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

african: China's large coffee-consuming market will help African countries diversify its coffee sales and spur production and generate more revenues, he said, according to Global Times China. China, with its big population, offers a base for product demand and business opportunity for Africa exports, said the chairman. Chinese interest in Africa's coffee is a great opportunity for African countries to increase coffee trade volumes to China, Lukenge told Xinhua in an interview on the sidelines of the 17th African Fine Coffees Conference and Exhibition in Rwandan capital Kigali. China is not just offering investment, infrastructure and financial support to African countries, but now also offering its market, said Lukenge. The conference that runs from Feb. 13 to 15 brought together more than 600 delegates, including 65 exhibitors from across Africa and beyond to discuss ways to raise the quality and competitiveness of the coffee produced in Africa. He encouraged Africa coffee producing countries to enter into joint ventures with partners in China to penetrate the market, thus expanding coffee exports to China. (news.financializer.com). As reported in the news.

calvey: The Russian Investigative Committee has asked the Basmanny Court to arrest Calvey, who is suspected of fraud on a large scale, TASS reported, quoting a spokesperson for the court, according to Global Times China. Local media also reported that four other senior managers of Baring Vostok have been detained alongside Calvey. Calvey, founder and a senior partner of the Baring Vostok private equity group, has been held awaiting a court decision, RIA Novosti news agency reported, quoting records of the Moscow Basmanny District Court. Two foreign citizens are being suspected in the case, as well as three Russian nationals. Baring Vostok is a leading private equity group in Russia and other countries of the Commonwealth of Independent States CIS which were former Soviet republics. They committed fraud on a large scale, causing a loss of 2.5 billion rubles some 37.5 million U.S. dollars RIA Novosti quoted an investigator as saying in the court. (news.financializer.com). As reported in the news.

cocoa powder: A mixture of chocolate and cream, the ganache has a luscious, smooth texture similar to the filling in French truffles, according to The Japan Times. The sake adds a subtle aroma and umami roundness. The tipple harmonizes particularly well with savory fermented products such as miso, cheese and cured meats, but Kamakura-based chocolatier Cacao shows off the drink's winsome, sweet side with a line of chocolate ganache confections, dusted with cocoa powder and infused with Yuki Otoko Junmaishu from Aoki Shuzo in Niigata Prefecture. The brew's mineral notes offset the sweetness of the chocolate, while its elegant acidity complements the bitterness of the cocoa powder. Cacao also has a line of white chocolate ganache spiked with umeshu plum wine from Aoki Shuzo. Last year, the chocolates won a gold medal at the Academy of Chocolate competition in London. ; The Yuki Otoko chocolates are available all year round, but Cacao has also collaborated with Japanese artisans to create other limited-edition products, such as a series of chocolates flavored with matcha green tea from Kyoto and another with sh ch spirits from Nishi Shuzo, in Kagoshima Prefecture. (news.financializer.com). As reported in the news.

emergency meeting: Image Courtesy eNCAFive hours before voting was to commence, the Independent National Electoral Commission INEC after an emergency meeting announced at around 3am local time that the 2019 Nigerian elections, originally scheduled for February 16, have been postponed, according to The Independent. Without delving into details, the INEC simply cited logistical complications as the reason. Peoples Dispatch16 Feb 2019 Image for representational use only. It was reported last night that ballot papers for the region of Niger east and north were missing. Both the ruling party and its primary opposition have condemned the decision by the INEC, accusing each other of attempting electoral manipulation. February 23 is the new date for the presidential and parliamentary elections, which will be followed by elections for governorships on March 9. (news.financializer.com). As reported in the news.

house: But he added that the talks were very complicated, according to The Japan Times. White House press secretary Sarah Sanders said in a statement on Friday the two economic superpowers will continue working on all outstanding issues in advance of the March 1, 2019, deadline. Both the United States and China reported progress in five days of negotiations in Beijing this week. ; Trump, speaking at a White House news conference, said the United States was closer than ever before to having a real trade deal with China and said he would be honored to remove tariffs if an agreement can be reached. These detailed and intensive discussions led to progress between the two parties. She added that the two countries agreed to state any commitments they make in a memorandum of understanding. Much work remains, however, Sanders said about the Beijing talks. (news.financializer.com). As reported in the news.

