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

iranian protests: Sadly, some of our leading European partners have not been nearly as cooperative on Iran as countries in the Gulf have been, Pence said in an address to the ministerial, according to CNN. Referring to Iranian protests in 2009, the vice president said, The world missed an opportunity last time to confront the regime, but not this time. Vice President Mike Pence cast Iran as the central driver of all regional instability as he addressed the 62 countries gathered in Warsaw and ripped into Europe for its refusal to leave the Iran nuclear deal and join Washington on increasing sanctions on Tehran. I don't rule anything out' Read More Israeli Prime Minister Benjamin Netanyahu, after a public appearance with Pence Thursday, told NBC that Iran has to be countered and it has to be countered now. A day earlier, the Israeli leader's office released, then softened a statement saying he had met with Gulf leaders to discuss their common interest in war with Iran. Asked if that means regime change, Netanyahu said, I don't rule anything out. (news.financializer.com). As reported in the news.

police raids: A Federal Court trial continued on Thursday to hear evidence about the lawfulness of Australian Federal Police raids on AWU headquarters in Melbourne and Sydney in October 2017, according to Nine News Australia. The raids were part of investigations into the legality of 100,000 in donations the AWU made to left-wing lobby group Get Up! in 2006 when the union was led by now-Opposition Leader Bill Shorten, who also sat on the lobby group's board. To improve your experience update it here News National Cash due to testify at AWU raid court case By AAP1 51pm Feb 14, former staff member of Senator Michaelia Cash is being pressured to reveal what he knew of raids on Australian Workers' Union offices, while the senior Liberal remained tight-lipped in parliament. Senator Cash's then-chief-of-staff, Ben Davies, was asked who told him the raids would occur, but refused to answer. I do not wish to give evidence willingly. I respectfully decline to answer on the basis of self incrimination, Mr Davies told the court. (news.financializer.com). As reported in the news.

uk attorney-general: May will be in Brussels in the same week to meet the European commission president, Jean-Claude Juncker, according to The Guardian. The UK attorney-general, Geoffrey Cox, is expected to travel with her. Project Fur Brexit is a big blue monster, say the Dutch Read more The visit is likely to be highly unwelcome in Downing Street, and risks accusations that Labour is pursuing its own shadow negotiations, undermining the prime minister's hopes of fresh EU concessions. During a whistle-stop tour of the central figures in the Brexit talks on Thursday, Corbyn is also due to meet the European parliament's Brexit coordinator, Guy Verhofstadt. EU sources said Corbyn was expected to provide further details on his recent conditional offer of support for the prime minister's deal along with an update on the cross-party talks. He will also hold talks with senior figures in the socialist group in the European parliament, including Labour MEPs. (news.financializer.com). As reported in the news.

valerie: Another 21 Philpotts sandwich shops that were part of the Patisserie Valerie group have been bought by AF Blakemore & Son, the family-owned company which is the largest operator of Spar convenience stores in the UK. The two deals will save about 2,000 jobs, according to The Guardian. Patisserie Holdings the listed parent company of the two chains said they had been sold for 13m in total, a fraction of the 450m the group was once worth. Almost 100 cafes will be rescued in the deal, funded by Causeway Capital Partners. The company fell into administration in January, three months after a black hole emerged in its accounts which it blamed on potentially fraudulent accounting irregularities. Quick guide The lowdown on Causeway Capital Show Hide The Irish private equity firm Causeway Capital Partners has dared to go where many of its bigger rivals have feared to tread in by buying up the troubled Patisserie Valerie chain. A buyer for the group's five Baker & Spice cafes is still being sought but Patisserie Holdings said there had been strong interest. (news.financializer.com). As reported in the news.

wednesday: Officers responded to a call for a robbery at 7 p.m. on Wednesday, near Lawrence Ave, according to The Toronto Star. E. and Birchmount Rd. The most recent incident occurred Wednesday night, police said. A woman was depositing money at an ATM, when a man threatened her with a knife and demanded she hand over the cash, police said in a news release Thursday. Investigators describe him as six-foot with a medium build and a light complexion. Toronto police are searching for this man, who is a suspect wanted in connection with a string of knifepoint robberies at ATMs in Scarborough. (news.financializer.com). As reported in the news.

countries chip: The report urges the U.S. to advance such technology swiftly before other countries chip away at its technological advantage. ; Other nations, particularly China and Russia, are making significant investments in AI for military purposes, including in applications that raise questions regarding international norms and human rights, the report says, according to The Japan Times. It makes little mention of autonomous weapons but cites a 2012 military directive that requires humans to be in control. Outlined its first AI strategy in a report released Tuesday, the Pentagon called for accelerating the use of AI systems throughout the military, from intelligence-gathering operations to predicting maintenance problems in planes or ships. The U.S. and Russia are among a handful of nations that have blocked efforts at the United Nations for an international ban on killer robots fully autonomous weapons systems that could one day conduct war without human intervention. The strategy unveiled by the Department of Defense this week is focused on more immediate applications, but even some of those have sparked ethical debates. The U.S. has argued that it is premature to try to regulate them. (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, 1.89% 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.

