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

aviation employees: DOJ officials said the indictment marks the first time a Chinese Ministry of State Security operative has been arrested and brought to the United States to face charges, according to CNN. He's charged with working to get aviation employees to inadvertently reveal trade secrets to the Chinese government. Yanjun Xu faces four charges of conspiring and attempting to commit economic espionage and theft of trade secrets, according to the indictment. This unprecedented extradition of a Chinese intelligence officer exposes the Chinese government's direct oversight of economic espionage against the United States, said Bill Priestap, assistant director of the FBI's Counterintelligence Division, in a statement. However, these presentations were purely for the benefit of the Chinese government, and often included highly technical discussions about a company's signature material design and manufacturing technology. Former CIA officer is charged with espionage Xu was one of several Ministry of State Security officials who, starting in 2013, allegedly identified aviation industry experts at at least three companies, including Cincinnati-based GE Aviation, and invited them to China under the guise of speaking at universities for an idea exchange, according to the Justice Departmen complaint. (news.financializer.com). As reported in the news.

brexit: The warning puts further pressure on the European Research Group ERG of Conservative MPs to justify a no-deal Brexit over a compromise negotiated by the prime minister that includes an agreement on cross-border financial contracts, according to The Guardian. Theresa May is seeking a settlement that at the very least would provide the legal framework for planes to fly across the channel, medicines to be imported from the continent and trillions of pounds worth of cross-border financial contracts to be maintained. Echoing concerns from the Bank of England, the Washington-based organisation said the potential for millions of financial contracts between City banks and their counterparts across rest of Europe to collapse in the event of the UK leaving the EU without a deal was a major worry. A no-deal scenario has the potential to undermine legal contracts and disrupt trade with the result that the UK would suffer a post-Brext recession, the Treasury has argued. But it warned in a report for its annual meeting, which is staged this year in the Indonesian resort of Bali, that the failure to make progress not only had implications for the UK and eurozone economies but could also drag down the global economy. The IMF said its central forecast remained that by the end of the year Brussels and London would agree a path towards a deal on trade in goods and services. (news.financializer.com). As reported in the news.

cooperation meeting: The fighter pilots will be some of 1500 Australian military personnel supporting the Asia-Pacific Economic Cooperation meeting in Port Moresby in November, according to Nine News Australia. Chinese President Xi Jinping, United States Vice President Mike Pence and other world leaders will join Australian Prime Minister Scott Morrison at the event. To improve your experience update it here News National Aussie jets protect world leaders at APEC4 23pm Oct 10, fighter jets will patrol the skies of Papua New Guinea for a week to protect world leaders at the most significant international meeting ever held there. PNG asked Australia for help preparing for the meeting, and Australia agreed to provide at least 130 million worth of in kind support for security and logistics. Of the 1500 Australians involved, most will be based in Australia providing support, with about 500 of them based in Port Moresby on the HMAS Adelaide or in other roles. That includes the fighter jets, naval ships, and special forces soldiers who will support PNG police if needed. (news.financializer.com). As reported in the news.

u.s: The electric-car maker seems to be between a rock and a hard place because it needs to raise money through an equity or debt offering, and either will be difficult, she said in an interview, according to The Toronto Star. Her fund, which has raised about 30 million U.S. to date, is focused on identifying frauds or accounting vulnerabilities that could cause a stock to lose more than 60 per cent of its market value. Quadir, the 28-year-old founder of newly launched fund Safkhet Capital LP, said she initiated a small short position in Tesla stock in July. Tesla vehicles leaving the company's manufacturing facility in Fremont, Calif., on June 20. I saw a lot of the same with Valeant. David Paul Morris / Bloomberg It's becoming more and more apparent that Tesla is having difficulties paying their bills, Quadir said. (news.financializer.com). As reported in the news.

