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

chairman role: Politicsread more Boeing CEO loses chairman role to focus on 737 Max crisis Boeing's board removed CEO Dennis Muilenburg as chairman amid the fall out of two 737 Max crashes that killed 346 people, according to Xinhua China. Aerospace & Defenseread more Blizzard reduces ban for gamer it punished for backing Hong Kong... Blizzard insisted that its initial decision to ban Hearthstone player Chung Blitzchung Ng Wai was not influenced by the company's relationships in China. Politicsread more President Trump tweets that Acting Secretary of Homeland Security... President Donald Trump said in a tweet Friday that acting Homeland Security Secretary Kevin McAleenan is stepping down. China Politicsread more These stocks are the biggest winners if US can complete China... The U.S. and China agreed on a substantial phase one trade deal that delays tariff hikes set to kick in next week. Politicsread more Facebook's libra cryptocurrency coalition is falling apart The news comes one week after Pay Pal announced its withdrawal as government regulators continue to scrutinize the plans. Marketsread moreUS says China tariffs scheduled to rise on Tuesday are suspended The announcement came as President Donald Trump said there is a very substantial phase one deal between the two superpowers after high-level talks this week. (news.financializer.com). As reported in the news.

countries need: The IMF said governments worried about a political backlash against big increases in the cost of heating homes and motoring, and should use the extra revenue raised from the tax to compensate consumers, according to The Guardian. To limit global warming to 2C or less the level deemed safe by science large emitting countries need to take ambitious action, IMF economists said. The Washington-based Fund said the battle against climate change could only be won if the average carbon tax levied by its member states increased from 2 1.63 a ton 907kg to 75 a ton. For example, they should introduce a carbon tax set to rise quickly to 75 a ton in 2030. Gasoline would cost 14% more on average. This would mean household electric bills would go up by 43% cumulatively over the next decade on average more in countries that still rely heavily on coal in electricity generation, less elsewhere. (news.financializer.com). As reported in the news.

inquiry: The inquiry, which has completed 40 days of public hearings and 92 private hearings, was launched following the lord mayor's failure to disclose travel and gifts, reports of councillors fighting, two CEOs taking stress leave and the council's suspension in March 2018, according to Nine News Australia. Counsel assisting the inquiry Philip Urquhart said in his closing address on Thursday that fractious and hostile relationships between councillors and staff had disintegrated by February 27 last year. To improve your experience update it here News National'Perfect storm' of animosity at WA council By AAP8 18pm Oct 10, of Perth councillors may have unlawfully manipulated the electoral process and failed to make appropriate declarations as a perfect storm of animosity peaked before the council was suspended, an inquiry has heard. The level of animosity within the City of Perth was, at times, palpable, he said. Mr Urquhart suggested the poor relationships may have resulted in a majority faction of the council attempting to appoint a favoured executive as the acting CEO. There is also evidence suggesting that a majority of the executive leadership group improperly activated a crisis management plan, which significantly destabilised the city, he said. The perfect storm that had been forming for some time had finally peaked. (news.financializer.com). As reported in the news.

john barilaro: No decision has been made by the NSW government to open up areas to strategic release, a spokeswoman for Barilaro said, according to The Independent. The NSW deputy premier is determined to make the state the number one mining investment destination and coal has a critical part to play in that. The Advisory Body for Strategic Release, which controls the state's minerals reserves, has written to the deputy premier, John Barilaro, who is also the minister for regional affairs, recommending the Berejiklian government approve the development of the Hawkins-Rumker area in the central tablelands and the Wollar field near Bylong. Approval could open the door for more areas to be developed, including the Doyles Creek mine linked to the former NSW resources minister Ian Macdonald, who is to face trial on corruption charges in February, with the former Labor powerbroker Eddie Obeid. NSW's economy is the worst performing on the east coast, with gross state product last year a low 2.6% a result that was propped up by state government spending. Massive Bylong valley coalmine in NSW blocked on environmental grounds Read more It comes as the NSW government considers legislation to ease the way for new mines by preventing planning authorities considering the environmental impact of emissions when coal is burned. (news.financializer.com). As reported in the news.

