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

bailout plan: Meanwhile, Oasis Management Co. of Hong Kong has stepped forward as a potential new sponsor, telling the Japanese company that it will make a final decision by Thursday as well, according to The Japan Times. Touch panel-maker TPK left the group citing changes in circumstances, but the reason for the withdrawal of CGL Group was not disclosed. The exit by CGL Group follows the departure of Taiwan's TPK Holding Co. last week from the consortium that was supposed to offer a capital injection of up to 80 billion 748 million to the Apple Inc. supplier. ; China's Harvest Tech Investment Management Co., the only remaining member of the consortium that agreed on the bailout plan in April, has notified Japan Display that it will finalize a decision on financial aid by Thursday. The decisions apparently reflect Japan Display's business performance, which is deteriorating more than expected. It also said some domestic as well as other overseas companies have shown an interest in investing, without naming them. The maker of display panels reiterated there is no change to the capital injection amount of up to 80 billion. (news.financializer.com). As reported in the news.

china-africa cooperation: Photo Li Ruohan/GT Cooperation with China is beneficial and yields visible results that empower African countries to realize sustainable growth, amid the challenges of unilateralism and protectionism, senior officials said on Tuesday, according to Global Times China. The remarks were made by Chinese and African ministers gathered in Beijing for the Coordinators' Meeting on the Implementation of the Follow-up Actions of the Beijing Summit of Forum on China-Africa Cooperation FOCAC from Monday to Tuesday. Photo IC Ministers from China and African countries attend the opening ceremony of Coordinators' Meeting on the Implementation of the Follow-up Actions of the Beijing Summit of Forum on China-Africa Cooperation on Tuesday. More than 80 African ministerial-level officials attended the meeting. Xi said he hopes the two sides will use the meeting as an opportunity to make solid progress in pushing for the implementation of the FOCAC Beijing Summit's achievements and to constantly improve the welfare of 2.6 billion people in China and Africa. In a congratulatory letter to the meeting of the FOCAC, Chinese President Xi Jinping said that the 2018 Beijing Summit of the FOCAC was a milestone in the history of China-Africa relations, the Xinhua News Agency reported. (news.financializer.com). As reported in the news.

interest rates: The core economy and jobs market appear strong, but signs of slowing in manufacturing and labor are driving interest rates lower, according to The Independent. President Trump is dug in in his trade war with China, and at the same time bashing the institution he expects will step in to insulate the economy from the fallout.A day after he lashed out against the Federal Reserve on Twitter, The Hill reported the president says he has the power to remove the Fed chief if I wanted to. The Dow INDU is just 99 points shy of a closing high in an environment swirling with conflicting catalysts. His war with the independent Fed has some concerned that he is changing the way the Fed operates and polluting what should be a politics-free decision-making. My guess is he remains diplomatic. Read More The Fed chief has the chance to respond in a public appearance today. (news.financializer.com). As reported in the news.

duchy: The heir to the throne's annual income from the duchy is 21.6m, down just over 100,000 on the previous financial year, according to The Independent. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 We'll tell you what's true. The Duchy of Cornwall s assets, a portfolio of land, property and investments which provide an income for Prince Charles, have risen 33m to 1,099,748,000 in 2018-2019. You can form your own view. Subscribe now Although the income generated by Prince Charles fell slightly, the Duchy still expects to achieve its target of 2.6 per cent annualised growth over the five-year period to March 2020. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

chinese stocks: The euro was at 1.1388, up from 1.1376, and at 121.89, down from 122.19. ; The dollar moved in a narrow range around 107.30 in early trading, as investors took a wait-and-see stance ahead of the expected start of Japan-U.S. ministerial trade talks on Tuesday, traders said, according to The Japan Times. The greenback gradually lost ground later in the morning, hit by selling from Japanese importers, traders said. At 5 p.m. the dollar stood at 107.03, down from 107.40 at the same time Monday. Additional U.S. sanctions against Iran and sharply lower Chinese stocks also weighed on the dollar-yen rate, market sources said. After the selling ran its course, the dollar showed some resilience and moved around 107 in late trades. The dollar fell below 107 in the early afternoon, as a risk-averse mood grew following a Bloomberg report that Trump recently mused to confidants about the United States withdrawing from its security treaty with Japan. (news.financializer.com). As reported in the news.

