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

beijing washington: The agreement has broken the deadlock between China and the US. However, Beijing and Washington still face the arduous task of implementing the consensus reached between the two presidents while overcoming differences during the negotiations, according to Global Times China. During the meeting, Xi and Trump clinched a deal to restart economic and trade consultations between their countries on the basis of equality and mutual respect. Given the fact that the Sino-US trade talks have run hot and cold in the past, opinions are divided over whether the new round of trade talks will successfully do the job. The US side also agreed that it will not add new tariffs on imports from China. It is not a big surprise for Xi and Trump to reach such an agreement. These deals add new possibilities to end the year-long trade dispute between the world's two largest economies that has been deadlocked since May. (news.financializer.com). As reported in the news.

business environment: It is encouraging to see that China, the world's second largest economy, has reaffirmed its determination to push forward inclusive economic development and defend the multilateral trading system, according to Global Times China. Actions always speak louder than words. At the G20 Osaka summit commencing Friday, China declared its latest pledge that it would further open up its market, proactively expand imports, continuously improve its business environment for foreign enterprises and press ahead with various trade agreement negotiations. Recent years have seen consistent efforts of China to promote openness, support multilateralism and strive for common development. Trade cooperation thrives under the initiative, with bilateral trade volume between China and the countries participating in the B&R Initiative growing 9 percent year on year in the first five months of this year. A case in point is the China-proposed Belt and Road B&R Initiative, under which China has signed cooperation documents with more than 150 countries and international organizations, effectively spurring trade and economic growth, stimulating investment and creating jobs. (news.financializer.com). As reported in the news.

chinese imports: President Trump and Chinese President Xi Jinping reached a cease-fire in their trade battle, after meeting on Saturday in Japan, according to Market Watch. The two sides said bilateral talks would resume and the U.S. would indefinitely shelve plans to levy duties on the roughly 300 billion of Chinese imports that aren't currently covered by 25% tariffs. However, the longer-term outlook depends on what kind of lasting deal can be struck by the two largest economies, and how this could affect interest rates. In addition, Trump said he would let U.S. firms sell high-tech equipment to Huawei Technologies Co. and China would start buying large amounts of American farm products. But it wasn't clear if the two economic giants could eventually reach a longer-term agreement, he said, and a key question for investors was whether Saturday's trade pact made the Federal Reserve less likely to cut interest rates. Vasu Menon, senior investment strategist at OCBC Bank's wealth-management unit in Singapore, said the truce should be a positive in the short term for markets. (news.financializer.com). As reported in the news.

climate change: However, in this year's summit, in many areas, we were able to send out the strong will of the members of the G20 to the whole world, creating a sustainable, future-oriented growth path, Prime Minister Shinzo Abe said in a news conference following the declaration's adoption, according to The Japan Times. Abe, who chaired the G20 session, noted that current trade tensions, especially between the United States and China, were creating worries around the world. In addition, with the United States withdrawing from the 2015 Paris agreement on climate change, the best the G20 leaders could agree to on that front was that the other 19 members would pursue the Paris agreement's goal of keeping the world's temperature rise to 1.5 degrees by the end of the century, and that the United States would merely remain committed to the development and deployment of advanced technologies to continue to reduce emissions and provide for a cleaner environment. ; It is difficult to find a solution, in one stroke, regarding a variety of challenges. The declaration echoed a phrase adopted in the communique of the G20 finance chiefs' meeting earlier this month, noting that trade and geopolitical tensions have intensified, and described the situation as a downside risk to the global economy. There are concerns the post-World War II free trade system may be faltering. At the same time, rapid changes in technology and the spread of globalization are fueling anger and discontent in many parts of the world among people who feel left behind and marginalized by the global trade regime and prefer more protectionist economic policies. (news.financializer.com). As reported in the news.

articles: The views expressed here are hers, according to CNN. Read more opinion articles on CNN. She is currently a graduate student obtaining her MSW in Indianapolis, where she lives with her husband. (news.financializer.com). As reported in the news.

