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

space station: But the launch was called off as the crew worked to restore the station's full power supply, according to CNN. The space station's crew was not in immediate danger, NASA said in a blog post. Electrical problems left the space station running on about 75% its normal power supply, delaying SpaceX's latest uncrewed resupply mission to the ISS. The rocket company was supposed to drop off a bundle of hardware and supplies this week. NASA announced Thursday that its efforts to replace a piece of failed electrical equipment were successful, the space agency said in a blog post. Read More Some bad weather could move from the Bahama's to Florida's Space Coast, where SpaceX is set to launch, according to Will Ulrich, a launch weather officer with the US Air Force 45th Space Wing. SpaceX is now lined up to begin its cargo mission on Friday at 3 11 am ET but there may be another roadblock. (news.financializer.com). As reported in the news.

investors: The UK-China Fund is intended to promote cooperation between the two countries in areas including energy, technology, healthcare and manufacturing, and has been endorsed by Beijing and Westminster, according to The Guardian. However, one person who was asked to become involved in the project told the It's completely moribund They approached all the big banks and other serious investors. One person who was asked to put money into the project described it as moribund according to the Financial Times, signalling slow progress nearly 16 months after it was launched. And I don't know of anyone that's put money up. But they hinted at an imminent breakthrough based on commitments by unnamed investors within weeks, blaming Brexit uncertainty for the lacklustre progress to date. Sources close to the UK-China Fund said it was yet to complete a first round of fundraising, which would typically be expected to raise about half of the 1bn target. (news.financializer.com). As reported in the news.

safety: Under the Coalition's plan to boost funding for the Pharmaceutical Benefits Scheme, concession card holders will meet the safety net for free medicines after 48 scripts, down from 60, while the level for non-concession card holders will be 36, down from 38, according to The Guardian. This returns the safety net to the level it was at in 2009. The competing funding promises come as both leaders return to Tasmania, where the Labor-held seats of Braddon and Bass are seen as vulnerable. Drugs listed on the PBS cost 6.50 per script for concession card holders or 40.30 per script for general patients. Australians suffering from chronic conditions such as heart disease, high cholesterol, arthritis, asthma, diabetes and cancer are those most likely to benefit given they access multiple medicines. About 1.4 million people will benefit from the policy change, with individuals saving an average of 80 a year. (news.financializer.com). As reported in the news.

theme: By default, your stylesheet will be loaded after the theme stylesheets, which means that your rules can take precedence and override the theme CSS rules, according to MSNBC. Just write here what you want to change, you don't need to copy all your theme's stylesheet content. You may delete these comments and get started with your customizations. If you need any further help, ask in the CSS Customization forum. / Skip to main content Five Thirty Eight Search Search Menu Which 2020 Candidates Could Still Have A Breakout Moment Share on Facebook Share on & News Politics Podcast Mueller's Letter May 1, 2019, at 11 18 AMWhich 2020 Candidates Could Still Have A Breakout Moment A Five Thirty Eight Chat Filed under 2020 Democratic Primary Facebook Twitter Welcome to Five Thirty Eight's weekly politics chat. The idea is that we'll discuss which candidates still have breakout star potential even though they're not leading in the polls. The transcript below has been lightly edited.sarahf Sarah Frostenson, politics editor Today we're back with a 2020 snake draft!!! But with a twist no discussion of the Big 6, which we're defining as the early polling front-runners Joe Biden, Bernie Sanders, Elizabeth Warren, Pete Buttigieg, Kamala Harris and Beto O'Rourke. (news.financializer.com). As reported in the news.

cap: Gendell Jeffrey L who had been investing in Cit Group Inc for a number of months, seems to be less bullish one the 5.15B market cap company, according to MSNBC. The stock decreased 1.22% or 0.65 during the last trading session, reaching 52.62. The institutional investor held 56,744 shares of the consumer services company at the end of 2018Q4, valued at 2.17M, down from 160,400 at the end of the previous reported quarter. About 166,911 shares traded. CIT has declined 4.04% since May 1, 2018 and is downtrending. CIT Group Inc. (news.financializer.com). As reported in the news.

