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

rayong province: The Thai unit's annual capacity for the product is 140,000 tons after its latest expansion in 2012, according to the company, according to The Japan Times. Demand for polypropylene compounds is growing each year since it can be used to help reduce the weight of automobiles in such vehicle components as bumpers and instrument panels among other parts, the company said. Grand Siam Composites Co., its joint venture with a local partner, plans to increase production capacity of polypropylene compounds at a plant in Rayong province, southeast of Bangkok, by 13,000 tons a year with an investment of around 1 billion, the company said Friday. ; Construction is scheduled to be completed in May 2020 and operations will start the following month, it said. The local unit was established in 1996 and is owned 45.2 percent by Mitsui Chemicals and 46.2 percent by SCG Chemicals Co. under the Siam Cement Group. The company's global output capacity of polypropylene compounds will total 1.12 million tons annually in the year to March 2021, with Asia accounting for 630,000 tons, or 56 percent of the total, it said. Mitsui Chemicals also plans to ramp up production capacity for the same compounds in India by 12,000 tons per year in October 2020, according to the company. (news.financializer.com). As reported in the news.

official licenses: The move will catapult the country into a serious 5G industrial revolution, according to industry insiders, according to Global Times China. As 5G is very much faster than 4G, the official licenses will place the three carriers at the forefront of the global 5G race, as the technology is expected to accelerate the transformation of traditional industries and give rise to a myriad of new applications and business models. Photo VCG China will release 5G business licenses to its three major telecom carriers soon, the country's Ministry of Industry and Information Technology MIIT said Monday. The new technology will create tens of thousands of new jobs, and according to industry insiders, it is expected to create new value of between 900-1,300 billion yuan 130.3 billion to 188.2 billion in the next two years in China. There will be an announcement very soon, an official from the MIIT, who requested anonymity, told the Global Times on Monday. Industry insiders predict that the official distribution of 5G business licenses will take place later this week, likely on Friday. (news.financializer.com). As reported in the news.

quarter-on-quarter basis: It expanded 5.7 percent in the previous quarter. ; The data released by the Finance Ministry showed a 10th straight quarterly gain, underpinned by investment by chemical firms to produce cosmetics and auto components as well as machinery makers to expand production of equipment for use in construction, according to The Japan Times. On a quarter-on-quarter basis, seasonally adjusted capital expenditures excluding spending on software rose 1.1 percent. Investment by all nonfinancial sectors for purposes such as building factories and adding equipment and software stood at 15.68 trillion. But economists doubt the upward trend will continue as trade tensions between the United States and China intensify, igniting risks to the global economy. As there are risks, including weak exports arising from an uncertain outlook for the global economy, companies may refrain from investment, Shinke said. Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute, said investment by domestic firms aimed at streamlining operations in response to the labor shortage appeared to have supported capital spending. (news.financializer.com). As reported in the news.

summer u.s: Read Stock-market bear who called selloff says S&P 500 near fair value, but beware overshoots' The investor said that by the end of the summer U.S. benchmarks could fall to lower lows than those produced during a withering fourth-quarter selloff that culminated in the ugliest Christmas Eve trading session in history, according to Market Watch. The trade tensions are likely to get a lot worse because we have never in modern times had a trade war like this, Minerd said. The chief investment officer and one of the world's premier bond-fund managers, in a late-Wednesday interview, told Market Watch that the equity market is likely to stage a mini-rebound in the coming sessions but then, watch out. A fall to at least its December low for the S&P 500 SPX, 2.14% would represent a decline of roughly 16% from its current level, for the Dow Jones Industrial Average DJIA, 2.06% a drop to last year's nadir would mark a more than 13% skid, and for the Nasdaq Composite Index COMP, 2.65% a more than 18% tumble based on Thursday's trading levels. Our models signal markets will make new lows in the summer, he said. Source Fact Set data Caption outside of wrapper for normal article images Check out Market Watch's snapshot of the market Minerd said that by the end of next week, if not sooner, the market will find a near-term bottom but then his proprietary trading models indicate that a downturn is more likely than not. (news.financializer.com). As reported in the news.

