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

andrea leadsom: May said she was sorry Leadsom had quit, while rejecting her reasons for doing so, according to The Japan Times. The premier's office said she would stay focused on delivering Brexit. ; Leadsom and other ministers spent much of Wednesday in private talks plotting to kill May's last-gasp plan to use a possible second referendum to get her divorce agreement through Parliament. Andrea Leadsom resigned late on Wednesday, saying she no longer believed the government's approach will honor the result of the 2016 referendum. As the pro-Brexit faction within May's Cabinet discussed how to coordinate their revolt, the most senior rank-and-file members of her Conservative Party held a crisis meeting to weigh up whether to throw her out. Both the Times and Daily Mail reported May is expected to announce the timetable for her departure on Friday, though one of the premier's aides rejected that idea, according to the BBC. Wednesday was a day when May's authority appeared visibly to drain away. The pound fell as investors braced for the prospect that a pro-Brexit hard-liner will succeed May, and could rip Britain out of the European Union with no deal to cushion the blow. (news.financializer.com). As reported in the news.

brian belski: We would continue to tell clients not to invest in their portfolio with respect to trade fears, rhetoric and innuendo, and instead stick to your process and discipline, Belski said in a recorded presentation to clients Wednesday, according to Market Watch. And if the market gives you an opportunity to buy those stocks that your process and discipline tell you to own longer term, you should be buying more of those. But according to Brian Belski, chief investment strategist at BMO Capital Markets, the nearly 5% decline in the S&P 500 SPX, 0.14% in May has largely been an overreaction, as the evidence so far says that the U.S.-China trade spat has had little effect on the bottom lines of U.S. multinational companies. Belski points out that while the 25 S&P 500 companies with the largest share of sales to China have been punished this month by investors, the recent news hasn't caused analysts of those companies to lower their profit outlooks, or to significantly lower their price targets. Revenue and earnings estimates have not changed at all, Belski added. BMO Capital Markets Caption outside of wrapper for normal article images Analysts have cumulatively cut their price targets for the 25 companies with the largest revenue exposure to China by just 0.5% so far this month, in contrast to the 9.5% decline in the prices of those stocks. (news.financializer.com). As reported in the news.

gr ie: Big game hunting has been banned in Botswana since 2014 but some lawmakers say the rising elephant population has caused problems for small-scale farmers and rural villages, 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 southern African nation is home to almost a third of the continent's elephant population. You can form your own view. Subscribe now The initial ban was imposed by Ian Khama, Botswana's former president, after surveys showed a declining wildlife population. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

broker blog: Tepper's Appaloosa Management L.P. has earned an average annual return of 25% since its inception in 1993, according to CNBC. The fund regularly features among the ranks of all-time top performers, making the 61-year-old Tepper, a former Goldman Sachs banker, one of the world's most influential market-moving investors, according to Market Watch. In 2014, Josh Brown, in his Reformed Broker blog, declared the apotheosis of David Tepper complete, noting he was younger than industry stalwarts George Soros and Leon Cooperman, less cantankerous than Dan Loeb and Carl Icahn, able to claim higher returns than David Einhorn and Bill Ackman, and carried none of the regulatory taint of Steve Cohen. That would make him the latest in a string of high-profile, hedge-fund managers to go that route. Archive The rise of David Tepper The Wall Street Journal, citing people familiar with the matter, reported that Tepper plans to turn the firm into a family office managing his personal wealth as he spends more time focused on running the Carolina Panthers football team, which he purchased last year. News reports said Tepper's money already makes up around 70% of the firm's roughly 13 billion in assets under management. An Appaloosa spokesman told the newspaper that the firm hasn't set a timetable for the return of all outside money. (news.financializer.com). As reported in the news.

