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

acquisition spree: The group's also been embroiled in an increasingly bizarre power struggle over control of Hong Kong Airlines, while people familiar with the matter say HNA shelved the sale of a container-leasing business after failing to find anyone willing to pay the 1 billion-plus price it was seeking. ; For HNA, the setbacks underscore how the group is still struggling to deal with the fallout of a global acquisition spree that pushed it deep into debt, according to The Japan Times. Despite agreeing to sell more than 25 billion in assets since the beginning of 2018, HNA's travails more broadly show how China's two-year deleveraging campaign continues to rock some of its biggest targets, many of which emerged during a period when the government was encouraging private enterprises to seek out overseas assets. In April, creditors of the embattled Chinese conglomerate took the extraordinary step of seizing golf courses and other assets after a unit missed a loan payment. The situation is dire, said Brock Silvers, managing director of Kaiyuan Capital, a multi asset advisory and investment firm focused on China. At this point there are no safe harbors for HNA investors. The missed loan payment by CWT International Ltd., a Hong Kong-listed investment holding company HNA controls, reveals the depth of HNA's current predicament. (news.financializer.com). As reported in the news.

admiral: Vanguard, it turns out, is keeping some of its lowest-cost products off the shelves of fund supermarkets like Fidelity and Schwab, according to The Independent. While investors can purchase most Vanguard mutual funds at these firms, they will have to buy directly from Vanguard if they want the lowest-cost Admiral shares of its actively managed funds. But when I tried to buy the Admiral class shares of a Vanguard mutual fund recently, I was politely told that it wasn't available no matter how good a customer I was. The situation is an odd one, and it's a byproduct of changes that Vanguard made last year in its dual-class structure of mutual funds. Investor shares have lower investment minimums and higher expense ratios than Admiral. Vanguard has long had two classes of shares Investor and Admiral. (news.financializer.com). As reported in the news.

boeing shareholder: His name could not be confirmed, according to The Independent. We don't have to have 300-plus people die every time to find out that something isn't reliable, he said. That should have gone through some sort of internal review or something, the Boeing shareholder said at the meeting. Boeing's CEO and board of directors confronted difficult questions from investors and the media on Monday, the first time since two crashes of the 737 Max jet threw the company into chaos. When it comes to safety, there are no competing priorities, Muilenburg said at the meeting. Speaking to a half-empty auditorium in Chicago's' Field Museum, Muilenburg tried to reassure investors that the company takes safety concerns seriously and is working with regulators to update the technical features of the plane that contributed to both accidents. (news.financializer.com). As reported in the news.

france warning: Followers of central bank thinking have seen the governors of the Bank of England and Banque de France warning that climate-related risks threaten company profits and financial stability, according to Market Watch. Both interventions highlight the severity of the climate challenge that the world faces. LONDON Project Syndicate Easter visitors to London found some streets and buildings occupied by Extinction Rebellion activists, warning of climate catastrophe and rejecting a failed capitalist system. But warnings alone won't fix the problem unless governments set ambitious but realistic targets to eliminate carbon dioxide and other greenhouse-gas emissions, backed by policies to ensure the targets are achieved. Once investors know that the non-negotiable end point is zero carbon in 2050, they will desert any company whose plans are incompatible with that objective. Only clear targets can transform rational self-interest from a potentially catastrophic force into a powerful driver of beneficial change. (news.financializer.com). As reported in the news.

bank accounts: We know how to purchase green power for our homes; that our buildings are regulated for the energy they use; and that our household appliances come plastered with energy-efficiency star ratings, according to The Guardian. But what about our bank accounts, our super, our insurance policies and investment funds How does our money contribute to causing or preventing dangerous climate change How much financial risk are we exposed to from the effects of climate change, or from a delayed, bumpy transition to a low-carbon future What are policymakers and regulators doing about those risks Climate Risk and the Financial System, a new report from the Monash Sustainable Development Institute, addresses these fundamental questions. But despite the debates of the past, Australians are pretty used to many of the policies that seek to regulate carbon emissions in our everyday lives. This second type of climate risk and opportunity the massive implications of climate change for the financial system is a fairly new frontier in climate policy. The financial sector must be at the heart of tackling climate change Read more These reforms have their roots in the last financial crisis and a growing determination by international policymakers to avoid climate change being the cause of any future crisis. It has developed rapidly over the last three to four years internationally, and is now reaching Australia, where both the potential risks and opportunities raised by finance sector and regulatory reforms to address climate change are immense. (news.financializer.com). As reported in the news.

