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

administration: The hosts denounced his comments and even brought on former Obama administration EPA Administrator Gina McCarthy to blast him, according to MSNBC. The Trump administration has managed to downplay the impact of climate change again. ET hour, MSNBC anchors Stephanie Ruhle and Ali Velshi were aghast at Environmental Protection Agency Administrator Andrew Wheeler dismissing climate change fearmongering in a recent interview with CBS News. Andrew Wheeler, the new EPA administrator, insisted the effects of manmade global warming are not here yet, Ruhle complained as she teed up a clip of Wheeler talking to CBS correspondent Major Garrett in an interview aired Wednesday When you hear Democrats running for nomination in 2020 say we're in a catastrophic situation, is there anything unreasonable about those impressions or that rhetoric Yes, I think it is unreasonable. Following the soundbite, Ruhle ranted Well, for facts sake, climate change is here, happening right now. On the climate change, it is an important issue that we have to be addressing, and we are addressing it, but most of the threats from climate change are 50 to 75 years out. (news.financializer.com). As reported in the news.

car: UK car production falls for eighth month in row as China exports dive Read more In a ruling that brought an end to a three-year case, the court ordered that production of the Landwind, which cost 14,000 compared to the 40,000 Evoque, must stop immediately, according to The Guardian. JMC will also have to pay compensation to Jaguar, which is the UK's largest car manufacturer but is ultimately owned by the Indian conglomerate Tata. A court in Beijing ruled Jiangling Motor Corporation's JMC Landwind X7 had five specific features that were directly copied from the Range Rover Evoque, leading to confusion among customers. Jaguar Land Rover JLR described the ruling as a first in the global car industry. Keith Benjamin, JLR's head of legal, said We welcome this decision of the Beijing court, which further strengthens our confidence in investing in China and in the fairness of intellectual property adjudication in the Chinese courts. Western firms have long complained of cheap replicas being made in China but have struggled to secure legal redress. (news.financializer.com). As reported in the news.

congress: He's testified before Congress, participated in a symposium held by the Federal Trade Commission, and made speeches in which he's offered his own solution for how to reignite competition in the face of the power of Big Tech, according to The Independent. Whether you agree with him or not, his ideas are being taken seriously in the halls of Congress, and have helped spark a debate that could have enormous consequences. In recent years, he's also become one of the handful of economists who are trying to shake up the once-staid world of antitrust theory. What follows is a lightly edited and condensed version of a recent conversation we had about his ideas. Before we get to that, let's talk a little bit about the current antitrust standard the so-called consumer welfare standard. Joe Nocera I wanted to do this interview because you've been very vocal about ideas for preventing the big technology companies Amazon, Apple, Facebook and Google from abusing their immense power. (news.financializer.com). As reported in the news.

activist investor: Paul Singer's outfit may have pushed too hard when it came to the size of the Won7tn 4.7bn dividend it wanted, according to The Independent. Hyundai has vast reserves of cash, but its profits have been in decline and the global outlook is cloudy for the motor industry. Its investors rejected a demand for the appointment of several new directors and a huge special dividend, tabled by the activist investor, Elliott Advisers, which has become a major thorn in the side of the South Korean conglomerate. Given the latter, it's perhaps understandable that investors baulked and opted for the company's offer, even though it is worth less than a sixth of what Elliott was proposing. They have been facing criticism on a number of fronts, including the charge of taking minority investors for granted. It was on far firmer ground with its demand for a shake up in the boardroom to foster improved governance and greater accountability at the firm, one of the country's famed family controlled Chaebol that have long dominated the South Asian nation's vibrant economy. (news.financializer.com). As reported in the news.

education: The importance of investing in girls now for a future in economic growth and global stability, Malala said at a news conference after her short meeting with Abe at his official residence. ; The meeting preceded the joint summit of the World Assembly for Women and the W20 being held in Tokyo on Saturday, according to The Japan Times. Touching on the millions of girls who are out of education and ill-prepared to join the workforce, Malala spoke of her hopes for girls' education to be high on this year's G20 agenda, adding, as the chair of this year's G20, I hope PM Abe and Japan will lead on girls' education, and encourage all leaders to commit to new funding to prepare girls for the future of work. I spoke with the prime minister today about girl's education. I hope that he can use his G20 presidency to help my sisters in Japan, G20 countries and around the world to reach their full potential, because our world works better when girls go to school, she added. At the same news conference, Abe spoke of the inspiration Malala would bring to the table at the joint WAW/W20 summit. This year's G20 will be held in Osaka in June. (news.financializer.com). As reported in the news.

