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

cabinet office: The projections are relatively optimistic compared with private sector growth estimates of 0.5 percent for both years, according to The Japan Times. The projections, based on data as of the end of June, will be used as the basis for government panel discussions on the fiscal 2020 budget. For the year through March, gross domestic product, or the total value of goods and services produced in the country, will expand 0.9 percent in real terms, the Cabinet Office said Monday, revising downward its forecast from 1.3 percent. ; The economy is projected to grow 1.2 percent in fiscal 2020, due to a potential pickup in exports and expectations that consumer and capital expenditures will be solid, a government official said. Exports are projected to grow 0.5 percent this year, slowing from the earlier forecast of 3.0 percent, amid trade tensions between the United States and China. Capital spending is predicted to expand 2.5 percent, compared with 2.7 percent in the previous projection, as firms continue to boost investment amid the labor shortage. Private consumption, which accounts for more than half of Japan's GDP, is estimated to increase 0.9 percent, down from the January forecast of 1.2 percent. (news.financializer.com). As reported in the news.

ftse ukx: The U.K. FTSE 100 UKX, -0.37% gained 1.81% to 7,686.61, its best one-day performance since Feb. 5, according to Market Watch. Gains accelerated as the pound weakened on concerns the U.K. could leave the European Union without an agreement. The Stoxx Europe 600 index SXXP, -0.08% rose 0.14% to 391.28. Read British pound collapses on no-deal Brexit concerns The German DAX DAX, 0.10% increased 0.08% to 12,430.32 and the French CAC 40 PX1, 0.04% inched up 0.01% to 5,610.73. The Dow Jones Industrial Average DJIA, -0.09% meanwhile didn't see much movement, as U.S. markets are largely frozen ahead of Wednesday's Federal Reserve interest-rate decision. What's moving markets News that Prime Minister Boris Johnson did not plan to meet EU leaders unless they are willing to modify the withdrawal agreement seemed to accelerate sterling's losses, and conversely, helped U.K. equities rise. (news.financializer.com). As reported in the news.

cp group: China will turn into the world's largest market in the future as its middle-income group has exceeded 400 million and continues to grow, according to Global Times China. A typical example of the marked expansion of the Chinese market is CP Group's factory in Qingdao, East China's Shandong Province, which used to export nearly all its products to Europe, the US and Japan just 40 years ago. Demand has become the vital element for the markets of the future, Yang told Xinhua in an interview. Now 70 percent of the products are sold in China, while exports account for only 30 percent of the total output, Yang said. Over 60,000 overseas companies were newly established in China last year, surging 69.8 percent year-on-year, data from the Ministry of Commerce MOFCOM showed. As the first foreign company entering China after the country adopted an opening-up policy, CP Group has benefited from the expansion of the Chinese market, establishing over 400 enterprises in various sectors and generating a yearly sales volume of nearly 130 billion yuan 19 billion . Yang applauded China's opening-up and encouraged the country to continue opening up its market to the world. (news.financializer.com). As reported in the news.

dow jones: The Dow Jones Industrial Average DJIA, -0.09% meanwhile, has not been far behind; it's up 16.5% since the start of the year, according to Market Watch. But with the S&P 500 already sitting comfortably above many strategists' year-end targets, some analysts and investors are approaching the rest of the year cautiously, as rising valuations, policy uncertainty and economic weakness abroad raise questions as to how long the stock market can keep up its torrid pace. The S&P 500's SPX, -0.26% nearly 21% year-to-date advance marks the best run for the index through July 26 since 1997, according to Dow Jones Market Data, and the Nasdaq Composite COMP, -0.24% as had an even better year, up 25.5% for 2019. I thought 2,950 would be a ceiling for this year, and we are already higher than it, Bob Doll, chief equity strategist and senior portfolio manager at Nuveen, told Market Watch, predicting the market will go nowhere in the second half. While second-quarter GDP growth reflects a slowing but healthy U.S. economy, data abroad show a worsening slowdown, which will likely affect U.S. markets one way or another. Price-to-earnings ratios have gone from 13 to 17.4, and earnings estimates are still too high for next year, Doll said, adding that higher valuations and future reductions in earnings estimates will be headwinds for stocks in the second half, along with a Federal Reserve policy that he predicts will be more hawkish than the market expects, unless a more damaging economic downturn materializes. (news.financializer.com). As reported in the news.