environment agency: In addition, Ofwat found that Southern Water manipulated its wastewater sampling process, which helped it mask the poor performance of a number of sewage treatment sites and avoid penalties, according to The Independent. The Environment Agency is also investigating Southern Water and expects to start court proceedings soon. Water regulator Ofwat discovered wastewater spills into the environment caused by faulty equipment and a lack of necessary investment by the company. 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. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. You can form your own view. (news.financializer.com). As reported in the news.

investors: Investors commanded 11.3% of all purchases in 2018, according to Core Logic, a real estate data company responsible for the report, according to Market Watch. That's the highest level since 1999, and even dwarfs activity between 2012 and 2014, when the housing market was still mired in distress and big financial institutions with deep pockets swooped in. More homes are being bought by investors, and their purchases are concentrated among starter homes, making it even harder for first-time buyers to break in to the housing market, according to a new analysis. Read Four years, 13 million and dozens of hands How affordable housing' gets made in America For starter homes, investors account for one in five transactions, Core Logic said. Large investors' share has declined from 24.3% in 2013, the aftermath of the crisis, to 15.8% last year. What's notable about recent activity is that smaller investors, not big financial institutions, are driving the uptick. (news.financializer.com). As reported in the news.

customers: The company's 4.2 million customers will each receive 61 off their bills 17 in 2020-21 and 11 in each of the following four years, according to The Guardian. The Environment Agency said it was continuing to pursue a criminal investigation into Southern Water that began in 2016. The package imposed by the water regulator includes compensation of 123m to customers over five years and a 3m fine. The environmental aspect of the investigation is ongoing and we expect to commence court proceedings soon. It also found that the company, which operates in Kent, Sussex, Hampshire and the Isle of Wight, manipulated its wastewater sampling process and misreported the performance of several sewage treatment sites. Ofwat found Southern Water failed to operate a number of sewage treatment works properly, including by making insufficient investment, which led to equipment failures and spills of wastewater. (news.financializer.com). As reported in the news.

al-muhajer: The leader, Abu Osama al-Muhajer, as well as other members of the organisation including its chief financial officer, were captured on June 3 in a raid on a house carried out by Saudi and Yemeni forces, the coalition said in a statement published on Saudi state news agency SPA. Weapons, ammunition and telecommunication devices were also seized during the 10-minute operation, according to Nine News Australia. An image from Saudi Foreign Ministry purportedly shows Islamic State extremists who were captured by special forces during 10-minute raid in Yemen. To improve your experience update it here News World Saudi special forces capture an Islamic State leader in Yemen raid By 9News Staff8 09am Jun 26, special forces have captured the leader of the Yemeni branch of the Islamic State militant group in a daring 10-minute raid, according to the Saudi-led military coalition fighting in Yemen. KSA Foreign Ministry The statement said there were no injuries to civilians, including three women and three children who were inside the house. According to The Washington Post, unnamed US sources said US Special Forces were also involved in the raid in an advisory role, and had helped provide intelligence. The operation is considered a significant blow to the terrorist group Daesh Islamic State especially in Yemen, the coalition said. (news.financializer.com). As reported in the news.

