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

articles: Far from being a threat to Taiwan, the program to give economic incentives to Taiwanese to start businesses in the mainland was an unprecedented opportunity, it said. ; While the articles were presented as straight news, they were actually paid for by the Chinese government, according to a person with direct knowledge of the arrangement and internal documents from the Taipei-based newspaper, according to The Japan Times. The placement of the articles was part of a broader campaign by China to burnish its image in the Taiwanese media as part of efforts to win hearts and minds in Taiwan for China's reunification agenda. China treated Taiwanese businessmen like its own people, one of the articles said, citing multiple perks. Reuters has found evidence that mainland authorities have paid at least five Taiwan media groups for coverage in various publications and on a television channel, according to interviews with 10 reporters and newsroom managers as well as internal documents reviewed by Reuters, including contracts signed by the Taiwan Affairs Office, which is responsible for overseeing China's policies toward Taiwan. Reuters is withholding the name of the media groups at the request of the former and current employees who provided the documents. These efforts have been going on since China and Taiwan deepened their economic collaboration nearly a decade ago, but details like the financial arrangements of such partnerships had not previously been reported. (news.financializer.com). As reported in the news.

export: Xinhua/Wang Teng Ethiopia has earned 142 million U.S. dollars in export value from Chinese-built industrial parks, an Ethiopian official said on Thursday, according to Global Times China. Hana Arayaselassie, Deputy Ethiopia Investment Commissioner, said 142 million U.S. dollars in export value was earned during the Ethiopian fiscal Year 2018/19, which ended on July 7, reported state media outlet Ethiopia News Agency ENA . Arayaselassie, said the construction and commissioning of the Chinese-built Ethiopia-Djibouti electrified rail line in January 2018 has contributed to boosting landlocked Ethiopia's export ambitions, by transporting speedily and efficiently cargo from industrial parks in mainland Ethiopia to ports in Djibouti. Xinhua/Wang Teng Built on 138 hectares of land, the Huajian Light Industry City in Addis Ababa, Ethiopia will create up to 60,000 jobs when completed by 2020, according to the Chinese company Huajian. She said that 142 million U.S. dollars of export value was earned from Chinese-built industrial parks. Ethiopia is constructing or has commissioned around 12 industrial parks across the country, part of a broad economic strategy to make the country a light manufacturing hub in Africa by 2025. This is 50 percent higher than during the same period in the 2017/18 fiscal year. (news.financializer.com). As reported in the news.

improvement development: The dialogue shows the sincere willingness of both countries to search for new consensus on outstanding issues, and serves as a booster for the further improvement and development of bilateral relations, according to Global Times China. Initiated in 2005, the strategic dialogue had gone through 13 rounds by 2012, and played an important role in overcoming political obstacles and defining the important connotation and framework of bilateral strategic and mutually beneficial relations. The two sides, headed by Chinese Vice Foreign Minister Le Yucheng and Japanese Vice Foreign Minister Takeo Akiba respectively, exchanged views on bilateral ties and international and regional issues of common concern. However, it was later suspended because of subsequent wrongdoings by the Japanese side, especially on issues of history. Chinese President Xi Jinping met with Japanese Prime Minister Shinzo Abe ahead of the Group of 20 G20 Osaka summit in June and reached a ten-point consensus to jointly promote the healthy development of bilateral relations. Bilateral ties have shown signs of warming under the strategic guidance of the leaders of both sides in recent years. (news.financializer.com). As reported in the news.

steve tsang: Hong Kong poses a serious problem for the Chinese government, according to The Japan Times. It can't allow the protesters to challenge its authority or deface symbols of its authority unpunished but it also does not want to attempt a military crackdown, said Steve Tsang, director of the China Institute at London's School of Oriental and African Studies. Yet Beijing shows no signs of preparing for a major crackdown, ignoring the protests in the hopes that frustration will lead to further violence that will eventually turn the territory's silent majority against the movement, according to experts. Under those circumstances, Beijing would prefer to isolate and undermine the protesters so the movement in Hong Kong fizzles out, Tsang said. That has intensified criticism over his concentration of power, even as his propaganda machine relentlessly promotes his image and achievements ahead of the 70th anniversary of the founding of the People's Republic on Oct. 1. The protests also come at a sensitive time for President Xi Jinping, who after removing presidential term limits last year effectively made himself leader for life. (news.financializer.com). As reported in the news.