france italy: While the ECB refrained from changing policy in July and even went as far as to indicate it saw a low risk of a recession for the eurozone, the economic data over the past months tell a far different story, according to Global Times China. Draghi himself even warned that the economic outlook was getting worse and worse. And the downbeat narrative provided by ECB policymakers, along with the terrible data out of the eurozone in recent weeks inspired investor expectations that the ECB would begin yet another round of monetary easing. Considering the importance Europe holds to the global economy, where three of its nations Germany, France and Italy are in the world's 10 largest economies, more attention to the state of European economic affairs is required. With all this coming together at a time where senior political influencers are making regular comments on central bank policies, not enough attention is paid to the dismal run of economic data that Europe is displaying. Investor attention is focused on challenges away from macro data - the unpredictability of the Donald Trump administration, how unprepared the UK is for Brexit with less than 100 days to go, global trade relations, geopolitics and the risk of another period of isolation for Iran. (news.financializer.com). As reported in the news.

bank: Others set to join include Apple Inc. and Taiwan's Hon Hai Precision Industry Co, according to The Japan Times. Foxconn both investors in the first fund. ; Notable for their absence on the list of state and corporate backers were the sovereign wealth funds of the two countries that formed the cornerstone of its first fund Saudi Arabia and Abu Dhabi, as well as investment bank Goldman Sachs. The Japanese conglomerate itself plans to invest 38 billion in the fund, it said in a statement. Soft Bank said it is still talking to potential investors and that it expects the fund's anticipated capital to grow. Those close links later compelled Soft Bank founder and Chief Executive Masayoshi Son to defend the relationship after Saudi security personnel were accused of murdering Jamal Khashoggi, a journalist critical of the Saudi state. Saudi Arabia's Crown Prince Mohammed bin Salman told Bloomberg in October his country was ready to commit a further 45 billion through its Public Investment Fund PIF adding Without the PIF, there will be no Soft Bank Vision Fund. (news.financializer.com). As reported in the news.

blog post: These incidents have ... damaged Hong Kong's international image and business environment, Chan wrote in a blog post, according to CNN. For foreign companies and tourists, Hong Kong seems to have become turbulent and insecure, affecting their desire to travel, do business and invest in Hong Kong. Paul Chan, the top finance official in Asia's premier financial hub, said Sunday that the city's mass demonstrations have hurt local merchants and worried all those who are in Hong Kong. Many retail and catering operators have said recent business volume has dropped significantly, he added. Thousands of protesters defied police orders Sunday to march through the center of the city. Beijing to speak out after weeks of Hong Kong protests Chan's remarks came during the eighth consecutive weekend of demonstrations in the city, which is technically a part of China but operates with its own police force and legal system. (news.financializer.com). As reported in the news.

permian basin: Energy We are thought leaders in energy from the University of Houston, according to The Independent. Post written by Ramanan Krishnamoorti, Chief Energy Officer and S. Radhakrishnan, Managing Director, UH Energy Tweet This Most of the additional 4 million barrels per day of crude coming out of the Permian Basin over the next five years will have to be exported Independent producers, especially, must adapt to market realities and become adept at maneuvering through the export process Share to facebook Share to twitter Share to linkedin In the evening, the outline of the oil pump Getty The shale revolution has demonstrably increased the production of crude oil from the U.S. and given the country the title of the world's largest oil producer, even if it lasted only briefly. Now What performance.mark performance.mark function s ; University of Houston Energy Fellows Contributor University of Houston Energy Fellows Contributor Group Opinions expressed by Forbes Contributors are their own. The increased output from the Permian Basin, located in West Texas and Southeastern New Mexico, has been the biggest contributor to this growth. The key implications of this work are summarized here. We conducted a recent study on the rapidly growing production from the Permian Basin and the attendant consequences on the energy business in the U.S. The key findings were validated through conversations with members of industry, government and infrastructure leaders. (news.financializer.com). As reported in the news.