minds subscription: He is one of the last major western private equity investors to remain in Russia, with his investment company claiming to have raised nearly 4bn 3.1bn in capital, 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 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial On Friday, a judge ordered Mr Calvey be detained for 72 hours, but agreed to a longer restriction less than a day later. Michael Calvey, the founder of Baring Vostok Capital Partners, was one of several executives arrested on Friday. Prosecutors allege that the American investor was part of a criminal gang that defrauded a bank of 2.5 billion roubles approximately 29m . They accuse him of undervaluing shares transferred to a debt collector company in a related-party transaction. World news in pictures Show all 50 Created with Sketch. Created with Sketch. (news.financializer.com). As reported in the news.

options tariffs: The 25% levy is still on the table, and it will be one of the options presented in Commerce's document, according to a report by German magazine Wirtschafts Woche, according to Market Watch. But the magazine also said there will be two other options tariffs of 10%, which would match the European Union's approach, or targeted duties that only would get imposed on certain imports, such as electric cars and their parts. The report, expected to come as soon as Sunday, was requested in May by President Donald Trump, who at that time was considering new auto tariffs of as much as 25% on national-security grounds. The potential for the lesser options could be seen as a positive sign by anyone hoping for global trade tensions to ease, said Morgan Stanley strategists Michael Zezas and Meredith Pickett in a note to clients. We expect auto tariffs to be implemented by the summer, but be quickly rolled back, unless market moves change the administration's views first. Read more Study finds Japanese, German imports would get slammed by new auto tariffs Don't underestimate the risk of auto tariffs, Zezas and Pickett also wrote. (news.financializer.com). As reported in the news.

peace treaty: The disagreement over the territories, which Russia controls, has prevented the two countries from signing a peace treaty that could help transform relations. ; Russian President Vladimir Putin is sticking to demands that Tokyo first acknowledge Moscow's sovereignty over the islands, which were seized by the Soviet Red Army in 1945, according to The Japan Times. He and Prime Minister Shinzo Abe agreed in November to negotiate on the basis of a 1956 declaration under which the Soviet Union would return two islands following a peace accord, though they failed to make a breakthrough at a meeting in Moscow last month. Negotiations are deadlocked, according to three officials from Japan and Russia, speaking on condition of anonymity because the matter is confidential. The fate of the remaining two islands is the biggest sticking point, with Tokyo unwilling to give up its claims on them, a Japanese official said. The two leaders, who've met 25 times since 2012, ordered Russian Foreign Minister Sergei Lavrov and his Japanese counterpart Taro Kono to continue discussions on the sidelines of the Munich Security Conference this weekend. Putin's offer is the best deal that could be on the table, but there doesn't seem to be much hope left now, said Andrei Kortunov, head of the Russian International Affairs Council, a research group set up by the Kremlin. (news.financializer.com). As reported in the news.

seven-seat r: This investment is an important milestone for Rivian and the shift to sustainable mobility, said RJ Scaringe, Rivian founder and CEO. We are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible, he added, according to Global Times China. Scaringe said Amazon's support will help his company's goal to improve electric vehicles' performance, capability, efficiency, as well as drive innovation to improve customer experience. Rivian said the latest funds will help produce its first all-electric vehicles -- the R1T pickup truck and the seven-seat R1S SUV, which were revealed in the LA Auto Show, an international event for world automakers held in Los Angeles, Southern California last November. Rivian said it is expected to deliver its R1T electric pickup and R1S SUV to customers in late 2020. We're inspired by Rivian's vision for the future of electric transportation, said Jeff Wilke, Amazon CEO Worldwide Consumer. The two vehicles will have up to more than 400 miles about 644 km of range with extraordinary performance, off-road capability and utility, said the auto company. (news.financializer.com). As reported in the news.

renault: The French government is the biggest shareholder of Renault, according to The Japan Times. In response to the request, the Japanese Economy, Trade and Industry Ministry drafted an agreement that would allow it to oversee talks between Nissan and Renault, a role Nissan considered invasive, the paper said. The request by the Japanese automaker was made months before the arrest of former Nissan and Renault Chairman Carlos Ghosn in Japan in November, the paper said. ; The unusual request for government help indicated the level of pressure that Nissan executives sensed coming from the French side to merge, the paper said. Some senior Nissan officials discussed whether the draft accord promised the Japanese government too much involvement in Nissan's internal affairs, according to the paper. The paper quoted a ministry official as saying he was unaware of any draft document. The paper said Tokyo's direct involvement stands in contrast with the Japanese government's public stance that the alliance's future is for the companies to decide. (news.financializer.com). As reported in the news.

