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

contraction: A figure below 50 indicates contraction, and last month's number also came in well below expectations of 50.9, 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. The IHS Markit/CIPS UK services purchasing managers' index PMI showed a reading of 48.9 in March, lower than the 51.3 recorded a month earlier. You can form your own view. Subscribe now It was the first contraction since July 2016 but, aside from that month, the reading was the joint weakest over the past decade, equalling the previous low point recorded in December 2012. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

investment returns: Investing in equities is all about accepting and managing risk, according to Market Watch. It might seem like a daunting task, but it's actually quite possible if you're willing to examine some investment returns from the past, then examine your own psyche and see how they fit together. What's an investor to do When should you head for the exits When should you hold tight Of course there is no way to know these things until after the fact. This is our topic today. If you want high returns, you have to take significant risks. It's well known that, in broad terms, risk and reward go together. (news.financializer.com). As reported in the news.

investors: The Hong Kong Exchanges and Clearing will also launch MSCI China A Index Futures along with the China Financial Futures Exchange, Jiao said, according to Global Times China. He disclosed the information when delivering a speech in Hong Kong. The China Securities Regulatory Commission CSRC will allow Qualified Foreign Institutional Investors QFII and Renminbi Qualified Foreign Institutional Investors RQFII investors to participate in the Chinese mainland's futures market, along with domestic social security funds, commercial banks and insurance funds as well as state-owned enterprises, said Jiao Zengjun, director of the futures management division under the CSRC, according to a Wednesday report by the hkcd, the website for the Hong Kong Commercial Daily newspaper. However, Jiao didn't reveal the exact quota under which overseas investors will be allowed to invest in the mainland stock index futures. Li Qiang, director of the research center under Xinhua Futures, said that the opening-up of domestic stock index futures is not unexpected considering the fact that the internationalization level of the domestic financial derivatives market has been rising in recent years, and that the Chinese government wants to provide a complete set of financial investment tools for overseas investors instead of just tilting toward the opening-up of certain sectors. It's likely that such investment will be included in the quota limitations of the QFII and RQFII programs, Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times Wednesday. (news.financializer.com). As reported in the news.

air freight: Ccm Investment Advisers Llc who had been investing in Fedex Corp for a number of months, seems to be bullish on the 48.21 billion market cap company, according to MSNBC. The stock decreased 0.77% or 1.44 during the last trading session, reaching 185.01. The institutional investor held 47,763 shares of the air freight and delivery services company at the end of 2018Q4, valued at 7.71M, up from 43,278 at the end of the previous reported quarter. About 739,078 shares traded. It has underperformed by 30.04% the S&P500. FedEx Corporation FDX has declined 25.67% since April 2, 2018 and is downtrending. (news.financializer.com). As reported in the news.

cmhc: Siddall says his agency wants to raise millions more to help Canadians afford a place to live despite billions already available in government funding, according to The Toronto Star. Nathan Denette / THE CANADIAN PRESS CMHC's corporate plan released last month set the ambitious goal of providing Canadians with homes they can afford and meet their needs by 2030. Evan Siddall says the aim is to raise 100 million more for housing, quickly and likely from private sources, because the tens of billions pledged by federal and provincial governments over the next decade or so isn't enough to make housing affordable for everyone in the country.CMHC president Evan Siddall speaks to the Canadian Club of Toronto in Toronto on June 1, 2017. An estimated 1.6 million Canadian households are considered in core housing need, meaning they live in places that are too expensive or aren't really suitable for them. Article Continued Below The Liberals' latest budget included extra housing spending the government hopes will help some first-time buyers enter the housing market and expand the stock of rental units. Siddall admits the goal is a moon-shot, but it's designed to force his agency and others to achieve more than is already eyed in the long-term national housing strategy, whose price tag is over 40 billion. (news.financializer.com). As reported in the news.

