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

everybody: The afternoon drive host had been on extended leave from the Cumulus Media station but now announces that he's leaving the station at which he's worked for the past 10 years, according to MSNBC. Chris Daniel states in a letter to listeners Hi, everybody. The Bible of Talk Radio and the New Talk Media Home Industry News Feature TVExpert Guests Technical Top Weekly Topics The Heavy Hundred Heavy Hundred of Sports Talk 2019Heavy Hundred of Talk Talk AudiencesTALKERS 2019 Video You are here Home Front Page News Tuesday, September 10, 2019Tuesday, September 10, 2019TALKERS September 10, 2019KMJ-AM/FM, Fresno Talk Host Chris Daniel Semi-Retires' from Station. It's been a while. Sorry to leave everybody guessing, but it was the best way to go. I thought it would be best for me to let you know what's going on. (news.financializer.com). As reported in the news.

accounts: A key recommendation from the banking royal commission to end so-called grandfathered fees has passed the first hurdle of parliament on Tuesday, according to Nine News Australia. The proposal targets accounts created before 2013, as the practice has been banned from investment accounts established since then. To improve your experience update it here News National End nears for grandfathered financial fees By AAP5 57pm Sep 10, laws to stop ongoing commissions from financial advice are now on their way to the Senate after clearing the lower house. If passed, the laws will begin next January. PLISTA window. AAP 2019Continue reading PoliticsCONTACT USSend your photos, videos and stories to 9News contact 9news.au Auto news Price parity between electric and internal combustion cars is close, claims Volkswagen - caradvice.au set Timeout function if !window. (news.financializer.com). As reported in the news.

dubai-based: Fifteen days earlier, he had been turned away by an official who was suspicious of his claims that he was a businessman hoping to invest in North Korea, according to The Guardian. Before he left, the visitor gave the official his card, which said he ran a Dubai-based investment fund named Baron Stone Capital. The man had visited the embassy before. Now the visitor had returned, claiming he had a gift for the embassy's senior official, So Yun-sok. While the official went to look for Mr So, the visitor walked to the perimeter of the compound and surreptitiously released the lock on the outside gate. This time, he was ushered inside and asked to wait in the courtyard between the compound's main two-storey building and its solid metal outer gate. (news.financializer.com). As reported in the news.

: I get it, according to Nine News Australia. But, Samsung's latest flagship is truly an example of getting what you pay for. To improve your experience update it here News Technology The 1699 smartphone you will never regret purchasing By Matt Dunn Senior Producer12 53pm Sep 10, no stranger to buying dubious packets of reduced home brand sausages when it comes to the end of my pay cycle, so believe me when I say I hear your hesitations about the 1699 price tag of the Galaxy Note 10 . It's eye-wateringly expensive. Apple will unveil its latest iPhones tomorrow. The device has premium finishes you would expect at the price. See how they stack up on our nine.au. (news.financializer.com). As reported in the news.

fuel donations: In the midst of this seven-hour ode to Stormageddon, there were here and there some interesting nuggets, such as one attendant who confronted Biden on his vow to not accept fossil fuel donations while appearing one evening before at a fundraiser thrown by a fossil fuel investor, according to MSNBC. While none of the candidates offered an original take on the topic, some appeared more competent or honest than others. By R.A. Epstein By R.A. Epstein September 10, 2019function printpage window.print ; By now many commentators have responded to CNN's September 4 clown hall and its Twilight Zone -worthy soundbytes of Bernie Sanders advocating funding abortion abroad for population control, Kamala Harris's War on Straws, and Joe Biden's exploding blood vessel. Sen. Sen. Cory Booker, for instance, admitted he is not well-versed enough to comment on geo-engineering, and maintained that nuclear energy has to be part of an alternative energy blend in order to realistically replace fossil fuels. (news.financializer.com). As reported in the news.

