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

men: In 1997, around 25% of under-34s were living in their parents' home, according to the Office for National Statistics, according to The Guardian. Today the figure is 32%. For men, it's even higher; 37% of men aged 18 to 34 lived with their parents in 2017. This major change to family life has happened shockingly fast. The ONS report, Journeying into Adulthood, charts how much the major milestones in life have changed. Now it is 23. In 1997, the typical age at which someone left home was 21. (news.financializer.com). As reported in the news.

case: House prices keep dropping and there's no end in sight Greg Jericho Read more For the past two decades, give or take the odd correction, it's been the same tale of rising prices and increasingly locked-out first homebuyers, according to The Guardian. And so it was the case in my own working-class, albeit gentrifying, suburb where the call of auctioneers became the soundtrack to my Saturday mornings, as 30 or 40 people would compete kerbside to win a 1m mortgage for a house that needed work. They attend auction after auction, but are out-bid by baby boomer and overseas investors, who are amassing huge property portfolios to diversify from stocks, or, in some case, simply get rich and retire early. Younger buyers, watching aghast, couldn't get a bid in unless their parents stumped up extra cash from the auction sidelines. And then, somewhere during the course of 2018, the tide definitively turned. It was the age when consultants flogged cheap apartments under the guise of free property seminars, and spruikers wrote books about how to buy 10 homes before you retire, which inevitably included a chapter on millennials spending too much money on smashed avo and drop-in yoga classes. (news.financializer.com). As reported in the news.

liberation army: The CIA accused Huawei of receiving funding from China's National Security Commission, the People's Liberation Army and a third branch of the Chinese state intelligence network, the British newspaper reported, citing a source, according to Nine News Australia. Earlier this year, US intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report. To improve your experience update it here News WorldUS says Huawei funded by China spy agency By AAP2 48pm Apr 20, 2019Facebook Tweet MailUS intelligence has accused Huawei Technologies of being funded by Chinese state security, according to the Times of London, adding to the list of allegations faced by the Chinese technology company in the West. Huawei dismissed the allegations in a statement cited by the newspaper. The company, the CIA and Chinese state security agencies did not respond immediately to requests for comment. Huawei does not comment on unsubstantiated allegations backed up by zero evidence from anonymous sources, a Huawei representative told The Times. (news.financializer.com). As reported in the news.

mongolian news: The 70th anniversary of the establishment of diplomatic relations between Mongolia and China coincides with the 90th anniversary of our agency's weekly Mongolian News in Chinese, according to Xinhua China. So we co-organized the essay writing competition with the Chinese Embassy in Mongolia and the Chinese Cultural Center in Ulan Bator, said Badamdorj Ganchimeg, director-general of Montsame, at the award ceremony. The competition was organized by the state-owned news agency Montsame to celebrate the 70th anniversary of diplomatic relations between China and Mongolia. Mongolian News in Chinese is the only newspaper published in Chinese in the country. I am confident that the essay writing competition will encourage Mongolian students to learn the Chinese language deeply and increase their knowledge about China, said Li Wei, cultural counselor of the Chinese Embassy in Mongolia. Ganchimeg noted that the essay writing competition aims to promote Mongolian students' Chinese writing skills and discover their views on Mongolia-China friendship. (news.financializer.com). As reported in the news.

tesla: That has led to the duplication of certain areas of experience or expertise among its directors, the company said in a filing, according to CNN. Now Tesla is shaking things up to allow the board to operate more nimbly and efficiently. The electric-car maker said that it wants to streamline corporate oversight because its board has grown by four members over the past five years. Two directors have agreed not to stand for reelection at Tesla's annual meeting this year, and two more will leave in 2020 or 2021. Cautious Tesla investors have also been pleading for with the company to tighten oversight of CEO Elon Musk. The rules on CEO tweets weren't made for Elon Musk Such agreements did not result from any disagreement between Tesla and any of such directors, the company said. (news.financializer.com). As reported in the news.

