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

draft amendment: Under the current IPO system, new shares are subject to approval from the China Securities Regulatory Commission before being listed, according to Global Times China. Other revisions in the draft are made in light of new progress of reforms and new developments of the capital market. The latest revisions to the law include rules on the newly-devised science and technology innovation board, which will pilot a registration-based initial public offering IPO system. A draft amendment to the law was previously submitted to the top legislature for first reading in April 2015, mainly to meet the legislative demand of reforming the IPO system toward a registration-based one. New revisions were submitted for a second reading in April 2017 to improve regulation on such areas as stock trading, acquisitions of listed firms, information disclosure and investor protection. The first draft also improved rules on developing a multi-layer capital market system, strengthening investor protection, promoting securities industry innovations and enhancing regulation. (news.financializer.com). As reported in the news.

education camp: Asked what would happen if a Uighur refused to attend, Shu Le's principal, Mamat Ali, became quiet. ; If they don't want to come, they will have to go through judicial procedures, Ali said after a pause, adding that many stay for at least seven months, according to The Japan Times. Shu Le is one of an unknown number of re-education camps in Xinjiang, a Muslim-majority region at the heart of President Xi Jinping's Belt and Road initiative to connect Asia with Europe. Inside are hundreds of minority Muslim Uighurs who have no way of leaving without an official escort, even though Chinese officials who took a group of foreign journalists around the transformation through education camp this past week insisted they were there voluntarily. The U.S. State Department says as many as 2 million Uighurs are being held in the camps, a number disputed by Chinese officials even though they won't disclose an official figure. The schedule was tightly controlled, with events planned from early morning to 11 p.m., and it included stops in many of the same places I visited on an unguided 10-day trip to the region in November. I participated in a government-sponsored tour along with four other foreign media organizations through three cities in Xinjiang. (news.financializer.com). As reported in the news.

equity indexes: First-quarter gross domestic product the official scorecard of the economy's health comes at a sensitive time for Wall Street investors, who have pushed equity values higher, shaking off sluggish domestic growth and the inversion of the yield curve last month a reliable recession gauge, according to Market Watch. Against that backdrop, equity indexes have drifted to their loftiest levels in six months, with bears arguing that it's only a matter of time before an economic slowdown enveloping much of the rest of the world takes hold in the U.S., while bullish investors see few impediments to further gains if the Federal Reserve keeps its interest-rate hike plans on hold for the near term. A first reading of U.S. economic performance in the first three months of 2019 is set to be released next Friday. The soft-landing scenario is playing out for the global economy and it is difficult at this point to see any risks on the horizon that are big enough to drag the U.S. into a recession, wrote Torsten Sl k, chief economist at Deutsche Bank, in a Thursday research note. Nicholas Colas, co-founder of market research firm Data Trek, said sufficient economic momentum to support earnings growth will be the key US equities clearly like this outlook, as long as it comes with enough economic growth to deliver earnings growth in 2H 2019, Colas wrote in a Friday research note, referring to the market's belief that there won't be a rate hike by the Fed over the several months. This backdrop of no recession and stable growth and low inflation and low rates is bullish for risky assets, in particular equities, he said. (news.financializer.com). As reported in the news.

europe asia: Xie said China will participate in the renovation and expansion of Italy's Genoa and Trieste ports, and in the future the two ports are expected to be the new Belt and Road hubs in the Mediterranean region, which will give full play to Italy's regional and economic strengths in Belt and Road construction, according to Global Times China. Xie believed that by enhancing communication and exploring consensus, the European Union's Strategy on Connecting Europe and Asia and the Belt and Road Initiative can boost Asia-Europe cooperation with mutual benefits and win-win outcomes, and better tackle global challenges. The signing of a memorandum of understanding on jointly advancing the Belt and Road construction between China and Italy will further tap bilateral cooperation potential, said Xie Fuzhan, president of Chinese Academy of Social Sciences CASS in a speech delivered at the seminar. When it comes to the future of globalization, Agostino Giovagnoli, Executive Board member of Italy's Luigi Sturzo Institute ILS said We cannot talk about contemporary Italy -- as for any country in the world -- without talking about the globalization process in which China is playing an increasing role. A common vision is indispensable to the development of stable bilateral relations and mutually-beneficial cooperation, according to Giovagnoli. Great importance has also been attached to the cultural globalization. (news.financializer.com). As reported in the news.

