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

trade deal: The blows to diplomatic relations between the two countries follow the collapse of trade talks last month, according to CNN. Trade negotiations have been indefinitely suspended since President Donald Trumpescalated tariffs on all Chinese imports over Beijing's failure to keep previously held commitments as part of a trade deal. Beijing has advised its citizens in recent days not to visit or study in the United States, potentially hitting universities and tourist destinations, and it admonished remarks this week by Secretary of State Mike Pompeo commemorating the 30th anniversary of the Tiananmen Square massacre. China has responded with its own set of penalties on US goods, which went into effect last week. Now he's trying to break the laws of economic gravity. Trump defied the laws of politics. (news.financializer.com). As reported in the news.

neighbouring table: Meghan Markle had helped to launch a bestselling charity cookbook with the women who volunteered there each day, according to The Guardian. The kitchen may have become a byword for resilience and compassion, but that lunchtime Thomson, 55, a quietly spoken and bright-eyed presence, was listening to a conversation at a neighbouring table and feeling that something was not quite right. After the fire at Grenfell Tower half a mile away in June 2017, the basement kitchen had become recognised as the heartbeat of the local community, as it tried to cope with the ongoing aftershocks of the tragedy in which 72 people died. A woman bereaved in the Grenfell fire was sobbing and her friends, sitting with her, though sympathetic, were insisting she dry her eyes, saying that the time for tears had passed. One of the regular attendees, who lost her home in the shadow of Grenfell and still lives in a hotel, explained to me how it had been considered taboo among some women to admit to psychological problems in the two years since the fire. Thomson, who had been counselling some of the bereaved, was prompted by watching that exchange to offer a new type of group therapy at the mosque, the basic message of which was that it was OK for Muslim women to cry in public . The group of about 30 women who started to come along, all directly or indirectly traumatised by the fire, has now met every Friday for six months. (news.financializer.com). As reported in the news.

trump administration: Any G-20 talks between the U.S. and China presidents would only lay the groundwork, according to Xinhua China. Politicsread more That big 'Trump bump' in manufacturing is pretty much gone now Manufacturing had been a big winner during the Trump administration, but the surge appears to have stalled and tariffs could be partly to blame. Politicsread more Commerce Secretary Wilbur Ross predicts Trump and China will... Wilbur Ross warns trade deals are not made at summits. Economyread moreGOP firm ramps up digital fundraising in 2020 House election push Republicans want to improve their digital fundraising if they want to take back the House in 2020, so a firm run by an alumnus of Mitt Romney's 2012 presidential campaign is... Politicsread more These under-the-radar retail winners are the names to own, say... After a terrible May, retail stocks have started June on strong footing. Trading Nationread more Dow set to rise for a seventh day, futures up triple digitsU.S. stock index futures rose on Tuesday, boosted by gains in tech, as a resolution between Mexico and the U.S. to avoid tariffs and hopes of lower interest rates from the...US Marketsread more More China tariffs could push the US into a 'Trump recession,'... The U.S. economy may be pushed into a Trump recession if Washington imposes tariffs on an additional 300 billion worth of Chinese goods, Gary Shapiro of the Consumer... World Economyread more Amazon is descending on New York with another one of its... Amazon on Tuesday is opening a cashier-free Amazon Go location at 300 Park Avenue, in the Midtown area of Manhattan. Ari Wald says to be selective, and Boris Schlossberg says to steer clear of e-commerce names. (news.financializer.com). As reported in the news.

two-pillar approach: The proposal is designed with digital companies in mind, but also has major implications for traditional multinational corporations, according to CNN. We welcome the recent progress on addressing the tax challenges arising from digitalization and endorse the ambitious work program that consists of a two-pillar approach, the ministers said in a statement Sunday. G20 finance ministers discussed a plan developed by the Organization for Economic Cooperation and Development during a meeting on Saturday in Japan. We will redouble our efforts for a consensus-based solution with a final report by 2020. Sounds like we have a strong consensus so now we need to just take the consensus that's across here and deal with the technicalities of how we turn this into an agreement, he said. US Treasury Secretary Steven Mnuchin, speaking earlier at the meeting, said there was broad support for the plan but more work needed to be done. (news.financializer.com). As reported in the news.