visit: It may have been a surprise to others, but it certainly wasn't a surprise to the government, Morrison told reporters in the Solomons capital Honiara when asked about the Chinese naval visit, according to The Japan Times. We have known about that for some time. Amid heightened concern about Beijing's growing clout and military muscle-flexing, the appearance of a Chinese-flagged task group and around 700 sailors came as a surprise. ; It also came as Prime Minister Scott Morrison was away on a visit to the Solomon Islands, a key player in the South Pacific that China is hoping to woo away from its recognition of Taiwan. Morrison described the port call as a reciprocal visit, because Australian naval vessels have visited China. The vessels appeared to be the Kunlun Shan, an amphibious landing ship; the Luoma Lake, a replenishment ship; and the Xuchang, a modern frigate that is believed to be fitted with surface-to-air and anti-submarine missile systems. They were returning after a counter-drug trafficking operation in the Middle East. (news.financializer.com). As reported in the news.

trade war: The futures underlying the Dow and the S&P 500 are down around 0.6%, while Nasdaq are down 0.8%. Asian and European stocks and US futures slid sharply on Monday after China's defense minister vowed not to back down in its trade war with the US. Traders are increasingly pricing in a prolonged trade war hitting the global economy, said Jasper Lawler, head of research at London Capital Group, according to Xinhua China. Adding to the worries Chinese state media announced a government investigation into Fed Ex, and South Korean exports, seen as a canary in the coalmine for global growth, slowed sharply in May. Russell Boyce/Reuters Traders are increasingly pricing in a prolonged trade war hitting the global economy, said Jasper Lawler at London Capital Group. Comments out of China that seemed to escalate the dispute after President Donald Trump announced tariffs on all Mexican imports and the end of special trade treatment for India, a status that exempted billions of dollars of the country's products from US tariffs, according to CNN. If the US wants to talk, we will keep the door open, General Wei Fenghe said at the Shangri-La Dialogue in Singapore on Sunday, according to CNN. If they want to fight, we will fight until the end. Concerns grow that new threats against Mexico and India, heaped on top of the US-China trade dispute could push the global economy into recession, Lawler said. Bully us No way, he added. (news.financializer.com). As reported in the news.

nothing: The stock surged in early trading and closed up 1.67% for the day, according to CNN. As is so often the case in the Trump years, his tweets shattered norms but were not taken very seriously. The company declined to comment on Trump's provocation. As a presidential candidate he called for a boycott of Apple. No one really even remembers it. Nothing came of it. (news.financializer.com). As reported in the news.

kier: Shares in the FTSE 250 company plummeted by 41% to 163.8p, their lowest level since February 1999, according to The Guardian. Quick guide The lowdown on Kier Group Show Hide Kier builds and maintains infrastructure and buildings for the public and private sector, such as roads, rail, schools, hospitals, student housing, prisons, offices and homes. Kier, which employs 20,000 people and works on large infrastructure projects such as HS2 and London's delayed Crossrail said its underlying full-year profits would be substantially below earlier forecasts, at about 129m rather than 169m. It took on Carillion's share in HS2, the high-speed rail project that will connect London with other major contractsHS2 in joint venture to build 80km of the new high-speed rail link between the Chiltern Tunnel and Long Itchington Wood. Highways England smart motorway programme including M6, M20, M23. London's Crossrail Farringdon Station. (news.financializer.com). As reported in the news.

war: For markets, that's a tough pill to swallow, according to CNN. Trade war escalates The trade war between the United States and China is heating up just as President Donald Trump threatens new tariffs on goods from Mexico. (news.financializer.com). As reported in the news.