family members: The Department of Homeland Security is required by law to review the comments and address substantive ones before issuing a final rule, according to CNN. If the rule is unchanged and survives widely expected legal changes, it could mark a sea change that allows far more immigrants to be rejected from the US or force them to choose to forgo benefits that they or family members would otherwise be eligible to receive. How Trump's new definition of 'public charge' will affect immigrants The proposed rule was published in the Federal Register on Wednesday, initiating a 60-day period for the public to submit comments. The proposal would expand the definition of the public charge provision, a concept that dates back at least to the Immigration Act of 1882 and is defined as someone who is primarily dependent on government assistance, meaning it supplies more than half their income. Read More The proposed rule, announced in September, would expand the public charge concept to include more widely used benefits, including Medicaid, food stamps, housing assistance and the Medicare drug subsidy for low-income seniors. But it only counted cash benefits, such as Temporary Assistance for Needy Families or Supplemental Security Income from Social Security. (news.financializer.com). As reported in the news.

investors: The campaign groups studied four EU member states that sell passports and 12 that offer residency rights to foreign investors, according to The Guardian. Spain, Hungary, Latvia, Portugal and the UK have granted the most golden visas to investors and their families. The European Union had gained nearly 100,000 new residents and 6,000 new citizens in the last decade through poorly managed residency and passport sale schemes that were shrouded in secrecy a report by Transparency International and Global Witness says. But some of the EU's smallest countries, Cyprus and Malta, earned the biggest sums relative to the size of their economies. After the Salisbury poisonings, allegedly by Russian spies, the UK is considering restrictions on its tier one investor visa in an effort to curtail the influence of the Kremlin. Most countries reveal limited details about the schemes, but a series of leaks have thrown light on the buyers, from the Brazilian business executive caught in a corruption scandal who obtained a Portuguese golden visa to the Russian oligarchswho acquired Cypriot passports. (news.financializer.com). As reported in the news.

investors: Overall, market participants appear complacent about the risk of a sharp tightening of financial conditions, according to The Toronto Star. Some investors have grown overly confident and possibly even complacent, said Tobias Adrian. Asset valuations appear to be relatively high in some markets, notably in the United States, the IMF said Wednesday in its latest Global Financial Stability Report. Stephen Jaffe / IFM via Getty Images Short-term risks to global financial stability have increased modestly, the Washington-based lender said. Still, the fund highlighted a number of markets where valuations are getting stretched, most notably in the American stock market. Interest rates remain low by historical standards, and financial conditions are still supporting growth, it said. (news.financializer.com). As reported in the news.

michelle: Partly because of its terrific all-Asian cast an extreme rarity and partly because it recalls earlier eras of great romantic comedies, the film has caused a lot of buzz, according to The Guardian. Perhaps there will even be a long overdue Oscar for Michelle Yeoh from Crouching Tiger, Hidden Dragon who plays the steely but loving mother. There, she learns, apparently for the first time, that her significant other Nick is heir to one of Asia's largest fortunes and has a mother intent on making sure her son does not marry a commoner, Asian American or not. But the film also stars Singapore, a place unfamiliar to most westerners. Crazy Rich Asians a sugary delight Read more To get a sense of the island city-state's meteoric rise, one need only compare the glittering metropolis depicted in Crazy Rich Asians with the hut-filled fishing village depicted in the 1940 classic comedy, Road to Singapore, starring Bing Crosby, Dorothy Lamour and Bob Hope. For some, the real shocker in the movie will be just how crazy rich parts of Asia have become. (news.financializer.com). As reported in the news.

p tsx: The Canadian dollar traded lower at 76.99 cents U.S. compared with an average of 77.13 cents U.S. on Tuesday, according to The Toronto Star. Aaron Vincent Elkaim / THE CANADIAN PRESS In New York, the Dow Jones industrial average was down 309.73 points at 26,120.84. The S&P/TSX composite index was down 253.04 points at 15,601.01. The S&P 500 index was down 31.96 points at 2,848.38, while the Nasdaq composite was down 129.28 points at 7,608.74. The November crude contract was down 1.54 U.S. at 73.42 U.S. per barrel and the November natural gas contract was up 2.6 cents at 3.29 U.S. per mmBTU. Article Continued Below The December gold contract was down 80 cents at 1,190.70 U.S. an ounce and the December copper contract was down 1.45 cents at 2.79 U.S. a pound. The Canadian dollar traded lower at 76.99 cents U.S. compared with an average of 77.13 cents U.S. on Tuesday. (news.financializer.com). As reported in the news.