ishii-sports: Through the acquisition, Yodobashi Holdings, based in Tokyo, hopes to obtain ICI Ishii-Sports' business expertise and customer base at a time when the popularity of mountaineering and camping is growing among women and young people, according to The Japan Times. Tokyo-based ICI Ishii-Sports, established in 1964, has a strong position in sales of mountain climbing gear. The operator of Yodobashi Camera stores will buy all outstanding shares in ICI Ishii-Sports including those held by investment fund Advantage Partners, which is a significant shareholder in the target company. ; The value of the deal was not disclosed. We highly rate the high-quality expertise of ICI Ishii-Sports, Yodobashi Holdings said, adding that the move will allow the company to maintain its independence in store management and will guarantee the employment of its workers. The three said in a statement they are collab... Cash-strapped Cuba curbs newspaper length due to paper shortage The Cuban government says a newsprint shortage is forcing at least six state-run newspapers to cut back on pages and circulation days in a potent sign of the cash shortage confronting the island. ... Almost half of young Russians want to emigrate as economy stagnates Gallup poll Forty-four percent of Russians aged 15-29 want to emigrate as their economy stagnates, according to a survey by the pollster Gallup. Twitter Facebook Linked In LATEST BUSINESS STORIESToyota, GM and Ford join forces on self-driving safety rules Toyota Motor Corp., General Motors Co. and Ford Motor Co. have decided to join forces to develop standards for the development of self-driving cars. (news.financializer.com). As reported in the news.

issue nikkei: On Tuesday, the key market gauge edged down 3.72 points. ; The Topix index of all first-section issues finished up 10.08 points, or 0.63 percent, at 1,621.77, after falling 4.12 points the previous day, according to The Japan Times. After getting off to a mixed start, the market went up sharply on a Financial Times report that Washington and Beijing were closer to a final trade deal, brokers said. The 225-issue Nikkei average rallied 207.90 points, or 0.97 percent, to end at 21,713.21. The U.K. newspaper report hit the market before the start of ministerial negotiations between the Unites States and China in Washington on Wednesday. The market remained comfortably higher in the afternoon on purchases prompted by rises in Shanghai stocks. Robust buying in Fast Retailing Co., a heavily weighted component of the Nikkei average, helped the key price indicator gain over 100 points, analysts pointed out. (news.financializer.com). As reported in the news.

opinion polls: With no opinion polls published indicating clear support for any particular candidate, it's difficult to accurately predict the outcome, according to Deutsche Welle. Observers are already branding it one of the closest political races in the country's history. It looks likely to be a tight race between incumbent President Muhammadu Buhari from the All Progressives Congress APC and Atiku Abubakar of the People's Democratic Party PDP . A record 84,004,084 people have registered to vote an increase of 18 percent from the 2015 election. Nigerian presidential candidate Atiku Abubakar poses the biggest threat to Buhari The players 73 candidates are on the 2019 ballot papers. Like Buhari, comes from the north, is muslim and is in his 70s. Abubakar is widely considered to be Buhari's main challenger. (news.financializer.com). As reported in the news.

services trade: The fourth round of the second phase of the China-Korea FTA talks was held in Beijing on Friday to discuss services trade and bilateral investment, aiming to achieve steady progress and create a more favorable environment for companies from both countries, according to a statement from China's Ministry of Commerce MOFCOM on Tuesday, according to Global Times China. It is the first time that the negative-list approach has been used in China's FTA talks with other countries focused on services trade and investment, said the ministry. Photo VCG China has introduced the negative-list approach for services trade and investment talks for the first time in its latest free trade agreement FTA negotiations with South Korea, marking the country's full embrace of higher-level opening-up, analysts said. Similar to the negative-list mechanism that we've used for foreign investment, this one is being applied in FTA negotiations, meaning all the areas not on the list will enjoy free trade, which marks a step forward for China's further opening-up and connecting with international standards, said Tu Xinquan, a professor at the University of International Business and Economics. Tu told the Global Times on Wednesday that what will be on the list still requires bilateral discussion. Developed countries usually adopt negative lists during FTA talks, he added. (news.financializer.com). As reported in the news.

sketchball commercials: Other people have pretty reasoned arguments about how gold maintains purchasing power across the centuries, according to Market Watch. It was in a bubble eight years ago that sucked a lot of people in. Some people think it has no utility. There were some sketchball commercials for gold on Fox News. I got sucked into it. The people who missed the bubble spent the next eight years mocking the people who got sucked into it. (news.financializer.com). As reported in the news.

chinese communists: The sources said the Tibetan ruler will be granted asylum by the Indian Government, according to The Guardian. Paratroops join hunt for Dalai Lama from the archive, 1 April 1959Read more The first news came from the Chinese Communists themselves. The Dalai Lama has reached safety on Indian soil, foiling the tens of thousands of Chinese soldiers and paratroops who tried to hunt him down, according to diplomatic sources here to-night. The New China News Agency said he entered India on Tuesday and Indian border authorities had left Tawang, in the North-east Frontier Agency of Assam, to meet him. Mr Nehru, the Indian Prime Minister, to-day summoned a hurried top secret meeting of the central parliamentary board of his Congress party. Tawang is 18 miles south of the Tibetan border and almost due south of Lhasa. (news.financializer.com). As reported in the news.

