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

crime: Domestic criminals have known for decades that Canada is la la land' for financial crime, but word has spread internationally too, according to The Toronto Star. Canadian real estate has attracted the attention and money of dubious origin of corrupt government officials and organized crime syndicates from across the globe. Our laws and regulations are full of cracks that can be exploited by criminals, and they appear to be doing so in growing numbers, the report says. More than 20 billion in anonymous money was used to purchase 50,000 homes in the GTA since 2008, accrding to a new report. Transparency International Canada studied all residential property transactions in the GTA since 2008 and discovered more than 20 billion in anonymous money entered the real estate market without any oversight or due diligence. Todd Korol / Toronto Star In the federal budget released this week, the government announced measures to combat money laundering through property in British Columbia, but ignored the Toronto market. (news.financializer.com). As reported in the news.

iconic brand: The offering priced at 17, above an originally expected range of 14 to 16. ; In a rare move, the New York Stock Exchange suspended its no jeans policy on Thursday to commemorate the event, transforming the floor from suits and ties into a sea of blue denim, according to The Japan Times. More than 120 employees from Levi's global offices, including its CEO, Chip Bergh, outfitted in denim, were on the trading floor. The stock, which is listed under the ticker LEVI, opened for trading on Thursday up 31 percent on very strong demand and recently changed hands at 22.90, up 5.90. On Wednesday, the NYSE even tweeted, Tomorrow we'll be in our 501s. The initial public offering comes as the iconic brand is staging a comeback under Bergh even as it faces increasing competition and a changing retail landscape. The 166-year-old company, which owns the Dockers and Denizen brands, previously went public in 1971, but the namesake founder's descendants, the Haas family, took it private again in 1985. (news.financializer.com). As reported in the news.

market share: Lyft is expected to price the deal next week and it's already oversubscribed, according to the New York Post, according to Market Watch. Lyft has grown its market share to 39% from 22% in the past two years, benefiting from the public relations and operational troubles at Uber, which is also planning to go public this year. That's the view of D.A. Davidson analyst Tom White in a note to clients initiating coverage of the stock with a buy rating and price target of 75, or 10% above the top end of the company's IPO price range of 62 to 68. Uber's former chief executive Travis Kalanick was forced out in 2017 after pressure from investors, following reports of a workplace culture that included widespread sexual harassment and discrimination and the use of special software to deceive regulators. This is good PR, but also good for business 80% of LYFT's New Active Riders in the fourth quarter of 2018 downloaded the LYFT app organically. But Lyft is deftly maximizing the benefits by aggressively differentiating its brand/mission around socially-conscious values and corporate responsibility, White wrote in a note. (news.financializer.com). As reported in the news.

market: Its sister ship is expected to arrive in China in 2020, according to Global Times China. Mario Zanetti, president of Costa Group Asia, told the Global Times that Costa Cruises has always been confident in the potential of China's cruise market, although players like Skysea Cruise Line are leaving the market. An analyst said that China and Italy are expected to deepen cooperation in the industry as Italy is set to join the China-proposed Belt and Road Initiative BRI . Along the Maritime Silk Road Costa Venezia Italian cruise operator Costa Cruise's first ship specifically built for the China market, is scheduled to arrive in Shanghai for the first time on May 18. Both passengers and ships declined in the China cruise market in 2018, and some foreign operators have left the market, according to the Annual Report on China's Cruise Industry 2018. During Chinese President Xi Jinping's state visit to Italy, which will start on Thursday, the two sides are likely to sign a memorandum of understanding on BRI cooperation, the Xinhua News Agency reported on Wednesday. The increasing investment further expresses the determination of Costa Cruises in this market and the commitment to continuously invest in it, Zanetti said. (news.financializer.com). As reported in the news.

tower records: This would be a great piece of evidence for futurists trying to argue that the Japanese music market is actually catching up to where most other nations are today, according to The Japan Times. But mucking that up is the total lack of info regarding physical sales, a still-major slice of the proverbial pie. According to a report by the Recording Industry Association of Japan, 2018 saw plays via platforms such as You Tube, Apple Music and Spotify overtake digital downloads. And recent changes only underline how important they are, even as different developments point toward other directions. ; Tower Records opened Tower Vinyl on the 10th floor of its Shinjuku store on March 21. It stands as the latest sign of a renewed interest in records in Japan. The space, once reserved for pop-up events, now houses 70,000 records, according to the company, with more than half being secondhand. (news.financializer.com). As reported in the news.

