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

earth elements: A Chinese government-backed group's offer last year to build three new international airports on Greenland sparked alarms in Copenhagen and Washington, according to The Japan Times. The Chinese plan was finally nixed in exchange for Danish funding and a pledge of support from the Pentagon. The accelerating polar ice melt has left sparsely populated Greenland, a self-governing part of Denmark, astride what are potentially major shipping routes and in the crosshairs of intensifying geopolitical competition between superpowers. ; It also has untapped natural resources like oil, minerals and valuable rare earth elements that China, the United States and other major tech economies covet. Trump's idea to buy Greenland, reported by the Wall Street Journal on Friday, is not a serious proposal, said Heather Conley, a specialist at the Center for Strategic and International Studies in Washington. Greenland has been essential to U.S. defense since World War II, when it was a base for monitoring Nazi ships and submarines passing through the Arctic Avenue, the sea gateway to the north Atlantic. But, she added, The administration has awoken to the Arctic as a geostrategic issue. (news.financializer.com). As reported in the news.

gr ie: The survey, carried out by BMG Research, also reveals the public is overwhelmingly gloomy about Mr Johnson's chances of negotiating a fresh deal, with only 19 per cent believing he will, 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 We'll tell you what's true. Only 34 per cent of voters want the prime minister to carry out ano-deal Brexit on 31 October if necessary while 49 per cent urge him to either delay, cancel Brexit altogether, or stage a fresh referendum. You can form your own view. Subscribe now Voters also favour MPs being given a final vote on the Brexit outcome rather being shut out of the process, as the government intends by 42 per cent to 39 per cent. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

interest rates: But here's a surprise things just might start to look a little brighter as the autumn rolls on, according to Market Watch. The U.S. economy is holding up so far, central banks around the world are cutting interest rates, and even the manufacturing sector may recover. Investors will need a strong stomach to get through international trade disputes, Britain's march toward Brexit, and more. To be sure, there are headwinds ahead, including the U.S.-China war over import tariffs that rattled stocks recently. Grab the Dramamine, avoid the headlines, and get used to it. But it is wise to stay invested, multiple sources tell Market Watch. (news.financializer.com). As reported in the news.

kentuckians sarin: We are confident that this will lead to more jobs for Kentuckians, according to Global Times China. Sarin is certainly not alone. As we continue to build relationships with Chinese businesses and seek investment opportunities, we are executing our long-term strategy to tap into the enormous opportunities that exist in China, Vivek Sarin, Kentucky Cabinet for Economic Development interim secretary, said in a statement earlier this week. Many state and local officials, with a more pragmatic attitude, have expressed their continued interest in boosting cooperation with China in economy, culture, education and beyond, injecting positive momentum into the bilateral relations facing headwinds. The negative factors at the national level, however, have trickled down to subnational levels, raising concerns among officials, the business community and the general public. The most important thing for subnational leaders is about the business of moving their state forward around jobs, moving their state forward around prosperity and making sure that each citizen has an opportunity to participate in the economy, and that's the motivation for their relentless efforts in seeking cooperation with China, said Reta Jo Lewis, senior fellow and director of congressional affairs at the German Marshall Fund of the United States. (news.financializer.com). As reported in the news.

lab-grown salmon: Usually, the orange innards of sea urchins served in sushi restaurants are harvested from spiky creatures that live on seabeds, according to The Japan Times. The delicacy requires much labor to collect and keep fresh. The latest example imitation uni. That makes it one of the most expensive menu items a 100-gram box of top-grade uni from Hokkaido can easily fetch 5,000. ; Although U.S.-based firms Beyond Meat Inc. and Impossible Foods Inc. are grabbing headlines these days, vegan seafood is considered the next frontier in plant-based foods due to sustainability concerns. San Francisco-based Wild Type is developing lab-grown salmon. Good Catch, based in Newton, Pennsylvania, sells crab-free crabcakes and fish-free tuna. (news.financializer.com). As reported in the news.

investigation california: Illinois has 10 confirmed cases, while 12 more are under investigation, according to CNN. California is looking into 19 such cases. FDA investigating 127 reports of seizures, neurological symptoms related to vaping States with the most cases include Wisconsin, with 15 confirmed cases and 15 more under investigation. The New York State Department of Health said Friday it was actively investigating 11 cases. Health officials in Connecticut, Florida, Iowa, Michigan, Minnesota, North Carolina, Pennsylvania, Texas and Utah also said they were aware of confirmed or potential cases. Indiana and New Jersey both reported nine cases, of which Indiana has confirmed six. (news.financializer.com). As reported in the news.

