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

afternoon trade: The wholesale disruption of American health care being discussed in some of these proposals would surely jeopardize the relationship people have with their doctors, destabilize the nation's health system, and limit the ability of clinicians to practice medicine at their best, according to Market Watch. United Health CEO David Wichmann The shares fell 4.5% in afternoon trade, enough to pace the Dow Jones Industrial Average's decliners. The health insurance giant's stock UNH, -1.86% was up as much as 3.4% in intraday trade moments after the opening bell, then steadily traded lower throughout the session, as did the shares of the company's peers, as Chief Executive David Wichmann took a combative stance toward Medicare-for-all proposals unveiled by some Democratic presidential hopefuls. The price decline of 10.26 cut about 70 points off the Dow's price, which was up 82 points. We believe the market is ascribing an inordinately high probability that some form of Medicare-for-all proposal could become reality, Cowen analyst Charles Rhyee said in a note to clients on Tuesday. Analysts chalked up the disparity between the earnings report and the stock reaction to what they're calling the Medicare-for-All overhang. (news.financializer.com). As reported in the news.

benchmark index: It jumped 22.53 points Monday, according to The Japan Times. The market got off to a weak start following an overnight drop in U.S. equities. The benchmark index added 52.55 points, or 0.24 percent, to end at 22,221.66, after surging 298.55 points Monday. ; But the Topix, which covers all first-section issues on the Tokyo Stock Exchange, finished 1.47 points, or 0.09 percent, lower at 1,626.46. Stocks also met with selling to lock in profits, brokers said. Meanwhile the Topix bowed to selling later in the morning and failed to gather steam until the day's closing. But after the initial wave of selling subsided, both indexes returned to the sunny side, with the Nikkei remaining higher for the rest of the session. (news.financializer.com). As reported in the news.

roof: The spire and part of the roof collapsed today, exposing a large hole in the roof after a fire broke out inside the iconic 850-year-old structure during renovations, according to Nine News Australia. After the blaze was brought under control, saving the bell tower and historical relics inside, firefighters said it was obvious the fire would be severe in the first 20 minutes . Once the beams start burning, the stone exterior also made it harder for firefighters outside the building to get to the source of the flames. To improve your experience update it here News World Notre Dame cathedral fire under control after perfect storm of conditions led to blaze By Gabrielle Adams Sarah SwainCNN6 28pm Apr 16, 2019Facebook Tweet Mail The fire that blazed inside the Notre Dame Cathedral was able to spread so quickly due to the building's height, stone exterior and difficulty in accessing the towering wood ceiling beams. The stone traps heat and smoke, preventing them from working inside. A drone shot of the huge fire at Notre Dame in Paris Nine First shots have emerged inside the fire-ravaged cathedral, showing what seems to be little damage to the main area. The Notre Dame's height also posed a challenge, providing extra oxygen for the fire to breath and complicating efforts to reach the flames. (news.financializer.com). As reported in the news.

chinese presence: Take first Europe's main ports the points at which the traded goods arrive and depart that are Europe's lifeblood, according to The Japan Times. China is now heavily invested in key seaports all around the continent. The Chinese presence in Europe has now reached a significant level a tipping point where it begins to influence the shape and direction of economic and social progress in the West in ways that require not a blind eye, or the occasional wringing of hands, but a clear and constructive response. These include Piraeus in Greece, Valencia and Bilbao in Spain, Sines in Portugal, Zeebrugge in the Netherlands, Genoa in Italy, and now, following a much publicized visit of Chinese leader Xi Jinping to Rome, the ancient key port of Trieste, giving access to the heartland trade routes of Central Europe. ; In all it is estimated that China now controls one-tenth of European port capacity. On top of that a major Chinese company holds a 9 billion stake in Daimler parent of Mercedes-Benz and China has a key role in Britain's civil nuclear renewal program so far through its one-third financing of the giant new Hinkley Point nuclear plant, but with more to come. At the latest tally it also owns four European airports, large wind farms in nine European countries, a mass of real estate in the City of London and some highly prominent European enterprises such as Volvo in Sweden, Pirelli in Italy and Syngenta in Switzerland. (news.financializer.com). As reported in the news.

