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

government attempts: We have a rare chance to make our electricity system fair again, but we need to act fast Nicky Ison Read more The report comes as the government attempts to pass what is left of its big stick legislation which, after jumping through some federal court hoops, would give the energy minister of the day the potential to earmark electricity companies for divesture if they were found to be misusing their market power for price gouging, according to The Guardian. The Grattan Institute researchers reviewed the last 10 years of Australia's power issues, and the potential for future problems, as ageing coal-fired power stations come off line, and found problems with transporting power was the overwhelming source of Australia's power reliability problems to date. But government underwriting of new power-generation investment a key Coalition energy policy could hinder, not help the bid to bolster network reliability, the researchers warned, by scaring away genuine potential investors . Instead researchers from the Grattan Institute recommended a better management of the distribution of Australia's existing supply of power while encouraging Australians to invest in their own backup supplies, as the technology to store renewable energy such as solar becomes cheaper, among potential solutions to the nation's future power problems. But it also warned that would not always be the case, if policymakers did not find a sustainable and sensible solution to maintaining supply that did not rely on false narratives such as renewable energy sources were to blame for blackouts. The overwhelming source of outages is problems in transporting power; it has nothing to do with whether the power was generated from renewables or coal, or some other technology, the Grattan researchers concluded. The report reviewed the mass blackout across South Australia in 2016, after which the researchers found reporting on power blackouts increased by up to 10 times despite the actual number of power outages remaining stable. (news.financializer.com). As reported in the news.

identities: Critics have said the innovation could put peoples' identities and personal information at risk. 9news The MyGovID digital system is currently being tested across the country, with those in the pilot program able to use facial recognition, instead of paper, to apply for a tax file number, according to Nine News Australia. The image taken is matched against passport images already on file. To improve your experience update it here News National Facial recognition passport 'close to a reality' for Aussies By 9News Staff8 38pm Feb 10, could be one step closer to getting a passport through facial recognition software, however civil libertarians have accused the government of running towards a surveillance state. It takes a matter of minutes, rather than a month-long process, Digital Transformation Agency CEO Randall Bregeaud told 9News. The technology could eliminate the need to use a paper form when applying for a tax file number. 9news By the end of next year, MyGovID will be trialled across multiple areas for business and tax applications. The government has said if this program is successful, the initiative could be used to apply for a passport and possibly allow travellers to use their face instead of a passport. (news.financializer.com). As reported in the news.

liver injury: In an interview with 60 Minutes reporter Liz Hayes, Dr Paul Clark said he has seen several patients suffering liver failure and liver injury, with herbal medications the probable cause, according to Nine News Australia. Liver transplant surgeon Dr Paul Clark. 60 Minutes We commonly see people on herbal medications who come in with liver failure and liver injury, Dr Clark told Hayes. To improve your experience update it here News World60 Minutes Popular supplements could cause liver failure, surgeon warns By Sammi Taylor 60 Minutes Digital Producer10 52pm Feb 10, 2019Facebook Tweet MailA leading liver transplant surgeon has warned Australians of the dangers of supplements, citing cases of liver failure caused by popular products such as Valerian and green tea extract. It worries me that we have these time bombs out there ticking, that people feel these things are harmless. But herbal supplements, most of which are available without prescription on the shelves at supermarkets, chemists and health food stores, are not harmless and doctors warn they could be deadly. Every year in Australia alone, up to 12 Australians receive liver transplants because of acute reactions to a variety of herbs and supplements. (news.financializer.com). As reported in the news.