u.s.-listed shares: Biogen BIIB, -4.48% and drug development partner Eisai Co, according to Market Watch. Ltd 4523, -16.55%ESALY, 6.19% said the decision was based on the results of an interim analysis conducted by an independent monitoring committee. The move has put the stock on track for its biggest one-day percentage slide since August of 2008. The analysis concluded the trials were unlikely to slow cognitive and functional impairment in patients on aducanumab compared with those on a placebo. There have not been any new approved treatments in more than 15 years; the last was approved in 2003. U.S.-listed shares of Eisai also fell 28%. Aducanumab joins a long list of other Alzheimer's drug failures. (news.financializer.com). As reported in the news.

election: Canadian finance minister Bill Morneau released the 2019 Federal Budget on March 19, his last before the next federal election in October, according to The Toronto Star. Cole Burston / THE CANADIAN PRESS Here, then, is a look at some of the key measures in this week's federal budget the last one before October's election and a check of how realistic the Liberal government's wish list is, according to some experts. In an election year, the political ones are often even more so. The word deficit seemed to all but vanish from this week's budget, presented by federal finance minister Bill Morneau. But instead of discussing hard deadlines about when the deficit will be eliminated, the budget focused on balance. The deficits themselves, however are around for the foreseeable future. (news.financializer.com). As reported in the news.

getty images: By Alexander C. Kaufman Joe Raedle via Getty Images Not leaving his CO footprint up in the air. 3.8k Sen, according to MSNBC. Bernie Sanders' presidential campaign has become the first in the 2020 race to promise to offset the planet-warming gases produced while traveling the country. Open Search Log In Sign Up function var disable AdRotation 1 ; var ads Div // enable Queue 0 wait ForGlobal function return window.html AdWH && window.ad SetSync Called; function // override ads Pl in template if 'function' typeof window.ad SetPlId if 'undefined' typeof window.orig AdsPlId window.orig AdsPlId window.ads Pl; if 'undefined' ! typeof window.orig AdsPlId // override ads Net Id in template if 'function' typeof window.ad SetNet Id if 'undefined' typeof window.orig NetId window.orig NetId window.ads Nt; if 'undefined' ! typeof window.orig NetId ads Div.reload Count 0; var recovery Id ''; var needs Recovery recovery Id && recovery Id.length && kraken ad Block && kraken ad Block.active; var ad Id needs Recovery recovery Id '93318099'; // try ad Id ad Id; catch e // Override adtech call type var delivery type default ; var adtech call type ; switch delivery type case by request adtech call type ajax ; break; case text adtech call type text ; break; case iframe adtech call type iframe ; break; case iframe proxy adtech call type f ; break; case collapsed adtech call type fc ; break; default adtech call type fc ; break; var args 'lb', 'lb' ; if needs Recovery function ads Div //html AdWH ad Id, args 0 args 1 fileless ads Div ; ; else html AdWH ad Id, args 0 args 1 adtech call type, ads Div ; if !disable AdRotation ads Rotate Mult ads Div ; if typeof debugadcode 'function' debugadcode 'AdTech', placement 'leaderboard flex', mnid ad Id ads Div ; wait ForGlobal 'jQuery', function function ev, elem if elem && !elem.contains ads Div return; var refresh Rate 1; ads Div.reload Count ; if ads Div.reload Count % refresh Rate 0 && typeof ads Reload Ad 'function' ads Reload Ad ads Div ; ; ; ad SetInView '0' ; ; // wFG html AdWH //modulous queue closing ; if typeof HPAds ! 'undefined' POLITICS 03/21/2019 05 45 am ETBernie Sanders Campaign Becomes 2020's First To Promise To Offset Carbon Emissions In a Democratic field where it's increasingly hard to stand out on climate change, the Vermont senator is quick on the draw with a time-tested campaign move. In a statement to Huff Post, the campaign said it plans to fund renewable energy projects to compensate for the carbon dioxide spewed by the planes and automobiles in which Sanders and his staff will travel while they barnstorm the nation ahead of the Democratic National Convention in July 2020. We are proud to lead the way in the fight against climate change by acting boldly to move our energy system away from fossil fuels and towards sustainable energy sources. Bernie Sanders is a champion in the fight for climate justice and, like him, we know we need to address our emissions through action, not just rhetoric, Faiz Shakir, Sanders' campaign manager, said in a statement. (news.financializer.com). As reported in the news.