government policy: Chief Cabinet Secretary Yoshihide Suga also reiterated the government policy, after Koichi Hagiuda, executive acting secretary-general of Abe's Liberal Democratic Party, said Thursday, If the Bank of Japan's tankan business sentiment survey for June shows a risky outlook there would be a different development, according to The Japan Times. The BOJ will release the next quarterly tankan business confidence survey on July 1. The government has maintained that the consumption tax will be raised from 8 percent to 10 percent unless the economy suffers a shock on the scale of the global financial crisis triggered by the 2008 collapse of U.S. investment bank Lehman Brothers Holdings Inc. ; It is necessary to raise the tax to secure a stable source of revenue for a social security system oriented to all generations in dealing with the biggest challenge of a declining birthrate and aging population, Finance Minister Taro Aso said at a news conference. Hagiuda told reporters Friday his remarks had represented his personal view and that he did not intend to object to the government's policy. Aso suggested Hagiuda's stance had not been widely known by high-ranking ruling party lawmakers and members of the government before his comments, saying, At least Mr. Health minister Takumi Nemoto said, It is important to fully prepare for the tax increase, while education minister Masahiko Shibayama said, We have a consistent stance to raise the tax after taking every possible measure against a possible reduction in demand. (news.financializer.com). As reported in the news.

amgen inc: The three biggest losers in the Health Care Select Sector SPDR Fund ETF XLV, 0.16% were Regeneron Pharmaceuticals Inc, according to Market Watch. REGN, -2.81% Incyte Corp. Investors' anxiety seemed to have expanded from health retailers, managed-care companies and health insurers to include biopharma companies on Thursday. INCY, -0.48% and Amgen Inc. It is now down 0.7% for the year, while the S&P 500 SPX, 0.16% has notched gains of 16%. Pfizer Inc. AMGN, -2.74% The health-care ETF edged up 0.2% on Thursday, erasing an intraday loss of as much as 1.3% after falling 2.9% on Wednesday. (news.financializer.com). As reported in the news.

cambodian economy: If the country is excluded permanently from EBA and other preferential trading arrangements, the associations warned, their sectors and the Cambodian economy will take a serious hit, according to The Japan Times. Hun Sen claims that the international community is unfairly singling out Cambodia. Already, Cambodia's tax-free access to the vast European Union market, granted under the EU's Everything But Arms scheme, is in danger of being suspended over such violations. But the truth is that intensifying pressure on the country is consistent with a broader global shift, in which investment is increasingly guided even dictated by environmental, social and governance ESG factors. ; Gone are the days when strong ESG performance was a nice bonus for investors. Investment decisions by emerging market funds are thus increasingly preceded by rigorous ESG screenings screenings that, after 34 years of Hun Sen's dictatorial rule, Cambodia has no chance of passing. Pension trustees and fund managers now insist that the companies in which they invest operate in ethical, transparent ways that limit reputational risk. (news.financializer.com). As reported in the news.

haven t: It's been a bit of a rocking-chair market, in that we've been doing a lot but haven't been going anywhere, Matthew Bartolini, head of SPDR Americas research at State Street Global Advisors, told Market Watch in an interview earlier in the week, according to Market Watch. Indeed, Monday's action marked the lowest full-day, total composite trading volume representing trading on the New York Stock Exchange and its main affiliates and on the Nasdaq roughly 5.7 billion shares since Sept. 10, according to Dow Jones Market Data. However, the recent resurgence for stocks after a more than six-month, corrective hiatus has many market participants questioning its durability, as trading volumes remain near the lowest levels of 2019. In fact, Monday's session was even eclipsed by the holiday-shortened Christmas Eve session's turnover of 5.79 billion shares. The average volume for April, if it holds, would represent the worst April since 2013, according to Dow Jones Market Data. To make a finer point, the rolling 10-day average of total composite volumes are their lowest since Sept. 12 and the volumes are on pace for the lowest monthly average since last August. (news.financializer.com). As reported in the news.

