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

dow jones: The Toronto Stock Exchange Broadcast Centre is shown in Toronto on June 28, 2013, according to The Toronto Star. Aaron Vincent Elkaim / THE CANADIAN PRESS In New York, the Dow Jones industrial average was up 117.51 points at 25,543.27. The S&P/TSX composite index closed down 15.37 points at 15,626.73, after hitting an intraday high of 15,689.66. The S&P 500 index was up 8.30 points at 2,753.03, while the Nasdaq composite was up 5.76 points at 7,420.38. Florida Sen. We both started off on a leg up just on the hopes that there could be that breakthrough in that trade war with China, and also the president saying that they're moving closer to avoiding a government shutdown, but that kind of faded, said Jayson Moss, research analyst at Franklin Bissett Investment Management. (news.financializer.com). As reported in the news.

generation xers: It found that millennials and generation Xers are delaying both retirement savings and paying off credit card and student debt in order to afford homes, with 78 per cent expecting homes to match or outperform other financial investments over the next five years, according to The Toronto Star. In Toronto, that number rises to 83 per cent.A new study found that young families in Canada are delaying both retirement savings and paying off credit card and student debt in order to afford homes. The study is based on a survey of 1,743 families headed by adults aged 20 to 45. Sean Kilpatrick / THE CANADIAN PRESS FILE PHOTO But the biggest barrier to buying, cited by 33 per cent of families, is the expense of day-to-day living groceries, rent and utilities. Increasingly, it is the essentials in life that are absorbing most of everyone's income, Henderson said. That's a concerning trend, said Sotheby's CEO Brad Henderson. (news.financializer.com). As reported in the news.

media: The Senate voted 35-27 on Wednesday to order her to make the statement before question time at 2pm on Thursday, according to Nine News Australia. It comes after her former media adviser David de Garis admitted in Federal Court damaging Labor leader Bill Shorten partly motivated him to tip-off media about the raids on Australian Workers' Union headquarters in 2017. To improve your experience update it here News National Senate orders Cash to make AWU statement By AAP5 53pm Feb 13, frontbencher Michaelia Cash has been ordered to make a five-minute statement to the Senate concerning leaks from her office about raids on union offices. Pauline Hanson and her One Nation colleague Peter Georgiou were among the crossbench supporters of the motion forcing Senator Cash to make a statement to the upper house. The motion calls on her to correct the record over the incident. The motion noted Senator Cash had previously told a Senate hearing Mr de Garis got information from a media source . But he told the court the minister's then-chief-of-staff Ben Davies was the source of his knowledge of the leaks. (news.financializer.com). As reported in the news.

morrison government: We have death and devastation at every turn' the flood massacre of Queensland cattle Read more Katter is one of the key crossbench votes Labor needs to recall parliament for two extra sitting weeks in March to discuss banking reforms, according to The Guardian. But Katter has a 200m commitment for water infrastructure from the Morrison government which could be at risk if he joins the insurrection. Scott Morrison confirmed on Wednesday he was working with Bob Katter on the reconstruction of the cattle industry in northern Australia as the independent MP laid out an ambitious series of demands including to abolish two key financial regulators and reduce debt for cattle farmers. The threat to the government receded on Wednesday when Andrew Wilkie who had previously supported an extension of parliament said that so few extra sitting days would not allow time to properly prepare, scrutinise and debate the necessary bills in both houses of parliament . Wilkie told Guardian Australia the change of heart came after a treasury briefing and seeing the Law Council's view. I'm sceptical that adding six days to the parliamentary sitting calendar would achieve any meaningful progress on legislating the bank royal commission recommendations, Wilkie said. It wants banking reforms referred to the Australian Law Reform Commission rather than rushed through in extra sitting weeks. (news.financializer.com). As reported in the news.