friday investors: Different parts of Europe are shut for trading between Thursday and Monday, according to Market Watch. Read Which markets are closed on Good Friday Investors will be looking for more evidence that Chinese government stimulus efforts are paying off as they pick through first-quarter gross domestic product, industrial output and retail sales. Aside from a few key earnings reports on Wall Street, investors will get a whiff of how the global economy is doing with a data dump from China due after U.S. markets close Tuesday. The country is seen by some as the key to holding up increasingly wobbly global growth, especially if the U.S. starts to falter as some fear it will. The rally has been underpinned by dovish central banks and a sharp decline in global real rates, and we have shown that markets are priced for growth stabilization, but not for acceleration, said Waldman and the team in a note. Read Black Rock strategist says China holds keys to global growth That brings us to our call of the day from a team of UBS strategists led by Daniel Waldman, who say investors have been too negative when it comes to global growth expectations good news for equities. (news.financializer.com). As reported in the news.

guangxi academy: Prabowo Subianto, the former general who has vowed to review China's investment in Indonesia, is challenging incumbent leader Joko Widodo for presidency of Southeast Asia's largest economy, according to Global Times China. China's growing economic influence has become a key issue in many Asian countries ... with some opposition politicians winning support after they criticized incumbent leaders for their China policies, said Gu Xiaosong, a research fellow on Southeast Asian studies at the Guangxi Academy of Social Sciences. Photo AFP Indonesia kicks off presidential and parliamentary elections on Wednesday, with the Chinese influence on the country in the spotlight. A 6 billion high-speed railway linking the capital Jakarta and mountain-fringed Bandung - the third biggest city in the country, has been put under scrutiny by the opposition, as Subianto said he will re-evaluate the contract if elected. Zhu Zhenming, a professor at the Yunnan Academy of Social Sciences, said it was too early to know if Subianto would take an outright anti-China posture if he takes office. Analysts believe that no matter who wins the election, infrastructure cooperation between the two countries is inevitable. (news.financializer.com). As reported in the news.

nuclearized iran: Hunt said the United Kingdom remained committed to plan before leaving for Iran, according to Deutsche Welle. The Iran nuclear deal remains a vital component of stability in the Middle East by eliminating the threat of a nuclearized Iran, Hunt said. We remain hopeful that the Europeans can save the deal, ministry spokesman Bahram Qasemi told a news conference broadcast live on state TV. The comments came ahead of British Foreign Secretary Jeremy Hunt's meeting with his Iranian counterpart, Mohammad Javad Zarif, in Tehran. It needs 100 percent compliance though to survive. It lifted international sanctions against Iran in exchange for the country dismantling its nuclear program. Hunt is the first European foreign minister to visit the country since the US pulled out of the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action JCPOA . Read more Iran nuclear deal Germany's special role and plans Europe against the US The JCPOA a deal between Iran and the United States, Germany, Britain, China, Russia and France, as well as the European Union was concluded in 2015 after years of painstaking negotiation. (news.financializer.com). As reported in the news.

offering activity: He said trading activity remained low, as slowing global economic growth and dovish central bank rhetoric resulted in lower government bond yields, flattened yield curves in the U.S. and Europe and significant declines in market volatility, according to Market Watch. In addition, there was a significant slowdown in initial public offering activity, as a direct result of the government shutdown. Chief Executive Michael Solomon said on the post-earnings conference call with analysts that despite a rally in the stock market during the quarter, a mixed macroeconomic backdrop and strong year-ago results was to blame for the challenging market environment. And uncertainty over the U.S.-China trade dispute and Brexit negotiations weighed on sentiment and kept issuers and investors on the sidelines, Solomon said, according to a transcript provided by Fact Set. The stock GS, 3.00% dropped 3.3% in afternoon trade, enough to pace the Dow Jones Industrial Average's DJIA, -0.01% decliners, and to pull back from a 5-month closing high on Friday. Therefore, while equity and credit markets rebounded there was lower client conviction, although client engagement improved later in the quarter. (news.financializer.com). As reported in the news.