india china: The Wuhan meeting quickly normalized bilateral relations after the 73-day severe military confrontation between the Chinese and Indian armed forces in the summer of 2017 which almost triggered a military clash, according to Global Times China. The coming second informal meeting between the two leaders indicates that it has become a mechanism of high-level strategic communication between China and India, which will play an important role in enhancing strategic mutual trust between China and India and unleashing the potential of cooperation. It will be the second informal summit between the two leaders since they met in Wuhan, China, in April, 2018, to discuss strategic and long-term bilateral issues. India and China have long had territorial disputes, which even led to armed conflicts between the two in 1962. Yet with development as the top priority, China seeks to maintain a good-neighborly relationship and peaceful peripheral environment, and has no intention of engaging in war with any neighboring countries, including India. Although the two countries have signed an agreement to jointly safeguard peace and tranquility in the border areas, and both sides have pledged to settle territorial disputes by peaceful means, India still fears that China will resort to military approaches and has intense distrust on China in terms of security. (news.financializer.com). As reported in the news.

interest rates: It added 14.01 points Monday, according to The Japan Times. The market opened comfortably higher with investors' risk appetite enhanced by U.S. Treasury Secretary Steven Mnuchin's remarks showing his optimism over the ministerial-level U.S.-China trade talks to be resumed next month, brokers said. The Nikkei 225 average rose 73.68 points, or 0.35 percent, to end at 21,392.10 after gaining 118.85 points Monday. ; The Topix, which covers all issues listed on the Tokyo Stock Exchange's first section, was 6.88 points, or 0.44 percent, higher at 1,557.99. The Treasury chief reportedly said Washington and Beijing already have a conceptual agreement. The market grew top-heavy after the initial surge. This comment sent U.S. long-term interest rates higher and, as result, the dollar appreciated against the yen. (news.financializer.com). As reported in the news.

secretary-general ban: Former U.N. Secretary-General Ban said there were many opportunities to avoid losses caused by disasters and build economies that can better withstand wild weather like powerful Hurricane Dorian, which devastated the Bahamas this month, according to The Japan Times. But the commission which is backed by 20 countries and 34 high-profile international figures would need commitment from political leaders to expand the bright spots Ban had witnessed at the far larger scale needed, he said. As the planet heats up, governments and businesses must radically rethink how they make decisions in key economic areas such as agriculture and infrastructure, said a flagship report aimed at pushing adaptation measures up the political agenda. ; If we do not act now, climate change will supercharge the global gap between the haves and the have-nots, said Ban Ki-moon, who co-chairs the Global Commission on Adaptation with billionaire philanthropist Bill Gates and World Bank CEO Kristalina Georgieva. Investing 1.8 trillion globally in early warning systems, more robust infrastructure, improved crop production, mangrove protection and resilient water resources from 2020 to 2030 could generate 7.1 trillion in net benefits, the report said. In other words, failing to seize the economic benefits of climate adaptation with high-return investments would undermine trillions of dollars in potential growth and prosperity, it added. That amounts to an average of about 4 for every 1 spent, it said. (news.financializer.com). As reported in the news.

tech stocks: AAPL, 3.18% was in the spotlight as it announced new model iPhones and other products at its annual launch event Tuesday afternoon, according to Market Watch. How did the major benchmarks fare The Dow Jones Industrial Average DJIA, 0.85% rose 73.92 points, or 0.3%, to 26,909.43, while the S&P 500 index SPX, 0.72% added 0.96 point, or less than 0.1%, to 2,979.39. Apple Inc. The Nasdaq Composite index COMP, 1.06% retreated 3.28 points, or less than 0.1%, to 8,084.15 At session lows, the Dow fell 118.46 points, or 0.4%, the S&P 500 lost 21.42 points, or 0.7% and the Nasdaq was down 85.75 points, or 1.1%. What drove the market Investors eyed a potential rotation in market leadership from defensive names and fast-growing tech stocks into cyclical sectors, including energy, industrials and materials, all of which have posted gains Tuesday, in contrast with the S&P 500. If we can actually move away from narrow, defensive leadership into cyclical and small-cap leadership, that would be a healthy development for the market. The big story is the continuing rotation that we saw begin a couple days ago, Willie Delwiche, market strategist with R.W. Baird told Market Watch. (news.financializer.com). As reported in the news.