biden: Here, Breitbart News breaks down the immigration stances among former Vice President Joe Biden, Sen, according to MSNBC. Bernie Sanders I-VT and Sen. From slogans like Diversity is our strength to claims that the U.S. is a nation of immigrants, the top three Democrat candidates largely agree on wanting to expand rights to all illegal aliens, driving more legal immigration to the country beyond the current annual total of about 1.2 million, and denouncing President Trump's high-wage, low-immigration economic model. Elizabeth Warren D-MA before they hit the debate stage this week Joe Biden In a Miami Herald op-ed this week, Biden released his blueprint for America's immigration system which begins by declaring that the 3.5 million illegal aliens who are enrolled and eligible for President Obama's Deferred Action for Childhood Arrivals DACA program are Americans. The millions of undocumented people in the United States can only be brought out of the shadows through fair treatment, not ugly threats. We are a nation of laws and a nation of immigrants that starts by recognizing that DREAMers are Americans, and Congress needs to make it official, Biden wrote. (news.financializer.com). As reported in the news.

class action: Law firm Phi Finney McDonald alleges that a significant number of delivery and in-store Domino's workers were paid less than they should have from June 24, 2013 through to January 24, 2018, according to Nine News Australia. The class action alleges that Domino's improperly told its Australian franchisees to pay delivery drivers and in-store workers under the inapplicable employment agreements, Phi Finney McDonald said on a website devoted to the class action. To improve your experience update it here News National Domino's exploited' workers, says ex-employee fronting major lawsuit By Pippa BradshawA Current Affair Staff7 41pm Jun 25, 2019Facebook Tweet MailA class action lawsuit against pizza giant Domino's has sparked anger among former workers, who have learned they were potentially underpaid thousands of dollars. A law firm has launched a class action suit against Domino's. Former employee Riley Gall, who worked for the fast-food giant for two-and-a-half years, is now the face of the class action campaign. A Current Affair Casual workers weren't paid a 25 per cent loading bonus and workers didn't get penalty rates for working after-hours, on weekends or on public holidays, Phi Finney McDonald alleges. (news.financializer.com). As reported in the news.

food production: The urgent need to address the world's sustainability crisis is laid bare in the latest annual report from Generation Investment Management, which was co-founded by Gore and David Blood, a veteran Goldman Sachs investor, in 2004, according to The Guardian. The fund has more than 22bn worth of assets under its management, which it invests in technologies that can improve food production, healthcare and energy provision. The environmentalist and former US vice-president said the world was in the early stages of a sustainability revolution that had the magnitude of the Industrial Revolution and the speed of the digital revolution . The scale of our global challenges has never been clearer, Gore said. We have entered an age of environmental crises and of widening social divides. The report concludes that an environmental breakdown is taking place alongside a fraying of the social and economic fabric . This threatens to create a disruptive economy-wide sustainability crisis. Incremental improvements to address these challenges are no longer enough; our economic system requires a fundamental upgrade to sustainability, Gore said. (news.financializer.com). As reported in the news.

lee rolfe: Bill Lee and Department of Economic and Community Development Commissioner Bob Rolfe who made the announcement with Mitsubishi Motors North America say the headquarters move from Cypress, California, to Franklin, Tennessee, will result in an 18.25 million investment in the region and approximately 200 jobs. ; Lee and Rolfe added that they met with Mitsubishi's global executives last week to convince them to move to Tennessee while in Japan during the Republican governor's first trade mission, according to The Japan Times. It is unclear what financial incentives state officials offered Mitsubishi to move to Tennessee. Tennessee Gov. As we drive toward the future, this is the perfect time for us to move to a new home. Franklin is located just south of Nashville, also known as Music City, and is home to the state's most powerful Republicans, ranging from Gov. While we say farewell to the Golden State with a heavy heart, we're excited to say hello to Music City, Fred Diaz, Mitsubishi Motors North America's president and CEO, said in a statement. (news.financializer.com). As reported in the news.

listing process: Airbnb could be next - and that could make the direct listing process almost mainstream, according to Global Times China. Once free to trade, Slack's shares soon topped 40 apiece - well above the reference price of 26 provided by the New York Stock Exchange on June 19, though that doesn't carry the kind of weight an initial public offering price does. The workplace-messaging service's direct listing turned into a blowout when its shares started trading on Thursday. At 40 a share, the company is valued at an eye-watering 24 billion based on a share count including options and stock awards, more than three times its worth in a private fundraising just a year ago. The negatives are a huge cash burn, a lack of profit and vulnerability to rivals like software titan Microsoft. Slack, which wraps up chat and other functions like sharing spreadsheets, is popular and revenue is growing at a fast clip, nearly doubling to 400 million for the year ended in January. (news.financializer.com). As reported in the news.