investment values: Soft Bank will invest 333 million from its 100 billion Vision Fund, while Toyota Motor Corp. and automotive parts supplier Denso Corp. will invest a combined 667 million. ; Toyota will also contribute up to an additional 300 million over the next three years to help cover the costs of building commercial self-driving vehicles, Uber said, according to The Japan Times. Uber CEO Dara Khosrowshahi said the funding will help maintain Uber's position at the forefront of a transforming transportation industry. Uber Technologies Inc. said Thursday that the investment values its Advanced Technologies Group ATG which works to develop autonomous driving technology, at 7.25 billion. The funding allows Uber to transfer some of the substantial cost of developing self-driving cars to outside investors. In its filing for an initial public offering this month, Uber cautioned that development of self-driving technology is expensive and time-consuming and may not be successful, and that the company lagged certain competitors. That is likely to appease some of Wall Street's concerns over Uber's spending on the autonomous unit, which has topped 1.07 billion since the program started in 2016. (news.financializer.com). As reported in the news.

uber: Japanese carmakers Toyota and its compatriot Denso, a car parts supplier, will invest a combined 667m in Uber's Advanced Technologies Group ATG . The remainder will come from Japanese conglomerate Soft Bank's 100bn Vision Fund, whose largest investor is Saudi Arabia, according to The Guardian. Toyota and Soft Bank are already major investors in Uber, with the latter owning 16%. In addition to the consortium's 1bn investment, Toyota will provide up to a further 300m over three years to help fund ATG's development of commercially available self-driving cars. With weeks to go until the loss-making San Francisco firm's stock market float, expected to value thecompany at up to 100bn, Uber said it had secured new financial backing for its plans to develop autonomous vehicles. A new independent ATG board will be formed using the investment from Soft Bank, Toyota and Denso. Eric Meyhofer, the head of ATG, will be the chief executive. Six directors will be appointed from Uber, one from Soft Bank and one from Toyota. (news.financializer.com). As reported in the news.

donald trump: On the heels of China's use of Artificial Intelligence to track the faces of Muslims, Donald Trump continues his spectacular demonization campaign, seemingly much to the disgust of pro-love, pro-war Democrats, according to MSNBC. Donald Trump has in some ways radically shifted the configuration of American violence. And this is by a President who is popular because of his willful act of forgetting that is nostalgia. Trump's environmental violence, most notable through his deregulation and gutting of the EPA, will be his most lasting legacy. The most forgotten violence in this country is the genocide of Native American sisters and brothers. America's violence is usually dumped in the Never Remember category. (news.financializer.com). As reported in the news.

influence: Peskov said Russia had insisted from the start of the two-year probe that whatever investigators did, they would find no Russian meddling, because there was no meddling . He also said the report would have a negative influence on Russia-US relations, which he said were not in the best shape . Russia's president, Vladimir Putin, has previously said allegations that the Kremlin sought to sway the election in favour of Donald Trump were nonsense, according to The Guardian. Peskov also criticised Mueller's investigations into meetings between Kremlin-linked businessmen such as Petr Aven, the co-founder of Alfa Bank, Russia's biggest commercial bank, and Trump officials, saying it was absurd to submit what he called routine business discussions to such intense scrutiny. In the form in which it has been published, the Mueller report contains no new information all this information has already been published by various media outlets, said Dmitry Peskov, the Kremlin spokesman. These businessmen attract investment, and so the more contacts they have, the better, Peskov said. Peskov said the businessmen mentioned in Mueller's report, who also included Kirill Dmitriev, the head of Russia's sovereign wealth fund, and Sergei Gorkov, the chair of Vnesheconombank, a major state-owned Russian bank, had informed Putin of the most important aspects of their conversations with figures close to Trump. They look for new contacts, and communicate with the relevant officials in the government and this goes on in all countries. (news.financializer.com). As reported in the news.

retirement account: I have to be honest I thought the hard part was living within your means and saving for retirement, according to The Independent. It's not. But 25 million or so Americans, ages 55 to 64, are, like me, wondering what they will live on during their golden years. Trying to figure out how to cash out your nest egg your tax-deferred retirement account, your taxable investments or both so it will last the rest of your life can be even harder. There are many variables when figuring out retirement finances. It has me gnawing at my fingernails. (news.financializer.com). As reported in the news.

moroccan embassy: A major fire on Monday engulfed the 850-year-old Gothic building Notre Dame Cathedral, resulting in the collapse of its spire and roof, but the main structure, including the two bell towers, has been saved, according to Global Times China. This pledge was made by Moroccan Ambassador to France Chakib Benmoussa during his meeting with Archbishop of Paris, Michel Aupetit, MAP said, citing a statement from the Moroccan embassy in France. (news.financializer.com). As reported in the news.