article images: Savita Subramanian, equity and quant strategist with Bank of America Merrill Lynch, estimated in a Monday research note that U.S. dollar DXY, -0.04% strength will ultimately shave 2.1 percentage points from sales growth for the S&P 500 index SPX, -0.75% the largest such drag since the fourth quarter of 2015, according to Market Watch. Caption outside of wrapper for normal article images She also estimated that absent these currency headwinds, sales growth for U.S. large caps in the first quarter would have grown 8% year-over-year, versus a 6% rise in the fourth quarter. That's especially true among investors in big U.S. multinational companies whose sales abroad greatly feel the pinch of a strong dollar. The strong dollar is definitely a headwind, Alec Young, managing director of global markets research at FTSE Russell told Market Watch. Several U.S. multinational companies have so far referenced the strong dollar as an obstacle to better performance in the first quarter of 2019, including Dow Jones Industrial Average DJIA, -0.61% components Procter & Gamble Co. He said that a strong dollar hurts U.S. multinational companies in two ways by making U.S. goods more expensive for foreigners to buy, relative to producers from countries with weaker currencies, and because when foreign sales are made, they get converted back into dollars at an unfavorable exchange rate, squeezing profits. (news.financializer.com). As reported in the news.

canadian officials: We have to step up the intensity, one Weibo user wrote on Monday, in response to reports of issues with Canadian soybeans imports, according to Global Times China. If we hit them, we need to inflict maximum pain on them another wrote. Expressing anger toward Canadian officials in their handling of the case of Huawei CFO Meng Wanzhou, many took to social media platform Weibo to urge the Chinese government to take firm action that should inflict pain on the Canadian economy, including restricting imports of Canadian agricultural goods, pork, seafood and beyond. Reuters reported on Monday that traders have faced obstacles in exporting Canadian soybeans and peas to the Chinese market and Chinese customs inspectors found ants in some Canadian soybeans. As bilateral relations between Beijing and Ottawa deteriorated badly over Meng, who remains under house arrest and faces extradition proceedings to the US, trade ties have taken a beating. Canadian pork shipments have also been held up over paperwork issues, Reuters reported. (news.financializer.com). As reported in the news.

carbon dioxide: Both interventions highlight the severity of the climate challenge that the world faces, according to The Japan Times. 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. 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. Zero net CO2 emissions by 2050 at the latest should be the legally defined objective in all developed economies. ; The central bank governors' statement, together with steps to require clearer company disclosure of climate-related risks, has fueled optimism in some quarters that a free-market solution is possible. But there are limits to what better information and foresight alone can achieve. With falling renewable-energy costs threatening to leave fossil-fuel companies with loss-making stranded assets, well-informed investors will, it is hoped, withdraw funding from companies still searching for new oil or gas reserves or from automotive companies still committed to gas-guzzling SUVs. (news.financializer.com). As reported in the news.

customs duties: These customs duties average 1.5 percent, which is still quite low, according to The Japan Times. But they can be higher in some sectors such as the crucial automotive sector where they are 10 percent. The warning came as Jaguar Land Rover said its new Land Rover Defender model would be assembled in Slovakia but did not blame the move on the U.K.'s departure from the European Union. ; The Society of Motor Manufacturers and Traders SMMT said the worst-case scenario would be for Britain to depart the EU without a deal struck with Brussels, forcing it to endure tariffs set by World Trade Organization rules. Should Britain crash out of the EU and fall back on WTO rules for a sustained period, U.K. car output is forecast to fall around 30 percent on recent levels to just 1.07 million units by 2021, a level consistent with the dark days of the mid-1980s, the SMMT said in a release. The SMMT on Tuesday added that in the event of a favorable deal and transition period maintaining the status quo, U.K. car production could be 1.36 million units in 2019, down from 1.52 million in 2018, before rising to 1.42 million by 2021. Britain is due to leave the European Union on Oct. 31 after two delays this year triggered by MPs rejecting the divorce deal British Prime Minister Theresa May has struck with the bloc. (news.financializer.com). As reported in the news.

clients behavior: In autumn and winter, daylight decreases and so does our mood, which in turn can cause investors to become more conservative about risk, according to Market Watch. These seasonal impulses to buy and sell can be difficult for investment advisers to navigate. Research shows that at the first sign of spring, newly optimistic investors have more risk tolerance. With spring now in full bloom, take notice of your clients' behavior, and respond accordingly. Stick to the plan A financial plan is set up for a reason. Here are three ways advisers can help ensure that their clients are not making emotional, seasonal investment decisions 1. (news.financializer.com). As reported in the news.

