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

defence: One of the defence documents seen by Reuters described his latest arrest as illegal and the resulting interruption to his medical treatment as inhuman . Reuters quoted a person familiar with the conditions of Ghosn's detention as saying he is being interrogated for up to 14 hours a day at the Tokyo detention centre, sometimes in the middle of the night, according to The Guardian. Timeline Carlos Ghosn the accusations Show Hide Carlos Ghosn was one of the biggest figures in the global car industry until his shock arrest last November over alleged financial misconduct. According to Reuters, Ghosn's defence team said in documents prepared after he was arrested for a fourth time last week that Japanese prosecutors were trying to frustrate their preparations for his trial, a date for which has yet to be set. He forged an alliance between France's Renault and Japan's Nissan and Mitsubishi Motors he was chair of Nissan, chief executive and chairman of Renault and chairman of Mitsubishi.19 November 2018Ghosn is arrested by Japanese police at a Tokyo airport upon arrival in his private jet. Both are sent to a detention centre in Tokyo. This follows the arrest hours before of Nissan board member Greg Kelly, a key ally of Ghosn's. (news.financializer.com). As reported in the news.

incentivize workers: Yang told TMZ that the plan is necessary to help American workers whose jobs have become automized, according to MSNBC. When asked if giving the dividend would incentivize workers, he cited the Alaska Permanent Fund, which was established in 1976 and pays residents a dividend from the state's mineral revenue.2020 'I'M RUNNING FOR PRESIDENT ... TO SAVE JOBS FROM AUTOMATION' In Alaska it's wildly popular, has created thousands of jobs, has improved children's health and has not decreased work levels in the slightest, the 44-year-old entrepreneur and investor said. All market data delayed 20 Presidential Election Published 2 days ago Dem 2020 candidate Andrew Yang stands by 'Freedom Dividend' By Stephen Sorace Fox candidate Andrew Yang proposes 1K per month for every American Democratic 2020 candidate Andrew Yang said in an interview Wednesday that his Freedom Dividend, a proposal that would give 1,000 a month to Americans who are over 18 years old, will encourage citizens to work. Presidential candidate and entrepreneur Andrew Yang speaks during the National Action Network Convention in New York, Wednesday, April 3, 2019. Yang has rejected their support. AP Photo/Seth Wenig With the exception of new moms who spent more time with their kids and teenagers who graduated high school at a higher level, numbers showed that most people continued to worked at the same level as they did without the dividend, Yang told TMZ. Most people want to work and a little bit of money won't make a difference, he said.CLICK HERE TO GET THE FOX NEWS APPThe Freedom Dividend would cost 1.8 trillion dollars a year, and planned to fund it with a value added tax that would get the American people a slice of all Amazon transactions, Google searches and robot truck miles, Yang previously told MSNBC. Yang's presidential candidacy has recieved the support of some white nationalists, who believe he is concerned with halting the decline of the white race, the Verge reported. (news.financializer.com). As reported in the news.

manufacturing sector: The manufacture of the Navara from 2020 will also create about 400 direct jobs in a country with an unemployment rate of 27 percent. ; Automotive is already the largest part of South Africa's manufacturing sector, contributing around 7 percent of gross domestic product annually and accounting for a third of manufacturing output, said South Africa's President Cyril Ramaphosa, speaking at Nissan's facility in Rosslyn, according to The Japan Times. Nissan's investment is the first significant commitment by an automaker since international firms agreed with the government late last year to extend a manufacturing incentive program through 2035. The decision by the Japanese carmaker may add 30,000 units to the plant's current annual volume of 35,000, said Mike Whitfield, managing director of Nissan Africa, at the factory north of Pretoria on Wednesday. The plan has also seen the likes of Toyota Motor Corp., Volkswagen AG and BMW AG operate plants in the country, in return for generous tax breaks. Nissan plans to more than double its industrial reach in the Middle East, Africa and India by 2022 by adding more factories, according to Peyman Kargar, chairman of the carmaker's operations in those three territories, who spoke in an interview last month. The majority of vehicles are produced for export. (news.financializer.com). As reported in the news.