risk: When the priority is building your business, it is all too easy to push pensions aside, according to The Guardian. But the oversight could prove disastrous. But many who work for themselves are at risk of an uncertain old age or in some cases even poverty because they are putting nothing aside for their retirement. Figures show that more than 60% of self-employed workers are not saving in a pension or long-term savings. Alarmingly, three in 10 self-employed people are saving nothing and have little or no safety net should they find themselves unable to work or if their business started to struggle. This compares with about 30% of employees. (news.financializer.com). As reported in the news.

chinese: The U.S. side said it will not add new tariffs on Chinese exports, according to Xinhua China. The two countries' economic and trade negotiating teams will discuss specific issues. Xinhua/Ju Peng Chinese President Xi Jinping and his U.S. counterpart, Donald Trump, agreed here Saturday to restart economic and trade consultations between their countries on the basis of equality and mutual respect. The two leaders met on the sidelines of a summit of the Group of 20 major economies in the Japanese city of Osaka. Chinese President Xi Jinping meets with U.S. President Donald Trump in Osaka, Japan, June 29, 2019. At the beginning of their meeting, Xi said that despite the great changes that have taken place in the international situation and China-U.S. relations during the past 40 years, one basic fact remains unchanged China and the United States both benefit from cooperation and lose in and dialogue are better than friction and confrontation, Xi told Trump. (news.financializer.com). As reported in the news.

jones: A Jefferson County grand jury indicted Marshae Jones, 27, based on her alleged role in starting a fight that led to the gunfire, CNN affiliate WBMA reported, according to CNN. The indictment, however, may or may not lead to prosecution, according to a statement from the Jefferson County District Attorney Bessemer Division's office. This time, the controversy stems from the case of a pregnant woman who was shot in the stomach and is now charged with manslaughter for the death of her unborn child. While the Grand Jury has had its say, our office is in the process of evaluating this case and has not yet made a determination about whether to prosecute it as a manslaughter case, reduce it to a lesser charge or not to prosecute it, Bessemer Cutoff District Attorney Lynneice Washington said. The law firm of White Arnold & Dowd in Birmingham said it is representing Jones. Read More We will announce our decision only after all due diligence has been performed. (news.financializer.com). As reported in the news.

constellation: U.S. traded shares of Canopy Growth CGC, -0.86%WEED, -0.92% fell less than 1% and shares of Constellation STZ, 4.64% rose more than 4% after its earnings, according to Market Watch. Constellation has made a massive bet on the world's largest pot company by market capitalization, investing more than 4 billion in a minority stake in the business. Chief Executive William Newlands said early Friday in the company's earnings conference call that the company was not pleased with the recent fourth-quarter earnings of cannabis producer Canopy Growth Corp. But, Canopy Growth's fourth quarter results disappointed investors and evidently Constellation's CEO as the company's losses mounted and the company sold less cannabis sequentially in the second quarter of recreational cannabis legalization in Canada. While we remain happy with our investment in the cannabis space and its long-term potential, we were not pleased with Canopy's recent reported year-end results, Newlands said in the call. Constellation said it's share of Canopy's losses came to 106 million, or 78.2 million including tax benefits. (news.financializer.com). As reported in the news.

correspondents club: Ghosn, who is preparing for a trial over financial misconduct charges, had been scheduled to speak at 9 p.m, according to The Japan Times. Friday in what would have been his first news conference since his arrest last November. ; The Foreign Correspondents' Club of Japan said in the early afternoon that he would meet the media at the club in Tokyo, but the event was called off in the evening. Chairman Carlos Ghosn abruptly canceled a news conference on Friday, just hours after notifying the media of the plan, due to opposition from his family, one of his lawyers said. Junichiro Hironaka, one of his lawyers, told reporters that his family opposed the plan for him to speak to the media as it could prove disadvantageous to him. He was released for the second time on bail on April 26. Ghosn had also planned to hold a news conference on April 11 after he was granted bail in March but was unable to do so because he was arrested for the fourth time on April 4. (news.financializer.com). As reported in the news.

