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

british market: Production for the British market fell by 16.3%. Investment into British car manufacturing almost halved during the year to 588.6m, a fall which the SMMT blamed on Brexit uncertainty, according to The Guardian. Publicly announced investments were lower than in any year since 2012, the first year comparable data was collected. UK car factories produced 1.52m vehicles last year, 9.1% fewer than 2017, according to figures published on Thursday by the Society of Motor Manufacturers and Traders SMMT the UK auto industry lobby group. Car production Investment is effectively stalled, said Mike Hawes, the SMMT's chief executive. Business is sitting on its hands in terms of investment. Industry is waiting to see what happens. (news.financializer.com). As reported in the news.

canada: The polar vortex is an icy cap of air that usually swirls over the North Pole, according to Nine News Australia. Changing air currents caused it to slip down through Canada and into the US Midwest this week. To improve your experience update it here News WorldUS polar vortex 'just sort of evaporates'By AAP2 19am Feb 1, 2019Facebook Tweet Mail The polar vortex that locked the US Midwest in sub-zero weather and led to the deaths of at least 21 people will give way to milder, snow-melting temperatures this weekend. The cold air isn't pushing off anywhere, it's just sort of evaporating, said Brian Hurley, a meteorologist with the National Weather Service's Weather Prediction Centre in College Park, Maryland. It'll feel like a heat wave. So we're going from minus 29C in Chicago Thursday morning to near 10C above on Monday, he said. (news.financializer.com). As reported in the news.

company: A 5 percent sales drop shows Tim Cook's company can no longer expect to sell significantly more phones or just to jack up prices, according to Global Times China. Rising margins on extras sold to iPhone users and the promise of 130 billion of capital returns buys Apple time to refresh. The 740 billion tech giant's holiday quarter was dismal, as expected. The iPhone has transformed Apple over the past dozen years, providing about 60 percent of the company's revenues, but the smartphone market has now matured. Revenue from the iPhone sales fell nearly 15 percent in the latest quarter, from a year earlier, even though the company charges prices almost 5 times as much as the average non-Apple smartphone, according to Sanford Bernstein. The number of units sold worldwide are expected to grow less than 3 percent this year, estimates research outfit IDC. Apple had resisted the slowing sales trend by raising prices to sustain profit growth, but that game appears to be over. (news.financializer.com). As reported in the news.

consumer front: UPS UPS, 0.65% executives said that the company was more productive this year during the peak holiday season, and the shipping giant continues to benefit from investments in automation, according to Market Watch. Despite some geopolitical headwinds, e-commerce is providing all kinds of opportunities, according to Chief Executive David Abney. But the real test comes after the bell when juggernaut Amazon Inc. reports. The company's latest initiative on the consumer front is a partnership with Shop Runner, through which members of UPS's My Choice program will be eligible for two-day shipping through the service. The company struck a more upbeat tone than peer Visa Inc., which spooked investors with its outlook the prior afternoon. Mastercard MA, 1.25% admitted to recent declines in consumer confidence in several European countries, but the company powered through, posting an acceleration in dollar-volume growth. (news.financializer.com). As reported in the news.

electronics china: Scott Walker as a once-in-a-generation opportunity to return manufacturing to the Midwest and the United States, according to The Japan Times. The Taiwanese electronics giant, also known as Foxconn Technology Group and a major supplier to Apple, is the world's largest contract maker of electronics and China's largest private employer. ; In a statement Wednesday, Hon Hai said it remains committed to the project, the creation of 13,000 jobs and to our long-term investment in Wisconsin. The much-ballyhooed facility was heralded by President Donald Trump and former Wisconsin Gov. But because the global market environment that existed when the project was first announced in 2017 has shifted, this has necessitated the adjustment of plans for all projects, including Wisconsin. Louis Woo, special assistant to Hon Hai CEO Terry Gou, told Reuters in a story published Wednesday that it is scaling back and possibly shelving plans to build liquid crystal display panel screens. Hon Hai previously said it could invest as much as 10 billion in the project, but did not recommit to that number in Wednesday's statement. (news.financializer.com). As reported in the news.

