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

border residents: The alleged tax evasion was suspected to be about 40 million yuan, according to Global Times China. Since 2014, the smuggling ring has ordered agricultural products from India and other countries and asked the suppliers to send the goods to Vietnam. On July 17, police arrested six suspects and seized smuggled agricultural products including dried chillies, fennel and cumin. Taking advantage of the preferential tax policies for border residents, the ring smuggled the products into China via Vietnam, according to the customs. Nearly 7.5 tonnes of smuggled ivory tusks seized in Guangdong Further investigation is underway. (news.financializer.com). As reported in the news.

china: The July revolution triggered the transformation of Egypt from a monarchy into a republic, calling for the unity of developing countries to create the Non-Alignment Movement, Elmagdoub said in a speech celebrating Egypt's National Day, according to Global Times China. One of the most significant outcomes of this revolution was the establishment of diplomatic relations between the Arab Republic of Egypt and the People's Republic of China in 1956, marking Egypt as the first Arab and African country to establish diplomatic ties with the new China, he said. China and Egypt are enjoying the Comprehensive Strategic Partnership agreement launched in 2014, which has started to translate into several industrial-capacity projects that aim to enhance Egypt's industrial capabilities. Egypt, which aims to become an advanced economic power in the 21st century, has applied a very ambitious socio-economic reform program in recent years. Egypt also plans to build a new administrative capital in the east of Cairo, where China plays an important role in the construction of the CBD, said the ambassador. Among the reform plans, one is to double the passage through the Suez Canal to allow more traffic of ships and less crossing time. (news.financializer.com). As reported in the news.

company name: CIM in connection with failures to comply with its best execution obligation, which requires dealers and advisers to execute trades for clients on the most advantageous terms reasonably available under the circumstances, according to The Independent. As part of its settlement with the OSC, CIM has agreed to pay an administrative penalty of CAD 1,800,000 plus a further CAD 250,000 towards the cost of the OSC's investigation. Search first keyup' ; ; listener ; ;No matching results for ''Tip Try a valid symbol or a specific company name for relevant results Cancel Sign in Mailif window.performance window.performance.mark && && Finance Techif window.performance window.performance.mark && && U.S. Markets closedS&P window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && Investment Management Ltd. to pay 1.8M for violating trade execution rulesif window.performance window.performance.mark && && Group July 19, 2019if window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && July 19, 2019 /CNW/ - A Panel of the Ontario Securities Commission OSC today approved a settlement agreement with Caldwell Investment Management Ltd. Additionally, CIM has agreed to terms and conditions being imposed on its registration, which include a requirement to pay for an independent consultant, approved by OSC staff, to review and test CIM's new best execution procedures. CSL its own related investment dealer, when in many cases unaffiliated dealers offered better commission rates and bond spreads. In settling this matter, CIM admits that over an almost four year period from January 1, 2013 to November 15, 2016 it failed to provide best execution of equity and bond trades for its clients by directing most of its client trades through Caldwell Securities Ltd. (news.financializer.com). As reported in the news.

dow jones: The Nasdaq Composite COMP, -0.74% rose 33.69 points, or 0.4%, to 8,240.93, according to Market Watch. Shares of Microsoft Corp. The S&P 500 SPX, -0.62% rose 9.27 points, or 0.3%, to trade at 3,004.38, while the Dow Jones Industrial Average DJIA, -0.25% advanced 94.1 points, or 0.4%, to 27,317.07. MSFT, 0.15% were up more than 2% at 139.24, after trading at an all-time high at 140.67, following a stronger-than-expected earnings report. (news.financializer.com). As reported in the news.

earnings estimates: Hold your horses, says our call of the day, from Mike Wilson, chief investment officer of Morgan Stanley, who tells Market Watch in an interview that investors should wait for better times to jump into this stock market, according to Market Watch. And they are coming. Despite some backpedaling on those comments, there's still plenty of enthusiasm out there for equities. We're not looking for the bottom to fallout like last year, but I do expect a 10% correction in the next three months, said Wilson, whose end-year S&P target is 2,750. Once those estimates come down, stocks will look a lot more attractive. One reason is that earnings estimates are still 5% to 10% too high, a factor which will weigh on stocks in the next 6 months, he says. (news.financializer.com). As reported in the news.