company: Bluespruce Investments Lp who had been investing in Comcast Corp for a number of months, seems to be less bullish one the 183.14 billion market cap company, according to MSNBC. The stock increased 1.11% or 0.44 during the last trading session, reaching 40.47. The hedge fund held 4.23 million shares of the television services company at the end of 2018Q4, valued at 144.02 million, down from 4.67M at the end of the previous reported quarter. About 4.54M shares traded. It has outperformed by 1.62% the S&P500. Comcast Corporation CMCSA has risen 5.99% since April 3, 2018 and is uptrending. (news.financializer.com). As reported in the news.

body: The body didn't even name any companies in the relevant chapter of its World Economic Outlook publication, according to The Guardian. Yet even this tentative talk might encourage policymakers to take competition policy, as it applies to big tech, more seriously. Or, more accurately, it would be worried about the effects on innovation and growth if US tech giants' market power were to continue to rise in the future . The IMF's analysis is a long way from being a radical proposal to break up Amazon, Facebook and Google, as advanced by the US senator and presidential candidate Elizabeth Warren. When the IMF says there is a possibility that successful tech titans could seek to block potential rivals, most of us would say it's already happened. Facebook did much the same with Instagram in 2012, then bought Whats App in 2014. Google bought You Tube in 2006 when the video-sharing service was less than two years old. (news.financializer.com). As reported in the news.

information: These phone calls are often from scammers who now have the ability to mask their spam with local, genuine-looking phone numbers in attempt to steal your money or personal information, according to Nine News Australia. Thankfully there are a few ways you can fight back against those random, suspect numbers. To improve your experience update it here News Technology Phone feature can outsmart annoying spam calls from unknown numbers By Matt Dunn Senior Producer5 08pm Apr 3, 2019Facebook Tweet Mail We all know that feeling of having missed from strange numbers you don't know. BLOCK INDIVIDUAL NUMBERS ONE BY ONEThis won't stop you getting harassed by robocalls and spammers, but you do get the instant satisfaction of knowing a particular number will never be able to call you again. THE NUCLEAR OPTIONYou can stop all unwanted calls from ringing your phone by only allowing calls from your contact list. To do this in iOS, head to Recents', tap the blue information icon to the right of the number you want to block and tap Block this Caller'. Articles Trial into woman posing as German billionaire heiress begins in New York Irish men accused of elderly homeowner fraud scam caught trying to flee Australia Sydney man, 22, charged in 100,000 organised identity theft syndicate For Android, go to the Recents' section of the Phone' app, select the number and choose block It's worth noting that this will only work for numbers that have already called you and will have no result blocking scammers using a private number. (news.financializer.com). As reported in the news.

interview rooms: The 271.5 million stage three redevelopment will also include a new function and media centre, pre-event spaces, interview rooms, a 200-seat auditorium and broadcast studios along with the construction of a new multi-purpose 5,000-seat sunken show court arena and a central logistics hub, according to Nine News Australia. Heavy machinery has moved in and significant demolition underway. To improve your experience update it here News National Final stage of 972 million upgrade to Melbourne Park underway By Benjamin Ansell8 58pm Apr 3, 2019Facebook Tweet Mail The home of the Australian Open has entered the third and final stage of a major 972 million facelift. The new arena is set to add 5000 new seats for tennis fans and access is likely to be included in the cost of a ground pass. It brings in more families, it brings in more kids, and exposes more of the top players onto courts outside of Rod Laver Arena and Melbourne Arena, Woodbridge said. Australian tennis great Todd Woodbridge praised the Labor government's ongoing investment in the tennis centre saying that having a show court that everybody can access just with a ground pass is amazing. (news.financializer.com). As reported in the news.

south-south cooperation: During the meeting, Lv Xinhua, chairman of the CPSSC, described the UAE as a pivotal country of the China-proposed Belt and Road Initiative, as it enjoys important geographic location and sound investment environment, according to Global Times China. The CPSSC encourages Chinese entrepreneurs to travel to the UAE to learn more about its investment environment, demand and projects for the benefit of the healthy development of China-UAE trade and investment cooperation. The China-UAE Trade and Investment Seminar, co-organized by China's Council for Promoting South-South Cooperation CPSSC and the UAE Ministry of Economy, brought together representatives from more than 20 Chinese enterprises for talks with their UAE counterparts. Ni Jian, the Chinese ambassador to the UAE, said the economic and trade cooperation between China and the UAE is taking on the trend of all-round, wide-ranging, multi-level and rapid development against the background of joint work under the Belt and Road Initiative. Meanwhile, Juma Mohammed Alkait, assistant undersecretary for foreign trade affairs in the UAE Ministry of Economy, hailed China one of his country's important trading partners, as the UAE entrepreneurs are eager for stronger bilateral economic and trade cooperation with their Chinese counterparts. The visit of the CPSSC delegation to the UAE will build a new platform for further promoting economic and trade exchanges and cooperation between Chinese and UAE entrepreneurs, Ni added. (news.financializer.com). As reported in the news.