friday trading: The stock has tumbled 39% over the year to date while the Amplify Online Retail ETF IBUY, -0.83% has gained 25.2% and the S&P 500 index SPX, -0.66% has rallied 16.3%. Farfetch reported wider-than-expected second-quarter losses and announced the 675 million acquisition of New Guards Group, a platform that has launched a number of luxury brands, including Off White and Palm Angels, according to Market Watch. Off White is already one of the top 10 most popular brands on Farfetch, according to the announcement. Farfetch FTCH, -44.49% shares were down 41.3% in Friday trading, en route to the biggest one-day percentage decline since the company began trading in September 2018. Read Sears to start liquidation sales at these 26 stores next week The acquisition allows the company to add a brand platform to its existing platforms technology, data and logistics, said Jos Manuel Ferreira Neves, Farfetch's chief executive, on the earnings call, according to Fact Set. This is the latest in a string of acquisitions for Farfetch over the past year including Stadium Goods in December 2012 and Toplife in February. Neves said Farfetch plans to relaunch the Off White website on its site in the fourth quarter, including in China. (news.financializer.com). As reported in the news.

p spx: Are these investors onto something Have financial planners been wrong all these years For this column I mine the historical data for answers, according to Market Watch. On the face of it, the respondents to the survey need to go back to their history books, as pointed out in a recent column by my colleague Catey Hill. For every two respondents who answered stocks there were more than three who said real estate is the way to go. Since 1890, U.S. real estate has produced an annualized return above inflation of just 0.4%, as judged by the Case-Shiller U.S. National Home Price Index and the consumer-price index. But it's not the end. The S&P 500 SPX, -0.66% or its predecessor indexes did far better, outpacing inflation at a 6.3% annualized rate when including dividends . Even long-term U.S. Treasury Bonds outperformed real estate, producing an annualized inflation-adjusted total return of 2.7%. Check out the chart below Caption outside of wrapper for normal article images If this were the end of the story, then this column could end here. (news.financializer.com). As reported in the news.

strike: The vote means the strike will go ahead as planned after the failure of negotiations with the employers' association ANTRAM, as drivers demand higher wages and better working conditions, according to The Independent. Striking SNMMP drivers will be joined by the Independent Freight Drivers' Union SIMM . The strike will go ahead for an indefinite time, SIMM President Jorge Cordeiro told reporters after the joint union meeting.ANTRAM spokesman Andre Matias Almeida said the strike decision was a great victory for the union leaders but a resounding defeat for the workers. Our members spoke, Francisco Sao Bento, president of the National Hazardous Materials Drivers' Union SNMMP told reporters after the strike vote by members of the two unions representing freight drivers. The Socialist government led by Prime Minister Antonio Costa has already started preparations for the strike, declaring an energy crisis which has been in place since 11 59 p.m. on Friday and scheduled to last until Aug. 21. The government will ration fuel for the public, restricting drivers to a maximum of 15 liters of petrol or diesel at specially designated stations. The crisis declaration allows the government to ensure full supplies to ports, hospitals, airports and other priority users. (news.financializer.com). As reported in the news.

bill: The conspiracy theories are completely unfounded and have dogged the Clintons since Bill Clinton emerged to political prominence in Arkansas, according to MSNBC. They are often resurfaced by fringe right-wing commentators and trolls whenever the death of a notable political figure occurs. Lynne Patton, the highest-ranking official at HUD's Region II bureau, which covers New York and New Jersey, alleged on her Instagram account Saturday that Epstein had been Hillary'd, an apparent reference to one of several conspiracy theories surrounding the Clintons that purport to implicate the couple in the premature deaths of a number of people in their orbit. Screenshot Patton leveraged her considerable social media platform on Saturday to reinvigorate these debunked tropes. Lynne Patton speaks on the third day of the Republican National Convention in Cleveland, Ohio, on July 20, 2016. P.S. Let me know when I'm supposed to feel badly about this, she wrote, adding the hashtag, Vince Foster Part Two, a reference to a Bill Clinton White House lawyer who took his own life in 1993. (news.financializer.com). As reported in the news.