winners: As time went by, picking winners became more difficult and some of Woodford's growth stocks turned out to be duds, according to The Guardian. A few eyebrows were raised. His record of picking winners was such that money flowed like torrents into his funds. Eventually, as investors started to contemplate big losses, many of them asked for their money back. Or, to put it in old-fashioned terms, capital controls were imposed. The demands for redemptions became so great that trading in Woodford's flagship fund was suspended for 28 days. (news.financializer.com). As reported in the news.

climate change: We will get deeply involved in elections around the country because climate change is now first and foremost a political problem, he said, according to The Japan Times. At least for the foreseeable future, winning the battle against climate change will depend less on scientific advancement and more on political activism, Bloomberg told the graduates of the prestigious university. The former New York mayor and philanthropist said the money will go toward closing coal plants through lobbying state and local governments and utility commissions and helping elect politicians who make battling climate change a priority. ; Bloomberg, in a commencement speech at the Massachusetts Institute of Technology MIT took aim at climate change skeptics in the administration of U.S. President Donald Trump. We will defeat at the voting booth those who try to block action, he said. Our lives and our children's lives depend on it. Our message to elected officials will be simple face reality on climate change, or face the music on Election Day. (news.financializer.com). As reported in the news.

energy industry: Authorities should be vigilant about this, according to Global Times China. With China gradually scaling back subsidies for electric vehicles and their manufacturers, the development of hydrogen-powered cars has become a new hot spot for investment in the new energy industry. While there are companies with real R&D and innovation capabilities among them, there are also companies that aim to gain government support through fiscal subsidies and financing under the guise of innovation. According to statistics from the Society of Automotive Engineers of China, investment and planned investment for the domestic hydrogen fuel cell industry exceeded 85 billion yuan 12.31 billion in 2018. Yet this industrial enthusiasm also led to the recent farce surrounding the so-called water-hydrogen engine, which struck a blow to the development of hydrogen-powered vehicles. Since the beginning of this year, East China's Shandong Province, Northeast China's Jilin Province, and cities like Chengdu, capital of Southwest China's Sichuan Province, have rolled out plans to develop hydrogen valleys or hydrogen cities, while North China's Shanxi Province, East China's Zhejiang Province and other regions have issued hydrogen energy industry plans to enhance support for relevant industrial chains. (news.financializer.com). As reported in the news.

equity strategist: Value investing is a strategy whereby investors look for stocks that are underpriced relative to a fundamental analysis of the companies worth, and one that was made famous by Berkshire Hathaway chief executive Warren Buffett, according to Market Watch. While value investing helped make Buffett the third richest man in the world, it's been a losing strategy since the financial crisis, when stock markets have been driven more by macroeconomic events than company fundamentals, and dominated by fast-growing, technologically innovative companies like Netflix Inc. That's according to an analysis by J.P. Morgan's chief U.S. equity strategist, Dubravko Lakos-Bujas, who wrote in a Thursday note to clients that value is currently trading at the biggest discount ever, and offers the largest premium over the last 30 years. NFLX, 1.05% and Amazon Inc. After a decade when such growth stocks have outperformed their cheaper rivals, the median forward price-to-earnings ratio of the cheapest portfolio of S&P 500 SPX, 1.05% stocks is now trading at 7 times less than the broader to the S&P 500. AMZN, 2.83% with sky-high valuations that value investors typically avoid. (news.financializer.com). As reported in the news.

gas uranium: This news produced a political shock not only to Kazakhstan, but also caused some concern in major countries in the world, according to Global Times China. The news of the decision of the Kazakh leader made headlines in major publications throughout the world. In March, Nursultan Nazarbayev, who led the country after its independence in 1991, announced his resignation. And one can only guess how many experts in different world capitals are now trying to predict who will lead the country after Nazarbayev's departure. Political parties and public associations are campaigning in favor of their candidates for the presidency. Indeed, due to its geographical location and huge reserves of oil, gas and uranium, Kazakhstan is an extremely important political and economic player in the world arena. (news.financializer.com). As reported in the news.