insider trading: Rat trading is also known as front-running in US and European markets, according to Global Times China. In a typical case, fund managers buy stocks via their own accounts before the financial institutions they work for make large deals and then sell the stocks to make personal gains after the prices rally. A judicial interpretation jointly issued by the country's top court and top procuratorate on Friday made specific stipulations on what qualifies as other undisclosed information in insider trading under the Criminal Law, what violations entail and what counts as severe and extremely severe offenses. Such violations used to be rampant until regulators stepped in to restore market order, and a number of criminal convictions have been meted out since 2017. Among other things, it made knowledge of investment decisions and trading orders part of other undisclosed information, the trading of which is punishable by the Criminal Law. The judicial interpretation issued Friday aims to eliminate legal grey areas for such practices. (news.financializer.com). As reported in the news.

investment plan: In 2018, Toyota produced about 200,000 cars in Indonesia, according to The Japan Times. The company said earlier this month it will move up its target to achieve annual global sales of 5.5 million units of electric and other eco-friendly vehicles by five years to 2025. The planned investment in one of the largest auto markets in Southeast Asia is also meant to prepare the Japanese automaker for future growth in demand for completely electric vehicles, they said. ; Toyota President Akio Toyoda explained his company's investment plan for the country to Indonesian government officials at their meeting earlier in the week, the sources said. The announcement came after Toyota said in late 2017 it would aim for EVs to account for more than half its global sales by around 2030 or about 5.5 million units, including 1 million EVs and vehicles using fuel cell technology, which generates electricity from hydrogen and oxygen. The Nikkei 225 average rocketed 454.05 points, or 2.13 percent, to end at 21,729.97, i... Japan restricts exports of chip and smartphone materials to South Korea The government announced Monday it is tightening regulations on the export of several chemicals used in chip and smartphone production to South Korea amid the row with Seoul over wartime labor. ... /4973089/JT-teads googletag.cmd.push function googletag.display ; ; Twitter Facebook Linked In LATEST BUSINESS STORIESBlue-collar clothier Workman shakes up Japan's stagnant apparel market It's a weekday morning and a steady stream of customers is entering a Workman store in Tokyo's industrial Ota Ward, mostly blue-collar workers looking for 99 rubber gloves, 3,500 saf... Tokyo stocks surge on receding China-U.S. trade war worries Stocks staged a sharp rally Monday as concerns over an escalation in the U.S.-China trade conflict receded. (news.financializer.com). As reported in the news.

unemployment rate: The government on Friday is expected to report the U.S. created a healthy 169,000 new jobs in June, according to a Market Watch survey of economists, according to Market Watch. The unemployment rate is likely to stick to a 49-year low of 3.6%. Caption outside of wrapper for normal article images Read Robots are coming for your jobs Oregon, Louisiana, Texas have most to lose Such an increase would come as a big relief to investors, businesses and households after a paltry 75,000 gain in May. The U.S. is not stumbling toward recession, but another poor jobs report could trigger a chain reaction on Wall Street and in Washington that reshapes how Americans view the economy. President Trump's economic advisors would also breath easier as they gear up for the 2020 election. See Market Watch Economic Calendar Most economists believe hiring is not nearly as weak as it seemed in May. Another subpar report, however, would add to anxieties about the economy, spur the Federal Reserve to cut interest rates in July and give ammo to Trump's Democratic challengers who contend his trade and other policies have failed. (news.financializer.com). As reported in the news.

promise: We promise, you won't break a sweat, according to CNN. See, sometimes we forget to be grateful for our everyday luxuries until someone reminds you what it's like without them! Get your chill on with this week's Good Stuff. (news.financializer.com). As reported in the news.