decision wednesday: The Fed has not raised the key rate this year and in fact signaled clearly that it will hold off on any further moves while it evaluates the U.S. economy and is widely expected to stand firm in its decision Wednesday, according to The Japan Times. The central bank has tightened policy nine times since December 2015, moving from zero in the aftermath of the global financial crisis to the current range of 2.25 percent to 2.5 percent. In a Twitter outburst on the first day of a two-day central bank meeting to decide the course of monetary policy, Trump said, We have the potential to go up like a rocket if we did some lowering of rates, like one point. ; He said China is boosting its economy by keeping rates low, but Our Federal Reserve has incessantly lifted interest rates, even though inflation is very low. Trump has repeatedly ignored norms designed to protect the Fed's independence from political influence, which could undermine its credibility, although other White House officials have been more cautious. Trump and his economic team have promised that tax cuts and deregulation will accelerate economic growth to three or even four percent but economists say that is unlikely, especially as the U.S. trade war with China and others has dampened business confidence and investment. Yes, we are doing very well at 3.2% first quarter GDP, but with our wonderfully low inflation, we could be setting major records & at the same time make our National Debt start to look small! Trump tweeted. (news.financializer.com). As reported in the news.

gr ie: Just 12 per cent of respondents said their own families have benefited a great deal; from US economic growth under Mr Trump, while 27 per cent said they have noted benefited much, according to The Independent. Another 27 per cent said they did not benefit at all from economic growth under the current administration. While the richest Americans expressed the most satisfaction with the president's economic policies in the Monmouth national poll released Tuesday, 54 per cent of those surveyed said they had not benefited much or at all from the seemingly strong economy. A higher satisfaction with recent economic growth could be seen among the nation's highest earners. You can form your own view. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 We'll tell you what's true. (news.financializer.com). As reported in the news.

ipo valuation: We're not surprised, and we won't be surprised if Uber's UBER, 0.00% valuation falls even further, according to Market Watch. Anything above a valuation of around 20 billion is a rip-off and makes no sense. Lowering the anticipated IPO valuation from a rumored 100 billion to between 80 billion and 90 billion means investors are not buying the pitch as well as hoped. Whether before or after the initial offering, the valuation of this stock will likely fall hard and fast. Frankly, we're surprised the jig isn't up for Lyft LYFT, -1.76% and Uber given that neither, in their public filings, even attempt to explain how they will ever make money. As soon as markets wise up to the fact that this deal is nothing more than a mechanism to dump a terribly overpriced private company onto unsuspecting pubic investors, look out below. (news.financializer.com). As reported in the news.

group: The corporate logo of MTY Food Group Inc. is shown, according to The Toronto Star. HO / THE CANADIAN PRESS Allo! Mon Coco has 39 franchised restaurants including 38 in Quebec and one in Ontario.MTY says the chain had roughly 57 million in system sales in the last 12 months. Financial terms of the deal were not immediately available. The deal includes the Allo! Mon Coco trademark for the world except the United States. Article Continued BelowMTY is a franchisor and operator of a broad range of restaurants including shopping mall food court staples such as Thai Express, Vanellis and Manchu Wok, as well as full-service restaurants such as Baton Rouge, Pizza Delight and Scores. Under the deal, MTY will obtain a right of first refusal should the owners of the trademark for the United States decide to sell it. (news.financializer.com). As reported in the news.

guardian: The Guardian understands that several potential buyers have expressed an interest in the business, which administrators said they hoped to sell before the end of the year, according to The Guardian. The Guardian view on a new social care plan too little, too late Editorial Read more But Four Seasons' financial failure has raised questions about the long-term future of a firm that has struggled badly under successive owners, Guernsey-based private equity group Terra Firma and Qatar's sovereign wealth fund. Four Seasons and the sector's regulator, the Care Quality Commission, said they did not expect any disruption to residents' lives, nor the closure of any of its 322 homes, which employ 22,000 people. Industry experts said it could now be taken over and broken up by its largest lender, H/2 Capital Partners, a little-known US property investment group that effectively controls the business. Barbara Keeley, the shadow minister for social care and mental health, said The fragility and instability in the care sector is an inevitable consequence of years of underfunding by the Conservative government, but the real price of this instability and underfunding is now being paid by the 17,000 older people in Four Seasons care homes and their families who face an uncertain future. Labour criticised the government's handling of the ailing social care sector and questioned the debt-fuelled business model that has become a common feature. (news.financializer.com). As reported in the news.