insurance: It has complied with a request from Sumitomo Life Insurance Co. to stop promoting a medical insurance policy offered by the company, which had been sold together with a Japan Post Insurance product, according to The Japan Times. Aflac Life Insurance Japan Ltd. has yet to decide whether to suspend sales of cancer insurance policies offered by the company through Japan Post. The request follows the revelation last month of inappropriate sales practices by Japan Post employees, involving policies for Japan Post Insurance Co. that were sold through post offices across the nation. ; Japan Post, which manages the network of post offices, is currently considering its response to the request, it said. Nippon Life Insurance had entrusted Japan Post with sales of a foreign currency-denominated variable annuity insurance policy. It has been handled at some 1,000 post offices nationwide. The product allows Nippon Life to manage through investments the insurance premiums paid by its policyholders. (news.financializer.com). As reported in the news.

hong: Photo AP Netizens from the Macao Special Administrative Region condemned the violence of Hong Kong opposition forces and urged these mobs not to talk nonsense on Facebook's Macao pages, following a widely denounced social media post that tried to arouse resentment of Macao people, according to Global Times China. Some protesters from the Hong Kong Special Administrative Region tried to make use of Facebook to mobilize people in Macao to join their protest with agitating posts. Hong Kong Police Commissioner Stephen Lo Wai-chung strongly condemned the violence, vowing to track down those responsible for the clashes and hold them accountable. But to their dismay, the overwhelming majority of Macao netizens expressed strong disapproval to the call, pointing out what they are doing hurts their own region. Recently, Macao people criticized the Hong Kong protest. A post by a Hong Kong neitzen named Tan Shishi on Facebook showed the stark contrast between Hong Kong protesters and citizens in Macao. (news.financializer.com). As reported in the news.

morning session: The key market gauge tumbled 422.94 points Thursday. ; The Topix index of all first-section issues finished up 29.69 points, or 1.94 percent, at 1,563.96, after giving up 33.14 points the previous day, according to The Japan Times. The market got off to a strong start in the wake of the Dow Jones industrial average's upturn on the New York Stock Exchange on Thursday. The 225-issue Nikkei average surged 420.75 points, or 2.00 percent to end at 21,466.99 on the Tokyo Stock Exchange, snapping a three-day losing streak. Both the Nikkei and Topix expanded their gains throughout the morning session, as investors kept buying back or hunting shares that had dropped to reasonable levels in the recent slump, brokers said. In the afternoon, however, the market turned lethargic amid a lack of fresh trading incentives. A rise in Dow futures in off-hours trading and bullishness in Shanghai stocks also contributed to the Tokyo market's rally, they added. (news.financializer.com). As reported in the news.

week: John Lamparski/Getty Images for Advertising Week New YorkTHE BUDGET LATEST -- CAITLIN EMMA and Democrats said Friday there are nonstarters' in a new White House offer that includes 1.1 trillion in options to offset spending increases in a two-year agreement that would raise the budget caps and hike the debt limit, according to MSNBC. This is the White House's starting point for negotiations on this aspect,' a Democratic source close to the talks told POLITICO. They understand these levels are nonstarters for us. Facebook Twitter Email Print POLITICO Playbook The story behind Trump's Tom Friedman tweet By JAKE SHERMAN, ANNA PALMER, GARRETT ROSS and ELI OKUN 07/19/2019 12 59 PM EDTPresented by President Donald Trump took on NYT columnist Thomas Friedman in a series of tweets Friday. Talks will continue.' Democrats say they are reviewing the White House bid, however. T he Trump administration's demand to offset the spending increases represents a significant hurdle to finalizing a deal, with the administration seeking at least 150 billion. A senior Trump administration official confirmed that the White House on Thursday night proposed 574 billion in ways to counteract spending increases, in addition to 516 billion in savings that would be achieved by freezing fiscal 2021 spending levels for fiscal years 2022 and 2023. (news.financializer.com). As reported in the news.