wei chao: Facebook Tweet MailA large portion of Great Keppel Island, off the Queensland coast, will be bought by an overseas investor, according to Nine News Australia. Current leaseholder Tower Holdings has signed a contract with a Singaporean/Taiwanese group, Wei Chao, to buy its lease - paving the way for a major resort development. To improve your experience update it here News National Great Keppel Island lease sold to overseas investors By Alexandra Cullen Senior Journalist8 59pm Oct 10, 2018A large portion of Queensland's famous Great Keppel Island will officially be bought by the Singaporean/Taiwanese group Wei Chao. Current approvals for the Great Barrier Reef island include a beachfront hotel, luxury apartments, villas, retail shops and a marina berth. A recent agreement with a cryptocurrency consortium did not proceed. The airstrip also has approval to be extended, with the potential for direct flights to Sydney, Brisbane and Cairns. (news.financializer.com). As reported in the news.

charles: While cleaning out his wallet, Charles Dudley of Redding, Conn., found a winning, million dollar Powerball ticket, according to The Toronto Star. Antonio Perez/Chicago Tribune / TNS The ticket was from the May 2 drawing, the lottery said last week. Charles Dudley of Redding, Conn., found a virtual pot of gold in his a winning, million dollar Powerball ticket that would have expired soon, according to the Connecticut Lottery. Dudley, of Redding, had 23 days left to claim the prize when he found the ticket. The winning Powerball numbers drawn on May 2 were 5-14-31-40-50, Powerball 6. He claimed it Oct. 3. (news.financializer.com). As reported in the news.

chinese imports: The International Monetary Fund cut global economic growth forecasts for 2018 and 2019 and its 2019 US and China estimates, saying the two countries would feel the brunt of their trade war next year, according to Nine News Australia. Meanwhile, US President Donald Trump repeated a threat to impose tariffs on US267 billion A376 billion worth of additional Chinese imports if Beijing retaliates for the recent levies and other measures the United States has taken in the countries' escalating trade war. To improve your experience update it here News World Wall Street edges lower on global worries7 58am Oct 10, 2018Facebook Tweet Mail The Dow and S&P 500 has ended slightly lower as investors, worried about global growth prospects, fled from materials and industrials stocks but falling bond yields kept declines in check in the three major indexes. The materials index ended down 3.4 per cent, its biggest one-day percentage drop since February 8. If industrials and materials are weighed on because of concerns about global activity, it's going to cast a pall over the market at large since S&P 500 companies generate about half of their business from overseas markets, said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. Chemical company PPG Industries was its biggest loser, falling 10 per cent after warning that its current-quarter profit would be hit by higher raw material costs and softer demand in China. (news.financializer.com). As reported in the news.

england lionesses: England Lionesses frustrated by penalty decisions and late Australia equaliser Read more Supporters will not be in attendance at Friday's game at the Stadion HNK Rijeka with Uefa having punished Croatia after a swastika was marked on their pitch before the Euro 2016 qualifier against Italy in Split, according to The Guardian. The country's football federation apologised, though the fixture was already being played behind closed doors after supporters had engaged in racist chants in a previous game against Norway. England's players have also been reminded that every word will be picked up by TV microphones. Southgate is aware the atmosphere will be unusual and has sent his players a link to watch Bar a's match in October 2017, a 3-0 win over Las Palmas played at an empty Camp Nou after Bar a protested at the rejection of their request for the match to be postponed in the light of Catalonia's independence referendum. Facebook Twitter Pinterest Last week's Champions League match between Lyon and Shakhtar Donetsk was played behind closed doors. The England manager has also watched Lyon's Champions League game with Shakhtar Donetsk last week when Uefa banned fans from the ground for crowd trouble. (news.financializer.com). As reported in the news.

