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

beijing: Relations between Hanoi and Beijing are under intense pressure after a Chinese oil exploration ship and coast guard escorts spent recent weeks in Vietnam's exclusive economic zone, according to Nine News Australia. Mr Morrison landed in Vietnam yesterday afternoon, making him the first Australian leader since 1994 to make an official bilateral visit to the country. To improve your experience update it here News World Scott Morrison's swipe at China amid Vietnam tensions By AAP6 15am Aug 23, Minister Scott Morrison has fired a shot at coercion in Southeast Asia as tensions run high between Vietnam and China over movements in the South China Sea. Australian Prime Minister Scott Morrison right and his wife Jenny are welcomed as they arrive at Noi Bai Airport in Hanoi. An Indo-Pacific where we respect each other's sovereignty and independence, because if we allow the sovereignty or independence of any of our neighbours to suffer coercion, then we are all diminished, he said. AAP Speaking at a business dinner in Hanoi, Mr Morrison said the two countries wanted an open, inclusive and prosperous Indo-Pacific. (news.financializer.com). As reported in the news.

dow jones: This column is neither for nor against President Trump, according to Market Watch. The Dow Jones Industrial Average DJIA, -2.37% would have been 10,000 points higher if President Trump had not done the right thing. My sole job is to help investors. Obama, Bush and Clinton should have done it, but they did not do it. Before you send me hate mail, please understand that those are not my words. What's the right thing To stand up to China. (news.financializer.com). As reported in the news.

gr ie: The warmer temperature also means heavy foods are less welcome than usual, it's time to put our kitchens in summer mode as well, according to The Independent. It means quick, fresh and tasty lunches and dinner. It also means an abundance of fresh, light and tasty ingredients. Whether you want to eat at home, at the park, or at the beach, here are a few cookbooks that will likely inspire you for your next dinner with friends or family. Not only does it makes us want to go to the farmer's market and cook literally all of this book's recipes, but it also makes us want to get a plane ticket for Greece or Italy to see some of the book's wonders in person. 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 Mediterranean by Susie Theodoru 17.99, Barnes & Noble The book Mediterranean is as generous as the cuisines that inspired it. (news.financializer.com). As reported in the news.

interest rates: How are the major benchmarks faring The Dow Jones Industrial Average DJIA, -2.37% rose 49.51 points or 0.2%, at 26,252.24, powered in large part by 4.2% gain in shares of Boeing, according to Market Watch. Meanwhile, the S&P 500 SPX, -2.59% slipped 1.48 points, or less than 0.1%, to 2,922.95, while the Nasdaq Composite Index COMP, -3.00% gave up 28.82 points to 7,991.38, a decline of 0.4%. All three benchmarks finished well off their worst levels of the session, after the Dow at one moment fell by 186 points. Some Federal Reserve officials also disappointed investors hoping for confirmation that policy makers will cut interest rates again next month, but the focus on Friday will be on a speech by Fed Chairman Jerome Powell at the Jackson Hole conference in Wyoming. Read Stocks say the consumer isn't as strong as government data suggests What's driving the market From Jackson Hole, Dallas Fed President Robert Kaplan said he was open to more interest-rates cuts but stopped short of full-throated support for further rate reductions. Of that group, only George is a voter on the Fed's rate-setting Federal Open Market Committee this year but their commentary points to a divergence of opinion around monetary policy that Powell will need to reconcile when the Fed next gathers Sept. 17-18. However, Kansas City Fed President Esther George and Philadelphia Fed President Patrick Harker, said on CNBC that they would like to hold interest rates steady. (news.financializer.com). As reported in the news.

investors traders: Opinion If the stock market is irrational, what do you call the bond market Nonetheless analysts say there are reasons for investors and traders to buy subzero-yielding bonds, according to Market Watch. Here are just a few of them Bagholders Investors who scoop up negative-yielding bonds are betting on the value of the securities to keep rising, in effect, wagering that there are other bagholders. Textbook finance theory, itself, has struggled to explain why investors might want to tie their money in debt that if held through the entirety of its existence would give back less money than what had been invested, said Kathryn Kaminski, portfolio manager at Alpha Simplex. With the European Central Bank widely expected to restart their asset purchasing program, European bond-buyers could be relying on the central bank to hoover up their portfolios of negative-yielding securities. In July, an auction for 4 billion euros of 10-year German government bonds TMUBMUSD10Y, -4.88% sold at a negative yield of 0.26%, but at a premium price of 102.6 cents to the euro. Although investors buying bonds with subzero interest rates are, in effect, paying for the privilege to hold on to an investment, that cost can be more than offset if the security's price rises. (news.financializer.com). As reported in the news.