susurrus supposition: Spoken in hushed tones across Premier League boardrooms as data and results are mulled over, platitudes are soon ferried to the awaiting masses, according to The Independent. Ambition is a concept that begets both hope and ruin. Amidst the international tours and world record singings comes the talk of ambition. It is a prodigious promise that relinquishes any ill will and replaces it with a newly found sense of optimism. Club chairpersons can break transfer records, and incoming managers can claim that 'we've got to take the club forward'', but when those words have been preceded by years of regression, they feel hollow. A claim that they are ready to finally deliver on years of susurrus supposition, but ultimately, can compel a sense of attrition when repeatedly unfulfilled. (news.financializer.com). As reported in the news.

tele jones: But as communities who have opposed coalmines in the Hunter can bitterly attest, the IPC rarely overturns the department's recommendation, according to The Independent. What's riled up the Tele and Jones is that the planning and public spaces minister, Rob Stokes, had the temerity to say the department's assessment reflects the consistent and widespread opposition to the scale of this proposal . NSW abortion bill passes first hurdle in late-night sitting Read more Jones has called Stokes delinquent and called for his sacking. The 500m project is still to go to the Independent Planning Commission for a decision. The Telegraph has run a series of prominent stories with headlines such as Robbing the Ritz Stokes hits the panic button with secret phone call. The developer group Urban Task Force to the Transport and Tourism Forum, representing infrastructure construction companies, have chimed in, providing an echo chamber of pro-development support. It's run a feature about how Sydney needs a new hotel and how the development lobby think it's time for Pyrmont a historic suburb of old warehouses, terraces and public housing once home to dock workers to be developed. (news.financializer.com). As reported in the news.

turkey: Proposed by China in 2013, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, which aims to build a trade and infrastructure network connecting Asia with Europe, Africa and beyond along the ancient trade routes of the Silk Road, according to Global Times China. In a recent report launched by the China-led Asian Infrastructure Investment Bank, Turkey was highlighted as a priority country with rapidly growing pipeline projects. Turkey, a geographical bridge linking Europe and Asia, is a keen and ready participant in BRI which spans more than 70 countries and regions. A concrete investment by this bank in Turkey is the Salt Lake underground gas storage facility project, the second phase of which was launched on July 29 and is expected to be completed by 2023. Meanwhile, more than 100 Chinese companies will attend the Izmir International Fair as China is the partner country in the 88th edition scheduled for Sept. 6 to 14, according to an official from the Chinese Embassy in Ankara. As the world's largest storage project under construction, the joint venture between China's CAMC Engineering and Turkish IC Ictas Construction will increase the storage capacity of the underground gas storage facility to 5.4 billion cubic meters by 2023, according to Turkish Energy and Natural Resources Minister Fatih Donmez. (news.financializer.com). As reported in the news.

u.s .,: Data Trek Research pointed to a New York Fed research finding that basically all the moves in the S&P 500 going back two decades is tied to the three days around Federal Open Market Committee meetings, and more recently, the Fed's press conferences and dot plots, according to Market Watch. Guess who doesn't meet in August Ash Alankar, head of global asset allocation at Janus Henderson Investors, says in the call of the day that financial markets may be shifting to a new era where fundamentals actually matter. After another rocky session, U.S. stocks on Wednesday finished pretty much where they started. The era of bad news is good news might be coming to an end, Alankar said in a phone interview. Not that the fundamentals, particularly in the U.S., are terrible interest rates are low, inflation is stable, job growth is still solid, many mortgage borrowers are able to refinance to still-lower payments but Alankar isn't a fan of stocks at the moment. On Wednesday, for instance, the news that three central banks cut interest rates was greeted by alarm rather than celebration, he pointed out. (news.financializer.com). As reported in the news.