event: They include Sabu Kochupurackal Ulahannan, who is researching nutrition and inequality among children in remote tribal communities in Kerala, south-west India, according to The Guardian. He was one of 291 delegates awarded a scholarship to attend the event, in an initiative partly funded by the UK government aimed at low- and middle-income countries. The organisers of the Global Symposium on Health Systems Research in Liverpool, which runs until Friday, are compiling a dossier of immigration problems that are understood to have affected at least 10 of the event's 2,000 registered delegates. But Kochupurackal Ulahannan, who is studying for a doctorate at Sree Chitra Tirunal Institute for Medical Sciences and Technology in Thiruvananthapuram, the state capital of Kerala, was denied a visa by UK immigration officials. The refusal came after he was was asked to pay 16,000 rupees 168 equivalent to half his monthly salary, for the visa application. He was told he had an insufficient balance on his bank account. (news.financializer.com). As reported in the news.

explosion: An explosion knocked out an entire wall of the Caf Corretto in Woodbridge in the early hours of June 29, 2017, according to The Toronto Star. Vince Talotta / Toronto Star file photo The caf was empty when the massive explosion rained bricks across the neighbouring parking lot, injuring Isenor's partner-in-crime, Juan Eduardo Munoz of Vaughan, and incapacitating their getaway car, a black BMW sedan belonging to Isenor's mother. Spencer Isenor, 29, showed no emotion Tuesday as he admitted in Newmarket court that he used gasoline to blast out an entire wall of the Caf Corretto at 121 Winges Road in an industrial plaza near Hwy. 7 and Weston Rd. around 4 a.m. on June 29, 2017. While Isenor pleaded guilty to arson and illegal possession of a firearm, his plea included no reference to his motive or whether anyone hired him to bomb the caf . Caf Corretto was one of 11 cafes and social clubs raided in York Region and Toronto in a multi-jurisdictional police sweep in January 2016. Article Continued Below The June 2017 blast caused some 225,000 in damage and injured Munoz, literally knocking his shoes off, court heard in an agreed statement of facts from Assistant Crown Attorney Michael Demczur and defence lawyer Megan Schwartzentruber. Police said they seized 74 illegal gaming machines and some 200,000 in cash from the establishments during those raids. (news.financializer.com). As reported in the news.

hatice cengiz: Hatice Cengiz told The Washington Post she still has hope Khashoggi will be found, but said she has experienced sleepless, worried nights since he failed to reappear from a meeting at the consulate to arrange wedding forms, according to Nine News Australia. I no longer feel like I am really alive, she said. To improve your experience update it here News World Missing Saudi journalist Jamal Khashoggi's fianc e still demanding answers over his disappearance4 43pm Oct 9, 2018Facebook Tweet Mail The fianc e of missing Washington Post journalist Jamal Khashoggi, who vanished from Saudi Arabia's consulate in Istanbul after some routine paperwork a week ago, is demanding answers for his disappearance. A week after the disappearance of journalist Jamal Khashoggi from Saudi Arabia's consulate in Istanbul, Turkey questions remain over his movements inside the building. I don't eat. AP Photo/Hasan Jamali, File I can't sleep. (news.financializer.com). As reported in the news.

monday: The ASX200 which tracks the 200 biggest publicly-listed companies in Australia has lost 2.25% in value since Friday, having endured its worst one-day performance in seven months on Monday, with the losses extending into Tuesday, according to The Guardian. The benchmark S&P/ASX200 closed on 6,041 points, down from 6,100.3 points on Monday. Heavy losses in local bank and health stocks also dragged the market down on Tuesday with little respite in sight on Wednesday. It is now sitting 24 points lower than at the start of the year with Wednesday's session expected to see the benchmarket index fall further. Axing the tampon tax seems a good move but is it the best move Greg Jericho Read more Health stocks lost value on Tuesday after the terms of reference for the aged care royal commission were released. Analysts say there are multiple reasons why the share market is suffering broad-based declines recently, including rising global trade tensions, falling commodity prices and concerns about the banking royal commission. (news.financializer.com). As reported in the news.