news conference: The Nasdaq Composite COMP, 0.32% was off 0.1% at 7,997, according to Market Watch. Investor expectations for the Federal Reserve to deliver a rate cut as early as next month were boosted after last week's policy meeting and Powell's news conference. The Dow Jones Industrial Average DJIA, -0.04% rose 13 points, or less than 0.1%, to 26,740, while the S&P 500 SPX, -0.12% was down less than a point at 2,944. Powell will have the opportunity to affirm or soften those expectations when he speaks at 1 p.m. Shares of Allergan PLC AGN, 0.97% jumped nearly 29% after agreeing to be bought by fellow drugmaker Abb Vie Inc. Eastern at the Council on Foreign Relations in New York. (news.financializer.com). As reported in the news.

transport infrastructure: The forum was held in September 2018, according to Global Times China. China proposed the BRI to promote connectivity. As an active participant in the China-proposed Belt and Road Initiative BRI how does Kenya view the opportunities and benefits the initiative offers What are Kenya's expectations from future bilateral cooperation James W. Macharia Macharia cabinet secretary for the Ministry of Transport Infrastructure, Housing & Urban Development and Public Works in Kenya, shared his opinions with Global Times GT reporter Yu Jincui at the sidelines of the Dialogue between Executives of Chinese Financial Institutions and African Coordinators of the Implementation of the Follow-up Actions of the Beijing Summit of Forum on China-Africa Cooperation. What are the prospects of this initiative in Kenya Why do you think Kenya can become an important pillar of the initiative in Africa Macharia I think our location as a country is very, very strategic with regard to the BRI. We have a natural corridor. This area is called the Northern Corridor where China has helped us build the Standard Gauge Railway, the most successful project in Eastern and Central Africa. We start from the port called Mombasa on the east coast, go toward the west, and border Uganda, and then go right into what we call the Great Lakes and then to the west coast of Africa. (news.financializer.com). As reported in the news.

tuesday note: The key issue now is whether sentiment rises to more than two standard deviations above its rolling average into the euphoric zone this week, as it did in April, according to Market Watch. See chart below . Nomura Caption outside of wrapper for normal article images While Nomura's proprietary gauge of the global mood around equities is on the upswing, the narrative around market sentiment has generally been downbeat. Although markets have been calm, it appears that the appetite for risk is alive and well, said Masanari Takada, quantitative analyst at Nomura, in a Tuesday note. For example, the share of individual investors who expect U.S. stocks to rise over the next six months rose last week but remains at just 29.5%, according to the weekly survey by the American Association of Individual Investors. See We're already in recession, here's what to do, says economist who called last bubble At the moment, most categories of trader appear to be awaiting the outcome of a meeting between President Donald Trump and Chinese leader Xi Jinping that's expected to take place this weekend on the sidelines of the Group of 20 summit in Osaka, Japan, Takada said. Bearish sentiment, expectations that stocks will fall over the next six months, fell 2.1 percentage points to 32.1% above its historical average of 30.5% for the sixth consecutive week. (news.financializer.com). As reported in the news.

rules undertakings: Answering questions from MPs on the Commons Treasury committee, Bailey said Woodford twice breached rules on holding unlisted assets early last year, according to The Guardian. Set by the European Union, the rules undertakings for collectiveinvestment in transferable securities UCITS cap the amount of illiquid assets an investment fund can have at 10%, while the rest must be listed on an approved stock exchange. Andrew Bailey, the chief executive of the Financial Conduct Authority FCA said that although the renowned stock picker had kept within the rules on the percentage of risky assets that could be held in his Woodford Equity Income Fund, he acted on the wrong side of the spirit of them. Having had these two breaches actually they were symptomatic of the fact that they were really sailing close to the wind, Bailey said. At least they should have discussed it with us. They then did something which again is allowed under UCITS but I personally think is the wrong side of the spirit of it. (news.financializer.com). As reported in the news.

