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

igel farage: Outgoing prime minister Theresa May has admitted to a very disappointing result as both the Conservative and Labour parties were punished by voters for their dithering, according to Nine News Australia. WHY THE CENTRIST PARTIES CRUMBLEDNigel Farage gives the thumbs-up as he arrives for his party's victory celebrations. To improve your experience update it here News World Nigel Farage Only I can deliver on Brexit, says party leader who romped to Euro election victory By AAP8 17am May 28, 2019Facebook Tweet Mail The pro-Brexit party has swept to victory in the European elections in the UK, winning in nine out of 11 regions. AAP And Brexit Party leader Nigel Farage claimed that that internal squabbles of the Conservative Party, which has now to choose a new prime minister - would prevent the UK from leaving Europe by the October 31 deadline. The Brexit Party, which was launched just six weeks ago by Farage, the former UKIP leader, won 31 per cent of the vote and will have 29 seats in the European Parliament which it does not want Britain to be a part of. He claimed that he was the only politician who truly could deliver on Brexit and that if nothing was achieved by the time of the next general election, he would win that too. (news.financializer.com). As reported in the news.

african continent: The Chinese contingent took their seats to the far right of the podium where US Rear Admiral Heidi Berg formally launched the US-led military exercise, Cutlass Express, according to Nine News Australia. Cutlass, and the handful of other annual US-led drills held throughout the African continent, are a low-risk and relatively low-cost way for US Africa Command AFRICOM to gain and keep regional allies. To improve your experience update it here News NationalUS, China vie for influence in Africa By CNN2 33pm May 27, 2019Facebook Tweet MailA dirt track at Djibouti's Doraleh Port leads to a series of unassuming single-story buildings that, earlier this year, hosted the world's two superpowers. But in Djibouti - a tiny nation of just 884,000 people that is a key Red Sea ally of the US - and throughout Africa, there's new competition for local loyalties from China's military, which is increasingly asserting its influence on the continent. AP/AAP In 2017, China's People Liberation Army PLA opened its first overseas base in Djibouti. US soldiers at Camp Lemonnier in Djibouti. (news.financializer.com). As reported in the news.

company: Trb Advisors Lp who had been investing in Apple Inc for a number of months, seems to be less bullish one the 823.46B market cap company, according to MSNBC. The stock decreased 0.38% or 0.69 during the last trading session, reaching 178.97. The institutional investor held 50,000 shares of the computer manufacturing company at the end of 2018Q4, valued at 7.89 million, down from 463,000 at the end of the previous reported quarter. About 23.71 million shares traded. AAPL has risen 0.49% since May 27, 2018 and is uptrending. Apple Inc. (news.financializer.com). As reported in the news.

company: Hightower Advisors Llc who had been investing in Illinois Tool Wks Inc for a number of months, seems to be bullish on the 47.47B market cap company, according to MSNBC. The stock decreased 0.39% or 0.57 during the last trading session, reaching 145.72. The institutional investor held 81,530 shares of the industrial machinery and components company at the end of 2018Q4, valued at 10.33 million, up from 8,000 at the end of the previous reported quarter. About 1.04M shares traded. ITW has declined 8.90% since May 27, 2018 and is downtrending. Illinois Tool Works Inc. (news.financializer.com). As reported in the news.

mirage: Instead, at least for the next three years, we will ignore the emergency while chasing the mirage of coalmines promising to create thousands of jobs, according to The Guardian. That mirage began to fade almost immediately with the announcement that the China Stone project, right next to Adani's Carmichael mine project in the Galilee Basin, had suspended its bid for mining leases. Perhaps, with a different electoral outcome, Australia would have followed suit. Other projects in the basin have been on hold for years. Gautam Adani could afford to spend this much if he chose to do so, but has so far shown no sign of willingness to pour such a large proportion of his personal wealth into an obvious dud. Galilee Basin mine next to Adani put on hold amid doubts over future of thermal coal Read more The prospects for the Carmichael mine are not much better, at least in the absence of a large injection of public money which may now be on the cards . Adani announced in November that it would provide 2bn of its own money to fund the project. (news.financializer.com). As reported in the news.