leaders: Facebook Twitter Pinterest Vladimir Putin and Shinzo Abe Photograph Mikhail Klimentyev/AP Their compromise enabled 19 of the 20 leaders to reaffirm their commitment to the Paris agreement, but left enough room for Washington to attempt to justify its increasing isolation from the global effort to reduce greenhouse gas emissions with a reference to the harm it would inflict on American workers and taxpayers . The frank dialogue Abe craved proved more problematic, however, according to The Guardian. The opening day of the summit was overshadowed by the China-US trade war, the presence of Saudi Arabia's crown prince, Mohammad bin Salman, and for British audiences at least, Theresa May's confrontation with Vladimir Putin over the Salisbury novichok poisonings. The G20 nations, Abe said, have a responsibility to squarely face global problems and to come up with solutions through frank dialogue . Their communique, which had looked in doubt 24 hours earlier as the EU and the US sparred over how to describe the climate crisis, went some way towards meeting his demands. Facebook Twitter Pinterest Theresa May did not attempt to mask her discomfort while shaking hands with Vladimir Putin. It was a theme he returned to on Saturday evening, when he claimed that immigration had infringed on other people's rights, and attributed Trump's 2016 election victory to disenchantment with mainstream liberal ideals. Photograph Reuters Putin had already angered Donald Tusk, among others, by declaring in a Financial Times interview published at the start of the summit that liberalism was obsolete. (news.financializer.com). As reported in the news.

president: Marketsread more Pete Buttigieg raises 24.8 million in the second quarter He's among three 2020 candidates for president, including former Vice President Joe Biden and California Sen, according to Xinhua China. Kamala Harris, who have received the support of top financiers...2020 Electionsread more Buffett is donating 3.6 billion in Berkshire shares to 5... Warren Buffett said he will donate 3.6 billion worth of Berkshire Hathaway shares to five foundations including the Bill & Melinda Gates Foundation. Market Insiderread more Stock futures surge after Trump and Xi agree not to impose more... The U.S. and China agreed to hold off on slapping additional tariffs on their products in an effort to resume trade talks. Marketsread moreA startup that is beating Wall Street is looking for the next... Coming from nowhere a few years ago, 118-person XTX Markets has steadily climbed the ranks of electronic market makers, displacing huge institutions in the process. One semis stock is just getting going, says technician. Financeread more One of the best-performing tech stocks this year could rally... The last time the tech sector had a first half this strong, Bill Clinton was still president. (news.financializer.com). As reported in the news.

senator doesn: Kamala Harris D-Calif. . The apparently bot-aided onslaught is claiming the senator doesn't represent U.S. blacks because her father was born in Jamaica, according to MSNBC. Harris, an American of both Jamaican and Indian descent, was born in Oakland, California. Doug Mataconis Saturday, June 29, 2019 35 comments California Senator Kamala Harris is the latest political candidate to be subjected to a ridiculous and ill-informed claim about her birth, and while this one doesn't allege that she is ineligible to be President at least not yet it does have the same racist tinge to it that similar claims about former President Obama did A new iteration of Donald Trump's racist and fallacious birtherism attack on former President Barack Obama is suddenly surging on social media, this time against Sen. Donald Trump Jr.retweeted the original attack but later deleted it. She tweeted that while Obama is actually African-American Harris is not, even though people of African descent have lived in Jamaica for centuries. Meanwhile, the president's former campaign spokeswoman Katrina Pierson tried to discredit Harris another way, indicating she is not African enough to run as a minority presidential candidate. (news.financializer.com). As reported in the news.

thursday night: The former vice president used his appearance to defend his past positions on race and clear his name after Democrat rival Sen, according to MSNBC. Kamala Harris D-CA questioned his race record directly during Thursday night's Democrat debate. Cory Booker D-NJ took shots at Joe Biden D for what some are describing as another political gaffe during an appearance at Jessie Jackson's Rainbow/Push Coalition Friday. I heard and I listened to and I respect Senator Harris, Biden said. Biden reiterated, as he did during the debate, that he never opposed voluntary busing, although Harris was correct in suggesting that Biden opposed federally mandated public busing. But we all know that 30 seconds and 60 seconds on a debate exchange can't do justice to a lifetime committed to civil rights. (news.financializer.com). As reported in the news.