works: Hopefully by the end of the year ... we will come to a conclusion one way or another, Qantas chief executive Alan Joyce told reporters on the sidelines of an airline industry conference in Seoul, according to Nine News Australia. If the business case works, we will put in an order. To improve your experience update it here News National Qantas non-stop flights from Sydney to London could be approved by end of the year By Sarah Swain3 36pm Jun 3, has asked plane manufacturers Airbus and Boeing to present their best and final offer by August for planes capable of flying 21-hours non-stop from Sydney to London. Perth to London flights were launched last year. However, plans to put bunk beds in the cargo hold have been shelved, the company has confirmed. AAP Qantas is aiming for the planes to be delivered from late 2022, with the first Sydney-London flights likely in 2023, he said. (news.financializer.com). As reported in the news.

executive officer: Consequently, the regulatory agency ordered the oil firm's Group Chief Executive Officer, Mr, according to The Independent. Wale Tinubu, the deputy, Mr. By Ndubuisi Francis and Goddy Egene The Securities and Exchange Commission SEC yesterday announced that it had concluded its investigation into the activities of Oando Plc., and found its management involved in serious infractions such as false disclosures, market abuses, misstatements in financial statements and corporate governance lapses stemming from poor board oversight. Omamofe Boyo and other board members to resign and ordered that an Extra-Ordinary General Meeting be convened to appoint new directors, on or before July 1, this year. But in a swift reaction last night, Oando said it would challenge SEC's ruling, saying the alleged infractions and penalties are unsubstantiated, ultra vires, invalid and calculated to prejudice the business of the company. The Commission also barred Tinubu and Boyo, from being directors of public companies for a period of five years. (news.financializer.com). As reported in the news.

assistant professor: Louis area started offering the Impossible Whopper, a vegetarian version of its signature burger priced about a dollar higher than the original. ; Following the successful test run, Burger King announced it would introduce the meatless option nationwide by the end of the year, according to The Japan Times. Restaurants are really trying to tap into some of the growing consumer movement around shifting some of their diet or adopting a plant-based diet, said Aaron Adalja, assistant professor of food and beverage management at Cornell University. In early April, 59 of the fast-food giant's restaurants in the St. Amid soaring U.S. demand for meat substitutes a market that grew 23 percent in 2018 to exceed 760 million 83.1 billion in sales companies like Beyond Meat and Impossible Foods have been leading the charge to develop plant-based products that look and taste like meat. Founded in 2009, Beyond Meat uses a protein blend derived from mung beans, peas and brown rice in its Beyond Burger, with small amounts of beet and pomegranate for meat-like coloration. The offerings of these two California companies target a growing population of flexitarians, people who, for health and environmental reasons, have turned to plant-based foods as a replacement for some or most of their regular meat intake. (news.financializer.com). As reported in the news.

budget deficits: Project Syndicate When governments permit counterfeiting or copying of American products, it is stealing our future, and it is no longer free trade, according to Market Watch. So said President Ronald Reagan, commenting on Japan after the Plaza Accord was concluded in September 1985. NEW HAVEN, Conn. Today resembles, in many respects, a remake of this 1980s movie, but with a reality-television star replacing a Hollywood film star in the presidential leading role and with a new villain in place of Japan. The tough macroeconomic constraints facing a saving-short U.S. economy are ignored for good reason there is no U.S. political constituency for reducing trade deficits by cutting budget deficits and thereby boosting domestic saving. Back in the 1980s, Japan was portrayed as America's greatest economic threat not only because of allegations of intellectual-property theft, but also because of concerns about currency manipulation, state-sponsored industrial policy, a hollowing out of U.S. manufacturing, and an outsize bilateral trade deficit. (news.financializer.com). As reported in the news.

export markets: According to China Customs, the trade in goods between China and the US grew from less than US 2.5 billion in 1979 when the two countries forged diplomatic ties to US 633.5 billion in 2018, a 252-fold increase, according to Global Times China. In 2018, the US was China's largest trading partner and export market, and the sixth largest source of imports. In 2018, bilateral trade in goods and services exceeded US 750 billion, and two-way direct investment approached US 160 billion, the white paper said. According to the US Department of Commerce, in 2018 China was the largest trading partner of the US, its third largest export market, and its largest source of imports. During the ten years from 2009 to 2018, China was one of the fastest growing export markets for American goods, with an annual average increase of 6.3 percent and an aggregate growth of 73.2 percent, higher than the average growth of 56.9 percent represented by other regions in the world, the white paper said. China is the key export market for US airplanes, soybeans, automobiles, integrated circuits and cotton. (news.financializer.com). As reported in the news.