parliament: She will tell parliament on Monday that the new measures show that the Conservative government is on the side of workers saving for retirement and that we will protect their incomes from reckless behaviour . More than 10 million people are now enrolled in workplace pension schemes, according to The Guardian. Rudd, a former JP Morgan banker and business executive, said For too long the reckless few playing fast and loose with people's futures have got away scot-free. Amber Rudd, the work and pensions secretary, said the current fines were not enough and that a new criminal offence would be introduced to punish wilful or reckless behaviour relating to a pension scheme, threatening unlimited fines and prison terms of up to seven years for the worst offenders. Acts of astonishing arrogance and abandon punished only with fines, barely denting bosses' bank balances. That cannot be right, which is why, for the first time, we're going to make wilful or reckless behaviour relating to pensions a criminal offence. Meanwhile, workers who have done the right thing and saved for retirement, confident their investments were safe, are left facing a leaner later life. (news.financializer.com). As reported in the news.

feb: The news and stories that matter, delivered weekday mornings.SUBSCRIBEFeb. 10, 2019, 6 39 AM GMT / Updated Feb. 10, 2019, 3 22 PM GMTBy Dennis Romero Saturday Night Live delivered some laughs at the expense of Amazon billionaire Jeff Bezos following his disputed accusations that the owner of the National Enquirer threatened to publish sexually graphic photos that were part of texts between him and girlfriend Lauren Sanchez, according to MSNBC. The comedy showcase opened with a spoof of MSNBC's Meet the Press and a thorough discussion of what might be seen in the alleged images. Kenan Thompson as Eugene Robinson, Kyle Mooney as Chuck Todd, Cecily Strong as Peggy Noonan, and Leslie Jones as Donna Brazile during the Meet The Press cold open of SNL. Will Heath / NBCBreaking News Emails Get breaking news alerts and special reports. Washington Post columnist Eugene Robinson, played by Kenan Thompson, wondered if Bezos is working with something the size of an Amazon Echo or is it more of a Dot. I'll make them into hilarious memes and I'll send them to all my friends, he said. Robinson said he looked forward to seeing any Bezos photos. (news.financializer.com). As reported in the news.

appraisal assignment: To solve this asymmetric issue, a regulatory joint-document was recently issued by the Supreme People's Court of China, according to Global Times China. With the help of five national self-regulatory organizations SRO the document is a follow-up to the provisions covering the people's court to help determine reference prices for asset disposal. The capacity of appraisers is uneven, and the ability of the courts to select relevant valuation points is limited. The entities came up with the idea of creating forensic valuation pools for appraisal firms from different disciplines by different SROs so that relevant parties could pick one efficiently whenever a forensic appraisal assignment is given, entrusting the power of pools-setting to the professional SROs While some view it as a success for the market that all five of the big SROs in the appraisal industry, namely, China Appraisal Society CAS China Institute of Real Estate Appraisers and Agents CIREA China Real Estate Valuers and Agents Association CREVA Gem & Jewelry Trade Association of China GAC and Chinese Association of Mineral Resources Appraisers CAMRA have their share of the forensic valuation market. However, the joint issuance with regard to the selection process of an appraisal firm's normative document by China's judicial bodies and SROs is significant to the valuation profession and represents a step forward in standardizing valuation practices in China. Some see it as a victory for national judicial authorities that they could engage the top appraisal firms for forensic valuation with this new arrangement. (news.financializer.com). As reported in the news.

development goals: Moreover, they have fallen short of the aspirations of the UN's sustainable development goals, which call for accountable and inclusive institutions . Facebook Twitter Pinterest Martin Fayulu, the runner-up in Congo's presidential elections, at a rally in Kinshasa, according to The Independent. Photograph John Wessels/AFP/Getty Images The results compiled by the independent national election commission CENI leaked to the press, confirm those of the Catholic church, which fielded 40,000 observers across the country. In doing so, they have failed the Congolese people. They show that Martin Fayulu, the opposition coalition candidate, won the presidential election, not by a whisker, but by a landslide. This is a defeat for democracy. However, after a week's delay and intense negotiations, the CENI announced the victory of Felix Tshisekedi. (news.financializer.com). As reported in the news.