trip: California Sen, according to MSNBC. Kamala Harris plans to campaign in Texas, her first trip there since announcing that she was seeking the Democratic nomination. All market data delayed 20 Presidential Election Published 1 day ago Kamala Harris' Texas trip, Hickenlooper's 'embarrassment' featured by 'Daily Briefing' on Political Tales from the Trail By Frank Miles Fox Democratic presidential candidate Kamala Harris campaigns in Texas The Daily Briefing on Thursday featured Tales from the Trail, the best recent anecdotes from the contenders for the Democratic nomination for president. Two Texans, Beto O'Rourke and Julian Castro, are also seeking the presidency. I think anybody in this process needs to demonstrate how they will represent people of any faith, people of no faith, but I also think the time has come to reclaim faith as a theme, he said. She's set to travel to Tarrant County, which Donald Trump narrowly won in 2016, before holding a Saturday rally in Houston's Texas Southern University, a historically black school.ECONOMIC MODELS INDICATE TRUMP ON TRACK TO WIN RE-ELECTION IN 'LANDSLIDE' REPORT South Bend, Ind., Mayor Pete Buttigieg, an Episcopalian, spoke Wednesday with MSNBC's Morning Joe about religion. (news.financializer.com). As reported in the news.

service: Comcast Corp New now has 178.89 billion valuation, according to MSNBC. The stock increased 0.14% or 0.06 during the last trading session, reaching 39.53. Wright Investors Service Inc sold 11,337 shares as Comcast Corp New CMCSA 's stock declined 0.84%. The Wright Investors Service Inc holds 184,264 shares with 6.27 million value, down from 195,601 last quarter. About 1.52 million shares traded. It has outperformed by 1.62% the S&P500. Comcast Corporation CMCSA has risen 5.99% since March 21, 2018 and is uptrending. (news.financializer.com). As reported in the news.

trade numbers: And that was followed by good jobs and wholesale trade numbers in Canada, said Anish Chopra, managing director with Portfolio Management Corp, according to The Toronto Star. Financial numbers flow on the digital ticker tape at the TMX Group in Toronto's financial district on May 9, 2014. Investors appeared to have had a delayed positive reaction to Wednesday's dovish outlook by the U.S. Federal Reserve. Darren Calabrese / THE CANADIAN PRESS What you have at the end of the day is a supportive Federal Reserve, which is generally positive for markets, he said in an interview. It also surprised observers by announcing that it will stop scaling back its bonds portfolio in September, instead of in December.ADP's latest report on Thursday said Canada added 36,200 jobs in February while Statistics Canada said wholesale trade increased by 0.6 per cent in January, above analyst expectations. The U.S. central bank said it doesn't expect interest rate increases in 2019 and only one in 2020. (news.financializer.com). As reported in the news.

abe: In the planned talks, Abe and Trump are also expected to discuss how best to deal with North Korea in the wake of the collapse of a second summit between Trump and the North's leader Kim Jong Un in late February in Vietnam, according to The Japan Times. Abe and Trump are expected to affirm that the international community will coordinate in maintaining sanctions on Pyongyang until it achieves complete denuclearization. In the envisioned April 26-27 trip, Abe and Trump are likely to discuss trade negotiations the two governments may start the same month, as well as a planned visit by Trump to Japan in late May, the sources said. ; But the timing of Abe's trip could change, given the possibility that Trump and Chinese President Xi Jinping may hold a summit meeting in late April to reach a trade deal. On bilateral trade, the two leaders are likely to exchange views on what they aim to achieve in the negotiations. Abe and Trump are also expected to coordinate the U.S. leader's trip to Japan, which will likely take place from May 26 to 28. While the United States desires a free trade agreement that would cover a range of areas such as goods, services, investment and currency, Japan is insisting the two governments aim for a trade deal on goods only. (news.financializer.com). As reported in the news.