manufacturing survey: IHS Markit said its surveys also pointed to slowing growth in the U.S. service sector, according to The Japan Times. August's survey data provides a clear signal that economic growth has continued to soften in the third quarter, said Tim Moore, an economist at IHS Markit. IHS Markit on Thursday said its Flash Purchasing Managers' Index PMI for manufacturing fell to 49.9 earlier this month from 50.4 in July, pointing to a contraction in the sector for the first time since September 2009. ; Readings below 50 point to reductions in activity and the August data could heighten fears the U.S. economy is on track to slip into recession, dragged down by economic weakness overseas and an escalating trade war with China. A manufacturing survey from the Kansas City Federal Reserve showed its composite index slipping to -6 in August, the lowest reading since March 2016, from -1 in July. More than a third expected trade tensions to persist for one to two years. Over 55 percent of survey respondents said they expected the most recent U.S. tariffs on Chinese goods to hurt their business, while less than 6 percent expected a positive impact. (news.financializer.com). As reported in the news.

breathing: Fifty meters underground, the air is hotter than at the surface, according to CNN. The humidity is overwhelming and you can smell the stench of the dozens of men who have already spent half their day down here, inside one of hundreds of gold mines deep in the jungle in southern Venezuela. He's muddy, sweaty and breathing heavily, crushing stone after stone around him. Venezuela boasts the largest oil reserves in the world, but gold is increasingly its lifeblood. In Caracas, it allows Maduro to allegedly buy the military's loyalty to his embattled government. In the area around the mines, gold has replaced the near-worthless bolivar, with even the cost of a haircut quoted in gold. (news.financializer.com). As reported in the news.

dream retirement: Smart Shares will revolutionize the way you invest, according to MSNBC. With them, you can invest in the very best growth-stage companies, without going through the stock market. The event educates investors on the massive income potential of Smart Shares, and how they can set you on your way to a dream retirement. In other words, they give you ownership in the company, while completely bypassing Wall Street. This is huge news, because compared to regular shares, Smart Shares can provide much larger returns. Previously Smart Shares were reserved for millionaires and elite insiders Now, thanks to S.E.C. Rule 4-A6, businesses can issue certain types of Smart Shares to investors of any means. (news.financializer.com). As reported in the news.

homes: Between 2013 and 2017, McCloud wooed investors with a string of fundraising schemes that promised returns of up to 9% a year from his Happiness Architecture Beauty HAB homes businesses, according to The Guardian. But it now emerges that small investors who put 2.4m into one of the bonds are on course to lose between 74% and 97% of their money in a worst-case scenario. For 20 years the star of Channel 4's Grand Designs has lectured the nation about how to create their dream home but his own property empire has turned into a nightmare. Another set of investors, who sank 1.9m in one of the HAB companies in 2013 and were told to expect dividends of at least 5% by the end of 2016, say they have not received a penny and have been fobbed off . In an extraordinary parallel with his TV series, in which those with grand designs are routinely beset with budget overruns, construction problems and relationship bust-ups, McCloud has admitted that he went through a great deal of heartache and pain as he tried to find ways to keep the main HAB company viable amid project delays, systemic faults and large debts. I will of course do everything in my power to improve the current situation. I stand shoulder to shoulder with those who have lost money, McCloud said when contacted by the Guardian. (news.financializer.com). As reported in the news.

loy yang: More than one million Victorian households could be left without power if an early heatwave hits the state, the Australian Energy Market Operator has warned, according to Nine News Australia. It pins the problem on a coal-fired station at Loy Yang and a gas-fired plant at Mortlake, which are both months away from being repaired. To improve your experience update it here News National Fears over blackouts for millions of Australians this summer By AAP3 28pm Aug 22, must come to the table and help prevent widespread blackouts on extremely hot days this summer, the federal energy minister has declared. If both power station outages were extended over the summer, and if no additional supply was secured, involuntary load shedding may be experienced in Victoria during extreme weather events, AMEO said. Other states within the national electricity market aren't expected to experience such problems this summer. This could lead to between 260,000 and 1.3 million households being left without power for four hours. (news.financializer.com). As reported in the news.

market data: Remember the controversy in 2012 when President Obama said, If you've got a business, you didn't build that, according to MSNBC. Somebody else made that happen. All market data delayed 20 23 hours ago Cal Thomas NY Times rewrites history as propaganda for left-wing Dems By Cal Thomas Tribune Media York Times changes 'Trump urges unity vs. racism' headline after backlash New York Times changes headline after being considered 'problematic'; former Clinton adviser Mark Penn reacts. In context, the president was trying to make the point that in addition to our own hard work, others contributed to whatever level of success we have attained. Republicans took his words as just another indicator that Democrats want more government control over our lives and businesses. Obama suggested no one achieves success on his or her own. (news.financializer.com). As reported in the news.