gaap: First Quarter Fiscal 2020 Highlights Net Sales 6.2 billion, year over year revenue down 3%;GAAP Income Before Income Taxes 64 million;Adjusted Operating Income 208 million;GAAP Net Income 45 million;Adjusted Net Income 138 million;GAAP Net Income Per Share 0.09;Adjusted 0.27 For the first quarter, I am pleased that we achieved adjusted EPS within guidance range and 11% year-over-year growth in adjusted operating profit with a free cash flow of 114 million, according to The Independent. We are repositioning our portfolio to reduce exposure to high-volatility, low-margin business while investing in design-led wins and higher-margin segments, Flex CEO Revathi Advaithi said. Related CONTENT3M Reports Fourth Quarter, Full Year 2018 Results Flex Reports Third Quarter Fiscal 2019 Results Emerson Reports 1Q 2019 ResultsNXP Semiconductors Reports 4Q, Full-year 2018 Results Flex Appoints Revathi Advaithi as CEO ; 07.29.19Flex announced results for its first quarter ended June 28, 2019. This acceleration of our strategy to reposition our mix and drive profitable growth combined with disciplined execution positions Flex well for the future. Cash flow from operations was negative 657 million for the three-month period ended June 28, 2019, primarily due to cash collections of 899 million for certain receivables sold under the Company's ABS programs reported as investing activities. Flex ended the quarter with approximately 1.9 billion of cash on hand and total debt of approximately 3.2 billion. (news.financializer.com). As reported in the news.

morning session: On Friday, the key market gauge sagged 98.40 points. ; The Topix, which covers all first-section issues on the Tokyo Stock Exchange, was 2.95 points, or 0.19 percent, lower at 1,568.57 after dropping 6.33 points Friday, according to The Japan Times. The market was weak from the beginning of the morning session, pulled down by the yen's relative strength and profit-taking mainly in semiconductor-related issues, such as Tokyo Electron, brokers said. The Nikkei 225 average fell 41.35 points, or 0.19 percent, to end at 21,616.80. The market moved narrowly in negative territory for the rest of the day, weighed down by the weakness of other Asian stock markets, especially Hong Kong and South Korea, they added. Investors refrained from active selling or buying in the afternoon before earnings announcements by major Japanese companies, such as industrial robot producer Fanuc and electronics giant Hitachi, and the U.S. Federal Reserve's policy meeting that starts Tuesday, said Tomoaki Fujii, head of the investment research division at Akatsuki Securities Inc. Brokers also cited concerns over the course of U.S.-China trade talks after U.S. White House economic adviser Larry Kudlow said on CNBC that he would not expect any grand deal in the negotiations to be held in Shanghai starting Tuesday. (news.financializer.com). As reported in the news.

percent increase: Fu Liang, a Beijing-based independent industry analyst, told the Global Times on Monday that Huawei is expected to see an around 30 percent revenue growth in the first half of 2019, according to Global Times China. The company has an abundant business operation system, which could help it to diversify its risks and obtain continuous revenue growth, he said. Photo IC Chinese technology giant Huawei is scheduled to release its first-half financial statements on Tuesday, and both domestic and foreign analysts have estimated a 30 percent increase in revenue though US government has placed the company on a blacklist. Revenue growth was mainly supported by Huawei's strongly expanded consumer business, especially in China, which was not affected by the US ban, Fu noted. In 2018, the company's consumer business sales grew 45.1 percent year-on-year, accounting for almost half of the company's total revenue. According to the Xinhua News Agency, Huawei's core business used to be its mobile network business, which meant selling gear to mobile carriers, but in recent years its consumer businesses -- selling smartphones and other devices -- directly to the general public expanded strongly. (news.financializer.com). As reported in the news.

west texas: Last week, both U.S. benchmark WTI and Brent saw weekly rises of around 1.5%. Oil has struggled to rally convincingly despite a string of six weekly declines in U.S. inventories and rising geopolitical tensions between Iran and other countries, notably the U.S. and Britain in the Strait of Hormuz, a key chokepoint for global oil transport, with around a third of global seaborne oil trade passing through the waterway, according to Market Watch. Washington's decision last May to pull out of a 2015 Iran nuclear deal set the stage for increased animosities in the region. West Texas Intermediate crude for September delivery CLU19, 0.50% on the New York Mercantile Exchange rose 67 cents, or 1.2%, to close at 56.87 a barrel, while October Brent crude BRNV19, 0.74%, the global benchmark, rose 15 cents, or 0.2%, to 63.62 a barrel on the ICE Europe exchange. On Monday, the U.K. sent a warship to escort its vessels in the area and warned Tehran that it must release a British-flagged vessel seized this month. We believe the window for upward price movement is rapidly closing, and we are lowering our conviction in tandem, they wrote. Analysts at Macquarie Capital, in a Monday note, said the bullish trend in U.S. crude inventories, which fell 10 million barrels last week, remains supportive for the short-term outlook, but they expressed worry about longer term prospects against a backdrop of diminishing economic optimism and ample global supply. (news.financializer.com). As reported in the news.

