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

auto industry: Robots until recently have been limited to precise, preprogrammed and repetitive heavy-duty jobs like automotive manufacturing, according to The Japan Times. Yet at the Rosborg Food greenhouse, the OnRobot devices adjust on the fly. For moviegoers used to seeing humanoid machines in action, that might not seem special but in truth, it is a remarkable feat. One pot might be slightly out of position. While deliveries of robots to the U.S. auto industry fell 12 percent last year, shipments to food and consumer-product companies soared 48 percent. The next might be a little heavy. ; Robots that can see, learn and grip different items are advancing quickly into the retail, food-and-beverage and consumer-packaged-good industries. (news.financializer.com). As reported in the news.

crisis fact: Don't miss Opinion Either the Dow transports or the Baltic Dry Index isn't telling the truth, according to Market Watch. And while markets can sometimes defy logic and clamber ever higher, the following chart suggests investors' appetite for assets considered risky, like stocks, has ebbed to levels not seen since the 2008-09 financial crisis Fact Set, Market Watch Caption outside of wrapper for normal article images One gauge of that is relative strength, which technical analysts use to compare one asset's performance in relation to another. Although the three main U.S. stock indexes the Dow Jones Industrial Average DJIA, 0.10% S&P 500 SPX, 0.02% and Nasdaq Composite index COMP, 0.17% continue to climb to records, there are some early warnings that trouble lies beneath the surface of an otherwise run-of-the-mill ascent to fresh heights. In this case, the Russell 2000 Index of small-capitalization stocks RUT, -0.52% has actually been stable on an absolute basis over the past six months, but that is not a good thing when the S&P 500 index SPX, 0.02% tracking large-capitalization stocks has surged to all-time highs above 3,000. Why is it important to measure how small-cap stocks have performed relative to large-caps Small caps are more sensitive to liquidity issues, both good and bad, said Tom McClellan, publisher of the McClellan Market Report, in a recent research note. On Thursday, the S&P 500 rose 0.2% to a record close, while the Russell 2000 fell 0.5% to close 10.5% below its record, which was reached back in August 2018. (news.financializer.com). As reported in the news.

djibouti rwanda: As China's economy soars, the AIIB as a China-led financial institution has won increasing recognition and higher expectations from the global community, Dong Dengxin, director of the Financial Securities Institute at the Wuhan University of Science and Technology, told the Global Times, according to Global Times China. On Saturday, the AIIB announced that it had supported the applications of three African countries - Benin, Djibouti and Rwanda. The 100-member mark, as well as 8.5 billion of loans granted to date, shows the rapid development of the China-proposed multinational lender even though it is still in a take-off period and in search of a sounder corporate governance structure. The decision was made by the AIIB's board at its fourth annual meeting held in Luxembourg on Friday and Saturday. Chinese Finance Minister Liu Kun said at the meeting that the AIIB has become an important new member of the multilateral development system. Including the new members, AIIB members collectively account for 78 percent of the world's total population and 63 percent of global GDP, said AIIB President Jin Liqun. (news.financializer.com). As reported in the news.

education group: Sports Direct's billionaire boss has made an array of acquisitions and attempted purchases of struggling businesses, according to The Independent. The biggest was House of Fraser, which Sports Direct bought out of administration last August for 90m. After a couple of years under attack from MPs and shareholders over working conditions at Sports Direct's warehouse, Ashley has attempted to reinvent himself as the saviour of the high street. Since then the company has also bought Evans Cycles, Sofa and Game Digital. Other companies Ashley has considered buying over the past year include Patisserie Valerie, LK Bennett and Hamleys. He also tried unsuccessfully to buy Debenhams and Findel, the online retail and education group. (news.financializer.com). As reported in the news.

europe africa: The Compact with Africa follows a different, a new approach it is about an equal footing type of partnership, aiming to be long-lasting and benefit all equally, according to Deutsche Welle. Apart from strengthening Africa as a location for investment, it is also important to establish fair trade relations between Europe and Africa, according to Merkel. The point wasn't just talking about Africa, but with it, Merkel said as she addressed the conference. The meeting is dedicated to evaluating the effects of the large-scale G20 project, launched under Berlin's presidency of the group to boost African infrastructure and the economy. This conference here expresses the fact we want to live and breathe partnership and cooperation, Merkel said. Egyptian leader Abdel-Fattah el-Sissi, Rwandan leader Paul Kagame and Ethiopian Prime Minister Abiy Ahmed Ali are also attending. (news.financializer.com). As reported in the news.