april notley: Alberta Premier Rachel Notley has called an election for April 16, according to The Toronto Star. Notley asked cheering supporters standing behind her in Calgary Tuesday morning if they are ready to fight for an Alberta that benefits everyone. Alberta Premier Rachel Notley makes an announcement in Calgary on Tuesday, March 19, 2019. Dave Chidley / THE CANADIAN PRESS Alberta NDP Leader Rachel Notley makes a campaign stop in Edmonton Alta. on Wednesday March 20, 2019. The plan an extension of incentives the government already offers aims to unlock 75 billion in investment, create 70,000 jobs and significantly increase the amount of petroleum processed in the province by 2030. Jason Franson / THE CANADIAN PRESS If you want an Alberta that is serious about diversifying, serious about acting like an owner, serious about making sure we are less vulnerable to a single resource sold at a single price to a single buyer then I ask you to re-elect me as your premier, she said at a fabrication and engineering shop where workers wearing hard hats stood behind her. (news.financializer.com). As reported in the news.

campaign: Prime Minister Justin Trudeau said Wednesday that the Liberals will happily run on their economic record in the upcoming federal election campaign, despite the billions of dollars they've added to the national debt, according to The Toronto Star. Adrian Wyld / THE CANADIAN PRESS What eats away at the Conservatives the most is that our approach is working, he said. At an afternoon stop outside a housing development in Ottawa's eastern suburbs, touting the measures in the new federal budget to make homes more affordable, Trudeau gave what sounded much like a stump speech, talking about historic investments in Canadians getting there after dismissing Conservatives' complaints that the Liberals should have to answer more for the SNC-Lavalin affair. Over the past three years, 900,000 Canadians created new jobs. And we've see 825,000 Canadians, including 300,000 kids, lifted out of poverty because of measures this government is taking. Over the past three years, we've seen the lowest employment in 40 years. (news.financializer.com). As reported in the news.

china: He came to China with his father and uncle via the Silk Road in 1271, according to Global Times China. The Travels of Marco Polo has had profound influence. This Venetian, who was born on September 15, 1254, is the most familiar Italian name to Chinese. Today, from China - the other end of the Silk Road - not only tourists go to Italy, but also engineers who design ports. A 20-meter deep offshore port will be built in the sea area 15 kilometers from the Malamocco Port and the offshore terminal project will be able to handle large container ships holding 18,000 to 22,000 TEUs. China Communications Construction Company signed a contract in February 2017 with Italy for the design of Phase 1 of Venice Offshore Port with 4C3. (news.financializer.com). As reported in the news.

u.s: Roughly half of the sum would go to Mexico, while the remainder would be divided among Honduras, Guatemala and El Salvador, Lopez Obrador said. ; That is investment to create jobs so that the people don't have the need to abandon their communities, their families, their regions, their customs, their culture, he said, according to The Japan Times. That is the dream that we want to convert into a reality. The previously discussed investments would aim to reduce immigration from Mexico and Central America by providing more opportunities in those countries. He said they were nearing an agreement and that he would consider traveling to the U.S. if there is a solid accord to sign. Several migrant caravans have drawn the ire of U.S. President Donald Trump. Mexico has been under pressure from the U.S. to address the flow of Central American immigrants through the country. (news.financializer.com). As reported in the news.

made-in-china products: There is anger in India, as people feel dissatisfied with China's decision to delay a bid at the UN to blacklist militant group Jaish-e-Mohammed's leader as a terrorist, according to Global Times China. Indian social media users may think that burning Chinese goods is the best way to send a message to Beijing. Hundreds of Indian traders reportedly burned Chinese goods on Tuesday, urging consumers to boycott those products. However, the facts show that this is not a good way to express their discontent, because the message did not attract much attention in China. Why aren't Chinese people too concerned about the moves against made-in-China products The boycott will have little impact on China's exports. A search for India on Weibo on Wednesday returned several news items and videos, but not one of the top 10 pieces was related to burning Chinese goods. (news.financializer.com). As reported in the news.