law firm: Joining forces with the largest law firm in the world devoted solely to business litigation, Walter Merricks decided to take on the biggest class action in British history, believing millions of consumers had paid higher prices in shops for 16 years because of allegedly excessive transaction fees, according to The Independent. I thought, Right. So when Mastercard didn't respond to a ruling from the European commission that it was profiting unfairly on transaction fees, the lack of contrition propelled him into action. You're on', the former financial ombudsman told the Observer. Last week Merricks's ambition was vindicated when the court of appeal ruled in his favour, meaning the Competition Appeal Tribunal, which had previously thrown out his claim, will have to reconsider it. Let's make this go. (news.financializer.com). As reported in the news.

office cubicle: A reading pillow is propped up against one of the walls, but there isn't enough space for him to stretch out his body, according to The Japan Times. A clothesline rope stretches between two wall sconces for him to dry his laundry, and his kitchen is equipped with a small sink and a single induction cooktop. ; What his room lacks in space, however, is made up for in height. His apartment looks more like an office cubicle, with a desk and computer chair dominating a third of the room. The ceiling of the apartment is 3.6 meters high and three windows have been built into the exterior wall, letting in plenty of light. And unlike many single-person apartments with so-called unit baths that combine a toilet and bathtub, Ito's crib has separate rooms for a shower and high-tech bidet toilet. A white ladder takes Ito up to a 4.5-square-meter loft that's 1.4 meters high tall enough for him to sit upright. (news.financializer.com). As reported in the news.

abuse: Many reported that they had been shoved or barged and a significant percentage said they had been hit, punched or kicked, according to The Guardian. Nearly nine in 10 teachers said they had received some sort of verbal or physical abuse from pupils in the past year. The NASUWT union found that 24% of the nearly 5,000 teachers who sent in feedback said they were on the receiving end of physical attacks each week. Eighty-six per cent said they had been sworn at and 46% said they had been verbally threatened. Several said they did not report poor behaviour because they feared school leaders would take no action, while others said they had been warned that doing so would harm their careers. Funding cuts hamper knife crime prevention in England, say schools Read more Many teachers said the abuse and attacks made them less enthusiastic about their job. (news.financializer.com). As reported in the news.

putin: He made the remark in an interview with Xinhua on Friday ahead of Russian President Vladimir Putin's trip to China for the second Belt and Road Forum for International Cooperation BRF slated for April 25-27 in Beijing, according to Global Times China. Putin's participation in the first and second forums demonstrates that the China-Russia ties are special, Li said. Photo Xinhua The Belt and Road Initiative BRI has facilitated the alignment of development strategies between China and Russia and raised bilateral relations to higher level, Chinese Ambassador to Russia Li Hui said. The ambassador recalled that in May 2015, Chinese President Xi Jinping and Putin signed a joint declaration on cooperation in linking the construction of the Silk Road Economic Belt and the Eurasian Economic Union EAEU drawing a new blueprint at a strategic level for the development of bilateral relations. The initiative comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road. The BRI, proposed in 2013, aims to build trade and infrastructure networks connecting Asia with Europe and Africa on and beyond the ancient Silk Road routes. (news.financializer.com). As reported in the news.

security commission: Huawei dismissed the allegations in a statement cited by the newspaper, according to The Japan Times. Huawei does not comment on unsubstantiated allegations backed up by zero evidence from anonymous sources, a representative from Huawei told The Times. The CIA accused Huawei of receiving funding from China's National Security Commission, the People's Liberation Army and a third branch of the Chinese state intelligence network, the British newspaper reported, citing a source. ; Earlier this year, U.S. intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report. The company, the CIA and Chinese state security agencies did not respond immediately to requests from a reporter for comment. The company has said that such concerns by governments are unfounded. The accusation comes at a time of trade tensions between Washington and Beijing and amid concerns in the United States that Huawei's equipment could be used for espionage. (news.financializer.com). As reported in the news.

sign: If you would like to continue to read ... Please sign in or create an account using the button below, according to The Independent. Follow the instructions to create an online subscription. Thank you for reading your allotted free articles on our site. If you are already a print subscriber, an online subscription is FREE. If you need help, please contact our office at 308 382-1000. Sign UpLog InPurchase a Subscription (news.financializer.com). As reported in the news.

re: When you do that, you're sometimes correct, according to Market Watch. And you're sometimes wrong. It's easy to see what's happening now, compare that with what has happened recently, decide you see a trend and conclude that the trend will continue. Oh, so very wrong. Sometimes really surprised. One major thing investors should expect is to be surprised. (news.financializer.com). As reported in the news.