health funds: From gift cards worth up to 500 to 120,000 frequent flyer points and six weeks free, private health funds appear to be better at enticing new members than looking after their loyal ones, according to Nine News Australia. From gift cards worth up to 500 to 120,000 frequent flyer points and six weeks free, private health funds appear to be better at enticing new members than looking after their loyal ones. To improve your experience update it here News National The best end of financial year deals from health insurers By Alice Monfries Presenter and Reporter7 42pm Jun 25, the spiralling cost of private health insurance, the dwindling rebate and the growing number of Australians opting out, health funds have pulled out a range of sweeteners to sign up new members before the end of the financial year. AAP And the inducements come as those who don't have adequate cover face being slugged the Medicare Levy Surcharge, adding up to 1.5 per cent to their tax bill. Singles receive 60,000 points. CUA is offering gift cards worth up to 500 for a combined hospital and extras policy while BUPA is offering 120,000 Velocity Frequent Flyer points for couples and families who take up ultimate health cover. (news.financializer.com). As reported in the news.

pence: We need four more years for President Donald Trump, Pence said sparking the crowd to begin chanting those same words, according to MSNBC. It's notable that Pence did this event in Miami on Tuesday because on Wednesday and Thursday in the same city the Democrat candidates for president will have their first debates in the same city. Vice President Mike Pence was headlining the launch of the Trump 2020 presidential campaign event when chanting broke out among what was described by New York Times Miami Bureau Chief Patricia Mazzei as a largely American crowd, Build the wall. In addition to NBC and MSNBC hosting the debates, the Spanish language Telemundo is also co-hosting these first face offs among Democrats. Chants of Build the wall' have broken out at Latinos for a trump event in Miami as Pence talks about border security, Mazzei described. Pence's rollout of the Latino coalition for Trump comes as a prebuttal of sorts to the coming Democrat onslaught on the president in Miami later this week. (news.financializer.com). As reported in the news.

system: Facts First The US has almost never had no debt, according to CNN. It was not even close to debt-free when it created the Interstate Highway System, and the national debt spiked when the military was built up during major wars. Now we allow other countries to steal our wealth, treasure, and jobs - But no more! The USA is doing great, with unlimited upside into the future! His history lesson is largely incorrect. Trump was correct that the Interstate was not financed with debt, but he did not mention where the money came from dedicated taxes. Read More No debt The US has been debt-free just once, in the mid-1830s, when then-president Andrew Jackson had it paid off. Let's go through Trump's tweet step by step. (news.financializer.com). As reported in the news.

trump: In response, Trump fired off an inflammatory swipe on Twitter, warning that some Iranian forces would face obliteration if it attacked any Americans, according to CNN. The blast recalled the President's threat to rain fire and fury on North Korea. Iran reacted furiously on Tuesday to a new set of sanctions imposed by Washington, including on Supreme Leader Ayatollah Ali Khamenei, by accusing the US of suffering a mental disability. That confrontation eventually ceded to negotiations, but there are no signs Iran plans to follow Kim Jong Un's example. Iranian President Hassan Rouhani Tuesday accused the White House of suffering from a mental disability. The administration cranked up economic pressure that is already devastating Iran's economy Monday with the new sanctions also targeting Iran's top military brass and its top diplomat in a manner that casts new doubt over the sincerity of its offer of talks with the Islamic Republic. (news.financializer.com). As reported in the news.