startup culture: With advances in technology and the falling cost of launch slots, the fledgling Australian Space Agency, set up last year, is taking a commercial approach to extraterrestrial ventures, according to The Japan Times. It aims to leverage the country's industrial skills in mining remote locations, developing automation and tapping a fast-growing startup culture to triple the size of the sector to 12 billion Australian dollars 8.5 billion by 2030. ; We're witnessing a massive transformation of the sector, due to things like the miniaturization of technology, the lowering cost of launch and faster innovation cycles, ASA Deputy Head Anthony Murfett said in an interview. Its advantage Half the country already looks like Mars. ASA aims to be one of the most industry-focused space agencies in the world. The government budget for ASA is just AU 41 million for four years, compared to NASA's annual 20 billion and the European Space Agency's 5.7 billion 6.4 billion . Without deep pockets, Australia's ambitious space projects will need to be commercial enough to interest businesses. It will need to be. (news.financializer.com). As reported in the news.

stock trades: That rationale that even skilled fund managers can't beat the stock-market indices, so there's no reason to pay someone to try, according to Market Watch. Not true, write finance and accounting professors Linda Chen of the University of Idaho, Wei Huang of the College of Saint Benedict & Saint John's University, and George Jiang of Washington State University, after an exhaustive study of nearly 2,000 U.S. mutual funds' stock trades by month from January 1998 to March 2015. An analysis of mutual-fund stock trades over the past two decades has thrown into question the rationale that has sent everybody and her grandmother stampeding into low-cost index funds and exchange traded funds. Instead, their research found substantial evidence that many skilled money managers are adept at picking stocks. And, critically, they are good at picking the stocks that are going to beat earnings expectations ahead of time L arge active trades by mutual funds prior to the month of earnings announcements have significantly positive abnormal returns in the subsequent one-, two- and three-month horizons, they wrote. Mutual fund trades outperform their benchmarks, they wrote. (news.financializer.com). As reported in the news.

trans hex: Also last month, investment holding company Zarclear announced that it would retire Deloitte and replace it with BDO after a disagreement over audit fees, and in an effort to reduce operating costs, according to The Independent. In January, Trans Hex also cited the need to reduce operating costs as the reasons for retiring PwC in favour of Mazars. PwC lasted less than four years as auditor, and the Vodacom stock exchange announcement leaves us none the wiser as to the reason, other than that a review of suppliers happens from time to time . Two weeks ago Life Healthcare announced it would replace PwC with Deloitte at the end of the current financial year in anticipation of mandatory audit rotation, which kicks in in 2023. And so it goes. KPMG had been the company's auditors since 2007 and was being rotated out in the interests of good governance. Afrox last month said goodbye to KPMG and welcomed PwC as auditors. (news.financializer.com). As reported in the news.

travel correspondent: Just remind us about Flybe and their recent travails 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, according to The Independent. You can form your own view. Our travel correspondent is a frequent flyer on Flybe and has been following the airline's fortunes and misfortunes. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. But along with other airlines, Flybe went into the winter season with the prospect of losing tens of millions of pounds, and saying it was seeking a rescue. Subscribe now Flybe and its predecessors, British European and Jersey European, has been connecting the UK for four decades. (news.financializer.com). As reported in the news.

larry kudlow: He completely supports Steve, Larry Kudlow, director of the National Economic Council, told reporters, according to The Toronto Star. People are being awful hard on him. ... This town is a toxic town in some respects. I spoke to the president yesterday. In this Feb. 7, 2019 file photo White House National Economic Council Director Larry Kudlow speaks to reporters at the White House in Washington. Kudlow said that the Fed should do more to help the economy by cutting rates. On Friday, March 29, 2019, Kudlow called on the Federal Reserve to cut its key interest rate by a half-percentage point. (news.financializer.com). As reported in the news.