fire movement: Read about why index funds have an edge over active management, and find out what to look for when choosing an index fund, according to Market Watch. Then read why retiring bond-fund manager Bill Gross is the industry's bond king. Fees and expenses, structure, and average market-capitalization are just some of the potential differences between fund offerings that can impact performance. Also, check out stories on the FIRE movement financial independence; retire early and why the market's ugly ducklings often transform into beautiful and profitable swans. Bond king' Bill Gross never lost his investing crown Bill Gross praised as bond-investing pioneer as he bows out after four-decade career Bill Gross wins praise as pioneer who transformed bond investing as he announces his retirement from Janus Henderson, ending a more-than-four-decade career. Jonathan Burton INVESTING NEWS & TRENDS 6 things you probably didn't know about index funds Index funds are not all created equal how do you pick a good one 6 things you probably didn't know about index funds Bond king' Bill Gross never lost his investing crown Criticism of storied mutual-fund manager is unfounded, writes Mark Hulbert. (news.financializer.com). As reported in the news.

gr ie: The poll comes as Labour leader Jeremy Corbyn sought to quell anger among his own MPs by stressing that a Final Say vote was still on the table, 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 Several cabinet ministers have openly mooted extending Article 50 for a short period to get crucial legislation through the Commons, amid a growing realisation that a short delay may be inevitable. With less than seven weeks until exit day, the exclusive survey for The Independent found 53 per cent of voters would support postponing Britain's departure from the European Union, opening the door to a second referendum or further talks with Brussels. The poll by BMG Research found that the public also favoured a delay, possibly to prepare for a second referendum, while 33 per cent would back a no-deal exit, even if it hits the economy, and 14 per cent did not know. Some 28 per cent disagreed with the statement. Watch more Jeremy Corbyn says Labour could still back new Brexit referendum The poll found nearly half 49 per cent believed a no-deal Brexit would be an economic catastrophe that would do lasting damage to the country. (news.financializer.com). As reported in the news.

haven assistance: Sources caution its help could be temporary, according to The Japan Times. The Taliban also do not want to appear beholden to Islamabad, which has long denied U.S. accusations that it provides safe haven and assistance to insurgents as a way to preserve influence in neighboring Afghanistan throughout its more than 17-year-old war. The Pakistani assistance, which has not been reported in such detail before, also includes exerting pressure on Taliban leaders who fail to cooperate, including by detaining members of the militants' families, the insurgents say. ; Pakistan's role in the peace negotiations is a delicate one, with Islamabad seeking to avoid demonstrating the kind of broad influence over the Taliban that Washington has long accused it of having. U.S. President Donald Trump has repeatedly signaled his intention to wind down America's longest conflict, declaring Tuesday in his State of the Union address that great nations do not fight endless wars. They've facilitated some movement and travel to the discussions in Doha, the official said. One senior U.S. official, who declined to be identified, said of Pakistan's role in the talks We know it just wouldn't be possible without their support. (news.financializer.com). As reported in the news.

huawei activity: Surface Huawei is perceived as a threat in security and economy, and China's presumed technological espionage is considered to be dangerous in both sectors, according to Global Times China. This is why conflict with Huawei culminated at the end of last year. Why To which extent Do they fully share the same stance against the Chinese communication technology giant The conflict should be interpreted at three different levels, from surface to fundamentals, where US and European interests diverge. The US has fought Huawei activity since 2000, and mainly over security issues. While both have similar interests, the US has shown more aggressive behavior than Europe. Agreements between US companies and Huawei have been blocked, criticized or aborted by the US government. (news.financializer.com). As reported in the news.

investment agency: The candidates would join 42 companies that made the move last year, and the 18 early birds in 2017. ; I wouldn't be surprised if the largest Brexit wave is yet to come, Jeroen Nijland, who heads NFIA, said in a telephone interview, according to The Japan Times. It normally takes about six months to two years from the first conversation we have with a company before it makes a decision, and our pipeline is now bigger than in earlier years. About 250 companies are in talks with the Netherlands Foreign Investment Agency to potentially relocate activities to the country, according to a statement published on Saturday. The Netherlands has emerged as one of the winners in securing businesses that seek to leave the U.K. because of Brexit, vying with countries like Germany, France and Ireland. Without it, they simply can't operate in Europe, he said. The country, which bagged the European Medicines Agency an EU agency moving from London to Amsterdam is initially luring corporate entities in the financial and media sectors, both of which require permits to operate in the bloc, Nijland said. (news.financializer.com). As reported in the news.