marciulionyte: The Global Times GT talks with the Lithuanian Ambassador to China Ina Marciulionyte Marciulionyte who discussed her country and its possibilities for Chinese investors, according to Global Times China. Lithuania is China's largest trading partner in the Baltic region and China is Lithuania's largest trading partner in Asia. The Central European country is gradually lifting its veil of mystery to more and more Chinese people for its high-tech, life sciences, agricultural products and more. What are the key areas that bring the two countries closer in business and trade Marciulionyte First of all, in trade, more and more Lithuanian laser companies are coming to China. Previously, we had laser markets in Europe, the US, and Japan, and now China is our biggest market. Now we have three laser companies that already have their branch offices in China. (news.financializer.com). As reported in the news.

yuan: According to the CASS report, cumulative balances of pension funds for urban employees are expected to begin declining from a peak of 6.99 trillion 1.04 trillion yuan in 2027, according to Global Times China. By 2035, it's possible that the accumulated balances will be exhausted before people born in the 1980s retire, the report said. To offset the widening shortfall, other national assets, including foreign exchange reserves, can be shifted to the pension funds, experts said. The report also noted that the current balances of pension funds for 2019 are 106.29 billion yuan, but as soon as 2028, the balances may dip to a deficit of 118.13 billion yuan. Zheng Bingwen, director of the Institute of American Studies of CASS, told the Global Times on Thursday that the shortfall in China's pension assets is largely due to the fast-aging population and a shortage of young labor in the market. The report warned that given the current demographic situation in urban China, the pressure on pension funds is steadily increasing. (news.financializer.com). As reported in the news.

point fall: After opening marginally lower, the Nikkei fluctuated narrowly around the previous day's closing level before firming slightly in late afternoon trading, according to The Japan Times. The Topix remained in negative territory for most of the day's trading, dragged down by sluggish performances of financial issues, market sources said. The 225-issue average gained 23.81 points, or 0.11 percent, to end at 21,711.38, after retreating 115.02 points Wednesday. ; The Topix index of all first-section issues closed down 1.14 points, or 0.07 percent, at 1,606.52, following its 11.10-point fall the previous day. The Nikkei's firmness in the afternoon is believed to have been backed by speculation about the Bank of Japan's buying of exchange-traded funds, said Chihiro Ota, general manager for investment research and investor services at SMBC Nikko Securities Inc. Hiroaki Kuramochi, chief market analyst at Saxo Bank Securities Ltd., noted that players retreated to the sidelines to watch how Wall Street will respond to earnings reports to be released by major U.S. firms next week. Meanwhile, Mitsuo Shimizu, chief strategist at Aizawa Securities Co., pointed out that active trading was held in check ahead of Friday's special quotation fixing to settle April options contracts. (news.financializer.com). As reported in the news.

valuation discount: That's the second-biggest decline among major securities firms worldwide after Societe Generale SA, outpacing even notoriously poor performers like Deutsche Bank AG. Nomura's valuation discount versus global financial companies deepened to 58 percent this week, the widest gap since Bloomberg began tracking the data in 1999. ; The figures underscore entrenched skepticism over Nagai's plans to revive a business buffeted by years of stop-start international expansions and an increasingly competitive battle for retail traders in Japan, according to The Japan Times. While valuations this low have foreshadowed past rallies for Nomura, some investors are losing patience after watching the stock tumble more than 70 percent since the ill-fated takeover of Lehman Brothers Holdings Inc.'s European and Asian operations in 2008. Japan's largest brokerage has dropped almost 3 percent in Tokyo trading since Chief Executive Officer Koji Nagai unveiled a sweeping overhaul plan on April 4, bringing its six-month slide to 23 percent. The market seems to be saying If the recovery process takes longer, we do not need to rush back into this name,' said Hideyasu Ban, senior research analyst at CLSA Ltd. in Tokyo. Nomura watchers have cited several reasons for continued skepticism, including uncertainty about revenue growth and the pace of cost cuts. The stock closed 0.7 percent higher in Tokyo on Thursday, after earlier falling as much as 1.2 percent. (news.financializer.com). As reported in the news.

