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

formby: Labour added that she would be taking a realistic approach towards her treatment and taking time off where necessary, according to The Guardian. Formby said I have been diagnosed with breast cancer and will be starting my treatment this week. Jennie Formby said she would continue to work as much as possible. Although this news has come as a shock to me and my family, I feel so grateful that I have the access and support from our wonderful NHS. Formby, 58, is close to the party leader, Jeremy Corbyn, and was appointed in March last year to succeed Iain McNicol. I feel pride that we are all working together for a Labour government that will change this. Before that she was a long-serving union official with Unite and its predecessor the TGWU. Breast cancer has had so much investment that outcomes are really positive, but I know that other cancers have less funding for research and treatment and that access to such good cancer care isn't the same all across the country, Formby said. (news.financializer.com). As reported in the news.

health services: Prime Minister Scott Morrison announced 496 million funding for treatment, hospital infrastructure, mental health services and medical research during an appearance in the city this morning, according to Nine News Australia. An injection of 80 million will help create a national cancer treatment centre at Peter Mac, Mr Morrison said. To improve your experience update it here News National Scott Morrison unveils new 'life-changing' cancer treatment centre in Melbourne By 9News Staff12 00pm Mar 25, 2019Facebook Tweet MailA new national cancer treatment centre is to be based in Melbourne, providing access to treatments previously only offered overseas. This investment will be life-changing for so many of our sickest Australians, including many children battling cancer. Peter Mac will invest 25 million to create the Centre of Excellence in Cellular Immunotherapy. It would also ensure the Victorian capital's position as a global leader in health and medical research. (news.financializer.com). As reported in the news.

isn t: So an LGFV default has long seemed on the cards, according to The Japan Times. But it just isn't happening. And some of the most troubled debtors are local governments' financing vehicles. Moody's Investors Service thought the first one might come in 2017. Stepping in with official assistance when needed will help local authorities sustain the development spending key to holding up national growth. Almost two years later, there have been some close calls including with a late payment by a unit owned by Qinghai province on a dollar bond last month that caused ripples through the investment community but no default. ; What it suggests is China's leadership isn't prepared for a borrower with a regional authority's imprimatur to renege on its principal, triggering higher borrowing costs across a swath of the world's third-largest bond market. (news.financializer.com). As reported in the news.

rice cookers: Iris Korea Co., its local unit, has so far handled LED lighting, cleaners and rice cookers among other products imported from its plant in Dalian on the northeastern coast of China, according to The Japan Times. The new factory mainly produces circulators, which the Japanese firm has manufactured in China and exported to other countries, including the United States. The company has invested about 7 billion 64 million to produce circulators, air purifiers, comforter dryers and storage items at the plant in Incheon, near Seoul, it said at an opening ceremony Friday. ; Aiming to meet increasing demand from online shoppers, the plant will double as a logistics center in addition to an existing facility in Gunpo, south of the capital, according to the company. In light of the lingering trade war between Beijing and Washington, it plans to initially produce 100,000 circulators per year at the new plant, avoiding the risk of additional tariffs on the goods. The local e-commerce market grew 22.6 percent year on year to 111 trillion won 97.8 billion in 2018, government statistics show. Sales of circulators in the South Korean market topped 1 million units last year, according to local media reports. (news.financializer.com). As reported in the news.

tokyo stocks: The broader Topix, which covers all first section issues on the Tokyo Stock Exchange, finished 39.70 points, or 2.45 percent, in the red at 1,577.41, according to The Japan Times. Every industry category in the main section lost ground, led by oil and coal product, nonferrous metal and machinery issues. Investors ditched shares and fled to the safety of bonds as risk assets fell out of favor on growing fears of a U.S. recession, sending global yields plunging. ; The Nikkei ended the day 650.23 points, or 3.01 percent, lower at 20,977.11, its lowest close since Feb. 15. Tracking slumps in U.S. and European shares late last week, Tokyo stocks opened sharply lower and later extended their losses to fall below the 21,000 threshold. The day's fall was the largest for the Nikkei since Dec. 25, when it closed 1,010.45 points lower. The Nikkei briefly lost over 700 points. (news.financializer.com). As reported in the news.

