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

control: He added that Russian-Chinese relations have reached an unprecedented level, according to CNN. In the joint agreement that we signed on strengthening global strategic stability in the modern era we empathized the principled stance of Russia and China on the unacceptability of jeopardizing the existing system of agreements on arms control, disarmament and nonproliferation, Putin said. During the visit, which was aimed at cementing economic ties between the two countries amid China's heated trade war with the United States, Putin thanked Xi for helping their countries achieve a trade turnover of more than 100 billion a year. On many international and regional issues Russia's geopolitical views align with those of China, he added. Petersburg International Economic Forum, and will commemorate the 70th anniversary of the establishment of diplomatic ties between the two countries. Russian President Vladimir Putin and his Chinese counterpart Xi Jinping exchange documents during a signing ceremony following their talks at the Kremlin in Moscow. context Image Object name Russian President Vladimir Putin and his Chinese counterpart Xi Jinping exchange documents during a signing ceremony following their talks at the Kremlin in Moscow. description Russian President Vladimir Putin and his Chinese counterpart Xi Jinping exchange documents during a signing ceremony following their talks at the Kremlin in Moscow. url Xi is expected to spend three days in Russia at the invitation of Putin, which coincides with the annual St. (news.financializer.com). As reported in the news.

clive betts: Ministers have committed to reforming the practice of buying and selling freeholds after it was criticised by a housing, communities and local government select committee report in March, according to The Guardian. Reacting to claims about Greene's former role, Clive Betts, the chair of the committee, said Ordinary people are being ripped off by greedy management companies who exploit them to make an inflated profit. Mike Greene, expected to become the fledgling party's first MP on Thursday, was for two years an alleged office holder in E&J Ground Rents No4 llp a firm which bought and sold the rights to charge ground rent across the UK. Greene's former business partner in the firm, James Tuttiett, has built one of the biggest property empires in the UK made up of controversial freeholds, allowing him to charge homeowners for the land their house is built on. It shows the Brexit party's true colours as a Thatcherite party with no concern for the people of this country. Greene, 54, came to national prominence on Channel 4's The Secret Millionaire in 2011. Nigel Farage's party is the bookmaker's favourite to take Peterborough, a seat made vacant after the recall of the former Labour whip Fiona Onasanya for lying about a speeding ticket. (news.financializer.com). As reported in the news.

jfk: Along the way, Matthews forgot to note the obvious double standard of his cult-like support for both the Kennedy and Obama families and in particular the former with three glowing books on JFK and RFK . But Matthews had a narrative to push, so that admission was nowhere to be found, according to MSNBC. Here was Matthews making the transition from the protests against Trump in the U.K. to this matter that was grinding his gears click expand Really, it has bugged me since the day Trump arrived in Washington. Eastern! Matthews Throws Fit Over Trump Kids on U.K., Forgets Royalty-Like Affection for Kennedys Tweet Print Reddit By Curtis Houck June 5, 2019 6 20 PM EDT Along with many comrades in the liberal media, MSNBC's Hardball host Chris Matthews was incensed that all of President Trump's adult children joined him on his State Visit this week to the United Kingdom, belly-aching on Tuesday's show about the ridiculous modern-day Romanovs going overseas projecting a sense of royalty. He was elected in the Electoral College. He was elected in the Electoral College. We all accept that. (news.financializer.com). As reported in the news.

families: The result is that a child's socioeconomic class at birth has a tremendous influence on his or her life trajectory, according to The Guardian. If our capitalist system is going to be fair to children and families if it is going to hold out any meaningful promise of equal opportunity then a new social contract is needed. These disparities translate into vastly different levels of childhood resources and experiences. Government cannot promise equal outcomes to children, but it can promote equal opportunities. Children should have the opportunity to rise as far as their talents and work will take them. This is achieved through the provision of public goods and services, including safety net supports and quality educational institutions. (news.financializer.com). As reported in the news.