p spx: No-deal Brexit The Oct. 31 deadline for Britain to reach a deal to exit the European Union in an orderly fashion is fast approaching, and newly elected Prime Minister Boris Johnson has signaled that he is willing to face the consequences of a no-deal Brexit, come what may, do or die, according to Market Watch. One conservative lawmaker has even suggested that Johnson could take Britain out of the EU unilaterally by Aug. 24. The Dow Jones Industrial Average DJIA, 1.20% is down 3.7% on a month-to-date basis, the S&P 500 SPX, 1.44% has fallen 3.1% and the Nasdaq Composite index COMP, 1.67% has lost 3.4%. But even as high-probability risks like the U.S.-China trade conflict capture the minds of investors, there is a growing combination of lower-probability risks, so-called grey swan events, that could individually or in combination create even more heartburn for investors as the third quarter draws to a close. 1. What odds would you give on 1 UK exits EU by 24 Aug - in time for G7 or before Parliament returns. The European economy, already shaken by the global manufacturing slowdown, would also be adversely affected by new trade barriers and uncertainty that would flow from Britain's leaving the EU. 2. Art 50 passed so nothing to stop unilateral withdrawal.2 General Election straight after to get majority.3 Answer Irish border Q with NI only referendum on NI only backstop Tom Tugendhat Tom Tugendhat August 14, 2019 The U.K. Office of Budget Responsibility estimated in July that a no-deal Brexit would put the world's sixth largest economy into recession. (news.financializer.com). As reported in the news.

hua: Hua said the US side has seriously violated the one-China principle and the three China-US joint communiques, especially the Aug. 17 communique, adding that it has interfered in China's internal affairs and undermined China's sovereignty and security interests, according to Global Times China. Stressing that the Taiwan issue concerns China's sovereignty and territorial integrity and involves China's core interests, Hua urged the US side to fully recognize the highly sensitive and harmful nature of the relevant issue, abide by the one-China principle and the three China-US joint communiques. Foreign Ministry spokesperson Hua Chunying made the remarks when asked to comment on the situation that the US has been advancing the sale of 8 billion US dollars of F-16V fighters to Taiwan. She urged the US to stop arms sales to and military contact with Taiwan, otherwise, the Chinese side will certainly take countermeasures and the US will be responsible for all related consequences. China lodges solemn representations against US arms sales to Taiwan (news.financializer.com). As reported in the news.

peljesac bridge: We heard that a Chinese company is building a bridge here, according to Global Times China. I am worried if they will follow EU rules regarding environmental safety, Tulipan told Xinhua. Less than one kilometer away from him, various construction vessels were busy around huge steel piles that had been knocked into the seabed of the Adriatic. A Chinese consortium led by China Road and Bridge Corporation CRBC won the bid to build the first phase of the Peljesac Bridge and its access roads early last year. Tulipan's worry is shared by some who allege that Chinese contractors and investors do not care much about environmental issues as they explore overseas markets under the Belt and Road Initiative. The 2.4km-long cable-stayed bridge will connect the southern tip of the Croatian mainland to the Peljesac Peninsula, thus bypassing a short strip of Bosnian and Herzegovina's territory, giving Croatia its long-awaited territorial continuity and traffic convenience. (news.financializer.com). As reported in the news.

silence emptiness: The sound comes suddenly, piercing through the silence and emptiness of the surroundings, according to The Independent. In the quiet square it's a reminder that this city in northern Ukraine is very much alive -- an important declaration for a place many of whose citizens came perilously close to perishing in the worst nuclear disaster the world has ever experienced. Every hour it plays the anthem of the city. Slavutych owes its existence to the Chernobyl explosion of April 26, 1986, and it's one of the last major feats of social and physical engineering carried out by the Soviet Union. Slavutych was constructed from scratch in just two years. In the aftermath of the reactor explosion, 45,000 people were evacuated as their nearby hometown Pripyat -- once an oasis of greenery and a model of Soviet prosperity -- became a radiation-contaminated ghost town. (news.financializer.com). As reported in the news.

