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

lee gardhouse: Hill has now decided to waive the payout, which was 1.7m last year, according to The Guardian. Hargreaves' chief financial officer, Philip Johnson, whose bonus was 997,000 last year, will receive no bonus for 2019, along with Mark Dampier, the research director, and Lee Gardhouse, the chief investment officer, whose pay is not disclosed. Chris Hill, Hargreaves' chief executive, had previously said he would not take his bonus until Woodford's equity income fund reopens. A source at the investment group said Chris believes this is the right thing to do. This demonstrates his and Hargreaves Lansdown's continued focus on putting clients first. He recognises the impact that the gating of the Woodford fund has had on our clients. (news.financializer.com). As reported in the news.

marise payne: Amnesty International Australia is calling on Foreign Minister, Marise Payne, to demand the Middle Eastern country release 70-year-old Joseph Sarlak from detention, according to Nine News Australia. Joseph Sarlak in a prison hospital in Qatar two years ago. To improve your experience update it Human rights campaigners urge foreign minister to intervene in case of grandad jailed over bounced cheques in Qatar By Sarah Swain1 14pm Aug 7, rights campaigners are urging the federal government to intervene and bring an Australian grandfather jailed in Qatar back home. Nine As reported by nine.au, Mr Sarlak's family fear he may die if he's not released as he has heart problems and other serious health issues. It is believed he was never given a trial, had no lawyer and was made to sign a confession in Arabic. Mr Sarlak, who lived in Albury NSW, was jailed in 2016 over allegations around bounced cheques - a criminal offence in the country - related to his building firm. (news.financializer.com). As reported in the news.

media industry: Ross Dunkley, a pioneer in the media industry in Southeast Asia over the past 20 years, has been sentenced to 13 years' jail by a court in Yangon, Myanmar for possession of drugs, according to Nine News Australia. The sentence was handed down on Wednesday after the Perth-born Dunkley and his co-defendants had spent more than one year languishing in the hospital wing of Myanmar's notorious Insein prison, a massive colonial-era jail built by the British in colonial times, as the case slowly proceeded through the court. To improve your experience update it here News World Australian publishing pioneer jailed for drugs in Myanmar By AAP10 08pm Aug 7, 2019Australian journalist Ross Dunkley, editor of the Yangon-based English language weekly The Myanmar Times, has been jailed for 13 years in Myanmar for drug possession. Dunkley was arrested on June 6 last year when police raided the home he rented and shared with co-defendant and British national John McKenzie in Bahan township, a suburb of Yangon. Ross Dunkley after his first court appearance in 2015. A number of local women present in the house were also arrested and were sentenced to 11 years. (news.financializer.com). As reported in the news.

harm: However, health experts warned that the NHS had a poor record with technology and any new systems would need robust evaluation to ensure they did more good than harm as well as proper implementation with safety standards and training, according to The Guardian. They also raised concerns over where the money was coming from and whether it was the result of trade-offs elsewhere in the cash-strapped health service. The prime minister claimed AI would transform care and cut waiting times as he announced the money for a national artificial intelligence lab, to work on digital advances to improve the detection of diseases by predicting who is most likely to get them. AI is already being used in some hospitals to predict cancer survival and cut the number of missed appointments. On Tuesday, the prime minister promised 1.8bn towards the maintenance and rebuilding of crumbling hospitals, estimated to need a total of 6bn. It is used to identify those patients most likely not to turn up, who will then be given a reminder phone call. (news.financializer.com). As reported in the news.