renault: Falling sales in the world's biggest markets China, the U.S. and Europe have brought fresh urgency to consolidate, according to The Japan Times. Fiat and Renault expect their joint synergies to amount to more than 5 billion 5.6 billion coming from areas such as purchasing power. In a separate statement, the French carmaker said its board would meet later in the morning to discuss the proposal. ; The talks come as automakers worldwide face intense pressure to spend heavily on new technologies and adapt to trends such as car-sharing. Together, Renault and Fiat had a combined market value of 32.6 billion 36.5 billion as of Friday. Both Fiat and Renault went through dramatic changes at the top last year after former Fiat chief Sergio Marchionne died and Carlos Ghosn, who was chairman of the Franco-Japanese alliance, was arrested in Tokyo in November over alleged financial misdeeds. Fiat and Renault have moved ahead without the French carmaker's 20-year partner, Nissan Motor Co., and Mitsubishi Motors Corp., the other member of their three-way alliance. (news.financializer.com). As reported in the news.

robbins: The last quarter before I took over was a record for revenue, but I said we were going to change everything, Robbins told Market Watch in a one-hour, one-on-one interview at the company's San Jose, Calif., headquarters this month, according to Market Watch. The fear was if you change seven things at once and something breaks, the question is, What did we break The unassuming Robbins essentially reshaped a multibillion-dollar legacy company, top to bottom, from one built almost entirely on selling hardware for networking to one focused on hybrid cloud and recurring software subscriptions. Chuck Robbins minces no words in describing how he took the baton from Silicon Valley legend John Chambers and began to radically remake Cisco Systems Inc. The tricky transformation is the stuff that Harvard Business School case studies are made of in this case, an August 2016 paper that deemed the corporate handoff a smooth transition. During the transition, Robbins had to dip into a well of salesmanship to convince longtime customers to change along with Cisco. Cisco's CSCO, -0.81% metamorphosis was not entirely smooth, though It required a change in operations, products and personnel that took more than a year and led to layoffs, wholesale executive changes and some rough quarters. (news.financializer.com). As reported in the news.

shizuoka bank: The idea is that the banks get access to a steady stream of higher-yielding assets, while Shizuoka Bank can earn fees for arranging the deals, joining a market dominated by the nation's largest banks, according to The Japan Times. We will be able to originate deals without mega-banks and foreign players taking away profits if we can create a secondary market among regional banks, Shizuoka Bank President Hisashi Shibata said. Now some are fighting back. ; Shizuoka Bank Ltd. has lined up a network of 40 local lenders that will invest in structured assets such as project finance and non-recourse real estate loans. The new initiative is a sign of the extreme pressures facing Japan's regional lenders, who are at the mercy of a negative interest rate policy that threatens the viability of their mainstay business. We have to earn money somewhere. In this low interest rate environment, we can't make money by simply offering domestic corporate loans, Shibata said in an interview. (news.financializer.com). As reported in the news.

state minister: As Chinese firms' engagement in Ethiopia's overall investment landscape augmented in recent years, the mining sector has become a priority investment potential for potential Chinese businesses, garnering tremendous interest and capital, Kumsa told Xinhua on Monday, according to Global Times China. According to Kumsa, dozens of Chinese firms have been recently awarded licenses in the exploration and production of various mineral resources across mineral-rich parts of Ethiopia. In an exclusive interview with Xinhua, Ethiopia's State Minister of Mining and Petroleum, Assefa Kumsa, said that as the Ethiopian government invites experienced foreign companies to invest in the mining sector, a growing number of Chinese investors seek to penetrate in the exploration and production of the East African country's untapped mineral and natural-gas resources. Minerals such as gold, iron-ore, various types of precious stones, chemicals, oil and natural gas, as well as construction inputs are among the mineral resources in which Chinese firms are presently exerting their capital and technology in Ethiopia, according to the state minister. According to the agreement that was signed in Ethiopia's capital Addis Ababa, the Chinese firm will invest 57 million US dollars in Ethiopia's mineral-rich eastern Afar regional state, where an abundant reserve of Bromine -a chemical element used as an ingredient for ares including agricultural chemicals and chemical intermediates -is said to be at hand. Among the Chinese companies that have recently entered in Ethiopia's mining sector is Tanaramu Chemical Industrial Plc., which inked a 12-year contract accord with the Ethiopian Ministry of Mining and Petroleum late last week to embark on the production of Bromine chemical resource in Ethiopia. (news.financializer.com). As reported in the news.

trade war: Ian Winer, an advisory board member of Drexel Hamilton, believes that the U.S. is severely handicapped in its standoff with China, according to Market Watch. They are an autocracy and we are not. For some investors, it will be a much-needed reprieve, with stocks struggling to find support in a market battered by fears of an intensifying trade war between two economic titans the U.S. and China. They can tell their people whatever they want. They control the media. Our pain is felt real time in the press and our data. (news.financializer.com). As reported in the news.