stock market: Check out 5 things investors need to know about an inverted yield curve However, history shows that an inversion, while not an upbeat sign about the coming state of the economy, doesn't necessarily translate to a lasting selloff in equity markets, according to Market Watch. The durability of the stock market might be a point lost on investors Wednesday afternoon. The U.S. 2-year Treasury note yield TMUBMUSD02Y, 2.99% briefly traded above the 10-year Treasury note yield TMUBMUSD10Y, 3.31% for the first time in over a decade see chart . Caption outside of wrapper for normal article images The so-called inversion of the main measure of the yield curve, or a negative spread between short-term and long-term yields, has preceded the last seven recessions. Currently, the Dow Jones Industrial Average DJIA, 1.20%, the S&P 500 SPX, 1.44% and the Nasdaq Composite COMP, 1.67% indexes are trading at least 2.7% lower on Wednesday. Caption outside of wrapper for normal article images On average, the S&P 500 has returned 2.5% after a yield-curve inversion in the three months after the episode, while it has gained 4.87% in the following six months, 13.48% a year after, 14.73% in the following two years, and 16.41% three years out, according to Dow Jones Market Data see table below Date of first 2/10-year inversion3 months later6 months later1 year2 years3 Read These stocks are falling the most as Treasury yield curve inverts Data from LPL Financial also corroborate the tendency for markets to punch higher in the long term. But over the longer stretch stocks have tended to rise firmly following the closely watched recession alarm. (news.financializer.com). As reported in the news.

views: Most recently, he was a consultant for a major USAID-funded project in Afghanistan, according to CNN. The views expressed here are his. His commentary on Greenland has appeared in various major Danish media outlets. Read more opinion on CNN. (news.financializer.com). As reported in the news.

policy advocates: Bipartisan lawmakers and foreign policy advocates have spoken out publicly against the move to cancel funds to the State Department and US Agency for International Development, warning about their impact on US foreign policy priorities, according to Nine News Australia. Behind the scenes, congressional appropriators from both parties and State Department officials have lobbied the White House to back off the planned cuts, which could be up to US 4 billion. To improve your experience update it here News World White House moves to cancel billions in foreign aid, 'undermining national security and anti-terror efforts'By CNN3 47am Aug 18, 2019Facebook Tweet Mail The Trump administration has finalised and is moving forward with a plan to cancel billions of dollars in foreign aid funding, a senior administration official told CNN today, teeing up a fight between the White House and Congress over the rarely used and controversial move known as rescission. The Trump administration has finalised and is moving forward with a plan to cancel billions of dollars in foreign aid funding. AP The Trump administration has sought to decrease what it believes is wasteful spending and make foreign aid more conditional on support for US policies. AP The official said Friday the rescission includes money to the United Nations including some peacekeeping funds funding for the Northern Triangle countries of Honduras, Guatemala and El Salvador, and cultural programs. (news.financializer.com). As reported in the news.

reuters trump: We are open for business, but we're not for sale, Greenland's foreign minister Ane Lone Bagger told Reuters, according to Nine News Australia. Trump is due to visit Copenhagen in September and the Arctic will be on the agenda during meetings with the prime ministers of Denmark and Greenland, an autonomous Danish territory. To improve your experience update it here News World'It has to be April fool's' Politicians scoff at Trump's Greenland offer By AAP8 18pm Aug 17, has dismissed the notion that it might be up for sale after reports that US President Donald Trump had privately discussed with his advisers the idea of buying the world's biggest island. Donald Trump speaks to supporters in Manchester, New Hampshire. Two sources familiar with the situation told Reuters that the notion had been laughed off by some advisers as a joke but was taken more seriously by others in the White House. AAP Talk of a Greenland purchase was first reported by the Wall Street Journal. (news.financializer.com). As reported in the news.

trump: Applying new tariffs on all Chinese imports, they cautioned, could effectively ruin Christmas, according to people familiar with the matter, according to CNN. It was a tactic that worked Trump announced the tariffs would be delayed until December 15. Under pressure from retailers to prevent a move that would likely have caused prices of popular consumer goods to spike, the President's team came to him during a meeting last week with a warning. It was one back-down amid a grueling trade war that Trump insists will eventually benefit Americans -- and will demonstrate his toughness on China. As signals mount of a global slowdown -- spurred partly by the trade war -- Trump and his advisers are increasingly looking for ways to prevent economic anxieties from reaching Americans before next year's presidential election. And while it caused markets to soar on Tuesday, the gains were erased a day later amid new fears of an impending recession. (news.financializer.com). As reported in the news.