airport bases: Ryanair, Europe's biggest short-haul carrier, also announced it would have to curb expansion plans pinned on the arrival of its 737 Max orders and that some airport bases would have to shut as a result, according to The Guardian. Making the announcement on Tuesday, its chief executive, Michael O'Leary, said he remained committed to the plane We've described them as gamechangers and they remain gamechangers. With more than four months already elapsed since the plane was grounded by regulators, Southwest and American, two of the jet's main US operators, followed United Airlines in saying they would be taking the Max out of their schedules until November. But O'Leary admitted even its biggest customers Ryanair has ordered 135 models have little visibility on its immediate future We're still operating in the realms of considerable uncertainty ... there are no guarantees. Boeing's top-selling plane, with around 5,000 on order worldwide, was pulled from service after an Ethiopian Airlines crash outside Addis Ababa in March that killed all 157 people on board. According to one report, the 737 Max might not return until next year as Boeing searches to fix the design flaws behind two deadly crashes. (news.financializer.com). As reported in the news.

climate: She has also promised to talk about child poverty and climate change, which is increasingly affecting smaller Pacific nations, according to Nine News Australia. The two leaders are meeting on Friday for the first time since the aftermath of Christchurch's massacre, in which an Australian far-right terrorist killed 51 people at mosques in March. To improve your experience update it here News National Jacinda Ardern to raise Kiwi deportation with Scott Morrison By AAP12 02pm Jul 19, deportation of criminals back to New Zealand is being raised in a meeting between Kiwi Prime Minister Jacinda Ardern and Prime Minister Scott Morrison in Melbourne. Australian PM Scott Morrison meets with Jacinda Ardern ahead of their meeting in Melbourne. 9News Mr Morrison gave Ms Ardern a soft toy rabbit and a book about Australian animals for her daughter Neve, before their meeting at the Commonwealth offices in Melbourne. Related Articles Dutton resists Ardern's plea to change 'corrosive' deportation law'Child poverty and climate change' key focuses for New Zealand PM on Australia visitNZ PM Jacinda Ardern to visit Melbourne She again congratulated Mr Morrison on his election victory and acknowledged the pair's close contact. The Australian leader acknowledged the strength of the two nations' relationship, noting we've got a number of issues we're just moving along and keeping in contact with . Thank you prime minister for the warmth of your welcome, Ms Ardern said at the start of a round table meeting with Mr Morrison and a team of advisors. (news.financializer.com). As reported in the news.

quarter-percentage point: T1 M How are the major benchmarks performing The Dow Jones Industrial Average DJIA, -0.25% ended down 68 points 27,154 and the S&P 500 index SPX, -0.62% was off 18 points at 2,976 while the Nasdaq Composite Index COMP, -0.74% lost 60 points to 8,146, according to Market Watch. What's driving the market Stocks lost altitude after The Wall Street Journal paywall reported that Fed officials, based on recent public statements and interviews, signaled they were ready to cut rates by a quarter-percentage point at their July 30-31 meeting, but weren't prepared to make a half-point reduction. The S&P 500 index rose back above 3,000 level in early trade, but all three benchmarks logged the biggest weekly decline since the end of May. Expectations for a half-point lowering had been on the rise but fell back after the report. Analysts said stocks may have also seen some price swings after reports Friday afternoon that Iran said it seized oil vessels in the Strait of Hormuz, heightening tensions in the region a day after President Donald Trump said a U.S. Naval ship shot down an Iranian drone. Fed-funds futures traders now see a 22.5% chance of a half-point move, down from a more than 40% probability earlier in the day, according to CME Group data. (news.financializer.com). As reported in the news.

need decision: We don't want to set an ultimatum, but eventually we need a decision, he told German tabloid Bild, according to Deutsche Welle. It is desirable that we have a solution before the league starts. RB Leipzig and Germany striker Timo Werner, who has just a year remaining on his contract, should make a decision on his future before the club's first league game on August 18, says the clubs's CEO Oliver Mintzlaff. Werner, who moved to Leipzig from Stuttgart in 2016, has reportedly drawn interest from both Liverpool and Bayern Munich. PSG's 21-year-old French midfielder Christopher Nkunku has joined RB Leipzig for a reported 13m 2m bonus on a five-year deal. July 18 Another move that has long been in the making is now over the line. (news.financializer.com). As reported in the news.