rep: Carbajal Supports Trump Impeachment Local House Rep, according to MSNBC. Carbajal Supports Trump Impeachment News Report Aug 07 2019 08 42 AMby Edhat Staff76 Comments Reads 3720Rep. Carbajal Supports Trump Impeachment Edhat import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; import pas531 ; !function f, b, e, v, n, t, s if f.fbq return; n f.fbq function n.call Method n.call Method.apply n, arguments n.queue.push arguments ; if !f. fbq f. fbq n; n.push n; n.loaded !0; n.version '2.0'; n.queue ; t b.create Element e ; t.async !0; t.src v; s s window, document, 'script', fbq 'init', '471901383185385' ; fbq 'track', 'Page View' ; Skip to main content Edhat Top Menu Create an News Support Edhat Main Menu HomeSAN LUIS OBISPOVENTURANews Local Events Calendar Submit an Event Features Photo Collection Visitors Guide Contests Photo of the day Business UsTestimonials Submit News Create an News Support Edhat No current weather data LUIS OBISPOVENTURANews Local Events Calendar Submit an Event Features Photo Collection Visitors Guide Contests Photo of the day Business UsTestimonials Submit News Search form Local House Rep. Carbajal reminding residents to know their rights amidst immigration raids last month courtesy photo By edhat staff Local Congressman Salud Carbajal announced Friday he supports an impeachment inquiry into President Donald Trump. He also cited a full assessment of Special Counsel Robert Mueller's report and U.S. House testimony, and the Trump administration officials' continued dodging of congressional subpoenas as reasons for his support. Representing the 24th District, which includes all of San Luis Obispo and Santa Barbara counties as well as the Los Padres National Forest in Ventura, Carbajal states his conversations with Central Coast residents voicing their support led to this decision. (news.financializer.com). As reported in the news.

douglas witte: The Fed's interest-rate policy and the latest Trump tweet about Chinese tariffs would certainly seem to be far more relevant than Congress' summer holiday, according to Market Watch. But don't be too quick to dismiss this bullish view. What does that have to do with the U.S. market, where the Dow Jones Industrial Average DJIA, -0.09% has plunged some 1,600 points in the past couple of weeks including almost 800 points on Monday of this week alone. Research conducted by Michael Ferguson, a finance professor at the University of Cincinnati, and Hugh Douglas Witte, a finance professor at the University of Missouri at Columbia, found that more than 90% of the capital gains produced by the Dow since its creation in 1896 have come when Congress is out of session. At the 95% confidence level, of course, we should expect that 5% of the myriad patterns we investigate will appear to be statistically significant false positives that are completely worthless to the investor. Of course, one always worries when presented with results such as these that they are spurious, the result of nothing more than a shameless data mining exercise. (news.financializer.com). As reported in the news.

dow jones: China retaliated by lowering its currency below a key level, according to Market Watch. The Dow Jones Industrial Average DJIA, -0.09% fell almost 1,000 points before paring losses. It started last week when President Trump announced the imposition of new duties on 300 billion worth of Chinese goods. The U.S. responded by declaring China a currency manipulator. Then China attempted to defuse the situation by saying it's not a currency manipulator. Dow futures slumped another 600 points. (news.financializer.com). As reported in the news.

gordon: The deal would create a new publicly traded company, pay down the Village's debt, and relocate Gordon Pointe's headquarters to Canton, according to The Independent. It's expected to close sometime before the end of the year. Village CEO Mike Crawford shared those projections Tuesday during an investor call about the expected merger between Gordon Pointe Acquisition Corp. and the Village company. Immediate plans for the Village are to commence construction on a second, 300 million phase. Leadership spent 18 months looking at 300 businesses, many of which were financial or technology focused. Here's what was shared with investors Tuesday About how the deal happened Gordon Pointe is a special-purpose acquisition firm, which is a company that holds an initial public offering to raise money to invest in a business. (news.financializer.com). As reported in the news.

economy today: In addition, this attempt to play hardball with the Chinese side in these all too important discussions could totally poison the atmosphere for amicable talks with China on any issue in the future, according to Global Times China. It is highly unlikely that China will buckle to such high-handed tactics. It may also create a major blowout in international financial markets. China is proud of the accomplishments it has made during the last 40 years of reform and opening-up. For the real reason the US economy is in such dire straits - in contrast to what the president seems to believe, the US economy today is not a success story - is not because of trade with China. But the attempt by the US to force China to entirely abandon its successful industrial policy poses an existential threat to the world's second largest economy. (news.financializer.com). As reported in the news.

