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

ceo: I have offered to resign and the board have been very supportive, and I have actually asked that I'll waive my bonus this year in response to what's happened, Donaldson said, according to The Guardian. The CEO did not confirm the size of his forgone 2018 bonus, which is expected to be detailed in the bank's annual report next month, but Donaldson took home a hefty bonus of 800,000 for 2017, which made up a bigger portion of his 1.5m pay package than his 650,000 salary. Craig Donaldson told the Guardian that he offered to resign after the mistake came to light, but will be staying after gaining the full support of the bank's board, which is chaired by its American founder Vernon Hill. The lender has been in the spotlight after an accounting blunder in Januarysent its shares plunging by 50%. Hundreds of millions of pounds of commercial property loans and loans to commercial buy-to-let operators had been wrongly classified in risk terms and should have been among its risk-weighted assets RWAs . The bank originally suggested it had discovered the issue itself, but it later emerged that the error was caught by the UK regulator. The share price went into reverse again on Tuesday after the new fundraising plan was announced, closing down nearly 16% at 13. Within days of the disclosure on 23 January, the bank's stock price fell from about 22 per share to a record low of 10.87, before recovering. (news.financializer.com). As reported in the news.

brexit: While that would postpone damage to the economy from crashing out on 29 March, it would not remove the risk of no-deal Brexit at a later date, according to The Guardian. Meanwhile, the continued cloud of uncertainty would act as a drag on the economy for a longer period. Companies across Britain now face the growing likelihood that the Brexit process could be delayed beyond the end of March, after Theresa May told parliament that MPs would get a vote on Thursday 14 March on extending the article 50 process if the Commons has not passed a deal by then, and if MPs vote to reject no-deal. Ahead of next month's vote on extending article 50, companies face the prospect of a potential double cliff-edge to plan around. A spokeswoman for financial firms in the City warned that an extension to article 50 could leave firms in limbo. It also comes after the government has in recent months issued repeated warnings telling firms to prepare for a no-deal Brexit next month. (news.financializer.com). As reported in the news.

northeast asia: In July 2018, South Korean President Moon Jae-in had visited India, according to Global Times China. What Modi said before leaving South Korea underscored the closeness in their ties, We regard the Republic of Korea as a valued friend, a nation with which we have a Special Strategic Partnership. Modi wrapped up his visit, his second to the country as prime minister, on February 22. South Korea is one of the largest sources of investment for India. Previously, India had no geopolitical interest in Northeast Asia. Seoul is drawn to the Indian market in sectors such as infrastructure, shipbuilding and manufacturing. (news.financializer.com). As reported in the news.

photo vcg: But the nation remained a high-priority market for the majority of US companies, a survey showed on Tuesday, according to Global Times China. China ranked as a first or top-three priority in 62 percent of members' near-term global investment plans, according to a survey released by the American Chamber of Commerce in China AmCham China . The percentage was higher than 2017, when it was 59 percent, or 2016, when it stood at 56 percent. Photo VCG Amid the China-US trade war, most American companies saw their profitability decline in China in 2018. The consumer sector especially values the Chinese market, with nearly 80 percent of the respondents ranking China as a top-three investment destination. The report offered some insights on the performance of US-based companies operating in China, as 12 percent of the respondents estimated their revenue growth decreased in 2018, compared with 7 percent in 2017. The survey was conducted in November and December 2018 and represented the views of 314 out of 771 AmCham China member company representatives. (news.financializer.com). As reported in the news.

president: President Recep Tayyip Erdogan was cracking down on the media using strong-arm tactics that included attacking publishers and detaining journalists, according to Deutsche Welle. At the time, Ergin himself was facing charges of insulting the president. Deutsche Welle Director General Peter Limbourg stated that Ergin was receiving the award because of his commitment to free expression and the fact that his newspaper was one of the few remaining independent voices in Turkey. Ergin shares the fate of hundreds of journalists in Turkey who are exposed to high risks every day in the struggle to maintain independent journalism and press freedom, Limbourg said. Freedom of speech is one of the most fundamental values of humankind, the journalist said. In accepting the award, Ergin stressed the importance of a free and independent media in holding the government to task and the role of free expression in democratic societies. (news.financializer.com). As reported in the news.