blockade leaders: The Newmont Goldcorp logo is seen in this undated handout photo, according to The Toronto Star. HO, Newmont Goldcorp MANDATORY CREDIT / THE CANADIAN PRESS It said it is committed to dialogue with blockade leaders while also working with Mexican authorities to resolve the situation. The company said Monday that the Penasquito mine in Zacatecas will stay shut pending resolution of what it says is an illegal blockade started March 27 by a trucking contractor and some members of the Cedros community. Company chief operating officer Thomas Palmer said on an earnings call with analysts last week that the community has mounted the blockade over water supply concerns while a trucking contractor has separate grievances. So it's a complex issue in that it involves a couple of issues coming together. It's an issue that sort of covers some community members from the local community with some concerns around water and some issues around a trucking contractor. (news.financializer.com). As reported in the news.

government hub: One of the contenders for the new capital city is Palangkaraya in central Kalimantan province on the island of Borneo, state news agency Antara reported earlier this year, 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 location of the new capital has not yet been decided and could take up to 10 years to finalise, planning minister Bambang Brodjonegoro said, citing Brazil and Kazakhstan as examples. You can form your own view. Subscribe now Authorities there had prepared 300,000 hectares of land in case it is chosen as a new government hub, the agency said. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

infrastructure projects: In addition to the rules for ensuring transparency and responsible financing, Japan hopes to adopt the principle of ensuring openness of facilities without imposing restrictions on usage and economic efficiency by making infrastructure durable enough for long-term use, the sources said, according to The Japan Times. With Japan-China relations continuing to improve, Tokyo also expects the new rules to lay the groundwork for deeper cooperation between the two in foreign infrastructure projects. Some of Beijing's infrastructure financing projects have been criticized for burdening recipient countries with debts they can't repay, forcing them into concessions in exchange for debt relief. ; China has not openly opposed Japan's proposal in working-level preparatory meetings, but government sources said it is too early to say whether Beijing is willing to accept the proposed rules to increase transparency of contracts and give due consideration to the debt repayment capacity of countries receiving investments. Prime Minister Shinzo Abe is shifting toward conditional cooperation with Chinese President Xi Jingping's Belt and Road infrastructure initiative under which Beijing wants to expand infrastructure networks in Asia, the Middle East, Europe and Africa to achieve its goal of connecting nations along the ancient Silk Road trade routes. Leaders of some major countries attended the second summit of the Belt and Road forum held through Saturday in Beijing. China has been bolstering its economic clout with foreign investments, signing a memorandum of understanding with Italy last month to jointly advance the Belt and Road projects, the first time Beijing has struck a deal under the cross-border initiative with a Group of Seven industrial power. (news.financializer.com). As reported in the news.

investors: On April 1, local police announced they had detained 44 executives and mid-level managers of the company who prosecutors say will face criminal charges, according to Global Times China. Local police said the P2P platform designed fake financial products and sold them to investors through online and offline channels to illegally absorb public deposits. In late March, tuaidai went bankrupt and hundreds of individual and institutional investors launched a protest demanding their investments be paid back. The Dongguan police department has sent 31 working groups across the country to pursue the money and seized 1.21 billion yuan that was secretly transferred, according to the statement. The closure of tuandai. com is not a stand-alone case, as a string of online finance lenders went under in previous years, such as Qianbao and Ezubo. On Friday, the procuratorate of Dongguan approved the arrest of four suspects from tuandai for the crime of suspected fund-raising fraud and illegally absorbing public deposits, and another 37 suspects for illegally absorbing public deposits. (news.financializer.com). As reported in the news.