fears: Market Insiderread more Stanley Druckenmiller fears tariffs could kill the market's... Druckenmiller says that while Trump's tariffs may not appear damaging on paper, their chilling effect could have a greater market impact, according to Xinhua China. Hedge Fundsread more Elliott Management to acquire Barnes & Noble for 683 million Elliott, the firm founded and led by billionaire Paul Singer, acquired Britain's biggest bookseller, Waterstones, last year. Morning Briefread more The jobs report is coming and it doesn't get more important than... The economy was expected to add a solid 180,000 jobs in May, but if the payroll number is way off, that could be a game changer for markets. Owning the two book retailing giants could give... Retailread more Stanley Druckenmiller says the US is in bad shape for a recession Druckenmiller believes the Fed should have raised rates more in 2016 when it had the chance. Marketsread more Economists The Fed 'isn't enough' to offset tariff fights with...A dovish Federal Reserve can use tools such as rate cuts to lessen the damage of America's tariff skirmishes with China and Mexico, but it is either limited in its... The Fedread more Druckenmiller says he wouldn't be against a higher capital gains... Billionaire hedge fund manager Stanley Druckenmiller said he doesn't have a problem with a higher capital gains tax. Marketsread more Druckenmiller says stocks would fall 40% if Sanders were elected... Longtime hedge fund manager Stanley Druckenmiller says stocks would plummet if Bernie Sanders were elected president in the 2020 election. (news.financializer.com). As reported in the news.

trade war: While there is no need to panic, we should also prepare for worst-case scenarios, according to Global Times China. Everyone is concerned about how trade frictions will escalate. Many institutions have forecast the impact of increased tariffs on China's economic growth to be around 1 percentage point. First will come escalated tariffs. According to my estimates, the US may have suffered more at the beginning, but China's losses could be bigger later. In the early days of the trade war, American consumers shouldered much of the burden of tax increases. (news.financializer.com). As reported in the news.

voting structure: A majority of independent investors voted to dethrone Zuckerberg as the company's board chairman and overhaul a voting structure that gives Facebook execs significantly more voting power than outside investors, according to The Independent. That same voting structure, however, meant that no matter how the independent shareholders voted, Zuckerberg isn't about to step down from the Facebook board anytime soon. As Facebook continues to slog through a series of crises from the Cambridge Analytica scandal to looming antitrust investigations, shareholders signaled their displeasure with the C.E.O.'s outsized influence through a series of votes at a recent shareholder meeting. According to an analysis of U.S. Securities and Exchange Commission data by the activist shareholder organization Open MIC, 68% of outside investors voted during the May 30 meeting for Facebook to separate the board chairman role from the C.E.O., up from 51% who voted on a similar proposal last year. Under the current structure, Class A voters receive only one vote per share, while Class B voters which consist of the company's management and directors receive 10 votes per share. An even more overwhelming majority, 83%, voted to implement a one share, one vote system at Facebook, replacing the dual-class structure that's now in place. (news.financializer.com). As reported in the news.

record volumes: Whether it's initial public offerings, tech shares, housing debt, high yield debt or sovereign debt, previous booms and busts give us a very clear guide of what will eventually end badly, according to Market Watch. Tech Wreck 2.0 One of the most consistent ways to gauge the bullishness of equity investors is to assess the quality and quantity of IPOs. In both equity and debt markets investors are buying securities that have identical characteristics to the disasters of the recent past. IPO volumes tend to rise through the cycle, peaking when equity indexes are near their peaks. This year has so far been a boom year for IPOs in the U.S., with it likely to be one of the best years since the record volumes of 1999 and 2000. This makes sense as those who own and manage businesses are generally well-placed to identify when the market will pay them a favorable price for their business. (news.financializer.com). As reported in the news.

vehicle shipments: Those tariffs would gradually rise to 25 percent by Oct. 1 if Mexico does not satisfy Trump's demands. ; Faced with this threat, major automakers are also planning to delay some vehicle shipments from Mexico, people briefed on the plans said Tuesday, according to The Japan Times. The shipment delays would affect vehicles with high inventory levels on U.S. dealer lots if the tariffs take effect. Trump has said he will apply tariffs of 5 percent on Mexican goods next Monday if Mexico does not halt the flow of illegal immigration, largely from Central America, across the U.S.-Mexican border. Automakers are trying to speed some critical parts shipments this week ahead of the Monday deadline. A prolonged period of tariffs on Mexican imports would likely push Mexico into recession and could also threaten a recession in the United States, LMC said. Consultancy LMC Automotive said Tuesday the industry could absorb a 5 percent tariff for a month, but that a sustained period at the 25 percent tariff level will have a potentially devastating impact on the auto industry and cut U.S. new vehicle sales by up to 1.5 million units annually. (news.financializer.com). As reported in the news.