petrol station: The man, who wishes to remain anonymous, purchased his winning Powerball entry at a petrol station in Sydney's south-west before the numbers were drawn last Thursday, according to Nine News Australia. Despite knowing that night that he had scooped the division one prize pool, he waited almost a week before coming forward to start his life as Australia's newest millionaire. To improve your experience update it here News National Sydney man waited six days to claim 20 million Powerball prize By Stuart Marsh2 42pm Apr 3, 2019Facebook Tweet MailA Sydney man waited six sleepless nights before coming forward to claim his multi-million dollar Powerball prize. I checked my numbers last night Thursday night, so I've known since then. I've found it hard to sleep at night. I don't think I've slept since! the man told NSW Lotteries officials. (news.financializer.com). As reported in the news.

thursday june: Kevin Loring was announced on Thursday June 14 as the first Artistic Director of the National Arts Centre's Indigenous Theatre program, according to The Toronto Star. Ryan Tumilty / Metro He said it will have a tangible impact on the first season, leaving the Ottawa-based performing arts centre to rely on fundraising efforts to support the Indigenous program. Award-winning playwright Kevin Loring, the first-ever artistic director of the NAC's Indigenous program, issued a letter on Facebook lamenting a lack of support from Canadian Heritage in the 2019 federal budget. The scope of any subsequent seasons remains in question. I have now been put in the disturbing position of overseeing a department whose creation and existence is a financial burden to an already stressed institution, he added. Without ongoing financial support, we will not have the capacity to achieve our vision and full impact, Loring wrote. (news.financializer.com). As reported in the news.

tommy thomas: More than 4.5bn 3.4bn was allegedly stolen from the fund via an international network of corruption, according to The Guardian. The trial began at Kuala Lumpur's high court with the attorney general, Tommy Thomas, saying Najib wielded near absolute power between 2009-18 as prime minister and finance minister. Ten years to the day after he was sworn in as head of government, the 65-year-old denied all charges on Wednesday at the first of several trials over his alleged involvement in the looting of sovereign wealth fund 1MDB, a state investment vehicle established to develop the economy of the south-east Asian nation. Leading the prosecution, Thomas said the trial would show that the accused was not above the law, and that his prosecution and this trial should serve as precedents for all future holders of this august office . The trial, originally set for February, features seven corruption charges relating to SRC International, a subsidiary of 1MDB. Najib is accused of criminal breach of trust, abuse of power and money laundering connected to 42m Malaysian ringgits 7.8m of SRC funds. The figure is a drop in the ocean of money Najib is accused of stealing, with larger amounts to be addressed in three further 1MDB-related trials. He denies the charges. (news.financializer.com). As reported in the news.

zhang: Zhang initially gained access to the property on March 30 through an apparent miscommunication with members of Mar-a-Lago security, according to CNN. She told a US Secret Service agent at the entrance she was there to go to the pool, and produced two passports, according to the complaint. Yujing Zhang claimed a friend had asked her to fly from Shanghai to the club to try to speak to a member of Trump's family about economic relations between the US and China, according to the complaint. Mar-a-Lago security subsequently admitted her. She told a receptionist she was there to attend a non-existent United Nations Chinese American Association event that evening. But staff quickly became suspicious when she didn't know where she wanted to go inside the property. (news.financializer.com). As reported in the news.

gender diversity: State Street says that looking at proxy votes alone can produce an incomplete measure of an investment manager's dedication to gender equality, according to Market Watch. When State Street rolled out its Gender Diversity Index exchange-traded fund SHE, 0.24%SHE, 0.24% in 2016 SHE, 0.24%the company said it would seek to help address gender inequality in corporate America by offering investors an opportunity to create change with capital and seek a return on gender diversity. But according to a study released Monday by investment research firm Morningstar, State Street's gender diversity fund has voted for only 20% of shareholder resolutions put before it addressing gender and diversity, a record that seems at odds with the investment objective stated in the fund's prospectus, according to Madison Sargis, associate director of quantitative research at Morningstar. Sargis studied the three U.S. funds that have a multiyear record on shareholder proxy votes and which are specifically focused on gender diversity. Examples of such resolutions include requests for boards of directors to publish reports on efforts to bring more diversity to corporate boards, requests for companies to monitor gender pay equity and disclose any gender pay gap, and appeals for boards to include workplace diversity metrics in determining CEO pay. The study found that Glenmede's Women's Leadership Fund GWILX, 0.15% and Pax's Ellevate Fund PXWEX, 0.60% voted for every gender equity resolution put before them, while State Street voted for just two of the ten resolutions put before it, while abstaining from two more. (news.financializer.com). As reported in the news.