meaning mediahuis: INM had 81.7m of cash on its balance sheet at the end of its last financial year, meaning Mediahuis in effect paid 63.9m for the business, according to The Independent. O'Brien, Ireland's richest man, is the biggest INM shareholder, with a 29.9% stake, and will receive 43.5m from the deal. Independent News & Media, which publishes Ireland's biggest-selling daily and Sunday papers the Irish Independent and Sunday Independent as well as the Belfast Telegraph and a large number of regional titles, accepted the 145.6m 125.2m offer from Mediahuis. However, he spent more than 500m buying INM shares to oust the former owner Tony O'Reilly. The INM chairman, Murdoch Mac Lennan, who was formerly chief executive of Telegraph Media Group in the UK, said We believe the deal represents an excellent outcome for both the company and its shareholders. Dermot Desmond, INM's second-biggest investor and the single largest shareholder in Celtic football club, will make 21.8m from the sale of his 15% stake. (news.financializer.com). As reported in the news.

paul laurora: But as the student debt crisis worsens they are drawing more attention, according to The Japan Times. That debt load, which now tops 1.5 trillion nationwide, means many Americans must delay or give up on dreams of home ownership and other large purchases, and that in turn puts a damper on the economy more broadly. The approach offers a degree of protection as they are not required to make payments if they are unable to find a job after graduation and for as long as their salary remains below a certain threshold. ; These Income Share Agreements, or ISAs, are only offered so far by a few universities, as well as vocational training centers such as computer coding schools. It is thanks to an ISA that Paul Laurora will graduate on May 11 from Purdue University, Indiana, as a chemical engineer. When a bank refused to give him a new loan, he started selling some possessions on eBay and even considered dropping out of school to take a job for a semester, or using his parents' retirement savings. Despite state-subsidized loans, his own savings, and a contribution from his parents, the 22-year-old ran out of money after only two years of studies, with tuition and fees costing 40,000 a year for students from outside of Indiana. (news.financializer.com). As reported in the news.

remarks operator: Waddell & Reed Financial Inc WDR Q1 2019 Earnings Call April 30, 2019, 10 00 a.m, according to The Independent. ETContents Prepared Remarks Questions and Answers Call Participants Prepared Remarks Operator Good morning and welcome to the Waddell & Reed Financial Incorporated First Quarter 2019 Earnings Conference Call. More Image source The Motley Fool. Operator Instructions Please note this event is being recorded.I would now like to turn the conference over to Mike Daley VP Corporate Controller and Investor Relations. Mike Daley -- Vice President Thank you. Please go ahead. (news.financializer.com). As reported in the news.

repos: A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future, according to Global Times China. There are no reverse repos due this week. The People's Bank of China PBOC on Tuesday announced the decision to skip reverse repos in a statement as interbank liquidity was at a relatively high level due to stronger fiscal spending at the end of the month. China's monetary policy should be neither too loose nor too tight, while liquidity will be kept at a reasonable and ample level, according to a statement issued after a quarterly meeting of the monetary policy committee of the PBOC earlier this month. (news.financializer.com). As reported in the news.

transportation hubs: Now, there is one clear fact, without robust local economies, global integration cannot be successful, according to Global Times China. African policymakers must focus on SMEs to follow through with economic growth plans. For 2019, the World Bank has forecast weak growth due to the lack of comprehensive regulations under global commerce integration and the ability to deliver at the local level. While African countries are busy with important infrastructure projects such as transportation hubs, power plants, and industrial capacity, efforts on linking local economies with these initiatives are imperative. The 21st century economy is far different from the one developed after World War II. The internet is an essential component for economic growth. Governments need to financially empower their country's populations, or otherwise risk confronting expensive and useless endeavors. (news.financializer.com). As reported in the news.

penny: Two years after purchasing units in the Cosmos condos project near Vaughan Metroplitan Centre, buyers received refunds and letters telling them the project had been cancelled solely due to the inability to secure satisfactory construction financing, according to The Toronto Star. Bernard Weil / Toronto Star File Ontario Superior Court Justice Michael Penny rejected the application to have their purchase agreements on the pre-construction units declared unlawful. It's a decision one real estate lawyer says sets a legal precedent that will discourage other buyers. In his ruling, Penny sided with the developers but found that voiding the contract would not be in the purchasers' or the developers' best interest. Lawyer Bob Aaron, who specializes in real estate law, called the outcome unfortunate for the buyers, not just of Cosmos but for every project that has been cancelled. Even though they had their deposits refunded, many of the buyers say the cancellation caused them to be left behind on the property ladder because the cost of homes soared in the Toronto region during that period. (news.financializer.com). As reported in the news.