week: As trade tensions between the United States and China continue, deep uncertainty about the state of world markets has this week left blood on the walls, according to Nine News Australia. There are serious fears of a global recession. To improve your experience update it here News National Is the global economy about to fall and take Australia with it By Kate Kachor12 19pm Aug 17, been 29 years since anyone has uttered the word recession in Australia and meant it. More than 63 billion was wiped from the ASX in just minutes on Thursday as shares plunged almost 2 per cent after a horror session on Wall Street. The latest turmoil was set off by news yields on 10-year US Treasury notes fell below the two-year yield, intra-day, for the first time since 2007. To put this in investment terms, the benchmark S&P/ASX200 index was down 136.8 points, or 2.07 per cent, to 6,459.1 points at 1200 AEST while the broader All Ordinaries was down 137.9 points, or 2.07 per cent, to 6,539.6 points. (news.financializer.com). As reported in the news.

chinese companies: During the first seven months, Chinese companies added a total of 7.97 billion dollars of investment in 52 countries participating in the Belt and Road Initiative, accounting for 12.5 percent of the total, according to Global Times China. The structure of outbound investment continued to improve, with investment mainly going into sectors including leasing and business services, manufacturing, wholesale and retail as well as mining. Non-financial ODI in 153 countries and regions amounted to 432.92 billion yuan about 61.6 billion US dollars in the period, up 3.3 percent year on year, according to the Ministry of Commerce . In July alone, the ODI surged 25.5 percent year on year to 68.06 billion yuan. No new projects were reported in sectors such as property development, sports and entertainment, the statement said. The number of newly signed overseas projects with a contract value exceeding 50 million dollars came in at 436 during the period, up 18 from a year earlier. The value of newly signed overseas contracts hit 820.1 billion yuan during the first seven months, up 1.9 percent year on year. (news.financializer.com). As reported in the news.

chinese government: They said over-the-counter brokers, which act as middlemen for buyers and sellers, have seen much of the activity. ; Measuring cryptocurrency trading volume in China or elsewhere is quite difficult, according to The Japan Times. While digital wallets used to send and receive coins can be tracked on the blockchain technology that underpins most coins, the geographical location of senders cannot. Exchanges, researchers and brokers say they have seen an uptick in activity at cryptocurrency trading venues popular with Chinese. And the Chinese government's 2017 ban on cryptoplatforms means there is little data on the sector in the country. China's economy has been hit by simmering trade tensions between Washington and Beijing. Still, the impact of the U.S-Sino trade war on China's economy and its falling currency are driving some larger investors to shift money from the yuan to cryptocurrencies, said Andy Cheung, head of operations at OKEx, a Malta-based platform popular among Chinese. (news.financializer.com). As reported in the news.

culture secretary: Jeremy Wright, the former culture secretary, claimed there was reason to believe the Saudi investment may have an effect on the Evening Standard and the Independent's news agendas and referred the case to the Competition and Markets Authority on public interest grounds, according to The Independent. Evening Standard investor unveiled as Saudi businessman Read more However, lawyers for Lebedev's news outlets successfully blocked the referral. It was claimed in court that the companies were ultimately part-owned by a Saudi bank with close ties to the government. Judges at the Competition Appeals Tribunal ruled that although the government followed the law in raising the public interest concerns about the transactions, it was too late to formally intervene. Deciding whether to pursue the case will be one of the first major tests for new culture secretary Nicky Morgan, in a political sensitive area. A government spokesperson said they were disappointed by the court's ruling and would study the judgement carefully before deciding whether to seek an appeal, which would need to be requested by 6 September. (news.financializer.com). As reported in the news.

company: Edelstein has served on the Board of Acadia Soft since the founding of the company, either as the independent director or Board Chairman, according to The Independent. Howard Edelstein was a prime mover behind Acadia Soft's transition from a fintech startup funded by a handful of investors to an industry collaborative comprised of 17 global banks and infrastructures, including CME, LSE, DTCC, and Euroclear, said Acadia Soft CEO Chris Walsh. The company plans to immediately begin a search for a replacement. Acadia Soft is now an industry-governed and majority-owned private Reg Tech company focusing on compliance with Uncleared Margin Rules and other related sources of systemic industry risk, and I can't thank Howard enough for his enormous contributions in establishing this company over the past decade. Today Acadia Soft is a mature, well-funded company that has emerged as the industry standard for managing risk related to the posting of margin and collateral. Back in 2009 when I first got involved, Acadia Soft was a promising idea being incubated by its founders, Craig Welch and Dan Moyse, whom I had worked with at Thomson and Omgeo developing similar innovations in risk mitigation, Edelstein said. (news.financializer.com). As reported in the news.