risk subpoenas: As the Finance Committee hearing got underway, Chairman Charles Grassley, R-Iowa, pointedly reminded the executives that it is a crime to provide false testimony to Congress, according to The Japan Times. Some of the companies initially had sought a private meeting to explain their pricing policies, but lawmakers refused and insisted the CEOs appear in public or risk subpoenas. ; Without a doubt, drug pricing is a complex issue, Grassley said in his prepared opening statement. The extraordinary public accounting was a sign that Congress and the White House are moving toward legislation this year to curb costs. But I think we should all be asking Should it be so complex We cannot allow anyone to hide behind the current complexities to shield the true cost of a drug. Ten companies accounted for half of all profits in the health care sector last fall. Ranking Democrat Ron Wyden of Oregon said in his prepared statement, You pharma executives are here because the way you do business is unacceptable and unsustainable. (news.financializer.com). As reported in the news.

trading day: Revenue rose 6% to 330 million, according to Market Watch. Analysts polled by Fact Set had expected earnings of 60 cents a share on sales of 347 million. WTW, -34.49% late Tuesday reported mixed fourth-quarter results and weak guidance, saying it had a soft start to 2019, and shares plunged more than 30%. The company said it earned 44 million, or 63 cents a share, in the quarter, compared with 63 million, or 91 cents a share, in the year-ago period. For the year, Weight Watchers said it expects revenue of about 1.4 billion and earnings between 1.25 a share and 1.50 a share. The stock ended the trading day up 0.6%, but shares were halted after the close. The analysts surveyed by Fact Set expect 2019 EPS around 3.38 on sales of 1.7 billion. (news.financializer.com). As reported in the news.

hassan rouhani: But for the president, Hassan Rouhani, the departure of such a close ally at a time of prolonged intense political pressure will be a serious blow, according to The Guardian. It will be the reaction of the Supreme Leader, Ali Khamenei, which will determine Zarif's fate. Iran's presidential chief of staff Mahmoud Vaezi denied the resignation had been accepted. He has threatened to resign before as the nuclear deal came under sustained criticism by hardliners, but never so publicly. By some accounts he was not even informed in advance about the visit. Iran's foreign minister Javad Zarif announces resignation Read more Zarif is quoted in the Iranian media as saying that the immediate cause of his abrupt offer to resign, announced in the middle of the night on Instagram, was the fact that he was not invited to meet Bashar al-Assad when the Syrian dictator visited Tehran on Monday. (news.financializer.com). As reported in the news.

executive order: The vote in the Democratic-controlled House comes on legislation to revoke Trump's executive order from earlier this month and would send it to the Republican-held Senate, where it would take only a handful of GOP defections to pass it, according to Nine News Australia. Trump is likely to prevail in the end since he could use his first-ever veto to kill the measure if it passes Congress, but the White House is seeking to minimise defections among the president's GOP allies to avoid embarrassment. To improve your experience update it here News World House to vote on measure revoking Trump's emergency order By Associated Press4 56pm Feb 26, are moving quickly to try to roll back US President Donald Trump's declaration of a national emergency to siphon billions of dollars from the military to fund construction of a fence along the US-Mexico border. Representative Joaquin Castro, Democrat, accompanied by other member of Congress, speaks about a resolution to block President Donald Trump's emergency border security declaration. But GOP vote counters are confident that the tally won't get near the two-thirds that would overturn a Trump veto. AAP The vote could be challenging for GOP lawmakers who view themselves as conservative protectors of the Constitution and the powers of the federal purse that are reserved for Congress. (news.financializer.com). As reported in the news.