policy uncertainty: The USITC said its model estimates that the USMCA would raise US real GDP by 68.2 billion US dollars, or 0.35 percent, and US employment by 176,000 jobs, or 0.12 percent, according to Global Times China. The deal, the report estimates, will see US exports to Canada increase by 19.1 billion, or 5.9 percent. The United States-Mexico-Canada Agreement USMCA was signed on Nov. 30, 2018 by the three nations and still needs to be ratified by the three nations' respective legislatures before going into effect. It is also expected to enable the United States to sell an additional 14.2 billion dollars' worth of goods and services to Mexico, up 6.7 percent compared with the current level. The report said USMCA's provisions that reduce policy uncertainty about digital trade and certain new rules of origin applicable to the automotive sector are elements that would have the most significant effects on the US economy. As far as US imports from its two neighbors are concerned, the report projected that imports from Canada will increase by 19.1 billion dollars, or 4.8 percent, and from Mexico, up 12.4 billion dollars, or 3.8 percent. (news.financializer.com). As reported in the news.

cas: The Chinese Academy of Sciences CAS has provided technology support worth 1.8 billion yuan 268 million for the BRI construction in the past six years, CAS President Bai Chunli told a press conference on Friday, according to Global Times China. Technological cooperation is a vital part of the BRI. The academy has developed more than 100 projects in the sector and set up nine overseas science and education centers in areas such as Africa, South America, Central Asia and South Asia, Bai said, noting that a 10th center is being planned. With the further advancement of the BRI, which aims to improve infrastructure, greater efforts are expected in technology cooperation for the initiative's comprehensive development. The CAS helped set up a water resource center and typhoon forecasting system for Sri Lanka, Bai said. Trade and investment activities are the starting point for cooperation along the BRI routes, and with the initiative's advancement, many countries will want to work with Chinese participants in technology, said Bai Ming, deputy director of the Ministry of Commerce s International Market Research Institute. We also established an ecological and environmental research center in Central Asia, committed to protecting the local environment and ecological system, he said. (news.financializer.com). As reported in the news.

uptrend support: Here's his candlestick chart, below RBC Capital Markets Caption outside of wrapper for normal article images We are turning more cautious on equity markets as the SPX nears its secular highs as valuations are becoming a more pressing concern, Davis wrote, referring to the ticker for the S&P 500 index, according to Market Watch. Thursday's gains, however, might buy some time. The setup at least argues for some caution in the near term, he said. The S&P 500 ended with a gain of around 5 points, or 0.2%, near 2,905. Meanwhile, a daily close below uptrend support at 2,901 would leave 2,860 as an initial target as part of a corrective phase, with the next layer of support seen at 2,785. Davis said a daily close above 2,900 could delay the corrective potential and argue for a retest of the secular intraday high at 2,941 set on Sept. 21. (news.financializer.com). As reported in the news.

rush: He is the younger brother of talk radio host Rush you asked her if she said that she would not remember, according to MSNBC. She is just plain democrat crazy like Mad Max Waters, Feinstein, and many others. He has also worked as a professor and as a lawyer. She has had so many face lifts if you kissed her on the cheek you would be, in fact, kissing her ass. You need to go take them now maybe a double dose. Anybody want to try that I didn't think Plain Something or other You must have missed your meds today. (news.financializer.com). As reported in the news.

official: Tencent has also won approval to sell a game from Nintendo's Super Mario Bros. franchise, according to CNN. Why Nintendo keeps returning to classics like Pok mon Nintendo's portable Switch is not currently on sale in China through official channels. Authorities in the Chinese province of Guangdong have granted internet giant Tencent TCEHY preliminary approval to distribute the Switch, giving Nintendo greater access to the world's biggest video games market. Gamers only have limited access to imported consoles through the so-called grey market, which includes some online vendors on Alibaba's BABA Tmall platform. Read More The approval from Guangdong officials is subject to public consultation, but it could signal a new approach to console sales in a major gaming market. But these can be expensive. (news.financializer.com). As reported in the news.