thursday afternoon: Canopy shares have more than doubled in the past year, as the S&P 500 index SPX, 1.09% has gained 2%. Canopy's fiscal third-quarter results were being closely watched as investors sought a further look at the state of recreational cannabis sales in Canada, after rival Aurora Cannabis Inc. revealed its results earlier this week, according to Market Watch. You would have to watch very closely to find them, though The company only released results into the Canadian securities regulator's database late Thursday, just before a 45-day deadline elapsed. Canopy CGC, 3.12%WEED, 2.50% shares rose as high as 7.9% before levelling out to roughly a 3% gain in early-morning trading Friday. When asked earlier Thursday afternoon when results would arrive, a spokeswoman for the Smiths Falls, Ontario,-based company said Canopy elected to report results after the extended trading session closed to minimize the amount of time and news stories between the earnings release late Thursday and a conference call scheduled for 8 30 a.m. A guide to pot stocks What you need to know to invest in cannabis companies The pot producer reported fiscal third-quarter net income of C 67.6 million 50.9 million compared with C11 million in the prior year, and revenue grew to C 83.1 million, up from C 9.8 million in the year-earlier period, excluding excise taxes. Eastern time Friday morning. (news.financializer.com). As reported in the news.

uk: According to new analysis of official growth figures compared with independent forecasts, the UK's economic performance currently comes in at around a third of the country's 0.7 per cent long-term trend growth rate, according to The Independent. The UK economy grew by just 0.2 per cent between October and December last year according to the official GDP measure. Household incomes are around 1,500 a year lower today than forecasts made before the referendum vote. Down from 0.6 per cent in the previous three months, that means the UK economy was around 1.2 per cent or 23bn smaller than the Office for Budget Responsibility's OBR pre-referendum forecast in March 2016. Its counting the cost report focuses on the UK's economic performance and the subsequent impact on living standards since the referendum. That's more than 800 for every household in the UK. 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 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial In fact, the UK has experienced the sharpest income growth slowdown of any economy for which the OECD publishes data, warns independent think tank the Resolution Foundation. (news.financializer.com). As reported in the news.

volatility risk: The trouble with bear markets is that stock investors typically don't know they're in one until they're in one, according to Market Watch. Investment advisers may also be taken by surprise. Here's how they made it happen. That's why it's crucial to have realistic expectations of the market, especially when it comes to volatility and risk. The best time to talk about the worst, of course, is when stocks are doing well. Investors working with investment advisers ought to make time to talk about bear markets when stocks drop at least 20% from their peak. (news.financializer.com). As reported in the news.

europe: Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe and lack of confidence around bmi's ability to continue flying between destinations in Europe, the airline said in a statement, according to The Guardian. Against this background, it has become impossible for the airline's shareholders to continue their extensive programme of funding into the business, despite investment totalling over 40m in the last six years. The company, which employs 376 staff and operates more than 600 flights a week, said it faced several difficulties in recent weeks including spikes in fuel and carbon costs, the latter arising from the EU's recent decision to exclude UK airlines from full participation in the Emissions Trading Scheme. We sincerely regret that this course of action has become the only option open to us, but the challenges, particularly those created by Brexit, have proven to be insurmountable. Instead it was forced into an unavoidable announcement. Earlier reports had suggested that the East Midlands-based airline was looking for further funding to survive. (news.financializer.com). As reported in the news.

equity firm: He has recently published Zucked Waking Up to the Facebook Catastrophe, according to The Guardian. What is your history with Facebook I've been a technology investor since 1982, and a tech optimist until very recently. In 2004, along with Bono and others, he co-founded Elevation Partners, a private equity firm. I first met Mark Zuckerberg in 2006, when he was 22 years old and I was 50. He had broken the code on the two things that historically had undermined all network-based companies he had required authenticated identity, and he had provided genuine control of privacy. Even at that time it was already obvious to me that Facebook would be as successful eventually as Google was at that time, which was to say spectacularly successful. (news.financializer.com). As reported in the news.

iran: He told the audience in Munich Saturday that the time had come for European partners to stop undermining US sanctions against Iran, according to CNN. Trump admin pushes for tougher action on Iran, swipes at Europe The time has come for our European partners to withdraw from the Iran nuclear deal and join with us as we bring the economic diplomatic pressure necessary to give the Iranian people, the region, and the world the peace, security and freedom they deserve, Pence said. It was the second time Pence called out European allies while touring Europe this week. In stark contrast, Merkel who addressed the conference about thirty minutes before Pence, called the Iran deal another bone of contention dividing Europe and the United States. Read More But is it helpful for our common goal to see to it that this negative impact that Iran has is contained by canceling the only agreement she asked. I see the Europeans on one side and the Americans on the other side, Merkel told the conference. (news.financializer.com). As reported in the news.