article images: Read The Dow could hit 30,000 faster than you think And, the S&P 500 SPX, -0.95% as of Friday's intraday high, was up 7.7%, putting the broad-market gauge on track to be the sixth best June ever, according to Market Watch. What could possibly go wrong The Odd Stats Twitter TWTR, -2.42% account, in our stat of the day, points to the S&P's action and asks the question Do you really want to join this list Here's what happened the other five times June's been this strong Caption outside of wrapper for normal article images This time it's different Well, in the time-honored tradition of selecting timelines to suit one's narrative, here's a follow-up tweet But, on the other hand, what would happen if SPX manages to close up at least 20% before the end of July In the past, hitting 20% before August has been bullish for the rest of the year as well.7 of the last 9 times it happened, SPX was green from there. The Dow Jones Industrial Average DJIA, -0.67% bolstered by the Fed's return to its easy-money mind-set, is on pace for its best June since 1938. OddStats Odd Stats June 23, 2019 We'll see... for now, those June gains are holding steady. The dollar DXY, 0.08% is dipping and the yield on the 10-year U.S. bond TMUBMUSD10Y, 1.16% is just over 2%. Gold GCQ19, -0.26% is charging ahead once again. The markets The Dow DJIA, -0.67% S&P SPX, -0.95% and Nasdaq COMP, -1.51% are all off to a mostly flat start to the trading week. (news.financializer.com). As reported in the news.

china: In the first five months of this year, China's US dollar-denominated exports to the United Arab Emirates UAE rose by 12.9 percent on a yearly basis, while imports from the UAE rose by 10 percent, customs data showed, according to Global Times China. Overall, China's trade with the UAE rose by 11.9 percent in the period. Some Dubai-based companies are anticipating that the forthcoming Expo 2020 to be held in Dubai will be a chance to boost trade between China and UAE, particularly trade of small commodities. In comparison, China's trade with the US slumped by 14.5 percent year-on-year in the first five months of this year, while trade with Europe rose by 3.9 percent on a yearly basis, customs data showed. The percentage of freight transportation between China and Europe in our total has dropped, while freight between China and emerging markets like the Middle East and Africa has risen significantly. Michael Qu, cargo manager for China at Emirates Sky Cargo, the freight division of Dubai-based airline Emirates, told the Global Times on Monday there's been a change in shipping patterns for his company in the past 10 years. (news.financializer.com). As reported in the news.

market analysts: It has made predicting bitcoin's next move notoriously difficult, though six months of near constant gains have led some market analysts to forecast that its price may still be yet to reach its full potential, 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. In the intervening time, bitcoin s value has swung between highs close to 20,000 and lows south of 4,000, as volatility has come to characterise the cryptocurrency. You can form your own view. Subscribe now The bounce back of bitcoin has been fairly extraordinary, having been at 3,200 not even six months ago, George McDonaugh, CEO of cryptocurrency and blockchain investment firm KR1, told The Independent. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

equities friday: On Friday, the key market gauge fell 204.22 points. ; The Topix index of all first-section issues closed up 1.84 points, or 0.12 percent, at 1,547.74, after losing 14.00 points the previous trading day, according to The Japan Times. The market got off to a weak start following a downturn in U.S. equities Friday caused by the Commerce Department's ban on transactions with a Chinese supercomputer maker and related firms. The 225-issue Nikkei average rose 27.35 points, or 0.13 percent, to close at 21,285.99 on the Tokyo Stock Exchange. Both indexes remained in negative territory for most of the morning session, although they showed some resilience thanks to buying induced by Shanghai stocks' strength and higher U.S. index futures in off-hours trading, brokers said. Wang's comment preceded a meeting between U.S. President Donald Trump and his Chinese counterpart, Xi Jinping, expected on the sidelines of the two-day Group of 20 summit in Osaka from Friday. In the afternoon, the market turned buoyant, albeit modestly, amid renewed expectations for progress in the U.S.-China trade negotiations after a media report cited Chinese Vice Commerce Minister Wang Shouwen as saying talks were ongoing and both Washington and Beijing should compromise. (news.financializer.com). As reported in the news.