years india: Former Treasury Secretary Lawrence Summers wrote on Twitter that the Fed should cut by 50 basis points over coming months, if not more, to ward off recession risks, according to The Japan Times. And European Central Bank officials are poised on Thursday to at the very least agree on generous terms for new long-term loans for banks. With Australia cutting interest rates Tuesday for the first time in three years and India likely to follow Thursday, monetary policymakers are again seeking to shore up weak growth and inflation. ; Federal Reserve Chairman Jerome Powell signaled an openness to loosening if necessary. Stocks in Asia rose after Powell's signal. The upshot is global monetary policy is turning looser just months after the Fed and many of its counterparts seemed intent on spending 2019 shifting away from the emergency settings of the past decade. Japan led the charge, with the 225-issue Nikkei average ending up 1.8 percent. (news.financializer.com). As reported in the news.

income: To date, Japanese tax regulators reportedly consider crypto-related revenues as miscellaneous income, which is taxed at 55%. In accordance with the current law, local entities who earn more than 200,000 yen 1,850 in such income on an annual basis are required to disclose it, the article notes, according to Asahi Shimbun. As previously reported, in order to combat tax evasion in the industry, the Japanese government is preparing a new system that will authorize the National Tax Agency NTA to request revenue information from crypto exchanges, including names and addresses. According to Asahi, about 30 crypto-related businesses and 50 individuals have not declared their revenues from cryptocurrency trading as of March, allegedly due to a high tax on this type of income. Expected to be introduced in April 2020, the new law will allow the NTA to request data primarily for those users whose earnings from crypto amounted to more than 10 million yen 88,700 . Asahi adds that the new system will be launched in January 2020, and it will also authorize the Japanese government to penalize those exchanges or crypto operators who fail to disclose the necessary information. Meanwhile, Japan, which is reportedly ranked as the second country globally for traffic to crypto exchanges after the United States, has recently passed new crypto regulation in the upper house of the parliament. Earlier this year, the Japan Association of New Economy JANE asked the Japanese Financial Services Agency FSA to consider reducing crypto taxes from the current 55% to 20%. The association has also asked the regulator to impose no taxation for crypto-to-crypto transactions. (news.financializer.com). As reported in the news.

marina fang: I want to protect women in Georgia, the former gubernatorial nominee said, advocating against a boycott, according to MSNBC. By Marina Fang Former Georgia gubernatorial nominee Stacey Abrams on Tuesday reiterated her calls against a Hollywood boycott of Georgia over its new abortion restrictions, urging leaders to stay and fight long-term systemic issues like voter disenfranchisement, which has enabled the ascent of anti-abortion lawmakers. Open Search Log In Join Huff Post Plus Join Huff Post Plus function var disable AdRotation 1 ; var ads Div // enable Queue 0 wait ForGlobal function return window.html AdWH && window.ad SetSync Called; function // override ads Pl in template if 'function' typeof window.ad SetPlId if 'undefined' typeof window.orig AdsPlId window.orig AdsPlId window.ads Pl; if 'undefined' ! typeof window.orig AdsPlId // override ads Net Id in template if 'function' typeof window.ad SetNet Id if 'undefined' typeof window.orig NetId window.orig NetId window.ads Nt; if 'undefined' ! typeof window.orig NetId ads Div.reload Count 0; var recovery Id ''; var needs Recovery recovery Id && recovery Id.length && kraken ad Block && kraken ad Block.active; var ad Id needs Recovery recovery Id '93318099'; // try ad Id ad Id; catch e // Override adtech call type var delivery type default ; var adtech call type ; switch delivery type case by request adtech call type ajax ; break; case text adtech call type text ; break; case iframe adtech call type iframe ; break; case iframe proxy adtech call type f ; break; case collapsed adtech call type fc ; break; default adtech call type fc ; break; var args 'lb', 'lb' ; if needs Recovery function ads Div //html AdWH ad Id, args 0 args 1 fileless ads Div ; ; else html AdWH ad Id, args 0 args 1 adtech call type, ads Div ; if !disable AdRotation ads Rotate Mult ads Div ; if typeof debugadcode 'function' debugadcode 'AdTech', placement 'leaderboard flex', mnid ad Id ads Div ; wait ForGlobal 'jQuery', function function ev, elem if elem && !elem.contains ads Div return; var refresh Rate 1; ads Div.reload Count ; if ads Div.reload Count % refresh Rate 0 && typeof ads Reload Ad 'function' ads Reload Ad ads Div ; ; ; ad SetInView '0' ; ; // wFG html AdWH //modulous queue closing ; if typeof HPAds ! 'undefined' POLITICS 06/05/2019 12 49 pm ETStacey Abrams Urges Hollywood To 'Stay And Fight' Georgia Abortion Law I want to protect jobs in Georgia. My intention is to stay and fight, to build the political power to not only fight back against these bans and fight back against forced pregnancy, but to build the political capacity to not have the fight again for 40 more years, last year's Democratic gubernatorial candidate said on MSNBC. Abrams confirmed that she is scheduled to meet with film industry executives in Los Angeles on June 11, along with Ilyse Hogue, the president of abortion rights group NARAL Pro-Choice America. I want to protect jobs in Georgia. The meeting was first reported by the Atlanta Journal-Constitution on Monday. (news.financializer.com). As reported in the news.