guangdong province: However, it has been proved by history that the country will only become stronger after experiencing such a challenge in its road of development, according to Global Times China. During a three-day visit to Dongguan, a manufacturing hub in South China's Guangdong Province, dubbed the world's factory, I saw two familiar scenes traditional labor-intensive manufacturing and high-end robots working with only a few people. Photo Zhang Hongpei/GT It is undeniable that the ongoing trade war waged by the Trump administration has caused some impact on China's economy, especially export-oriented businesses. The boundaries between the developed downtown and the sprawling rural areas are blurred. Some obsolete two- or three-story facilities stand next to shiny office buildings. But Dongguan's 30-some towns have built up their own unique industrial chains over the past few decades in sectors ranging from shoes to electronic goods. (news.financializer.com). As reported in the news.

iran: Pompeo repeated long-standing U.S. accusations that Iran is bent on destabilizing the region, but he also held out the possibility of talks as President Donald Trump has suggested, according to Market Watch. Trump himself had raised the idea of talks without preconditions in July 2018, although that was well before tensions had reached their current point. But the United States will not relent in trying to pressure the Islamic Republic to change its behavior in the Middle East, America's top diplomat said. In the 11 months since then, the U.S. has imposed crippling sanctions on Iran, first in November and then again last month, targeting the most lucrative sectors of its economy. Iran's president, Hassan Rouhani, said the U.S. must return to the historic 2015 nuclear deal, which Trump withdrew from in May 2018. The action has drawn Iran's ire and strong words of threatened retaliation. (news.financializer.com). As reported in the news.

import products: Prime Minister Narendra Modi's new government must prepare for a trade conflict with the US as Trump tries to reduce that deficit, according to Global Times China. As the Indian economy slows down, Modi is looking to the manufacturing sector to drive economic growth and create jobs. The US merchandise trade deficit with India was 21.3 billion in 2018. However, it is unrealistic to expect the US to digest India's excess industrial capacity by shoring up its exports. Modi's new government must find new export avenues for made-in-India products if it pursues an export-led growth strategy. With trade protectionism as a guiding principle, the US is unlikely to import products from Asia as generously as it used to. (news.financializer.com). As reported in the news.

malay english: I definitely fear Kristang could disappear, the 50-year-old teacher told AFP, as the youngsters dressed in Portuguese-style traditional costumes laughed and danced, according to The Japan Times. Many Eurasians have moved out of the settlement and the children only speak Malay and English, she added, referring to an area of Malacca that has traditionally been home to speakers of the language. The youngsters chant bong atardi mestri good evening teacher and work their way through songs including Bunitu siara siorus Beautiful ladies and gentlemen and Gato do matu The jungle cat . ; Sara Santa Maria runs the weekly classes at her home to ensure the younger generation learn Papia Kristang, one of several steps aimed at preserving an endangered language spoken by people of mixed Portuguese and Malaysian ancestry. Kristang developed after the Portuguese took over the strategic port city on the Straits of Malacca, one of the world's most important shipping routes, about 500 years ago and colonizers married local women. After Portuguese rule, the Dutch colonized it and later the British took it over until Malaysian independence. It was an era when tiny Portugal had a global empire and Malacca, a center of the lucrative spice trade, was a key prize for rival powers. (news.financializer.com). As reported in the news.