boy: The boy was a 13-year-old chorister when he was molested by Pell at Melbourne's St Patrick's Cathedral in 1996 following Sunday solemn mass, according to Nine News Australia. The boy never told his parents about the abuse, but died in 2014 of a heroin overdose when he was aged 30. To improve your experience update it here News National Cardinal George Pell convicted of child sex offences By 9News Staff6 56pm Feb 26, 2019Facebook Tweet Mail The father of one of the boys molested by Cardinal George Pell will sue the cardinal or Catholic Church following the death of his son. Cardinal George Pell leaves the County Court in Melbourne today a convicted sex offender. AAP Now, given the guilty verdict - made public today following the lifting of court gag orders - the boy's father says Pell has blood on his hands . Shine Lawyers' head of specialist personal injury, Lisa Flynn, told said she believed the boy had been diagnosed with post traumatic stress disorder PTSD and depression following the sex attack. He plans to appeal. (news.financializer.com). As reported in the news.

history today: The field to replace him is now one of the largest in the city's history, according to CNN. Today, Windy City voters will choose a mayor from 14 candidates in a field that includes some of the most well-known Chicago names of the last three decades. Before Chicago Mayor Rahm Emanuel even announced he wouldn't seek re-election, a dozen people had already signed up to challenge him for the top spot. Among the hopefuls are a former police superintendent, the city schools CEO, a federal prosecutor and a few millennials who all say that they are best-suited to run a city still reeling from major scandals in the police department and offices of some of Chicago's most powerful aldermen. On the ballot are Bill Daley, former United States Commerce Secretary Toni Preckwinkle, Cook County Board president Garry McCarthy, former police superintendent under Emanuel Lori Lightfoot, former assistant US attorney Jerry Joyce, former Cook County state's attorney Paul Vallas, former Chicago Public Schools CEOGery Chico, former chief of staff to former Mayor Richard Daley Willie Wilson, business owner Susana Mendoza, former city clerk La Shawn Ford, Democratic member of the Illinois House of Representatives Robert Fioretti, former alderman Amara Enyia, community activist John Kozlar, attorney Neal S les-Griffin, CEO of the nonprofit Code NowSome candidates are hoping for 'Daley fatigue'Daley is arguably the most recognizable name in the bunch. Read More If no one wins at least 50% of the vote on Tuesday -- which seems likely, CNN affiliate WGN-TV reported -- then the two candidates with the most votes will square off in a runoff on April 2. (news.financializer.com). As reported in the news.

musk: In this June 14, 2018, file photo, Tesla CEO Elon Musk speaks at a news conference in Chicago, according to The Toronto Star. Stock market regulators are asking a federal court to hold Musk in contempt for violating an agreement requiring him to have his tweets about key company information reviewed for potentially misleading claims. The latest dust-up emerged late Monday when the Securities and Exchange Commission asked a federal court in New York to hold Musk in contempt for violating a 40 million settlement he begrudgingly reached with the U.S. stock market's chief regulatory agency five months ago. The request made Monday, Feb. 25, 2019 in New York resurrects a dispute between the Securities and Exchange Commission and Musk that was supposed to have been resolved with a settlement reached five months ago. Tesla's stock dropped about 4 per cent in after-hours trading Monday, reflecting investors' anxiety about the latest twist in the drama surrounding Musk. Kiichiro Sato, File / AP Photo Allegations that Musk broke the agreement by tweeting without company approval could renew a debate about whether he has become too reckless to continue as Tesla's CEO. That cloud has been hanging over Tesla, even though many analysts still consider Musk's vision to be an indispensable part of the electric car maker he co-founded in 2003. (news.financializer.com). As reported in the news.