hat: The deal, which had an enterprise value of about 34 billion, closed in early July, according to Market Watch. Don't miss Analysts bet surge of cloud M&A' could follow IBM/Red Hat How much the company is willing to say about the deal on its upcoming conference call remains an open question, however, due to a strange set of circumstances. As IBM IBM, 0.41% tries to reduce its reliance on legacy businesses, it's looking to Red Hat's hybrid-cloud revenue stream to jolt growth, and investors will be trying to gauge the magnitude and timing of this impact when IBM delivers its Wednesday earnings report. IBM also plans to host an investor briefing on Aug. 2, two weeks after its earnings report, when it will update its outlook to reflect the addition of Red Hat. Given the proximity of these two events, Evercore ISI analyst Amit Daryanani wrote that the widely held expectation is for IBM's upcoming results and outlook to be a nonevent. The company has stated that the outlook it plans to deliver in its earnings report will exclude projected Red Hat impacts. (news.financializer.com). As reported in the news.

front page: The firm is not certified to sell the products, media reported, according to Global Times China. A notice posted on the front page of the app on Tuesday said that its stock analysis and recommendation video programs were suspended due to a system failure, and the company will issue a notice as soon as the system is fixed. They all work at a Shanghai-based stocks analysis app named Thousand & Billion whose software product aicaopan love trading is accused of causing investors losses via recommending stocks that would rise to the 10 percent daily ceiling. The same notice was posted on its Sina Weibo account on Wednesday. Some of the app users who had paid for the services requested reimbursement after news of the arrests leaked out. Besides the alleged illegal recommendation and manipulation of shares, another possible reason for the detentions is that some of the analysts are not licensed to provide stock market analysis in the Chinese mainland, an industry insider who requested anonymity told the Global Times on Sunday. (news.financializer.com). As reported in the news.

gr ie: Support for medicinal cannabis was even stronger, with 77 per cent of respondents saying it should be permitted, according to The Independent. A similar proportion said they would consider using cannabis-based treatments if there was strong evidence it would benefit them. Forty-eight per cent of voters favour legalising recreational use of marijuana, up five points in the past year, with only 24 per cent objecting, found the You Gov survey. 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.

grant strudwick: But they point to issues clouding the outlook as investors and residents fret that the city will lose its Western-style freedoms. ; Many in Hong Kong believe their future hinges on keeping the civil liberties, independent courts and other advantages that Beijing promised to preserve for at least half a century after Britain ceded control under an arrangement dubbed one country, two systems, according to The Japan Times. We're still talking about 28 years, said Grant Strudwick, vice president for Asia for Pinkerton, which provides risk management services. The end of the former British colony's 50-year grace period after China took control in 1997 is years away, and the protests have made only a minor dent in day-to-day business. The spotlight is on China as to how they treat this transition period. Now it is a tiny fraction of that, thanks in no small part to an industrial boom driven by Hong Kong tycoons who set up factories across the border after China opened to outside investment in the 1970s. Hong Kong's economy once was about one-fifth the size of China's. (news.financializer.com). As reported in the news.

innovation experimentation: Some of us even run vineyards over there and a great many more of us enjoy the wines while on holiday, according to The Independent. While the rigorous French system of labelling and classifying wines, particularly in Bordeaux, can be a puzzle to outsiders, it mostly ensures certain standards, even if it can be stifling to innovation and experimentation. We have historic vinous associations with areas such as Bordeaux and Burgundy the biggest export market for champagne and our finest restaurants have lists which depend on its wines. But what is also remarkable and quite wonderful about French wine is the sheer variety of styles and terroirs and the incredible loyalty of the French to their wines, which, wherever you are, are usually the best So, in the second part of our French Tour Du Vin, as the Tour De France winds its way around the country and the nation celebrates Bastille Day la F te nationale tomorrow, here are some classic and some not so well-known wines to enjoy, with the emphasis on lighter wines for summer drinking. You can form your own view. And having covered French roses twice in the last few weeks here and here today we are looking at sparkling, whites and lighter reds 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. (news.financializer.com). As reported in the news.