year: Analysts are predicting that earnings for the S&P 500 will rise nearly 20% from a year ago, according to CNN. And according to estimates from Fact Set Research, companies should post remarkable earnings for the fourth quarter. But the fun may not last. Analysts are projecting profit growth of more than 17% from a year ago. The combination of rising bond yields, trade tension with China and tougher comparisons to this year could mean that earnings growth in 2019 will slow dramatically. Next year doesn't look as good. (news.financializer.com). As reported in the news.

tapiero: Experts are wondering about the impact of canna-tourism in Canada once recreational marijuana is legalized, according to The Toronto Star. Star Metro Vancouver Neev Tapiero has been courting enthusiastic canna-tourists for six months through his Toronto-based company Canadian Kush Tours, with plans to expand into Vancouver and Ottawa in the near future. Meanwhile the market is flooded with weed-centric tours, offering a vast array of services ranging from full-package destinations to cultural relic excursions and they're anxiously waiting to cash in on legalized cannabis. It didn't require any kind of government application, he explained in a phone interview. That's because the companies are not required to go through the federal government for licensing, he added. There's a lot of hurdles to get into the production of cannabis but tourism doesn't require those. (news.financializer.com). As reported in the news.

tuesday: He made the announcement during a conference in New York on Tuesday, according to Ackman's fund, Pershing Square Capital, according to CNN. Pershing acquired 15.2 million shares of the coffee company. His hedge fund just invested about 900 million in Starbucks. Starbucks SBUX investors appreciated the vote of confidence, sending the stock up 2.5% Tuesday. The company still has room to add stores in the United States, he said. During his presentation, Ackman outlined why he thinks Starbucks is a good bet. (news.financializer.com). As reported in the news.

china hours: Source Bloomberg More From Bloomberg Surveillance05 05Vitol Group Chairman Sees an Oil 'Fear Factor,' Not a Supply Squeeze42 minutes ago01 45Ex-HK Governor Patten Calls Brexit 'Egregious Self-Harm 57 minutes ago03 01Ex-HK Governor Patten Warns Trade Adds to Time of Caution in China1 hours ago01 05China Believes They Have a Trump Problem, CFR's Mallaby Says1 hours ago All episodes and clips Bloomberg Markets Bloomberg Markets is focused on bringing you the most important global business and breaking markets news and information as it happens, according to Bloomberg. More episodes and clips00 54China Said to Plan Major Expansion of Too-Big-to-Fail03 21Fiat Is Said to Near Sale of Marelli Car-Parts Unit02 52Tesla's Top Outside Investor Takes 11% Stake in China's NIO05 49Philippine Banking Stocks Favored, East West Bank Trust's Ramos Says Quick Take Explaining the world with Bloomberg News More episodes and clips02 33Taking From the Rich Might Not Help the Poor02 43It's Getting Harder to Spot a Deep Fake Video03 15Why Japan's Women Problem Is So Hard to Fix02 35Quantum Computing Is One Step Closer to Reality The David Rubenstein Show The David Rubenstein Show Peer-to-Peer Conversations explores successful leadership through the personal and professional choices of the most influential people in business. Buiter speaks on Bloomberg Surveillance. More episodes and clips24 05The David Rubenstein Show Barry Diller48 11The David Rubenstein Show Jeff Bezos24 03The David Rubenstein Show Dr. Jim Yong Kim24 05The David Rubenstein Show Oscar Munoz See all shows (news.financializer.com). As reported in the news.

google: The Nasdaq closed down 0.7%, while the Dow closed slightly up, according to CNN. The S&P closed about flat. During trading hours Monday, the tech-heavy index fell by as much as 1.8%. The Dow and S&P 500 fell as low as 0.8% percent each. Each of the FAANG stocks Facebook FB Amazon AMZN Apple AAPL Netflix NFLX and Google - GOOG declined. Read More Whenever you see rates rise in a rapid fashion, you typically see tech take a hit, he said. Rising bond yields and interest rates are prompting investors to back away from tech, said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. (news.financializer.com). As reported in the news.