sales levy: Tesco says the government could use that revenue to fund a 20% cut in business rates for all bricks-and-mortar retailers, according to The Guardian. It says small businesses could be exempted from the online sales levy. Sainsbury's sales slide as Aldi continues rapid growth Read more The supermarket suggests the government could raise 1.5bn via an online sales levy of 2% on physical goods, as defined by existing VAT regulations. There is overwhelming evidence that the business rates system is not equitable and is damaging investment and growth, Tesco said in its submission. In 2015, he warned against a lethal cocktail of 14bn in extra costs over five years from an increase in business rates and the introduction of the national living wage and apprenticeship levy. We believe action must be taken to avoid prolonging an anachronistic tax that has not materially changed since 1988 and is damaging communities across the UK. Tesco's written evidence ramps up a campaign for change led by its chief executive, Dave Lewis, who first called for an Amazon tax last year. (news.financializer.com). As reported in the news.

police use: Little is known about Wayne Strawhorn's evidence which was largely heard in secret over fears it would identify other police informers whose lives are at risk if their identities are revealed, according to Nine News Australia. Mr Strawhorn took to the witness box today as the second round of hearings began in the royal commission into police use of informers. To improve your experience update it here News National Jailed former detective gives Lawyer X evidence By AAP7 29pm Apr 30, 2019Facebook Tweet MailA once-distinguished Victorian drug squad officer jailed for trafficking drugs to an underworld figure has given evidence behind closed doors about his involvement with Lawyer X, Nicola Gobbo. Now retired, he was associated with Ms Gobbo during her first period of informing in the early 1990s when she represented a number of people arrested by the squad. AAP Later, when she became a barrister and made allegations of money laundering against a prominent lawyer, detectives from the unit including Mr Strawhorn introduced her to officers who registered her a second time. Lawyer X, Nicola Gobbo, who worked as a police informant. (news.financializer.com). As reported in the news.

venezuelan: Anchor Andrea Mitchell introduced Sanders for his report by commenting on the surprising ability of Venezuelan dictator Nicol s Maduro to stay in power, despite the pressure on him to step down, according to MSNBC. Not only hanging on but he appears to still control the military, Sanders said. So if the military have the guns, they have the power'Share Tweet Email Andrew Kugle Follow AndrewJKugle April 30, 2019 1 10 pmMSNBC reporter Kerry Sanders unwittingly made the American case for the Second Amendment during a report Tuesday on the political upheaval in Venezuela. You have to understand, in Venezuela gun ownership is not something that's open to everybody. Maduro's socialist regime has presided over economic devastation in Venezuela, where citizens are beset by rising prices and food and medical shortages. So if the military have the guns, they have the power and as long as Nicol s Maduro controls the military, he controls the country. (news.financializer.com). As reported in the news.

los angeles: Facebook Twitter Email Print Women dominate at Milken By BEN WHITE and ZACHARY WARMBRODT 04/29/2019 10 03 PM EDTPresented by the American Investment CouncilWOMEN DOMINATE AT MILKEN Several attendees this year commented to MM that there are more women on stage and in the hallways at the Milken Institute Global Conference in Los Angeles than ever before, according to MSNBC. And it certainly seems that way to us. Get the Morning Money at the Milken Institute Global Conference Newsletter Email Sign UpBy signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time. It's much less dudes-in-blue-suits dominated than in the past though there are still plenty of us . And a lot of the conversations so far focused on the need for both corporate America and the public sector to continue diversifying their work force and recognize the vast economic potential of removing existing barriers to women's advancement while taking a sledgehammer to the pay gap.MM hears there was a near fist fight between attendees trying to squeeze into the Ivanka Trump lunch panel more on which below . The line to get in was INSANE. MM gave up and watched it from the courtyard, which is actually kind of the best place to watch stuff out here. Transportation Secretary Elaine Chao at a panel moderated by our Anna Palmer I've assembled a team where 50 percent of leadership is women, managers of huge departments. One plugged in source noted that Ivanka was a much bigger draw than her husband Jared Kushner, who only did a private session on the Mideast. (news.financializer.com). As reported in the news.

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.