italian treasury: According to previous media accounts, the Italian Treasury would take another 15 percent, while discussions were held with the U.S. airline Delta to take another 15 percent, according to The Japan Times. Investors willing to buy into the outstanding 40 percent had until late Sunday to make their interest known to the bank handling the rescue, Mediobanca. The companies are said to be ready to partner with Italy's state railway, Ferrovie dello Stato FS which is to present its formal rescue plan for the airline on Monday, the reports said. ; That plan has been pushed back several times as discussions were held to bring various investors on board with FS, which has said it does not want to hold more than 30 percent of Alitalia. Italian media citing sources in the bank said four offers had been received. The other putative investors were Toto, a public works construction firm and expressway operator that had in the past run a domestic airline that competed with Alitalia; the boss of the Lazio Football Club, Claudio Lotito; and Brazilian tycoon German Efromivich, who is the principal stakeholder in Colombian airline Avianca. The main one was from Atlantia, a major operator of toll expressways and airports that is part of the Benetton group best known for its clothing brand, which reportedly will take 35 percent in Alitalia, worth more than 300 million 340 million . Atlantia has already twice injected money into the airline, which has long been struggling with debt. (news.financializer.com). As reported in the news.

nuclearized iran: Hunt said the United Kingdom remained committed to plan before leaving for Iran, according to Deutsche Welle. The Iran nuclear deal remains a vital component of stability in the Middle East by eliminating the threat of a nuclearized Iran, Hunt said. We remain hopeful that the Europeans can save the deal, ministry spokesman Bahram Qasemi told a news conference broadcast live on state TV. The comments came ahead of British Foreign Secretary Jeremy Hunt's meeting with his Iranian counterpart, Mohammad Javad Zarif, in Tehran. It needs 100 percent compliance though to survive. It lifted international sanctions against Iran in exchange for the country dismantling its nuclear program. Hunt is the first European foreign minister to visit the country since the US pulled out of the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action JCPOA . Read more Iran nuclear deal Germany's special role and plans Europe against the US The JCPOA a deal between Iran and the United States, Germany, Britain, China, Russia and France, as well as the European Union was concluded in 2015 after years of painstaking negotiation. (news.financializer.com). As reported in the news.

saturday evening: U.S. Sen, according to The Japan Times. Charles Schumer said Sunday the Department of Energy's Office of Electricity should investigate the work being done by Con Edison to maintain and upgrade the city's power grid. Con Edison engineers and planners are looking into what happened at a substation on Saturday evening that caused the blackout, which stretched 30 blocks from Times Square to the Upper West Side for about four hours. ; Thousands of people crowded the streets Saturday evening, using their cellphones as flashlights while they tried to stay cool amid the humid July evening, where temperatures hit the low 80s. He added that this type of massive blackout is entirely preventable with the right investments in our grid, encouraging a thorough investigation that could shed light on wider electricity issues that could have national impact. We have a lot of networks that have aging infrastructure and antiquated systems, he said. Gregory Reed, a professor of electric power engineering at the University of Pittsburgh who once worked at Con Ed, said the utility had done a good job in restoring power quickly, but said it underscores a need throughout the country to invest more in infrastructure. (news.financializer.com). As reported in the news.

single-child families: Taking a snapshot of the anxiety felt by young people today and concluding that a whole generation is at risk because of social media ignores more noteworthy social changes.' Keith Hampton, professor of media and information at Michigan State University Taking a snapshot of the anxiety felt by young people today and concluding that a whole generation is at risk because of social media ignores more noteworthy social changes, such as the lingering effects of the Great Recession, the rise in single-child families, older and more protective parents, more kids going to college and rising student debt, he said, according to Market Watch. In a study published in the peer-reviewed Journal of Computer Mediated-Communication, Hampton analyzed 2015/2016 data from 26,000 people or 13,000 adult relationships in the Panel Study of Income Dynamics, which is widely regarded as the world's longest-running household survey. Social-media sites like Facebook FB, -0.47% which has 2.38 billion users worldwide, Instagram, Snapchat SNAP, -0.70% and Twitter TWTR, 2.22% make it easier to maintain relationships, access health information, improve mental health and even avoid serious psychological distress, according to a new study by Keith Hampton, professor of media and information at Michigan State University. That survey includes a series of questions about social-media platforms and psychological distress. Social-media users are 63% less likely to experience serious psychological distress, Hampton said. What Hampton found runs contrary to a raft of studies that have suggested a relationship between social media and isolation and depression. (news.financializer.com). As reported in the news.