boris i: I have communicated with them that Japan wouldn't want a no-deal Brexit, according to The Japan Times. So hopefully Brexit could be done through an ordinary and calm way. In an appeal to Boris Johnson and Jeremy Hunt, Foreign Minister Taro Kono said Japan did not want a no-deal Brexit, that some companies were already moving out and that more investment could go. ; I know Boris and I know Jeremy, both of them pretty well, Kono said Thursday in Osaka, where a Group of 20 summit began Friday. Japan has long seen the U.K. as a pro-business, liberal gateway into the rest of the European Union and has around 1,000 companies based in the country, including major carmakers and technology firms. But following the 2016 vote to leave the European Union, some Japanese companies have begun moving business out of the U.K., with particular concern over the impact of a possibly disorderly exit on Oct. 31. Japanese firms have invested over 60 billion in the country. (news.financializer.com). As reported in the news.

bank shareholders: J.P. Morgan Chase JPM, 2.72% Morgan Stanley MS, 0.74% Citigroup C, 2.76% and Wells Fargo WFC, 2.23% all rose, according to Market Watch. All 18 banks past the Federal Reserve stress tests, including Deutsche Bank AG DB, 1.19% which had earlier failed, and many of the largest lenders in the U.S. announced increased payouts to shareholders in the wake of the results. Friday also marks a rebalancing of the FTSE Russell index, of mostly small capitalization stocks, which will occur at the close of trade. The total payouts to bank shareholders from dividends and buybacks will hit 173 billion, a record high amount for the group. The Chinese Ministry of Commerce has called on Washington to cancel its import tariffs and sanctions measures on Huawei and other Chinese companies, while Trump has reiterated a threat to impose tariffs on the remaining 300 billion of Chinese imports if talks fail. Goldman GS, 2.65% raised its dividend by nearly 50%. But Wall Street's gains were restrained as investors awaited the Trump-Xi trade meeting scheduled for Saturday Japan time. (news.financializer.com). As reported in the news.

dow: However, prudent investors ought to be warned about a big flaw in bulls' logic that nobody is talking about, according to Market Watch. Let's explore with the help of a chart. Some are encouraged by the Dow Jones Industrial Average's chart pointing to 32,000 points. Please click here for an annotated chart of the Dow Junes Industrial Average ETF DIA, 0.26% Please note the following The stock market often exhibits symmetry. The chart shows the second stock market target of 32,000. The chart shows the first stock market target of Dow 29,000. (news.financializer.com). As reported in the news.

deputy director: The country will soon release a new negative list for foreign investment, lowering barriers for industries including mining, agriculture, manufacturing and services while further lowering overall tariffs and diminishing non-tariff trade barrier, in line with China's commitment to continuous opening-up and reforms, the Chinese president said while addressing the 14th G20 summit, according to Global Times China. The proposals have shown that China is taking a lead role by proactively promoting domestic reforms to uphold multilateralism and safeguard economic globalization, Bai Ming, deputy director of the Ministry of Commerce s International Market Research Institute, told the Global Times. The announcements that came during the ongoing G20 summit in Osaka, Japan will include lower trade barrier, expansion of import, improvement in the business environment and better treatment for foreign investment in line with the new Foreign Investment Law. These reforms are expected to unite more countries which also share the mission and aim at safeguarding free trade at a time when some country are damaging the process of globalization, Bai added. To expand the overall opening-up and reforms, China will also promote regional economic partnership agreement, accelerate negotiations for China-Europe investment agreement and China-Japan-South Korea Free Trade Agreement FTA the Chinese president added. To further boost the business environment, China will introduce punitive damage system for infringement, strengthen civil judicial protection and criminal protection, and improve the level of intellectual property protection, said Xi. (news.financializer.com). As reported in the news.