apple aapl: Please click here for the chart comparing S&P 500 ETF SPY, -0.07% with the FAANGs Facebook FB, -0.30% Apple AAPL, 0.06% Amazon AMZN, 0.21% Netflix NFLX, 0.29% and Google GOOG, 0.52%GOOGL, 0.42% Please note the following The stock market has staged a strong rally in 2019, according to Market Watch. Please see The Dow Jones Industrial Average, at the current pace, is on track to hit 30,000 in April. Let's explore the issue with the help of a chart. Until late last year, FAANG stocks were the leaders in outperforming the market. The chart shows that Google which today is known as Alphabet and Facebook are also underperforming. The chart shows that former champions Apple and Amazon are now drastically underperforming. (news.financializer.com). As reported in the news.

bond purchases: The last time, of course, was the 2008 global financial crisis, according to Market Watch. Unlike then, today's underlying economic data remain strong, suggesting that a looming recession could come and go before we have even had time to measure it. But, given the market gyrations in recent months, they would do well to keep an eye on what really is different from the last time the business cycle turned. But that won't help investors looking to assess the potential risks and rewards of the next cycle, which will likely be shaped by unpredictable shifts in liquidity, politics, and technology. The major central banks have essentially stopped providing massive liquidity injections through bond purchases, and are now unwinding their balance sheets, albeit at varying rates. While academics convene conferences to analyze the legacy of quantitative easing QE by central banks over the past decade, investors want to know what the policy's reversal will mean for future financial conditions. (news.financializer.com). As reported in the news.

kickin tires: Martinez residents Jeff and Paulette Carpoff were listed as the owners of the company, according to The Independent. They also are listed as the owners of the Martinez Clippers, a team in the Pacific Association of Baseball Clubs, though the league's commissioner says they are unlikely to remain owners in the 2019 season. The documents were first revealed by Kickin' the Tires, a website devoted to NASCAR racing.DC Solar Inc., a Benicia-based solar company, filed for federal bankruptcy earlier this month. The solar company also sponsored Chip Ganassi Racing in the XFINITY series, but that team shut down operations after FBI agents raided the Carpoffs' home and Benicia business in December. The FBI froze bank accounts associated with DC Solar, forcing the company to lay off 100 employees, according to court records. The raids were in connection with an investment fraud investigation that centered on DC Solar, according to court filings. (news.financializer.com). As reported in the news.

kraft heinz: What can we learn from this Let's explore with the help of a chart, according to Market Watch. Chart Please click here for an annotated chart of Kraft Heinz KHC, -3.24% Please note the following The chart shows a big jump in the stock on the Heinz and Kraft merger. Still, he just suffered a multibillion-dollar loss on one of his high-profile investments. The market was excited about the involvement of Warren Buffett and his Berkshire Hathaway BRK.B, -0.20% in the deal. We wrote Consumer tastes are changing and neither company is aligned with the new trend. The chart shows that The Arora Report gave a signal to sell or short-sell Kraft Heinz on the news. (news.financializer.com). As reported in the news.

jm n: MedMen or the Company MMEN MMNFF A2JM6N rewrote history yesterday with the debut of a disruptive new commercial that chronicles the American history of cannabis, according to MSNBC. Supported by the most expansive integrated marketing campaign the company has executed to date, The New Normal is directed by Academy Award-winning storyteller Spike Jonze and features actor Jesse Williams, best known for his longstanding activism and starring role in Grey's Anatomy. MedMen or the Company MMEN MMNFF A2JM6N rewrote history yesterday with the debut of a disruptive... headline Med Men's New Commercial Chronicles the History of American Cannabis from Counterculture to Just Press Med Men's New Commercial Chronicles the History of American Cannabis from Counterculture to Just Culture AP NEWSTop to topics Business Wire Medical Health Marketing campaigns Business Jesse Williams Business Wire Spike Jonze MedMen's New Commercial Chronicles the History of American Cannabis from Counterculture to Just Culture February 25, 2019Jesse Williams in Med Men's The New Normal Commercial Photo Business Wire LOS ANGELES-- BUSINESS WIRE --Feb 25, 2019--Med Men Enterprises Inc. The ad furthers Med Men's vision where legalized and regulated cannabis creates a safer, healthier and happier world. This press release features multimedia. Founded in 2010, Med Men is known for its disruptive advertising campaigns, innovative approach to cannabis retail and progressive legalization efforts. (news.financializer.com). As reported in the news.