perspective share: Amazon reported that it had its best-ever Prime Day this year, but data from various sources suggest that they weren't the only winners, according to The Independent. Other retailers including Best Buy and Nike saw their online sales improve dramatically year over year. Retail I cover online marketplaces from a retail brand's perspective Share to facebook Share to twitter Share to linkedin Getty Prime Day, Amazon's made-up shopping holiday, is five years old now, but this year signaled a shift in competitors taking the event seriously. Adobe Digital Insights found that the largest retailers those with revenues over 1 billion saw their average daily revenues jump by 54% on Monday, and 72% on Tuesday. Gap, Nike, Best Buy and Macy's saw the largest gains in sales, found Jumpshot research. Meanwhile, small-to-medium sized retailers saw a 28% increase in sales. (news.financializer.com). As reported in the news.

tourist yen: The film industry in Japan is big business, according to The Japan Times. The most successful films, if well-shot and scouted, can become a catalyst for widespread tourism to prominent locations, providing valuable tourist yen and cultural capital, particularly to more regional areas that might otherwise struggle to attract visitors. ; The Japan Film Commission, the national body designated the task of arranging locations for both domestic and international film crews, is well aware of this phenomenon and openly lists the incentives provided by prefectural bodies hoping to attract productions Individual budgets stretch to as high as 10 million 92,000 per project and are accompanied by offers of assistance with location scouting and arranging permits. Your Name. and Spirited Away. The most successful films can become a catalyst for widespread tourism to prominent locations, providing valuable tourist yen and cultural capital to those areas. Increasingly, tourists are influenced by film when making decisions on their holiday destinations, and governments both local and national often see these subsidies as long-term investments as part of broader revitalization strategies. In May, the Cabinet Office launched its Empirical Research Project on Attracting Foreign Film Projects to Promote Regional Economies with the aim of supporting a portion of the cost of production for foreign films, TV, etc., shot and produced in Japan. (news.financializer.com). As reported in the news.

west texas: For the record, this week's count of U.S oil rigs in operation the most widely-quoted data point fell by 4 to 954, according to The Independent. That's down 79 rigs from the year-ago figure and it is clear that the sweet spot that West Texas Intermediate crude oil futures seem to have found between 50 and 60 per barrel is tamping down demand for drilling equipment. Markets Share to facebook Share to twitter Share to linkedin The announcement of the Baker Hughes rig count used to be a must-watch data point every Friday at 1 PM. Technically that data is now supplied by the entity known as Baker Hughes a GE Company and today it seems that data has lost as much relevance as GE has in the S&P 500. Yet, a look at the EIA's data shows that U.S oil production ran at a 12 million barrels per day mmbpd pace last week, up a full 1 million barrels per day over the corresponding week in 2018. Lev Fedoseyev/TASS Photo by Lev Fedoseyev TASS via Getty Images Lev Fedoseyev/TASSIt is much, much easier to produce oil than it used to be. Production has fallen a smidgen lately the EIA figure was 12.3 mmbpd two weeks ago but the fact that the U.S. continues to produce at near-record levels on fewer rigs shows a basic truth in the oil game.MURMANSK REGION, RUSSIA - JULY 5, 2019 Acting Murmansk Region Governor Andrei Chibis rides a bicycle on his visit to the Nanhai VIII semi-submersible drilling rig in the Kola Bay. (news.financializer.com). As reported in the news.

friday morning: But when the court reconvened on Friday morning after a 48-hour adjournment at his request, the 77-year-old's politician's lawyer, Muzi Sikhakhane, said he would take no further part in proceedings, according to The Guardian. Sikhakhane said Zuma had been subjected to relentless cross-examination in a process that had become political . Late on Friday his legal team said a compromise had been reached and the former president had agreed to submit statements to the inquiry in response to specific questions. Zuma was scheduled to give evidence throughout the week. The inquiry is mandated to investigate allegations of state capture in South Africa during Zuma's presidency, which ended last year when he was ousted amid graft allegations. The report, which stopped short of asserting criminal behaviour had taken place, called for an investigation into whether Zuma, some of his cabinet members and some state companies had acted improperly. It was set up after an ombudsman's report uncovered apparent evidence of improper contact between three wealthy businessmen brothers, Atul, Ajay and Rajesh Gupta, and senior officials in Zuma's administration. (news.financializer.com). As reported in the news.