market rallies: When the market sells off 20%, 25% or so, they will come in to support it, and the market rallies again, he said at the time, according to Market Watch. Then it fades again and it goes deeper than the last time. In other words, not much upside and a downside that's limited by central banks. This is a very serious, very difficult market to have. Zulauf's take has been pretty much on point, and now, operating under the assumption that the current rally is, indeed, capped, he's following up with a mostly grim assessment of what's next. Shortly after that call, the stock market unraveled, only to start 2019 with a fresh assault on record highs. (news.financializer.com). As reported in the news.

p companies: The Nasdaq Composite Index COMP, -0.81% rose 15.46 points to 8,161.85, a gain of 0.2%. Both the S&P 500 and Nasdaq posted back-to-back record closes, marking the first consecutive record finishes for the indexes since a four-day streak ended Aug. 29, according to Dow Jones Market Data, according to Market Watch. What's driving the market Earnings season continues, with 164 S&P 500 companies, including five Dow components, set to report first-quarter results in the week ahead, according to Fact Set data. What are indexes doing The Dow Jones Industrial Average DJIA, 0.15% rose 11.06 points, or less than 0.1%, to end at 26,554.39, while the S&P 500 index SPX, 0.10% rose climbed 3.15 points, or 0.1%, to 2,943.03, ending off its best level of the session but surpassing an intraday record of 2,940.91, set Sept. 21, which some market technicians view as a constructive development. Through the end of last week, 46% of companies reported. But the statement and Chairman Jerome Powell's remarks will be closely watched for clues to their thinking. Federal Reserve policy makers are fully expected to leave interest rates on hold when they conclude a two-day meeting on Wednesday. (news.financializer.com). As reported in the news.

earnings: Sogou Inc, according to Xinhua China. SOGO Q1 2019 Earnings Call April 29, 2019, 7 30 a.m. More Image source The Motley Fool. ETContents Prepared Remarks Questions and Answers Call Participants Prepared Remarks Operator Ladies and gentlemen, thank you for standing by and welcome to Sogou's First Quarter 2019 Earnings Conference Call. After management's prepared remarks, there will be a question-and-answer session. At this time, all participants are in a listen-only mode. (news.financializer.com). As reported in the news.

cnn business: The move was first reported by the Financial Times, according to CNN. Shell's stand on LGBT rights under scrutiny over Brunei's anti-gay laws JPMorgan JPM confirmed the hotel ban to CNN Business but a spokesman declined to answer questions about its business activities in Brunei and other countries that discriminate against LGBT people. America's largest bank is the second major financial institution after Deutsche Bank DB to direct staff to avoid hotels including London's Dorchester and Los Angeles' Beverly Hills Hotel. Celebrities including Elton John and George Clooney have called on companies to boycott the hotels after Brunei brought in laws earlier this month that make gay sex and adultery punishable by stoning. Dealing with Riyadh Gay sex is a crime in 72 countries, according to Amnesty International, and punishable by death in eight of them including Iran and Saudi Arabia. Read More Clooney wrote late last month in an opinion piece for Deadline that governments are difficult to influence but you can shame the banks, the financiers and the institutions that do business with them. (news.financializer.com). As reported in the news.

fielding questions: Bowen took the brunt of the inquisition, fielding questions on franking credits, negative gearing and superannuation on the revenue-raising side, and the new childcare investment on the service side, according to The Guardian. A series of questioners, from a schoolteacher on the brink of retirement, wary of changes to super, to a middle-income voter set to lose out on his franking credits, drew lengthy explanations from the shadow treasurer. In the wake of the first leaders' debate, Monday night's program was characterised as a pivot point, where the campaign spotlight finally turned from personality to policy and the overarching philosophical clash between lower taxation and higher spending on services that ultimately characterises the contest. Shorten promises cheaper childcare as Morrison pledges refugee intake freeze Read more Asked whether Labor's childcare rebate would increase prices, with childcare operators pocketing the money as they did with the gas subsidy and solar subsidy Bowen said Labor would implement price controls as part of an agreement with providers. The government says therefore we're going to have a say in how much you charge. It's not dissimilar to private health insurance, he said. (news.financializer.com). As reported in the news.