york post: There was no immediate public confirmation of his death, according to The Japan Times. A little over two weeks ago, Epstein was found on the floor of his jail cell with bruises on his neck, according to a person familiar with the matter who spoke on condition of anonymity. The financier was found hung in his Lower Manhattan jail cell in an apparent suicide, ABC News and other media outlets reported, citing law enforcement officials they didn't identify. ; A gurney carrying a man who looked like Epstein was wheeled out of the Manhattan Correctional Center around 7 30 a.m., the New York Post reported. At the time, it was not clear whether the injuries were self-inflicted or from an assault. In October, Boston gangster James Whitey Bulger was killed in a federal prison in West Virginia where had just been transferred. Epstein's death is likely to raise questions about how the Bureau of Prisons ensures the welfare of high-profile inmates. (news.financializer.com). As reported in the news.

pro-police thing: Recent Stories in Politics Bloomberg Takes Shot at Warren's Anti-Corporate MessageO'Rourke It's Really Hard' to See People Voting for Trump If They Aren't RacistMSNBC Host Banning Semi-Automatic Weapons Is the Most Pro-Police Thing You Can Do'During a discussion about the trade wars affecting the economy, Nichols said the farmers were going to have to keep touching this hot stove, according to MSNBC. He went on to say he wasn't wishing for a recession. Engel appeared on Maher's show with Trump's former White House communications director Anthony Scaramucci, Washington Post columnist Catherine Rampell, and frequent MSNBC guest Tom Nichols. Neither am I, Rampell said. Anthony Scaramucci to Bill Maher You don't really want a recession. Well, you should wish for a recession because that will definitely get Trump unelected, Maher interjected. (news.financializer.com). As reported in the news.

evening sky: The smoke rising into the evening sky is a clue, according to The Guardian. Power cuts now stretch from dawn to long after dusk. But the apparent tranquillity of this poor suburb of Zimbabwe's capital hides a rude reality of misery and despair. Gas is too expensive so families cook on firewood, gathering around braziers as the sun goes down and an almost total darkness comes. When more than a dozen families share a single 10 metre by 20 metre courtyard, there is little peace. Another clue is the noise. (news.financializer.com). As reported in the news.

fuel extraction: We have a pensions infrastructure in the UK which is fundamentally unfit for purpose when it comes to climate change There are almost no company pension schemes in Britain that allow the employee to stop their money going into fossil fuel extraction, according to The Guardian. Yet it should be as simple as pressing a few buttons on a workplace computer. So why, when the climate crisis demands urgent action, is it still virtually impossible to control where the biggest sum of money any of us are likely to accumulate our pension is invested Do you want to make sure your pension money is not being used to support the extraction and burning of coal Fracking Or drilling for oil in the Amazon or Antarctic Good luck with that. Instead, we have a pensions infrastructure in the UK which is fundamentally unfit for purpose when it comes to climate change. Environmentalists make a good case that investing in oil companies will be a bad financial decision because the huge reserves of oil that make up much of their value will become stranded assets as we stop burning fossil fuels. This is not to argue that you should be forced to divest your pension from fossil fuel companies. (news.financializer.com). As reported in the news.

lib dems: He won't accept it, so parliament will create a caretaker government to revoke article 50 and hold a general election, according to The Guardian. The Lib Dems won't want Corbyn, and the Labour left won't want anyone tainted by austerity, so that leaves us with the nationalists or Caroline Lucas as PM. She can be the trusted caretaker to pause the clock on Brexit until an election sorts out whether we remain, leave or hold another vote. I predict parliament will be pushed into a corner by BJ and forced to pass a motion of no confidence. The new parliament will be full of Greens and the Queen's speech will include proportional representation and a zero-emission economy by 2030. Heathrow, fracking and fossil-fuel subsidies will be replaced by smarter solutions to our problems, such as renewable energy and battery storage technologies. There will be other big ideas, like making clean air a legal right and creating an environmental enforcement body with real teeth. (news.financializer.com). As reported in the news.