star market: Chinese mainland stocks have recently been inching lower in very thin trade as investors remain cautious ahead of the debut of the first batch of companies on Shanghai's STAR Market on July 22, according to Global Times China. The benchmark Shanghai Composite Index closed narrowly higher Thursday, while the Shenzhen Component Index ended the day in negative territory after opening higher, underperforming a global rally fueled by a stronger Federal Reserve rate cut case. If that does prove to be the case, the recent sluggishness in China's A-share market is not likely to indicate deeper woes for investors, although greater efforts will be required on the regulatory side to better protect retail investors who are still the backbone of the domestic stock market. During testimony before the House Financial Services Committee on Wednesday, Federal Reserve Chairman Jerome Powell said the Fed will act as appropriate as crosscurrents weigh on the US economy. However, Chinese mainland shares continued to languish. All three major US stock indices hit record highs in intraday trade Wednesday. (news.financializer.com). As reported in the news.

brexit vote: The multi-billion pound fund could then be used to address poor infrastructure, skills training and connectivity in areas that often have the greatest concerns about EU migration which may have prompted significant leave votes, according to The Guardian. Its director, Peter Starkings, said the fund would address the problems of inequality that had prompted the Brexit vote but which leaving the EU would not solve. The report by Global Future, backed by Labour MPs including Yvette Cooper and Lisa Nandy, suggests the fund could be paid for by the Treasury by reversing planned cuts to corporation tax. Leavers voted for Brexit because they felt that Britain wasn't working for them, he said. We believe the migration dividend fund could be central to that agenda and our proposals are backed by the public, including two thirds of leavers and 70% of remainers. Remainers need to take that seriously and produce a plan for real reform if they are going to change any minds. (news.financializer.com). As reported in the news.

feb: Rashida Tlaib D-MI listen as Michael Cohen, former attorney and fixer for President Donald Trump, testifies before the House Oversight Committee on Capitol Hill Feb. 27, Donald Trump tweeted Sunday morning suggesting that prominent Democratic congresswomen of color should go back where they came , according to MSNBC. Ayanna Pressley D-MA and Rep. (news.financializer.com). As reported in the news.

model: It could also resurrect the dormant plans for a 16bn new nuclear reactor at the Wylfa project in North Wales, which fell apart last year due to the high costs of nuclear construction, according to The Guardian. Government officials are expected to reveal a new financial framework based on the model being used to finance the 4.2bn Thames Tidewaytunnel. The funding model, expected this week, could help bankroll the multibillion pound plans for a follow-on to EDF Energy's Hinkley Point C project in Somerset, which ministers aim to build at the Sizewell site in Suffolk. Under those plans, the government has allowed the super-sewer's developers to charge customers upfront for the project, and agreed to cover cost overruns above 30% of the budget and step in as a lender if funding dries up. The policy roadmap will set out the government's plans for the energy sector as the economy moves towards the UK's target to reduce emissions to net zeroby 2050. The nuclear plans are expected to be unveiled before parliament's summer recess at the end of this week, before a long-awaited energy white paper. (news.financializer.com). As reported in the news.