interest rates: While that could make it harder for workers looking for a paycheck, the immediate reaction was bullish for debt-laden companies, according to Market Watch. Corporate debt rated below investment-grade, or so-called junk bonds, have made significant gains this week on surging expectations that the Federal Reserve will cut interest rates to help give steam to an economy shadowed by the prospects for a global trade war. The number of new jobs created in May reached only 75,000, well below expectations for a gain of 185,000 predicted by economists. Against this tense backdrop, the weaker-than-expected jobs report could energize bets for easier Fed policy and help bonds from leveraged issuers retrace lost ground. With the equity markets and high-yield ETFs up today, that would back the impression that the market expects the Fed to cut. This was one of the most anticipated jobs reports in quite awhile, said Matthew Kennedy, a senior portfolio manager at Angel Oak Capital Advisors. (news.financializer.com). As reported in the news.

climate: Bernie Sanders', I-Vt., Green New Deal, many 2020 presidential candidates have released their own proposals to tackle the issue of climate change. author type Person name Julia Musto publisher type Organization name Fox News logo type Image Object url width 133, height 60 image type Image Object url ve 1&tl 1 width 696, height 392 context http //schema.org/ type Web Page name Where do 2020 Democrats stand on the Green New Deal, climate change speakable type .head1 .speakable url , according to MSNBC. Alexandria Ocasio-Cortez, D-N.Y., and Sen. (news.financializer.com). As reported in the news.

climate: There's always changes that take place, Pompeo said during an interview with the Washington Times published Friday, when asked whether he thought climate change was man-made and how best to address it, according to CNN. He did not mention anything about man-made pollution in his remarks. The climate's been changing a long time. Societies reorganize, we move to different places, we develop technology and innovation, he added. When asked about a potential technological solution, Pompeo replied that it's not just technological and cited the Netherlands, which are partially below sea level, as an example of a successful response. I am convinced, I am convinced that we will do the things necessary as the climate changes. (news.financializer.com). As reported in the news.

engineering innovation: Since leaving BP, he has written five books; in the latest, he argues that engineers will save humanity from the threats such as disease, artificial intelligence and global warming, according to The Guardian. You say that civilisation is founded on engineering innovation and technology. In 2015, he returned to the global oil business as executive chairman of L1 Energy. Do you equate human progress with machines Absolutely not. Without engineering, there will not be progress, but machines without humans will go nowhere. It is the combination of the machines, the engineering and humans that makes progress. (news.financializer.com). As reported in the news.

trade friction: Haruhiko Kuroda. ; Still, trade friction is an unpredictable factor that might drag down growth, although the global economy will likely regain momentum in the second half of the year, Kuroda told reporters, according to The Japan Times. We will discuss the current situation of the global economy and its outlook and what to do if something happens, Kuroda said Saturday. The meeting came as U.S. President Donald Trump announced that he was calling off planned tariffs on imports from Mexico after reaching a deal on migration, a decision that was welcomed by Bank of Japan Gov. I think calling off the tariffs is not only good for the United States and Mexico, but also it is positive for the global economy, Kuroda added. As the chair country, Japan aims to lead discussions to explore risks for the world economy and specific programs to strengthen growth during the meeting among finance ministers and central bank governors. Trump planned to put a levy on Mexican goods from Monday but Mexico apparently agreed to implement strong measures to control the number of migrants illegally crossing the border and entering the United States. (news.financializer.com). As reported in the news.

know-your-customer process: The SEC alleges that Kik did not do enough to determine whether all investors qualified as accredited investors, despite a know-your-customer process and other anti-money-laundering policies, according to Market Watch. It also allegedly did not determine whether investors intended to profit from their purchase or to immediately resell and distribute the digital coin. The SEC sued a Canadian social-media messaging company on Tuesday, charging Kik Interactive with raising 100 million without registering the offering of securities with the regulator. The SEC says it should have excluded retail purchasers of the token who intended to speculate on the value of its token, Kin. Form D is the notice filed by a company for an offering that is exempt from full SEC registration requirements. Kik used what's called a Form D offering to reach investors initially in late 2017. (news.financializer.com). As reported in the news.

