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

morning session: It also triggers the market's expectations for favorable policies to be rolled out to boost the industry, Wu Chenhui, an independent rare-earth analyst, told the Global Times on Tuesday, according to Global Times China. As of the close of the morning session on Tuesday, the overall rare-earth stock sector rose by 6.64 percent, just after the rice wine sector. The visit shows the government's emphasis on the rare-earth market. JL MAG Rare-Earth Co, the company visited by Chinese President Xi Jinping on Monday, is a high-tech company specializing in research and development of rare-earth permanent magnetic materials in Ganzhou, Jiangxi. China North Rare Earth Group, based in North China's Inner Mongolia Autonomous Region, also saw its shares rise by the trading ceiling of 10 percent on Tuesday morning to 12.76 yuan per share. Its shares rose by the trading limit of 10 percent on Tuesday morning to 28.56 yuan 4.13 . This is the second consecutive day for the company's shares to touch the investment cap. (news.financializer.com). As reported in the news.

percent growth: The government maintains that economic conditions remain steady, citing the robust job market data and corporate earnings, according to The Japan Times. But regardless of whether it changes its official assessment, the state of the economy calls for more policy steps to drive up domestic demand as the main engine of growth. ; The economy expanded an inflation-adjusted 0.5 percent from the previous quarter, which translates into 2.1 percent growth in annualized terms, despite the dip in most of its key components. The GDP growth for the two consecutive quarters does not warrant any optimism over the course of the economy, as other indicators point to increasing signs that it may be losing steam as uncertainties prevail concerning overseas demand with intensifying trade war between the United States and China. Consumer spending, which accounts for 60 percent of GDP, edged down 0.1 percent for the first fall in two quarters, while capital investments by businesses, another key pillar of domestic demand, declined by 0.3 percent, reflecting poor appetite for investment as output falls due to tumbling exports to China. Exports plunged by 2.4 percent due to sluggish shipments of semiconductor production equipment and electronic devices to China, whose economy is showing more signs of slowdown due to bitter exchange of retaliatory tariffs with the U.S. In trade statistics, exports have declined year-on-year for four months in a row to March. Public investments rose 1.5 percent for the first gain in five quarters, with the implementation of extra budget spending on anti-disaster measures in response to a spate of natural disasters last year. (news.financializer.com). As reported in the news.

points: On Monday, it rose 51.64 points. ; The Topix, which covers all first-section issues on the Tokyo Stock Exchange, fell 4.62 points, or 0.30 percent, to end at 1,550.30 after gaining 0.67 point Monday, according to The Japan Times. Both indexes declined for the first time in three market days. The Nikkei 225 average finished down 29.28 points, or 0.14 percent, at 21,272.45. The Nikkei dipped soon after the opening and stayed in negative territory throughout the morning session, after all three key U.S. stock indexes dropped Monday. The Nikkei briefly pared its losses and entered into positive territory in the afternoon, backed by a rise in Shanghai shares, they said. The Wall Street slump came as Google and some other companies are reported to be planning to stop dealing with China's Huawei Technologies after U.S. President Donald Trump, apparently targeting Huawei, signed an executive order last week to ban the use of foreign communications equipment that could seriously jeopardize U.S. national security, brokers said. (news.financializer.com). As reported in the news.

shenzhen ren: Huawei has been preparing for the worst-case scenario if the US completely cuts off supply, and US officials might have underestimated our capabilities, as our advanced sector will not be affected by US sanctions, Huawei founder and CEO Ren Zhengfei told a group interview on Tuesday at the company's headquarters in Shenzhen, according to Global Times China. Ren made the remarks just hours after the US Department of Commerce issued a 90-day temporary license granting operators to make other arrangements and allowing operations to continue for existing Huawei mobile phone users and rural broadband networks. Photo AP While the Huawei crisis has given a boost to the domestic semiconductor industry and made technology self-reliance much more urgent, Chinese industry executives have called for broader global collaboration to guarantee major technological breakthroughs. This temporary license is not that meaningful as we've been well prepared and have kept our core technologies intact, Ren said. Huawei's Plan B also boosted the domestic semiconductor industry, which still lags behind foreign competitors in core technologies and relies heavily on imported chipsets and components. Faced with a US blacklisting, Huawei had activated its backup chipsets, developed by semiconductor subsidiary HiSilicon, in case the US government curbs the company's access to American suppliers. (news.financializer.com). As reported in the news.