inmarsat: The investor group said it would keep Inmarsat's headquarters in the UK and maintain the company's spending on research and development, according to The Guardian. Inmarsat employs 800 people at its base at Old Street roundabout in London, out of a 2,000-strong global workforce. A consortium made up of London-based Apax, New York-based Warburg and two Canadian pension funds, the Canada Pension Plan Investment Board and the Ontario Teachers' Pension Plan Board, is to buy the FTSE 250 company for 7.21 a share in cash. The agreed deal comes nine months after Inmarsat rejected an offer from its US rival Echo Star and reignites concerns over takeovers of leading UK technology businesses following Melrose's controversial 8bn acquisition of the engineeringcompany GKN and the 24bn takeover of smartphone chipmaker ARM Holdings by Japan's Soft Bank. It supplied satellite services to the Ministry of Defence to improve ground communications for soldiers fighting in Afghanistan. Inmarsat, which has 13 satellites in orbit, provides mobile satellite services that underpin email, internet and video conferencing, as well as in-flight wifi. (news.financializer.com). As reported in the news.

officials: Avenatti was arrested overnight in Manhattan, law enforcement officials tell CNN. He appeared in court today and was ordered to be released on a US 300,000 bond, according to Nine News Australia. The criminal complaint unsealed in the New York case describes a rapid investigation that unfolded over the course of just the past six days, beginning March 19, and portrays Avenatti as the brash persona likely familiar to the public from his former representation of adult-film actress Stormy Daniels. To improve your experience update it US lawyer Michael Avenatti accused of attempted 28m Nike extortion By CNN10 54am Mar 26, 2019Facebook Tweet MailUS prosecutors in Manhattan and Los Angeles have charged attorney Michael Avenatti nearly simultaneously in two criminal cases Monday, unsealing complaints that alleged he attempted to extort more than US 20 million A 28 million from Nike and that he committed wire and bank fraud. According to the complaint, Avenatti met March 19 with attorneys for Nike and threatened to release what he said were allegations of misconduct by employees on the eve of both its quarterly earnings call and the start of the NCAA tournament. Avenatti also allegedly demanded that Nike pay US 1.5 million to an individual he claimed to represent. Avenatti would disclose the allegations at a press conference, he said, according to the complaint, unless Nike made millions in payments to him and an unnamed co-conspirator by hiring them to conduct an internal investigation, for which he later requested between US 15 million and US 20 million. (news.financializer.com). As reported in the news.

olympic committee: Since his first trip to the country in 1993, the prince has paid 10 visits to China in different capacities, ranging from a member of the International Olympic Committee, as well as crown prince and head of state, according to Xinhua China. His last China visit took place in September, when Xi rolled out the red carpet for his arrival at the Great Hall of the People. Though the two countries are far apart geographically, and differ in their national conditions, relations between the two countries have been gaining momentum thanks to the close connections of Prince Albert II the reigning monarch of the Principality of Monaco with China. The prince extended an invitation to Xi during the September visit, and the Monaco monarch said in an interview with Xinhua News Agency ahead of Xi's arrival that Xi's visit is highly important to Monaco. Since 2011, the Prince Albert of Monaco Foundation has been supporting the World Wildlife Fund in driving Tx2 the global goal to double the number of tigers in the wild. During last year's visit, the principality's reigning monarch also visited a bee farm and a Siberian tiger breeding center in Jilin province. (news.financializer.com). As reported in the news.

steve: CEO Tim Cook and a roster of big-name celebrities announced the company's much-anticipated entrance into the crowded video-streaming market at a press event Monday afternoon inside the underground Steve Jobs theatre at its Cupertino, California, headquarters, according to Nine News Australia. The company is producing its own lineup of films and TV shows that will be available via an updated version of the company's TV app on Apple devices. To improve your experience update it here News Technology Apple announces new streaming service, credit card at huge event By CNN6 07am Mar 26, its events are usually known for unveiling brand new gadgets, Apple has taken to the stage in California to introduce an Apple credit card, a radical reinvention of its Apple News' service and a new streaming service to rival the likes of Netflix. It is working with a number of existing streaming services, such as HBO, Starz and Showtime, to flesh out what's available there. Then the stars showed up after a dramatic black and white video featuring Ron Howard, Octavia Spencer, Reese Witherspoon, J.J. Abrams, M. Night Shyamalan, Sofia Coppola, Steven Spielberg and Hailee Steinfeld discussed the process of making movies and TV. Steven Spielberg appeared on stage, followed by Reese Witherspoon, Steve Carell and Jennifer Aniston who were promoting their new Apple series, The Morning Show. APPLE TVApple had former Sony executives Jamie Erlicht and Zack Van Amburg, whom Apple hired away two years ago, on stage to announce the company's original content investment. (news.financializer.com). As reported in the news.