soundtrack: Additionally star Chadwick Boseman and director Ryan Coogler are each nominated for entertainer of the year, according to MSNBC. And Black Panther soundtrack single All the Stars is up for best music video, along with other nominations. Courtesy of Marvel Studios The nominees for the 50th annual NAACP Image Awards were announced today, with Black Panther scoring a leading 14 nominations across film and music. Other top projects nominated across film and TV include If Beale Street Could Talk and Black-ish with nine nominations each, Insecure and Seven Seconds with eight each, Blac KkKlansman with seven nods, The Hate U Give with five and Atlanta and How to Get Away With Murder with four apiece. Beale Street actress Regina King is also up for entertainer of the year. Black Panther, Beale Street, Blac KkKlansman, The Hate U Give are all nominated for outstanding motion picture along with Crazy Rich Asians. (news.financializer.com). As reported in the news.

march deadline: The Shenzhen Component Index gained 2.01 percent to 8,171.21 points, according to Global Times China. Boosted by optimism that a trade deal may be in the making, Asian stocks edged up across the board to reach a more than four-month high on Wednesday, Reuters reported. The benchmark Shanghai Composite Index rose 1.84 percent to close at 2,721.07 points. Japan's Nikkei average climbed 1.3 percent, to mark an eight-week high, while South Korea's KOSPI also gained 0.5 percent. If we're close to a deal I could see myself letting that slide for a little while, Trump said at a cabinet session, according to the Wall Street Journal. US President Donald Trump said on Tuesday that he could extend the March 1 deadline for increasing US tariffs to 25 percent for 200 billion of Chinese imports, for reaching a trade deal with China, but only if the two sides were close to a complete deal. (news.financializer.com). As reported in the news.

minds subscription: Che Donald, vice chair of the association, told The Independent that the loss of more than 20,000 officers since 2010 and slashed budgets were eradicating neighbourhood policing, 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 We're becoming a completely reactive service, we can barely keep up with demand from 999, Mr Donald added. Police Federation leaders said traditional British policing has been left on its knees and facing extinction after years of austerity. Neighbourhood and community policing is falling by the wayside. The teenagers murdered in London in 2018Show all 21 Created with Sketch. Created with Sketch. (news.financializer.com). As reported in the news.

star someone: The reaction in Ireland was a lot more mixed, according to The Independent. There was a natural lament that a football culture currently going through a crisis in terms of player production had lost an underage star and someone who already had three friendly caps and seemed to represent the future. Many in English football obviously celebrated, as they had secured a hugely promising talent for a problem position. It was precisely because of his caps the reaction went a lot deeper than whether a team could be built around Rice, touching on technical problems with Fifa's eligibility rules, and the much wider sociological issue of what nationality actually means. If you're a proud Englishman', the World Cup hero asked in relation to Rice's own words, then why play for us in the first place 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's a fair question that many of single nationality will struggle to understand. Irish legend Kevin Kilbane led that reaction. (news.financializer.com). As reported in the news.

state power: Hua's comments at a daily briefing were some of the sharpest yet in a growing feud over Washington's drive to convince other nations to shut Huawei out of their markets due to national security concerns, according to The Japan Times. Huawei is the world's biggest supplier of network gear used by phone and internet companies. Huawei's critics are conjuring up threats and misusing state power to suppress the legitimate development rights and interests of Chinese enterprises and are using political means to intervene in the economy, said Foreign Ministry spokeswoman Hua Chunying. ; All countries should deal with relevant matters in an objective, comprehensive, rational, and correct manner, rather than fabricating excuses of all kinds for one's own pursuit of interest at the cost of others, which is quite hypocritical, immoral, and unfair, Hua said. It insists that it is independent and poses no threat to the security of others, but has long been seen by some as a front for spying by the Chinese military or security services. On Tuesday in Poland, U.S. Secretary of State Mike Pompeo renewed a warning that the United States may be forced to scale back certain operations in Europe and elsewhere if countries continue to do business with Huawei. On that basis, the United States, Australia, Japan and some other governments have imposed curbs on use of Huawei technology, including smart phones. (news.financializer.com). As reported in the news.