darren calabrese: Darren Calabrese / THE CANADIAN PRESS The Toronto market had been up most of the day as investors appeared to be showing more confidence that forecasts of economic doom were overblown due to a stronger-than-expected Chinese economy and a U.S. economy that continues to perform, says Natalie Taylor, portfolio manager at CIBC. So we're seeing investors cycling away from defensive stocks, which have really led the rally since December, into less defensive sectors and this is particularly evident if you look at interest-sensitive sectors, she said in an interview, according to The Toronto Star. Taylor said setting a new high appears to be just around the corner, but moving meaningfully through that level depends on whether an acceleration of corporate growth can be a catalyst. The S&P/TSX composite index closed down 13.26 points to 16,502.20, after hitting an intraday high of 16,553.39, just 14 points off the all-time high set last July.A man works in the broadcast centre at the TMX Group Ltd. in Toronto, on May 9, 2014. Article Continued Below I think you need to see upwards earnings revisions because the valuations can only expand for so long without the help from fundamentals. Health care was up more than one per cent, recovering from a couple of down days, as Aurora Cannabis Inc. and Canopy Growth Corp. rose about 3.96 and 2.38 per cent respectively. The influential financials sector rose 0.56 per cent on better yields, with Toronto-Dominion Bank and the Bank of Nova Scotia leading. (news.financializer.com). As reported in the news.

edmonton-based aurora: Cannabis seedlings are seen at the new Aurora Cannabis facility, Friday, November 24, 2017 in Montreal, according to The Toronto Star. Aurora Cannabis Inc. says it has signed a deal to acquire the remaining stake in Hempco Food and Fiber Inc. that it does not already own. Under a friendly agreement between the companies, Edmonton-based Aurora will pay the equivalent of 1.04 per Hempco share, payable in Aurora shares. Ryan Remiorz / THE CANADIAN PRESS Hempco shares closed at 91 cents on the TSX Venture Exchange on Monday, while Aurora shares closed at 11.37 on the Toronto Stock Exchange. Hempco provides Aurora with a low-cost, high-volume source of hemp for the extraction of CBD cannabidiol a substance with therapeutic properties that's also found in cannabis. Aurora already owns approximately a 52 per cent stake in Hempco, which makes hemp-based foods and nutritional supplements for people and animals. (news.financializer.com). As reported in the news.

journalists: There are two reasons this is true, according to MSNBC. First, it's repulsive to see pompous, self-important people like Jim Acosta put themselves in the same boat as genuine journalists who are actually being killed and tortured for their work, and who are not merely the target of the president's 50-caliber Twitter gun. Professor, Media Ethics and Law, NYUshare on facebook tweet this show comments Share Print Reddit Share Share Article via Email To Your first name Message Send Whats AppThe national press is rightly often criticized for acting like babies in overreaction to the president's fake news mantra and his labeling the press the enemy of the people. Sticks and stones, Jimmy. ; Secondly, although too few journalists and media critics will admit it publicly, the press, in general, has done a fine job on its own of alienating millions of readers by consistently publishing nontrivial errors, knowing falsehoods, hiding corrections and retractions, and most importantly, introducing bias into what is allegedly the truth-telling business. Opinions can be based on accurate facts, but the opinion itself is not a fact. Memo to MSNBC and Fox partisan viewers and readers insist on calling opinions true or false because they agree with the analysis. (news.financializer.com). As reported in the news.

market observers: The current U.S. bull market became the longest on record as of Aug. 22, 2018, prompting many market observers to wonder when the party will come to an end, according to The Toronto Star. Know your ability to get through a market downturn, financial experts advise. But the best way for investors to deal with the next downturn is to remain calm and stick to a well-crafted plan. One way is to imagine your portfolio dropping by a specific number of dollars. Lisa Kramer Moshe Milevsky is a professor at York University's Schulich business school. Lisa F. Young / Dreamstime Lisa Kramer is a finance professor at U of T's Rotman business school. (news.financializer.com). As reported in the news.

