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

risk: The tightening of lending standards during the year-long inquiry and on the back of regulator measures is not expected to accelerate due to the final report, reducing the risk of a credit squeeze, according to Nine News Australia. Commissioner Kenneth Hayne QC has previously made it clear he expected banks to do more to verify customers' income and their actual living expenses in assessing loans amid an over-reliance on using a household expenditure measure benchmark. To improve your experience update it here News National Hard to get a loan but it won't get harder By AAP4 46pm Feb 5, scrutiny of home buyers' expenses and income is set to stay, but at least the banking royal commission's final report will not make getting a mortgage even harder. But he decided not to tighten lending laws or impose a cap or ban on the use of the benchmark, pointing to the steps banks have taken to strengthen their home lending practices and reduce their reliance on the HEM. Core Logic head of research Tim Lawless and research analyst Cameron Kusher said the final report was nowhere near as severe as expected. The tight credit environment, which has been the primary driver of less housing market activity and weakening home values, looks set to stay but not worsen. There were no additional recommendations that borrower credit assessment should be tightened further, and perhaps surprisingly, the HEM hasn't been ruled out as a valid benchmark for assessing borrower expenses, implying credit availability is not likely to worsen any further, they said. (news.financializer.com). As reported in the news.

job: Some of my friends are engaged or married, on tighter budgets, according to The Toronto Star. But it's my closest married friend with a couple of young kids, who's upset me recently. I have a great job and good income, having pretty much followed a direct path towards it. Talk out what happened in Vegas. Richard Lautens / Toronto Star A group of us were invited to celebrate one friend's 30th birthday, during a Las Vegas weekend. Don't let it stay there, Ellie Tesher advises. (news.financializer.com). As reported in the news.

officials screen: Border Security Minister Bill Blair says officials screen all asylum-seekers at the border and that there is no security problem, according to The Toronto Star. Adrian Wyld / THE CANADIAN PRESS file photo All those in the queue had already been screened once at the border to see whether they posed clear security threats. Internal government documents obtained by lawyer Richard Kurland under the federal access-to-information law show that as of Feb. 28, 2018, there were 11,745 asylum-seekers waiting for second security screenings, up from 1,683 just two years earlier an increase of about 700 per cent. Overall, 41 per cent of the backlog cases were refugee claimants who are already in Canada but who have not been security screened, Canada Border Services Agency officials wrote in a presentation outlining why things were so backed up, and who was stuck in it. Article Continued Below Border Security Minister Bill Blair said officials check all asylum-seekers at the border and stressed there is no security threat to Canadians. The Toronto Star first reported the details, which lit a political fire in the House of Commons' daily question period. (news.financializer.com). As reported in the news.

outstripped energy: It outstripped energy for the first time in 2016, with annual emissions of about 125m tonnes of CO2, according to The Guardian. This figure has barely changed since 1990. Official data released on Tuesday is expected to confirm transport as the most polluting sector, largely driven by cars. Friends of the Earth said there needed to be a radical reimagining of transport to bring about a 20% reduction in car journeys, even with a faster switch to electric cars, to meet climate change targets. Mike Childs, the head of research at Friends of the Earth, said the outlay was a fraction of road spending. The group said free bus travel, costing 3bn a year, would also help address public health concerns around air quality and obesity. (news.financializer.com). As reported in the news.

smoke inhalation: Hampshire fire service said in the early hours of Wednesday that four of its firefighters had been treated for smoke inhalation, according to The Guardian. In a statement, the fire service said the blaze had been declared a major incident and part of the roof collapsed, adding The fire in the robot-run distribution centre is now under control and it is no longer a major incident. About 200 firefighters and 20 fire engines were sent to the blaze, which began at the Andover facility at about 2 45am on Tuesday. The online grocery retailer has been forced to cancel thousands of customer deliveries due to the fire. The company's share price dipped when the first reports of the fire emerged at lunchtime on Tuesday, before investors returned to focusing on the annual results published earlier in the day and the announcement of a new one-hour grocery delivery service, Ocado Zoom, to compete more directly with Amazon. The warehouse handles more than 4,000 orders a day and uses hundreds of robots to select groceries from a 3D frame called the grid . Ocado said We will assess the damage this incident has caused and will update further as appropriate. (news.financializer.com). As reported in the news.