philippine secretary: In a keynote speech delivered on Wednesday at the Philippine Economic Briefing, Carlos G. Dominguez, the Philippine Secretary of Finance, who heads the delegation, called on Chinese investors to examine the opportunities for investment in the Philippines, according to Global Times China. The administration of Philippine President Rodrigo Duterte kicked off the ambitious Build, Build, Build infrastructure program in 2018 with the purpose of modernizing the country's roads, railways, ports and airports over the medium term. Photo Yu Jincui/CT A delegation of senior Philippine officials from key departments including finance, infrastructure and energy is in Beijing, in a bid to deepen cooperation with China and attract more Chinese investors. China is expected to play an important role in helping the country realize the program. The Philippine side is hopeful that an agreement on developing a 500-hectare industrial park will be signed with the group in the second half of this year. Vivencio B. Dizon, chairman of the Subic-Clark Alliance for Development, told reporters that several Chinese companies are involved in the development of the new Clark City, one of the big-ticket projects under the Build, Build, Build program, among which the biggest is China Gezhouba Group. (news.financializer.com). As reported in the news.

trade data: Monday was Japan's turn, according to The Japan Times. Shipments dropped 1.2 percent in February from a year earlier, the third consecutive slide and twice the dip envisaged by economists. Almost daily, trade data from somewhere show a deterioration. Many people view Japan's challenges as unique and the country as in a long-term fade. Exports to South Korea tumbled 14 percent. But it remains one of the biggest exporters and deeply enmeshed in the technology scene. (news.financializer.com). As reported in the news.

climate: The campaign has been inspired by the school climate strikes, in which 1.4 million young peopletook to the streets last weekend to voice their fears about the escalating ecological crisis, according to The Guardian. The UK Uncut-style protests aim to put pressure on Barclays, which organisers say is one of the leading European backers of fossil fuel projects, financing 15 fossil fuel companies with more than 30bn 22.6bn from 2012-17, including corporations pushing ahead the plans to develop the fracking industry in the UK. Global climate strike students take to the streets in pictures Read more John Taylor, a member of Momentum's national coordinating group, said Climate change is already devastating communities around the world, and fossil fuel companies and their financiers are to blame. Activists from the Labour-supporting Momentum group will team up with the environmental group People and Planet to stage more than 40 creative direct actions at Barclays branches in town and cities across the UK later this month. A decade ago the banks crashed the economy, now they're crashing the planet. Barclays highlighted investments made by the bank in environmental schemes and stated that in 2018 it had facilitated 27.3bn in environmental and social financing . A spokesperson added Our approach balances the need to accelerate the transition away from the most carbon intensive fossil fuel sources, with ongoing financial support for clients operating responsibly in energy sectors that are expected to contribute significantly to the world's energy mix. He said it was time ordinary people came together to face the banks that fund climate breakdown head on . He added Inspired by the young people participating in the youth climate strikes around the world, we'll be organising Labour members to take action against Barclays, who have funded fossil fuel companies to the tune of 30bn between 2012 and 2017. (news.financializer.com). As reported in the news.

development: It is not thought this development will lead to the creation of new jobs as it will be within Toyota's existing production capacity, according to The Guardian. However, it will help secure the future of the UK workforce of more than 3,000. The hybrid will be based on Toyota's Corolla model and made at its Burnaston plant in Derbyshire, with engines supplied by the company's Deeside factory in north Wales. The announcement on Wednesday comes amid fears for the future of Toyota's UK operations, following decisions by fellow Japanese carmakers Nissan and Honda to shift productionfrom the UK amid uncertainty over the future of the British car industry. This is good news for our UK plants, said Marvin Cooke, the managing director of Toyota Manufacturing UK. Seeking to produce additional volume for other customers is one example of all the efforts we are making to keep our UK manufacturing operations as competitive as they can be, he said. Scrapping UK grants for hybrid cars 'astounding', says industry Read more Johan van Zyl, Toyota's European chief executive, warned this month that he could not guarantee that British jobswere safe until the outcome of Brexit was decided. (news.financializer.com). As reported in the news.