opinions: He is a partner at Run Switch Public Relations in Louisville, Kentucky, according to CNN. Follow him on Twitter Scott JenningsKY. The opinions expressed in this commentary are his own. Mitch McConnell. View more opinion articles on CNN. (news.financializer.com). As reported in the news.

persistence: The suffragettes' battle for the vote is celebrated as a great victory for direct action, but 100 years later the struggle for women's equality is still being waged within countless institutions, according to The Guardian. Creating lasting change takes political skill, as well as passion and persistence. Every employer, school and household can make decisions that turn away from chaos. For democracies to solve difficult problems like climate change and inequality, schools need to teach practical politics as a basic skill. Extinction Rebellion places too much emphasis on number of arrests. Titus Alexander Author of Practical Politics Lessons in Power and Democracy; convener, Democracy Matters I agree with Ben Smoke that it's important not to fetishise the number of arrests in relation to current protests. (news.financializer.com). As reported in the news.

town hall: The views expressed in this commentary are his own, according to CNN. View more opinion on CNN. ET, CNN will host a town hall with Andrew Yang, an entrepreneur, former ambassador for global entrepreneurship under the Obama administration and 2020 presidential candidate. (news.financializer.com). As reported in the news.

city hall: I frown and shake my head every time I hear that line, according to The Independent. Not because de Blasio is wrong Many members of New York's ultra-wealthy are probably leaders on both sides of City Hall who vote for increased budgets year after year, with scant concern about efficiency or effectiveness, are in no position to point fingers. At the same time, in his capacity as a political leader, we can expect Hizzoner to continue repeating a favorite public slogan There's plenty of money in this country and in this city it's just in the wrong hands. A lack of serious fiscal oversight deprives worthy programs of funding and undermines confidence in government. Behind every dollar is a constituency prepared to argue passionately that their particular stream of public money needs to keep Council members and borough presidents, most of whom are seeking reelection or elevation to a higher office, avoid calling out waste because it's likely to spark a fight with their colleagues, or draw angry protesters to their offices. The norm in the political class is a law of omerta, or silence, about calling out wasteful spending. (news.financializer.com). As reported in the news.

bond market: Integration of investment channels in the inter-bank bond market and the panda bond market will be promoted in an orderly manner, and the regulator will also encourage securities and fund companies to enter the foreign exchange market and support innovation in derivatives, including options products, according to Wang, according to Global Times China. Industry insiders noted that the participation of foreign capital in China's bond and stock market remains lower not just compared to developed countries, but also lower than some emerging countries. We will steadily promote the opening of capital accounts, reform the investment system for qualified foreign institutions, simplify access management, and expand the scope of investment - that is, to reform the QFII and RQFII systems, Wang Chunying, spokeswoman for the State Administration of Foreign Exchange SAFE told a press conference on Thursday. Foreign investors' holding ratio in China's bond market is only 2 percent, while it is 3 percent in the stock market, SAFE data showed. China has made substantial progress in financial opening and integration into the global market in the past few years. The low participation rate showed that there is still room for foreign investors to buy more Chinese financial products and the Chinese bond market and the stock market will become more involved in the international mainstream index after the second quarter of 2019, Wang said. (news.financializer.com). As reported in the news.

list: In 2018, such a catalog appeared for the first time in the style and text of a negative list, borrowing from similar approaches used in China's pilot free trade zones, according to Global Times China. Photo VCG The views of foreign investors will be given consideration on how China revises its negative list for investments, but China will pace its opening up process, Chinese analysts said on Thursday. China has been routinely slashing its catalogue governing foreign investment in recent years. With the release of a new negative list less than two months away, Chinese analysts from the National Development and Reform Commission NDRC and the Ministry of Commerce MOFCOM as well as from the legal and industrial sectors, discussed how China will update its negative list this year. Bai Ming, deputy director of the Ministry of Commerce's International Market Research Institute, said that negative list revision will involve the NDRC and the MOFCOM, and foreign companies and industry associations will also be consulted. In March, Chinese Premier Li Keqiang announced that China would revise and issue the negative list for foreign investment by the end of June at the Boao Forum for Asia annual conference in South China's Hainan Province. (news.financializer.com). As reported in the news.