romania: The 2016 report suggests that SCS's operatives enjoyed a remarkable degree of access in Bucharest and paid sources who had direct and intricate knowledge of Romania's political, security and intelligence apparatus . One source is described as a very high level official in the president's office, according to The Guardian. SCS undertook the intelligence work for Alexander Adamescu, a media and property tycoon who heads one of Romania's wealthiest families. Sir John Scarlett's private intelligence firm, SC Strategy SCS which he co-owns with Lord Carlile, disclosed in a report produced for the businessman's lawyers that it had obtained information from a range of well-placed confidential sources in Romania on sensitive issues including diplomatic negotiations and the activities of anti-corruption prosecutors. Adamescu is awaiting extradition to Romania from the UK after Romanian prosecutors accused him of bribery and money laundering. Lawyers for Adamescu filed the 36-page report as expert evidence in extradition proceedings held in London in 2017. The businessman has denied the allegations. (news.financializer.com). As reported in the news.

transit line: And Sidewalk's own records mention weekly briefings with all three levels of government, according to The Toronto Star. The Star reported Thursday on Sidewalk Labs' plans to build underground infrastructure and finance a transit line to spur development in the vast Port Lands. Yet lobbying records reveal Google's sister company, Sidewalk Labs, has been communicating frequently with a wide swath of elected representatives and staff. In return, Sidewalk would recoup its investment and make a modest profit from a share of developer fees, increased property taxes and increased land value, the company's CEO said. The revelations left me very highly disturbed because all along the understanding was that this project was for a smart city for the 12 acres, and it's very clear that they want to control the destiny of the Port Lands. Rick Madonik / Toronto Star At city hall, at Queen's Park and on Parliament Hill, government officials said the sprawling project revealed by the Star Thursday evening was not part of their discussions with Sidewalk Labs, which was selected only to plan development on a small, 12-acre plot of land known as Quayside. (news.financializer.com). As reported in the news.

crypto hangover: The results didn't really matter, though, as everyone wanted to know what Nvidia would forecast for this year, when it expects to battle through the crypto hangover that has pounded the company's stock for months, according to Market Watch. That forecast came in strong. Nvidia NVDA, 1.82%reported fourth-quarter results that topped lowered expectations Thursday afternoon, thanks to slightly better sales of its graphics-processor chips for use in data centers, a growth market that slowed at the end of last year for most companies. While Nvidia expects revenue will continue to decline at scary levels for this quarter, it still expects revenue to be flat or only slightly down for the full year. As we leave the bottom and leave this inventory issue behind us, we're super well-positioned, Nvidia Chief Executive Jensen Huang confidently said on Thursday's conference call. The news sparked a big gain for Nvidia stock in after-hours trading, with shares gaining more than 8% at times during the extended session. (news.financializer.com). As reported in the news.

furniture vender: They will also explore the possibility of working together on sales to corporate customers. ; Otsuka Kagu will also raise some 3.8 billion in fresh capital by issuing new shares to third parties, including an investment fund, according to The Japan Times. The struggling furniture vender will sell 13.11 million new shares for 290.11 apiece, with payment set for between March 4 and June 30. The two companies will provide each other with know-how on selling furniture and home appliances while cooperating on human resources development, Otsuka Kagu said. On the Tokyo Stock Exchange's Jasdaq market for startups on Thursday, the company's shares closed at 460. The decision to receive an injection of outside capital came because its cash flow has dropped sharply from sluggish sales. Otsuka Kagu will use the proceeds to promote warehouse automation and store changes designed to reinforce its e-commerce operations. (news.financializer.com). As reported in the news.

canada: Moise's stance came as the United States issued a Do not travel advisory to the island and Canada made plans to evacuate more than 100 of its citizens from a resort in Haiti, according to CNN. For more than a week, protesters have set cars ablaze and clashed with police amid gasoline shortages, reports of widespread looting, and demands that Moise and Prime Minister Jean-Henry C ant step down. His administration rocked by soaring inflation and accusations of corruption, Moise said he will not allow the country to fall into the hands of criminals and urged dialogue to end a recent wave of violent demonstrations in the capital of Port-au-Prince. Several people have been killed, according to local media reports. Read More A firefighter extinguishes a car fire at the offices of Television Nationale d'Haiti during protests in Port-au-Prince on Wednesday. context Image Object name A firefighter extinguishes a car fire at the offices of Television Nationale d'Haiti during protests in Port-au-Prince on Wednesday. description A firefighter extinguishes a car fire at the offices of Television Nationale d'Haiti during protests in Port-au-Prince on Wednesday. url has seen bursts of deadly demonstrations since July, following a government-imposed fuel hike, prompting the US Embassy to warn citizens to stay off the streets. CNN hasn't been able to independently confirm the number of protest-related fatalities. (news.financializer.com). As reported in the news.