use forum: Frank Pallone, D-N.J., chairman of the House Energy and Commerce Committee, said he isn't sure that Trump administration regulators are willing to hold T-Mobile to that promise. ; How can we be sure that consumers who can least afford to pay more are not harmed by the merger Pallone asked at a House subcommittee hearing Wednesday, according to The Japan Times. The deal would combine the nation's third- and fourth-largest wireless companies and create a behemoth roughly the size of industry giants Verizon and AT&T. Congress doesn't have authority to rule on the merger, but members are able to use the forum to ask pointed questions. Although T-Mobile says it won't raise prices for three years, Rep. Now that Democrats control the House, they have convened its first merger-review hearing in eight years. Complicating their argument is the fact that urban consumers are paying 22 percent less for cellphone service following AT&T's failed bid to acquire T-Mobile in 2011, a combination rejected by federal regulators as anti-competitive. T-Mobile US CEO John Legere and Marcelo Claure, Sprint Corp.'s executive chairman, defended the merger and said American consumers would get more and pay less. (news.financializer.com). As reported in the news.

ttc: With deeper pockets the province has always been better placed to own the TTC's subway lines but can the Ford government be trusted to upload the service and own up to the costs, Martin Regg Cohn writes, according to The Toronto Star. Bernard Weil / Toronto Star Possessed of big pockets and the big picture, the province has long been better placed to own the TTC's subway lines. For the answer is a foregone conclusion Of course Ontario should do it. Queen's Park has the ability to bankroll and borrow for big capital projects, unlike Toronto's restricted cash flow and perennial shortfalls. With the premier of the day directly accountable for subway expansion, he or she is more likely to fund a future relief line than plead poverty. The linkages in our interconnected megalopolis require us to expand subway planning beyond a Toronto-centric perspective. (news.financializer.com). As reported in the news.

power: The startling figure comes as Prime Minister Scott Morrison warned the passing of the medical refugee transfers bill today would weaken Australia's borders, according to Nine News Australia. Since the Coalition came to power in 2013, Australia has helped Indonesian authorities intercept 53 attempts to smuggle people here, 9News was told. To improve your experience update it here News World Warning of 14,000 asylum seekers 'ready to make boat journeys' from Indonesia By Richard Wood6 54pm Feb 13, 2019Facebook Tweet Mail Up to 14,000 asylum seekers in Indonesia could attempt unauthorised journeys to Australia after new laws were passed in parliament, federal government sources have claimed. Mr Morrison ramped up the rhetoric on border control earlier today when Labor, the Greens and four independents backed the bill in the Senate. AP/AAP The same legislation was passed in the House of Representatives yesterday. The leader of the Opposition in the Senate Senator Penny Wong, left, speaks to Senator Derryn Hinch after the passing of the Medivac bill. (news.financializer.com). As reported in the news.

supply chains: The group is committed to accelerating progress toward achieving the UN's sustainable development target of halving per capita global food waste at retail and consumer level and through production and supply chains by 2030, according to The Guardian. The UN estimates global food waste causes about 940bn 770bn a year in economic losses. The study is based on research for Champions 12.3, a group of political, business, NGO and farmers' leaders from across the world who have united to tackle waste, using data taken from 114 restaurant sites across 12 countries. It says a third of the world's food is wasted while one in nine people remain malnourished. The findings are published in a report from the World Resources Institute the business case for reducing food loss and waste restaurants. In addition, food waste accounts for 8% of global greenhouse emissions. (news.financializer.com). As reported in the news.