equity: In contrast, such investors are showing a need for yield that has led to inflows of more than 10 billion corporate debt, a big contrast to outflows of 13.2 billion from U.S. stocks, 4 billion from EU stocks and 0.4 billion from emerging market stocks, he wrote, according to Market Watch. Such equity fund outflows have been the norm throughout 2019, with U.S. equity funds posting 8 weeks of outflows over the past 12 weeks as investors continue to sell into recent gains for the U.S. equity markets, wrote Cameron Brandt director of research at EPFR Global, in an email. There's simply no love for stocks in today's environment among mutual fund and ETF investors, Michael Hartnett, chief investment strategist at Bank of America Merrill Lynch, wrote in a note to clients. With 11 weeks of the first quarter gone, flows for EPFR-tracked equity and bond Funds continue to head briskly in opposite directions, he added. Caption outside of wrapper for normal article images Brandt notes that these outflows exist in contrast to the performance of major stock benchmarks in the U.S. and in other developed economies. Year-to-date, bond funds have based on weekly data absorbed a net 118 billion while equity funds have seen over 60 billion flow out. (news.financializer.com). As reported in the news.

majority: Serial murder is defined by the FBI as two or more killings separated by a span of time, according to Nine News Australia. A majority of serial killings are sexually motivated, according to the FBI. Serial murders are relatively rare. To improve your experience update it here News World The serial killer cases which continue to haunt US police By CNN12 15pm Mar 22, a select list of convicted American serial killers and notable open or unsolved cases. Fewer than one percent of homicides during a given year are committed by serial killers, the FBI reports. DAVID BERKOWITZNickname Son of Sam Number of confirmed victims 6Related Articles California transformed by wildflower super bloom'Should some footage be hidden under lock and key A journalistic dilemma in the wake of ChristchurchUS AG Barr poring over Russia report Years and location 1970s, New York City Characteristics Initially claimed a neighbour's dog was possessed by an ancient spirit that commanded him to shoot people. For information about rampage murders, single incidents in which four or more people were killed, see Rampage Killings Fast Facts. (news.financializer.com). As reported in the news.

marketing manager: They are the most sought-after tickets in the world, said Claire-Estelle Bertrand, the marketing manager for Wimbledon Debenture Holders, a resale service, according to The Guardian. Not only do they give you the best seats to see the world's best tennis, but they grant you access into a rarefied world to meet other global influencers. The 2021-25 Centre Court debentures are expected to cost 100,000 each, and demand will far exceed the supply of 2,520 tickets that will go on sale at 10am on Thursday. Holders have made tens of thousands of pounds a year selling tickets for some days of the championships, or almost trebled their money by reselling the whole debenture. The debentures which were first sold in 1920 for a combined total of 100,000 about 4.5m in today's money to help fund the construction of Centre Court occupy all the seats on either side of the royal box on level two. This makes the debentures one of the best investments in the world, far outstripping the performance of stock markets, gold or fine wines. (news.financializer.com). As reported in the news.

market: The report covers the market landscape and its development prospects over the coming years, according to MSNBC. The report also contains a discussion of the key vendors operating in this market. Research Expert in Multi-Parameter Patient Monitoring Equipment has announced new analysis on Multi-Parameter Patient Monitoring Equipment Market Status 2018-2026 which has been prepared based on an in-depth market analysis with inputs from industry experts and top vendors in the business. The market analysis report speaks about the growth rate of Multi-Parameter Patient Monitoring Equipment market till 2026 manufacturing process, key factors driving this market with sales, revenue, and price analysis of top manufacturers of Digital Mapping Cameras Dmc Market, distributors, traders and dealers of Multi-Parameter Patient Monitoring Equipment Market. The process is analysed thoroughly with respect three points, viz. raw material and equipment suppliers, various manufacturing associated costs material cost, labour cost, etc. and the actual process. Download PDF Brochure of Multi-Parameter Patient Monitoring Equipment Market Research Report Patient Monitoring Equipment Market study covers market space, opportunities and threats faced by the vendors in the Multi-Parameter Patient Monitoring Equipment Market, opportunities, market risk and market overview of the Market. (news.financializer.com). As reported in the news.