pds: This is only the second system with more than one planet to be captured in an image, according to Nine News Australia. The star is known as PDS 70 and it's 6 million years old. To improve your experience update it here News Technology Alien worlds growing in 'planet nursery' around young star By CNN12 48pm Jun 5, have photographed two juvenile exoplanets that are still growing as they orbit a young star 370 light-years from Earth. PDS 70 is smaller and less massive than our sun, and it's still gathering material. And carving out a wide gap within that disk are the two planets, PDS 70 b and PDS 70 c. Around the star, there's a large disk made of gas and dust. (news.financializer.com). As reported in the news.

stock: Schaper Benz & Wise Investment Counsel Inc who had been investing in Varian Medical Systems for a number of months, seems to be less bullish one the 11.59B market cap company, according to MSNBC. The stock increased 0.35% or 0.45 during the last trading session, reaching 127.43. The institutional investor held 97,124 shares of the health care company at the end of 2019Q1, valued at 13.76M, down from 105,312 at the end of the previous reported quarter. About 77,771 shares traded. VAR has risen 10.68% since June 5, 2018 and is uptrending. Varian Medical Systems, Inc. (news.financializer.com). As reported in the news.

deal: Spurs cannot afford to allow him to run down his deal and leave as a free agent next summer, given his high value at arguably the peak of his career and the fact they have repayments to make on their new stadium, according to The Guardian. Consequently, they have let it be known in recent weeks he would be available at a price, albeit an extremely high one. The 27-year-old Denmark midfielder, who has been at Spurs since 2013, has one year to run on his current contract and has shown no inclination to renew for another cycle in north London. Transfer window 2019 every summer deal from Europe's top five leagues Read more Daniel Levy, the chairman, has quoted 130m for him, which might seem like wishful thinking but it offers an impression of where he is drawing the lines for negotiations. I feel that I am at a stage of my career where I would like to try something new, Eriksen told the Danish newspaper Ekstra Bladet. Eriksen has repeatedly refused to discuss his next move with reporters and last week, in the buildup to Spurs' Champions League final against Liverpool, which theylost 2-0, he turned on his heel and left one interview when asked about his future. (news.financializer.com). As reported in the news.