gr ie: 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 Nothing has changed since the 2016 referendum to reassure them about the prospects of investing in Britain, according to The Independent. And they are beyond frustration with the politicians. Unveiling the figures, industry leaders are issuing a heartfelt plea We need a deal . Despite all the support initiatives by the UK government and parliament, car bosses are clear about one thing, according to their spokesman. Among many other problems, the industry has highlighted the lack of progress in signing off on the valuable free trade deals with nations such as Japan and South Korea that the UK currently enjoys via the EU, but which will be forfeited automatically after a no deal Brexit. As he released the latest figures for investment and production in Britain's car factories and supply chains, Mr Hawes said it was not a pretty picture and he repeated that a no deal Brexit was the worst outcome of all, indeed an existential threat for British industry, and that all forms of Brexit were an exercise in damage limitation . No deal could place more than two thirds of UK automotive's global trade under threat, he added. Watch more No-deal Brexit must be ruled out to save motor industry, warns SMMT Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders SMMT abandoned much of the industry's previous politesse and reticence about commenting on policy by publicly backing Theresa May's deal with the EU, if only because it appears to be the least worst option. (news.financializer.com). As reported in the news.

income stream: As an asset, a cryptocurrency is a claim on nobody in contrast to sovereign bonds, equities or paper money and it does not generate an income stream, he wrote, according to Market Watch. As a currency, it is only a medium of exchange for larger-ticket items, and is simply too volatile to be considered as a numeraire or a store of value, concluding it makes cryptocurrencies unsuitable for investing in This makes cryptocurrencies entirely unsuitable for investing in. In a Jan. 30 column headlined Unencryptoed Why investors should steer clear of cryptocurrencies, Utermann said the distributed ledger technology lacks key features that make fiat money sustainable, including tax-raising powers, productivity in terms of trade and the ability to pay interest. As such, I would expect policy makers to take a close interest in the emergence of initial coin offerings ICOs that are being marketed as investments and a home for individuals' savings.' Andreas Utermann, Allianz Global Investors Read Bitcoin is about to do something it has never done before hint it's not good This is not the first time the former Merrill Lynch BAC, -0.32% banker has poured cold water on the viability of crypto assets. Rounding out Wednesday's post, Utermann said bitcoin mining the process by which bitcoins are created is a drain on the environment, so much so that society can't afford an increase in popularity. In December 2017, when the price of bitcoin BTCUSD, -1.08% was flying high, he told Bloomberg Television the cryptocurrency was pretty valueless, saying he would rather have something you can hold or see like the Mona Lisa painting Then a year later, at a panel discussion in London, Utermann said cryptocurrencies should be outlawed, adding, I am personally surprised that regulators haven't stepped in harder. (news.financializer.com). As reported in the news.

consumers: It says that by 2022 the reduction in TV viewing will cut the amount of ads viewed by 45% among 16- to 34-year-olds, by as much as 30% in the demographic known as housewives and kids and by 15% among ABC1 adults consumers from the three highest socio-economic brackets . This will make it more costly for campaigns to hit the same audience numbers, meaning advertisers are facing effective ad price rises of 90%, 50% and 20% for the three demographics respectively over the period, according to The Guardian. TV has been the go-to media channel for advertisers seeking mass reach, said Christian Polman, the chief strategy officer at Ebiquity, the media audit firm behind the report. A report has forecast an inflection point for UK TV where the decline in viewing that is already well established among 16- to 34-year-olds will spread to other key demographics, ultimately threatening TV's greatest selling point of mass-market reach for advertisers. We are saying that unless action is taken by advertisers and broadcasters, that by 2022 TV will no longer hold the crown as having the highest return on investment on a media plan. Ebiquity's report says the 2022 tipping point is a worst-case scenario and it is likely that traditional broadcasters will evolve counter-strategies including building real scale to their own streaming services and better TV ad targeting, while the impact of newer entrants such as Netflix will slow as they hit maturity in the UK. This month ITV's share price crumbled by nearly 6% as investors took fright at a report warning that the market was underestimating the decline of traditional TV viewing and the disruptive impact of services such as Netflix and You Tube. Advertisers will need to re-evaluate their media plans and investment. (news.financializer.com). As reported in the news.