market gauge: On Thursday, the key market gauge gained 251.58 points. ; The Topix index of all first-section issues edged down 2.13 points, or 0.14 percent, to close at 1,551.14, after gaining 18.93 points the previous day, according to The Japan Times. The Nikkei stayed in negative territory throughout the session, pressured by profit-taking, the yen's rise against the dollar and a weak performance from Shanghai stocks. The 225-issue Nikkei average fell 62.25 points, or 0.29 percent, to end at 21,275.92 on the Tokyo Stock Exchange. A wait-and-see mood prevailed in the market before the meeting between U.S. President Donald Trump and Chinese counterpart Xi Jinping on Saturday on the sidelines of the Group of 20 summit in Osaka, brokers said. Uncertainty over U.S.-China trade talks kept buying in check, with Trump's economic adviser Larry Kudlow denying a Thursday report in the South China Morning Post that said Washington and Beijing have tentatively agreed to another truce in their trade war, brokers said. Tokyo stocks fell in a negative reaction after the sharp rise the previous day, said Ryuta Otsuka, strategist at the investment information department of Toyo Securities Co. (news.financializer.com). As reported in the news.

aid budget: Fresh from announcing a new target of net zero carbon emissions by 2050 in the face of scepticism from the chancellor, Philip Hammond May will lead a session on the climate emergency at the summit in Japan, according to The Guardian. She will promise that in future, the 14bn overseas aid budget will be spent in a way that contributes to the transition to a low-carbon global economy, and will urge other countries to adopt more ambitious emissions targets. The prime minister has been keen to burnish her green credentials as she enters in her final days in office. The facts, which are clear, should guide us, she will tell her fellow world leaders, including Donald Trump, who has denied many climate science findings. We need a fivefold increase on existing 2030 commitments to remain below 1.5 degrees of warming. We are running out of time to act. (news.financializer.com). As reported in the news.

bargaining chip: Jiangxi, where most of China's heavy rare earths are produced, is considering how to boost the role of state-owned CSRE and encourage high-quality development, the state-run Securities Times added, according to CNN. The report highlights China's willingness to consolidate the industry and strengthen control of rare earths production, which Beijing sees as a powerful bargaining chip in the trade war. Chinese state media reported that the government of Jiangxi province was planning to provide support to China Southern Rare Earth Group CSRE the biggest producer of heavy rare earths to increase its power and gain the upper hand and say in the resource. It comes on the eve of a crucial meeting between President Donald Trump and President Xi Jinping at the G20 summit in Osaka, Japan. Heavy rare earths are vital to the production of smartphones, tablets and smart speakers. Rare earths are 17 minerals with magnetic and conductive properties that help power most electronic devices. (news.financializer.com). As reported in the news.

cyber attacks: With cyber attacks expected to skyrocket with the development of new technologies, it's widely acknowledged the Australian cybersecurity industry is falling short when it comes to manpower, according to Nine News Australia. Owen Pierce, Aust Cyber's Program Director in National Workforce Development, told 9News an estimated 19,000 cybersecurity professionals were needed over the next eight years to fill vacancies in technical areas. To improve your experience update it here News National Experts warn Australia needs to boost cybersecurity workforce as attacks rise By Fiona Willan Political Reporter10 06am Jun 28, cyber experts have warned of the critical need to boost the country's cybersecurity workforce as they turn to high-tech powerhouse Israel for lessons in how to build the crucial industry. Aust Cyber's Owen Pierce has travelled to Israel with other Australian delegates to learn the secrets to the country's cyber success. Business and cyber experts say there's a crucial need to fill workforce shortages in order to tackle growing threats. Or Tsfati Cybersecurity expert Brett Biddington said filling those vacancies would be a major workers are difficult to find, they're difficult to educate... we don't have enough people who are trained in this area, he said. (news.financializer.com). As reported in the news.