auto parts: He also said Hitachi will promote structural reforms at business divisions with low operating margins, including auto parts, medical equipment and home appliances, according to The Japan Times. In fiscal 2021, Hitachi aims to generate 2.6 trillion in sales in the IT sector, up from 2.1 trillion in fiscal 2018, and 1.7 trillion at the energy sector, up sharply from 423.5 billion. The company plans to use up to 2.5 trillion for growth investment in fiscal 2019-2021, including business acquisitions, up from 500 billion in the previous three years. ; We'll invest intensively in the information technology field to globalize our operations, Hitachi President Toshiaki Higashihara said at a meeting with investors held in Tokyo, explaining its new three-year business program. In the IT sector, Hitachi will use 1 trillion for growth investment over the three years, mainly for projects related to its Lumada digital solutions that are designed to improve efficiency in train operations and electricity supply systems. But the beeping from her bionic arm gives her away ... Trump adviser and leading GOP senator both say Mexico tariffs might not happenA White House trade adviser and a leading Republican senator said on Wednesday that a U.S. plan to impose tariffs on Mexican goods might not go into effect, offering hope for Mexico and American... Fiat Chrysler withdraws merger offer for Renault after France fails to win Nissan's outright support Fiat Chrysler said Wednesday it was withdrawing its 35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-bigg... /4973089/JT-teads googletag.cmd.push function googletag.display ; ; Twitter Facebook Linked In LATEST BUSINESS STORIESAi-Da, the humanoid robot artist, gears up for first solo exhibition in Oxford Wearing a white blouse and her dark hair hanging loose, Ai-Da looks like any artist at work as she studies her subject and puts pencil to paper. (news.financializer.com). As reported in the news.

beloit corp: SWKS, -2.07% Kansas City Southern KSU, 1.85% Sensata Technologies Holding PLC ST, -0.22% Lear Corp, according to Market Watch. LEA, 1.28% Regal Beloit Corp. But the effect on firms that report a large share of assets in Mexico will be much greater, Snider wrote, pointing out that these companies underperformed the S&P 500 last Friday by nearly 3%. Caption outside of wrapper for normal article images Snider's analysis shows 6 companies in the Russell 1000 RUI, 0.80% that have more than 20% of their assets in Mexico, including Skyworks Solutions Inc. RBC, -0.46% and Lennox International Inc. Mexican imports will be hit with a 5% tariff starting June 10 that will rise be 5% each month to a maximum level of 25% until the illegal immigration problem is remedied, according to a tweet last week by President Trump. LII, -0.24% The only one of these stocks to have outperformed the S&P since Thursday's close has been Regal Beloit. (news.financializer.com). As reported in the news.

budget deficits: Now, with fellow economists Carlo Favero and Francesco Giavazzi, Alesina has written a new book titled Austerity When It Works and When It Doesn't, which recently received a favorable review from his Harvard colleague Kenneth Rogoff, according to Global Times China. New book, old tune. Back in 2010, Alesina told European finance ministers that many even sharp reductions of budget deficits have been accompanied and immediately followed by sustained growth rather than recessions even in the very short run. The authors' conclusion, in a nutshell, is that in certain cases the direct output cost of spending cuts is more than compensated for by increases in other components of aggregate demand. Alesina's previous work in this area with Silvia Ardagna was criticized by the International Monetary Fund and other economists for its faulty econometrics and exaggerated conclusions. The implication is that austerity - cutting the budget deficit, not expanding it - may well be the right policy in a recession. (news.financializer.com). As reported in the news.

construction work: Economists were expecting a figure of 50.5, according to The Independent. A reading above 50 indicates growth; below represents contraction. The Markit/CIPS UK Construction Purchasing Managers' Index recorded a reading of 48.6 for May, down from 50.5 in April. Last month's reading is the lowest since extreme weather during last year's Beast from the East prevented construction work from going ahead in March 2018. 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. It is also the third time the sector has contracted in the past four months. (news.financializer.com). As reported in the news.

cryptocurrency: Last year, I read some 'controversial statements' from Buffett on cryptocurrency, according to Global Times China. I think the root reason for his misunderstanding is because there is no one 'good enough' to explain the technology. File photo VCG Chinese blockchain entrepreneur Sun Yuchen, who won a charity auction for a lunch meeting with Berkshire Hathaway CEO Warren Buffett, told the Global Times that he hopes to update the billionaire on technological progress in the blockchain and cryptocurrency sectors and clear up some misunderstandings Buffett holds face to face. So I hope the lunch will help him form a deeper understanding of cryptocurrency, Sun told the Global Times in an exclusive interview on Tuesday. In his introduction on Weibo, Sun also identified himself as being among the first graduating class of Hupan University, founded by Jack Ma Yun of Alibaba. Sun, the 28-year-old founder of blockchain platform TRON, revealed on his Weibo account Tuesday that he had won an annual charity auction to have lunch with Buffett through his record 4.6 million bid. (news.financializer.com). As reported in the news.