estate tax: Elizabeth Warren wants to target wealth, and now Vermont Independent Sen, according to CNN. Bernie Sanders has a third proposal for taxing the very rich Hit their estates. Alexandria Ocasio-Cortez is going after income, Massachusetts Sen. Sanders, who is considering a 2020 presidential run, unveiled a proposal Thursday that would expand the federal estate tax on the wealthiest 0.2% of Americans, imposing a top rate of 77% on estates worth more than 1 billion. The increasing and varied levies would raise revenue to pay for new social spending and, more radically, to redistribute wealth -- and power -- across a society where the richest three people in the US, according to a report cited by Sanders, now own more wealth than the entire bottom half of the American population combined. Sanders' bill is the latest call to restructure the tax code to address the dramatic rise in US economic inequality. (news.financializer.com). As reported in the news.

facet: You will learn to balance different parts of your life, according to The Toronto Star. If single, you will meet people from various areas of your life. You will enjoy your life and each facet of it more completely. The person you could choose to be with might be a friend first. If attached, the two of you often can be found out and about together. That could prove to be an excellent foundation for a relationship. (news.financializer.com). As reported in the news.

farms: Hundreds of cases of pet theft are reported to police every year, with thieves mostly eyeing off designer breeds that come with hefty price tags, according to Nine News Australia. Crooks can fetch potentially thousands of dollars from just one dog, with the pooch often ending up in backyard puppy farms to breed more dogs. To improve your experience update it here News National Pet thieves breaking families' as dogs go missing By A Current Affair Staff7 51pm Jan 31, 2019Facebook Tweet MailA new crime wave is sweeping the nation as much-loved pets catch the eye of thieves who see them as an easy cash grab. Michelle Mullins's American Bulldog Bruno went missing over Christmas. Owner Michelle was in Brisbane when she got a call from the pet sitter saying the dog had vanished. A Current Affair Bruno, an American Bulldog owned by the Mullins family, went missing from his home north of Bundaberg in Queensland on Christmas Day. (news.financializer.com). As reported in the news.

deal: It is my belief and not just mine that it will persuade Labour MPs towards the deal, Mann said, according to The Guardian. A package focused on job creation would make it very difficult for Labour MPs in leave areas to vote against the deal unless they want a second referendum . But Anna Turley, who represents Redcar, said the offer amounted to little more than bribes or sweeteners to MPs who signed up to a revised Brexit deal which we know will make those constituencies worse off . May woos rebel Labour MPs in effort to gain Brexit deal backing Read more Given that the government have taken 6bn out of northern constituencies, is it not time that they held a proper debate on fairer funding for the north, instead of offering bribes and pork barrel politics Turley added. One pro-Brexit backbencher, John Mann, said he was in talks with civil servants about creating a multibillion investment fund aimed at leave-voting areas following a meeting he and a group of 25 MPs had with the prime minister a fortnight ago. No 10 is drawing up a package of measures aimed at wooing Labour MPs into supporting a revised Brexit package, in the belief that a hard core of up to 30 Tory Brexiters will never vote for any deal the prime minister can renegotiate. The prime minister's spokesman added we are determined to lead a programme of national renewal, post-Brexit saying that May had a long-term commitment to tackle inequalities, and that no community should feel that they are left behind . Downing Street rejected the idea that any plan amounted to cash for votes although any investment package would have to be carefully put together as there will be demands from Conservative MPs for greater investment in shire areas and possibly further demands from the Democratic Unionist party who are currently opposed to May's Brexit deal. A Downing Street spokesman would not be drawn on the details of the investment fund that Mann hopes the government will announce as part of the package, which is also expected to include legislation to protect workers' rights after Brexit. (news.financializer.com). As reported in the news.

