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

artists: China, like many other nations, is far too celebrity-obsessed, according to Global Times China. This is especially true of many millennials and Gen Z members who lean on this prestigious group for a collective sense of identity. However, knowing that news of some celebrity receiving greater attention, eye balls and reams of newsprint than useful news is as disappointing as knowing that many celebrities float above the law and common sense. Fandom is fine and normal if professional and competent artists are mollycoddled. The youth need to be aware that artists' skills are to be patted, not their vanity. Looking up to their admirable qualities is like seeking self-development. (news.financializer.com). As reported in the news.

bonds: The bond issuance is in recognition of the 20th anniversary of Macao's return to the motherland, Zou Jiayi, vice finance minister, said at the issuance ceremony held on Friday, according to Global Times China. Zou also said that it will help to support Macao's financial development, enhance its economic and financial ties with the mainland, and allow Macao's economy to be further involved in the international market. The bonds include 1.7 billion yuan worth of three-year institutional notes at 3.05 percent and 300 million yuan worth of two-year bonds at 3.3 percent for local retail investors, according to the ministry. Zou added that retail treasury bonds are a direct way for Macao residents to participate in China's economic development and share in the dividends of China's economic growth. Macao has long relied on the gaming industry, which is its main revenue source. As industry structure in Macao is comparatively singular, the move will provide local investors with more sound and stable investment options, Dong Dengxin, director of the Financial Securities Institute at the Wuhan University of Science and Technology, told the Global Times on Friday. (news.financializer.com). As reported in the news.

gold gcq: August gold GCQ19, 0.08% gave up 20.80, or 1.5%, to settle at 1,400.10 an ounce, after settling at 1,420.90 an ounce on Comex Wednesday, the highest for a most-active contract since May 14, 2013, according to Fact Set Data, according to Market Watch. Regular trading was shut on the Independence Day holiday Thursday. Traders have used the better than expected jobs number to push gold prices lower as expectations of a Federal Reserve interest rate cut in July have diminished somewhat, said Mark O'Byrne, research director at Gold Core. Read Why gold prices have climbed to their highest since 2013 Friday's losses prompted gold to post a loss of 1% for the week, on the heels of two consecutive weeks of gains, according to Fact Set data. That easily beat the 170,000 forecast of economists polled by Market Watch. The U.S. added 224,000 new jobs in June, data showed on Friday. (news.financializer.com). As reported in the news.

interest rate: That rate cut, expected later this month, could now be in doubt setting up a potential clash with Trump, who has lambasted the central bank and loudly called for easier monetary policy, according to The Japan Times. Trump recently likened the Fed to a stubborn child for dragging its feet on a rate cut to boost the economy. After an unexpectedly weak May, the vigorous June rebound should quiet talk of a steep drop-off in economic activity and delight President Donald Trump as he prepares to seek re-election next year. ; But it could disappoint stock markets, which had been banking on an interest rate cut from the Federal Reserve following a batch of soft economic data. The U.S. economy added 224,000 net new jobs last month, smashing forecasts, the Labor Department said in the closely watched report. Employers added workers in construction, financial services, education, business services, transportation and warehousing, following a disappointing May, when job gains slowed to just 72,000. The unemployment rate ticked up to 3.7 percent as more workers stepped off the sidelines to enter the labor force. (news.financializer.com). As reported in the news.

charge: Spacey still faces a criminal charge, according to Nine News Australia. He pleaded not guilty to indecent assault and battery in January. To improve your experience update it here News World Kevin Spacey sex assault accuser drops lawsuit against actor By Associated Press8 42am Jul 6, 2019Facebook Tweet MailA young man who says Kevin Spacey groped him in a Nantucket bar in 2016 has dropped his lawsuit against the Oscar-winning actor. His accuser's lawyer, Mitchell Garabedian, announced in an email that the suit filed June 26 in Nantucket Superior Court has been voluntarily dismissed. AP No reason was provided either by Mr Garabedian or in the court filing. A young man who says Kevin Spacey groped him in a Nantucket bar in 2016 has dropped his lawsuit against the Oscar-winning actor. (news.financializer.com). As reported in the news.