unicorn startups: In the span of a few months, WeWork has gone from one of America's most valuable unicorn startups to a punchline in investment circles, according to The Japan Times. Early this year, Goldman Sachs Group Inc. pitched WeWork as a 65 billion business. Soft Bank is pressing WeWork to postpone the stock offering after investors expressed serious concerns about the business and its corporate governance, said the sources, who asked not to be identified because the discussions are private. ; WeWork, which owns or leases office space and then rents it to companies typically needing short-term space, had planned to hold a roadshow to promote the offering as soon as this week, an executive told analysts last Wednesday. Now WeWork advisers are estimating the company is worth about a third of that amount. Soft Bank Group Corp. and its affiliates hold about 29 percent of WeWork stock, Bloomberg reported last week. Representatives for Soft Bank and We Co., the parent of WeWork, declined to comment. (news.financializer.com). As reported in the news.

hip: The Soft Bank tech investor wants WeWork to abandon its flotation, reports the FT for reasons that are not hard to guess, according to The Guardian. A listing in New York would expose the horrible truth about the allegedly hip workspace landlord. This seems to be Masayoshi Son's approach at WeWork. It ain't worth 47bn, the value at which Soft Bank injected the last portion of its 10.5bn investment. Even the lower range looks rich. Try 15bn- 20bn, suggests Wall Street. (news.financializer.com). As reported in the news.

oil: Both of those challenging efforts require much higher oil prices, according to CNN. Saudi Arabia's surprise decision over the weekend to install a new oil minister, its third in just over three years, reflects a sense of urgency about boosting prices ahead of the planned Aramco IPO. The listing would be the largest in history and is at the heart of the sweeping Vision 2030 plan to diversify Saudi Arabia's economy. The OPEC kingpin wants to balance its massive budget and simultaneously pull off a 2 trillion valuation for Saudi Aramco, the country's crown jewel. The entire country is intertwined with oil prices. They have gone above and beyond to lift prices, said Ryan Fitzmaurice, energy strategist at Rabobank. Michael Tran, director of global energy strategy at RBC Capital Markets The Saudis are inevitably frustrated. (news.financializer.com). As reported in the news.

pounds: It has now emerged that the proposals were not approved, with the directors considering their next steps . One investor who put in several thousand pounds said The whole thing is a shambles, according to The Guardian. She added Obviously I would never have invested if I'd known that Kevin McCloud would bail out early and bondholders would be left carrying huge losses. Hundreds of investors who were told last month they could face losing up to 97% of their money were in effect warned that if they did not back the restructuring, one of the firms in McCloud's empire was at risk of being wound up or falling into insolvency. The star of Channel 4's Grand Designs previously said he would do everything in my power to improve the current situation, and may now face pressure to use his own cash to help make up investors' losses. Between 2013 and 2017 he wooed investors with a string of fundraising schemes that offered returns of up to 9% a year from his Happiness Architecture Beauty HAB homes businesses. The Guardian last month revealed the problems that have beset McCloud's property empire. (news.financializer.com). As reported in the news.