official spokesperson: Readers were informed the decision had left Italian egos smarting and he quoted an official spokesperson Willy H lin who insisted this is a very serious business . Quick guide About this series Show Hide The real Boris Johnson Over the course of the week, the Guardian is publishing a series of news reports, features and multimedia components on the man widely expected to be the next Conservative leader and therefore prime minister, according to The Guardian. In coverage that ranges from his early days as a journalist to his last senior job as foreign secretary, we will seek to shed light on the exploits, ambitions and values of one of the most consequential and most divisive politicians of the age. Under the headline Italy fails to measure up on condoms Johnson revealed in the Daily Telegraph that Brussels bureaucrats have shown their legendary attention to detail by rejecting new specifications for condom dimensions despite demands from the Italian rubber industry for a smaller minimum width. Was this helpful Thank you for your feedback. Three decades later, H lin, now retired, told the Guardian from his hospital bed he was still exasperated by the load of bullshit written by Johnson. That was in 1991. (news.financializer.com). As reported in the news.

allegations facebook: The probe has focused on whether the data-sharing violated a 2011 consent agreement between Facebook and the regulator, according to The Japan Times. The FTC is expected to include in the settlement other restrictions on how Facebook should treat privacy, according to the Wall Street Journal, which also said that the agency vote was along party lines, with three Republicans voting to approve it and two Democrats opposed. Investors cheered news of the deal and pushed Facebook shares up 1.8 percent, while several powerful Democratic lawmakers in Washington condemned the proposed penalty as inadequate. ; The FTC has been investigating allegations Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica. The settlement would be the largest civil penalty ever paid to the agency. Rep. The FTC and Facebook declined to comment. (news.financializer.com). As reported in the news.

china: In comparison to the 22 countries' governments, which only represent the West, these 37 countries are much more representative, according to Global Times China. According to reports, the 37 countries opposed politicizing human rights in their joint letter to the UN Human Rights Council, saying that China has made remarkable achievements in the field of human rights. This is a direct response to the 22 developed countries' open letter in which they criticized China's policy in Xinjiang. Faced with the grave challenge of terrorism and extremism, China has undertaken a series of counter-terrorism and de-radicalization measures in Xinjiang, including setting up vocational education and training centers, the letter said. Besides Saudi Arabia and Russia, the envoys of many African countries, North Korea Venezuela, Cuba, Belarus, Myanmar, the Philippines, Syria, Pakistan, Oman, Kuwait, and other countries also signed the joint letter. The past three consecutive years have seen not a single terrorist attack in Xinjiang and people there enjoy a stronger sense of happiness, fulfillment, and security, the letter stated. (news.financializer.com). As reported in the news.

crisis fact: Don't miss Opinion Either the Dow transports or the Baltic Dry Index isn't telling the truth, according to Market Watch. And while markets can sometimes defy logic and clamber ever higher, the following chart suggests investors' appetite for assets considered risky, like stocks, has ebbed to levels not seen since the 2008-09 financial crisis Fact Set, Market Watch Caption outside of wrapper for normal article images One gauge of that is relative strength, which technical analysts use to gauge one asset's performance in relation to another. Although the three main U.S. stock indexes the Dow Jones Industrial Average DJIA, 0.90% S&P 500 SPX, 0.46% and Nasdaq Composite index COMP, 0.59% continue to climb to records, there are some early warnings that trouble lies beneath the surface of an otherwise run-of-the-mill ascent to fresh heights. In this case, the Russell 2000 Index of small-capitalization stocks RUT, 0.78% has actually been stable on an absolute basis over the past six months, but that is not a good thing when the S&P 500 index SPX, 0.46% tracking large-capitalization stocks has surged to all-time highs above 3,000. Why is it important to measure how small-cap stocks have performed relative to large-caps Small caps are more sensitive to liquidity issues, both good and bad, said Tom McClellan, publisher of the McClellan Market Report, in a recent research note. On Thursday, the S&P 500 rose 0.2% to a record close, while the Russell 2000 fell 0.5% to close 10.5% below its record, which was reached back in August 2018. (news.financializer.com). As reported in the news.

european parliament: Timmermans outlined eight new recommendations for immediate follow-up, including undoing laws on mandatory retirement for judges, halting recent changes to the country's criminal code and increasing media freedom, according to Deutsche Welle. Lawmakers in the European Parliament also overwhelmingly passed a resolution on Tuesday that sharply criticized Romania's disputed judicial reform plans. The developments over the last 12 months sadly have called into question and sometimes even reversed the progress made over the last 10 years, Commission Vice President Frans Timmermans told reporters in Strasbourg. EU lawmakers warned that the planned reforms threaten to structurally undermine the independence of the judicial system ... as well as to weaken the rule of law. Liviu Dragnea, head of the ruling Social Democrat party, rejected the Commission's criticism, saying The real topics regarding Romania are beyond any report or monitoring mechanism. The EU's concerns stem from a series of legal and personnel changes that the Social Democrats have pushed through since coming to power two years ago. (news.financializer.com). As reported in the news.