mps: It is my belief and not just mine that it will persuade Labour MPs towards the deal, Mann said, according to The Independent. A package focused on job creation would make it very difficult for Labour MPs in leave areas to vote against the deal unless they want a second referendum . But Anna Turley, who represents Redcar, said the offer amounted to little more than bribes or sweeteners to MPs who signed up to a revised Brexit deal which we know will make those constituencies worse off . May woos rebel Labour MPs in effort to gain Brexit deal backing Read more Given that the government have taken 6bn out of northern constituencies, is it not time that they held a proper debate on fairer funding for the north, instead of offering bribes and pork barrel politics Turley added. One pro-Brexit backbencher, John Mann, said he was in talks with civil servants about creating a multibillion investment fund aimed at leave-voting areas following a meeting he and a group of 25 MPs had with the prime minister a fortnight ago. No 10 is drawing up a package of measures aimed at wooing Labour MPs into supporting a revised Brexit package, in the belief that a hard core of up to 30 Tory Brexiters will never vote for any deal the prime minister can renegotiate. The prime minister's spokesman added we are determined to lead a programme of national renewal, post-Brexit saying that May had a long-term commitment to tackle inequalities, and that no community should feel that they are left behind . Downing Street rejected the idea that any plan amounted to cash for votes although any investment package would have to be carefully put together as there will be demands from Conservative MPs for greater investment in shire areas and possibly further demands from the Democratic Unionist party who are currently opposed to May's Brexit deal. A Downing Street spokesman would not be drawn on the details of the investment fund that Mann hopes the government will announce as part of the package, which is also expected to include legislation to protect workers' rights after Brexit. (news.financializer.com). As reported in the news.

manufacturing projects: US President Donald Trump took part in the groundbreaking ceremony for Foxconn's Wisconsin plant in June, according to Global Times China. The news triggered a debate over whether the project was a fraud. The company said it intends to hire mostly engineers and researchers rather than the 13,000 jobs the project originally promised. People also queried the government's promise of to bring manufacturing back to the United States. The government praises all the new manufacturing projects and especially those that return to the US. Trump criticizes companies such as Harley-Davidson for opting to manufacture its motorbikes overseas. The White House has been promoting its alleged revival of the US manufacturing sector in recent years. (news.financializer.com). As reported in the news.

minds subscription: Brexit has already had a material effect on the UK's relationship with the EIB, which lent 7bn to 54 projects in 2016, compared to 1.8bn to 12 projects in 2017 and 932m to 10 projects last year, according to a new report by the Lords EU Financial Affairs Sub-Committee, 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 It comes as Theresa May's attempts to break the Brexit impasse by renegotiating her deal were met with fierce resistance in Brussels, as senior leaders lined up to insist it cannot be reopened. Peers warned that major infrastructure projects would be hurt further if the government fails to plug the funding gap when Britain loses access to the European Investment Bank EIB after Brexit, as ministers have relied on the EIB to fund major projects such as Crossrail and Manchester's tram extension. Peers accused ministers of being vague over future relations with the EIB, which has contributed more than 118bn to UK projects in the last 45 years, ranging from the London Overground to roads in Scotland, as well as major water and sewerage systems. Brexit deal vote Opposing groups of protesters gather by parliament Show all 20 Created with Sketch. Created with Sketch. (news.financializer.com). As reported in the news.

public-private fund: It has even been accused of being reduced to an organization designed to save zombie companies. ; The JIC has been stuck in a leadership void since, according to The Japan Times. President and CEO Masaaki Tanaka bolted with the eight directors in December amid a dispute over the government's role in the fund, leaving less than three months after it was established. Now it is inactive after all nine of its private-sector board members resigned last month in a revolt against the government. Initially, there were high hopes for JIC. Founded last September, the public-private fund was to invest its 2 trillion in capital in next-generation businesses like artificial intelligence, robotics and new drugs, making use of partnerships with investment funds at home and abroad. In early July, Hiroshige Seko, minister of economy, trade and industry, described Tanaka and the other board candidates as world-class people. The government provided more than 90 percent of the capital. (news.financializer.com). As reported in the news.