technology: Yet, we should be confident in the semiconductor research and development capabilities China has developed for decades, according to Global Times China. A decisive moment is needed to change people's perceptions. The US is the leader in information and communications technology ICT . It will be a challenge not to rely on US components, and short-term pains will be inevitable. Once the world realizes that Huawei's development still continues, everyone will know it is useless for the US to engage in a technical blockade and Chinese technology companies cannot be hindered. They seem to believe that it is impossible for the Chinese to master advanced technologies by themselves, unless they steal US technology to develop. For a long time, the US has held a certain contempt toward China. (news.financializer.com). As reported in the news.

successes: Trump predicted that it should be very easy to debate the eventual 2020 Democratic nominee because of his economic successes, according to CNN. Those debates should be very easy when we meet whoever we're going to meet, he said. His speech touched on familiar topics, such as immigration, and he slammed Democrats and touted his own record. The rally in central Pennsylvania, a key battleground state, highlights Trump's commitment to campaign in areas that have been flashing warning signs for his reelection campaign. I'll be seeing a lot of you all in the next year ... Gotta win this state, he said. Trump foreshadowed that he will be back here quite a bit in the coming year. (news.financializer.com). As reported in the news.

gatwick outlets: Only his three outlets at Gatwick airport will remain in operation as administrators seek a buyer, according to The Guardian. But a further 300 jobs, mostly at the Gatwick outlets, remain at risk. The celebrity chef said he was deeply saddened by the blow to his restaurant empire, which began with the opening of Fifteen in London in 2002. Oliver, 43, thanked staff and suppliers who had put their hearts and souls into the business as he credited his chains with transforming high street dining. We launched Jamie's Italian in 2008 with the intention of positively disrupting mid-market dining in the UK high street, with great value and much higher quality ingredients, best-in-class animal welfare standards and an amazing team who shared my passion for great food and service. I appreciate how difficult this is for everyone affected, he said. (news.financializer.com). As reported in the news.

moon: The space agency aims to launch 37 rockets to the Moon, according to documents obtained by the Ars Technica media website, according to Nine News Australia. They include details of a planned human lunar landing in 2024 that will include the first woman, and the founding of a Moon base four years later. To improve your experience update it here News WorldNASA plan for Moon base leaked By Richard Wood12 59pm May 21, plans by NASA to send human astronauts to the Moon and build a permanent lunar base have been revealed. An artist impression of the planned Moon base. The blueprint also involves building of a Lunar Gateway, an outpost that would orbit the Moon and become a docking port for lunar missions It would become a half-way house for astronauts and scientific experiments, NASA says. NASA . Supplied The NASA project known as Artemis goes further than sending Americans to the Moon and has the goal of establishing a permanent presence there for scientific research that includes potential water sources. (news.financializer.com). As reported in the news.

street restaurants: The firm said overnight that it had gone into administration, a form of bankruptcy protection, and appointed KPMG to oversee the process, according to Nine News Australia. Oliver, 43, who became a well-known figure in Britain and beyond for his popular TV shows, founded his Jamie's Italian brand of high street restaurants in 2008. To improve your experience update it here News World Celebrity chef Jamie Oliver's restaurant chain collapses By AAP9 03am May 22, chef Jamie Oliver's British restaurant chain has become insolvent, putting 1300 jobs at risk. Celebrity chef Jamie Oliver's British restaurant chain has become insolvent, putting 1300 jobs at risk. I am deeply saddened by this outcome and would like to thank all of the staff and our suppliers who have put their hearts and souls into this business for over a decade, he said in a statement on Tuesday. AP His restaurant group also includes Barbecoa, a steakhouse, and Jamie Oliver's Diner. (news.financializer.com). As reported in the news.

yuan: A move below that threshold, last breached during the 2008 financial crisis, could ripple through markets and further complicate trade talks between Washington and Beijing, according to CNN. Yuan watch Investors are on high alert for China's yuan to fall to the symbolically important level of 7 to the US dollar. (news.financializer.com). As reported in the news.

co: TBM, which raised 1.6 billion and 3.1 billion in its latest two rounds, is looking to secure several billion yen, according to Chief Executive Officer Nobuyoshi Yamasaki, according to The Japan Times. The goal is to establish overseas partnerships before seeking an initial public offering, he added. TBM Co., a startup known for its technology that turns limestone into business cards, plastic folders and food containers, is seeking to raise another round of funding to expand overseas before it prepares for an initial public offering in a couple years. ; Goldman Sachs Group Inc., trading house Itochu Corp. and Toppan Printing Co., Japan's largest printer by sales, have already invested in the manufacturer. Our next round is for overseas expansion, both for production and sales, the CEO said at the company's Tokyo headquarters. As result, TBM is pushing back its planned timing for an IPO by about a year, to 2021, according to Yamasaki. We want to expand aggressively overseas, and to do that we need the funding to hire more people. (news.financializer.com). As reported in the news.