poppy harlow: I think the reason we're having this argument over socialism and capitalism is that capitalism has let a lot of people down, the South Bend, Indiana, mayor said in an interview with CNN's Poppy Harlow and John Avlon on New Day, according to CNN. Buttigieg I'm 'conscious' of lack of diversity at events Buttigieg reiterated that he believes in democratic capitalism. The comments come amid a heated debate among Democrats and progressives over whether the party should more openly embrace socialist policies in the age of Donald Trump. He expressed alarm over previous comments Stephen Moore, the President's nominee for the Federal Reserve Board of Governors, made that recently surfaced in which Moore said he believed capitalism was more important than democracy. And having that framework of a rule of law, of fairness, is actually what it takes for markets to work. I would say the reverse ought to be true -- that at the end of the day, we prioritize democracy, Buttigieg told CNN on Tuesday. (news.financializer.com). As reported in the news.

state council: China's centrally administrated state-owned enterprises SOEs reported favorable financial results and an investment surge in key sectors such as 5G in the first quarter of 2019, according to Global Times China. Their aggregate operating revenue grew 6.3 percent year-on-year to 6.8 trillion yuan 1 trillion Peng Huagang, a spokesperson for the State-owned Assets Supervision and Administration Commission SASAC said at a press briefing of the State Council, China's cabinet, on Tuesday. According to the National Bureau of Statistics Thursday, during the first nine months of this year, large industrial enterprises with annual revenues of over 20 million yuan 3.14 million generated profits totaling 3.68 trillion yuan, up 27 percent year-on-year. Profit growth was even better, reaching 426.5 billion yuan, up 13.1 percent year-on-year, while the debt-to-asset ratio declined further, falling 0.2 percentage points during the first quarter, Peng said. So far, 70 percent of all central SOEs and their subsidiaries have introduced mixed-ownership reform. Officials said the good growth momentum of central SOEs came as the nation's policies such as mixed-ownership reform yielded results. (news.financializer.com). As reported in the news.

people: Nasser Nasser Facebook Twitter SMS Email Print Save Palestinian Prime Minister Mohammad Shtayyeh italks during an interview with The Associated Press, at his office in the West Bank city of Ramallah, Tuesday, April 16, 2019, according to The Independent. Stayyeh accused the United States of declaring financial war on his people and said an American peace plan purported to be in the works will be born dead. Stayyeh accused the United States of declaring financial war on his people and said an American peace plan purported to be in the works will be born dead. Nasser Nasser Facebook Twitter SMS Email Print Save Palestinian Prime Minister Mohammad Shtayyeh italks during an interview with The Associated Press, at his office in the West Bank city of Ramallah, Tuesday, April 16, 2019. Nasser Nasser Facebook Twitter SMS Email Print Save Stayyeh accused the United States of declaring financial war on his people and said an American peace plan purported to be in the works will be born dead. (news.financializer.com). As reported in the news.

soybean imports: The central government subsidy will be issued to provinces, allowing local governments to take specific measures according to their own situations, according to Global Times China. The move is intended to promote the soybean revitalization plan, which was addressed in the No. 1 Central Document issued by the government in February. Photo VCG China will continue to provide subsidies and increase research and development investment in soybean cultivation to promote its own soybean industry and reduce reliance on soybean imports, according to China's Ministry of Agriculture and Rural Affairs on Tuesday. As the biggest soybean consumption country, China uses more than 110 million tons of soybeans annually and imports count for 86 percent of the total, according to the Ministry of Agriculture and Rural Affairs website. The China-US trade war was surely a trigger for China's government to take measures to relieve the country's excessive reliance on imports, he noted. With relatively thin profit of domestic soybean crops, China has to turn to imports to meet its huge demand, Ma Wenfeng, a senior industry analyst, told the Global Times on Tuesday. (news.financializer.com). As reported in the news.

state: Its ruling came after an individual launched a public interest litigation calling for a ban, according to The Japan Times. The federal government had sent a letter to Apple and Google to abide by the state court's order, according to an IT ministry official. The move comes hours after a court in southern Tamil Nadu state refused a request by China's Bytedance Technology to suspend a ban on its Tik Tok app, putting its future in one of its key markets in doubt. ; The state court had on April 3 asked the federal government to ban Tik Tok, saying it encouraged pornography and made child users vulnerable to sexual predators. The app was still available on Apple's platforms late on Tuesday, but was no longer available on Google's Play store in India. Apple did not respond to requests for comment, while Tik Tok did not immediately respond to a request for comment on Google's move. Google said in a statement it does not comment on individual apps but adheres to local laws. (news.financializer.com). As reported in the news.