source hub: Some have expressed concern that chaos in Hong Kong, which is a major source and hub for investment into the mainland, could hit China's ability to attract overseas capital, according to Global Times China. But analysts argued that the mainland will become even more attractive to foreign investors, as business conditions are set to improve through reform and opening-up measures and as other major economies, including in the US and Europe, are engulfed in their own economic and political chaos. Overseas investors in Hong Kong and other parts of the world continue to pour money into the mainland, even as the Chinese economy is battling rising external and domestic pressure, latest data showed. Stable investment In the first seven months of the year, direct investment from Hong Kong into the mainland totaled 55.37 billion, slightly up from 54.75 billion a year earlier, according to data from the Ministry of Commerce MOFCOM . In the same period, China attracted foreign investment totaling 78.8 billion, up 3.6 percent year-on-year, MOFCOM data showed. As the Chinese economy continues to upgrade, foreign investors still have a huge interest in the mainland, particularly in some high-tech sectors, said Liu Xuezhi, an economist at the Bank of Communications. In July alone, China attracted a total of 54.82 billion yuan 7.75 billion in foreign investment, increasing 8.7 percent year-on-year. (news.financializer.com). As reported in the news.

shanghai: Experts said the gains show that domestic investors have an appetite for such assets that can't be satisfied yet due to the limited number of companies and tradable shares, according to Global Times China. Turnover reached 585 billion yuan 82.7 billion in the first month, equal to 13.8 percent of the total turnover on the Shanghai market, data released by the Shanghai Stock Exchange showed. Photo IC In the first month of operations for the science and technology board, the 28 initial listings have seen their share prices surge by an average of 171 percent from the IPO level. The turnover ratio on the new board was high at 78 percent on the first trading day, but it declined and stabilized at 10-15 percent at present, the Shanghai Stock Exchange data showed. Dong Dengxin, director of the Financial Securities Institute at the Wuhan University of Science and Technology, said that the turnover ratio on the new board was a little too high, reflecting a supply-demand imbalance. In comparison, the average daily turnover ratio on the A-share markets was only 0.74 percent in 2018, according to domestic media reports. (news.financializer.com). As reported in the news.

summer camp: As you may recall, they descended on Sicily in their private jets for the seventh annual summer camp hosted by Google, this year with a focus on sustainability, according to The Independent. Then as I was writing this, OMG, the Duke and Duchess of Sussex were spotted using a private jet. Travel I write about private aviation and the business of luxury travel Share to facebook Share to twitter Share to linkedin Much like before and after the World Economic Forum, it was hard to avoid blaring headlines in recent weeks calling out the alleged hypocrisy of billionaires, CEOs, celebrities and environmentalists. That was several days ago and the controversy is still going strong. Above a headline from The New York Post. Attendees to both the World Economic Forum in January and the recent Google summit were attacked for flying by private jet. (news.financializer.com). As reported in the news.

trade restrictions: This came as it lost its market share to Huawei and customers held on to their current phones before a 5G overhaul, according to Global Times China. Xiaomi's stock, which has nearly halved from its IPO price, was down 6 percent during afternoon trading on Wednesday. Photo IC Chinese smartphone maker Xiaomi Corp posted its slowest revenue growth as a public company, missing analysts' estimates. China's smartphone market, the world's largest, is shrinking but consumers there are rallying in support of Huawei as it battles its US trade restrictions. Globally, the smartphone market shrank 2.3 percent in the same period, according to research firm IDC. Xiaomi, which debuted its shares in July last year, said on Tuesday that it failed to increase smartphone shipments, which stood at 32 million, in the second quarter. Xiaomi's market share in China declined by a fifth in the April to June quarter, even as Huawei's share surged by 31 percent, according to research firm Canalys. (news.financializer.com). As reported in the news.

yamashita wharf: I've come to the conclusion that in order to achieve growth and development, we need IR. Yokohama aims to open the resort at Yamashita Wharf, adjacent to popular sightseeing spot Yamashita Park, in the latter half of the 2020s, city officials said, according to The Japan Times. Japan is widely seen as a prize market for casino operators due to its affluent population of 128 million and proximity to Asia's wealthy gamblers. Yokohama joins the city and prefecture of Osaka, as well as Nagasaki and Wakayama prefectures, in vying to host so-called integrated resorts that are expected to attract more tourists and investment. ; We must look to Yokohama's future, the 20 to 30 years ahead, Mayor Fumiko Hayashi told a news conference, announcing its preparation of an official bid. The government is expected to initially allow casino resorts at three sites. Prolonged discussions meant no resorts will be open in time for the Tokyo 2020 Olympics. Lawmakers finished legalizing casinos last year after a series of controversial bills and years of debate, with opponents citing risks of increased gambling addiction and organized crime activity. (news.financializer.com). As reported in the news.