points wednesday: It sagged 4.80 points the previous day, according to The Japan Times. The market got off to a weak start and expanded losses toward midmorning, with sentiment battered by a media report that the United States and China made no progress on key trade issues in two-day deputy-level talks held ahead of the ministerial talks starting in Washington later Thursday, brokers said. The 225-issue Nikkei average rose 95.60 points, or 0.45 percent, to end at 21,551.98, after falling 131.40 points Wednesday. ; Meanwhile, the Topix index of all issues listed on the first section of the Tokyo Stock Exchange was down 0.28 point, or 0.02 percent, at 1,581.42. But both the Nikkei and Topix indexes began ascending when positive news related to U.S.-China trade hit the market, including one account saying the administration of U.S. President Donald Trump will soon allow some American firms to supply nonsensitive goods to Chinese telecom giant Huawei Technologies Co., brokers said. Although the Nikkei went up, investors were largely reluctant to trade actively prior to the U.S.-China trade talks and the earnings season in the United States from next week, said Masayuki Otani, chief market analyst at Securities Japan Inc. In the afternoon, the Nikkei remained in positive territory while the broader index failed to stay buoyant amid a dearth of fresh buying incentives after popping into the sunny side. (news.financializer.com). As reported in the news.

trump: 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, according to The Independent. You can form your own view. Speaking to Al Jazeera's Mehdi Hasan's Head to Head show, Stephen Moore said that when Trump says things that are false, that does undermine his presidential authority, and I think he should stop doing it . When pressed on what to make of Trump's patently untrue statements, Mr Moore said he is never going to say that Trump is a liar. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. Mr Moore advised the president on his campaign in 2016 and helped author 2017's Tax Cuts and Jobs Act, which the administration had said would boost the economy through cuts to middle- and working-class families, but had lowered the top income tax bracket and significantly reduced corporate tax rates, ballooning the deficit and giving the super wealthy a lower tax rate than the bottom 50 percent of households. Subscribe now Trump is an exaggerator, and I think it gets him in trouble. (news.financializer.com). As reported in the news.

rcep members: According to its plan, India will immediately remove duties on 28 percent of Chinese goods, while tariffs on other Chinese imports will be cut or eliminated every five years over a period of 20 years, according to Global Times China. The concessions, as described by the Indian side, may be less compared to what it has agreed with other RCEP members. The 28th and latest round of RCEP negotiations, which were held in Danang, Vietnam, saw India agree to cut or eliminate tariffs on 80 percent of Chinese imports under the 16-country free trade pact. India plans to cut duties on 86 percent of imports from New Zealand and Australia, and 90 percent of products from Japan, South Korea and ASEAN countries. Currently, the bleak growth outlook for the world economy has precipitated moves by the IMF, the World Bank and other global institutions to successively lower their expectations for world economic growth. Yet, the move remains highly commendable for accelerating the conclusion of a final RCEP deal, especially against the background of rising protectionism around the world. (news.financializer.com). As reported in the news.

year: Xinhua The stage is set for one of the most awaited summits of the year with the formal announcement of the dates of Chinese President Xi Jinping's visit to India, according to Global Times China. The meeting between Indian Prime Minister Narendra Modi and President Xi on October 11-12 in Chennai will be the second informal summit between the two leaders after the first one in Wuhan in April last year. Xi held an informal meeting with Indian Prime Minister Narendra Modi Friday and Saturday in Wuhan. The meeting takes place after a year and half of intense bilateral exchanges during which we have seen progress in the consensus between the two leaders to enhance strategic communication, expand cooperation, deepen mutual trust and build mutual understanding. It is a dialogue between ancient civilizations with a long history of exchanges that resonates even today. Relations between India and China are not only steeped in history but also intensely current. (news.financializer.com). As reported in the news.

minnesota: Story Continued Below In a post that landed in Minnesota at 7 10 a.m., Donald Trump lashed out at the lightweight mayor for allegedly attempting to extort his reelection effort by slapping a 530,000 bill on an arena scheduled to host a Keep America Great rally Thursday night, according to MSNBC. Story Continued Below Trump's campaign had already floated legal action against the Target Center in downtown Minneapolis for seeking to pass on the security-related costs and threatening to withhold access to the venue. I don't remember if I was just getting out of the shower or getting into it, Frey said, but it was sometime during that mundane routine that he received a call from an aide with an extraordinary message The president of the United States is tweeting about you. The president's tweet, however, marked the most dramatic escalation in the new feud with Frey's government and came as a surprise to the mayor himself. The lightweight mayor is hurting the great police and other wonderful supporters. 72,000 ticket requests already. To say the least, it's a strange feeling to wake up in the morning to the president of the United States tweeting about our city and me as the mayor, Frey, a Democrat, told POLITICO in an interview. (news.financializer.com). As reported in the news.