scott morrison: This trip will show our Pacific step up' in action, Morrison said, according to The Guardian. He will be the first Australian leader to visit the Solomon Islands since Kevin Rudd in 2008. The prime minister, Scott Morrison, is expected to arrive in the capital, Honiara, on Sunday for a day-and-a-half bilateral visit before he heads to the United Kingdom and Singapore. Australia isn't doing its part for the global climate. A growing number of Pacific nations are signing up for China's controversial One Belt, One Road infrastructure building scheme. Sooner or later we'll have to pay our share John Quiggin Read more Infrastructure development is likely to be high on the agenda during bilateral talks between Morrison and his counterpart, Manasseh Sogavare. (news.financializer.com). As reported in the news.

monday: Mr Albanese on Monday called for bipartisanship in order to give certainty to businesses on energy policy, according to Nine News Australia. The time for the ongoing conflict over these issues surely is over, he told reporters in Sydney. To improve your experience update it here News National Albanese calls for unity on energy policy By AAP2 04pm May 27, 2019Facebook Tweet Mail New Labor leader Anthony Albanese wants to work with the government on climate change, but a voice within the coalition is more concerned with building coal-fired power stations. Climate action will create jobs, it will benefit our economy and it will benefit our environment. Labor's policies include a 45 per cent emissions reduction target and 50 per cent renewable energy target by 2030, but they are set for review after last weekend's shock election loss. And the business community say that - they are crying out for certainty. (news.financializer.com). As reported in the news.

months: Benchmark Capital Advisors who had been investing in Apple Computer Inc W/Rts for a number of months, seems to be less bullish one the 823.46 billion market cap company, according to MSNBC. The stock decreased 0.38% or 0.69 during the last trading session, reaching 178.97. The institutional investor held 17,341 shares of the computer manufacturing company at the end of 2018Q4, valued at 2.74M, down from 40,206 at the end of the previous reported quarter. About 23.71 million shares traded. AAPL has risen 0.49% since May 27, 2018 and is uptrending. Apple Inc. (news.financializer.com). As reported in the news.

week: Tehran says it has no interest in talking to the US administration, which has imposed tough sanctions on the country over its nuclear programme and last week sent 1,500 troops to the region, according to The Guardian. I know that the prime minister and Japan have a very good relationship with Iran so we'll see what happens, Trump, who has offered Tehran direct talks, told reporters before a working lunch with Abe. Speaking at a press conference on the penultimate day of his state visit to Japan, Trump also gave his backing to Abe's attempts to set up a first summit, without preconditions, with the North Korean leader, Kim Jong-un, hours after the regime described the US president's national security adviser, John Bolton, as a warmonger. Trump, who became the first world leader to meet Japan's new emperor, Naruhito, on Monday, added The prime minister has already spoken to me about that and I do believe that Iran would like to talk. We'll see what happens nobody wants to see terrible things happen, especially me. And if they would like to talk, we would like to talk also. (news.financializer.com). As reported in the news.

treasury yields: World Economyread more3-month yield tops 10-year rate in widest curve inversion since... Treasury yields fell broadly on Wednesday as continuing trade worries sparked fears of an economic slowdown, according to Xinhua China. Bondsread more Huawei tries for a swift end to its lawsuit against the US... Huawei has taken the next step in its lawsuit against the U.S. It has filed a motion for summary judgement, a request that the court rule in its favor as a matter of law, in... Technologyread more The new biggest Amazon bull on Wall Street sees it worth 1.3... Pivotal's Michael Levine sees Amazon worth 1.3 trillion in 12 months. Market Insiderread more Dow futures point to 125-point decline as yields keep falling Falling bond yields amid increasing tensions in the China-U.S. trade fight are raising concerns about slowing global economic growth.US Marketsread more Shares of rare earth miners jump after China threatens to cut off... Shares of rare earth miners in Asia Pacific surged on Wednesday after Beijing made a veiled threat toward Washington regarding the crucial minerals. Investingread more Airline consumer satisfaction soars to record high in annual... For all the complaints about flight delays, airports, cramped planes and bad food, J.D. Power's latest travel survey shows passengers are more satisfied than ever with airline... Airlinesread more Tesla rallied 90% the last time it suffered a pullback of this... Tesla shares have broken down in the middle of their worst pullback ever, and one analyst says they could fall further before finding a bottom. Retailread more Cramer The US economy 'could be on the verge of a significant... With consumer and corporate confidence waning, the economy could slowdown if something doesn't change soon, Jim Cramer says. Trading Nationread more Dick's Sporting Goods shares soar on earnings beat, retailer... Shares of Dick's Sporting Goods jump after the sporting-goods retailer reports quarterly earnings that top analysts' estimates, and raises its full-year outlook. (news.financializer.com). As reported in the news.