brexit plan: Johnson's new Conservative government will spend some 100 million pounds A179 million on advertising over the next three months as a major part of the campaign, the newspaper quoted unidentified government sources as saying, according to Nine News Australia. UK Prime Minister Boris Johnson, in a bid to rally the public behind his Brexit plan, will launch the biggest government propaganda campaign since World War II. Getty It said the drive will be the biggest advertising campaign since the Second World War to get Britain ready for a no-deal Brexit, with an unprecedented marketing blitz on billboards, radio and television. To improve your experience update it here News World Johnson launches biggest proaganda drive since WWIIBy AAP11 20pm Jul 29, Prime Minister Boris Johnson is to launch the biggest government propaganda campaign since World War II in a bid to rally the public behind his Brexit plan, The UK's Daily Telegraph reports. Scottish First Minister Nicola Sturgeon, who is scheduled to meet Johnson on Monday, tweeted that the reported funding of the campaign was a shameful waste of money. His government is operating on the assumption that Britain will leave without a deal, Cabinet Office minister Michael Gove wrote in The Sunday Times. Johnson has vowed to withdraw Britain from the EU by the delayed exit date of October 31, with or without a deal. (news.financializer.com). As reported in the news.

feedback: Financial comparison site Canstar rated Australia's supermarkets based on the feedback of 2897 consumers who had visited one in the past month, according to Nine News Australia. It's the seventh time in nine years the German chain has come out on top. To improve your experience update it here News National The results are in Australia's favourite supermarket revealed By Lauren GolmanA Current Affair Staff7 47pm Jul 29, 2019Facebook Tweet Mail The results are in, and it's official - Aldi is Australia's favourite supermarket. Aldi has been rated as Australia's favourite supermarket. That means our fruit and veg, our meat, right across the range, he said. A Current Affair Aldi's Adriad Christie told A Current Affair the supermarket had been focusing on improving the quality of its fresh products. (news.financializer.com). As reported in the news.

people shot: At a community celebration in Brownsville, Brooklyn, gunfire erupted late Saturday and left 12 people shot, one of them dead, according to MSNBC. De Blasio staying off the campaign trail and in New York for the second straight weekend and his police commissioner James O'Neill were on the scene Sunday, promising that the shooters would be brought to justice. Facebook Twitter Email Print Old Timers' Day block party fallout Another NYPD suicide MTA contractors' cozy Cuomo ties Nadler, Schumer talk Trump impeachment By ERIN DURKIN and NICK NIEDZWIADEK 07/29/2019 07 23 AM EDTPresented by Campaign for Tobacco Free Kids The safest big city in America, as Mayor Bill de Blasio often likes to call it, is grappling with a stark reminder of the toll gun violence has on its neighborhoods. Shootings are up citywide this year, but in Brownsville, long troubled by violence, they had begun to decline. Councilwoman Alicka Ampry-Samuel told The New York Times that an aide grabbed her to run to a car for cover as the shots rang out. Assemblymembers Latrice Walker and Charles Barron, and City Council Member Inez Barron were among the sponsors of the popular Old Timers' Day celebration, which had been held for decades without violence until this weekend. (news.financializer.com). As reported in the news.