hong ap: Jae C. Hong / AP file Breaking News Emails Get breaking news alerts and special reports, according to MSNBC. The news and stories that matter, delivered weekday mornings.SUBSCRIBEApril 29, 2019, 10 13 PM UTCBy Reuters Alphabet Inc's Google failed to reap the benefits of a strong economy that bolstered rivals in the first quarter as the leading internet ad company faced increased competition in its search and hardware businesses and suffered from disruptive changes at You Tube. People wait in line to enter the Google booth at CES International in Las Vegas on Jan. 10, 2018. Shares of Alphabet dropped 7 percent after hours after closing up 1.5 percent at a record-high of 1,296.20. Sales of Google's Pixel phones also struggled amid intense competition in the premium smartphone market, she said. Alphabet Chief Financial Officer Ruth Porat told analysts the company was experimenting with its ad products as users grow reliant on mobile devices and that it was seeing revenue volatility as a result. (news.financializer.com). As reported in the news.

investment decisions: The BoC was overly optimistic about growing strength in exports and business investment, neither of which picked up as expected, according to The Toronto Star. We were trying to capture something that is quite ephemeral, business sentiment, which translates into investment decisions, Stephen Poloz, the Bank of Canada governor, said last week about the bank's optimistic outlook. But the actual numbers came in at 0.4 per cent and 0.3 per cent, respectively, which got some analysts worrying about a recession. Sean Kilpatrick / THE CANADIAN PRESS We were trying to capture something that is quite ephemeral, business sentiment, which translates into investment decisions, Stephen Poloz, the BoC governor, said last week. You can see how unanticipated disruptions could make a hash of that forecast, too. The second-half rebound the BoC now forecasts is based on an expected housing-market recovery, wage gains and a revival in the global economy. (news.financializer.com). As reported in the news.

police station: It's another step in the national deployment of 5G, but analysts said that full 5G development will take time, according to Global Times China. According to sznews, the police station is located in Tangtou village in the western Bao'an district of Shenzhen, widely seen as the next Silicon Valley. Photo IC China's first 5G police station, featuring cutting-edge technology such as augmented reality AR glasses and patrol drones, has been unveiled in Bao'an district in Shenzhen, South China's Guangdong Province. The station has only 46 police but covers about 123,000 people. Key applications of the technology have enabled real-time ultra-high definition image transmission, facial recognition, police drone patrols and AR smart glasses at the station. The 5G-related technology is being used to increase police efficiency and ease pressure on the police. (news.financializer.com). As reported in the news.

rapper jay-z: As a result and after careful consideration, Dentsu Aegis Network's Amplifi Live, a partner of Woodstock 50, has decided to cancel the festival, the statement added, according to The Japan Times. The August 1969 Woodstock festival, billed as three days of peace and music, is regarded as one of the pivotal moments in music history. Woodstock 50 was due to have taken place Aug. 16-18 in Watkins Glen in upstate New York with a lineup that included rapper Jay-Z, singer Miley Cyrus and rockers The Killers. ; Despite our tremendous investment of time, effort and commitment, we don't believe the production of the festival can be executed as an event worthy of the Woodstock Brand name while also ensuring the health and safety of the artists, partners and attendees, investors Dentsu Aegis Network, a unit of Dentsu Inc said in a statement. The producers of the 50th anniversary event did not immediately return a call for comment on the Dentsu statement. Twitter Facebook Linked In LATEST ENTERTAINMENT NEWS STORIESOprah Winfrey 'quietly figuring out' how to wield her political clout in 2020Media mogul Oprah Winfrey, whose opinions can get millions of fans to try a new diet or turn a book into an international best-seller, is figuring out which Democratic candidate she will endorse in...'Boyz N the Hood' Oscar-nominated director John Singleton dies at 51Director John Singleton, who made one of Hollywood's most memorable debuts with the Oscar-nominated Boyz N the Hood and continued over the following decades to probe the lives of black communitie... First museum dedicated to Japanese folklore monsters opens near Hiroshima Japan's first museum of supernatural monsters opened Friday in Hiroshima Prefecture, allowing visitors to get immersed in a strange world of yokai through historical artifacts and interact... /4973089/JT-teads googletag.cmd.push function googletag.display ; ; (news.financializer.com). As reported in the news.