greenpeace protesters: Two activists are inside each container with enough supplies to last at least a week, Greenpeace said, 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. Greenpeace protesters lifted five large containers into place in front of the doors to the oil giant's offices in St James Square at around 3am while other campaigners abseiled down the side of the building to unfurl banners across windows. You can form your own view. Subscribe now Ahead of BP's annual general meeting on Tuesday, Greenpeace is demanding more action on the climate emergency. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

industry: In the latest move, the US government banned US companies from supplying key components, including chipsets, to Chinese telecom company Huawei, prompting renewed calls for speeding up the development of the domestic semiconductor industry, according to Global Times China. A talent shortage is one of the most pressing issues for the development of the semiconductor industry in China, and it's a problem that cannot be solved overnight, said Liu Kun, a veteran analyst in the semiconductor industry in Beijing, told the Global Times on Monday. Chinese analysts on Monday called for more targeted efforts in building a talent pool for the country's semiconductor industry, as US officials continue to tighten their grip on chip exports to China in an apparent bid to contain the nation's technological rise. If we don't take long-term measures to solve the issue, then we will never be self-sufficient. The massive talent shortage is the result of a combination of factors such as China's weak industry chain, high costs and relatively low rewards, according to industry insiders and analysts. There are only 400,000 semiconductor professionals in China, which needs more than 720,000 by 2020, leading to a gap of 320,000 in the talent pool, according to an industry white paper released last year by research firm CCIDC Consulting. (news.financializer.com). As reported in the news.

li daxiao: Despite the negative news, the Shanghai Composite Index closed only 0.41 percent lower, while the Shenzhen Component Index lost 0.93 percent, according to Global Times China. It could have been much worse, if it weren't for the solid economic fundamentals, Li Daxiao, chief economist at Shenzhen-based Yingda Securities, told the Global Times on Monday. Though the news of the case of Liu Shiyu, former chairman of the China Securities Regulatory Commission CSRC came at a sensitive time when investors are skittish over an escalating trade war between China and the US, mainland stocks reacted relatively calm to what could have been a serious blow. Right now, there is just too much negative news for investors. Still, the Chinese economy has shown surprisingly strong resilience so far, growing at a better-than-expected rate of 6.4 percent in first quarter. China is locked in a trade and technology battle with the US, while also battling persistent downward pressure at home. (news.financializer.com). As reported in the news.

lyft lyft: INTL FCStone INTL, 2.28% strategist Vincent Deluard is one of those pundits, and his latest note is a real downer for those betting on a sustained rally Some doubts may have set in recently as President Donald Trump kicked off a fresh trade war with China, with much of that being fought over social media, according to Market Watch. It is not difficult to envision a scenario where this Twitter tantrum turns into a fully-fledged bear market, Deluard wrote in our call of the day, in which he explains that not one, not two, but perhaps three black swans could broadside investors and lead to a drop of more than 20% from recent highs. 1 Private markets get clipped in the wake of disappointing IPOs from Uber UBER, -0.22% and Lyft LYFT, 1.61% as risk appetite dries up among investors. Unpredictability, however, hasn't stopped Wall Street pundits predicting the next one looming over this bull market. Valuations will need to be dropped, Deluard said. Deluard warns that it's not the direct impact of rising prices, rather what they could do to the Fed's ability to tweak monetary policy the way it wants. Skeletons may come out of the closet of many a once-highly valued tech unicorn. 2 Venezuela or Iran could deliver a shock in global oil prices that ripples across markets. (news.financializer.com). As reported in the news.

profits warnings: Ryanair profits slide due to lower fares and Brexit uncertainty Read more Wind back the clock 12 months to get a sense of how much altitude Ryanair has lost, according to The Independent. A year ago, O'Leary predicted 1.25bn to 1.35bn for the financial period that ended this March, calling his estimate on the pessimistic side of cautious . It turned out he was being heroically optimistic, which is why Ryanair's share price has since fallen by a third. The past year still included two profits warnings, let's not forget. Competitors' share prices have fallen similarly and a few smaller rivals have gone to the wall, it should be said. It is also true, as O'Leary never fails to mention, that Ryanair's balance sheet is one of the strongest in the business. Lower average fares Ryanair's were down by 6% to 37 are affecting everyone. (news.financializer.com). As reported in the news.