tim: In September Geoff Wilson boasted to investors that he had asked Tim Wilson, who chairs the House economics committee, to schedule inquiry hearings alongside Wilson Asset Management roadshow events to help investors protest against Labor's policy, according to The Guardian. Tim Wilson's franking credits roadshow gets elderly audience fired up Read more Burke questioned whether Tim Wilson had organised the committee's hearing schedule and locations at the behest of a person with a vested interest in the inquiry . This also raises the question as to whether the actions of the chair amount to an improper interference with the free exercise of his own committee's authority or functions, such as to constitute a contempt of the house, he said. On Wednesday Tony Burke, the manager of opposition business, asked the speaker, Tony Smith, to give precedence to a motion to refer Wilson, questioning whether he had harmed the dignity of the parliament and its committee system . Tim Wilson authorised a partisan website by Geoff Wilson, his first-cousin, once-removed, which garners submissions opposed to Labor's policy and signs submitters up to a Wilson Asset Management petition. Tim Wilson declared on the pecuniary interest register that he is a shareholder in two funds managed by Wilson Asset Management but failed to make a declaration in public hearings, including the 30 November hearing at which Geoff Wilson gave evidence. He questioned whether Tim Wilson had breached standing orders that no member may sit on a committee if he or she has a particular direct pecuniary interest in the matter under inquiry. Burke suggested that given Tim Wilson's shareholding through his self-managed superannuation fund, he may be impacted by the very policy his committee is inquiring into in his retirement. (news.financializer.com). As reported in the news.

trump: Trump said Tuesday he would need more time to study the plan, but he also declared that he was not expecting another shutdown this weekend when funding for parts of the government would run out, according to Nine News Australia. He also strongly signalled he planned to scrounge up additional dollars for the wall by raiding other federal coffers to deliver on the signature promise of his presidential campaign. To improve your experience update it here News WorldUS government shutdown Trump unhappy with deal but expects breakthrough by weekend By Associated Press3 32am Feb 14, mounting pressure from his own party, President Donald Trump appears to be grudgingly leaning toward accepting an agreement that would head off a threatened second government shutdown but provide just a fraction of the money he's been demanding for his Mexican border wall. I can't say I'm happy. But the wall is getting built, regardless. I can't say I'm thrilled, Trump said of the proposed deal. (news.financializer.com). As reported in the news.

border-security deal: How did major indexes fare The Dow Jones Industrial Average DJIA, 0.46% climbed 372.65 points, or 1.5%, to 25,425.76, while the S&P 500 index SPX, 0.30% added 34.93 points, or 1.3%, to 2,744.73, according to Market Watch. The Nasdaq Composite Index COMP, 0.08% advanced 106.71 points, or 1.5%, to 7,414.62. Meanwhile, the S&P 500 finished above its 200-day moving average for the first time in 46 days, marking its longest sojourn under the key trendline since March 2016, according to the Dow Jones Market Data Group. Read Morgan Stanley warns of a looming earnings recession What drove the market Democratic and Republican lawmakers reached a deal late Monday to avert another government closure after GOP negotiators agreed to a border-security deal that will involve far less money for an extension of the southern U.S. border wall than President Donald Trump has been demanding. Bilateral trade negotiations entered a second day in Beijing, with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer due to arrive Thursday for more high-level discussions. The tentative agreement, which involves 55 miles of new border fencing, still requires approval from Trump, who reportedly is not thrilled but stopped short of saying he will reject it. (news.financializer.com). As reported in the news.

coal unit: The TVA board will meet Thursday to consider whether to close the 49-year-old plant, which operated only intermittently last year because it was no longer needed to supply uninterrupted power known as baseload, according to The Independent. The board also is considering shutting down a 52-year-old coal unit at Bull Run near Oak Ridge, Tenn. Scott Olson/Getty Images By Steven Mufson Steven Mufson Reporter covering energy and other financial matters Email Bio Follow February 12President Trump set up a clash with an independent agency Monday evening with his call for the Tennessee Valley Authority to keep open an aging coal plant that buys much of its coal from a company chaired by Robert E. Murray, one of the president's major supporters. In a tweet Monday night, Trump said Coal is an important part of our electricity generation mix and TVAnews should give serious consideration to all factors before voting to close viable power plants, like Paradise 3 in Kentucky! But the TVA is leaning toward the closure of the Paradise and Bull Run plants precisely because they are not viable. The unit does not provide the level of flexibility needed to balance hourly, daily and seasonal changes in energy consumption, the agency said in a proposal. The agency has already said that closing the Paradise coal plant would have no significant effect. (news.financializer.com). As reported in the news.