strip lights: Why Silence swallowed the damp living room, according to The Independent. Maryam Mahmud, under the cool glow of fluorescent strip lights, cleared her throat and shared her story. It has left us here to rot. Seventy-one years ago the Palestinian refugee arrived as a baby at the Bourj al-Barajneh camp in Lebanon. Since the Arab-Israeli conflict in 1948 which resulted in many Palestinians being evicted from their land UN agencies have registered 470,000 refugees in 12 camps across Lebanon. She described this lifetime spent incarcerated in a slum as humiliating. (news.financializer.com). As reported in the news.

film: Some Bollywood films, like Dangal and Secret Superstar, have done extremely well in China, but many others failed very badly, according to Global Times China. A newcomer on the list is the Bollywood hit Kaabil, starring Hirthik Roshan and Yami Gautam, which only earned 14.1 million yuan 2.04 million as of Saturday morning. It is true in everywhere, and China is no exception. With a respectable opening on Wednesday night of nearly 3 million yuan, the movie didn't live up to expectations, with Thursday and Friday grabbing only 4 million yuan each day. Our Indian friends found that the complete rejection of the film is surprising, considering the film's leading man Hrithik Roshan flew to China along with his leading lady Yami Gautam to promote the film. Its poor performance in the Chinese market has been widely reported by Indian media like Hindustan Times and Bollywood Hungama. (news.financializer.com). As reported in the news.

trading partners: Analysts have warned the trade fights could undermine the economy, which will celebrate 10 years of expansion next month, the longest on record. ; Adding a sting to the closely watched employment report, far fewer jobs were created in March and April than previously reported, indicating that hiring had shifted into a lower gear, according to The Japan Times. The labor market thus far has been largely resilient to the trade war with China. The broad cool-off in hiring reported by the Labor Department on Friday was before a recent escalation in trade tensions between the United States and two of its major trading partners, China and Mexico. Today's report makes a cut more likely, and supports our view that the trade tensions will ultimately slow growth enough for the Fed to respond in September and December with cuts, said Joseph Song, an economist at Bank of America Merrill Lynch in New York. It was the second time this year that job gains dropped below 100,000. Nonfarm payrolls increased by 75,000 jobs last month, the government said. (news.financializer.com). As reported in the news.

numbers: Speaking to Hayes, Reich cited the May job numbers released by the U.S. Department of Labor, which said 75,000 jobs were added in the country during the month, according to MSNBC. The numbers, which are often revised after they are initially released, fell short of predictions from economists in a Bloomberg report. 75,000 new jobs is really bad. Robert Reich, who served as Labor Secretary for former President Bill Clinton, made the statements during an appearance on MSNBC's All In with Chris Hayes. You need 125,000 new jobs just to keep up with the increase in the labor force. There is a slowdown, there's no question about that. And relative to where we have been in this recovery that starts in 2009, it's a very bad jobs report overall, Reich said. (news.financializer.com). As reported in the news.

ooo kilos: In a recently published development plan Venezuela set the goal to produce more than 80,ooo kilos of gold a year by 2025, according to The Guardian. Venezuela crisis threatens disease epidemic across continent - experts Read more The project, launched in February 2016, was supposed to drive development, but many mining projects announced by the government have failed to materialize, and the mining arc seems now seems little more than a legal veneer for plunder by an expanding range of armed groups. Venezuela claims to possess some of the largest untapped gold and coltan reserves in the world, and the country's gold rush picked up when the president decreed the creation of a massive area of 112,000 sq km destined for mining, known as the Orinoco mining arc. Multiple non-state armed groups are spreading their hold over southern Venezuela, adding another unpredictable factor to the country's current crisis and complicating any efforts for a peaceful resolution. Venezuelan crime syndicates have run informal mines for years. Their methods and origins may be different, but their motivation is one which has driven violence in Latin America since colonial times a hunger for gold and other valuable minerals. (news.financializer.com). As reported in the news.

petersburg: Petersburg International Economic Forum this week His bosom friend, Russian President Vladimir Putin, according to CNN. Petersburg, Russia CNN Chinese President Xi Jinping had the ultimate tour guide on his visit to the St. (news.financializer.com). As reported in the news.

petra team: Also, a visit to Mark Kriskis favorite New York-style pizza joint in L.A. 8 p.m, according to MSNBC. CWDr. Next, it's empanadas for breakfast. Jeff Rocky Mountain Vet In this new episode, Mel and her daughter rescue a baby squirrel, and Dr. Petra team up to save a cat hit by a car. 8 p.m. Jeff and Dr. (news.financializer.com). As reported in the news.