reserve bank: Nine finance editor Ross Greenwood said while a record stock market is positive, there is still a lot of uncertainty over Australia's economy, according to Nine News Australia. You still have firms really concerned, you still have house prices not moving and you have the messages coming out the Reserve Bank for goodness sake - they are saying they are worried about the economy and considering cutting interest rates again, he told Today. To improve your experience update it stock market to face biggest test after record highs By 9News Staff10 41am Jul 29, 2019Facebook Tweet Mail The Australian stock market has hit record highs on the back of recent tax and rate cuts, but it will face its biggest test in the coming days when companies disclose their full year results. Experts claim Australia's economy is at a very confusing period. If company profits are disappointing or if they have outlooks that are not so good, many of these companies that have sent the Australian stock market to record highs are going to come crumbling down very, very quickly, he said. AAP Mr Greenwood said he doesn't expect stock brokers and investment firms to celebrate until full yearly results have been disclosed by companies. (news.financializer.com). As reported in the news.

shootings: Within a month, the hospital's 2,572 staff will all have been laid off, and the doors will close, leaving a gaping hole in the city's ability to serve its poor not to mention any victims of trauma, like shootings or car accidents, according to CNN. But last week, it released its last patient. (news.financializer.com). As reported in the news.

apple aapl: Consensus figures currently model a substantial sales drop for the September quarter, and a decline of more than 9 billion for the full fiscal year, more than 3%. Apple has seen sales decline year over year for a full fiscal year, and for three of the four fiscal quarters, only once since 2001, according to Market Watch. That down year was 2016, when Apple was feeling the hangover of its iPhone 6 sales cycle and sported revenue declines for its entire fiscal year. The iPhone maker's revenue declined in each of the first two quarters of this fiscal year, and it's possible the company could record another drop when Apple AAPL, 0.93% reports fiscal third-quarter earnings Tuesday, with forecasts calling for basically flat sales from a year ago. Nowadays, the drops aren't as steep, but Apple's expected rebounds aren't expected to be as pronounced either it will be hard to once again dramatically increase the price of an iPhone, as Apple did to bounce back from those tough times. See also Rush to beat China tariffs drives PC shipments higher, but that may bode ill for rest of 2019 Meanwhile, Apple is staring down what is largely expected to be another iPhone cycle without huge growth this fall, as consumers fail to find reasons to upgrade to new smartphones that offer only slight tweaks. The key catalyst for Apple's iPhone business is its launch of 5G-enabled devices, but that's not supposed to happen until next fall. (news.financializer.com). As reported in the news.

development experience: Preventing China from gaining leadership in the world is a wishful surmise of the US within its own set of topics, which suggests that China will do whatever the US asks and hopes it to, according to Global Times China. This is definitely impossible. China never seeks to be a leader of the world, but it will also never be a vassal of the US or it will never desist from developing just because it actually leads in some fields. Currently in some fields China has made advanced achievements and even leads the world. China's development experience is also welcomed by many developing countries. China is narrowing the gap with the US in some fields and increasing its influence. (news.financializer.com). As reported in the news.

dollars flow: And money from the fossil fuel industry has become a prickly issue in the race, as tens of thousands of dollars flow to independent committees that the candidates themselves cannot legally control, according to The Independent. Two groups affiliated with the petroleum industry chipped in 20,000 in May for a political action committee that backed John Lee, a former City Hall aide vying for the council seat. Now two candidates are facing off to represent this and other parts of the northwestern San Fernando Valley on the Los Angeles City Council. Backers of Loraine Lundquist, a college educator and astrophysicist who has made climate change a central issue in her campaign, have made hay of that fact. And that was caused by the fossil fuel industry, said Councilman Mike Bonin, who has endorsed Lundquist. This is a district that experienced a huge environmental catastrophe that threw people out of their homes for months. (news.financializer.com). As reported in the news.

drug abuse: Elijah Cummings, D-Md., and the Baltimore district that Cummings represents in Congress, according to The Independent. But just a few years ago, Sen. Check out what's clicking on Foxnews President Trump drew a torrent of criticism from Democrats on Saturday over a series of Twitter messages aimed at U.S. Rep. Bernie Sanders -- a candidate seeking the Democratic Party's 2020 presidential nomination -- took his own shots at Baltimore, a struggling Northeast city grappling with high rates of violent crime, drug abuse, poverty and political corruption. You would think that you were in a Third World country. Anyone who took the walk that we took around this neighborhood would not think you're in a wealthy nation, Sanders said during a visit to the city's West Baltimore section in December 2015, the Baltimore Sun reported. (news.financializer.com). As reported in the news.