gr ie: The Football Association ratified the former England captain's appointment as a director on January 31, 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 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial After a planned visit to attend the game against Maidstone in the FA Trophy was postponed due to adverse weather, Beckham is finally set to see his new team in the flesh. Beckham joined his former Manchester United Class of 92 team-mates Ryan Giggs, Paul Scholes, Nicky Butt, Gary Neville and Phil Neville in investing in the club, purchasing a 10 per cent stake. A tweet on the club's official page read We're looking forward to welcoming a new face to The Peninsula Stadium tomorrow. Ranking the most expensive kit deals in history Show all 21 Created with Sketch. Created with Sketch. (news.financializer.com). As reported in the news.

japanese stocks: On Thursday, the index inched down 4.77 points. ; The Topix index of all first-section issues was down 12.52 points, or 0.79 percent, at 1,577.29, according to The Japan Times. It edged up 0.48 point the previous day. The 225-issue Nikkei average sagged 239.08 points, or 1.13 percent, to end at 20,900.63. The U.S. Dow Jones industrial average's retreat on Thursday also battered investor sentiment, sending the Nikkei below 21,000 soon after the opening bell, market sources said. It's difficult to recover 21,000 unless the dollar rises above 111 again, Kuramochi said of the Nikkei. The yen's strength prompted futures-linked selling of Japanese stocks, said Hiroaki Kuramochi, chief market analyst at Saxo Bank Securities Ltd. (news.financializer.com). As reported in the news.

korean peninsula: The reported invitation is widely regarded as an indication of the North Korean government's moves to attract foreign investors, according to Global Times China. It also comes as US President Donald Trump and Kim are scheduled to hold their second meeting in Hanoi, Vietnam on February 27 and 28 to discuss denuclearization on the Korean Peninsula . Observers believe such a deal could pave the way for North Korea's economic opening-up. This is bizarre, he added. Although Rogers has not received a formal invitation from Kim, he has traveled to the country many times and is optimistic about the investment prospects in the country. You could also start a fashion magazine because there are a lot of young women there. Go to North Korea and start a business as North Korea is need of many things such as soap, tablecloth and other daily necessities, Rogers told the Global Times in an earlier interview. (news.financializer.com). As reported in the news.

minds subscription: The company also owns several cafes in the US. The disposal of Baker & Spice comes days after Patisserie Valerie was bought by an Irish investment firm, Causeway Capital Partners, 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 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial Patisserie Valeriecollapsed into administrationlast month after uncovering a 40m hole in its accounts due to significant, and potentially fraudulent, accounting irregularities . CCP purchased the bakery chain out of administration, saving almost 2,000 jobs in the process. The Department of Coffee & Social Affairs will add five Baker & Spice cafes to its list of 20 existing UK branches. Created with Sketch. Created with Sketch. Death of the British high street The retailers affected Show all 9 Created with Sketch. (news.financializer.com). As reported in the news.

minds subscription: Mr Maduro said that during two hushed meetings in New York, his foreign minister invited the Washington-based special envoy for Venezuela, Elliott Abrams, to come to visit privately, publicly or secretly . 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 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial If he wants to meet, just tell me when, where and how and I'll be there, Mr Maduro said without providing more details, according to The Independent. He said both New York meetings lasted several hours. While harshly criticising Donald Trump's confrontational stance toward his socialist government, the Venezuelan president said he holds out hope of meeting the US president soon to resolve a crisis triggered by America's recognition of opponent Juan Guaido as the country's rightful leader. A senior administration official in Washington who was not authorised to speak publicly said US officials were willing to meet with former Venezuelan officials, including Maduro himself, to discuss their exit plans . Venezuela is plunging deeper into a political chaos triggered by the US demand that Mr Maduro step down a month into a second presidential term that the US and its allies in Latin America consider illegitimate. As head of Congress, Mr Guaido declared himself interim president on 23 January, saying he had a constitutional right to assume presidential powers from the tyrant Mr Maduro. His opponent, the 35-year-old Mr Guaido, burst onto the political stage in January in the first viable challenge in years to Mr Maduro's hold on power. (news.financializer.com). As reported in the news.