nsw premier: The NSW premier is being backed by Sydney's major newspapers, according to Australian Broadcasting Corporation. Photograph Dean Lewins/AAP All the big Sydney newspapers have stood behind the Coalition for the New South Wales election on Saturday, a stark reminder of the lack of political diversity in Australian media. Plus the Mocker shocker Thu 21 Mar 2019 22.26 EDT Last modified on Fri 22 Mar 2019 05.21 EDTShare on Facebook Share on Twitter Share via Email Gladys Berejiklian with sisters Rita left and Mary right at Heathcote train station in Sydney on Friday. Gladys Berejiklian is a dour, workaholic and mostly competent technocrat but Michael Daley's Labor opposition is a wild bunch of political hucksters according to the Australian's editorial, which endorses the Coalition for the state election. The case for endorsing her arises not from anything she has done during the campaign, the Sydney Morning Herald said, rather unenthusiastically, as it too endorsed Berejiklian. The Daily Telegraph said Daley relied on stunts rather than substance and detail in his campaign and Berejiklian should be allowed to finish the job. (news.financializer.com). As reported in the news.

policy: POLITICO Pro Financial Services subscribers hold exclusive early access to the newsletter each morning at 5 15 a.m, according to MSNBC. To learn more about POLITICO Pro's comprehensive policy intelligence coverage, policy tools and services, click here. Facebook Twitter Email Print Trump landslide blowback By BEN WHITE bwhite politico; morningmoneyben AUBREE ELIZA WEAVER aweaver politico; 08 00 AM EDTEditor's Note This edition of Morning Money is published weekdays at 8 a.m. QUICK FIXTrump landslide blowback MM's story with Steven Shepherd on President Trump possibly winning big based on economic models drew a huge reaction all over TV, the Internet and my inbox. Story Continued Below Cap Alpha's Charles Gabriel in a client note T he analysis serves as a reminder that the president will hardly be a pushover and, in some respects, should start as a favorite. A quick sample. (news.financializer.com). As reported in the news.

hans-guenter ritter: Rhodium, which is corrosion resistant and used in vehicle catalytic converters and as an electrical contact material, has climbed beyond a 10-year high to 3,300 an ounce as of Friday, up from 2,460 at the end of 2018, according to data from specialty-chemicals company Johnson Matthey, according to Market Watch. That per-ounce price compares to 1,312.30 for gold GCJ9, 0.47% and 1,515.50 for palladium PAM9, -2.37%futures on Friday. Despite that, the precious metal hasn't attracted much attention from investors. Rhodium prices of less than 1,000 an ounce were far too cheap for such a rare and useful commodity, said Hans-Guenter Ritter, global head of trading for Heraeus Precious Metals. A price somewhere between 2,500 and 3,500 an ounce is fair value depending on demand pull, the platinum price, and rand-dollar exchange rate, given that mine supply is very highly concentrated to South Africa, said Ritter. Rhodium prices fell under 1,000 as recently as August 2017, according to Johnson Matthey. (news.financializer.com). As reported in the news.

fuel sector: The fossil fuel sector has ramped up a quite strategic program of influencing the climate agenda, Influence Map Executive Director Dylan Tanner said, according to The Japan Times. It's a continuum of activity from their lobby trade groups attacking the details of regulations, controlling them all the way up, to controlling the way the media thinks about the oil majors and climate. Despite outwardly committing to support the Paris agreement and its aim to limit global temperature rises, Exxon Mobil, Shell, Chevron, BP and Total spend a total of 200 million a year on efforts to operate and expand fossil fuel operations, according to Influence Map, a pro-transparency monitor. ; Two of the companies Shell and Chevron said they rejected the watchdog's findings. The report comes as oil and gas giants are under increasing pressure from shareholders to come clean over how greener lawmaking will impact their business models. At the same time, the International Panel on Climate Change composed of the world's leading climate scientists issued a call for a radical drawdown in fossil fuel use in order to hit the 1.5 C warming cap laid out in the Paris accord. As planet-warming greenhouse gas emissions hit their highest levels in human history in 2018, the five companies wracked up total profits of 55 billion. (news.financializer.com). As reported in the news.

insurance: Motor insurance fraud is up by 45 per cent with 21- to 30-year-olds the most likely age group to commit this kind of offence, 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 We'll tell you what's true. Fraudulent claims in household insurance are up by a staggering 52 per cent in the last year, with claimants aged 31-40 the biggest culprits, according to Cifas. You can form your own view. Subscribe now In fact, while fronting insurance recorded by Cifas' members is declining, the share of millennials who continue to do so increased by 18 per cent in 2018. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

streak thursday: On Wednesday, the key market gauge gained 42.07 points, according to The Japan Times. The market was closed Thursday due to a national holiday. ; The Topic index of all first-section issues closed up 2.72 points, or 0.17 percent, at 1,617.11, after rising 4.16 points the previous trading day. The 225-issue Nikkei average gained 18.42 points, or 0.09 percent, to end at 21,627.34, the best finish since March 5. The Tokyo market got off to a firmer start after active buying of technology issues let the New York market turn up to snap its two-day losing streak Thursday. In the afternoon, unabated buying interest, chiefly in technology stocks, helped prevent the market from bowing deeper to selling, also induced by drops in long-term interest rates. But later in the morning both the Nikkei and Topix gauges came under increased selling pressure amid the yen's strengthening against the dollar and sank into negative territory, brokers said. (news.financializer.com). As reported in the news.