hong kong-based: Now one of Asia's top financiers and the head of Hong Kong-based private equity firm PAG, Shan told AFP that reading virtually anything he could get his hands on effectively saved his life, providing an escape from the harsh realities of Mao Zedong's oppressive regime. ; I feel like I have lived 5,000 years, Shan said, with his recently published memoir, Out of the Gobi, recounting a life that mirrors China's shape-shifting trajectory, according to The Japan Times. We were all deprived of a formal education for 10 years, he said, referring to China's Lost Generation young men and women who were banished to Inner Mongolia in 1969 and expected to transform an arid landscape into fertile fields. But his sense of hope was kept alive by an unlikely source insecticide manuals. I didn't completely give up, he said. Yanked out of school in Beijing at the age of 12 during the Cultural Revolution, Shan, like millions of youth, was gripped by revolutionary fervor. I read whatever I could sometimes insecticide manuals, sometimes dictionaries. (news.financializer.com). As reported in the news.

job seekers: After the two-day meeting, a quarterly growth and price outlook report will also be released, according to The Japan Times. Tuesday Bank of Japan Gov. The focus is whether the central bank will change its policy at a time when the U.S. Federal Reserve and the European Central Bank are considering additional monetary easing amid signs of global economic stagnation in the wake of the lingering trade dispute between the United States and China. Haruhiko Kuroda to hold news conference. Ministry of Health, Labor and Welfare to release ratio of job offers to job seekers for June. Ministry of Internal Affairs and Communications to release unemployment rate for June. (news.financializer.com). As reported in the news.

market committee: On the other hand, U.S. stock prices are near record highs, according to Market Watch. So a prudent strategy for dividend investors might be to scour the U.S. for underperforming shares of companies that generate enough cash to cover payouts. The U.S. Federal Reserve, European Central Bank, Swiss National Bank and other central banks around the world are in loosening mode, which is pushing down interest rates and inadvertently hurting income investors. Fed frenzy Investors are convinced the Federal Open Market Committee will start a new round of interest-rate cuts as early as July 31. As absurd as that might seem, especially when developed economies aren't in recession, this type of craven monetary policy has gone mainstream. There has been plenty of discussion in the financial media about the Fed needing to compete with other central banks, whose policies have led to 13 trillion in bonds with negative yields. (news.financializer.com). As reported in the news.

district: Trump lashed out at another prominent African American lawmaker on Saturday, tweeting that his Baltimore district is a disgusting, rat and rodent infested mess, according to CNN. The President's tirade was directed at House Oversight Committee Chairman Elijah Cummings, who represents Maryland's 7th Congressional District in the House and recently lambasted conditions at the border. Instead, Charm City was quick to stand up and fight back. Trump's attack against Cummings was the latest verbal assault against a minority member of Congress who is a frequent critic of the President. Cummings, the city's leaders and residents were quick to defend Baltimore. Trump attacks another African American lawmaker, and calls Baltimore a 'disgusting, rat and rodent infested mess' The President suggested that conditions in Cummings' district, which is majority black and includes parts of Baltimore, are FAR WORSE and more dangerous than those at the US-Mexico border and called it a very dangerous & filthy place. (news.financializer.com). As reported in the news.

karya: Construction is due to begin next year on the second international airport which will be built in the northern Bali village of Kubutambahan, on the opposite side of the island to tourist favourites like Kuta and Seminyak, according to Nine News Australia. All the low-cost carrier in the north and the normal in the south, Indonesian Transport Minister Budi Karya Sumadi told 9News. To improve your experience update it here News World Exclusive Australians travelling to Bali could be sent to second airport hours from tourist hotspots By Renae Henry Asia Correspondent6 55pm Jul 28, travellers to Bali are in for a major shake-up with passengers flying low-cost carriers to land at a new airport located hours from holiday hotspots. The proposed space for Bali's second airport. 9News The Indonesian government is hoping to ease pressure on the existing Ngurah Rai International Airport in Denpasar, which is struggling to keep up with demand, and has no room for more runways. As a result, it's planning to confine low-cost carriers to landing at the new airport while Ngurah Rai will undergo further upgrades and be made exclusive to full-service airlines. It's also aiming to create a new tourism mecca in the island's underdeveloped north, which has a far more subdued vibe. (news.financializer.com). As reported in the news.