cooperation: China's Vice Minister of Commerce Qian Keming, said the meeting will cement China-Botswana long-lasting relations, according to Global Times China. We are willing to actively and steadily enhance the mutually-beneficial and friendly cooperation between the two countries in the coming period so as to bring more tangible benefits to the two peoples, Qian said. Senior officials and diplomats of Botswana and China attended the first session of the Joint Committee on Economy, Trade, Investment and Technical Cooperation in the capital city of Botswana. Nonofo Molefhi, Botswana's Acting Minister of International Affairs and Cooperation, said his country regards China as a strategic partner in development and hopes to see China's enhanced participation in Botswana's economic diversification. Botswana is open to investment to boost productive capacity and facilitate the transfer of much needed skills and technologies, Molefhi said, adding that Botswana will utilize platforms such as the First China-Africa Economic and Trade Expo next month to showcase products and attract investments. (news.financializer.com). As reported in the news.

gig economy: Contained within is specific mention of the firm's contractor model, according to The Independent. Both companies rightly acknowledge that the contractor model, as well as potential regulatory changes to it, could be a concern for the longevity of their business. Authors Robert Maxim Senior Research Analyst - Metropolitan Policy Program robmaxim Mark Muro Senior Fellow and Policy Director - Metropolitan Policy Program markmuro1 Part of that may well have to do with the many shaky aspects of their business model, which Uber's own S-1 filing with the U.S. Securities and Exchange Commission details over nearly 50 pages. All of which again raises the question of whether the contractor model a core element of the gig economy in U.S. cities is really such a viable way forward. For many drivers, it has created a flexible source of part-time work with relatively few barriers to entry. Without a doubt, the contractor model has created great value for both workers and consumers alike. (news.financializer.com). As reported in the news.

jobs market: Together we will build a strong and inclusive India, Modi said on Twitter on Thursday, according to The Japan Times. India wins yet again! Modi's victory boosted financial markets as investors expect his government will continue to pursue economic reforms. Official data from India's Election Commission showed Modi's Hindu-nationalist Bharatiya Janata Party ahead in 298 of the 542 seats available, up from the 282 it won in 2014 and more than the 272 seats needed for a majority in the lower house of Parliament. ; That would give it the first back-to-back majority for a single party since 1984. He will be under pressure to create employment for the tens of millions of young people coming on to the jobs market in the next few years and to boost depressed farm incomes. But making good on his promise to unite the country will be difficult as the BJP campaign was often divisive, prompting the minority Muslim community to express fears that they were being treated as second-class citizens. The immediate challenges are to address employment, the issue of agricultural income and revive the banking sector, said Madan Sabnavis, chief economist at Care Ratings in Mumbai. (news.financializer.com). As reported in the news.

decision: Some key caveats, from no decision about a deployment has been made just yet, and all the troops might not be needed at once, according to Asahi Shimbun. Why now AP writes the move is not in response to any new threat from Iran but is aimed at reinforcing security in the region. If President Trump wants to put another 10,000 troops in the Middle East, the Pentagon on Thursday is expected to tell the White House how it can do it, CNNreported Wednesday and the Associated Press added a bit more this morning. Where the request came from U.S. Central Command, a defense official told CNN, which first requested the USS Lincoln be expedited to the region three weeks ago. Frank McKenzie, 42 days after taking command, visited the Iran-watchers of the Federation for the Defense of Democracies on May 8 to trumpet the White House's renewed anti-Iran rhetoric. And recall that CENTCOM's new chief, Gen. (news.financializer.com). As reported in the news.

demand predictions: Oil coursed downward with other global markets as concerns grew that the China-US trade conflict was fast turning into a technology cold war between the world's two largest economies, according to Nine News Australia. While the trade war is the main cloud over economic growth and demand predictions, market participants also pointed to weakening US data and overfull US crude stockpiles. To improve your experience update it here News World Oil plunges as US-China trade war raises fuel demand worries By AAP8 00am May 24, 2019Facebook Tweet Mail Oil prices plunged overnight, losing about fiver per cent as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months. Supplied Again, we're seeing the effect of worries about the trade issue on demand, said Gene McGillian, vice president at Tradition Energy in Stamford, Connecticut. Brent crude futures, the international benchmark, settled down US3.23, or 4.6 per cent, at US67.76 a barrel. Funds and money managers who had built up long positions are heading to the exits as trade concerns dim the demand outlook, he said. (news.financializer.com). As reported in the news.