wall street: The reaction was instant, with risky assets everywhere taking a hit and the yield on the 10-year German bond careened to zero, according to Market Watch. German Manufacturing declined to 44.7 vs 47.6 48 expected RIP global manufacturing. Just a day after a rally for Wall Street, Germany dimmed the lights on global growth with the worst manufacturing purchasing managers index numbers in nearly 7 years on Friday. Trinh Trinhnomics March 22, 2019 It's unusual to see such a widespread response to a piece of data like this but we have to remember that this is not a domestic problem. Here's what Fed Chairman Jerome Powell had to say about the region at this week's meeting In Europe...we see some weakening, but, again...we don't see recession, and we do see positive growth still. Germany may be impacted in an disproportionate way because of the size of its manufacturing sector but the causes of the contraction are global, Craig Erlam, senior market analyst with Oanda, told Market Watch. (news.financializer.com). As reported in the news.

ford: Premier Doug Ford speaks during a press conference at Queen's Park on March 20, 2019, according to The Toronto Star. Ford has issued a warning to teachers not to take any action to protest changes to education. If the head of the unions want to hurt the children of this province by doing walkouts and everything else, I'd think twice if I were them, Ford said Friday in Ottawa where he was touting the province's 1.2 billion investment in a local light rail transit project. Cole Burston / THE CANADIAN PRESS You know I think the world of teachers but I might differentiate between labour and labour leadership, public and private sector unions, the premier said. Ford's comments came after the Ontario Secondary School Teachers' Federation said a high school with 800 students would lose 11 teachers from 46 to 35 due to changes introduced by his government. I love the front-line teachers and we may not see eye to eye with the head of the unions because all they want to do is collect their union dues and start pocketing them into their pockets, he said. (news.financializer.com). As reported in the news.

toronto: Inc. says in a letter that it believes the US 1.5-billion premium offered to Goldcorp shareholders is unjustified given the company's poor performance.A Goldcorp sign is pictured at the Goldcorp annual general meeting in Toronto on May 2, 2013, according to The Toronto Star. Aaron Vincent Elkaim / THE CANADIAN PRESS The firm, which holds 14.2 million shares in Newmont, says it does not support the current takeover bid but could change its stance if the premium is adjusted. Hedge fund giant Paulson & Co. The British Columbia Investment Management Corp., meanwhile, says it will vote against the deal because of the high payment set to go to Goldcorp chairman Ian Telfer. Article Continued Below The B.C. investment group, which manages investments for the province's public sector, says the proposed payout to Telfer is misaligned with the interests of shareholders and sets a troubling precedent in the capital markets. Goldcorp recently said it would pay a US 12 million retirement allowance to Telfer, almost triple the US 4.5 million the company had previously disclosed he was entitled to. (news.financializer.com). As reported in the news.

year m: In the run-up to the US midterm elections last year 2m was spent on targeted Facebook and Instagram ads by global oil giants and their industry bodies, promoting the benefits of increased fossil fuel production, according to the report published on Friday by Influence Map. targeting by state Separately, BP donated 13m to a campaign, also supported by Chevron, that successfully stopped a carbon tax in Washington state 1m of which was spent on social media ads, the research shows, according to The Guardian. Edward Collins, the report's author, analysed corporate spending on lobbying, briefing and advertising, and assessed what proportion was dedicated to climate issues. Chevron, BP and Exxon Mobil were the main companies leading the field in direct lobbying to push against a climate policy to tackle global warming, the report said. climate lobby spending Increasingly they are using social media to successfully push their agenda to weaken and oppose any meaningful legislation to tackle global warming. He said Oil majors' climate branding sounds increasingly hollow and their credibility is on the line. They advocate low-carbon solutions but such investments are dwarfed by spending on expanding their fossil fuel business. They publicly support climate action while lobbying against binding policy. (news.financializer.com). As reported in the news.