balance sheet: In a statement, the Fed, which raised interest rates four times in 2018, signaled Wednesday that it's on hold until further notice, according to Market Watch. In a separate statement, it also signaled it might slow the pace of the rundown of its balance sheet for technical reasons. We're as happy as anyone that U.S. stocks have rebounded, but we're not mistaking the Fed's easier stance for a sign the clouds have cleared, wrote Nicholas Colas, co-founder of Data Trek Research, in a Thursday note. See Patient' Fed adopts wait-and-see stance as Powell says case for higher rates weakens' Even as investors dived in to equities after the Fed's meeting this week, a simultaneous bond-market rally appeared to offer up a more pessimistic assessment. Yields rebounded Friday, with the 10-year ending at 2.68%, but off 6 basis points for the week. The 10-year Treasury yield TMUBMUSD10Y, -0.53% finished below 2.70% on Wednesday, the first time in three weeks, plunging an additional 6 basis points on Thursday. (news.financializer.com). As reported in the news.

china: China has adopted a slew of measures to encourage the development of clean energy, including building vast solar and wind farms, with aims to make non-fossil energy meeting 20 percent of its energy needs by 2030, according to Global Times China. To reach this goal, China is investing heavily in renewable energy, pledging to invest 2.5 trillion yuan about 373 billion US dollars in renewable power generation - solar, wind, hydro and nuclear - by 2020. China will continue to boost the growth of the oil-and-gas industry this year, increase efforts in oil and gas exploration and development, and build more pipelines and gas storage facilities, according to the administration. (news.financializer.com). As reported in the news.

cryptocurrency exchange: According to a court filing first reported by Coin Desk, a cryptocurrency news and events company, Jennifer Robertson, identified as Cotten's widow, said the exchange owes its customers roughly C 250m US 190m in cash and cryptocurrency held in its cold storage . Quadriga's inventory of cryptocurrency has become unavailable and some of it may be lost, Robertson wrote in the filing, according to The Independent. Cotten, 30, died in India last December from complications from Crohn's disease, according to the company. Bitcoin after 10 wild years, what next for cryptocurrencies Read more Investors in QuadrigaCX, Canada's largest cryptocurrency exchange, were unable to access their funds after its founder, Gerald Cotten, died last year. He was in India opening an orphanage to provide a home and safe refuge for children in need . The news followed a decision by Canadian Imperial Bank of Commerce CIBC to freeze 28m of assets held by Quadriga after saying it was unable to identify the real owners of the funds. In the filing she noted that there had been a significant amount of commentary on Reddit and other web based platforms about Quadriga, Gerry's death including whether he is really dead and missing coins . She said she had also received threats and slanderous comments. Robertson was not involved in the business. (news.financializer.com). As reported in the news.

cryptocurrency news: According to a court filing first reported by Coin Desk, a cryptocurrency news and events company, Jennifer Robertson, identified as Cotten's widow, said the exchange owes its customers roughly C 250m US 190m in cash and cryptocurrency held in its cold storage . Quadriga's inventory of cryptocurrency has become unavailable and some of it may be lost, Robertson wrote in the filing, according to The Guardian. Cotten, 30, died in India last December from complications from Crohn's disease, according to the company. Bitcoin after 10 wild years, what next for cryptocurrencies Read more Investors in QuadrigaCX, Canada's largest cryptocurrency exchange, were unable to access their funds after its founder, Gerald Cotten, died last year. He was in India opening an orphanage to provide a home and safe refuge for children in need . The news followed a decision by Canadian Imperial Bank of Commerce CIBC to freeze 28m of assets held by Quadriga after saying it was unable to identify the real owners of the funds. In the filing she noted that there had been a significant amount of commentary on Reddit and other web based platforms about Quadriga, Gerry's death including whether he is really dead and missing coins . She said she had also received threats and slanderous comments. Robertson was not involved in the business. (news.financializer.com). As reported in the news.