donald trump: Donald Trump has given a tub-thumpingly jingoistic speech as the set-piece of his controversial Salute to America event to mark the 4th of July in Washington, according to The Guardian. Despite concerns that the US president might politicise the independence day celebrations with a partisan address, he steered clear of his usual campaign-rally style and instead chose to run through a litany of American achievements with a heavy bias towards military prowess. This is Martin Farrer bringing you all the stories you need to know about this Friday morning. Trump was accompanied by martial music, flypasts to flout aerial power and the much-promised armoured vehicles in a ceremony costing the National Parks Service a reported 2.5m. Code Pink, an antiwar protest group, staged a demonstration on the mall, complete with the Trump baby blimp balloon. We are one people chasing one dream and one magnificent destiny, he said in an appeal to national unity, which has been rare during his presidency. (news.financializer.com). As reported in the news.

entities list: China Focus Greater visa-free access to benefit China's resort island/ 03, according to Asahi Shimbun. Iran says oil tanker seizure by Britain illegal / 04. China implementing procedures of unreliable entities list with set pace/ 02. Russia dislikes arms race but has to protect itself Putin/ 05. Study finds huge potential to grow trees, capture carbon emissions (news.financializer.com). As reported in the news.

jp morgan: Growing expectations that the Federal Reserve will cut interest rates this year also helped all three major benchmarks to set record closes, according to Market Watch. But JP Morgan has told clients to build up a balanced portfolio as the outcome of the trade dispute between the world's two largest economies remains up in the air. Wall Street closed at record highs on Wednesday ahead of the Fourth of July holiday following a trade war truce between the U.S. and China at the weekend. China Commerce Ministry spokesman Gao Feng confirmed the two nations had restarted negotiations on Thursday but warned existing U.S. tariffs would have to be scrapped for a deal to be struck, signaling the potential hurdles in the talks ahead. A large part of the answer to that dilemma unfortunately lies with what happens with trade where there is very limited visibility, he said. The asset manager's global market strategist Mike Bell said the dilemma for investors was whether prospective rate cuts would extend the economic cycle or be too little too late leading to an economic downturn. (news.financializer.com). As reported in the news.

interest rates: Remember that It was back in the 1980s, when newspaper headlines proclaimed that the grounds of the Tokyo Imperial Palace were worth more than all of the real estate in California. ; Japan's real estate market is peaking out and ready to head down, S&P said, according to The Japan Times. Although the conditions in the office leasing market are solid, there are signs of a slowdown in corporate earnings, particularly among manufacturers. That's the assessment of S&P Global Ratings, which said in a report Friday that the sector's debt levels now eclipse that of the nation's bubble era. In addition, we expect major upticks in central Tokyo office building supply in 2020 and 2023. Although interest rates in Japan have been low for years, domestic lenders have seen their profitability weaken because of shrinking net interest margins. Companies most at risk are Mitsubishi Estate Co., Mitsui Fudosan Co., Sumitomo Realty & Development Co. and Nomura Real Estate Holdings Inc. (news.financializer.com). As reported in the news.

day: The main U.S. stock indexes ended a holiday-shortened session on Wednesday at simultaneous record highs for the first time in 17 months, according to Market Watch. U.S. markets were closed on Thursday for Independence Day. Equities logged weekly gains. How did benchmarks fare The Dow Jones Industrial Average DJIA, -0.16% shed 43.88 points, or 0.2%, to finish at 26,922.12, the S&P 500 index SPX, -0.18% declined 5.41 points, or 0.2%, to close at 2,990.41, while the Nasdaq Composite Index COMP, -0.10% gave up 8.44 points, or 0.1%, ending at 8,161.79. The Nasdaq Composite Index ended the day at an all-time high of 8,170.23, adding 61.14 points, or 0.8%. The trio of equity gauges finished at all-time highs on the same day for the first time since Jan. 26, 2018, according to Dow Jones Market Data. At session lows, the Dow was down 232.67 points or 0.8%, the S&P shed 27.73 points, or 0.9%, while the Nasdaq had retreated as many as 76.57 points, or 0.9%. On Wednesday, the Dow rose 179.32 points, or 0.7%, at 26,966, its first record close since Oct. 3, while the S&P 500 index set its third straight record close, rising 22.81 points, or 0.8% to 2,995.82. (news.financializer.com). As reported in the news.