saudi delegation: Oil prices rose about 2 per cent today, following the announcement by Prince Abdulaziz bin Salman, son of Saudi King Salman and a long-time member of the Saudi delegation to the Organisation of the Petroleum Exporting Countries, according to Nine News Australia. Rising costs of crude typically result in higher prices at the pump, with the effect usually felt by consumers six weeks after the initial oil hike. To improve your experience update it here News National How decision of Saudi prince is set to hit Aussie wallets3 10pm Sep 10, household budgets are set for another hit after Saudi Arabia's new energy minister confirmed he would limit the kingdom's oil production amid uncertainty in the global energy markets. Saudi Arabia's new Energy Minister Prince Abdulaziz bin Salman speaks to journalists at the World Energy Congress in Abu Dhabi, United Arab Emirates. AP Australian transports costs have already been on the rise this year, according to the Australian Automobile Association's AAA June 2019 Transport Affordability Index. Prince Abdulaziz said oil producers have to share responsibility to balance the market in comments that marked his debut since being named the kingdom's new oil minister the previous day. (news.financializer.com). As reported in the news.

trading partner: In the first half of 2019, ASEAN became China's second largest trading partner for the first time, with the bilateral trade volume reaching 291.85 billion U.S. dollars up 4.2 percent year-on-year, according to Xinhua China. The First China-ASEAN AI Summit is held in Nanning, capital of Guangxi Zhuang Autonomous Region, September 9. China has maintained its position as the largest trading partner of the ASEAN for ten consecutive years. More The robust trade benefits from the widely applied AI technologies. Apart from the agricultural field, AI technologies have also been applied in the disaster relief field. For example, the owner of a fresh melon chain store in Zhengzhou central China's Henan Province can directly learn the growth status of the dragon fruit, the brand and dosage of pesticides used in the orchard in Thailand through Hikvision's cameras installed in the orchard. (news.financializer.com). As reported in the news.

african market: The over 3 percent average annual growth rate of the African GDP is one of the elements that make Africa a sustainable market for stable investment, according to Global Times China. However, the GDP percentage does not offer a strong incentive or driver behind Africa's bright future. While this was playing out, emerging nations, including Asian countries, took notice of the new African market that has been thus far immune to the erratic economic policies coming from the US. Investors and global traders are attracted to the higher rate of return on foreign investments in Africa, and many economic indicators demonstrate clearly that there are key drivers behind the African economic expansion. Indeed we have to understand that today Africa has shifted its economy from a resource-based, pure commodity exporter to new sectors such as wholesale, retail, transportation, telecommunications and manufacturing. This newfound African growth in the middle of depressing international economic indicators puts Africa on a new level of geopolitical interest from not only traditional partners like the EU, but also from emerging economies from Asia, especially China. This change in economic emphasis, which has led to reduced risks inherent to a fluctuating commodity-based GDP, offers a new space to channel investment, focus on microeconomic growth and create a new economic leverage for Africa. (news.financializer.com). As reported in the news.

april-june quarter: Imports of American goods tumbled 22% in August from a year earlier to 10.3 billion, customs data showed Sunday, according to Market Watch. Exports to the United States, China's biggest market, sank 16% to 44.4 billion. On Sunday, a new report showed China's trade with the U.S dropped sharply in August, as new tariffs by both sides were announced. More tariffs went into effect on Sept. 1, and the next round of tariffs on Chinese goods is scheduled to take effect Oct. 15. On Monday, the Japanese government released revised economic growth data for the April-June quarter. Last week, the U.S. and China said they have agreed to renew trade negotiations in early October. (news.financializer.com). As reported in the news.

countries plans: The measures include tax incentives, special investment zones for individual countries and plans to change the foreign business law to facilitate foreign investment, the Bangkok Post reported on Friday, according to Global Times China. Thailand's feeble economic growth is a major reason behind the move, a Bangkok-based source familiar with the matter, who wished to remain anonymous, told the Global Times on Monday. Thailand reportedly approved a manufacturing transfer plan recently to attract foreign companies looking to relocate production bases as the China-US trade war keeps escalating. The Thailand authorities have been striving to reach 3 percent growth in GDP, but industrial and commercial players are not that optimistic about it, the source said, adding that more economic stimulus plans are needed. There have been a number of Chinese manufacturers moving to Thailand since the China-US trade war broke out, and the number will be growing after Thailand's measures are implemented, he said. He noted that the newly approved manufacturing relocation plan would be mutually beneficial for Thailand's economic growth and Chinese manufacturers. (news.financializer.com). As reported in the news.