gold bulls: With concerns over slowing global growth on the mind of many investors, Brexit drama, China slowdown fears and many other negative themes floating in the air, gold bulls are safe, he said in a note, according to Market Watch. April gold GCJ9, 0.27% edged up 1.10, or less than 0.1%, to settle at 1,315.10 an ounce. The risk-on' vibe sweeping across global markets and the stabilizing U.S. dollar are bad news for gold which tends to shine in times of uncertainty, said Lukman Otunuga, research analyst at FXTM. But gold has nothing to worry about in the longer term given the unfavorable market conditions and geopolitical risks bubbling in the background. The most-active contract had traded as high as 1,321.70. Gold has gained almost 3% since the end of last year based on the most-active contract as uneasy trade progress, grouped with a series of global growth downgrades and an expected pause in Federal Reserve rate-hike policy sent investors to seek cover in lower-risk pockets of the financial markets. The SPDR Gold Shares ETF GLD, 0.56% added less than 0.1%. The ICE U.S. Dollar IndexDXY, 0.13% a measure of the U.S. currency against a basket of six major rivals, was up 0.3% at 97.035. (news.financializer.com). As reported in the news.

festival: Photo Xinhua During the weeklong Spring Festival holidays that ended on Sunday, over 3 million trips were made to Northwest China's Xinjiang Uyghur Autonomous Region, an unprecedented 71 percent year-on-year growth, data from Xinjiang's tourism department shows, according to Global Times China. Over 2.18 million trips, or 72 percent, were made by locals in the region, and traveling has become a popular lifestyle for Xinjiang people to spend the most important festival for family reunion as a result of social development and stability, the department said. Kanas scenic spot attracts lots of visitors during the Spring Festival holiday with its pure snow scenery and various entertainment. Apart from traditional entertainment such as skiing, nearly 300 cultural and travel events were held in the autonomous region during the holidays, including exhibitions of intangible cultural heritage, opera performances, light shows, dragon dances and traditional temple fairs at major tourist sites. Winter is regarded as the off-season for traveling in Xinjiang, as temperatures are normally below -10 C or even hit -40 C in some areas. The trips generated 3.6 billion yuan 532 million a 74.4 percent growth over last year. (news.financializer.com). As reported in the news.

gr ie: On Wednesday, Ford warned that crashing out of the EU with no trade deal would threaten the future of its UK operations, 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 Such a situation would be catastrophic for the UK auto industry and Ford's manufacturing operations in the country, the company said in a statement. The US car giant employs 13,000 people in the UK including 5,000 in manufacturing roles at its Bridgend, Dagenham and Halewood plants and 3,000 at its research and development hub. We will take whatever action is necessary to preserve the competitiveness of our European business. Brexit casualties Show all 10 Created with Sketch. Created with Sketch. (news.financializer.com). As reported in the news.

indexes trading: Trump said Tuesday that he may not insist on a March 2 deadline in bilateral talks if the two countries are close to a compromise, according to Market Watch. The U.S. is slated to hike tariffs on 200 billion worth of Chinese imports on that date if no agreement is reached, according to the Associated Press. The news has also bolstered U.S. stocks SPX, -0.27% with major indexes trading at 2019 highs. The positive reaction to the possibility of a detente between the two economic superpowers underscores the impact that trade has had on the global markets, amid fears that a prolonged standoff could further weigh on economic growth beyond China and the U.S. China, the world's largest exporter, has already felt the sting of relentless trade tensions with its gross domestic product growing 6.6% in 2018, the slowest since 1990. Meanwhile, the trade war, a slowdown in China, tightening corporate credit conditions and U.S. politics are all tail risks that investors should be on the look out for, according to Michael Hartnett, chief investment strategist, at Bank of America Merrill Lynch. While the pace of China's economic expansion is nothing to scoff at, for a country with such a huge effect on international trade and economy, any hiccup could ripple across the globe. (news.financializer.com). As reported in the news.

malpass: The Trump administration has reportedly considered a number of candidates, which even included President Trump's daughter Ivanka Trump, according to some media reports, according to Global Times China. Eventually, after a month of careful consideration, on February 6, Trump nominated David Malpass, a top Treasury official, to be the next president of the World Bank, calling him the right person for this position. Since then, speculation has been swirling as to who will take over Kim's post. With 40 years of experience in economics, finance, government and foreign policy, Malpass currently serves as undersecretary of the US Treasury for international affairs, overseeing the IMF and the World Bank. Undoubtedly, in the face of the new globalization, Malpass echoed Trump's views on a number of major issues such as, how to safeguard the superpower status of the US in the changing world and how to maintain the US' overwhelming superiority in terms of economy, technology and military. As a Trump loyalist, Malpass is suspicious of multilateral agreements and international cooperation, believing that multilateralism has gone substantially too far, deviating from the values of limited government, freedom and the rule of law. (news.financializer.com). As reported in the news.

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.