farm goods: It lost 27.58 points Monday, according to The Japan Times. The market suffered a precipitous fall right after the opening bell, with the Nikkei losing over 600 points as investors rushed to sell a broad range of issues in view of the Dow Jones Industrial Average closing 767.27 points lower Monday to mark the steepest closing point loss so far this year. The Nikkei 225 average fell 134.98 points, or 0.65 percent, to end at 20,585.31 after tumbling 366.87 points on Monday. ; The Topix, which covers all first-section issues on the Tokyo Stock Exchange, closed 6.65 points, or 0.44 percent, lower at 1,499.23. The U.S. government's designation of China as a currency manipulator and Chinese firms' halt in purchasing U.S. farm goods threw cold water over already shrunken investor sentiment amid the trade conflict between the two economic superpowers, brokers said. The yen's quick weakening against the dollar, the U.S. stock index futures market's recovery in off-hours trading and speculation about Bank of Japan purchases of exchange-traded funds prompted investors to buy back shares, brokers said. But after the initial wave of selling, both the Nikkei and Topix bounced back. (news.financializer.com). As reported in the news.

index comp: Investors took fright Monday as China allowed the yuan to slump to its lowest level in a decade after President Donald Trump's threat last Thursday to impose 10% tariffs against an additional 300 billion of imported Chinese goods, effective Sept. 1, according to Market Watch. How did benchmarks perform The Dow Jones Industrial Average DJIA, -0.09% rose 311.78 points, or 1.2%, to end at 26,029.52, while the S&P 500 index SPX, 0.08% climbed 37.03 points, or 1.3%, to close at 2.881.77, powered by a rally by the information technology XLK, 0.62% and communication services XLC, 0.12% sectors, while the Nasdaq Composite Index COMP, 0.38% surged 107.23 points, or 1.4%, to finish at 7,833.27. Stocks with business in China such as Apple, Micron Technology and Nike that were big losers on Monday led the gains Tuesday. On Monday, stocks had their worst day of the year, with the Dow shedding more than 767 points. The Nasdaq Composite shed 278.03 points to finish at 7,726.04, a decline of 3.5%. What's driving the market Traders were encouraged by China's central bank moving to restrain the fall in its currency with a fix Tuesday at 6.9683 yuan. The Dow ended the day down 2.9%, at 25,717.74, while the S&P 500 declined 87.31 points, or 3%, to close at 2,844.74. (news.financializer.com). As reported in the news.

investment: According to the conference, the start-up area of the Lingang New Area will cover 119.5 square kilometers, and it will have policies to facilitate investment and operation, trade and the flow of funds, according to Global Times China. Over the next five years, 100 billion yuan 14.2 billion will be allocated for investment in the Lingang New Area, Shanghai Vice Mayor Chen Yin said during the conference. The addition of the Lingang New Area to the Shanghai FTZ shows China's determination to open up its economy and facilitate freer activity in trade, investment and finance, and it will encourage a new round of opening up in the rest of China, according to experts. The New Area is not just simply an expansion of the Shanghai FTZ, it is a brand new investment with a higher standard and position, Chen said. Tax breaks, including a 15 percent preferential tax for companies in the integrated circuit, artificial intelligence and other leading industries in the first five years of operation, will be introduced to the new area. Apart from a large investment, policies will also be announced to attract more talent and international investment and companies to the new area. (news.financializer.com). As reported in the news.

ambient products: Domino's buys flour and cheese in the UK but it gets the tomato sauce for its pizza bases from Portugal, according to The Guardian. Other imported ingredients added to the stockpile include frozen chicken and all long-life ambient products, such as tuna and pineapple. The company said the probability of shortages of ingredients since its update in March had increased. British importers of perishable food are particularly exposed to the threat of a no-deal Brexit, which most trade experts believe would cause delays at the border and increase the possibility of higher prices. A potential no-deal Brexit carries the increased risk of disruption to raw material supplies into the UK and foreign exchange volatility which could increase food costs, Domino's said on Tuesday. Boris Johnson's government has committed to leaving the EU on 31 October with or without a deal. (news.financializer.com). As reported in the news.