sociopolitical topics: The four broadcasters say the channel will feature a broad range of sociopolitical topics covered in reports, background stories and interviews, according to Deutsche Welle. Credible information, independent opinions We want to use our You Tube channel to provide viewers with credible information that will help them form their own opinions, said DW Director General Peter Limbourg. DW has collaborated with the BBC, France24 and Voice of America to create the channel and will join with them in providing video content for it. This is a truly unique collaboration with global media outlets aiming to deliver content to a Turkish-speaking audience that is interested in international politics, business, science and culture, said Limbourg. Our four media outlets will provide a comprehensive offering of news, partly with the aim of strengthening freedom of speech and the press, explained Limbourg. This is a truly unique collaboration with global media outlets' DW Director General Peter Limbourg During a press conference held in Istanbul on Monday, the four international broadcasters have officially uploaded the channel, and a number of videos covering topics ranging from Turkey's current construction crisis to the issue of child brides is already available. if !window.twttr window.twttr function d, s, id var js, fjs t window.twttr ; if d.get Element ById id return t; js d.create Element s ; js.id id; js.src fjs ; t. e ; t.ready function f t. e.push f ; ; return t; document, script twitter-wjs ; twttr.ready function twttr link Color ' 0087eb', width '550', align 'center' ; ; Round-the-clock access In the future, each international broadcaster will provide an equal amount of video content to the channel, which can be accessed by users at any time. (news.financializer.com). As reported in the news.

state media: Russian authorities have invested heavily in the animation sector in recent years, after it, like others, was left in ruins following the breakup of the Soviet Union in 1991, according to The Japan Times. Parovoz is part of a state media holding and has grown from around 20 to 300 employees. With its Netflix contracts, state-owned Parovoz which means locomotive in Russian is at the forefront of a resurgence of the country's animation industry. ; But, for some observers, the revival comes at the expense of a tradition for innovation dating back to the Soviet-era heyday. Its animated series are shown in 55 countries. Last year, two Parovoz productions were bought by the U.S.-based streaming service Netflix one of them, Leo and Tig, is about the adventures of a tiger and leopard in Siberia. Chief executive Anton Smetankin, who co-launched the studio in 2014, said it had a product for every market. (news.financializer.com). As reported in the news.

tariff hikes: These include the announcement of further measures in deepening and broadening China's reform and opening-up process, including widening market access for foreign investors and strengthening intellectual property IP protection, with China's huge domestic markets pledging to procure even more foreign goods, according to Global Times China. This is of course in stark contrast to US administration's frequent threats of tariff hikes to deter foreign goods. President Xi Jinping's speech at the opening ceremony echoed both the yearnings among many countries along the route of the Belt and Road Initiative BRI for two-way traffic in BRI dealings as well as the continuation of free trade. The vast China market is a most coveted one for countries with economies steeped in export of commodities and manufactured products. Similarly, the tightening of IP protection would spur further foreign direct investment FDI into China by the more advanced BRI countries, thereby realizing an open participation by all Belt and Road nations in each other's economies. So Xi's announcement of further opening-up of the Chinese economy for foreign goods and services is a most welcome move and is likely to uplift the economic performance of these countries. (news.financializer.com). As reported in the news.

mainstream narratives: To Maddow's horror, You Tube algorithms could have left thousands exposed to an episode of the RT program On Contact featuring two award winning journalists challenging mainstream narratives on the Russiagate incident, according to MSNBC. One of the journalists in question, On Contact host and Pulitzer Prize winner Chris Hedges, says that the incident sheds light on the shortcomings of the mainstream media It exposes the bankruptcy of the corporate media and the American press, which spent over two years peddling a fantasy instead of focusing on the real issues. Maddow's reaction came in response to a Washington Post article detailing the shocking' revelation that RT content was allegedly promoted by You Tube to help understand the Mueller report. Hedges, believes Maddow's motivations for crying foul likely go beyond her anger over people being exposed to alternate viewpoints. CNN made more money last year than I think they've ever made in their history, Rachel Maddow is the top rated show and probably the prime conspiracy theorist, he pointed out. This is about profit. (news.financializer.com). As reported in the news.