decision wednesday: It gave no details or any indication plans for trade talks in Washington in September might be affected, according to Market Watch. President Donald Trump has said he plans to impose 10% tariffs on an additional 300 billion of Chinese imports starting Sept. 1, extending penalties to almost everything the United States buys from China. Beijing will take unspecified necessary countermeasures, China's Cabinet said in a one-sentence statement. The Chinese announcement made no mention of Trump's decision Wednesday to postpone penalties on about 60% of those goods until Dec. 15. Meanwhile, investors were keeping an eye on U.S. bonds. Still, officials from China's foreign ministry later said they hope a trade deal will still be worked out, and said Trump and President Xi Jinping have remained in contact. (news.financializer.com). As reported in the news.

u.s: However, with bonds and gold overbought and bullish speculative positions at relative extremes last week, that indicates gold may be due for a near-term pause, he said, according to Market Watch. Gold for December delivery GCZ19, 0.00% on Comex fell 7.60, or 0.5%, to settle at 1,523.60 an ounce after settling at 1,531.20 on Thursday, the highest most-active contract settlement since April 2013. Drivers for gold have included global growth in negative interest rate bonds, the decline in real interest rates in the U.S., and uncertainty regarding U.S./China trade policy and political unrest in Hong Kong, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. September silver SIU19, -0.22% lost 9.2 cents, or 0.5%, to 17.122 an ounce up 1.1% for the week. An intensifying U.S.-China trade war and growing worries over the global economy saw investors pile into haven assets. Read Why gold's strong undercurrent' has some analysts eyeing 2,000 an ounce Gold settled 1% higher for the week and have rallied 6% so far in August, according to Fact Set Data. (news.financializer.com). As reported in the news.

gr ie: As official data from HM Land Registry reveals the latest trends on property prices in England and Wales show an average increase of less than 1 per cent in the last year making the average property now worth just under 230,300 separate figures suggests the number of people applying for money to fund their next purchase is dropping, 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 We'll tell you what's true. Despite the ultra-low cost of borrowing and steady, if not falling, property prices across the country, homeowners are staying put in increasing numbers, according to the latest raft of telling house price and mortgage figures out this week. You can form your own view. Subscribe now Even first-time buyers aren't completing their first purchase as enthusiastically as they once were, down 1.5 per cent in June 2019 compared with the same month last year, according to Finance UK the trade body that represents the banking and finance industry. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

bottom line: The warning came during a week of volatility on Wall Street over the President's trade war with China and concerns about a potential recession, according to CNN. See, the bottom line is, I know you like me and this room is a lovefest and I know that, but you have no choice but to vote for me, because your 401 k s ... down the tubes. Trump spoke to an arena full of supporters in Manchester, sying that the economy will tank if he is not reelected. Everything is going to be down the tubes, the President said. Speaking in a state he narrowly lost to Hillary Clinton in 2016, Trump claimed full responsibility for the health of the American economy, and said the stock market would have crashed without his presidency. So whether you love me or hate me, you've got to vote for me, he added. (news.financializer.com). As reported in the news.

index: The benchmark FTSE 100 index, which contains the biggest companies listed in the City, and the medium-sized FTSE 250 index were affected, according to The Guardian. Trading was due to begin at 8am but City workers were left in limbo until 9.40am as LSE technical staff battled to resolve the problem. A software glitch struck the London Stock Exchange early on Friday, leaving investors unable to buy or sell shares for more than an hour and a half. Once the systems were brought online, the FTSE 100 edged into positive territory, gaining 23 points or 0.33% by late afternoon trading. It is the first time trading has been disrupted since June 2018, when the market failed to open for an hour owing to a software glitch. An LSE spokesman confirmed that the outage was the longest since 2011, when the market froze until lunchtime. (news.financializer.com). As reported in the news.

el: Donald Trump's foreign policy was wrong, he told supporters at a rally in Ciudad Ju rez, across the border from El Paso, Texas, according to CNN. He also denounced what he called the US president's derogatory attitude towards Mexicans. The Mexican presidential campaigns were heating up and Andr s Manuel L pez Obrador, running for the third time for the highest office in the land, sounded defiant. (news.financializer.com). As reported in the news.