pod-shaped fruit: Then take a small bite and let it melt over your tongue, according to The Japan Times. I'm at Bricolage Bread & Co. in Tokyo's Roppongi district, where Ogata is delivering a presentation about cacao the pod-shaped fruit whose fermented beans are used to produce the main ingredient in chocolate and Cacao Hunters Japan, the brand she helped to develop in Colombia. First sniff the surface, where most of the aromatics are concentrated. There, the company partners with various indigenous communities to source heirloom varieties of cacao for the Cacao Hunters line of premium chocolates. ; Different species of cacao have different characteristics. The roasted aromas, nutty notes and lime-like acidity are the flavors of fermentation, she explains. Some have more bitterness, others more sweetness. (news.financializer.com). As reported in the news.

investors: On the other end of the spectrum are investors oblivious to the risks, according to Market Watch. For both groups, investors are forgetting that marijuana stocks can be volatile. Once they get in, some begin to realize their positions are too big and find it hard to figure out what to do next. When I wrote How to potentially become a marijuana millionaire, albeit carefully, the most important word in the headline was carefully. Investors need an edge. Some will gain, but many more will lose. (news.financializer.com). As reported in the news.

market stresses: The news announced at the end of Chinese Lunar New Year holiday indicates that both China and the US are committed to implementing the consensus reached by the leaders of the two countries during the G20 summit in Argentina in last December to secure a ground-breaking trade agreement, according to Global Times China. Tensions and anxieties are starting to spike in the global market since the hard deadline of the final round of trade talks between China and the US is drawing near. The US team is due to arrive on February 11, a few days ahead of the trade talks scheduled in Beijing, Xinhua reported on Saturday. Market stresses are expected given the pivotal roles that the two countries play in global trade and economies. The Trump administration has been optimistic about the prospects of China and the US reaching a final trade agreement and the US stock market has seen a couple of surges to reflect those expectations. However, analysists around the world are generally optimistic about the possibility that agreement will be reached between China and the US. Although the US seems to have the idea of asking for higher prices at the last minute, it is still a common expectation among Americans that the trade war between China and the US can come to an end; and this expectation has already transpired into some political effect. (news.financializer.com). As reported in the news.

president: Looming large is a 12 01 a.m, according to Market Watch. Eastern Time March 2 deadline for an agreement to be struck between Beijing and Washington on their longstanding tariff dispute. It's a pivotal month from a geopolitical standpoint, Randy Frederick, vice president of trading and derivatives at Charles Schwab, told Market Watch during a phone interview. The U.K., meanwhile, is spiraling toward a March 29 scheduled exit from the European Union with or without a trade agreement in hand. On Thursday, President Donald Trump seemed to reject entreaties to meet Chinese President Xi Jinping to cement an agreement before the March deadline, when a 90-day truce ends and duties on some 200 billion in Chinese goods are expected to climb to 25% from 10% currently. Recent developments have cast more concerns over how both events will play out, raising the potential that the market reaction could be violent. (news.financializer.com). As reported in the news.

quarter: Germany shrank in the third quarter, and economists expect it to have grown very slowly, if at all, in the fourth, according to The Independent. France grew by 0.3 per cent in each quarter. Try this question out of the four largest European economies Germany, the UK, France and Italy which grew fastest in the second half of last year The answer is almost certainly the UK. We don't have the final figures yet for all the countries, but we know that Italy was in recession, with the economy having shrunk in both quarters. And the UK grew by 0.6 per cent in the third quarter and is expected to have grown by about 0.3 per cent in the final three months we get figures this coming week. But economic stagnation is a fact. This is not a political observation, and in any case figures always get revised so we should not take them too seriously. (news.financializer.com). As reported in the news.