year u.s: Jeff Jonas, who co-manages the fund, described his investment strategy and spoke about several representative stocks in an interview, according to Market Watch. Seeking higher yields The fund seeks long-term growth while paying a high dividend, which may make it appealing for those without pensions in retirement. But the Gabelli Healthcare and Wellness Trust has a distribution yield above 5% and also pursues long-term growth. But where do you shop for yield Yields on 10-year U.S. Treasury notes TMUBMUSD10Y, 0.00% are less than 2.6%. If you look at preferred stocks with low investment-grade ratings, you will probably have to pay a premium for paper yielding 5% or more. A closed-end fund The main objective of the 194 million Gabelli Healthcare and Wellness Trust GRX, 1.46% is long-term growth; however, providing income is a big objective as well, Jonas said during an interview. Or you could take more risk and go for high-yield junk bonds the SPDR Bloomberg Barclays High Yield Bond ETF JNK, 0.08% has an SEC yield of 5.85%. But none of those options offer any potential for growing your investment while paying you dividends. (news.financializer.com). As reported in the news.

men: In 1997, around 25% of under-34s were living in their parents' home, according to the Office for National Statistics, according to The Guardian. Today the figure is 32%. For men, it's even higher; 37% of men aged 18 to 34 lived with their parents in 2017. This major change to family life has happened shockingly fast. The ONS report, Journeying into Adulthood, charts how much the major milestones in life have changed. Now it is 23. In 1997, the typical age at which someone left home was 21. (news.financializer.com). As reported in the news.

case: House prices keep dropping and there's no end in sight Greg Jericho Read more For the past two decades, give or take the odd correction, it's been the same tale of rising prices and increasingly locked-out first homebuyers, according to The Guardian. And so it was the case in my own working-class, albeit gentrifying, suburb where the call of auctioneers became the soundtrack to my Saturday mornings, as 30 or 40 people would compete kerbside to win a 1m mortgage for a house that needed work. They attend auction after auction, but are out-bid by baby boomer and overseas investors, who are amassing huge property portfolios to diversify from stocks, or, in some case, simply get rich and retire early. Younger buyers, watching aghast, couldn't get a bid in unless their parents stumped up extra cash from the auction sidelines. And then, somewhere during the course of 2018, the tide definitively turned. It was the age when consultants flogged cheap apartments under the guise of free property seminars, and spruikers wrote books about how to buy 10 homes before you retire, which inevitably included a chapter on millennials spending too much money on smashed avo and drop-in yoga classes. (news.financializer.com). As reported in the news.

liberation army: The CIA accused Huawei of receiving funding from China's National Security Commission, the People's Liberation Army and a third branch of the Chinese state intelligence network, the British newspaper reported, citing a source, according to Nine News Australia. Earlier this year, US intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report. To improve your experience update it here News WorldUS says Huawei funded by China spy agency By AAP2 48pm Apr 20, 2019Facebook Tweet MailUS intelligence has accused Huawei Technologies of being funded by Chinese state security, according to the Times of London, adding to the list of allegations faced by the Chinese technology company in the West. Huawei dismissed the allegations in a statement cited by the newspaper. The company, the CIA and Chinese state security agencies did not respond immediately to requests for comment. Huawei does not comment on unsubstantiated allegations backed up by zero evidence from anonymous sources, a Huawei representative told The Times. (news.financializer.com). As reported in the news.

mongolian news: The 70th anniversary of the establishment of diplomatic relations between Mongolia and China coincides with the 90th anniversary of our agency's weekly Mongolian News in Chinese, according to Xinhua China. So we co-organized the essay writing competition with the Chinese Embassy in Mongolia and the Chinese Cultural Center in Ulan Bator, said Badamdorj Ganchimeg, director-general of Montsame, at the award ceremony. The competition was organized by the state-owned news agency Montsame to celebrate the 70th anniversary of diplomatic relations between China and Mongolia. Mongolian News in Chinese is the only newspaper published in Chinese in the country. I am confident that the essay writing competition will encourage Mongolian students to learn the Chinese language deeply and increase their knowledge about China, said Li Wei, cultural counselor of the Chinese Embassy in Mongolia. Ganchimeg noted that the essay writing competition aims to promote Mongolian students' Chinese writing skills and discover their views on Mongolia-China friendship. (news.financializer.com). As reported in the news.