money: But we shouldn't just look at the carbon they have pumped into the atmosphere, but also the money our money, in banks and pension funds that they have invested and the power that huge amount of capital gives them, according to The Guardian. They can choose to either transform their businesses into something positive for the planet or to extend the shelf life of a carbon-based business model well past its best-before date. It is these companies that are standing in the way of progress. This week, the Treasury select committee asked me, Share Action and the UK Sustainable Investment and Finance Association what investors can do about the oil and gas industry. Our money can shape the strategies of these companies directly. My answer was that we need to use more than just persuasion. (news.financializer.com). As reported in the news.

peace: Our aim is to destroy the terror corridor which is trying to be established on our southern border and to bring peace and peace to the region, Turkey's President Recep Tayyip Erdogan tweeted as he announced the start of the operation, according to CNN. The Syrian Democratic Forces SDF who operate in the area are US allies. The operation is aimed at pushing Kurdish forces -- who were a key ally of the US in the fight against ISIS -- away from Turkey's border. They are led by the Kurdish People's Protection Units YPG which Turkey considers a terrorist organization. Roads were gridlocked with hundreds of fleeing families, motorcycles piled with five to six people and mattresses strapped to cars. As a barrage of airstrikes and artillery fire volleyed into northern Syria, chaotic scenes unfolded on the ground as people tried to flee to safety. (news.financializer.com). As reported in the news.

warming: Yet such a victory for BHP's board would be hollow, according to The Guardian. This is an Anglo-Australian FTSE 100 company whose chief executive, Andrew Mackenzie, was widely praised for a speech in July in which he said global warming was indisputable . Mackenzie said BHP would spend 400m 320m on developing solutions to cut carbon emissions from its operations, which span iron ore, coal, aluminium, copper, uranium and oil. Early estimates suggest a resolution calling on the world's biggest miner company to end its links to controversial lobbyists for the fossil fuel industry will attract support of only 20% or so. And, in a first for a large miner, he said the firm would set public goals next year to reduce scope 3 emissions, meaning those generated by customers further down the economic chain. Yet, three months later, it finds itself in the firing line over an issue that looks the simplest to fix cleaning up its lobbying operation by ensuring support is given only to bodies whose position is consistent with the goals of the Paris climate agreement. By the standards of the industry, BHP was seen as a leader. (news.financializer.com). As reported in the news.

wine box: Mr Clements resumed giving evidence at the Independent Commission Against Corruption on Thursday, a day after claiming Mr Huang had given him 35,000 cash in a wine box to pay his legal fees amid a late-2015 sexual harassment scandal, according to Nine News Australia. The ICAC is examining the 100,000 purportedly raised at the 2015 Chinese Friends of Labor CFL dinner, with Mr Huang - a property developer banned from making NSW political donations - believed to be its true source. To improve your experience update it here News National Chinese billionaire visited former NSW Labor general secretary before 100K was banked, ICAC hears By AAP4 05pm Oct 10, billionaire Huang Xiangmo and his interpreter visited former NSW Labor general secretary Jamie Clements in his Sydney CBD office two days before 100,000 in cash was banked by the party, an anti-corruption inquiry has heard. Chinese billionaire Huang Xiangmo. He claimed they visited because Mr Huang, who he believed wanted proximity to power wished to arrange a meeting with then-federal opposition leader Bill Shorten. Fairfax/Ryan Stuart The donations were allegedly disguised via 12 straw donors . Mr Clements confirmed on Thursday that Mr Huang and interpreter Tim Xu visited him on April 7 in 2015 at the NSW Labor headquarters on Sussex Street. (news.financializer.com). As reported in the news.