outlook: Market Insiderread more Fed Vice Chair Clarida says the global economic outlook has... Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month, according to Xinhua China. Marketsread more Trump's trade threats increased the chances for a recession The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates. Technologyread more Dow plummets after Trump orders US manufacturers to leave China Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more What to watch in the markets in the week ahead The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars. Market Insiderread more Here's a list of American products targeted by China's new... Here are the products that stand to be the most affected by China's new tariffs on 75 billion worth of U.S. goods. Politicsread more South Korea is scrapping a security deal with Japan here's why... Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region. Marketsread more Trump 'hereby' orders US companies to find an alternative to... We don't need China and, frankly, would be far better off without them, Trump tweeted. (news.financializer.com). As reported in the news.

pensioners: Single pensioners now receive 926.20 a fortnight, while a pensioner couple receives 698.10 each a fortnight, according to Nine News Australia. The pay rise, due to take effect on September 20, will give single pensioners around 1 day extra just enough for a coffee from 7-Eleven and a little less for couples. To improve your experience update it set to get a small pay rise in a matter of weeks By Sharon Labi Eddy Meyer7 01pm Aug 22, will have more money in their pockets in a matter of weeks with a change to deeming rates coinciding with a scheduled pay rise. Changes to the deeming rate will be backdated to July 1, giving those pensioners affected a lump sum payment next month. But deeming assumes these assets earn a set rate of income, no matter what they really earn. AMP's technical Strategy manager, John Perri, explains the deeming rate The deeming rate is just a mechanism that social security uses to assess income from a range of investments including fixed term deposits, cash, shares, managed funds and superannuation over aged pension age. (news.financializer.com). As reported in the news.

point: He was accused of abusing underage girls and reportedly making some of them pleasure several of his rich and powerful friends, according to The Guardian. In the piece in the New Republic Morozov explains that he is on the point of cutting ties with Brockman on account of the agent's continuing silence over his connections to Epstein.. John has been in the news because of his troubling connections to Jeffrey Epstein, writes Morozov. In the exchange, published in the New Republic magazine, agent John Brockman recommends to writer Morozov who he represents as literary agent that he meet with Epstein, calling him a billionaire science philanthropist who has been extremely generous in funding projects of many of our friends and clients . Epstein, 66, killed himself on 10 August in New York while awaiting trial on federal sex trafficking charges. He then cites an email exchange between himself and Brockman from 2013 which includes references to Prince Andrew's foot massage It's been more than a month since Epstein was arrested on the latest charges. And, now that I've found that old email he sent me, I cannot believe that he knew absolutely nothing of Epstein's wild sexual escapades. Still, no word on the issue. (news.financializer.com). As reported in the news.

ball: This July was the hottest month ever recorded on Earth, according to MSNBC. Glaciers are melting. It's become clear that I'm not going to be carrying the ball, I'm not going to be the president, so I'm withdrawing tonight from the race, Inslee shared with Rachel Maddow of MSNBC. Oh, and speaking of politics, as an update to yesterday's brief, Kamala Harris has announced on one of her two twitter accounts that she will be participating in CNN's September 4th climate change town hall. Yet this Administration continues to deny climate change. Kamala Harris Kamala Harris August 21, 2019 Solar Edge CEO shakeup Solar Edge Technologies, Inc. Americans deserve leaders who will fight for our planet.I look forward to discussing the climate crisis at CNN's town hall September 4. (news.financializer.com). As reported in the news.

violence: That is why the four of us accepted French president Emmanuel Macron's invitation to join 32 colleagues to form a G7 Gender Equality Advisory Council, according to The Guardian. On Sunday, we will present the culmination of our work; a package of recommended laws focused on ending gender-based violence; ensuring inclusive, equitable, and quality health and education; promoting the economic empowerment of women; and combating discrimination, ensuring full gender equality in policies and public life. Yet we cannot ignore the fundamental role that governments can play in either promoting or thwarting change. In each area we point to laws from around the world that illustrate the type of action countries should take. Almost 40% have at least one constraint on women's rights to own property. Most countries including the G7 still have discriminatory laws that violate the rights of girls and women. (news.financializer.com). As reported in the news.