yields: Stocks were also under pressure in Sydney with the ASX200 benchmark index closing down 1% to a four-week low, according to The Guardian. The European Union has bigger problems to deal with than Brexit Read more Equities were sold off across Asia Pacific. Bond yields also continued to fall across the world with Australian 10-year treasury yields falling to a record low on Monday of 1.756% in what analysts see as a strong indicator of a downturn hitting the resource-rich country. In Japan the Nikkei closed down 3%, bond yields slipped to their lowest point since 2016 and the yen seen as a safe haven investment was at its highest in more than a month. The FTSE100 was expected to dip 0.4% when trading begins on Monday morning. The Kospi index in Seoul dropped 1.8%, the Hang Seng was down 1.82% and Shanghai retreated 1.3%. David 10Y yields collapse further into negative territory 25, 2019 In commodities, Brent crude oil futures eased 47c to 66.56 in a sign of falling confidence in the world economy. (news.financializer.com). As reported in the news.

blood libel: Netanyahu insisted he reported holding the shares, then selling them, and paid the appropriate tax on the gain. ; There is no connection between my investment and the submarines, he said, according to The Japan Times. I sold my shares 1.5 years before the first submarines was sold. In question were shares Netanyahu held in a company that later became affiliated with the conglomerate, a holding he sold at great return on investment. The lie is that I made a profit from the submarines; that is blood libel. Benny Gantz, Netanyahu's top rival in April 9 elections, sought to pin Netanyahu's investments more directly to the sale of the submarines. Blood libel is a loaded term, as it historically refers to false accusations that Jews in the Middle Ages ritually sacrificed Christian children on the holiday of Passover. (news.financializer.com). As reported in the news.

court cases: Gig economy worker loses Pimlico Plumbers holiday pay claim Read more The report says there is evidence some companies continue to exploit workers whom they had wrongly classified as independent contractors, according to The Independent. Unions are caught up in court cases that are going on for seven years. Field, who is chair of the work and pensions select committee, is calling for a fast-track system for employment tribunals involving worker status cases, as well as the introduction of a single labour market regulator. The idea that the law is working is farcical, Field said. Field said employment tribunals should be given powers to fast-track worker status cases and recommend their findings are applied on a company-wide basis. His report comes after Gary Smith, a heating engineer from Kent, last week lost a bid to claim 74,000 in holiday pay despite spending years to establish he was a worker entitled to such benefits in a case against Pimlico Plumbers which ended in the supreme court. (news.financializer.com). As reported in the news.

display: And the U.S. smartphone juggernaut said it would front most of the 1.5 billion in costs, with Japan Display paying it back with a percentage of screen sales, according to two company sources. ; Four years later, Apple's shifting fortunes have brought Japan Display to its knees and threaten to end Japan's long run as a leader in display technology, according to The Japan Times. A slowdown in iPhone sales, combined with a proliferation of new iPhone models many of which use newer organic light-emitting displays OLED have left Japan Display's new factory running at half capacity. The plant would strengthen the company's position as the primary screen supplier for Apple Inc. as sales of the iPhone 6 soared. But it still owes Apple a majority of the construction cost, one of the company sources said. Desperate for capital, Japan Display is looking to an investor group, led by China Silkroad Investment Capital, for a bailout, two sources with direct knowledge of the matter said. He declined to give the exact amount. (news.financializer.com). As reported in the news.

gr ie: Pheu Thai, which was the governing party ousted by the coup, was next with 6.6 million votes, according to The Independent. A new party, Future Forward, which became popular with young voters, had scooped up nearly 4.8 million votes. With 89 per cent of votes counted on Sunday, the Palang Pracharat party was first with 7 million votes. Voters deserted the Democrat Party, Thailand's oldest political party, and its leader resigned. You can form your own view. 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. (news.financializer.com). As reported in the news.