cornel west: Cornel West to come on and have a debate with Blexit Movement Founder Candace Owens about President Trump's record with African to Real Clear Politics, Thursday night, Owens, who recently came under fire for claiming the real problem with Adolf Hitler were his visions of globalism, argued the case that Trump has actually benefited the African American community, despite being accused of racism himself, according to MSNBC. Race War or Publicity Stunt KKK plans rally in Ohio, but don't let the optics fool you Unsurprisingly, West disagreed with these sorts of claims although he did concede that Trump's economic numbers were better than some would have expected. But could not be convinced that the president was anything less than brilliant ByBlue Telusma-May 23, In an unlikely pairing that no one saw coming, this week, Laura Ingraham's Fox News show invited Harvard philosophy professor Dr. The statistics certainly look good through a narrow lens, he said, while still pointing out the grotesque wealth problem is though, my dear sister, the president has a language that creates an atmosphere that is so xenophobic, against Black folk, Mexicans, Muslims, West continued, adding, He rarely wants to stay in contact with their humanity. However, she did not point out that despite the decrease in unemployment, for Blacks, it is still 86 percent higher than the national average. Owens cited low unemployment numbers for Blacks in America at 6.7 percent as an example of how Trump has benefited the community. (news.financializer.com). As reported in the news.

meyohas: Greybull was set up in 2010 by Marc and Nathaniel Meyohas, the sons of a French corporate lawyer, and Richard Perlhagen, the son of Swedish pharmaceuticals tycoon Lennart Perlhagen, according to The Guardian. Marc Meyohas has said Greybull was a response to the financial crisis, when traditional banks withdrew lending. It styles itself as a valiant rescuer of distressed businesses but has amassed a questionable roster of firms that it bought for a song only to walk away relatively unscathed after they eventually collapsed. As the banks pulled back, he spotted an opportunity to charge higher fees to firms who still needed to borrow. Who are the villains of the British Steel crisis Nils Pratley Read more But in the past few years it has saved precious few of its acquisitions. Operating from an office near Harrods in London's salubrious Knightsbridge area, Greybull claims that it is passionate about making companies successful buying distressed firms and turning them around. (news.financializer.com). As reported in the news.

qatar khelaifi: The official said Khelaifi was suspected of corruption in regards with Qatar's track and field worlds . Khelaifi is from Qatar, according to The Guardian. Khelaifi's lawyer was not immediately available for comment and beIN declined to comment except to say the case doesn't relate in any way to the company . Questions for IAAF president's son over 5m request to Doha amid 2017 bid Read more BeIN's chief executive, Yousef al-Obaidly, faces preliminary charges of corruption, and the former IAAF president Lamine Diack is suspected of passive corruption in the same case. A French judicial official said the preliminary charge of active corruption was filed against Khelaifi, also the chair of the beIN media group, in mid-May in a case focusing on the payment of 3.5m to an IAAF official. According to Obaidly's lawyer, the investigating magistrate Renaud Van Ruymbeke based his suspicion on documents showing that a former IAAF official received two payments totalling about 3.5m from Qatari investors before the vote for the 2017 World Championships. The championships will be held in Doha from 27 September to 6 October. Qatar eventually lost to London but was later awarded the 2019 event. (news.financializer.com). As reported in the news.