cape town: More than 1,000 institutional investors are committed to dropping fossil fuel assets, including wealth funds, banks, insurance firms as well as scores of city councils, universities, and religious organizations, according to The Japan Times. By comparison, institutional investors with holdings of 52 billion in assets had made the same commitment in 2014. A growing number of investment and wealth funds have been looking to pull away from fossil fuels and shift to renewables, especially since the 2015 Paris Agreement on climate change. ; The 11 trillion figure was released in a report as part of the Financing the Future summit in Cape Town for advocates for investment in clean energy transition. We are seeing a clear shift away from fossil fuel investments in every sector, said Clara Vondrich, director of Divest-Invest, one of the report authors. The 11 trillion figure represents around 16 percent of the total global equity markets in 2018, the organizers said, citing World Bank figures. Coal, oil, and gas assets are being recognized as toxic not just morally due to the climate crisis but also increasingly financially. (news.financializer.com). As reported in the news.

estimate economists: The revised figure, released Monday, matched analysts' median estimate, according to The Japan Times. Economists had expected overall growth to be smaller than first estimated after Finance Ministry figures released last week showed manufacturers cutting back on business investment as escalating trade tensions darken the global outlook. Gross domestic product grew at an annualized pace of 1.3 percent in the three months through June from the previous quarter, according to revised Cabinet Office data, compared with a preliminary reading of 1.8 percent. ; Strong consumer spending was the main driver of the expansion. That contrasts with the stance of more domestic-oriented nonmanufacturers, which are continuing to ramp up capital spending as they automate processes to cope with the labor shortage. Private spending is expected to continue showing strength through the third quarter, before taking a hit from the consumption tax increase Oct. 1. Consumer spending has helped power growth this year as exports have fallen due to a slowing global economy and the U.S.-China trade war. (news.financializer.com). As reported in the news.

european union: Maybe delivered in Latin rather than Irish, according to The Independent. It would be a stupid thing to do, however. Drop the backstop, or else would be Boris Johnson's threat. The odd thing is that what is true about the power dynamic between Ireland and the UK, is also true for the UK in relation to its own big neighbour, the European Union. In both cases the smaller, open economy is heavily reliant on its vastly larger neighbour. And given Ireland's position in the EU as a full member state, it does complicate matters. (news.financializer.com). As reported in the news.

investors mantaining: On Friday, it gained 113.63 points. ; The Topix, which covers all issues listed on the Tokyo Exchange's first section, was up 14.01 points, or 0.91 percent, at 1,551.11 after adding 2.64 points Friday, according to The Japan Times. Stocks jumped after showing some sluggishness at the outset, with buybacks taking the upper hand amid investors mantaining their optimism over U.S.-China trade negotiations and other external issues, brokers said. The Nikkei 225 rose 118.85 points, or 0.56 percent, to end at 21,318.42. A continued rise on Wall Street on Friday reflecting unchanged expectations for a further interest rate cut by the U.S. Federal Reserve later this month helped the Tokyo market extend its rally, they said. Tomoaki Fujii, head of the investment research division at Akatsuki Securities Inc., noted that on top of the rise in U.S. equities, a halt in the yen's appreciation against the dollar gave a boost to Japanese stocks. Both the Nikkei and Topix stayed in positive territory for the rest of the session despite a dearth of fresh trading incentives. (news.financializer.com). As reported in the news.