israel: Much of the rebuke, however, was over what Dean wrote after his Israel zinger he seemed to suggest that Jews were made noble because of anti-Semitism, according to MSNBC. Here's his full tweet Israel's government has lost its soul and its purpose. Predictably, Dean's tweet from Friday, which was inspired by an Israeli Cabinet minister's endorsement of conversion treatment for gay people and his support of annexing the West Bank, set off a Twitter storm. The nobility of the Jewish people conferred by their terrible suffering is being squandered by cheap bigoted political crooks. Israel's government has lost its soul and its purpose. The result will ultimately be the loss of a Jewish homeland which would be an unspeakable tragedy. (news.financializer.com). As reported in the news.

interest rate: Gold prices have been boosted by the fall in bond yields or the interest rate paid out by bond issuers which move inversely to their prices, according to The Guardian. Many of the safest sovereign bonds are now negative-yielding, meaning that investors are effectively paying for the privilege of lending money to borrowers, with the upshot that gold is more attractive. The price of one troy ounce of gold peaked at 1,452.60 on Friday morning, the highest point since May 2013, with fears over the Persian Gulf standoff also driving up the price of a commodity that is viewed as a market refuge during geopolitical crises. Investors also tend to buy gold, which has relatively little practical value and yields no income, in times of geopolitical uncertainty. Gold graphic The decline in bond yields around the world has been the most important driver in gold's price rises, said Oliver Jones, a senior markets economist at Capital Economics, a London consultancy. Iran on Friday denied that a US warship shot down one of its drones in the strait of Hormuz, contradictingthe US president, Donald Trump. (news.financializer.com). As reported in the news.

planes: From American Airlines to United, here are all the carriers that have grounded their 737 Max planes, according to Xinhua China. Visit Business Insider's homepage for more stories Boeing 737 Max jets around the world will likely remain grounded until the end of the year, because of work being done to correct technical anomalies that are blamed for two deadly crashes involving the planes. Lindsey Wasson/Reuters Airlines around the world have grounded the Boeing 737 Max plane following two deadly crashes. Here is a list of all the airlines that have grounded the 737 Max 8s. Source Aerol neas American Airlines American Airlines American Airlines extended its 737 Max grounding through November 2, cancelling 115 flights per day. View As One Page CNN, El Universal Aerol neas Argentinas Aerol neas Argentinas Of the 82 aircraft that make up Aerol neas's fleet, five of them are Boeing 737 Max 8s. (news.financializer.com). As reported in the news.

twitter followers: The 53-year-old writer routinely posted satirical commentaries critical of the Chinese government to his nearly 130,000 Twitter followers before his detention in January, during a visit to see family in China, according to CNN. Australia continues to have consular access and have again asked that Yang be granted immediate access to his lawyers, the Australian foreign ministry spokesperson said. Yang Hengjun's family had earlier told the Australian embassy in Beijing that the writer had been taken to the facility, an Australian foreign ministry spokesman confirmed in a statement Thursday. Mo Shaoping, Yang's Beijing-based lawyer, told CNN on Friday that his client's detention status changed Wednesday but his case remained under investigation. Read More Yang's case has drawn widespread attention amid growing international concern over the detention of foreign citizens in China during geopolitical disputes, though China denies the arrests are politically motivated. Mo added that he was still not allowed to meet Yang due to the national security nature of his case. (news.financializer.com). As reported in the news.

attention vietnam: Vietnam has a weak economic foundation, according to Global Times China. Though an important producer of rice, Vietnam once faced problems even feeding its people. Why has Hanoi grabbed US President Donald Trump's attention Vietnam's remarkable economic growth is one of the reasons. In 1986, this Southeast Asian country implemented doi moi, an open door market-oriented policy that has helped it grow rapidly. According to the General Statistics Office of Vietnam, in 2018, the agriculture, forestry and fishery sectors grew by 3.76 percent, the industry and construction sector 8.85 percent and the services sector 7.03 percent. Vietnam's economy has been growing at a high rate especially in the past decade, with the GDP clocking a growth of 7.08 percent in 2018, the highest since 2008. (news.financializer.com). As reported in the news.