tribunals: In the two weeks since 27 March, it has publicly announced 70 appointments to boards, statutory bodies and tribunals, and diplomatic postings, according to a Guardian analysis, according to The Guardian. Of those, 14 individuals, or 20%, were former Liberal or National MPs, party executives, or senior advisers to Coalition ministers. The Coalition made the usual flurry of appointments in the last weeks before the election was called on Thursday morning. Eight were previously federal or state politicians, five were senior advisers and one was a high-ranking party executive. - The appointments include the former Liberal MP Ewen Jones, appointed to the board of the National Film and Sound Archive, the former Nationals state MP Hugh Delahunty, who was appointed to the Sport Australia board, and the former Nationals federal director Scott Mitchell, who was named as a non-executive director of Snowy Hydro. Two former Liberal MPs Phillip Barresi and ACT MLA Tony De Domenico were appointed to the National Housing Finance and Investment Corporation. The former Liberal ACT chief minister Kate Carnell was appointed to the Defence Industry Advisory Board, while former Liberal senator, Richard Alston, was appointed to the Council of the National Gallery. (news.financializer.com). As reported in the news.

judge snow: District Judge Michael Snow said Assange showed the behaviour of a narcissist who cannot get beyond his own selfish interest as the Australian pleaded not guilty in Westminster Magistrates' Court to breaching bail in 2012, according to Nine News Australia. Judge Snow sent Assange to the Crown Court for sentencing at a later date as the offence was so serious . He faces 12 months in jail and was remanded in custody. To improve your experience update it here News World Julian Assange found guilty of breaching bail in UK, awaits extradition hearing for US hacking charge By Kieran Campbell Gabrielle Adams9News Staff7 16am Apr 12, founder Julian Assange has been found guilty of breaching bail, whilst also being charged by the US for conspiracy to hack classified computers. Assange is set to face court again on May 2 in regards to the US request for extradition. The court heard officers tried to arrest Assange in the embassy at last night before he barged past them and ran into his apartment. He appeared in court wearing a suit jacket, with his long hair tied back in a bun and reading a book as he waited for proceedings to begin, hours after his dramatic arrest at the Ecuadorian embassy. (news.financializer.com). As reported in the news.

life: Such a plan will encourage business to invest and help ramp up economic growth, which the advocates argue is key to Australians' way of life, according to Nine News Australia. The Ai Group says whichever side of politics forms government after the May 18 election will have a chance to reboot the policy agenda . Setting clear positive policy directions will help lift consumer and business confidence and support investment and jobs growth, chief executive Innes Willox said on Thursday. To improve your experience update it here News National Business groups seek policy certainty By AAP2 12pm Apr 11, need their next government to have a clear and comprehensive plan for the future, according to business groups. Business Council of Australia chief executive Jennifer Westacott says people are crying out for a clear sense of where the country is heading. The ultimate test of fairness is whether we're ready for the future as a country. They want their wages to go up, power bills to go down and certainty that there will be jobs for them in the future because they have the right skills and access to the right opportunities, she believes. (news.financializer.com). As reported in the news.

space: In his latest salvo, Musk called Bezos a copycat amid news that the Amazon CEO plans to launch 3,200 satellites into space, according to Nine News Australia. Musk the founder of space exploration company SpaceX reacted by tweeting copy cat. To improve your experience update it here News World Battle of the billionaires Elon Musk reignites feud with Jeff Bezos By CNN12 00pm Apr 11, Elon Musk and Jeff Bezos are taking their feud to a galaxy far, far away this time, into space. Musk made sure to tag Bezos on his catty smack-down. Bezos revealed his plans in federal filings last month. MUSK LAUNCHED SIMILAR SATELLITES IN 2018Bezos' venture is called Project Kuiper, and its goal is to provide high-speed Internet service to millions of people in underprivileged communities. (news.financializer.com). As reported in the news.