earnings report: While investors applauded Cisco after its last earnings report as executives said tariffs from the U.S.-China trade war were not likely to slow growth and that the end of headwinds from memory-chip pricing was in sight, analysts appear less optimistic on enterprise spending seven weeks into 2019, according to Market Watch. On Tuesday, Morgan Stanley analyst James Faucette downgraded Cisco to equal-weight from overweight and reduced his price target to 51 from 49 on the believe that Cisco's security business is unlikely to offset deceleration in the traditional hardware cycle. When Cisco CSCO, -0.81% reports fiscal second-quarter earnings after the market closes on Wednesday, executives will provide a closely watched forecast from a company that is typically seen as a bellwether for tech and the economy. Even with the downgrade, Cisco shares were up 0.5% at 47.81 at last check Tuesday. In 2013, Cisco acquired cybersecurity company Sourcefire for 2.7 billion. Also, Faucette said the recent departure of Sourcefire founder Martin Roesch, who we think has been integral to the security roadmap and talent retention success, gives us additional pause. (news.financializer.com). As reported in the news.

friday: On Friday, the key market gauge tumbled 418.11 points, according to The Japan Times. The market was closed Monday for a national holiday. ; The Topix, which covers all first-section issues on the Tokyo Stock Exchange, ended 33.20 points, or 2.16 percent, higher at 1,572.60. The Nikkei 225 average soared 531.04 points, or 2.61 percent, to end at 20,864.21. It fell 29.63 points Friday. Ryuta Otsuka, strategist at the investment information department of Toyo Securities Co., attributed Tuesday's surge to buybacks by short-term players after stocks were oversold Friday. Repurchases boosted mainstay stocks of exporters, said Yoshihiko Tabei, chief analyst at Naito Securities Co. (news.financializer.com). As reported in the news.

nuro: We've spent the last 2 years building an amazing team, launching our first unmanned service, working with incredible partners and creating technology to fundamentally improve our daily lives, Nuro co-founder Dave Ferguson said in a release, according to The Japan Times. This partnership gives us the opportunity to take the next step in realizing our vision for local commerce and the broad application of our technology. The 940 million in financing from Soft Bank brought the total amount of funding raised by Nuro to more than 1 billion, with investors including Greylock Partners and Gaorong Capital, the company said Monday. ; The move comes amid surging interest in robotic delivery among companies ranging from small startups to retail giant Amazon. Last year, Nuro which includes team members who came from Google, Waymo, Apple, Uber, Tesla and General Motors began testing its boxy, driverless delivery vehicles in Arizona in a partnership with the large grocery store chain Kroger. Nuro's world-class team has successfully scaled their self-driving technology out of the lab and into the streets, Soft Bank Investment Advisers managing partner Michael Ronen said in the release. The service lets people place online orders and have them delivered by the robotic vehicles, which operate independently by are followed to make sure all goes to plan. (news.financializer.com). As reported in the news.

jobs revenue: Despite this increasing pressure, Vice Commerce Minister Qian Keming urged more competitive and creditworthy Chinese enterprises, including state-owned and private enterprises, to continue to invest abroad, according to Global Times China. Based on market principles and international conventions, Chinese companies should continue foreign investment cooperation, develop and grow stronger. The official said that additional scrutiny of Chinese companies by some countries in the name of national security has had negative effects on the companies' investments abroad. They should meanwhile create more jobs and revenue for host countries in order to achieve mutual benefits and win-win results, Qian said during the press conference. However, a growing number of foreign countries and regions have been on guard against Chinese investments. Amid a global downturn of transnational investment, which fell 19 percent in 2018, China's foreign investment rose 4.2 percent to 129.8 billion, according to the MOFCOM. It added that 405 merger and acquisition projects were completed with a total value of 70.26 billion. (news.financializer.com). As reported in the news.