delay u.s: The TSX ticker is shown in Toronto on May 10, 2013, according to The Toronto Star. Frank Gunn / THE CANADIAN PRESS Trump tweeted that he had agreed to delay U.S. tariff hikes on China and that trade talks with the country were in advanced stages. A positive day in the equity markets, most specifically driven by a bit more optimism around the potential for furthering negotiations between the US and China on trade, said Craig Fehr, Canadian markets strategist for Edward Jones. Trade uncertainty between the two countries has been a significant overhang to the markets in recent months. The S&P/TSX energy index led gains with a 0.58 per cent rise as part of the broad gains that also saw financials, industrials and telecoms climb. The announcement helped lift the S&P/TSX composite index up 44.02 points to close at 16,057.03. (news.financializer.com). As reported in the news.

energy security: Labor- 10 billion for the Clean Energy Finance Corporation over five years.- 5 billion to set up an independent Energy Security and Modernisation Fund.- 31 million for an Energy Productivity Agenda.- 45 per cent emissions reduction target by 2030.- 50 per cent of power from renewables by 2030, according to Nine News Australia. AAP 2019Continue readingCONTACT USSend your photos, videos and stories to 9News contact 9news.au Auto news An in-depth discussion with the Australian Automotive Dealer Association - caradvice.au set Timeout function if !window. To improve your experience update it here News National Libs v Labor climate and energy policies By AAP1 53pm Feb 25, 2 billion boost to the Emissions Reduction Fund over 10 years, rebranded as the Climate Solutions Fund.- The Paris agreement target for emissions of 26 to 28 per cent below 2005 levels by 2030.- Renewable Energy Target, to deliver 33,000 gigawatt hours of additional electricity from renewable energy sources in 2020.- Continuing to fund the Australian Renewable Energy Agency until 2022, and investing what's left of the 10 billion Clean Energy Finance Corporation.- Default market prices for energy.- Underwriting new generation plan to inject more energy into the network. PLISTA window. PLISTA publickey item v Labor climate and energy ; function var 2000 ; Top Stories Pell behind bars'I've voluntarily gone homeless so I could be with my dog'Michael Cohen labels Trump as a 'racist, con man and cheat'27 minutes ago Exclusive Dog owner pleads guilty after vicious attack (news.financializer.com). As reported in the news.

maduro guaido: Opposition politician Juan Guaido, recognized by most Western nations as Venezuela's legitimate leader, has urged the bloc to consider all options in ousting Maduro, according to The Japan Times. Guaido will attend the gathering, as will U.S. Vice President Mike Pence. The Lima Group of nations is likely to reiterate its opposition to the use of force at the meeting in Bogota, attendees and diplomatic sources said. ; At least three people were killed and almost 300 wounded during protests and clashes on Saturday as U.S.-backed aid convoys attempted to enter Venezuela to deliver food and medicine. Unlike the Lima Group, the Trump administration has so far declined to rule out the use of military force. Venezuelans have never advanced so much towards the recovery of their democracy. We have the responsibility to redouble and intensify our support, Colombian Foreign Minister Carlos Holmes Trujillo said as the meeting began. (news.financializer.com). As reported in the news.

sunday evening: As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1, according to The Japan Times. That spurred a risk-on rally in Asia on Monday, even as a commentary from China's official Xinhua News Agency cautioned that the talks may face new uncertainties. Trump said he will extend the deadline beyond this week, citing substantial progress in the latest round of trade talks that wrapped up Sunday in Washington. ; The U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues, Trump said in a Twitter posting Sunday evening. The U.S.-China dispute is just one of a lengthening worry list that threatens to dent global growth. Trump is considering whether to impose levies on imported vehicles on the basis they are a threat to national security. Here's a look at why the bears won't be hibernating just yet. (news.financializer.com). As reported in the news.