blankfein: In Blankfein's case, the bonus began at 7m and nearly doubled, according to US securities documents, according to The Guardian. Beyond the bonuses, Goldman also said it could claw back compensation from the current chief executive, David Solomon, and two other current senior executives, president John Waldron and chief financial officer Stephen Scherr. The prestigious investment bank has announced that it could withhold millions of dollars in bonuses to former chief executive Lloyd Blankfein and two other retired executives depending on the outcome of ongoing inquiries into the Malaysian fund. 1MDB scandal explained a tale of Malaysia's missing billions Read more The bonuses were first approved in 2011 and the annual payouts depend on the firm's performance over the ensuing eight years. Solomon was paid 23m last year, including 15.4m in stock options. The board of directors wants shareholders to know it is not blind to the gravity of the situation, said one of the sources, adding that the message was not meant to be an admission of wrongdoing. The announcement on bonuses was intended as a message for shareholders who are upset at how the corruption scandal has tarred the bank's image at a time when it is working to build up its consumer banking business through the online platform Marcus, according to two people familiar with the matter. (news.financializer.com). As reported in the news.

european headquarters: Among those who have chosen to invest in the Netherlands are the Discovery Channel, Sony and Bloomberg, according to The Guardian. Japan seeking big concessions from Britain in trade talks Read more Sony announced last month it was moving its European headquarters to Amsterdam, as companies in the UK continue toprogress with contingency plans. The economic affairs ministry said it had lured 42 companies or branch offices and 1,923 jobs from the UK last year, as it increases its efforts to gain Brexit business. Its rival Panasonic has already moved to the Dutch capital. While Mark Rutte, the Dutch prime minister, recently said he did not see Brexit as a business opportunity, countries including Ireland, France, Germany, Belgium and Luxembourg have been actively looking for opportunities to capitalise on Brexit ever since the EU referendum. The government report said another Japanese company, the investment bank Norinchukin, was also moving to Amsterdam, along with the global content company TVT Media, the financial services providers Market Axess and Azimo, and the maritime insurer UK P&I Club. (news.financializer.com). As reported in the news.

flagship warehouse: In the early hours of that day, a fire had broken out in his company's flagship warehouse in Andover, Hampshire, according to The Guardian. The savage blaze burned for 48 hours, required 200 firefighters to bring it under control, and reduced the 45m building to a twisted, smouldering hulk. However, as Steiner was delivering his presentation in Goldman Sachs's London office where he worked as a bond trader in the 1990s about 70 miles to the west a key element of the Ocado operation was literally about to go up in smoke. Shopping, songs, TV, transport new tech has many sectors in disarray Read more Ocado had to abandon the 4,000-plus deliveries that usually leave the Andover depot daily in its distinctive food-emblazoned vans; but the fire has done more than spoil the Sunday lunch plans of customers in nearby Winchester and Salisbury. Investors worried that retailers, who have been queuing to buy its automated warehouse technology, would take fright at the vulnerability the fire had exposed. Although Ocado's share price had recovered by Friday, the middle of last week saw more than 1bn wiped off the stock market value of the retail-turned-tech firm. (news.financializer.com). As reported in the news.

campaign saturday: This , according to MSNBC. Warren announces 2020 presidential Elizabeth Warren formally launched her presidential campaign Saturday with a call Elizabeth Warren announces 2020 bid for Senator Elizabeth Warren formally launched her presidential campaign in Lawrence, Mass., a distressed mill town about 30 miles outside Boston. (news.financializer.com). As reported in the news.