region: Tourism is recovering and developing rapidly throughout the autonomous region, and performance of tourism is a gauge of local social security conditions, according to Global Times China. Today, Xinjiang experiences peace and development. Photo Cui Meng/GT What is Xinjiang like today At the end of last month, Xinjiang began to operate special tourist trains connecting major scenic spots in the north and south of the region. The region was one step away from the turmoil triggered by terrorist attacks and ethnic and religious conflicts. Both internal and external forces once launched a raid to turn Xinjiang into the new focus of the three evil forces terrorism, extremism and separatism in Central Asia. It came close to becoming a second Chechnya or a second Syria. (news.financializer.com). As reported in the news.

request moon: At their meeting in Seoul, Son said the country should direct all available tools, such as education, policies and budgets, to nurture the sector, while Moon asked the billionaire to invest in young entrepreneurs and help develop experts in AI. ; Son gladly accepted Moon's request, according to the office, according to The Japan Times. Moon also thanked Son for advising former presidents Kim Dae Jung and Roh Moo Hyun while they were in office, saying Son's advice on the need for broadband internet infrastructure and an online gaming industry greatly helped the South Korean economy, the office said. Chairman and CEO Masayoshi Son proposed to South Korean President Moon Jae In on Thursday that South Korea focus on the national development of artificial intelligence, the presidential office said. Son, who is ethnically Korean, was quoted as replying that he is happy to see many excellent internet technology companies emerge in South Korea. It is rare for the South Korean president to have a separate official meeting with a business figure at the presidential compound, according to Yonhap News Agency. Neither Moon nor Son commented on deteriorating ties between Japan and South Korea, according to the presidential office. (news.financializer.com). As reported in the news.

investments: On Friday, he called on the CPPIB to publicly acknowledge the divestment and take a position on ethical investing, according to The Guardian. Deeply concerning' Canada pension fund invests in US immigration detention firms Read more Ethical investments are essential to maintaining public confidence in what the Canadian Pension Plan does, and the investments in Geo Group and Core Civic were deeply offensive to Canadian values, he told the Guardian. Late last year, the Guardian reported that the Canadian Pension Plan Investment Board CPPIB held nearly US 8m in stock in Geo Group and Core Civic, which between them hold the lion's share of contracts to manage Immigrations and Customs Enforcement Ice detention facilities in the US. The CPPIB, which manages C 392bn US 299m in pension funds on behalf of 20 million Canadians, did not make a public statement when it dropped the two companies from its list of foreign public equity holdings, but the change was spotted this week by the federal MP Charlie Angus, a member of the opposition New Democratic party. It's a crock to say the market should be blind and we'll go where we can make the easiest money. The NDP has tabled a bill, C-431, asking that the pension board abide by greater ethical standards. I mean, there's all kinds of places to make easy money. (news.financializer.com). As reported in the news.

japanese government: In Tokyo on Friday, after reports of the foundation's formal dissolution, Japanese Deputy Chief Cabinet Secretary Yasutoshi Nishimura said Japan can never accept the decision, according to Asahi Shimbun. The Japanese government separately repeated its call to the South Korean government through a diplomatic channel to implement the agreement. After deciding in November to dissolve the Reconciliation and Healing Foundation, the South Korean government took procedural steps toward the dissolution without consent from the Japanese government. Under the agreement reached in December 2015 to finally and irreversibly settle the comfort women issue, Japan provided 1 billion yen 9.27 million to the foundation to help former comfort women and their families. The administration of President Moon Jae In proceeded to dissolve the foundation. But the deal, struck under the previous administration of President Park Geun Hye, proved unpopular in South Korea, in part because many thought it had failed to reflect the opinions of surviving victims. (news.financializer.com). As reported in the news.

news industry: A competition watchdog final report on the impact digital platforms are having on privacy, data and the news industry in Australia has been handed to Treasurer Josh Frydenberg for consideration, according to Nine News Australia. The Australian Consumer and Competition Commission's preliminary report in late 2018 called for significant new powers to monitor, investigate and fine tech giants. To improve your experience update it here News National Media call to regulate Google, Facebook By AAP1 16pm Jul 5, and Facebook's stranglehold over Australia's struggling journalism industry must be regulated, one of the nation's top media executives says. News Corp Australia's corporate affairs director Campbell Reid says the playing field must be levelled between tech giants and media companies. They free ride off content created by us and others and monetise it without returning any of that revenue fairly back to us, he told Sky News on Friday. At the moment they unfairly dominate advertising markets. (news.financializer.com). As reported in the news.