time: The decision gave more time for discussions between the political parties and for companies to prepare for all options, Lagarde said, according to The Guardian. On the other hand, it is obvious it is continued uncertainty. Christine Lagarde, the IMF's managing director, said that while she welcomed the fact that Britain would not leave the EU without a deal on Friday, nothing had been resolved. And it does not resolve, other than by postponing what would have been a terrible outcome. UK business leaders have warned the government against wasting the Brexit extension, sounding the alarm that another deadlock in six months' time would inflict renewed damage on the UK economy. The IMF said earlier this week that leaving the EU without a deal risked pushing the UK into a two-year recession. (news.financializer.com). As reported in the news.

emissions savings: It added that the emissions savings that should result from the work to restore and protect natural ecosystems also would serve to address carbon emissions generated by the customers who use Shell's products, according to The Independent. Ben van Beurden, chief executive at Royal Dutch Shell, said the latest investments are part of the company's wider emission reduction strategy, which has seen the oil giant step up investment in electric vehicle charging infrastructure, renewables and other clean technologies in recent years. The oil giant said the new program, which initially will focus on reforestation partnerships in Spain and the Netherlands, is designed to support its recently announced target to reduce its Net Carbon Footprint by 2 percent to 3 percent over the next three years. There is no single solution to tackling climate change, he said in a statement. Shell will play its part. A transformation of the global energy system is needed, from electricity generation to industry and transport. (news.financializer.com). As reported in the news.

employees executives: The 7,500-advisor network which is backed by private equity firm Genstar Capital agreed to buy select assets of Foresters' U.S. brokerage and RIA, the parties said April 9, according to The Independent. They are not disclosing terms of the deal, which is expected to close late in the second quarter. Cetera aims to add 500 financial advisors to its bank and credit union channel from the insurer, the latest to exit the sector. A major Foresters team decamped to LPL Financial a few days before the deal was announced. Notable growth in Foresters' advisory assets and its training capabilities for new entrants to the industry made the assets attractive to Cetera, Antoniades says, noting Cetera expects to retain many of Foresters' home-office employees and executives. To appeal to the rest of the Foresters advisors managing more than 12 billion in client assets at 40 branches, Cetera will offer transition assistance, according to President Adam Antoniades. (news.financializer.com). As reported in the news.

equity benchmarks: They said a lack of pent-up problems in the housing market and a well-capitalized banking system mean the economy is more resilient, according to Market Watch. That should be welcome news for risk assets, in the wake of March's inversion of the yield curve an apparent harbinger of coming recessions, closely watched by Wall Street types and economists. The bad news is that the stock market is still likely to suffer a savage beatdown as an economic downturn sets in as early as 2020. However, despite a relatively soft landing for the economy, equity benchmarks are likely to see a severe slump, partly due to lofty valuations and a lack of available fiscal and monetary policy tools, analysts at Guggenheim Investments led by Scott Minerd wrote in a Tuesday research note. Our work shows that when recessions hit, the severity of the downturn has a relatively minor impact on the magnitude of the associated bear market in stocks, they said. See With Fed's cards on the table, not a bad time' to take profits, advises Guggenheim's Minerd Guggenheim says the level of equity valuations going into the recession generally dictates the potential magnitude of the slide in stocks, sometimes more than other standard economic metrics. (news.financializer.com). As reported in the news.

gdp growth: The incumbent Bharatiya Janata Party BJP has turned in a shining record as GDP growth from 2014 to 2018 remained steadily at and above 6.7 percent, placing it in the top spot among major economies, according to Global Times China. Despite the debate, there is no denying the fact that India's economy has been doing well. As the election nears, the debate over the Indian economic situation has revved up. The average annual GDP growth rate during 2014-18 rose above 7.2 percent, while other economic indicators such as inflation rate and deficit to GDP ratio dropped. First, India has improved its business environment to attract foreign investment. Both domestic reform and a favorable international economic environment have fueled India's economic development. (news.financializer.com). As reported in the news.

