represents to improving the food environment in Canada, so that it is easier for us all to make healthier choices. Food has the potential to enhance lives and improve health and the new Food Guide recognizes this by talking about not only about what we should eat but how we should eat. Ryan Remiorz / THE CANADIAN PRESS What is striking is the robust, evidence-based and thoughtful document called Dietary Guidelines for Health Professional and Policy Makers, released along with the beautiful graphics and mobile-friendly website that were prominently featured in hundreds of news stories over the past week. Health Minister Ginette Petitpas Taylor, right, and dietician Jessica Coll look over samples of some of the food groups at the unveiling of Canada's new Food Guide last week in Montreal. (news.financializer.com). As reported in the news.

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.