linen two-pieces: The soft, breathable, centuries-old fabric was once reserved for home furnishings and bed sheets, according to The Independent. But by the 1990s, it had become a summer holiday staple, with poolside chillers proudly donning their boyfriend-style shirts over swimwear while trendy teens left theirs unbuttoned and tied them in knots on their midriffs, Talented Mr Ripley style. No trend has been through this wringer quite like linen the fabric that is sometimes cool, but always cooling. But the style was soon co-opted by elderly holidaymakers, who proudly donned their linen two-pieces usually shirts and loose-fitting trousers on balmy package holidays, purely because it kept them cool in the literal sense. 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.

management group: But before it could feel comfortable unveiling those plans, Toyota put in months of work to pledge fresh investment in the US. The technology transfers represent gestures of goodwill to Beijing by the Japanese automaker, which wants to step on the accelerator in China as CEO Akio Toyoda told an internal management group, according to minutes of meetings on March 19 and April 23 viewed by Reuters, according to Global Times China. Announcing US investment first was a strategy Toyoda felt the company needed to pursue to avoid US President Donald Trump's wrath, the minutes showed, providing a rare window into how it has sought to tread carefully as the US and China battle for investment, jobs and influence in the global economy. The automaker said it would establish a green-technology research institute with China's Tsinghua University and provide state-owned BAIC Group's Foton unit with fuel-cell technology for buses. For Toyota to operate globally, we need to strike a fine balance between China and the US, the March 19 minutes quoted Toyoda as saying. According to the April 23 minutes, the Japanese automaker is making what one unidentified senior executive described as a significant move to steer its focus to China, a market where it is far behind industry leaders Volkswagen AG and General Motors Co. It's imperative to avoid making enemies. (news.financializer.com). As reported in the news.

points briefly: On Wednesday, the bellwether index rose 10.92 points. ; The Topix index of all first-section issues finished down 5.63 points, or 0.36 percent, at 1,540.58, after losing 4.09 points the previous day, according to The Japan Times. It dropped for the third straight day. The 225-issue Nikkei average fell 132.23 points, or 0.62 percent, to end at 21,151.14. After getting off to a weaker start, the Nikkei lost over 200 points briefly in the morning, with the market falling prey to bouts of selling unleashed by the yen's firming, as well as by an overnight drop in U.S. stocks reflecting investor concerns that the U.S.-China trade dispute may drag on, brokers said. The market showed some resilience in the afternoon on the back of buybacks, but was unable to wipe out its earlier loss, with both the Nikkei and the Topix staying in negative territory throughout the day. The trade concerns were fueled by a media report that the U.S. government is considering trade restrictions on more Chinese companies, including major surveillance equipment-maker Hangzhou Hikvision Digital Technology, on top of telecommunications equipment-maker Huawei Technologies, they said. (news.financializer.com). As reported in the news.

trade war: The reason is that the underlying technology is American technology, according to Market Watch. I will explain later in this column about the next shoe to drop in this trade war. Companies in Europe and Japan are beginning to halt some shipments to Huawei. Above all, investors ought to look at protecting their portfolios. Chart Please click here for an annotated chart of Nasdaq 100 ETF QQQ, -0.05% Similar conclusions can be drawn from the charts of the Dow Jones Industrial Average DJIA, 0.37% and S&P 500 ETF SPY, 0.23% Please note the following As the chart shows, the support zone is nearby. Let's explore with the help of a chart. (news.financializer.com). As reported in the news.

abe: It's rare for leaders of Japan and the US to meet for three consecutive months, according to Global Times China. Why are they meeting so frequently After Trump won the presidential election, Abe was the first foreign leader to meet with Trump. Japanese Prime Minister Shinzo Abe just visited the US in late April and Trump is scheduled to attend the G20 summit held in Osaka, a Japanese city, in June. Since May 1, Japan has entered into the Reiwa era. Trump and Abe do have several issues to discuss. Trump will be the first state leader to visit Japan after Emperor Naruhito's accession to the throne, which shows the importance of Tokyo-Washington alliance. (news.financializer.com). As reported in the news.