wednesday: On Wednesday, the key market gauge lost 108.10 points. ; The Topix index of all first-section issues finished up 16.73 points, or 1.08 percent, at 1,567.49, after slumping 6.33 points the previous day, according to The Japan Times. A wide range of issues attracted purchases from the outset of Thursday's trading, after the Dow Jones Industrial Average closed above 25,000 for the first time since Dec. 4 on Wednesday. The 225-issue Nikkei average rose 216.95 points, or 1.06 percent, to end at 20,773.49, after briefly gaining over 300 points in morning trading. After the two-day Federal Open Market Committee meeting through Wednesday, the Fed signaled a possible end to its recent interest rate hikes and suggested a flexible approach to its balance sheet reduction, reassuring a U.S. market concerned over a global economic slowdown, brokers said. The FOMC outcome couldn't have been better for U.S. equities, said Tomoaki Fujii, head of the investment research division at Akatsuki Securities Inc. Both Tokyo market indexes lost steam after the initial buying ran its course, hurt by profit-taking and selling on rallies, brokers said. (news.financializer.com). As reported in the news.

majority: Venture Capitalist and entrepreneur, Nick Hanauer, tells Ari Melber that Ocasio-Cortez is advocating for economic policies that benefit the broad majority of citizens which is in fact more, according to MSNBC. It's easy to call what 'AOC' Rep. Alexandria Ocasio-Cortez D-NY is having a huge impact on political discourse and the Democratic party, with several potential Presidential candidates reacting to her and criticizing her economic agenda, including Starbucks CEO Howard Schultz, who is considering running as an Independent candidate. Alexandria Ocasio-Cortez is doing as far-lefty, but nothing could be farther from the truth. What Howard Schultz represents, the centrism that he represents is really just trickle-down economics, Hanauer said Wednesday. When you advocate for economic policies that benefit the broad majority of citizens that's true centrism. (news.financializer.com). As reported in the news.

pipeline: The report said Ottawa's final purchase price last year of 4.4 billion was at the high-end of what the pipeline will be worth if the expansion goes ahead, according to The Toronto Star. Pipes are seen at the Kinder Morgan Trans Mountain facility in Edmonton in 2017. In a report published Thursday, the Parliamentary Budget Office pegged the value of the expanded Trans Mountain pipeline between 3.6 billion and 4.6 billion, not including terminals and other assets attached to the pipeline. JONATHAN HAYWARD / THE CANADIAN PRESS FILE PHOTO But Yves Giroux, the Parliamentary Budget Officer, said even a one-year delay in construction would reduce the value of the pipeline by 693 million. The pipeline would also lose value if construction costs currently forecast at 9.3 billion go up. A two-year holdup would degrade its value by almost 1.3 billion. (news.financializer.com). As reported in the news.

politico magazine: Noah Berger/AFP/Getty Images2020How Kamala Harris Won the Rollout Primary And Kirsten Gillibrand lost it, according to MSNBC. By BILL SCHERJanuary 31, 2019Continue to article content Facebook Twitter Email Comment Print Continue to article content Bill Scher is a contributing editor to Politico Magazine, and co-host of the Bloggingheads.tv show The DMZ. You might have missed it, but the Democratic presidential primary has already suffered its first casualty. Email Sign UpBy signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time. The presidential candidacy of Richard Ojeda, the obstreperous West Virginia populist who lost his 2018 House race, ended on January 25. Ojeda's fast fizzle is proof that a presidential primary is one endeavor in which 80 percent of success isn't just showing up. He had launched his campaign on November 11. (news.financializer.com). As reported in the news.

rogers customers: Huawei 5G modem Balong 5000 chipset is displayed after the presentation event in Beijing on January 24, according to The Toronto Star. A 2016 incident involved the surreptitious rerouting of the internet data of Rogers customers in and around Canada's capital by China Telecom, a state-owned internet service provider which has two legally operating points of presence on Canadian soil, said Yuval Shavitt, an electrical engineering expert at Tel Aviv University. The 2016 incident involved the surreptitious rerouting of the internet data of Rogers customers in and around Canada's capital by China Telecom, a state-owned internet service provider that has two legally operating points of presence on Canadian soil, said Yuval Shavitt, an electrical-engineering expert at Tel Aviv University. Andy Wong / THE ASSOCIATED PRESS Shavitt told The Canadian Press that the China Telecom example should serve as a caution to the Canadian government not to do business with another Chinese telecommunications giant Huawei Technologies, which is vying to build Canada's next-generation 5G wireless communications networks. You can just imagine how Chinese companies are co-operating with the Chinese government. It's too dangerous to let them in, Shavitt said. (news.financializer.com). As reported in the news.