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Related 'Toy Story 4' Super Bowl Trailer Woody And Bo Peep Search For Buzz Lightyear In New Look At Pixar Sequel Tom Hanks stepped up for The Washington Post during a Super Bowl commercial. Krux function var var ; window. The veteran actor narrated a 60-second spot airing during the big game about the importance of journalists. The Post announced the ad would be airing the day before the spot debuted. The ad featured images of some of the biggest stories since World War II, with Hanks talking about journalists as those who gather of facts to bring you the story, no matter the cost. (news.financializer.com). As reported in the news.

gr ie: It was previously known that the government had offered reassurances to Nissan, sparking concerns over secret deals, 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 The correspondence with the business ministry had not been released publiclybecause it was deemed to be too commercially sensitive. The British government told the car maker that it would not be adversely affected by Brexit, and said it would look after the company if it went ahead with plans to expand operations in Sunderland. However, on Monday the government published the letter in full. Britain Before Brexit Northeast England Show all 12 Created with Sketch. The letter from Mr Clark promised approximately 80m in investment in the Sunderland site in return for Nissan's pledge to expand SUV production there, as well as a positive decision by the Nissan board to allocate production of the Qashqai and X-Trail models to the Sunderland plant . Created with Sketch. (news.financializer.com). As reported in the news.

isn t: Soft Bank's loan-to-value ratio, its net interest-bearing debt over the value of its investment portfolio, is less than 20 percent, according to separate calculations by Daiwa Securities Group Inc. and SMBC Nikko Securities Inc, according to The Japan Times. The company's own goal is to keep it under 35 percent, a level that Daiwa considers conservative. ; Soft Bank, which controls the world's biggest investment vehicle in the almost 100 billion Vision Fund, has been suggesting so-called LTV as a better measure of its leverage since at least mid-2017, when it was included in an earnings presentation. And by that gauge, they say, its massive debt pile looks manageable. That isn't to say concern about the company's debt has disappeared. But the metric has taken on more importance since the initial public offering of Soft Bank Corp. finally scythed the telecom business off from the holding company. The major global credit assessors rate the group at junk, and its bond risk is among the highest for Japanese borrowers. (news.financializer.com). As reported in the news.

limit rise: Almost 200 governments promised in the 2015 Paris climate agreement to limit a rise in average global temperatures to well below 2 C 3.6 F above pre-industrial times by 2100, according to The Japan Times. Worldwide, temperatures are up about 1 C 1.8 F . On Svalbard, the envisaged rise in temperatures would thaw the frozen ground underpinning many buildings, roads and airports, cause more avalanches, slushflows and landslides, melt glaciers and threaten wildlife such as polar bears and seals that rely on sea ice to hunt. The thaw on the remote Svalbard islands, home to 2,300 people and where the main village of Longyearbyen is 1,300 km 800 miles from the North Pole, highlights risks in other parts of the Arctic from Alaska to Siberia. ; Average temperatures on Svalbard have leaped between 3 and 5 degrees Celsius 5.4-9.0 Fahrenheit since the early 1970s and could rise by a total of 10 C 18F by 2100 if world greenhouse gas emissions keep climbing, the study said. A 10 degree warming, with the implications for Arctic nature, ice-dependent species, will be devastating, Climate and Environment Minister Ola Elvestuen told Reuters. Two people died in 2015 when an avalanche destroyed 10 houses in Longyearbyen. Norway will have to increase investment to relocate buildings from avalanche paths and drill deeper infrastructure foundations as permafrost thaws, the report said. (news.financializer.com). As reported in the news.