news: Nine News Sydney presenter Peter Overton and Daily Telegraph editor Ben English bestowed the prestigious Lifetime Achievement Award to the veteran news anchor at the eighth annual gala dinner at Randwick Racecourse last night, according to Nine News Australia. Henderson told the crowd he was honoured and flattered . After 47 years in a job that I love doing and which gave me so much, to be acknowledged in this way tops it all off, he said in his acceptance speech. To improve your experience update it newsreader Brian Henderson honoured at Kennedy Awards as 9News reporters scoop prizes By 9News Staff11 32am Aug 10, newsreader Brian Henderson accepted his lifetime achievement nod at the Kennedys with trademark humility as 9News reporters were also praised at the annual journalism awards. Henderson, who retired from Nine in 2002 joins an esteemed group including Jana Wendt and Ita Buttrose who have also been honoured by the Kennedy Foundation. But it's his heart, soul and integrity that, to this day, set the tone for Nine. Darren Wick, Nine National Director of News & Current Affairs, heaped praise upon the warm and honest newsreader, commending his ability to guide his peers through testing times . Brian Henderson is the face of Nine News that generations of Australians trusted and relied upon every weeknight to tell them the news without fear or favour, Mr Wick said. (news.financializer.com). As reported in the news.

aeolian sand: So far they have scraped away about 500 feet 150 meters of Aeolian sand, dirt and coal to create a hole a mile 1.6 km wide, according to The Japan Times. Far to the north, in the Cholistan Desert, lie the skeletal beginnings of a solar farm that is supposed to expand to eight times the size of New York's Central Park. Taking three-hour breaks during the hottest part of the day and living in a makeshift village of shipping containers, they are digging for fuel to sustain a 3.5 billion power project. It is the largest solar project in Pakistan, where the government has recently announced an ambitious plan to generate 60 percent of its power from renewable sources in about a decade. ; If these grand developments in the desert suggest that coal and solar are in a close-run contest, they are not. It now has nine, supplying 15 percent of the nation's electricity, with another four under construction. Before 2016, Pakistan had a single coal-fired plant. (news.financializer.com). As reported in the news.

apple card: There is no schedule set for the launch of Apple Card in Japan, according to The Japan Times. The company said a limited number of the people who had expressed interest in Apple Card would start receiving sign-up invitations on Tuesday. With the card, Apple aims to draw in iPhone owners with 2 percent cash back on purchases with the Apple Pay service, no fees and an app to manage related finances. ; For Goldman, the card will enhance the bank's focus on its Marcus consumer banking brand, which it started in 2015 to even out volatile results from businesses such as trading and investment banking. The Apple Card doesn't play in the same league as premium rewards credit cards like the Chase Sapphire Reserve or AmEx Platinum, said Sara Rathner, an expert on credit cards at Nerd Wallet. Apple will offer an option for a physical card made of titanium, but with no visible number. Those cards charge ultra-high fees, but in return you get some pretty sweet perks massive sign-up bonuses, annual statement credits, free Global Entry and a higher point-earning rate for travel expenses. (news.financializer.com). As reported in the news.

center: The cost of the tumult is showing up in the earnings of a rising number of big companies, according to CNN. Disney, HSBC, Prada, Swatch and Cathay Pacific are among the businesses taking a hit. For nine consecutive weeks, pro-democracy protests have engulfed Asia's premier financial center, forcing stores to close, disrupting public transportation and undermining economic growth. With another round of demonstrations kicking off Friday and due to run through the weekend, the business community is warning of more fallout from violent clashes between police and protesters. Mass protests could make things much worse Speaking Friday, Hong Kong officials warned that the disruption could have a more lasting impact on the city's economy than the outbreak of the deadly SARS virus in 2003 that slashed the lucrative tourist trade. Hong Kong's economy is slumping. (news.financializer.com). As reported in the news.

camera functions: The two parties will also unveil smartphones with the first-of-its-kind 100MP camera sensor, featuring the highest pixel count and resolution on the market, according to Global Times China. Smartphones with such sensors can produce photos with a resolution of 12032 x 9024 pixels. The 64-MP camera, capable of producing ultra-clear photos, will be first adopted in one of the upcoming smartphones from Redmi, an independent brand under the Xiaomi Corporation, according to Xiaomi co-founder and president Lin Bin. Xiaomi has been investing in improving its smartphone camera functions in recent years. Powerful camera functions have become one of the key battlefields among Chinese smartphone makers, as the domestic cellphone market growth slows down. It set up a department dedicated to imaging technology in 2018, with offices covering domestic and overseas cities including Shanghai, Shenzhen, Tokyo and Paris to conduct related research and development. (news.financializer.com). As reported in the news.