schwab fidelity: Of course, there was a business reason, according to The Independent. With larger processing volumes, trading became more efficient and the firms could keep unit costs low and generate profits to fund technology and other strategic investments. Large direct-to-consumer behemoths like TD Ameritrade, Schwab and Fidelity were willing to power channels that essentially competed with them for retail clients. In return, advisory firms got efficient support and access to platforms that included custody, clearing, bundled service options and outsourced technology. It was certainly a win-win, but with a hidden cost. Even the firms that offer an alternative to traditional clearing providers, like mine, have benefited from the arrangement. (news.financializer.com). As reported in the news.

bitcoin: What's going on Bullish experts say the strong showing could signal that bitcoin has a future as a worthy investment opportunity, according to CNN. But the currency's volatile and controversial history has prompted plenty of skepticism. It tapered off slightly by mid-afternoon, but is still trading at its highest level in nearly a year. Bitcoin has typically been regarded as risky, said Dan Held, co-founder of Interchange, a company that advises businesses on how to manage their crypto assets. After all, the currency skyrocketed in value Monday when the Dow plunged 617 points, perhaps suggesting that investors turned to bitcoin as a safe haven asset. But he said the currency's resurgence might be the first inkling that it holds weight as a risk off trade an investment treated as a safer bet when markets are tumultuous, like bonds or gold. (news.financializer.com). As reported in the news.

democracy democracy: Mueller's report is a warning and Britain won't listen Carole Cadwalladr Read more Nigel Farage says this election is about democracy, according to The Guardian. Democracy is fatally undermined if unexplained, unreported and thus undeclared and perhaps under the counter and underhand campaign finance from whom and from where we do not know is being used to influence the very elections that are at the heart of our democratic system, he will say, according to pre-released extracts. Before Thursday's crucial European elections, Gordon Brown has written to the Electoral Commission calling on it to urgently examine whether the party has sufficient safeguards on its website to prevent the contribution of dirty money . The former Labour prime minister will use a speech in Glasgow on Monday to say an investigation into the Brexit party's finances is urgent and essential. Now Mr Farage heads a new Brexit party, which is making questionable claims about the true source of its funding at a time when the Electoral Commission has warned of the dangers of multiple, small, anonymous donations being a cover for dirty money. Richard Tice, the Brexit party's chair and co-founder, said on Monday he did not know whether the Pay Pal account allowed the party to receive smaller donations in foreign currencies. While other parties require personal information from donors, the Brexit party allows donations of less than 500 via a Pay Pal account, which critics said leaves the way open to abuse by foreign donors wishing to influence British elections. (news.financializer.com). As reported in the news.

morehouse: Here's what you need to know about the 56-year-old billionaire investor, according to CNN. How he made his billions Smith is the richest black person in the United States, with a net worth of 5 billion, according to Forbes. The exact amount to be covered for the 396 students is still being calculated, Morehouse President David A. Thomas told CNN on Monday, but the figure will likely be in the tens of millions of dollars. Yes, he's richer than Oprah. In 2019, Smith was 355 on the Forbes Billionaires List. Read More He's the founder of the investment firm Vista Equity, which boasts capital commitments of 46 billion, according to its website. (news.financializer.com). As reported in the news.

morrison government: Coal industry urges re-elected Morrison government to build new coal plants Read more Environmental groups that campaigned against the government including the Wilderness Society and the Australian Conservation Foundation were underwhelmed with the results but insist with the election of climate-conscious independents and a worsening climate crisis the problem is not going away for the Coalition, according to The Guardian. Sinodinos, the former industry minister and cabinet secretary, told Sky News the inner-city swings against the government were due to very intense competition between ourselves, Labor and the Greens . There's no doubt that climate change issues probably played a factor in some of those seats, he said. Anticipating a fresh internal battle over energy policy after the Liberal-National party's success in Queensland, the Liberal senator suggested the government should recast itself as the best manager of the grid and take advantage of the falling cost of renewables to ensure greater reliability, lower cost and lower greenhouse gas footprint . Despite the Coalition returning with a narrow majority in the 46th parliament, former prime minister Tony Abbott lost the blue-ribbon seat of Warringah and there were swings against the Liberal party in inner-city Melbourne and Sydney seats. But my point is I think with the energy transition under way there is an opportunity for us to reclaim more ground in that environmental space and not make it seem like it's a binary choice between looking after the environment and the economy . Sinodinos argued the transition is already under way with record investment in renewables leaving the government the challenge of making sure the electricity generation system can accommodate that while maintaining reliability . Sinodinos said the government should do more to be seen to be managing that transition because I think we can have a good story to tell on that and it's a terrific way to reduce our greenhouse gas footprint . Government should not stand in the way of renewables because the cost is falling, but at the same time we need to make sure we have backup and storage he said. This is about how you take advantage of it as an opportunity, not just see it as a cost. This is a transition which is underway, there's no turning back. (news.financializer.com). As reported in the news.