reserve bank: Shares are currently 1.7 per cent off the 2007 record high of 6851.5, and it has caused a ripple effect for the average Aussie, according to Nine News Australia. It's almost a dichotomy, the economy is slowing down at the moment and that's prompted the Reserve Bank to cut interest rates, 9News Finance Editor Ross Greenwood told Today. To improve your experience update it here News National What the soaring stock market means for the average Aussie punter By 9News Staff10 51am Jul 5, the Federal Government's 158 billion cash splash and recent rate cuts, Australia's stock market has risen to its second biggest high in history. What the soaring stock market means for the average Aussie punter. There is money in people's hands, which is the equivalent to two interest rate cuts to a typical mortgage holder, Greenwood said. AAP The slow-down has also prompted the government to put money back in people's pockets after the tax cut initiative passed senate yesterday. (news.financializer.com). As reported in the news.

sources donations: He has far outstripped Hunt under any metric of funding, amassing well over double the amount in donations, and more than 1m overall since November in donations and income from speeches and other sources, according to The Guardian. Donations graphic The figures, drawn from the regularly updated register of members' interests, in which MPs must declare all donations of 1,500 or more, also illustrate the often opaque world of UK political financing, not least the incredibly narrow social and professional world from which donors come. An analysis of the past nine months of donations and other declared income to the pair shows that if attracting money is an indication of likely success, then Johnson appears set for an easy win. While there is no guarantee a wealthy individual with an interest in a particular area will be able to shape policy or gain influence, it is pertinent to know who is handing over money and the big sums involved. About 415,000 is from donations, with more than 330,000 given since May. How much have the candidates raised Since November last year, amid the early signs of a Tory leadership race was likely, Johnson has declared more than 1m in money via the register of MPs' interests. (news.financializer.com). As reported in the news.

catholic church: The two addressed various questions of relevance to the life of the Catholic Church in Russia, the Vatican said in a statement, adding that they also discussed the ecological question and various themes relating to current international affairs, with particular reference to Syria, Ukraine and Venezuela. ; The pair also expressed their satisfaction at the development of bilateral relations during the cordial discussions, the Vatican said, according to The Japan Times. Thank you for the time you have dedicated to me, Putin told Francis. Francis received Putin in an hour-long audience at the Vatican Apostolic Palace. It was a very substantive, interesting discussion, he told journalists present at the exchange of gifts in the private papal study. The Vatican said the aim is to lend support in the delicate situation in which Ukraine finds itself. The meeting, part of Putin's one-day visit to Rome, comes a day before Catholic leaders from Ukraine gather at the Holy See to discuss the continuing conflict there and the fallout from the schism between the Russian and Ukrainian Orthodox Churches. (news.financializer.com). As reported in the news.

depreciation write-offs: That means many real estate investors now own properties that are worth way more than their tax basis, according to Market Watch. That's especially likely with a rental property for which you've claimed depreciation deductions over the years. Prices in some areas have surpassed those levels and are still going up. Those depreciation write-offs reduced your tax basis in the property, resulting in a bigger taxable gain if you sell. Why Because simple inaction or arranging for a tax-free Section 1031 exchange, instead of a sale, could be tax-smart strategies. Here's the message If you are a well-seasoned individual who owns real property that would trigger a big taxable gain if sold, please think long and hard about not selling. (news.financializer.com). As reported in the news.

fuel companies: The National Trust will offload all fossil fuel investments from its 1bn stock market portfolio over the next three years with the majority to be sold within 12 months, according to The Independent. The fund is an important source of revenue for the charity, allowing it to protect properties across the UK. But the National Trust said investments in fossil fuel companies were no longer aligned with its aims as Europe's largest conservation charity. Britain's largest charity, with around five million members, said oil and gas companies had not done enough to combat climate change by moving towards green alternatives to oil, gas and coal. 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.

impact: We didn't expect the China-US trade conflict would move rapidly and that its impact on the global economy could be this profound, according to Global Times China. Even if Huawei had begun preparing for it 10 years ago, its founder Ren Zhengfei would have acknowledged that he didn't expect the impact to be so swift and drastic. When we attempted to define the new normal of China's economy and chose the path to structural reform on the supply side, we failed to consider world economy changes. Everyone seems to be filled with anxiety worldwide after global economic indicators for June were unveiled. They can be interpreted as one question Is the world facing a new round of slowdown or a crisis The first source of anxiety revolves around technology. Would such an anxiety point to a recession on the horizon or a collapse The two words are different, and much talked about in developed markets. (news.financializer.com). As reported in the news.