jakarta: The two projects are being built at a cost of 2.6 billion. ; Today we will begin a new civilization by operating the first phase of mass rapid transit in Jakarta, Jokowi told several thousand guests and residents at the inauguration, according to The Japan Times. The line that opened Sunday includes seven elevated and six underground stations built by two consortia of local and Japanese companies. Minutes after inaugurating the 16-km transit line running south from Jakarta's downtown, President Joko Jokowi Widodo presided over a groundbreaking ceremony to mark the beginning of the second phase an 8-km northward line planned for completion by 2024. Passengers can ride for free until the end of the month, after which operator PT MRT Jakarta has said tickets will cost the equivalent of 70 cents to 1. Anies Baswedan to begin the next phase of construction on an east-west line covering a distance of 87 km this year. Jokowi, who is campaigning for re-election, told the crowd that he has instructed Jakarta Gov. (news.financializer.com). As reported in the news.

mine waste: Bill Roth / ADN archive , according to The Independent. The Pebble Mine could be the largest open pit mine on the continent, with an earthen tailings dam higher than the Washington Monument to hold mine waste for hundreds to thousands of years, according to an Environmental Protection Agency analysis. (news.financializer.com). As reported in the news.

brexit: After three years of tortuous debate, it is still uncertain how, when or even if Brexit will happen as Prime Minister Theresa May tries to plot a way out of the gravest political crisis in at least a generation, according to Nine News Australia. Marchers set off in central London with banners proclaiming the best deal is no Brexit and we demand a People's Vote in the biggest anti-Brexit protest yet. To improve your experience update it here News WorldA million people march in London to demand new Brexit referendum By AAP6 45pm Mar 24, of thousands of people opposed to Britain's withdrawal from the European Union have marched through central London to demand a new referendum. I would feel differently if this was a well-managed process and the government was taking sensible decisions. The country will be divided whatever happens and it is worse to be divided on a lie. But it is complete chaos, Gareth Rae, 59, who travelled from Bristol to attend the demonstration, told Reuters. (news.financializer.com). As reported in the news.

evgeny popov: In short, Russia did not elect Trump, said Evgeny Popov, the co-host of a pro-Kremlin political talk show, on Twitter, according to CNN. Mueller did not find evidence of collusion between Trump's team with Russia. Attorney General William Barr said Sunday the special counsel's investigation did not find President Donald Trump's campaign or associates conspired with Russia. The US Attorney General submitted a 4-page report on the special prosecutor's investigation report to Congress. Added Popov And what about sanctions for 'election interference ' Hello, Mueller! Alexey Pushkov, a prominent Russian senator, also did not mince words. D is for Disappointment. (news.financializer.com). As reported in the news.

houston: I'm declaring to you that by the end of my first term, we will have improved teachers' salaries so that we close the pay gap, the California Democrat said in Houston to a group of supporters, according to CNN. Because right now, teachers are making over 10% less than other college educated graduates and that gap is about 13,000 a year, and I am pledging to you that through the federal resources that are available, we will close that gap. Kamala Harris called Saturday for allocating a large federal investment to improve teacher salaries nationwide. Harris' proposal would be the largest ever federal investment in teacher pay, she said. Education occupations have unions that represent more than 37% of employees, according to the Bureau of Labor Statistics -- far more than any other occupations. As candidates sweep across key battle-ground states testing their economic messages with potential voters, Harris is the first to announce a plan to allocate funding to teachers a heavily unionized demographic that is reliably Democratic. (news.financializer.com). As reported in the news.

melanoma survivor: Last month Bronwyn Poulton, 33, attended a cancer fundraiser for a high school friend, according to Nine News Australia. Also in attendance was Jay Allen, a melanoma survivor who helped instigate the national ban on sunbeds. To improve your experience update it here News National Sydney mum may have escaped deadly melanoma thanks to strangers By Gabriella Rogers9News Staff10 49pm Mar 24, 2019Facebook Tweet MailA Sydney mother-of-two may have escaped the deadly effects of melanoma thanks to a chance encounter with strangers who prompted her into action. Both were strangers in the crowd, but Mr Allen spotted the sinister looking mole on Ms Poulton's arm. I just had this gut instinct to go over to her and say look I'm not an expert but have you ever had that mole checked he said. Despite some initial reluctance about approaching her, he walked over to the 33-year-old. (news.financializer.com). As reported in the news.