airline customers: The costs will clip 5.6 billion from revenue and pretax earnings in the quarter. ; Investors will be parsing the company's results, slated for July 24, for details of the financial blow that Boeing is absorbing as it churns out the single-aisle aircraft while waiting for regulators to clear the Max to resume commercial flights, according to The Japan Times. Boeing was little changed at 361 after the close of regular trading in New York. The after-tax charge, equivalent to 8.74 a share, covers potential concessions and considerations for airline customers who have been forced to cancel thousands of flights and line up replacement aircraft since the Max was grounded in March, the company said in a statement Thursday. The Max, Boeing's best-selling jet, has been grounded since March after two flights crashed within a five-month span, killing 346 people. Boeing's first-quarter profit margins were dented by 1 billion in estimated costs after it cut factory output of the narrow-body jets following the global grounding. The disasters and questions about the aircraft's design have engulfed the Chicago-based plane-maker in one of the worst crises in its century-long history. (news.financializer.com). As reported in the news.

contract trading: Gold futures are up nearly 13% so far this year, by comparison, based on the most-active August contract trading on Comex GCQ19, -0.11% according to Fact Set data, according to Market Watch. Prices of the yellow metal carved out a fresh six-year high at 1,428.10 an ounce, and gold miners have apparently been big beneficiaries. The Van Eck Vectors Gold Miners ETF GDX, -0.96% boasts a roughly 33% year-to-date gain, far surpassing gains of the underlying metal. Jeff de Graaf, technical analyst at research firm Renaissance Macro, said he sees room to run for gold and specifically the mining ETF in a Thursday research note. To put the gains for the GDX, referring to the ETFs ticker symbol trading on the NYSE Arca, into perspective, the Dow Jones Industrial Average DJIA, -0.25% is up nearly 17% in 2019 so far, the S&P 500 SPX, -0.62% has gained more than 19%, while the Nasdaq Composite Index COMP, -0.74% boasts a rich 24% climb over the past seven months. We see momentum building in the miners again and it's likely that the next leg higher is starting with yesterday's breakout, the analyst wrote. (news.financializer.com). As reported in the news.

kansas city: Indeed, about one in three Americans now say real estate is their preferred way to invest for the long-term the highest percentage to date, according to Market Watch. The stock market is a distant second, with 20% choosing it as their top choice for a long-term investment vehicle. When asked their preferred way to invest money they won't need for more than 10 years, Americans' No. 1 choice is real estate, according to a survey of more than 1,000 adults from personal finance firm Bankrate. The reason most people feel real estate is the most preferred option is because it is tangible and they understand it, explains certified financial planner Mitchell C. Hockenbury of 1440 Financial Partners in Kansas City, Mo. And McBride notes that the short-term drops in the stock market do seem to have an outsized impact on how individual investors view risk, even though that risk diminishes over longer holding periods. And Greg McBride, Bankrate's chief economist, notes that the tangible nature of real estate likely makes it seem less prone to loss than the more abstract ownership stake in publicly traded companies held in your ETF. Meanwhile, buying equities isn't tangible to most, adds Hockenbury. (news.financializer.com). As reported in the news.

rush: As pictures of the inferno are beamed around the world, adjectives rain down it is atrocious, disastrous, diabolical, according to The Guardian. Barely has the fire been put out before some of the richest people in France rush to help rebuild it. One of the most ancient and holy buildings on Earth, Notre Dame cathedral in Paris, goes up in flames. From Fran ois-Henri Pinault, the ultimate owner of Gucci, comes 100m 90m . Not to be outdone, the Arnault family at Louis Vuitton put up 200m. Within just three days, France's billionaire class has coughed up nearly 600m. More of the wealthy join the bidding, as if a Damien Hirst is going under the hammer. (news.financializer.com). As reported in the news.