increase import: Li stressed that China stood ready to better synergize the Belt and Road Initiative with Bangladesh's development strategy, and speed up mutually beneficial cooperation in various fields, according to Global Times China. He also expressed expectation to discuss feasibility of joint study on the free trade agreement, increase import of Bangladeshi high-quality products meeting the needs of the Chinese market, promote balanced development of trade, and facilitate bilateral investment and personnel exchanges. Li voiced China's willingness to keep close high-level exchanges with Bangladesh, strengthen strategic mutual trust, boost mutually beneficial cooperation and enhance people-to-people friendship, so as to push for new development of bilateral relations, the Xinhua News Agency reported on Thursday. Hasina said Bangladesh-China ties are at a high level and Bangladesh would celebrate the 45th anniversary of the establishment of diplomatic ties with China next year. The cooperation between them in infrastructure, people's livelihood and tourism shows the all-round development of China-Bangladesh strategic partnership, Zhang Jian, an expert at the Department for Asia-Pacific Security and Cooperation Studies of China Institute of International Studies, told the Global Times on Thursday. She said Bangladesh was advancing the goal of Sonar Bangla at present, reiterating that her country was willing to actively participate in the joint construction of the Belt and Road. (news.financializer.com). As reported in the news.

months: The company's drive back to growth is only half the journey, however, according to Global Times China. The 40 billion outfit revealed late Tuesday that it had handed customers the keys to some 95,000 vehicles last quarter. Tesla has bounced back from a poor first quarter by posting record sales for the three months to the end of June. That's 51 percent more than in the previous three months, a dismal performance that led to a 700 million loss for the period. First, it ought to quell fears that demand for the mass-market Model 3 has dropped. The improvement should be a relief for investors on two fronts. (news.financializer.com). As reported in the news.

company: Ibis Capital Partners Llp who had been investing in Comcast Corp New for a number of months, seems to be less bullish one the 196.62B market cap company, according to MSNBC. The stock increased 1.00% or 0.43 during the last trading session, reaching 43.32. The hedge fund held 76,885 shares of the television services company at the end of 2019Q1, valued at 3.07 million, down from 146,171 at the end of the previous reported quarter. About 8.34 million shares traded. It has outperformed by 27.77% the S&P500. Comcast Corporation CMCSA has risen 32.20% since July 4, 2018 and is uptrending. (news.financializer.com). As reported in the news.

bn najib: Riza has previously been questioned in relation to the multibillion-dollar 1MDB scandal, in which Najib was accused of involvement in a sovereign wealth fund that was allegedly used to steal more than 3bn, according to The Guardian. Najib denied charges of involvement in the schemes in May, in the first of multiple trials related to the scandal. Riza Aziz was detained on Thursday but released on bail, according to Malaysia's Anti-Corruption Commission MACC chief Latheefa Koya, who said the film producer would face money-laundering charges on Friday. The controversy helped to end the 60-year dominance of Malaysian politics by Najib's Barisan Nasional coalition. Riza's film production company, Red Granite, last year paid US authorities 60m to settle charges of involvement without admitting wrongdoing, after it was alleged to have used misappropriated money to fund Oscar-nominated The Wolf of Wall Street and other films. The effects of the scandal have been felt around the world, from the seizure of a 95m yacht in Bali allegedly bought with stolen funds, to criminal charges against US investment bank Goldman Sachs. (news.financializer.com). As reported in the news.

chinese customers: Walmart WMT is planning to spend the money to boost grocery deliveries, according to CNN. Walmart continues to increase investment in supply-chain logistics in order to ... provide our Chinese customers with great fresh products, and improve our service, Ryan McDaniel, senior vice president of supply chain for Walmart China, said in the statement. The US retail giant plans to invest around 8 billion yuan 1.2 billion in distribution centers in China over the next two decades, it said in a statement sent to CNN Business. Walmart has already invested 700 million yuan 102 million in building a distribution center for perishables in the south of China as it tries to cater to customers who are increasingly shopping online. Walmart partnered with another big Chinese tech firm, JD JD in 2016, and has also invested more than 300 million in a Chinese delivery firm Dada-JD Daojia. Read More The Arkansas-based retailer, which has been in China since 1996, faces competition from local supermarkets and online rivals like Alibaba BABA which has grown its grocery business in recent years. (news.financializer.com). As reported in the news.