european football: The trend will be highly pleasing for John W Henry and co., with the figures ending on May 2018 showing a rise of 85m on the previous year, according to The Independent. Though that season there was no European football, emphasising the need to make the top four at least. The Reds have prospered despite splashing out 190m on players, topping the previous record by Leicester 92.5m before tax after their title win and Champions League run. 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 biggest factors in the number will be the run to Kiev, where they lost the Champions League final to Real Madrid, as well as the enormous sale of Philippe Coutinho, whose move to Barcelona may eventually fetch the Reds 142m. Jurgen Klopp was backed heavily, with that money being pushed back into the first team squad, including the signings of Mohamed Salah, Alex Oxlade-Chamberlain, Andrew Robertson, Dominic Solanke and Virgil Van Dijk- who became the world's most expensive defender at 75m. Though only a portion of that via an instalment contributed to the 137m accumulated from player sales. (news.financializer.com). As reported in the news.

ftse ukx: How are markets performing FTSE 100 UKX, -0.32% dipped 0.2% to 7,107.54, after finishing down 1.1% on Thursday, according to Market Watch. For the week, the index is off 0.5%. That marked the largest one-day percentage decline since Thursday, Dec. 27, 2018. Meanwhile, investors prepare themselves for next trade move between U.S. and China. The pound GBPUSD, -0.0849% firmed up from earlier losses, fetching 1.2960 from 1.2953 late Thursday in New York. U.S. stocks were set for a weaker session, after Thursday's losses, while selling was also widespread in Asia. What's driving the markets Trade deal jitters returned after President Donald Trump said Thursday that he had no plans to meet with Chinese President Xi Jinping before a March 1 trade-deal deadline. (news.financializer.com). As reported in the news.

indexes fare: How did major indexes fare The Dow DJIA, -0.25% fell 63.20 points, or 0.3%, to 25,106.33, adding 0.2% for the week, according to Market Watch. The S&P 500 index SPX, 0.07% rose 1.83 points to 2,707.88 and the Nasdaq Composite Index COMP, 0.14% gained 9.85 points, or 0.1%, to 7,298.20. The Dow Jones Industrial Average bucked the trend to finish the session weaker but posted weekly gains, extending its winning streak for a seventh week, highlighting the underlying strength in the market. For the week, the S&P 500 edged up 0.1% and the Nasdaq advanced 0.5%. Need to Know The stock market dip Keep buying, says Bank of America Merrill Lynch What drove the market The U.S.-China trade war remains a core issue for investors, with Asian markets picking up the selling baton after U.S. President Donald Trump confirmed reports that he had no plans to meet with Chinese President Xi Jinping before a March 1 trade-deal deadline. Read New White House message on China is that there's a long way to go before striking trade deal Adding to the tensions was a report that Trump is expected to sign an executive order next week banning Chinese wireless equipment from U.S. networks ahead of the MWC Barcelona conference at the end of this month. CNBC, however, reported that the U.S. is likely to keep tariffs at 10% rather than raise them to 25% as scheduled. (news.financializer.com). As reported in the news.

gr ie: Shares in Tata plunged by as much as 30 per cent the biggest drop in 26 years after the company revealed the figures, 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 problems largely stem from the Jaguar unit, which makes up the bulk of Tata's revenue. The group reported a loss of 270bn rupees 2.9bn for the third quarter of this financial year, the biggest loss recorded in Indian corporate history. The group said the automotive industry is facing significant market, technological, and regulatory headwinds and added that investment in new models and technology remains high. Jaguar Land Rover announced 4,500 job cuts earlier this year, the majority of which will affect UK workers. Given the muted-demand scenario the company warned that JLR is set to swing to a loss this year due to weak sales, contrasting sharply with expectations that the British carmaker would break even. (news.financializer.com). As reported in the news.

growth trade: Given it's Friday and lots of investors want to see if this move down has legs, there may not be too many too many bravehearts out there ready to dive back in, according to Market Watch. At least that's how things are shaping up. Wall Street met a wall of selling on Thursday, though nothing like the ugly days of December, as worries about global growth and trade got together and collectively blew up confidence a little. As for hand-wringing over the latest developments on U.S.-China trade talks, some have had quite enough. Trump isn't going to meet Chinese President Xi until after the deadline, so the market goes down. It's been a year now. (news.financializer.com). As reported in the news.