chinese side: China's overnight intervention came after the US Treasury Department labelled Beijing a currency manipulator as it let the yuan slide to a more than decade low on Monday, according to Nine News Australia. It's a signal from the Chinese side that they want to keep the yuan steady and elevated. To improve your experience update it here News World Wall Street bounces back after global sell-off By AAP7 14am Aug 7, 2019Facebook Tweet MailUS stocks have jumped more than 1 per cent, bouncing back from a sharp sell-off the previous day as China stepped in to stabilise the yuan, easing concerns that currencies would be the next weapon in the US-China trade war. But it also indicates how quickly things can change. The gains on Tuesday came a day after US stocks' biggest percentage drop of the year and a sharp fall in the Chinese currency. That's permeating the tone in the market, and it's one of the reasons there remains that sense of trepidation, said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. (news.financializer.com). As reported in the news.

data officials: Financial Times Lupa Systems, the investment vehicle founded by James Murdoch, is leading a consortium to acquire Tribeca Enterprises, the company behind New York's Tribeca Film Festival, according to The Guardian. Financial Times Facebook's plans for a new digital currency have raised concerns among data officials in the US, EU, UK, Australia and Canada over privacy risks . Business and economics The Daily Telegraph Businesses in the services sector eked out stronger than expected growth last month, which may help the UK economy to dodge a recession. The Daily Telegraph US stocks plunged yesterday after China upped the ante in its rapidly escalating trade war with the US. Financial Times Tesco set to cut up to 4,500 jobs, mainly at its town centre Metro stores, as it introduces changes designed to make the format more efficient. The Guardian British retailers have recorded the worst month for sales in July since records began, amid Brexit concerns. The Times The Ministry of Defence has signed a 350 million contract with Rolls-Royce to support Britain's squadron of Typhoon fighter jets. Daily Mail Cat Rock Capital, a combative American hedge fund that has been heavily critical of Just Eat's bosses, stands to make 130 million when the food delivery firm merges with a rival. (news.financializer.com). As reported in the news.

fund management: JPMorgan confirmed Tuesday that it had the winning bid for 2% of China International Fund Management, a joint venture between the bank and its local partner, according to CNN. JPMorgan JPM currently owns 49%. JPMorgan will have to pay a premium to control its Chinese joint venture JPMorgan paid 241.3 million yuan 34.3 million for the additional stake, the minimum bid price set by its partner, according to data from the Shanghai United Assets and Equity Exchange. But the escalating trade war between the United States and China may complicate the matter, analysts said. The price values the entire venture at 12 billion yuan 1.7 billion one third higher than an earlier valuation of 9 billion yuan 1.3 billion according to the exchange filing. JPMorgan has already received Chinese approval to run a separate securities joint venture. Read More The deal still needs to be approved by regulators in the United States and China. (news.financializer.com). As reported in the news.

marketing range: Spokesmen at Soft Bank Group and Nomura declined to comment, according to The Japan Times. Founder Masayoshi Son has transformed Soft Bank into a technology investment juggernaut in recent years, and the company said last month it will commit 38 billion of its own capital to a second Vision Fund, following its first unprecedented effort. The conglomerate is preparing to sell 300 billion to 400 billion of seven-year notes to individuals, and may set the bond's marketing range as early as this month, for issuance in September, according to the sources, who asked not to be identified because the matter hasn't been made public yet. ; Soft Bank, which last month unveiled plans for a second enormous technology fund, has a 400 billion bond due Sept. 12. The main purpose of the planned bond sale is for refinancing, and Soft Bank has already hired several underwriters for the deal. The company registered to sell yen bonds at the start of last month, according to a regulatory filing. Soft Bank is also considering a bond offering to institutional investors that may include seven-year and 10-year notes, according to sources familiar with the matter. (news.financializer.com). As reported in the news.