economy: What will be the direct impact on the Chinese economy if the latest round of US tariffs imposed on China kick in Li The biggest impact will be mainly psychological and would affect confidence, according to Global Times China. For instance, some investors may lose confidence and mix the turbulence in the China-US trade talks with some domestic economic problems. Meanwhile, China's economy has proved resilient amid the ongoing trade war between China and the US. How large is the impact of US tariffs on Chinese economy What is the future of China's economy Global Times GT reporters Xie Wenting and Bai Yunyi interviewed Li Daokui Li dean of the Institute for China's Economic Practice and Thinking of Tsinghua University, on these issues. This is reflected in the stock market. Because many Chinese exporting enterprises have been mentally prepared and accelerated exports last year. But specifically, on the real economy, I think the impact will be relatively limited. (news.financializer.com). As reported in the news.

hunt bargains: It sagged 13.32 points Monday, according to The Japan Times. The market opened moderately higher as investors moved to hunt bargains in the wake of recent drops, brokers said. The benchmark index dropped 2.34 points, or 0.01 percent, to end at 20,408.54 after losing 190.31 points Monday. ; Meanwhile, the Topix, which covers all first-section issues on the Tokyo Stock Exchange, closed 0.13 of a point, or 0.01 percent, higher at 1,499.09 to mark the first rise in five sessions. But this soon lost its vigor, with sentiment dampened by weaker Shanghai shares and the dollar's fall below 108, sending both the Nikkei and Topix into negative territory, brokers said. The afternoon resilience could also be attributed to what appeared to be purchases of exchange-traded funds by the Bank of Japan, said Ryuta Otsuka, strategist at the investment information department of Toyo Securities Co. In the afternoon, stocks pared their losses thanks to a pause in the yen's strengthening and accelerated buybacks of beaten-down issues, they said. (news.financializer.com). As reported in the news.

apple: Apple announced Monday that iTunes will be replaced by a trio of desktop apps called Music, TV and Podcasts -- similar to how these services are already divided on iPhones and iPads, according to CNN. It will still exist as a standalone iOS app and on Windows PCs. So Apple is phasing out iTunes in favor of three more modern apps. Previous purchases and libraries will be maintained in each new app on Mac computers, a spokesperson told CNN Business. But the move to phase out iTunes didn't come as a total surprise as the company has been pushing users toward its Apple Music subscription service. At its Worldwide Developer Conference in San Jose, Apple AAPL showed off its next-generation mobile software iOS 13, which got a dark mode, improved Siri capabilites and an undo gesture, as well as a new Mac Pro that looks like a cheese grater. (news.financializer.com). As reported in the news.

company: Valiant Capital Management Lp who had been investing in Apple Inc for a number of months, seems to be less bullish one the 819.71B market cap company, according to MSNBC. The stock increased 2.80% or 4.85 during the last trading session, reaching 178.15. The hedge fund held 168,625 shares of the computer manufacturing company at the end of 2018Q4, valued at 26.60 million, down from 246,425 at the end of the previous reported quarter. About 10.63 million shares traded. AAPL has risen 0.49% since June 4, 2018 and is uptrending. Apple Inc. (news.financializer.com). As reported in the news.

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investors: Thousands of mum and dad investors were financially wiped out when the publicly listed company failed in January 2008, according to Nine News Australia. Octaviar's former chief financial officer, David Mark Anderson, faced Southport Magistrates Court yesterday charged with 26 counts of fraud following an Australian Securities and Investments Commission investigation. To improve your experience update it here Cricket World Cup Australia v West Indies News National Gold Coast financier charged with 4.6 million fraud after Octaviar collapse By AAP3 24pm Jun 4, 2019 Facebook Tweet Mail The former financial boss of Octaviar has been accused of misappropriating 4.6 million from the Gold Coast investment group that collapsed owing 2.5 billion more than 10 years ago. ASIC alleges that between June 18, 2012 and September 21, 2015, while Anderson was a director, he dishonestly used 4,611,571.86 of the company's money for himself. A court ruled in 2016 that Anderson was one of four MFS executives who acted dishonestly by misappropriating 143.5 million of investors' money. Octaviar, formerly known as the MFS Group, had interests in financial services, travel and leisure and childcare businesses, based on the Gold Coast. (news.financializer.com). As reported in the news.