shanghai equities: It gained 187.11 points Friday, according to The Japan Times. The Topix, which covers all first-section issues on the Tokyo Stock Exchange, closed 0.67 point, or 0.04 percent, higher at 1,554.92 after gaining 16.70 points Friday. But the market's topside was capped partly because players became increasingly doubtful about the strength of the economy. ; The Nikkei 225 average rose 51.64 points, or 0.24 percent, to end at 21,301.73. The Nikkei got off to a strong start and soon gained nearly 180 points, aided by a weak yen and better than expected preliminary gross domestic product data for January-March, brokers said. The Nikkei failed to expand its gains, due partly to a drop in Shanghai equities, though it remained in positive territory throughout the day. Just before the opening bell, the Cabinet Office said Japan's seasonally adjusted GDP grew a real 2.1 percent from the previous quarter at an annual rate, against the consensus estimate among market players of a 0.2 percent fall. (news.financializer.com). As reported in the news.

time horizons: With strong demand for new issues and valuations that are generally rich, the risk of overpaying for a stock with less-than-impressive fundamentals is high, according to Market Watch. In addition, history shows that companies typically underperform the market for many years after going public. While there are attractive opportunities out there for savvy investors, our advice is to approach the IPO market with caution. So, investors who are attracted to this sudden frenzy of IPO activity should keep this in mind when thinking about their time horizons. Behind the resurgence in companies going public We see three main catalysts for this recent surge in IPOs First, IPO activity tends to accelerate when stakeholders believe the market cycle is approaching a peak because private companies and venture capital investors see an opportunity to capitalize on high valuations and cash out of their investments. You may have to remain patient if you expect to earn an attractive return on your investment. (news.financializer.com). As reported in the news.

trading monday: Shares of STMicroelectronics NV were also hit. ; The share-price falls follow U.S. corporations freezing the supply of critical software and components to China's largest technology company, in order to comply with White House orders, according to The Japan Times. Chipmakers including Intel Corp., Qualcomm Inc., Xilinx Inc. and Broadcom Inc. have told their employees they will not supply Huawei till further notice, according to people familiar with their actions. Germany's Infineon Technologies AG fell in early trading Monday after the Nikkei daily reported it halted shipments to the Chinese company in the wake of the U.S. ban. Alphabet Inc.'s Google cut off the supply of hardware and some software services to the Chinese giant, another person familiar said, asking not to be identified discussing private matters. The Trump administration on Friday blacklisted Huawei which it accuses of aiding Beijing in espionage and threatened to cut it off from the U.S. software and semiconductors it needs to make its products. The moves, which had been anticipated, hamstring the world's largest provider of networking gear and No. 2 smartphone vendor. (news.financializer.com). As reported in the news.

uniform decline: How did major benchmarks fare The Dow Jones Industrial Average DJIA, 0.77% fell 84.10 points, or 0.3%, to 25,679.90, the S&P 500 index SPX, 0.85% declined 19.30 points, or 0.7%, to 2,840.23, while the Nasdaq Composite Index COMP, 1.08% dropped 113.91 points, or 1.5%, to 7,702.38, according to Market Watch. What drove the market Sino-U.S. trade tensions continued to escalate, with shares of chip makers taking it on the chin as U.S. technology companies have begun to comply with the White House's ban on China's Huawei Technologies Inc. A uniform decline in blue-chip tech names such as Apple Inc., Intel Corp. and Cisco Systems Inc. highlighted the vulnerability of some of the market's most valuable companies to the adverse impact of the prolonged trade fight. Bloomberg News reported Sunday that Xilinx XLNX, 4.63%XLNX, 4.63% and other U.S. chip makers, including Intel INTC, 2.07% Qualcomm Corp. AVGO, 1.01% have frozen the supply of critical software and hardware components to Huawei. QCOM, 1.47% and Broadcom Inc. (news.financializer.com). As reported in the news.

war chest: It also means investors' bellies will remain empty for the foreseeable future, according to Global Times China. London-based Deliveroo, whose panting cyclists have become a fixture in the British capital's affluent neighborhoods, on Friday announced it had raised 575 million from investors led by the 940 billion web giant. Amazon's investment in loss-making Deliveroo, which operates in 500 European and Asian cities, defers the answer. American Will Shu, who founded the company after finding a dearth of quality delivery options while working as a banker in Canary Wharf, has so far raised 1.5 billion. The companies charge restaurants and diners a fee for each delivery, which helps pay for drivers. The fundraising replenishes Shu's war chest for his ongoing assault on rival Uber Eats, part of the ride-hailing group. (news.financializer.com). As reported in the news.