q results: Announces 4Q, Full Year 2018 Financial Results Your Renewable Energy Technology is Growing Old What's Next First Solar Announces 1Q 2019 Financial Results Applied Materials Announces 2Q 2019 Results ; 08.06.19First Solar, Inc. announced financial results for the second quarter ended June 30, 2019, according to The Independent. Net sales for the second quarter were 585 million, an increase of 53 million from the prior quarter, primarily due to increased module and system sales in the US and Australia. Announces 2Q 2019 Financial Results Reports net sales of 585 million, YTD net bookings of 4.3GWDC. Related CONTENTApplied Materials Announces 1Q 2019 Results First Solar, Inc. The company reported a second quarter loss per share of 0.18 compared to a loss per share of 0.64 in the first quarter of 2019. We continued to make significant progress in our Series 6 transition during Q2, with improvements across all manufacturing metrics, said Mark Widmar, CEO of First Solar. Cash, restricted cash and marketable securities at the end of the second quarter decreased to 2.1 billion from 2.3 billion at the end of the prior quarter, primarily as a result of continued capital investments in Series 6 manufacturing capacity. (news.financializer.com). As reported in the news.

soochow university: Jiang, a Chinese-Canadian, became a teacher at Bard College in New York in 2012 after earning a PhD in classical literature at the School of Chinese Language and Literature, Soochow University in 2009, according to Global Times China. She said she was invited to be a teacher as part of the Bard Prison Initiative BPI a Bard College program that provides college opportunities to people in prison, after inmates submitted a petition asking that Chinese language classes be expanded to include classic Chinese literature. Photo IC I believe that the nature of human beings is kind, but the driving force of being kind needs to be guided, that is why I want to share this story with your readers, Jiang Lan, a teacher who taught Chinese at a prison in the US, told the Global Times. My family was against my choice and worried about my safety, but I was very curious about my potential students, and wanted to go on an adventure, she said. I was immediately surrounded by a monotonous and strict atmosphere when I stepped in the door. Strict environment According to Jiang, she needed to go through very strict security before entering the classroom. (news.financializer.com). As reported in the news.

trade dispute: Major cryptocurrencies, increasingly seen as a refuge during distressed times, also rose, with bitcoin gaining more than 14 percent and smaller peers including XRP and litecoin each rising more than 5 percent. ; It definitely appears to be acting somewhat like a safe haven, said Brad Bechtel, head of foreign exchange at Jefferies LLC. When markets are calm and rallying, then Bitcoin sort of falls by the wayside, he wrote by email, according to The Japan Times. But every time we see turbulence in the market and it starts to sell off, you see Bitcoin and other safe-haven assets rally. Investors piled into safer securities such as sovereign bonds Monday after China struck back in its trade dispute with the U.S. and let its currency weaken through a milestone level. Risk assets across the world slumped after U.S. President Donald Trump threatened to impose a 10 percent tariff on Chinese imports that weren't yet subject to levies. Cryptocurrency trading volume increased midday Monday in Hong Kong and there was a strong uptick in exchange inflows of stablecoins, according to data from Token Analyst. China responded Monday, letting the yuan tumble to its weakest level in more than a decade and asking state-owned firms to stop importing U.S. agricultural products. (news.financializer.com). As reported in the news.

watches: American novelist Mark Twain, for instance, endorsed a lot of products, according to The Independent. Some made him money; some didn't. Although this phenomenon may seem recent, it's actually quite old. But there was at least one product he genuinely loved. And like many watch enthusiasts, perhaps the only thing Twain loved more than owning watches was complaining about them. Twain loved watches. (news.financializer.com). As reported in the news.