trade talks: If not, as the President said, we'll move on with tariffs, according to CNN. Mnuchin, in his remarks reported by the newspaper, said he blamed Chinese officials for the collapse of trade talks with the US last month. If they want to come back to the table and complete the deal on the terms that we were continuing to negotiate, that would be great, Mnuchin said, according to the Times. Trade negotiations have been indefinitely suspended since President Donald Trump escalated tariffs on all Chinese imports over Beijing's failure to keep previously held commitments as part of a trade deal. China finds new ways to pressure Trump amid trade impasse There's no question where we are now, that this is a result of them backtracking on significant commitments, Mnuchin said. China has responded with its own set of penalties on US goods, which went into effect last week. (news.financializer.com). As reported in the news.

consumer spending: The latest assessment comes at a sensitive time, with the government planning to raise the consumption tax rate in October to 10 percent from 8 percent, a move that could dampen consumer spending, according to The Japan Times. The government has said it will go ahead with the tax increase unless the world's third-largest economy faces a shock on the scale of the financial crisis triggered by the 2008 collapse of U.S. investment bank Lehman Brothers Holdings Inc. The office said its coincident index of business conditions for April climbed 0.8 point from the previous month to 101.9 against the 2015 base of 100, amid a recovery in domestic demand and exports of automobiles and motorcycles. ; The figures related to manufacturing components are rising but they were not enough for the government to upgrade the assessment, a Cabinet Office official told reporters. Last month, the Cabinet Office downgraded its economic assessment to worsening for the first time in over six years, signaling that the economy is heading into recession. The move raised doubts among economists about the government's assertion that the country's growth from December 2012 had likely surpassed the Izanami Boom, a 73-month streak from 2002 to 2008. In January, the office lowered its evaluation from weakening to signaling a possible turning point. (news.financializer.com). As reported in the news.

dollar weakness: Gold does well in a period of dollar weakness, inflation and economic uncertainty, says Peter Schiff, chief global strategist for Euro Pacific Capital, a division of Alliance Global Partners, according to Market Watch. We are about to get all three. All the factors for the metal to rally to record levels might finally be falling into place. Gold prices were held back by expectations that the Federal Reserve's monetary tightening cycle would continue for years, argues Schiff. Read on Barron's How gold could stage a 20% rally this year In Schiff's view, the economy is approaching a severe recession that will prompt the central bank to launch another round of quantitative easing, or asset buying, to drive down interest rates. Everyone now recognizes that the Fed is done tightening and that the bias is in the other direction, but few understand just how far and how fast the Fed will have to loosen monetary policy in the coming months, he adds. (news.financializer.com). As reported in the news.

dow jones: The Nasdaq Composite Index COMP, 1.66% advanced 126.55 points to 7,742.1, a gain of 1.7%. On Thursday, the Dow rose 181.10 points, or 0.7%, at 25,720.66, representing its longest string of gains since March 18, according to Dow Jones Market Data, according to Market Watch. The S&P meanwhile, rose 17.34 points, or 0.6% to 2,843.49, while the Nasdaq added 40.08 points, or 0.5%, to reach 7,615.55. Read For stocks, bad news is good news once again How did the benchmarks perform The Dow Jones Industrial Average DJIA, 1.02% rose 263.28 points, or 1%, to 25,983.94, while the S&P 500 index SPX, 1.05% gained 29.85 points, or 1.1%, at 2,873.34. For the week, the Dow gained 4.7%, the S&P 500 returned 4.4%, while the Nasdaq climbed 3.9%. The Dow and S&P 500 had their best weekly showing since late November, while it was the Nasdaq's best performance since the week ended Dec. 28, according to Fact Set data. Estimated job gains for both March and April were cut by a total 75,000, and the three-month moving average of monthly job gains has fallen from 245,000 in January to 151,000 today. What drove the market The U.S. economy added 75,000 new jobs in May, while the unemployment rate held steady at 3.6%, the Labor Department said Friday, far below the 185,000 estimated by economists, per a Market Watch poll. (news.financializer.com). As reported in the news.