mandalay region: Investors are invited to invest in the region's culture-based tourism sector as it is a home for over 300 intangible cultural heritage assets including the gold embroidery business and traditional arts and crafts, Mandalay Region Chief Minister U Zaw Myint Maung was quoted as saying, according to Global Times China. The Mandalay region investment committee was formed in July 2017, entrusted with the power to approve foreign direct investments with an amount not exceeding 5 million US dollars under the new Myanmar Investment Law introduced on Aug. 1 last year. The investments flew into the manufacturing, tourism, power sectors and other services in Mandalay region. The Yangon region attracted 60 percent of investments from both home and abroad, followed by Mandalay with 30 percent and the rest flowed into other regions and states. Under the MIPP, Myanmar targets to attract more than 200 billion US dollars in the next 20 years from the fiscal year 2016-2017 to 2035-2036. Meanwhile, the Myanmar Investment Promotion Plan MIPP was introduced by the Myanmar Investment Commission MIC on Oct. 8 last year, to promote investments for better development in economy, institutions, infrastructure, industries and human resources in the country. (news.financializer.com). As reported in the news.

market gauge: On Friday, the key market gauge added 14.90 points. ; The Topix index of all first-section issues was up 16.70 points, or 1.07 percent, at 1,581.33, after losing 2.86 points the previous session, according to The Japan Times. A wide range of issues attracted purchases from the outset, after the Dow Jones industrial average on the New York Stock Exchange rebounded Friday on strong jobs and manufacturing data for January released by the U.S. government and the Institute for Supply Management, respectively. The 225-issue Nikkei average advanced 95.38 points, or 0.46 percent, to end at 20,883.77. Given those figures, investors turned less concerned about the course of the U.S. economy, brokers said. But the market remained buoyant throughout the day's trading thanks to the weaker yen, they said. After the initial spurt, stocks lost upward momentum due to a lack of fresh buying incentives. (news.financializer.com). As reported in the news.

nissan: The offer was included in a letter from Business Secretary Greg Clark to former Nissan Chairman Carlos Ghosn dated October 21, 2016, according to Nine News Australia. The letter said UK support was contingent on Nissan building two models in England. To improve your experience update it here News WorldUK offered Nissan US 100 million to ease its Brexit fears By CNN6 14am Feb 5, 2019Facebook Tweet Mail The British government promised Nissan up to 80 million US 104 million as it sought to reassure the Japanese carmaker about the future of its UK operations after the Brexit vote in 2016. The letter, which was released by the UK government overnight, has long been the subject of speculation. UK voters chose to leave the European Union in a referendum in June 2016. The government had previously refused to detail its arrangements with Nissan, sparking concerns that a special deal had been struck to ensure continued investment at the company's massive plant in Sunderland. (news.financializer.com). As reported in the news.

goods: However, kitchens could also potentially be rented rather than sold in future, according to The Guardian. The leasing strategy is part of Ikea's wider effort to design and sell goods that can be repaired, reused, recycled or resold and promote services that prolong the life of a product. The world's largest furniture retailer said it wanted to test out the idea of leasing office furniture such as desks and chairs to business customers, starting in Switzerland. You could say leasing is another way of financing a kitchen. An Ikea spokesperson said We have an ambition to inspire and enable people to play an active role in making the circular economy a reality, which we can support by developing new ways for people to buy, care for and pass on products. When this circular model is up and running, we have a much bigger interest in not just selling a product but seeing what happens with it and that the consumer takes care of it, Torbjorn L f, the chief executive of Inter Ikea, which owns the Ikea brand, told the Financial Times . He said the Swedish company was also considering launching its own spare parts business so that customers could replace components, such as hinges or screws, for furniture no longer stocked in Ikea's stores. (news.financializer.com). As reported in the news.

off-the-plan: Like the risk of making an investment where you might lose money, according to Nine News Australia. Which is what many property owners are facing today. To improve your experience update it here News National Opal Tower debacle exposes hidden risk in buying off-the-plan By Ross Greenwood Finance Editor12 40pm Feb 4, be honest, life carries risk. But an extra risk unbeknownst that many off-the-plan apartment buyers are carrying today, is a heavy personal risk. Sydney's Opal Tower was evacuated last year. 60 Minutes As 60 Minutes started investigating the future of housing prices, a stark reality came to light. Injury, or death, caused by lax building standards and shoddy building. (news.financializer.com). As reported in the news.