interest policies: However, NAFTA ditched the old rulebook on trade by granting vast powers to corporations at the expense of public interest policies, the environment, and health and labour rights, according to The Toronto Star. In fact, NAFTA was so successful in expanding corporate power that it has become a model for other trade agreements. Trade used to be about the exchange of goods between two countries, which included information on the volume of goods in question and tariffs. At the same time, largely because of its Chapter 11, it has triggered the international campaign against globalization and for the protection of the environment. It allowed multinational corporations to bypass domestic courts, government policies and regulations. Without any doubt, the most positive aspect of USMCA is the absence of Chapter 11, which was designed to protect the interests of foreign investors. (news.financializer.com). As reported in the news.

matteo salvini: Italian bond yields jumped by as much as 30 basis points to the highest levels since early 2014 after the Italian deputy prime minister, Matteo Salvini, attacked the European commission president, Jean-Claude Juncker, and the economics commissioner, Pierre Moscovici, as enemies of Europe, according to The Guardian. Speaking at a news conference with the French far-right leader Marine Le Pen, he said the country would not cave to pressure from the financial markets or retreat from its plan for government spending. Italian borrowing costs jumped and the euro dropped on foreign exchanges as the war of words between Rome and Brussels escalated, while shares on Wall Street and other major international markets declined amid growing concerns over the US-China trade war. We are against the enemies of Europe Juncker and Moscovici shut away in the Brussels bunker, he said. Rome is to submit its draft budget to the commission, the EU's executive arm, which will check whether it is in line with EU rules by 15 October. Brussels has told Italy it is concerned over the plan because it would mean the nation running a larger budget deficit the gap between income from taxes and government spending than previously planned for the next three years. (news.financializer.com). As reported in the news.

mcgregor: Not after leaping out of the octagon to settle another score while a couple of his thugs jumped in to deliver a few more blows to McGregor's head, according to The Toronto Star. Khabib Nurmagomedov is escorted out of the arena after defeating Conor McGregor and going berserk. Not after putting a beating on Conor McGregor in their highly anticipated fight. Harry How / Getty Images Khabib Nurmagomedov, left, punches Conor McGregor during their mixed martial arts bout in Las Vegas on Saturday. Fighting means never having to say you're sorry, especially if you're doing it in the UFC. Nothing seems to be off limits, whether it's a dive out of the octagon or an attack with a hand truck on a bus.UFC or WWE About the only thing missing Saturday night on the Las Vegas Strip was a script and some folding chairs for Nurmagomedov to smash over the heads of his tormentors. John Locher / The Associated Press And certainly not after getting a call from Vladimir Putin offering congratulations for a job well done. (news.financializer.com). As reported in the news.

rebels members: During the run, which involved hundreds of Rebels members riding motorcycles through Queensland, New South Wales and Victoria, a heavy police presence remained throughout every leg of the journey monitoring participants, according to Nine News Australia. The operation ran from Sunday September 30 through to Sunday October 7 and involved officers from all states and territories working together with other Commonwealth agencies to deter, detect and disrupt any illicit activity by OMCG members and associates. To improve your experience update it here News NationalNSW Police charge seven Rebels during national bikie run By Tom Livingstone Associate Producer6 11pm Oct 8, have charged seven people and seized cash, drugs and a knife following the Rebels outlaw motorcycle gang's week-long national run. Seven people were charged and over 100 infringements were issued during the week long event. Officers issued 104 traffic infringements and 61 defect notices to and searched an additional 33 people seizing cash, a knife and prohibited drugs. Nine Seven people were issued court attendance notices for offences including assaulting police, possess prohibited drug, possess drug equipment, drive while suspended and custody of a knife in a public space. (news.financializer.com). As reported in the news.