queimada grande: Having spent some good time in the Aussie bush, I always felt my respectful regard for snakes oh please, dear God, don't let me step on one'- was reasonable and life preserving, according to Nine News Australia. So, I'm sure you can sympathise with me when I say I was less than enthusiastic when informed of my latest assignment Ilha de Queimada Grande, an island off the coast of Brazil, was to be the destination, which sounded exotic and exciting until I was told its better-known name of 'Snake Island'. Initially I thought there was some journalistic licence at play over the naming rights of the place but sadly, no. To improve your experience update it here News National60 Minutes What I discovered on 'Snake Island'By Tara Brown 60 Minutes Reporter10 30pm Mar 24, by a quick straw poll, there seems to be two types of people in this world those who find snakes fascinating, and those who find them frightening, in a make-my-skin- crawl visceral kind of way. It is home to 4000 Golden Lancehead Vipers some of the world's deadliest snakes. It didn't help that my guide was Australian, Dr Bryan Fry, a self-confessed snake geek whose first true love was venomous snakes. The island itself is relatively small 1.5 kilometres long and only 500 metres wide, which to my mind made the chance of stepping on one of these deadly serpents very high, no matter how many private prayers I muttered. (news.financializer.com). As reported in the news.

worker: She turns back to the frail woman speaking softly from a hospital bed in front of her, according to The Toronto Star. But I don't want to go to Chilliwack, says 64-year-old Melanie Keays, her voice barely audible. Down the hall a female patient moans in pain, distracting the social worker momentarily. I know, but you have to work with us, the social worker replies. It's mid-November, and Melanie has been in this bed at Surrey Memorial Hospital for 10 days. We don't want to send you out on the street. (news.financializer.com). As reported in the news.

mike ashley: Just over six months after Mike Ashley's retail group bought the upmarketdepartment store chain out of administration for 90m, his apparent ambition to turn it into the Harrods of thehighstreet is hard to detect, according to The Guardian. Sports Direct deal saves four House of Fraser stores Read more As Ashley battles for control of Debenhams, he is trying to convince the struggling retailer's board and shareholders he's the only man with the first-class leadership skills to turn around its fortunes. No, this is not a branch of Sports Direct but House of Fraser in Richmond, one of the wealthiest suburbs of London. But a look around his existing department store empire might raise questions over those ambitions. The Guardian visited four House of Fraser stores this month, in Richmond, Wolverhampton, Birmingham and Sutton Coldfield, and found a grim state of affairs. In December, Sports Direct revealed House of Fraser was losing nearly 3m a week and some key suppliers, including Jigsaw and Edinburgh Woollen Mill group brands Jacques Vert, Jane Norman and Jaeger had pulled out. (news.financializer.com). As reported in the news.

photographs: You can fake conviction and you can fake emotions, according to The Guardian. You can fake a Twitter-petition and you can fake Facebook outrage. You can fake photographs and you can fake news. But you cannot fake an almighty crowd. The organisers claimed more than a million people were out; detractors inevitably argued a few thousand fewer. The numbers attending Saturday's march for a second people's vote on Brexit will no doubt be contested. (news.financializer.com). As reported in the news.

men: What is driving the record employment numbers Total employment has increased by more than a million in the past two years, according to The Guardian. Growth has been strongest among 50-to-64-year-olds, with a 682,000 increase for women and 506,000 for men. Is the return to levels of employment last seen in the 1970s a sign that the economy is more robust as Brexit approaches than many feared We asked three eminent labour market economists. David Bell a former adviser to the Scottish parliament on employment and economics professor at Stirling University says the extra number of women in jobs is probably linked to the sharp increase in the retirement age to 66, equal with men. A recent dramatic rise in working-age migrants to the UK is another reason, says John Philpott, former chief economist at the Chartered Institute for Personnel and Development. Steve Machin, head of the London School of Economics Centre for Economic Performance, says more people of pensionable age are staying in the workforce The rise in labour force participation of older people is very striking for women, and most likely links to the values of state pensions being eroded. (news.financializer.com). As reported in the news.

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.