dominic raab: European elections 2019 final hours of voting before results announced - live Read more You can follow the latest on the Tory leadership race here, according to The Independent. Updated at 12.01pm EDTFacebook Twitter 11.27am EDT 11 27The Independent's commentator John Rentoul points out that at least 118 Tory MPs, or 37% of the parliamentary party, have already declared their voting intentions, according to lists compiled by Guido Fawkes and Conservative Home. Attention now switches to the European parliamentary elections. If the contest finished now Johnson would not make the final two candidates to be put to the wider membership. Dominic Raab has picked up 2 more. John Rentoul John Rentoul Numbers of Tory MPs publicly backing candidates. (news.financializer.com). As reported in the news.

gr ie: The party lost all of its MEPs as its vote share collapsed to only 3.3 per cent nationally after Nigel Farage's new breakaway group came top of the polls, 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. Gerard Batten has held his seat in London for a decade but was defeated on Sunday night after his voters switched over to the Brexit Party. You can form your own view. Subscribe now The party's controversial candidate Carl Benjamin, second on the party's South West regional list, was one of many who failed to get elected. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

halt anti-china: Thanks to the efforts of Indonesian government, the volatile situation was brought under control, according to Global Times China. Keeping a cool head this time, the local authorities took immediate measures, including temporarily restricting functions of social media to halt anti-China fake news, which falsely stated that several protesters had been shot dead by police from China. The community feared that the nightmare of 1998 could return. The anti-Chinese sentiment in Indonesia is rooted in unbalanced economic development, which has created a big gap between the rich and the poor. Some Indonesians often choose to vent their anger toward the Chinese community. Some in the Chinese community are relatively wealthy. (news.financializer.com). As reported in the news.

images names: Two employees at the firm said censorship of the Tiananmen crackdown, along with other highly sensitive issues including Taiwan and Tibet, is now largely automated, according to The Japan Times. Posts that allude to dates, images and names associated with the protests are automatically rejected. Censors at Chinese internet companies say tools to detect and block content related to the 1989 crackdown have reached unprecedented levels of accuracy, aided by machine learning and voice and image recognition. ; We sometimes say that the artificial intelligence is a scalpel, and a human is a machete, said one content screening employee at Beijing Bytedance Co., who asked not to be identified because they are not authorized to speak to media. When I first began this kind of work four years ago there were opportunities to remove the images of Tiananmen, but now the artificial intelligence is very accurate, one of the people said. Despite advances in AI censorship, current-day tourist snaps in the square are sometimes unintentionally blocked, one of the censors said. Four censors, working across Bytedance, Weibo Corp. and Baidu Inc. apps said they censor between 5,000-10,000 pieces of information a day, or five to seven pieces a minute, most of which they said were pornographic or violent content. (news.financializer.com). As reported in the news.

japanese culture: Then, one day on his way out of the office for the day, the general manager of my department passed behind my desk, according to The Japan Times. Without stopping, he blurted out I'd like to tell you that you're doing a good job, but I'm afraid it would just go to your head and you'd stop trying so hard. I knew I was doing a good job, and my work was going smoothly, but something was missing. As he waltzed out, I sat there in shock, because I now knew what hadn't felt right to me I hadn't been getting any verbal feedback, and now I understood why. ; Pointing out the positive In my home country of the United States, if you perform well at work, then you are likely to receive some positive verbal feedback, but it's not as common in Japanese culture. You might be invited out for dinner, or given o-miyage souvenirs when someone comes back from a business trip. In Japan, you may get nonverbal indications that your work is valued You may be given more work, more responsible or complex work, or invited to important meetings or to meet visiting VIPs. (news.financializer.com). As reported in the news.