tax returns: And while the filings are a way for the Democratic candidates to spotlight Republican President Trump's refusal to release his taxes -- both as a 2016 White House candidate and as a sitting president -- the returns also have revealed that some of the biggest class warriors of the 2020 field happen to be among the wealthiest, according to The Independent. AT FOX NEWS TOWN HALL, BERNIE SANDERS MAKES NO APOLOGIES FOR HIS WEALTH This year, we had 560,000 in income, Sen. Stressing transparency in government, more than a half-dozen Democrats running for the White House have released their tax returns. Bernie Sanders of Vermont explained Monday night during a Fox News town hall. According to the figures, Sanders and his wife Jane paid a 26 percent effective tax rate on 561,293 in income, and made more than 1 million in both 2016 and 2017. Minutes before the start of the town hall in Bethlehem, Pennsylvania, the independent senator from Vermont's presidential campaign released his 2018 returns. (news.financializer.com). As reported in the news.

tandou: One was for 80m for water from a property called Tandou, south of Menindee, according to The Guardian. Tandou was owned by Webster Ltd, a company controlled by the businessman Chris Corrigan. The buybacks of water using funds allocated for purchasing environmental water under the Murray-Darling Basin plan have been controversial because they proceeded without open tender and, once announced, were criticised because of the reliability of the water purchased. Documents uncovered by the Senate reveal that the NSW Office of Water, then headed by Gavin Hanlon, played a crucial role in pushing for that deal to go ahead. Instead it would reach the savings by shrinking the lakes and reducing evaporation. Coalition pledges water licence buy back after report into Darling River fish kills Read more New South Wales was keen for the federal government to buy Tandou's water because it helped clear the way for the Menindee Lakes project, which would allow NSW to reach its target for environmental water without having to buy any from irrigators. (news.financializer.com). As reported in the news.

rhode island: Jerry Nadler of New York and Rep, according to CNN. David Cicilline of Rhode Island, sent a letter last month seeking information in the wake of a New Yorker report saying that Trump directed his then-economic adviser Gary Cohn to block the 85 billion merger. The Democrats, Rep. Nadler and Cicilline contended that White House interference in anti-trust enforcement is unacceptable and is similar to circumstances in the Nixon administration, as they requested communications between Trump and senior White House officials over the merger. White House snubs to Congress leave Republicans as well as Democrats aghast We cannot, however, provide the Committee with protected communications between the President and his most senior advisers that are at the very core of the Executive Branch's confidentiality interests, White House counsel Pat Cipollone said in the letter. But the White House sent a letter dated Monday to the Democrats turning down the request, arguing that robust confidentiality protections are essential for the proper functioning of the Presidency. (news.financializer.com). As reported in the news.

shaylah: Melbourne girl Shaylah Carmichael was one of them, according to Nine News Australia. When the five-year-old began to suddenly lose weight and was refusing to eat food, doctors were unable to diagnose the problem. To improve your experience update it here News National'More needs to be done to stop deadly button batteries from killing children' ACCCBy 9News Staff12 56pm Apr 16, week in Australia, around 20 children are taken to hospital with fears they have ingested a button battery. Shaylah's mother, Kirra Carmichael, told Today she rushed the usually healthy little girl to the emergency room when she first fell ill late last year, but just weeks ago they still didn't know if she would ever wake from a coma. Melbourne girl Shaylah Carmichael was one of them. 9news They put her up in intensive care and she was in an induced coma for two-and-a-half days. Every week in Australia, around 20 children are taken to hospital with fears they have ingested a button battery. (news.financializer.com). As reported in the news.

spending: The fundraising surge and curtailed spending left the President atop a nearly 40.8 million campaign war chest, a report filed Monday with the Federal Election Commission shows, according to CNN. In an unprecedented move, Trump's aides also have moved to consolidate their control over the national party, giving them sway over the spending decisions of the Republican National Committee. Trump raised 30.3 million during the January-to-March fundraising quarter and spent just 8.8 million, a sharp drop from his campaign's heavy spending at the end of 2018 when he crisscrossed the country, working to boost Republican congressional candidates in the midterm elections. Taken together with the war chests of the party and an affiliated committee, Trump and the party started April with more than 80 million in cash reserves. Vermont Sen. No Democrat comes close to Trump's fundraising. (news.financializer.com). As reported in the news.