manufacturing industry: One of the most famous examples is that of Fuyao Group, a Chinese company that produces glass, after its experience was recorded in the Netflix-produced documentary American Factory . This is the first project from the former US president Barack Obamas' new distribution company, Higher Ground, according to Global Times China. The film documented Fuyao Group's opening after purchasing a factory originally belonging to General Motors in Dayton, Ohio, and spending more than 200 million transforming it into its own glass manufacturing factory. Photo VCG More Chinese enterprises are building their factories in the US, solving the problem of unemployment resulting from the US manufacturing industry slowing and weakening. Creating jobs The new factory employed more than 2,000 workers and offered them a diverse range of jobs. She was able to afford her own room after working in Fuyao, and the film shows her decorating her rented apartment with colorful lanterns before Christmas . The American workers in the documentary are representative of many factory workers in the US struggling to make ends meet amid the contraction of the US manufacturing industry. A female worker in the documentary named Jill said that the job in Fuyao's factory had allowed her to re-enter the middle class and move out of her sister's basement. (news.financializer.com). As reported in the news.

keyup listener: Some events are more important than others, according to The Independent. If you only have time to focus on a few of the stories about to unfold this week, make sure you don't miss upcoming catalysts for Alnylam ALNY Moderna MRNA and Aimmune Therapeutics AIMT . Here's what to look out for. 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 open in 4 hrs 23 minsS&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 && && Biotech Stocks That Could Soar This Weekif window.performance window.performance.mark && && Renauer, The Motley Fool Motley Fool September 9, 2019if window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && biopharmaceutical industry's summer doldrums will unofficially come to a close this week thanks to steady gusts of wind from the Food and Drug Administration, plus a slate of presentations in front of scientists and investors. Three healthcare workers with their thumbs up. Tuesday Alnylam -- how limited Alnylam's first drug to earn approval, Onpattro, is aimed at a very limited population. More Image source Getty Images. (news.financializer.com). As reported in the news.

market u.s: Meanwhile, the S&P 500 index SPX, 0.03% lost less than a point, or 0.01%, to 2,978.43, and the Nasdaq Composite Index COMP, -0.04% shed 15.64 points, or 0.2%, to 8,087.44, according to Market Watch. At session highs, the Dow rose 103.37 points, or 0.4%, the S&P was up 9.36 points, also 0.3% and the Nasdaq added 48.2 points, or 0.6%. What's driving the market U.S. stocks saw choppy trade Monday as investors weighed Beijing and Washington's plan to renew talks next month, and as investors anticipated stimulus from global central banks. How are the major benchmarks performing The Dow Jones Industrial Average DJIA, 0.28% rose 38.05 points, or 0.1%, to 26,835.51, recording its fourth straight gain, matching a similar win streak ended July 15. There's a belief that there will be a meeting between the U.S. and China sometime in October, though we don't have a date or agenda yet, Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research told Market Watch. He said that while hopes for further monetary stimulus may be boosting confidence among some investors, but the fact that we're this close to an all time high puts us in a dangerous situation and makes the market vulnerable to a pullback. It's a fairly thin proposition, Frederick said, adding that given the apparent differences in negotiating positions between the U.S. and China, I'm having a difficult time imagining a real trade agreement. (news.financializer.com). As reported in the news.

stock price: Trading volume ballooned to 117.9 million shares, compared with the full-day average of about 28.8 million shares, and enough to make the stock the most actively traded on major U.S. exchanges, according to Market Watch. In a letter to AT&T's board of directors, Elliott Management said it believes the stock's underperformance relative to the S&P 500 SPX, 0.03% over the past decade has left the company deeply undervalued. The stock T, 2.15% ran up as much as 5.2% intraday before paring gains to close up 1.5% at 36.79, which was the highest close since March 16, 2018. Elliott said it's four-part value-creation plan Activating AT&T Plan could create an opportunity to boost the stock price to above 60 by the end of 2021, which would take the stock above the July 16, 1999, record close of 59.19. Elliott disclosed in the letter that it owned a 3.2 billion stake in AT&T, which it appears to have acquired within the past three months. That would represent a gain of more than 65.5% from Friday's closing price of 36.25. (news.financializer.com). As reported in the news.