victorian prize: Facebook Tweet Mail An Iranian asylum seeker in detention on Manus Island has won the Victorian Prize for Literature, according to Nine News Australia. Behrouz Boochani took out the top prize at the Victorian Premier's Literary Awards on Thursday for his novel No Friend but the Mountains Writing from Manus Prison. To improve your experience update it here News National Asylum seeker Behrouz Boochani wins top Victorian literature prize By AAP2 52am Feb 1, 2019Refugee Behrouz Boochani poses for a photograph on Manus Island in 2017. The prize money is 100,000. Boochani, a Kurdish journalist, has been in detention since 2013. Boochani's novel also won the Prize for Non-Fiction, worth 25,000. (news.financializer.com). As reported in the news.

gr ie: Despite ongoing scrutiny over the company's data and business practices, profits were up 61 per cent to 6.8bn 5.1 bn . 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 Facebook founder and chief executive Mark Zuckerberg said Our community and business continue to grow, according to The Independent. We've fundamentally changed how we run our company to focus on the biggest social issues, and we're investing more to build new and inspiring ways for people to connect. The social network's revenue for the three months ending on 31 December was 16.9bn 12.8bn up 30 per cent on the 12.9 bn 9.8bn reported in the same period last year. Despite on-going concerns over the firm's data policies, Facebook said the number of monthly active users was up 9 per cent on this time last year, reaching 2.32 billion. Gadgets and tech news in pictures Show all 42 Created with Sketch. Created with Sketch. (news.financializer.com). As reported in the news.

investment law: The new draft law was deliberated during a two-day session by a meeting of members of the National People's Congress NPC Standing Committee that started on Tuesday, according to Global Times China. There is an urgent need for such a unified law to provide stronger legal protection for further opening-up and better using foreign investment, Justice Minister Fu Zhenghua said at the session. Photo Xinhua An updated draft foreign investment law highlighting pre-establishment national treatment and intellectual property rights IPR protection for foreign firms will be submitted for formal approval on March 5, the latest move to showcase China's resolution for further opening-up. Fu noted that the laws could hardly keep pace with the changing requirements of building a new system for an open economy. The first draft of the law was submitted December 23, with the draft made available for public comment until February 24. Once adopted, the unified law will replace three existing laws on Chinese-foreign equity joint ventures, non-equity joint ventures and wholly foreign-owned enterprises, according to a report by the Xinhua News Agency on Wednesday. (news.financializer.com). As reported in the news.

market gauge: Tuesday, the key market gauge edged up 15.64 points. ; The Topix index of all first-section issues finished down 6.33 points, or 0.41 percent, at 1,550.76, after rising 1.58 points the previous day, according to The Japan Times. After getting off to a firmer start, the market came under pressure of position-squaring selling by investors who were waiting to see the outcomes of the U.S. Federal Reserve's policy-setting meeting ending later in the day and the ministerial-level trade talks between the United States and China in Washington through Thursday, traders said. The 225-issue Nikkei average lost 108.10 points, or 0.52 percent, to end at 20,556.54. Few investors boosted trading today, said Yutaka Miura, senior technical analyst at Mizuho Securities Co. Ahead of the start of the two-day FOMC meeting, speculation grew that Fed policymakers would discuss slowing or ending the U.S. central bank's move to shrink its balance sheet. Players found it difficult to move before watching reactions of Wall Street and the currency market to the Fed's Federal Open Market Committee meeting, he added. (news.financializer.com). As reported in the news.

myitsone dam: Suu Kyi's remarks coincided with a new round of attacks launched by some Myanmar people on the China-invested Myitsone Dam, according to Global Times China. Her remarks at this time are meant to send a political message. If the government breaks a promise made by its predecessor, the country will lose its credibility and no businessperson would want to invest in this country, she said. China signed agreements with the then Myanmar government on a slew of projects when Myanmar was under Western sanctions, including the Myitsone Dam, which was suspended in 2011. Western sanctions had wrecked the Myanmar economy and people's livelihood was affected. Recently, some local people have openly called to scrap the project. (news.financializer.com). As reported in the news.