pre: But you probably knew that already, according to MSNBC. As is our tradition, we have provided each network's coverage plans below so you can decide where you'd like to watch the SOTU and the Democratic party response, along with the pre- and post-coverage. ET. Broadcast, cable and streaming networks will give it plenty of attention. We'll update this item as more information trickles in throughout the day. Chief anchor George Stephanopoulos will lead ABC TV coverage from 9 11 p.m., ET on ABC from Washington, D.C.m with World News Tonight anchor David Muir, chief global affairs correspondent and This Week co-anchor Martha Raddatz, chief White House correspondent Jonathan Karl, senior White House correspondent Cecilia Vega, chief justice correspondent Pierre Thomas, senior national correspondent Terry Moran and senior congressional correspondent Mary Bruce. ABC News announced today special coverage of President Donald Trump's State of the Union address and the Democratic response by former Georgia gubernatorial candidate Stacey Abrams on Tuesday, Feb. 5, 2019. (news.financializer.com). As reported in the news.

party: Email Sign UpBy signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time, according to MSNBC. AP Photo/Susan Walsh Politics There Is Going to Be a War Within the Party. We Are Going to Lean Into It.' - POLITICO Magazinewindow.jQuery adblocker ; expires Thu, 01 Jan 1970 00 00 00 GMT; path / ; var function adblocker var d new Date ; d.set Time d.get Time 60 60 24 2 1000 ; document.cookie adblocker adblocker true false ; expires d.toUTCString ; path / ; var script true ; Skip to Main Content POLITICO Magazine Menu Our Latest Search Email Search Close The Friday Cover The Friday Cover is POLITICO Magazine's email of the week's best, delivered to your inbox every Friday morning. We Are Going to Lean Into It.'The Justice Democrats helped get Alexandria Ocasio-Cortez elected. He lives in New York. Who are they after next By DAVID FREEDLANDERFebruary 04, 2019Continue to article content Facebook Twitter Email Comment Print Continue to article content David Freedlander writes about politics and culture. (news.financializer.com). As reported in the news.

market investors: The Nasdaq Composite Index added 83.67 points, or 1.2%, to close at 7,347.54, according to Market Watch. What drove the market Investors will wade through more corporate earnings this week, with 97 members of the S&P 500 on tap along with one Dow component, Walt Disney Co. How did major indexes fare The Dow Jones Industrial Average DJIA, 0.68% rose 174.48 points, or 0.7%, to end at 25,239.37, while the S&P 500 index SPX, 0.47% gained 18.34 points, or 0.7%, to 2,724.87. DIS, 0.77% reporting Tuesday. Read Surprised by Fed's dovish tilt, economists cut forecasts of future interest-rate hikes Check out Does Fed's dovish turn signal further gains for stocks Bond investors have doubts U.S.-China trade talks will remain in focus as a March 1 deadline to avoid an increase on tariffs on Chinese imports looms. Read Disney and Alphabet highlight another big week of earnings More broadly, stocks continue to benefit from a dovish Federal Reserve after the central bank last week signaled rate increases were on hold until further notice. (news.financializer.com). As reported in the news.

people opportunity: This extends to the entire African continent as we saw the initiation and signing of cooperation agreements and memoranda of understanding in different sectors and in different countries, according to Global Times China. The year also recorded historic cooperation events such as the Forum On China-Africa Cooperation FOCAC and the first China International Import Expo in Shanghai which attracted global attention and reinforced China's commitment to opening up trade and commerce to the world and supporting the global prosperity agenda. Certainly, 2018 was a great year with increased cooperation between the Republic of Ghana and the People's Republic of China. Similar to holidays in Ghana, the Chinese New Year and holiday affords people the opportunity to reunite and rekindle ties with family, take stock and review happenings in the previous year and plan for the new year and most importantly get some rest. It is our hope that the new year brings with it increased collaboration in all facets of our relationship such as trade, technology, infrastructure and people to people exchanges. Ghana is pleased with the increased cooperation and bilateral relations it has with China under the leadership of President Xi Jiping. (news.financializer.com). As reported in the news.