tesla: That has led to the duplication of certain areas of experience or expertise among its directors, the company said in a filing, according to CNN. Now Tesla is shaking things up to allow the board to operate more nimbly and efficiently. The electric-car maker said that it wants to streamline corporate oversight because its board has grown by four members over the past five years. Two directors have agreed not to stand for reelection at Tesla's annual meeting this year, and two more will leave in 2020 or 2021. Cautious Tesla investors have also been pleading for with the company to tighten oversight of CEO Elon Musk. The rules on CEO tweets weren't made for Elon Musk Such agreements did not result from any disagreement between Tesla and any of such directors, the company said. (news.financializer.com). As reported in the news.

government policy: Chief Cabinet Secretary Yoshihide Suga also reiterated the government policy, after Koichi Hagiuda, executive acting secretary-general of Abe's Liberal Democratic Party, said Thursday, If the Bank of Japan's tankan business sentiment survey for June shows a risky outlook there would be a different development, according to The Japan Times. The BOJ will release the next quarterly tankan business confidence survey on July 1. The government has maintained that the consumption tax will be raised from 8 percent to 10 percent unless the economy suffers a shock on the scale of the global financial crisis triggered by the 2008 collapse of U.S. investment bank Lehman Brothers Holdings Inc. ; It is necessary to raise the tax to secure a stable source of revenue for a social security system oriented to all generations in dealing with the biggest challenge of a declining birthrate and aging population, Finance Minister Taro Aso said at a news conference. Hagiuda told reporters Friday his remarks had represented his personal view and that he did not intend to object to the government's policy. Aso suggested Hagiuda's stance had not been widely known by high-ranking ruling party lawmakers and members of the government before his comments, saying, At least Mr. Health minister Takumi Nemoto said, It is important to fully prepare for the tax increase, while education minister Masahiko Shibayama said, We have a consistent stance to raise the tax after taking every possible measure against a possible reduction in demand. (news.financializer.com). As reported in the news.

amgen inc: The three biggest losers in the Health Care Select Sector SPDR Fund ETF XLV, 0.16% were Regeneron Pharmaceuticals Inc, according to Market Watch. REGN, -2.81% Incyte Corp. Investors' anxiety seemed to have expanded from health retailers, managed-care companies and health insurers to include biopharma companies on Thursday. INCY, -0.48% and Amgen Inc. It is now down 0.7% for the year, while the S&P 500 SPX, 0.16% has notched gains of 16%. Pfizer Inc. AMGN, -2.74% The health-care ETF edged up 0.2% on Thursday, erasing an intraday loss of as much as 1.3% after falling 2.9% on Wednesday. (news.financializer.com). As reported in the news.

cambodian economy: If the country is excluded permanently from EBA and other preferential trading arrangements, the associations warned, their sectors and the Cambodian economy will take a serious hit, according to The Japan Times. Hun Sen claims that the international community is unfairly singling out Cambodia. Already, Cambodia's tax-free access to the vast European Union market, granted under the EU's Everything But Arms scheme, is in danger of being suspended over such violations. But the truth is that intensifying pressure on the country is consistent with a broader global shift, in which investment is increasingly guided even dictated by environmental, social and governance ESG factors. ; Gone are the days when strong ESG performance was a nice bonus for investors. Investment decisions by emerging market funds are thus increasingly preceded by rigorous ESG screenings screenings that, after 34 years of Hun Sen's dictatorial rule, Cambodia has no chance of passing. Pension trustees and fund managers now insist that the companies in which they invest operate in ethical, transparent ways that limit reputational risk. (news.financializer.com). As reported in the news.

haven t: It's been a bit of a rocking-chair market, in that we've been doing a lot but haven't been going anywhere, Matthew Bartolini, head of SPDR Americas research at State Street Global Advisors, told Market Watch in an interview earlier in the week, according to Market Watch. Indeed, Monday's action marked the lowest full-day, total composite trading volume representing trading on the New York Stock Exchange and its main affiliates and on the Nasdaq roughly 5.7 billion shares since Sept. 10, according to Dow Jones Market Data. However, the recent resurgence for stocks after a more than six-month, corrective hiatus has many market participants questioning its durability, as trading volumes remain near the lowest levels of 2019. In fact, Monday's session was even eclipsed by the holiday-shortened Christmas Eve session's turnover of 5.79 billion shares. The average volume for April, if it holds, would represent the worst April since 2013, according to Dow Jones Market Data. To make a finer point, the rolling 10-day average of total composite volumes are their lowest since Sept. 12 and the volumes are on pace for the lowest monthly average since last August. (news.financializer.com). As reported in the news.