movie-ticketing platform: Falling valuations risk denting investor enthusiasm for future funding rounds - potentially limiting the amounts startups are able to raise, according to Global Times China. One senior tech-focused dealmaker estimated that targeted valuations had fallen between 20 and 40 percent in China's tech space, over the last three months alone. Photo VCG Investors are bracing for a series of down rounds in China's much-hyped tech sector as weak stock markets worldwide and the country's economic slowdown weigh on the once-buoyant private markets. Maoyan Entertainment, China's biggest movie-ticketing platform by sales, became the latest example of weak starts among Chinese tech firms listing in the financial hub, as the Hong Kong initial public offering of the group, backed by Tencent Holdings Ltd, valued the company at 2.16 billion - more than a quarter less than the valuation reached in its last 2017 funding round. Shares in Maoyan Entertainment opened at HK 14.82 1.89 barely higher than the initial public offering IPO price of HK 14.8, which was already at the bottom end of the indicative range. Maoyan Entertainment fell 1.1 percent in its Hong Kong stock debut last week. (news.financializer.com). As reported in the news.

nrta notice: The National Radio and Television Administration NRTA said that starting Friday, web dramas and cartoon makers whose budgets exceed 5 million yuan 737,000 and filmmakers with programs costing over 1 million yuan must register with the administration, including genre, content and budget before production begins, according to a document from the administration's website in Central China's Hunan and Hubei provinces, East China's Zhejiang and northern Beijing Municipality, according to Global Times China. The NRTA notice said that after production, producers need to update their actual investment and expenses, their cast's pay and broadcasting platform. Photo CFP China's media watchdog is requiring web dramas and film producers, whose budgets exceed a certain level, to register, a move industry insiders hope would help curb actors' skyrocketing fees and improve programming. Producers who pass the review will receive a broadcast number to promote their works to advertisers and streaming sites. Each episode of a so-so quality web drama costs about 1 million yuan, he said. Five million yuan is not a large amount and most projects are qualified to register based on this standard, Li Jian pseudonym who works for a studio based in Tongzhou district in Beijing, told the Global Times on Tuesday. (news.financializer.com). As reported in the news.

car: Let's take a facts-first look at some claims in the President's speech, according to CNN. Green New Deal Read More I really don't like their policy of taking away your car, of taking away your airplane flights, of 'Let's hop a train to California,' of you're not allowed to own cows anymore. He also poked fun at the Green New Deal and prattled off his old line that China is paying billions into the US Treasury. Lot of problems. Alexandria Ocasio-Cortez of New York to fight climate change through drastic economic and regulatory means. Trump is taking aim at the Green New Deal, a resolution introduced by Democratic Rep. (news.financializer.com). As reported in the news.

breweries: It was not just the relationship itself that had me stunned it was the fact that Heineken was brewing beer there at all, according to The Guardian. I knew the company was doing business all over the world, and I had some vague notion that it would have breweries outside the Netherlands, but I had never realised the scale 165 breweries in more than 70 countries, including this north African autocracy. During my reporting, I discovered that Heineken maintained close ties with the kleptocratic family clan that had ruled Tunisia for almost 25 years. The following year, I decided to begin work on a book about Heineken's operations in Africa. A woman who had done an internship at Heineken told me she chose to apply to the company because of its corporate social responsibility, and she waxed lyrical about the combination of idealism and no-nonsense business . I went through Dutch news archives and found enthusiastic stories about the company's work in Africa, with headlines like Heineken is Helping . In total, I spent six years researching Heineken in Africa. When I told people in the Netherlands about my plan, I was mostly regaled with positive stories. (news.financializer.com). As reported in the news.

family: Sarah McFadyen was forced to make a choice when her Catholic church in Melbourne kicked her and her family out when she revealed her child was trans, according to Nine News Australia. She simply asked for her son, Jack, who was born Lyla and assigned female at birth, to be baptised but when she explained the circumstances around his recent social transition, the family was immediately shunned. To improve your experience update it 'Am I going to hell because I'm trans ' Inside the lives of Australian trans children - Part three By Kimberley Caines1 25pm Feb 12, 2019Facebook Tweet Mail It is something no mother wants to go through to be told by her church that her child isn't wanted. Seven-year-old Jack wearing his first suit. Supplied For eight months, Mrs McFadyen desperately tried to find another Catholic place of worship but door-after-door was slammed in her face. Supplied Jack at age three. (news.financializer.com). As reported in the news.