florida home: The Trump administration has targeted two of the few bright spots in Cuba's otherwise beleaguered economy, tourism and foreign investment, as part of its campaign to pressure the Communist government to reform and drop support for embattled leftist Venezuelan President Nicolas Maduro, according to The Japan Times. Analysts say Trump appears to also be eying the 2020 presidential elections, with the swing state of Florida home to many Cuban Americans who welcome the harder line on Havana and his base applauding it as part of his broader attack on socialism. Data from the Statistics Office had already shown a 20 percent drop in arrivals in June, after Washington that same month banned cruises to Cuba and made it harder for U.S. citizens to get an exemption from the ban on travel there. ; The sustained decline reverses a boom in arrivals and therefore the broader tourism industry in recent years following the U.S.-Cuban detente under former U.S. President Barack Obama that President Donald Trump is now unraveling. The administration's measures are hurting an economy already battling a cash crunch in the wake of a steep decline in aid from leftist ally Venezuela and a drop in exports. That will spell a 8.5 percent drop from the 4.7 million reported last year. The Cuban government last month revised sharply downwards its estimate for full-year visitors arrivals to 4.3 million from an original goal of more than 5 million. (news.financializer.com). As reported in the news.

gr ie: This is in comparison to just 24 per cent of men in work, according to The Independent. Female workers were found to be more likely to feel that they do not have enough savings to maintain a decent standard of living in retirement with 54 per cent of women feeling unable to save for retirement and just 37 per cent of men saying the same. The report, carried out by the RSA and the Women's Budget Group, found 38 per cent of working women feel their job does not provide them with enough income for a decent standard of living. 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. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. You can form your own view. (news.financializer.com). As reported in the news.

rate: It comes at a time of concern that the risk of a recession over the next year or two is rising, in part because of Trump's aggressive use of tariffs against China and other key trading partners, according to The Japan Times. The financial markets will be hoping for a clear sign of forthcoming Fed interest rate cuts. Under the glare of a spotlight, Chairman Jerome Powell may signal Friday what the Federal Reserve will do or can do to strengthen the economy and restore confidence at a time of nagging uncertainties and global weaknesses. ; Powell will give the keynote speech to an annual gathering of global central bankers in Jackson Hole, Wyoming. Investors have already baked in the expectation that the Fed will cut its benchmark short-term rate next month for the second time this year. The big question, though, is this Would a Fed rate cut or even multiple rate cuts over the next several months really matter Borrowing rates are already historically low. The intent would be to encourage borrowing and spending by consumers and businesses. (news.financializer.com). As reported in the news.

li family: Though the company stressed that the deal was based on considerations for the UK company's attractive land assets and ability to generate cash, the move immediately revived lingering speculation about the Li family shifting its businesses from the Chinese mainland and Hong Kong to overseas, according to Global Times China. Liang Haiming, an economist at Hainan University, said that CK Asset made the deal most likely due to the cheaper price of the target as the pound depreciated sharply due to its Brexit chaos. On Monday, Hong Kong-based real estate developer CK Asset Holdings, which is controlled by the family of the city's richest man Li Ka-shing, announced that it had agreed to acquire Greene King, a pub chain and brewer in the UK, for 4.6 billion pounds 5.6 billion . CK Asset will also take over Greene King's debts. Since the Brexit referendum in 2016, the UK currency has depreciated about 18 percent against the Hong Kong dollar. According to some estimates, Li has unloaded assets in the mainland and Hong Kong worth nearly 200 billion yuan 28.33 billion over the past few years, while investing more than HK 400 billion 51 billion in the UK alone. Li has indeed withdrawn a large amount of money from the mainland and Hong Kong to invest in Europe and the US, particularly the UK, Liang said. (news.financializer.com). As reported in the news.

phillip swagel: The office upped this year's deficit projection by 63 billion and the cumulative deficit projection for the next decade by 809 billion, according to The Japan Times. The higher deficit projections come even as the CBO reduced its estimate for interest rates, which lowers borrowing costs, and as it raised projections for economic growth in the near term. The return of 1 trillion annual deficits comes despite Trump's vow when running for office that he would not just balance the budget but pay down the entire national debt. ; The nation's fiscal outlook is challenging, said Phillip Swagel, director of the nonpartisan CBO. Federal debt, which is already high by historical standards, is on an unsustainable course. The number crunchers at CBO projected that the deficit for the current fiscal year will come to 960 billion. The CBO said the budget deal signed into law earlier this month, which took away the prospect of a government shutdown in October and the threat of deep automatic spending cuts, would boost deficits by 1.7 trillion over the coming decade. In the next fiscal year, which begins Oct 1, it will exceed 1 trillion. (news.financializer.com). As reported in the news.