target: The addressable market size is a reflection of the potential number of consumers and valuation of the target industry of the project, according to The Independent. The competitive advantage s of the project and closest contenders both within and outside the blockchain space are weighted heavily in the analysis of the market opportunity.addressable target market sizeattractiveness of productexistence of industry leadersmoats or windows in marketcompetitive advantage of project The market opportunity s of a given project are assessed according to the addressable target market size and competitive advantages, if any, held by the project. (news.financializer.com). As reported in the news.

twitter extension: The euro was at 1.1355-1355, up from 1.1346-1346, and at 125.62-62, down from 125.65-66. ; The dollar rose above 110.70 in early trading after U.S. President Donald Trump suggested on Twitter an extension to Friday's deadline for a trade deal with China, according to The Japan Times. Supported by the strong opening of the Nikkei 225 stock average, the greenback temporarily rose above 110.80 toward midmorning trading. At 5 p.m., the dollar stood at 110.62-63, down from 110.74-76 at the same time Friday. The dollar then fell to around 110.60 on selling by Japanese importers for month-end settlements and stayed around that level for the rest of the day amid a dearth of trading pegs, traders said. Investors found it difficult to trade actively amid a widespread view that the dollar-yen pair is unlikely to move much, a foreign exchange margin trading service firm official said. The dollar-yen pair was supported by dip buying when the greenback approached the psychologically important line of 110.50, a currency broker said. (news.financializer.com). As reported in the news.

warburg pincus: Warburg, the 50-year-old global private equity firm which has former Treasury Secretary Timothy Geithner as its president, also boasts a long track record with IPOs, according to The Independent. James Poer, the longtime CEO of Austin, Texas-based Kestra which has 2,300 advisors across three subsidiaries gave the first official word that the deal had been reached to Financial Planning. Majority owner Stone Point Capital has agreed to sell its stake in Kestra to Warburg Pincus, while keeping a significant minority position. The parties didn't disclose the financial terms of the agreement. Minority stakeholder insurance firms Securian Financial and NFP would no longer be investors after the transaction, according to Poer. Poer said the transaction should close in the second quarter pending regulatory approval, roughly three years after Stone Point bought the stake from insurance firm NFP. Kestra did not publicly discuss the bidding, though Poer pledged to advisors late last year that it wouldn't be sold to a competitor. (news.financializer.com). As reported in the news.

offering details: He said should talks further progress, he and counterpart Xi Jinping could meet at his Mar-a-Lago resort to conclude an agreement, without offering details on timing or a fresh deadline, according to Xinhua China. In response, Asia stocks kicked off the last week of February on a positive note, extending a rally into a sixth day for the longest winning streak in a year, with Chinese stocks leading the way. President Donald Trump said in a Twitter posting Sunday evening he'll extend the deadline to raise tariffs on Chinese goods past March 1 as substantial progress has been made in the latest round of trade talks that just wrapped up in Washington. That's about 585 billion in value gained on Asia's regional benchmark, pushing its market cap to almost 18 trillion. The high-frequency engagement between Beijing and Washington at a senior level implies that both sides are looking for some form of settlement, Tai Hui, chief market strategist for Asia Pacific with JPMorgan Asset Management, wrote in a note Monday. The CSI 300 Index surged about 6 percent, its biggest gain since August 2015 and entered a bull market, while other key gauges including Japan's and Hong Kong's advanced to a lesser degree. (news.financializer.com). As reported in the news.

book: The opinions expressed in this commentary are hers, according to CNN. View more opinion on CNN. She is at work on a book about how women are conditioned to compete with one another and what to do about it. (news.financializer.com). As reported in the news.