guardian: The investigation has involved more than 20 Guardian journalists working across the world for the past six months, according to The Guardian. The project focuses on what the companies have extracted from the ground, and the subsequent emissions they are responsible for, since 1965. Saudi Aramco, Saudi Arabia Ownership State Dhahran, Saudi Arabia Amin H Nasser CEO pay Undisclosed Revenue 355.9bn in 2018 Fossil fuel production 13.6m barrels of oil equivalent a day Investment in renewables 1.51bn worth of renewable energy projects tendered in 2019 Global emissions 1965-2017 59,262m tonnes of CO2, 4.38% of global total Projected increase in production 2018-30 7.2% Projected emissions 2018-30 27,035m tonnes of CO2 Future projects 18bn investment in extending Marjan and Berri oilfields off the eastern coast of Saudi Arabia to extract another 550,000 barrels per day Q&A What is the polluters project Show Hide The Guardian has collaborated with leading scientists and NGOs to expose, with exclusive data, investigations and analysis, the fossil fuel companies that are perpetuating the climate crisis some of which have accelerated their extraction of coal, oil and gas even as the devastating impact on the planet and humanity was becoming clear. The analysis, undertaken by Richard Heede at the Climate Accountability Institute, calculates how much carbon is emitted throughout the supply chain, from extraction to use by consumers. One aim of the project is to move the focus of debate from individual responsibilities to power structures so our reporters also examined the financial and lobbying structures that let fossil fuel firms keep growing, and discovered which elected politicians were voting for change. Heede said The fact that consumers combust the fuels to carbon dioxide, water, heat and pollutants does not absolve the fossil fuel companies from responsibility for knowingly perpetuating the carbon era and accelerating the climate crisis toward the existential threat it has now become. (news.financializer.com). As reported in the news.

garamendi: John Garamendi D-Calif. was on CNN this morning and said Democrats should hold a formal impeachment inquiry vote, as Republicans have been demanding, according to MSNBC. Sandy Huffaker/Getty ImagesSPEAKER NANCY PELOSI has led a fairly unified Democratic charge toward impeachment. Facebook Twitter Email Print POLITICO Playbook A small crack in Democrats' impeachment messaging By JAKE SHERMAN, ANNA PALMER, GARRETT ROSS and ELI OKUN 10/09/2019 12 51 PM EDTPresented by Rep. She's said consistently that Democrats don't need a formal vote to move forward, but a few cracks have started to show. JOHN GARAMENDI, a Democrat who represents a district in Northern California, was on CNN this morning and said Democrats should hold a formal impeachment inquiry vote, as Republicans have been demanding. Rep. (news.financializer.com). As reported in the news.

lack: But most of these 71 state-controlled companies with a few exceptions, such as Norway's Equinor are remarkable for their secrecy, their lack of accountability to any but a small cadre of top government officials, and their absence from globally coordinated attempts to tackle the climate emergency, according to The Guardian. Q&A What is the polluters project Show Hide The Guardian has collaborated with leading scientists and NGOs to expose, with exclusive data, investigations and analysis, the fossil fuel companies that are perpetuating the climate crisis some of which have accelerated their extraction of coal, oil and gas even as the devastating impact on the planet and humanity was becoming clear. State-owned companies with rights over the exploitation of national fossil fuel reserves now account for a majority of oil and gas produced around the world, overtaking publicly listed companies such as Exxon Mobil, BP and Shell. The investigation has involved more than 20 Guardian journalists working across the world for the past six months. The analysis, undertaken by Richard Heede at the Climate Accountability Institute, calculates how much carbon is emitted throughout the supply chain, from extraction to use by consumers. The project focuses on what the companies have extracted from the ground, and the subsequent emissions they are responsible for, since 1965. (news.financializer.com). As reported in the news.

policy proposal: Reserve is the focus of a year-long Guardian series, Cancer Town, focused on air pollution linked to cancer in the town, according to The Guardian. Japanese owners of plant at heart of US Cancer Town refuse to meet activists Read more The detailed policy proposal draws on the seminal 17 principles of environmental justice formulated by the National People of Color Environmental Leadership Summit in 1991- widely lauded but mostly ignored by consecutive federal governments. The plan, shared with the Guardian ahead of launch, references a number of predominantly minority communities suffering from severe pollution, including those in Flint and southern Detroit in Michigan, the Navajo nation and Reserve, Louisiana. Warren's plan states We didn't get here by accident. It is the result of multiple choices that put corporate profits before people, while our government looked the other way. Our crisis of environmental injustice is the result of decades of discrimination and environmental racism compounding in communities that have been overlooked for too long. (news.financializer.com). As reported in the news.