savings bank: And when Manafort defaulted on the loans, the bank of which Calk is chief executive officer, the Chicago-based Federal Savings Bank, incurred a multi-million-dollar loss, according to CNN. Manafort isn't named in the indictment, but he matches the description of the borrower described in court papers, whom prosecutors describe as having been the chairman of a presidential campaign between June and August of 2016, and his dealings with Calk arose last summer at Manafort's trial in Virginia. The banker, Stephen Calk, never got any of the positions he sought in the Trump administration, including secretary of defense, secretary of the army and secretary of the treasury, according to the indictment, although as a result of Manafort's influence, Calk was interviewed for a senior role. Calk is charged with one count of financial institution bribery. Calk pleaded not guilty and was released on a 5 million personal recognizance bond on Thursday afternoon. Calk was arrested Thursday morning in Manhattan, where he was allowed to surrender, Assistant US Attorney Paul Monteleoni said in court. (news.financializer.com). As reported in the news.

inc: Verity Asset Management Inc who had been investing in Pfizer Inc for a number of months, seems to be bullish on the 233.12B market cap company, according to MSNBC. The stock increased 0.77% or 0.32 during the last trading session, reaching 41.99. The institutional investor held 42,943 shares of the health care company at the end of 2018Q4, valued at 1.87M, up from 18,309 at the end of the previous reported quarter. About 22.89 million shares traded. PFE has risen 20.88% since May 23, 2018 and is uptrending. Pfizer Inc. (news.financializer.com). As reported in the news.

trump: I would if we need them, Trump said of a new troop deployment, according to CNN. I don't think we're going to need them. Shanahan also said he would brief President Donald Trump Thursday on the security situation with Iran, while the President told reporters he would be willing to send extra troops to the region if we need them. I really don't. ... I would certainly send troops if we need them, Trump said in remarks at the White House Thursday. Shanahan told reporters at the Pentagon Thursday that the enhanced protection for troops may involve sending additional troops, and added that some media reports about the numbers that could be sent are inaccurate. Iran has been a very dangerous player, a very bad player, they're a nation of terror and we won't put up with it. (news.financializer.com). As reported in the news.

trump: Rejecting Pelosi's characterisation of his decision to scrap a meeting on Wednesday with Democrats because of their continued investigations as a temper tantrum, Trump accused Democratic officials of being bad people, according to Nine News Australia. Mr Trump referred to Pelosi as crazy Nancy and enlisted several White House officials to publicly corroborate his account that he had addressed Democrats calmly -- and not in anger -- the previous day. To improve your experience update it here News World Trump denies 'temper tantrum' in angry public episode By CNN8 19am May 24, Donald Trump has ratcheted up his feud with House Speaker Nancy Pelosi by turning an event organised to announce a multibillion-dollar aid package to farmers into a nearly half-hour-long diatribe against his Democratic rivals. They're a do-nothing group of people. They're obstructing this country, Trump said. The Democrats have done nothing other than to obstruct. (news.financializer.com). As reported in the news.

years: He is struggling to compete against fast-growing online specialists such as Boohoo and Asos as well as cheaper rival Primark, according to The Guardian. Three years ago, Arcadia was making nearly 200m in underlying profits. The former king of the high street, who employs 18,000 workers, is battling for survival after a collapse in sales and profits at his fashion chains, which includes Topshop, Burton, Dorothy Perkins, Miss Selfridge, Wallis, Evans and Outfit. Sales at established stores are down 9% this year. But documents seen by the Guardian show the scale of the financial hit to landlords if they accept a cost-cutting plan designed to prevent the fashion retail group collapsing into administration. Green has promised his turnaround plan, backed by just 50m of new investment, will reverse the slump and generate profits of 80m by 2020. (news.financializer.com). As reported in the news.