policy support: Everyone, please don't worry, according to The Japan Times. At present we don't yet have this plan, it said in a statement on its website. The China Banking and Insurance Regulatory Commission CBIRC took control of Baoshang on May 24, rattling Chinese markets and prompting the People's Bank of China PBOC to inject cash into the banking system. ; In response to concerns that regulators planned more takeovers of financial institutions, the PBOC said on Sunday that Baoshang was a standalone case. The PBOC also said it would use various monetary policy tools to stabilize money markets and boost banking system liquidity, but did not mention broader easing. The central bank has previously pledged more policy support for a slowing economy, but PBOC Gov. The PBOC has fully estimated and prepared for the various factors that will affect liquidity in June, and will flexibly use reverse repurchase agreements and the medium-term lending facility in accordance with the cash supply-and-demand situation of the market, it said in a statement. (news.financializer.com). As reported in the news.

american technology: Marketsread more Fed's Evans 'Pretty comfortable' with policy, but 'nervous'... The Fedread more China is ramping up its own chip industry, according to Xinhua China. That could hurt... The U.S.-China trade war and the threat that Chinese firms could be cut off from American technology has boosted China's push for its own semiconductor industry. Market Insiderread more Dow futures point to 200-point gain after China comments on trade...U.S. stock index futures rose after China's Commerce Ministry said the trade dispute with the U.S. should be resolved with dialogue.US Marketsread more China Commerce Ministry US trade dispute will need to be solved... China Ministry of Commerce said Tuesday that the trade conflict with the U.S. will need to be resolved through further talks. Technologyread more Investors want a Fed rate cut before economy turns Financial markets not to mention the White House are demanding a cut, and it's likely to get at least one before the year ends. Technologyread more Netflix shares rise on upgrade 'Unstoppable lead'Loop Capital Markets increased its rating on Netflix shares to buy from hold on Monday. The Fedread more The government is threatening big tech and the market just took... Apple, Google, Facebook and Amazon are facing potential regulatory scrutiny and investors are paying close attention. (news.financializer.com). As reported in the news.

salesforce: While the outage only lasted a few hours, some customers were affected for days, according to Market Watch. Discussions with some customers indicate that the outage resulted in disrupted service for three days Friday, Saturday, and Sunday said Jefferies analyst John DiFucci, who has a buy rating and 189 price target, in a recent note. Salesforce CRM, -4.17% is scheduled to report first-quarter results after the market close on Tuesday, nearly three weeks after the company experienced a major outage on May 17. We also note that salesforce provided credits to these customers for three days of subscription revenue, DiFucci said. Salesforce stock has slipped over the quarter amid that acquisition news, leading some analysts to believe there is investor fatigue with regard to growth software vendors. This could potentially impact up to 3% of subscription revenues for the upcoming fiscal second quarter assuming three days of subscription revenue . Also expect executives to revisit the acquisition of Salesforce.org, which is expected to result in a 200 million profit hit in the second quarter. (news.financializer.com). As reported in the news.

tiananmen massacre: Artists played an important part in the movement; just think of the statue of the goddess of democracy, according to Deutsche Welle. After the violent suppression of the nationwide democracy movement in China, art was the first form of expression that sought a new visual language to reflect on social developments in the country. The public memory of the Tiananmen massacre is still a taboo subject in China 30 years later. Deutsche Welle Is there any such thing as critical or dissident art left in China - a country that with its firm grip and control over its population has become increasingly totalitarian in recent years Andreas Schmid There certainly is art that deals with the problems and challenges of society. Since then, many artists in China have always had a certain undertone in their work that deals with the country's social issues, even though the images may not always seem that way at first glance. That's actually been the case for 40 years, since 1978. (news.financializer.com). As reported in the news.

practices investigations: Facebook has said it may cost as much as 5 billion to resolve a Federal Trade Commission probe of its privacy practices, according to The Japan Times. The Menlo Park, California-based company also faces a consumer class action over those practices and investigations in several states. ; Facebook had argued the court should stay the matter because of other cases, but it now needs to produce documents for the D.C. judge. The decision on Friday by D.C. Superior Court Judge Fern Saddler adds to the pressure on the company to change how it handles subscribers' personal information. We do not believe this lawsuit has any merit and will continue to defend ourselves vigorously,' Facebook said in a statement responding to the ruling, calling privacy a top priority.' The case was filed in December by D.C. Attorney General Karl Racine, who accused Facebook of giving Cambridge University researcher Aleksandr Kogan access to the personal information of some 70 million Americans, 340,000 of whom live in the capital. We will immediately turn our focus to obtaining all of the evidence proving that Facebook broke District law and did not follow its own policies to protect the privacy of more than 340,000 Facebook users who reside in the District,' Racine said in a statement. That data were later exploited for the campaign by the consulting firm Cambridge Analytica. (news.financializer.com). As reported in the news.