minister: Prime Minister Justin Trudeau, right, and Minister of Finance Bill Morneau arrive in the Foyer of the House of Commons to table the budget, on Parliament Hill in Ottawa on March 19, 2019, according to The Toronto Star. Justin Tang / THE CANADIAN PRESS What's clear is that our approach has worked. Titled Investing in the Middle Class, the budget puts a bookend on the Liberals' four years in power with a dash of new spending and no promise to balance the books in the short term. We've put in place investments that allow families to have more money in their pocket, and they've put that money back into the economy and our economy has done well, Finance Minister Bill Morneau told reporters. Morneau said Tuesday's budget builds on the initiatives of the government's past budgets, notably the income tax cut and the child benefit, two measures that he said have meant an extra 2,000 a year for a family of four and have lifted almost 280,000 children out of poverty. The budget is filled with an array of measures that target Canadians across demographic lines and geography, giving Liberals plenty of opportunities to reannounce budget measures across the country in the weeks and months ahead. (news.financializer.com). As reported in the news.

opinions: The opinions expressed in this commentary are his own, according to CNN. In his research, Rahul focuses on the management of industry disruption and business ecosystems from a perspective of both established and emerging firms. (news.financializer.com). As reported in the news.

shareholder support: The groups also oppose the appointment of Peter Williams, the former Selfridges director, whom Dunkerton has put forward for election, according to The Guardian. In a note to investors, ISS said Given that the current issues at the company seem to have at least partially arisen as a result of combined decision-making by Julian Dunkerton and management, shareholder support for these proposals is not considered warranted at this time. ISS said Dunkerton's return should not be supported as Superdry's problems were at least partly the result of his decision-making, while Pirc said his presence on the board would make it insufficiently independent. Dunkerton, who owns 18% of Superdry but stepped down from its board a year ago to focus on his family cider business and a small chain of boutique pubs and hotels, is battling to return after a dive in the company's share price. Dunkerton has called a shareholder meeting, to be held on 2 April in London, at which shareholders will vote on whether to install him and Williams as non-executive directors. The value of the company, known for its Japanese-inspired graphic T-shirts, slumped after it put out a series of profit warnings which it blamed on an over-reliance on jackets and heavily branded items partly selected by Dunkerton. (news.financializer.com). As reported in the news.

cac px: How did markets perform The Euro Stoxx 600 SXXP, -0.06% rose 0.8% to 385.16, versus Monday's close of 382.11, according to Market Watch. The U.K.'s FTSE 100 UKX, 0.41% rose to 7,344.37, 0.6% above Monday's close at 7299.19. Banks and autos were the best-performing sectors. In Germany, the DAX DAX, -1.17% was the biggest gainer among the regional indexes at 11,822.91, jumping 1.4% to Monday's close of 11,657.06. France's CAC 40 PX1, 0.15% was briefly in the red, though just barely, before recovering to 5,441.20. After a spate of Brexit news-induced volatility Monday, the pound GBPUSD, -0.2122% was flat at 1.3256 from 1.3254. (news.financializer.com). As reported in the news.

director: Always maintaining a bicontinental existence, he went from the Los Angeles Opera to the Orchestre Symphonique de Montr al, where he will have served as music director from 2006 until 2020, according to Deutsche Welle. DW caught up with the jet-setting maestro during his final European tour with the musicians from Canada from March 11-25. Having occupied important positions in Berlin and Munich, Nagano is now the general music director at the Staatsoper opera house in Hamburg. Deutsche Welle After nearly two decades of working with the Montreal Symphony and13 years as music director, what have you accomplished with them, and what stands out most in your memory Having such a long relationship is really a privilege because some things can only develop with time and substantial depth. We're still discovering things about each other and are still inspiring each other. Yet our relationship today remains as fresh as it was nearly 20 years ago. (news.financializer.com). As reported in the news.