consultants llc: Cohen, who at the time was the president's personal lawyer and a close aide and confidant, quickly cut deals to act as a highly paid consultant to several foreign and domestic companies with business interests linked to federal government decisions, according to The Japan Times. Investigators said in the warrant applications that a corporate entity Cohen had created, Essential Consultants LLC, had received multiple deposits from foreign businesses and entities, including from companies they said had significant ties to foreign governments or are entities controlled by foreign governments. The five search warrant applications, made in the early weeks and months of special counsel Robert Mueller's Russia investigation in 2017, were made public in response to requests from The Associated Press and other media organizations. ; Ultimately, Cohen was not charged by Mueller or by prosecutors in New York with anything related to Russian collusion or illegal influence peddling, but the documents shed further light on how he capitalized financially on his closeness to the president immediately following the 2016 election. Essential Consultants received funds from U.S. and foreign corporations who appear to have approached Cohen in connection with political objectives in the Trump administration, investigators wrote. In an application to search his Trump Organization email account, prosecutors said Cohen exchanged over 230 phone calls and 950 text messages with the CEO of Columbus Nova between Nov. 8, 2016, and July 14, 2017. Investigators were especially curious about deposits of more than 416,000 from an account linked to an investment management firm, Columbus Nova, LLC. The warrants link that firm, and the holding company that controls it, to Viktor Vekselberg, a Russian oligarch with ties to Russian President Vladimir Putin. (news.financializer.com). As reported in the news.

e street: On the roster Meltdown Trump fumes, Pelosi snipes after meeting - Time Out Tarantino's ninth movie - Poll Biden is the only Dem with positive score - Trump approval doesn't improve with economy - Clean up on E Street TRUMP FUMES, PELOSI SNIPES AFTER MEETING Fox News President Trump on Wednesday demanded Democrats end what he called their phony investigations' before he'll negotiate with them on issues like infrastructure, as he delivered a fiery statement from the Rose Garden after a meeting with House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer was cut short, according to The Independent. The president had met for mere minutes with the two Democratic leaders in a session scheduled to discuss a possible bipartisan infrastructure package. Want FOX News Halftime Report in your inbox every day Sign up here. But moments before that sit-down, Pelosi had accused Trump of having engaged in a cover-up' regarding the Russia probe. The president said he wanted to pursue an infrastructure proposal, but instead of walking in happily into a meeting, I walk in to look at people that have just said that I was doing a cover-up.' One source told Fox News Trump walked into the Cabinet Room and immediately made his comments to the Democrats in the room. Trump suggested the comments, and the numerous investigations into him, prevented them from negotiating. (news.financializer.com). As reported in the news.

future development: Dr, according to Global Times China. Arnab Banerji, board member of the Qatar Financial Center Authority, told the Global Times that he has great faith that China will continue to grow and be a success. Photo Xie Wenting/GT While US President Donald Trump threatened that China would lose a lot if the trade deal is not reached, foreign economists expressed great optimism in China's future development to the Global Times. What China has done in the last 40 years is one of the greatest achievements in history. My belief is that China has demonstrated that it knows the right economic policies, he stressed. The current dispute with the US is a temporary stumble, and there is no reason that China could not sustain growth, he said. (news.financializer.com). As reported in the news.

investment life: You don't have to relocate to Alabama, Georgia or Ohio to get your investment life in line with your personal faith, however, according to Market Watch. Believe it or not, there's a fund for that. Some have been floored that a holy mantra could impact laws and the penal code, while others have cheered the developments as a sign of a new spiritual alignment. Whether this segment of the Responsible Investment universe, generally referred to as Socially Responsible Investing or SRI, can beat the market is another matter. The 250 million Global X S&P 500 Catholic Values ETF CATH, -1.48% tracks the S&P 500 SPX, -1.19% with a faith-based overlay dictated by the Conference of Catholic Bishops, who have determined that Catholics should never invest in businesses engaged in abortion, contraception, embryonic stem cell research, racial and gender discrimination, pornography, arms production or other morally wrong business activities. Catholic-focused funds There are a variety of Catholic-values funds available for individual investors. (news.financializer.com). As reported in the news.