twitter share: Academics, tutors and students say some international students are struggling to understand instructions in class, complete assignments and communicate with other students, according to The Independent. They say English standards have been set too low and can be bypassed by enrolling in bridging courses. Economy Australian Politics Australian Property Australian Shares Australian Dollar Australian interest rates Australian banks Australian budget Global Macro Carbon Economy China Economy European Economy New Zealand EconomyUS Housing Commodities Iron ore price Australian LNGGold End site-header ; Primary Section Share on Facebook Share on Twitter Share on Reddit -War erupts over international student English standards By Unconventional Economist in Australian Economy, Featured Articleat 12 08 am on June 3, 2019 30 ; Earlier this year, Victorian Premier Daniel Andrews called for a review of university English-language standards out of concern that many international students were struggling to keep up with their peers, were placing intense strain on both university lecturers and teaching staff, and were eroding the overall quality of education provided at Australia's students are a vital part of Victoria's education system but it's concerning that some students are enrolled in courses without adequate English language skills to complete them, he said. The Premier's call follows an explosion of international student numbers, which surpassed 600,000 for the first time in March 2019 As well as an extreme concentration of international students at Australia's Group of Eight ; In the wake of last month's explosive Four Corners report, which revealed that Australia's universities were overlooking their own English language requirements in order to lift international student numbers and profits, federal education minister, Dan Tehan, on Friday announced that the Coalition would tighten rules around English standards. My kid's off at university doing a group assignment and, in some instances, they are the only ones that can understand English . Dan Tehan Look, we do have to make sure that we protect what is now a 35 billion industry for Australia. From The Canberra Times The Tertiary Education Quality and Standards Agency, the independent regulator of universities, recommended to Mr Tehan in March that tougher English language standards be applied to academic foundation courses that provide foreign students with a pathway into enrolment at universities the regulator also advised that monitoring of universities' compliance could be sharpened, including by forcing them to record, in detail, the basis on which a student met the required English language entry standard Mr Tehan is said to be supportive of the changes and the Department of Education is now developing advice for him on how they would operate The below interview with Minister Tehan on Radio 2GB elaborates ; Ben Fordham 2GB I've had mums and dads calling me They say look, it's not fair. (news.financializer.com). As reported in the news.

eu: Businesses in EU-member states are now working to ensure compliance with these laws, which they have three years to achieve, according to The Independent. That the EU is assuming a leadership position here is not surprising; EU workers have been known to enjoy greater job protections than their American counterparts. These new policies were significant, representing the first EU legislation in 20 years to set minimum workers' rights. But the fact that the U.S. government has not taken steps to build in similar protections for our own gig economy workers is cause for major concern, and it's time for policy makers to step up to the plate. That is no longer the case, as gig economy workers and independent contractors are becoming mainstream. For many years, the alternative work arrangement or side hustle, which is essentially anything other than a 9-to-5 salaried job was seen as little more than an effort to make quick cash to supplement an existing full-time income. (news.financializer.com). As reported in the news.

states: As of June 5th, India will be terminated from its designation as a beneficiary developing country, according to CNN. The move adds one more front to Trump's global trade wars. I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets, President Donald Trump said in a proclamation issued by the White House. It comes as Trump took new aim at Mexico this week with threatened tariffs if the country does not step up its immigration enforcement actions. India will be removed from the preferential trade program, known as the Generalized System of Preferences, which gives developing countries easier access to the US market and lowers US duties on their exports. The President has also promised new levies on China amid an impasse in negotiations over a renewed trade deal, and is considering a ban on foreign auto imports. (news.financializer.com). As reported in the news.