year notes: Canada's main stock index is down sharply in early trading along with the major U.S. market benchmarks, according to The Toronto Star. Frank Gunn / Canadian Press file photo Concerns heightened after the yield curve, or spread between the U.S. three-month and 10-year notes, inverted for the first time since 2007. Weak manufacturing data from Europe and then in the United States had investors nervous on both sides of the Atlantic. That's a much-watched signal that's often viewed as a predictor of a recession, said Ian Scott, an equity analyst at Manulife Asset Management. Article Continued BelowU.S. manufacturing PMI data that slid to a 21-month low in March, coupled with weakness in Europe, are reminders that central banks are pausing interest rate hikes for a reason, Scott said. It's not that the Fed is calling for a recession this year, but there are investors who are starting to wonder if it could happen at some point this year, even accidentally, he said in an interview. (news.financializer.com). As reported in the news.

years: An average of all polls shows his approval rating among voters is currently 43%. A year ago, it was 42%. Two years ago, it was was 45%, according to CNN. Yet President Donald Trump's approval rating has remained steady over the last two years. (news.financializer.com). As reported in the news.

capital management: Meanwhile, MOFCOM is coordinating the current rules on foreign capital management, with input from foreign-invested companies being actively sought in the process, said Gao, according to Global Times China. The full text of the new foreign investment law was released on Wednesday, which provides a legal basis for various aspects of foreign investment ranging from classification to management. China's Ministry of Commerce MOFCOM is working with other departments to promote specific rules in accordance with the new law, ministry spokesperson Gao Feng told a press conference on Thursday. Overall the law offers foreign investors equal treatment, greater access and better legal protection. The foreign investment law, the first of its kind, will come into effect on January 1, 2020. The law was passed on March 15 by the 13th National People's Congress NPC China's top legislature. (news.financializer.com). As reported in the news.

courtesy visit: When Indian Prime Minister Narendra Modi visited Tokyo last October, the two governments agreed to cooperate on a range of objectives, from regional security to promoting digital industries, according to The Japan Times. Verma is looking to carry that vision forward. Indian software competence, married with Japanese hardware production if these two can merge together, you have embedded systems on very efficient hardware, which can lead to new products, Sanjay Kumar Verma said during a courtesy visit to The Japan Times on Wednesday. ; Verma, who began his current stint on Jan. 17, sees it as his mission to increase engagement between India and Japan in all sectors and fields. Democracy, technology, startups all these fields are open for global leadership and we need to collaborate with each other, he said. The combination of Japan's labor shortage and India's youthful workforce makes the countries a good match, Verma said, noting that over 60 percent of his country's 1.3 billion people are aged 35 or under. The digital economy is now becoming synonymous with India and Japan. (news.financializer.com). As reported in the news.

dow djia: How did the indexes fare The Dow DJIA, -1.77% rose 216.84 points, or 0.8%, to 25,962.51, marking its best daily gain since Feb. 15, while the S&P 500 index SPX, -1.90% climbed 30.65 points, or 1.1%, to 2,854.88 and the Nasdaq Composite Index COMP, -2.50% added 109.99 points, or 1.4%, to 7,838.96, according to Market Watch. Both the Nasdaq and S&P 500 logged their best gains since March 11. The market's strong upside momentum comes a day after the Federal Reserve signaled that it was unlikely to raise interest rates this year amid worries over slowing economic growth. What drove the market The S&P 500's information technology sector provided much of the buoyancy for the broader market, rising 2.5%. AppleAAPL, -2.07% shares were up 3.7% after Needham upgraded the stock to strong buy. Major benchmarks had ended Wednesday mostly lower with bank stocks battered as Treasury yields fell on the Fed's dovish outlook. But the gains weren't enough for the iPhone maker to wrest the crown for the largest company by market value from Microsoft Corp.MSFT, -2.64% which ended the day valued at 922.35 billion versus Apple's 919.90 billion, according to Fact Set data. (news.financializer.com). As reported in the news.

government: Two senior government officials, who spoke on condition of anonymity, said the idea was for the state-owned investment fund to work with the private sector when buying company stakes to foil unwelcome takeovers, according to Global Times China. One official said the state could buy a stake initially and then sell it on as soon as possible to private investors. Economy Minister Peter Altmaier proposed the fund in February as part of a more defensive industrial strategy, and three officials told Reuters that the government is working on draft laws so the fund could be up and running next year. The other official said in some cases, the fund could work with private investors from the start. This is changing now, the first government official said. In the past, Germany was too reluctant to define its national interests. (news.financializer.com). As reported in the news.

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.