march: If single, you grow in new ways and evolve into a deeper person, according to The Toronto Star. The person you attract today might not be of interest in a year. Many unusual ideas will come forth. Take your time. PISCES is often ungrounded.ARIES March 21-April 19 Your instincts guide you to the correct financial solution. If you're attached, your sweetie might enjoy the new inspirational thoughts and ideas that emerge from you. (news.financializer.com). As reported in the news.

rape: New standardised forms being rolled out by police in England and Wales ask people alleging a variety of crimes, including rape and sexual assault, for permission to access their messages, emails, photographs and social media accounts, in order to improve the chances of a successful prosecution, according to Nine News Australia. But the move has been condemned for treating rape victims like suspects and women's rights groups fear it will deter victims from coming forward to report crimes. To improve your experience update it here News NationalUK police demanding rape victims hand over phones to secure prosecution face criticism By CNN10 11am Apr 29, victims in the United Kingdom are to be told to hand over their mobile phones and social media accounts to police or risk seeing their cases collapse, under new guidelines that have come under fire from women's rights groups and senior police figures. Rape victims in the UK are being told by police to hand over their mobile phones and social media accounts to help secure a prosecution. Most complainants fully understand why disclosure of communications with the defendant is fair and reasonable, but what is not clear is why their past history including any past sexual history should be up for grabs, Harriet Wistrich, director of the Center for Women's Justice, said in a statement. PA/AAP A group that provides legal support for victims of sexual assault has also warned police they will launch a challenge in the courts to halt the strategy. (news.financializer.com). As reported in the news.

palmer referenced: In a prepared statement read out to journalists on Monday, Palmer referenced a series of conversations he claims he had with Labor figures about UAP preferences, and declared Bill Shorten's repeated lies about preferences confirm my judgment that he's not morally fit to be prime minister of Australia . Campaigning ahead of Monday night's first leader's debate, Morrison was asked whether he sought assurances that Queensland Nickel workers would be paid not just the remaining 7m but also the 70m picked up by taxpayers before striking the recent preference deal with Palmer and the UAP. Question mark over eligibility of at least 19 Clive Palmer candidates Read more Morrison didn't answer the question he was asked, telling reporters Palmer put that money aside as I understand and the other matters are being pursued through the courts, according to The Guardian. Those matters are going through the court. Morrison's deflection on the hustings in Perth came as Palmer resumed his criticisms of the ALP, suggesting Labor was saying one thing but doing another on preferences. The prime minister then advised Labor which has been intensely critical of the UAP preference deal to take a chill pill on this discussion . Separately in Brisbane, Palmer appeared at a press conference and read a statement and then departed before taking any questions. What bothers me about the Labor party is their willingness to lie repeatedly and that must to me be an indication of dishonesty, Palmer said. While Labor has been blasting the Liberals for days about dealing with Palmer given his parliamentary record and corporate controversies, Palmer on Monday detailed several contacts with Labor figures about UAP preferences, including the Queensland senator Anthony Chisholm, and a former Labor minister who he did not name. (news.financializer.com). As reported in the news.

service: Dean, a 77-year-old grandfather, was duped after answering a call on his new landline, according to Nine News Australia. The caller claimed to be from the NBN, and said he was going to be refunded 300 because his new internet service wasn't working properly. To improve your experience update it here News National'They're low-lives' WA grandfather scammed after connecting to NBNBy Louise Rennie Reporter9 32pm Apr 29, Australian seniors have been conned out of tens of thousands of dollars in a fake telco scam, targeting newly-connected National Broadband Network customers. Senior West Australians have been scammed. 9news The retiree said he was then passed on to a fake Telstra worker. But the scammers had already gained access to his computer, drawing 10,000 from his credit card. I said, are you sure you're from Telstra ' And she said yeah, yeah, I'll prove it to you, I'll give you all your information', Dean told 9News. (news.financializer.com). As reported in the news.