analysis extras: An Air India Boeing 787 will connect Stansted with the Punjabi city of Amritsar from 31 October 2019, according to The Independent. Amritsar is in the northwest of India, adjacent to the Pakistani border and closer to Islamabad than it is to Delhi. A new gateway from the Essex airport to India will start at the end of the month. 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. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. You can form your own view. (news.financializer.com). As reported in the news.

blacklisted group: China has reportedly taken some issues that the U.S. views as points of contention off the negotiating table, however, according to Market Watch. President Donald Trump on Monday said there was a good possibility of reaching a deal with China to end the yearlong tariff war, though he added he would not be satisfied with a partial deal. China confirmed that its top trade negotiator, Vice Premier Liu He, would lead its delegation in Washington for high-level talks starting Thursday. Meanwhile, the U.S. blacklisted a group of Chinese artificial-intelligence companies that it said was making technology that the Chinese government was using to repress its Muslim minority. Japan's Nikkei NIK, 0.45% rose 1.1% and Hong Kong's Hang Seng Index HSI, 0.07% gained 1% as it reopened after a holiday Monday. The U.S. on Monday also signed a limited trade deal with Japan, giving U.S. farmers benefits they lost when Trump pulled the U.S. out of the Trans-Pacific Partnership in 2017. (news.financializer.com). As reported in the news.

bull: But now is not the time to run scared, says our call of the day from a nearly 50-year market veteran Capital Wealth's market strategist Jeffrey Saut who has a knack for timing market pullbacks, according to Market Watch. In an interview with Market Watch, he insists we are in a secular bull market and the stock rally is far from over. Investors have the jitters on Tuesday, as they keep a beady eye on developments ahead of this week's U.S. -China trade talks and then another on an earnings season that's just around the corner. What Saut is referring to is a rising or falling market trend, which can last from 5 to 25 years, but is peppered by smaller bear or bull markets, respectively. The point is, a secular bull markets last 15-plus years. And most investors aren't experienced enough to recognize either, he says. (news.financializer.com). As reported in the news.

coalition government: Business hates the chaos that would accompany the first of those two scenarios, according to The Independent. It would prefer Britain to remain in the European Union but has deep misgivings about Corbyn's tax and nationalization agenda. That's likely to leave the country facing a general election which could lead to a 'no deal' Brexit or a new coalition government led by leftwinger Jeremy Corbyn that would give voters the chance to remain in the European Union. A new report published Tuesday by the independent Institute for Fiscal Studies IFS an economic research institute, in association with Citigroup, examines the economic consequences of both potential outcomes. Tensions between Johnson and EU officials are rising, leading to an exchange of views on Tuesday that suggests a deal is out of reach. The first scenario, where Britain crashes out of the European Union without a deal that protects trade, would wipe out two years of economic growth, according to the IFS. Prime Minister Boris Johnson insists he wants to follow this path if a deal cannot be secured before the October 31 deadline. (news.financializer.com). As reported in the news.

investment conglomerate: Son is going through a particularly rocky stretch after repositioning Soft Bank from a telecom operator into an investment conglomerate, with stakes in scores of startups around the world, according to The Japan Times. He built a personal fortune of about 14 billion with strategic bets on companies such as China e-commerce giant Alibaba Group Holding Ltd. Now analysts are beginning to calculate that the damage for Son's Soft Bank Group Corp. will likely reach into the billions of dollars. ; Mitsubishi UFJ Morgan Stanley Securities Co. cut its profit estimate for Soft Bank's Vision Fund, its main investment vehicle, by 580 billion 5.4 billion to an operating loss of 367.6 billion for the September quarter, citing declines in the stock prices of Uber and Slack Technologies Inc. and the withdrawn WeWork IPO. It also reduced Soft Bank Group's fiscal year operating profit by the same amount to 1.01 trillion. But the recent troubles have weighed on Soft Bank's shares, pushing them down about 30 percent from their peak earlier this year as investors grow skittish about startup valuations. In an interview with the Nikkei Business magazine, Son said he is unhappy with how far short his accomplishments to date have fallen of his goals. Profits in the Soft Bank Vision Fund segment may still see considerable volatility ahead, Mitsubishi UFJ analyst Hideaki Tanaka wrote. (news.financializer.com). As reported in the news.