michael edesess: Plus, watch an interview with the Father of the 401 k and his advice on why it's never too early to start saving for retirement, according to Market Watch. Jonathan Burton INVESTING NEWS & TRENDS Here are the Best New Ideas in Retirement The most innovative thinking on retirement, from how we save for it to how we spend it to what it all means. Check out why you should save at least 10% of your income to ensure a financially secure retirement, and read about how and when to face the emotional impact of this life transition. Here are the Best New Ideas in Retirement This one investment move can give you lifetime yearly income in retirement A simple annuity is a good way to keep from running out of money, writes Michael Edesess. The new math of saving for retirement may boil down to this one, absurdly simple rule You're probably not ready to retire psychologically Your emotional glide path' is as important as your financial plan. This one investment move can give you lifetime yearly income in retirement The new math of saving for retirement may boil down to this one, absurdly simple rule Why you should be saving at least 10% of your salary. (news.financializer.com). As reported in the news.

percent year: The inflow of multinational enterprises into high-end industries highlights the economic vitality of central China, including the provinces of Henan, Shanxi, Hubei, Anhui, Hunan and Jiangxi, as they move up the value chain for quality growth, according to Global Times China. In 2018, the region's economy expanded 7.8 percent, 1.2 percentage points higher than the national average. The projects are mainly in areas such as advanced manufacturing, new energy, new materials, electronic information, Internet of Things and modern logistics. The six provinces saw actual use of foreign investment up 16 percent year on year, with investment in the scientific research and technology service sector soaring five-fold, according to the Ministry of Commerce . The region has made progress in optimizing the existing production capacity and replacing old growth drivers with new ones. Ten member companies of the US-China Business Council attended the expo, which closed earlier this week. Last year, high-tech and new technology industries in Wuhan, the capital of Hubei, contributed over one-fifth of its gross domestic product, said the city's deputy mayor Xu Honglan. (news.financializer.com). As reported in the news.

nanyang government: Pang Qingnian, the head of Youngman Automobile Group, and the new engine have made headlines, according to Global Times China. The device can be powered with water and hydrogen fuel, the local Nanyang Daily reported Thursday. It also said that the 4-billion-yuan 580 million investment was intended to be used for the construction of a industrial park, but the project has not been approved yet. As the news went viral on China's social media, it drew widespread skepticism. How could this kind of controversial project get local government financial support Media reports said that the Nanyang government bought 72 hydrogen-powered buses at a cost of 86 million yuan from Youngman in April. Is it an upgraded water-into-oil scam many netizens on Weibo asked. (news.financializer.com). As reported in the news.

nudrat akram: I know this stint may not be enough for me to get a job but I am trying my best, according to The Japan Times. Modi came to power in 2014 promising jobs, but delivering on that has been a challenge. While nationalist Prime Minister Narendra Modi won a new five-year term promising to step up his campaign for a new India, 18-year-old Ahmed is pessimistic about getting a new job. ; There are so many people in Delhi and the competition is intense, said Ahmed, dressed like the other students in a black-and-white uniform at the three-month community course run in a police station in Old Delhi. And as soon as the election euphoria settles, Modi's government will have to find ways to boost investment and revive manufacturing to create new jobs. Nudrat Akram, 19, signed up for the course because her family could not afford to pay for higher education. Like Ahmed, most of the other 60 students at the government-sponsored skill development classes at the Old Delhi police station, all from poor families, were also apprehensive. (news.financializer.com). As reported in the news.

uber: UBER, 2.57% decided to shake things up, though, according to Market Watch. The ride-hailing service announced just a week ahead of time that it expects to report quarterly earnings for the first time since its monstrous initial public offering. Uber Technologies Inc. Coming Thursday, that will be a closely watched report, as the stock has failed to trade higher than the 45 pricing level of its initial offering and has attracted short sellers. Uber disclosed ahead of the IPO that it expected to lose at least 1 billion in the first quarter, with net revenue of 3.04 billion to 3.10 billion. Shares closed Friday at 41.51. (news.financializer.com). As reported in the news.

summer holiday: The best time for sellers to list their properties is early May or April, research suggests, but there are advantages to putting a home on the market this weekend, according to Market Watch. While this is a popular weekend to travel, school is still in session so many people are still waiting to go on their summer vacations. Memorial Day Weekend is the busiest summer holiday for real-estate activity, a recent study from real-estate company Home Light found. A lot of home buyers are hitting open houses instead of the beach, said Holden Lewis, housing expert at personal-finance website Nerd Wallet. The busiest week last year occurred two weeks before Memorial Day weekend, with 148,000 listings. Last year, 142,000 listings came onto the market in the week leading up to Memorial Day weekend, according to data from Realtor, making it the third-busiest week of the year for new listings. (news.financializer.com). As reported in the news.