interest-rate cuts: I'm having a hard time figuring out why they're planning to cut, said Mark Stoeckle, CEO and senior portfolio manager at Adams Funds told Market Watch, adding that his conversations with management have left them cautiously optimistic about the trajectory of the economy as benchmark stock indexes hit all-time high, according to Market Watch. This is not the traditional environment one expects to trigger interest-rate cuts. Possibilities include a single 25 basis-point cut in the federal funds rate for the year at the next policy meeting in July, as well as a rare 50-basis point reduction later this month that kicks off several rounds of easing before the end of the year. Michael O'Rourke, chief market strategist at Jones Trading went as far as to call Powell's testimony surreal, in a recent note to clients. Read An economy gone mad ' The Fed is going to cut interest rates despite record stock prices, low unemployment Others say that a rate cut in such an environment is not as uncommon as one would think. Unemployment is below the Fed's maximum employment target, prices are as stable as they have ever been in the history of the country, and the yield on a 30-year Treasury yield is 50 basis points above its all-time low, he wrote, arguing that the Fed is clearly achieving its mandate of maximum unemployment in the context of price stability. (news.financializer.com). As reported in the news.

microsoft msft: Shares closed at a record high 138.40 on Thursday, and are up 36% year to date, compared with the 31% gain in the iShares Expanded Tech-Software Sector ETF IGV, 0.21% In comparison, the S&P 500 index SPX, 0.46% is up nearly 20% for the year, according to Market Watch. With Azure revenue rising 73% in the last quarter from year ago levels, and shaping up as the company's fastest-growing segment, investors are concerned whether that pace can be sustained and whether Microsoft can continue to chip away at Amazon Inc.'s AMZN, 0.50% dominance in the public cloud market. Microsoft MSFT, 0.36% is scheduled to report fiscal fourth-quarter earnings after the bell on July 18. Evercore ISI analyst Kirk Materne, who considers Microsoft a best-in-class stock with a price target of 165, said investors may need to be patient in the near-term with the stock given its run-up, but sees a good long-term risk/reward for it, especially given the good first half for software companies. In fact, when looking at the performance of software companies on a 1H vs. 2H basis over the last 10 years, strong 1H performance is usually followed by a slower 2H not exactly a shock . What to expect Earnings Of the 30 analysts surveyed by Fact Set, Microsoft on average is expected to post adjusted earnings of 1.21 a share, up from the 1.19 a share expected at the beginning of the quarter. As we head into 2H, our general view is that while the long-term demand drivers for the group remain intact, investors will need some patience as stocks digest 1H gains, Materne said. (news.financializer.com). As reported in the news.

mothers breastfed: It is a human right, it saves lives and improves the prosperity of economies, Canada-based health economics expert Dylan Walters said about the importance of breastfeeding, according to The Japan Times. Walters, who led the study of more than 100 countries, said the website is the first of its kind and is aimed to help policymakers to measure economic losses in individual countries when they do not support breastfeeding. A new website developed by researchers in Canada and Asia showed that the world could save 341 billion each year if mothers breastfed their children for longer, helping prevent early deaths and various diseases. ; The online tool at aliveandthrive.org, known as the Cost of Not Breastfeeding, used data from a six-year study supported by the U.S.-based maternal and child nutrition initiative Alive & Thrive. The United Nations' World Health Organization recommends that babies be breastfed exclusively at least for their first six months, then have a diet of breast milk and other food until they are 2 years old. But only 40 percent of infants under 6 months old are exclusively breastfed globally, while 820,000 child deaths could be avoided each year if the recommendation is followed, it said. Breastfeeding can help prevent diarrhea and pneumonia two major causes of infant death and protect mothers against ovarian and breast cancer, according to the U.N. agency. (news.financializer.com). As reported in the news.