issue nikkei: It fell 1.38 points the previous day, according to The Japan Times. The Nikkei average gave up over 230 points as soon as the opening bell rang, as sell orders had piled up after the administration of U.S. President Donald Trump threatened Tuesday to impose additional tariffs on European imports as retaliation for subsidies to Airbus SAS. The EU promptly responded, saying it is readying a list of tariffs to counter subsidies to Boeing Corp. The 225-issue Nikkei average lost 115.02 points, or 0.53 percent, to end at 21,687.57, after gaining 40.94 points on Tuesday. ; The TOPIX index of all first-section issues finished down 11.10 points, or 0.69 percent, at 1,607.66. The Tokyo market was also dampened by the yen's strengthening against the dollar and other major currencies in the wake of the International Monetary Fund's downward revision in its World Economic Outlook, market sources said. But both Nikkei and TOPIX indexes remained in negative territory throughout Wednesday's session. Stocks cut some of the initial losses after the wave of selling. (news.financializer.com). As reported in the news.

japanese startups: Consequently, some may end up developing a mental illness, affecting their career. ; With more investment pouring into Japanese startups in recent years, it's possible that more entrepreneurs may be plagued by such an issue, according to The Japan Times. Being an entrepreneur, you are putting yourself in quite a tough situation, said Mari Sakuramoto, who heads Cotree Inc., a Tokyo-based startup that provides online counseling services. But their lives can be rough, as they are more likely to face troubles than leaders in other fields. Entrepreneurs shoulder pressure to grow their business, take care of their employees and make high returns for investors, but oftentimes many don't have people to share their weaknesses with because of their role as a leader. This is why Sakuramoto launched a counseling service called Escort, which is designed to take care of entrepreneurs' mental health. It's natural that you have a greater risk of developing a mental illness but it seems a lot of people are unaware of that. (news.financializer.com). As reported in the news.

meaning beijing: We can say that Beijing has the shortest negative list in terms of expanding opening of the services sector, Yin Yong, vice mayor of Beijing, told a press briefing on Wednesday, noting there are several opening measures that have only been approved for implementation in Beijing, according to Global Times China. Under the pilot program, which is planned for the next three years, Beijing is allowed to use a negative list that is reserved only for free trade areas and designates significantly fewer sectors as off limits to foreign investors, according to Yin. The capital city has been designated by the State Council, China's cabinet, as a test ground for the country's long-term goal of opening up services, meaning Beijing has much more leeway in offering greater access for foreign firms. Specifically, Beijing will implement 14 different measures to ensure further opening of services in six areas such as technology, financial, cultural and entertainment and health care, Yin said, noting four of the measures are only approved for implementation in Beijing. All these measures will make it much easier for foreign capital to enter the services sector with lower requirements, fewer restrictions and broader access, Yin said. For instance, foreign investors will be allowed to set up investment management businesses in Beijing, and registration for foreign-made medical equipment in Beijing will also be valid in North China's Hebei Province and Tianjin Municipality. (news.financializer.com). As reported in the news.

wynn: CEO Matthew Maddox said James Stern, the executive vice president of corporate security, was informed last weekend the company would no longer require his services, according to a lengthy legal brief to the Massachusetts Gaming Commission released yesterday, according to Nine News Australia. Stern told the commission last week he'd surveilled company co-founder Elaine Wynn and three employees, including one named in The Wall Street Journal's 2018 report of sexual misconduct allegations against company founder, Steve Wynn. To improve your experience update it here News World Wynn Resorts fires head of security amid claims he spied on co-founder, employees By Associated Press12 13pm Apr 10, Resorts removed its security chief after he acknowledged spying on co-founder and employees. The gaming commission, following last week's hearings, is deliberating privately on whether Wynn Resorts is still suitable to hold a state casino licence as it plans to open the 2.6 billion Encore Boston Harbor in June. In February the Nevada Gaming Commission fined the US-listed Wynn Resorts a record US 20 million after the firm admitted it had been aware of allegations of sexual misconduct made against Mr Wynn but had failed to investigate or take action. A written decision is expected later. (news.financializer.com). As reported in the news.