pla garrison: As Hong Kong's pro-democracy protests grow in frequency and intensity, the commander of the city's PLA garrison spoke about the demonstrations for the first time last week, saying that violence should not be tolerated, according to CNN. Since then Hong Kong has witnessed another five consecutive days of mass protests, which have shut down stores, disrupted air travel and led to clashes between police and demonstrators. Now it is being considered a possibility. The Hong Kong stock market had its worst day in months on Monday. But he said the city was being plunged into a dangerous abyss, warning those who play with fire will perish by it. At a press conference on Tuesday, a spokesman for China's Hong Kong and Macau Office said the local government and police were fully capable of handling the protests. (news.financializer.com). As reported in the news.

government: Exemptions include official business of the federal government and transactions related to the provision of humanitarian aid, according to CNN. It marks an escalation from the already expansive US measures against the Venezuelan government since the start of the country's chaotic political and economic crisis earlier this year. The executive order freezes assets of the government of Venezuela and associated entities and prohibits economic transactions with it, unless specifically exempted. In a letter to Congress outlining the action Monday night, Trump said, I have determined that it is necessary to block the property of the Government of Venezuela in light of the continued usurpation of power by the illegitimate Nicolas Maduro regime, as well as the regime's human rights abuses, arbitrary arrest and detention of Venezuelan citizens, curtailment of free press, and ongoing attempts to undermine Interim President Juan Guaido of Venezuela and the democratically-elected Venezuelan National Assembly. Opposition leader Juan Guaido declared himself acting president earlier this year. Venezuela's political turmoil stems from presidential elections last year wherein Maduro secured another six-year term in a process widely viewed as a sham. (news.financializer.com). As reported in the news.

morrison government: However, they warned that if the battle between the US and China continued, the Morrison government might need to tip cash into the Australian economy to reduce the chance of a recession, according to The Guardian. US labels China a currency manipulator as tensions flare Read more Tech stocks led the rout on Tuesday morning. Economists played down the damage to superannuation savings of the drop in a market that just last week reached a new high not seen since the 2008 global financial crisis. Shares in logistics software company Wisetech Global were the worst performer, tumbling 8%, while those in mining services group NRW Holdings were the exchange's second-worst, falling 6.82%. Accounting software company Xero fell about 6%, employment website Seek dropped 6.5% and buy-now pay-later outfit Afterpay, which has been a market darling, slumped 4.9%. But no sector was spared, with retailers, financiers and miners all down as a wave of red swept the board. In response, China has allowed its currency to fall, making its goods cheaper overseas, and banned the import of US farm goods. Global markets have been falling for the past few days amid an escalating stoush between the US and China, driven in part by president Donald Trump, who has long attacked China over its trade surplus with the US. Last week Trump said he would slap tariffs on consumer goods imported from China. (news.financializer.com). As reported in the news.

trade: First, the trade war, according to Nine News Australia. It has been escalated by Donald Trump in an effort to get China to capitulate to demands that the balance of trade between the two countries is markedly altered. To improve your experience update it here News National'Fear vs greed' How Australia is hit by the US-China trade war By Ross Greenwood Finance Editor7 55pm Aug 6, versus greed that never-ending battle of emotions for investors is well and truly at play right now as they digest conflicting information about the world, the local economy and their own investments. Trump has done this by increasing tariffs, or taxes on Chinese imported goods. US President Donald Trump has impost tariffs on China trade. But that also makes those goods more expensive for US consumers. (news.financializer.com). As reported in the news.

trading today: The benchmark S&P/ASX200 index plunged almost 3 per cent in the first 15 minutes of trading today, falling 179.1 points to 6,461.2 points, according to Nine News Australia. The broader All Ordinaries Index fell 185.5 points, or 2.76 per cent, to 6,525.1 points. To improve your experience update it shares plunge as US-China trade war escalates By AAP12 37pm Aug 6, than 50 billion has been wiped from the value of the Australian share market after a dramatic escalation of trade tensions between China and the United States triggered a global sell-off. The Australian dollar also dived this morning, hitting a low of US67.51 cents. The dollar settled at US67.83. Stocks appeared to stabilise at around 6480 points by midday still down 2.4 per cent from the start of trade. (news.financializer.com). As reported in the news.