investment values: Soft Bank will invest 333 million from its 100 billion Vision Fund, while Toyota Motor Corp. and automotive parts supplier Denso Corp. will invest a combined 667 million. ; Toyota will also contribute up to an additional 300 million over the next three years to help cover the costs of building commercial self-driving vehicles, Uber said, according to The Japan Times. Uber CEO Dara Khosrowshahi said the funding will help maintain Uber's position at the forefront of a transforming transportation industry. Uber Technologies Inc. said Thursday that the investment values its Advanced Technologies Group ATG which works to develop autonomous driving technology, at 7.25 billion. The funding allows Uber to transfer some of the substantial cost of developing self-driving cars to outside investors. In its filing for an initial public offering this month, Uber cautioned that development of self-driving technology is expensive and time-consuming and may not be successful, and that the company lagged certain competitors. That is likely to appease some of Wall Street's concerns over Uber's spending on the autonomous unit, which has topped 1.07 billion since the program started in 2016. (news.financializer.com). As reported in the news.

uber: Japanese carmakers Toyota and its compatriot Denso, a car parts supplier, will invest a combined 667m in Uber's Advanced Technologies Group ATG . The remainder will come from Japanese conglomerate Soft Bank's 100bn Vision Fund, whose largest investor is Saudi Arabia, according to The Guardian. Toyota and Soft Bank are already major investors in Uber, with the latter owning 16%. In addition to the consortium's 1bn investment, Toyota will provide up to a further 300m over three years to help fund ATG's development of commercially available self-driving cars. With weeks to go until the loss-making San Francisco firm's stock market float, expected to value thecompany at up to 100bn, Uber said it had secured new financial backing for its plans to develop autonomous vehicles. A new independent ATG board will be formed using the investment from Soft Bank, Toyota and Denso. Eric Meyhofer, the head of ATG, will be the chief executive. Six directors will be appointed from Uber, one from Soft Bank and one from Toyota. (news.financializer.com). As reported in the news.

donald trump: On the heels of China's use of Artificial Intelligence to track the faces of Muslims, Donald Trump continues his spectacular demonization campaign, seemingly much to the disgust of pro-love, pro-war Democrats, according to MSNBC. Donald Trump has in some ways radically shifted the configuration of American violence. And this is by a President who is popular because of his willful act of forgetting that is nostalgia. Trump's environmental violence, most notable through his deregulation and gutting of the EPA, will be his most lasting legacy. The most forgotten violence in this country is the genocide of Native American sisters and brothers. America's violence is usually dumped in the Never Remember category. (news.financializer.com). As reported in the news.

influence: Peskov said Russia had insisted from the start of the two-year probe that whatever investigators did, they would find no Russian meddling, because there was no meddling . He also said the report would have a negative influence on Russia-US relations, which he said were not in the best shape . Russia's president, Vladimir Putin, has previously said allegations that the Kremlin sought to sway the election in favour of Donald Trump were nonsense, according to The Guardian. Peskov also criticised Mueller's investigations into meetings between Kremlin-linked businessmen such as Petr Aven, the co-founder of Alfa Bank, Russia's biggest commercial bank, and Trump officials, saying it was absurd to submit what he called routine business discussions to such intense scrutiny. In the form in which it has been published, the Mueller report contains no new information all this information has already been published by various media outlets, said Dmitry Peskov, the Kremlin spokesman. These businessmen attract investment, and so the more contacts they have, the better, Peskov said. Peskov said the businessmen mentioned in Mueller's report, who also included Kirill Dmitriev, the head of Russia's sovereign wealth fund, and Sergei Gorkov, the chair of Vnesheconombank, a major state-owned Russian bank, had informed Putin of the most important aspects of their conversations with figures close to Trump. They look for new contacts, and communicate with the relevant officials in the government and this goes on in all countries. (news.financializer.com). As reported in the news.

retirement account: I have to be honest I thought the hard part was living within your means and saving for retirement, according to The Independent. It's not. But 25 million or so Americans, ages 55 to 64, are, like me, wondering what they will live on during their golden years. Trying to figure out how to cash out your nest egg your tax-deferred retirement account, your taxable investments or both so it will last the rest of your life can be even harder. There are many variables when figuring out retirement finances. It has me gnawing at my fingernails. (news.financializer.com). As reported in the news.