kamala harris: Bernie Sanders, in second with 24 percent, according to MSNBC. South Bend Mayor Buttigieg pronounced buddha judge came in third with 11 percent, followed by U.S. Sens. Right behind former Vice President Joe Biden, in first with 25 percent, and U.S. Sen. Kamala Harris, 10 percent, and Elizabeth Warren, nine percent. Only one other openly gay person has ever tried to run for a major party presidential nomination Fred Karger. The news, though based on a relatively small sampling, marks an astonishing milestone for an openly gay candidate for the presidential nomination of one of the two major parties. (news.financializer.com). As reported in the news.

organisms methane: The gas could be an indication that there is life on the planet, since on Earth it is produced by living organisms, according to The Independent. Methane has been spotted on numerous occasions, both on the surface of the planet and in its atmosphere. Researchers had hoped the Trace Gas Orbiter TGO currently floating above Mars, would be able to sniff out the methane and further study it. 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. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. You can form your own view. (news.financializer.com). As reported in the news.

policy makers: The Dow Jones Industrial Average DJIA, -0.05% edged up 6.58 points to 26,157.16 after spending most of the day in negative territory, according to Market Watch. What drove the market The minutes showed that policy makers last month dropped plans for further rate increases in 2019 due to unease over the U.S. and global economies and unexpectedly tame inflation. How did the benchmarks fare The S&P 500 index SPX, 0.00% gained 10.01 points, or 0.4%, to end at 2,888.21 while the Nasdaq Composite COMP, -0.21% rose 54.97 points, or 0.7%, to close at 7,964.24. A majority of participants expected that the evolution of the economic outlook and risks to the outlook would likely warrant leaving the target range unchanged for the remainder of the year, the minutes said. Data released Wednesday morning showed consumer prices rose at the fastest pace in 14 months in March, though gains were muted when excluding volatile food and energy prices. Meanwhile, the central bank remained sanguine about inflation. (news.financializer.com). As reported in the news.

rohingya muslims: Myanmar-US relations are less rosy than they appear, according to Global Times China. The US in the past year has imposed sanctions on four Myanmar security officials, accusing them of ethnic cleansing against Rohingya Muslims. Can the US be the developing country's best advocate and consultant The answer is an obvious no. The leaders of the US and Myanmar differ on a series of matters including the Rohingya issue. This is not the first time that Myanmar has faced sanctions. It's hard to imagine that the US, as an imposer of sanctions, can think from Myanmar's perspective to safeguard the interests of a country upon which the US itself has imposed sanctions. (news.financializer.com). As reported in the news.

vostok executives: Three other defendants linked to the case, including two Baring Vostok executives, saw their detentions extended by three months in court Wednesday, she said. ; The fund welcomed investigators' motion on Calvey's detention and said it hoped the court will give due consideration to the request, according to The Japan Times. It called the rulings on the other defendants illegal and unjustified and said they would be appealed. Calvey's next hearing is scheduled for Thursday in Moscow, when the Investigative Committee's petition will be presented, court spokeswoman Yunona Tsareva said. The arrest of Calvey, a U.S. citizen who runs one of the biggest private equity funds in Russia, has alarmed foreign investors and prompted a wave of calls from prominent officials and state-company executives for his release. They deny wrongdoing and blame the prosecution on a corporate conflict with the other large shareholders in Vostochny. He and several of his colleagues have been held since February on charges of overvaluing assets Baring Vostok contributed to Bank Vostochny, a lender the fund controls. (news.financializer.com). As reported in the news.

vulnerabilities: Global financial markets have rebounded so far this year but that could change abruptly, leading to sharp tightening of financial conditions that could have a host of negative effects on the global economy, the International Monetary Fund warned Wednesday, according to Market Watch. In its latest report on the global financial stability, the IMF said near-term risks have risen on balance since last fall, although they remain moderate by historical standards. The risk is this could change abruptly. The report described a broad range of financial market vulnerabilities in global markets. Because these vulnerabilities tend to amplify in a shock, they may increase financial stability risks, the agency said. Vulnerabilities arise from leverage, liquidity, maturity, and currency mismatches on the balance sheets of governments, firms, households, banks, insurance companies and other financial institutions, the IMF said. (news.financializer.com). As reported in the news.