news: Jaap Arriens / Sipa USA via APBreaking News Emails Get breaking news alerts and special reports, according to MSNBC. The news and stories that matter, delivered weekday mornings.SUBSCRIBEApril 16, 2019, 9 21 PM GMTBy Claire Atkinson Netflix started off 2019 by adding the most subscribers in its history, the streaming video giant said Tuesday. Netflix has been sharing more information on how many people stream its content. Reporting its first-quarter earnings, the company said it added 9.6 million subscribers from around the world in the first three months of the year, bringing its total to almost 149 million subscribers. Subscriber additions in the second quarter will be less than in the same period last year, the company said in its forecast. However, Netflix also suggested a slight slowdown in its growth trajectory. (news.financializer.com). As reported in the news.

apple skin: The ID. Roomzz will follow the rollout of an all-electric hatchback and a compact crossover in 2020 as well as battery versions of the Lavida and Bora sedans in China this year. ; China is forcing automakers to sell more electric vehicles and more battery-powered and hybrid cars to fight pollution, according to The Japan Times. VW is fighting to keep profits from sliding as it spends an unprecedented 30 billion 34 billion to roll out the industry's largest fleet of EVs. The full-size SUV, available from 2021, features rotating lounge seats covered in so-called Apple Skin an artificial leather made in part from apple juice waste, VW said ahead of the Shanghai auto show. VW is developing 70 all-electric models by 2028. Half of the more than 30 fully electric and hybrid models will be produced locally The company prepares to deliver 1.5 million alternative-energy vehicles in China in 2025. By 2023, it plans to build electric cars at 18 factories in Europe, China and the U.S. The VW group targets sales of more than 400,000 so-called electrified vehicles in China in 2020. (news.financializer.com). As reported in the news.

benchmarks fare: The Nasdaq Composite Index COMP, 0.30% shed 8.15 points, or 0.1%, to 7,976.01, according to Market Watch. What drove the market Goldman Sachs Group Inc.GS, 0.97% and Citigroup Inc.C, 2.86% reported quarterly results as earnings season gets under way, though the week will be shortened by the Easter holiday. How did the benchmarks fare The Dow Jones Industrial Average DJIA, 0.26% fell 27.53 points, or 0.1%, to 26,384.77 and the S&P 500 SPX, 0.05% dropped 1.83 points to 2,905.58. Both banks showed sharp declines in earnings, compared with the first-quarter of last year, but were able to surpass analysts' low expectations for quarterly profits. Blue-chip Goldman shares were down 2.3% Monday, weighing heavily on the Dow, while Citi shares rose 0.1% Analysts expect first-quarter earnings numbers for the S&P 500 to suffer the first year-over-year decline in nearly three years as macroeconomic headwinds continue to pull down estimates from analysts. On the revenue front, Goldman fell short of estimates while Citigroup matched, underscoring muted trading and mergers-and-acquisition activity on Wall Street in the first quarter. (news.financializer.com). As reported in the news.

child marriage: She pointed to the limited number of female landowners on the continent and said some countries have laws allowing men to block their wives from working, according to The Japan Times. In the agreement, the United States and the African Union Commission pledged to help empower women and to fight problems such as child marriage, human trafficking and sexual abuse. The president's daughter and senior adviser, on a four-day trip to promote a White House global women's project, spoke about roadblocks for women during a policy discussion with Ethiopia's president and after signing a joint statement with the African Union Commission. ; We can and we must address these barriers to women's equality and countries' prosperity, Trump said during a panel discussion held at the headquarters of the U.N. Economic Commission for Africa. She signed it at the commission's headquarters along with Kwesi Quartey, the commission's deputy chairman. On her second day in Ethiopia, Trump delivered her message on gender equity in a country long considered a patriarchal society, where women and girls struggle with access to jobs and education. Trump highlighted the collective goal to eliminate gender-based violence and stressed the shared focus on improving access to education and business opportunities. (news.financializer.com). As reported in the news.