cannabis producer: The interim chief executive of Canada's third-largest licensed cannabis producer has just walked into a boardroom at the company's Leamington, Ont. headquarters the same boardroom in which he and his executive team have been holed up for a week, finalizing the details of their latest quarterly earnings report, according to The Independent. Dressed casually in jeans and a dark blue sweater, Simon knows there is good news on the way Aphria is about to post a surprise profit, its first since the legalization of recreational cannabis last year. Dax Memler for National Post Vanmala Subramaniam August 9, 20196 50 PM EDTFiled Share this story Aphria is back on track, Irwin Simon says, but questions from dealmaking controversy still linger Tumblr Pinterest Google Linked InIt's earnings day at Aphria Inc. and Irwin Simon has a smile on his face. On this day, with the positive earnings and the company's automated flagship cultivation facility, Aphria One, humming away at full capacity a few hundred yards away, it might be easy to forget that at the beginning of the year, some were questioning whether Aphria would even survive. Aphria posts surprise profit as cannabis sales volumes double Short sellers set their sights on Canopy Growth, cut Aphria positions Cannabis investors brace for writedowns, not profits, in second half Simon was brought in late last year to lead a special committee of the board to investigate the allegations and serve as a steady hand through the crisis. In December, a series of short-seller reports about inflated foreign assets and self-dealing involving the CEO and founders of the company had sent Aphria's stock plummeting by as much as 60 per cent. (news.financializer.com). As reported in the news.

core business: As of the closing bell, the company was valued at more than 31 billion dollars in market capitalization, according to Global Times China. The rally made Net Ease the best performer among the top 10 stocks by weight in the S&P US Listed China 50 index on Thursday, all of which extended gains with 58 ranking the second by rising 3.92 percent. Shares of Net Ease surged 10.26 percent to close at 238.02 US dollars. For Q2, Net Ease reported marked growth in its core business, including a diverse portfolio of online games, e-commerce and innovative business and others, such as Youdao online education service and cloud music service. The quarterly earnings per American Deposit Share also surged 46.6 percent year over year to over 3.4 dollars. Its total revenue jumped 15.3 percent year over year to more than 2.7 billion dollars. (news.financializer.com). As reported in the news.

friday trading: The stock has tumbled 39% over the year to date while the Amplify Online Retail ETF IBUY, -0.83% has gained 25.2% and the S&P 500 index SPX, -0.66% has rallied 16.3%. Farfetch reported wider-than-expected second-quarter losses and announced the 675 million acquisition of New Guards Group, a platform that has launched a number of luxury brands, including Off White and Palm Angels, according to Market Watch. Off White is already one of the top 10 most popular brands on Farfetch, according to the announcement. Farfetch FTCH, -44.49% shares were down 41.3% in Friday trading, en route to the biggest one-day percentage decline since the company began trading in September 2018. Read Sears to start liquidation sales at these 26 stores next week The acquisition allows the company to add a brand platform to its existing platforms technology, data and logistics, said Jos Manuel Ferreira Neves, Farfetch's chief executive, on the earnings call, according to Fact Set. This is the latest in a string of acquisitions for Farfetch over the past year including Stadium Goods in December 2012 and Toplife in February. Neves said Farfetch plans to relaunch the Off White website on its site in the fourth quarter, including in China. (news.financializer.com). As reported in the news.

goldman: Prosecutors allege that Goldman and some of its bankers misled investors about the bond sales and that 2.7bn of the money raised was illegally diverted out of the fund, according to The Independent. 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. Malaysian prosecutors filed charges on Friday as part of an investigation into Goldman Sachs' role in raising 6.5bn 5.4bn for the state investment fund 1Malaysia Development Bhd 1MDB through bond sales. You can form your own view. Subscribe now Among those charged was Goldman's former most senior international banker, Richard Gnodde. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.