job market: The reasoning behind these rate hikes was based in part on the notion that brisk hiring would enable workers to secure higher pay, which would ultimately lead to higher inflation, according to The Japan Times. Yet so far, the pace of income gains and price increases has remained slight. Downward revisions to the government's hiring data, announced in August, suggest less upward pressure on wages and inflation. ; Where we had seen a booming job market, we now see more moderate growth, Powell said in a speech at an economic conference in Denver . The Fed raised its benchmark short-term rate four times last year, ending at a range of 2.25 percent to 2.5 percent. Since the start of this year, the Fed has reversed two of those hikes, and investors expect a third rate cut late this month, according to market gauges. That step is intended to help keep short-term rates at their target level and isn't needed to support the economy, the Fed chairman added. In his speech, Powell also said the Fed plans to renew its Treasury security purchases to pump more cash into overnight money markets. (news.financializer.com). As reported in the news.

minister imran: Khan will attend the closing ceremony of the 2019 Beijing International Horticultural Exhibition on Wednesday and meet Chinese President Xi Jinping, according to China Central Television, according to Global Times China. Li said China was pleased to know that Pakistan has tided over a period of economic difficulties and was willing to continue to provide assistance. Photo IC Chinese Premier Li Keqiang on Tuesday met Pakistani Prime Minister Imran Khan, who is paying a two-day visit to China, and two sides signed agreements on infrastructure, law enforcement, security and culture cooperation. We are willing to continue to promote the high-quality development of the China-Pakistan Economic Corridor CPEC strengthen cooperation in the areas of infrastructure, trade, economy and finance, and take effective measures to promote a more balanced development of China-Pakistan trade and protect the safety of Chinese-funded institutions and personnel in Pakistan, Li said. Khan said Pakistan was willing to speed up construction of the Belt and Road Initiative with China and attaches great importance to the construction of the CPEC and the Gwadar port. Premier Li also stressed that China has always placed China-Pakistan relations in the priority of neighboring diplomacy, firmly supported the Pakistani side in defending the country's independence, sovereignty and territorial integrity and legitimate rights and interests. (news.financializer.com). As reported in the news.

mps brussels: The public would blame Parliament, Remain MPs and Brussels more than the Prime Minister, the survey found, according to The Independent. It is a boost for Mr Johnson as he comes under increasing pressure to extend Article 50 and as Britain edges closer to a general election. Voters will blame Parliament for Brexit delay, survey finds If Brexit is delayed again, where will the blame lie Not squarely at the door of Boris Johnson, according to the results of a new poll. It has emerged that Jeremy Corbyn has been given the green light to meet the Civil Service to run through his policies - a sign of a looming public vote. With the Conservatives on course for an eight-seat majority, follow the latest general election odds and our polls tracker. Camilla Tominey analyses the full poll results. (news.financializer.com). As reported in the news.

financing: Ecuador has seen five days of unrest over Moreno's plans, part of a package of economic reforms drawn up in the wake of a 4.2 billion financing deal with the International Monetary Fund IMF . The military stepped in to rescue dozens of personnel held by indigenous groups protesting the end to fuel subsidies, Ministry of Defense officials said Monday, according to CNN. The measure has also unleashed the wrath of labor and transport unions, who have called for a nationwide strike. Moreno announced the move to the southern city of Guayaquil in a televised address on Monday, as defense officials revealed the military had to rescue more than 50 of its members held hostage by protesters. Read More More than 470 protesters have so far been arrested, officials said Monday. On Monday, Ecuador's Secretary of State Juan Sebastian Roldan asked indigenous groups leading the protests to put an end to the ongoing looting and violence. Protesters have blocked major roads. context Image Object name Protesters have blocked major roads. description Protesters have blocked major roads. url leader Abel Gomez told Ecuavisa TV that the syndicates will continue to strike until the order is repealed. (news.financializer.com). As reported in the news.