percent: Most analysts have expected wage gains to remain close to 3 percent this year, according to Bloomberg surveys, according to The Japan Times. Hassett also said the White House is definitely seeing productivity go up and that's one reason the pay gains don't necessarily have to be inflationary, he said. What we're seeing is basically a really strong economy with solid wage growth that I think is going to improve this year, Kevin Hassett, chairman of the White House's Council of Economic Advisers, said in an interview Monday on Bloomberg Television. ; As companies invest more after tax cuts and the job market tightens, he said the administration very much expects year-over-year nominal wage growth that's currently just above 3 percent to exceed 4 percent in 2019, he said. Adjusted for inflation, wages rose 1.3 percent in December from a year earlier. Weighing on the U.S. economic outlook is uncertainty about the U.S. trade war with China, but Hassett said concerns should diminish as talks yield progress toward a resolution. The most recent figures show productivity rose in the third quarter at a 2.3 percent annualized rate, which is above average for this expansion. (news.financializer.com). As reported in the news.

remittances investments: But simulations run by the German Development Institute, published this month, show that the impact could be disastrous also outside Europe, pushing millions of people in developing countries into extreme poverty, according to The Independent. Brexit could increase the population living in extreme poverty in EBA countries by nearly 1.7 million, the authors wrote. With the deadline to reach a Brexit agreement looming in March, much attention has been given to the effects it would have on the European and British economies. These are conservative estimates of Brexit's negative impacts; they do not take into account the additional implications of uncertainty, depreciation of the pound sterling, reduced aid spending, remittances and investments. With an impending Brexit, these vulnerable states will no longer have access to the UK market through EBA. If a hard Brexit the return to World Trade Organisation's rules of trade was to take place, the authors found Cambodia would be affected the most of all least-developed countries. Hard Brexiters say only acceptable way forward is to remove backstop Read more Under the Everything But Arms EBA agreement, 49 least-developed countries can export to the European Union tariff-free. (news.financializer.com). As reported in the news.

bond: Investors are set to take down a raft of key bond auctions this week, with the Treasury Department set to sell 84 billion of debt across 3-year, 10-year and 30-year maturities, according to Market Watch. Market participants say yields partly rose on Monday's session because investors were making room for the fresh wave of supply during the so-called concession process, when broker-dealers bid yields higher in an effort to ensure a successful showing in a coming bond auctions. The 10-year Treasury note yield TMUBMUSD10Y, -0.53% climbed 3.4 basis points to 2.724%, while the 30-year bond yield TMUBMUSD30Y, -0.38% was up 2.8 basis points to 3.058%. The 2-year note yield TMUBMUSD02Y, -0.80% was also up 2.4 basis points to 2.532%. Bond prices move inversely to yields. The modest cheapening of Treasurys reflected a simple supply concession into this week's refunding auctions, wrote Jon Hill, an interest-rate strategist at BMO Capital Markets. The U.S. central bank announced its departure from its steady rate increase path at last week's January meeting, saying investors may have to wait before they see another rate move later this year. The delay of economic data thanks to the government shutdown will ensure the Fed will continue to dominate the agenda for investors. (news.financializer.com). As reported in the news.

moe: Saskatchewan Premier Scott Moe attends a media event in Saskatoon, Sask., on Oct. 4, 2018, according to The Toronto Star. Moe announced Monday that the pool of provincial money for towns and cities will grow by 10 million next fiscal year. That will bring revenue sharing with municipalities to 251 million in fiscal 2019-20. Liam Richards / THE CANADIAN PRESS The government attributes the increase to a recalculation of its revenue-sharing formula, which was reviewed last year. But more items such as children's clothing and restaurant meals are no longer exempt so the tax base is broader. The formula has been reduced to three-quarters of a point of the six per cent provincial sales tax. (news.financializer.com). As reported in the news.