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

angus mccoss: He was appointed chief executive in 2017, according to The Guardian. Angus McCoss, the head of exploration, was also ousted with immediate effect. Tullow said Paul McDade was leaving after almost two decades at the London-listed company. The company will be run by the chair, Dorothy Thompson, a former Drax boss, until a new chief executive is found, while Mark Mac Farlane, its east Africa chief, becomes chief operating officer. Tullow Oil shares Tullow was the biggest faller on the FTSE 250 after shares crashed 72% to 70.1p its lowest close since December 2003 and wiping more than 1bn off the value of the company. Thompson said The board has been disappointed by the performance of Tullow's business and now needs time to complete its thorough review of operations. (news.financializer.com). As reported in the news.

defeat: When he joined Bordeaux in the summer he was hoping to add some nous to an ambitious project centred around youth, but the 3-1 defeat at Marseille would have felt awfully familiar, according to The Guardian. There is no shame in losing to Marseille who are flying in the league after six straight wins even if the defeat did lay bare the fallibility of Paulo Sousa's 3-4-2-1 formation. The former Arsenal stalwart left London to escape the disappointment that comes when you play well against a team that is also challenging for a Champions League place, but let a lead slip thanks to some sloppy defending and poor marking at set pieces. Pablo, Koscielny and Vukasin Jovanovic are technically intelligent centre-backs, but they are not especially gifted with pace or the ability to pick a pass under pressure. Playing in a back three is meant to protect Koscielny from having his withering pace exposed and the system has worked fairly well so far this season. And the Bordeaux goalkeeper, Beno t Costil, is not particularly proficient with his feet. (news.financializer.com). As reported in the news.

malcolm turnbull: On Thursday Morrison announced a major shake-up of the public service, a week before the government was expected to release its response to the review led by David Thodey, commissioned by Morrison's predecessor, Malcolm Turnbull, according to The Guardian. The restructure abolishes four departments and results in five departmental secretaries being sacked Kerri Hartland, Ren e Leon, Mike Mrdak, Daryl Quinlivan and Heather Smith. Instead submissions by federal departments called for a relaxation of staffing caps and rules that demand offsets before they undertake new spending, with these policies blamed for spiralling consultant costs and a lack of investment in systems such as IT. The departments also highlighted the importance of the public service's role in delivering advice to government, in marked contrast to Morrison'sview that its primary role was service delivery. Lumping the arts portfolio in with infrastructure is retrograde and unimaginative Esther Anatolitis Read more Mrdak, the head of the communications and arts department, told staff he was first informed of the changes on Wednesday. One department secretary has confirmed to Guardian Australia that portfolio restructures were not raised in the Thodey review in multiple rounds of consultation. A spokeswoman for the department of human services said its secretary, Renee Leon, also found out on Wednesday. (news.financializer.com). As reported in the news.

sound money: As with the man who succeeded him, Alan Greenspan, Volcker could soothe or excite financial markets with just a vague murmur. ; In 2018, he published a memoir, Keeping at It The Quest for Sound Money and Good Government, and expressed concern about the direction of the federal government and the loss of respect for it, according to The Japan Times. The central issue is we're developing into a plutocracy, he told The New York Times in October 2018. Volcker, who Zima said had been suffering from prostate cancer, was the first to bring celebrity status to the job of U.S. central banker, serving as chairman of the Federal Reserve from 1979 to 1987. We've got an enormous number of enormously rich people that have convinced themselves that they're rich because they're smart and constructive. In 2009, Volcker began serving as a key financial adviser to President Barack Obama and faced a maelstrom of financial turmoil, government bailouts and fallout from the deepest recession since the 1930s Great Depression. And they don't like government and they don't like to pay taxes. (news.financializer.com). As reported in the news.

trade fixation: The result is a limited, seemingly interim deal, that leaves both sides wanting more, according to The Japan Times. One of the few constants in Trump's worldview is that the U.S. has been exploited by its trade partners, and he has long seen Japan as a grievous offender. An agreement was inevitable given Trump's trade fixation, his insistence that only he can negotiate a deal that would benefit the United States, and Abe's need to maintain good relations with Washington. It was taken as given that he would act on that frustration when he became president and soon after taking office he began talking about a trade agreement with Tokyo. ; The two leaders agreed to begin trade talks a little over a year ago, and negotiators moved rapidly forward, reaching agreement in October. The U.S. needs no legislative approval, and the agreement will go into effect on Jan. 1. The Diet quickly approved the deal. (news.financializer.com). As reported in the news.

trade war: The US wants to attack China's one country two systems principle by expanding its long arm jurisdiction over the Hong Kong Special Administrative Region, and is ready to forgo its economic interests for political goals, according to Global Times China. In fact, on the issue of the US-launched trade war against China, the US business community has never been entirely on the same boat with the White House. It is for political reasons that the White House has signed the vaunted bill into a law. The latter paints a ludicrous picture of US long-term interests - if China is pressured to take on the so-called true structural reforms and make concessions in terms of relevant rules of political system and market regulations, the trade war might increase Americans' cost of consumption in the short term, but will serve US interests in the long run. US business leaders have already begun to buy this type of criminal logic. This is a shameful way of trying to seek economic advantage by political means, and is like political extortion undertaken by liars and speculators. (news.financializer.com). As reported in the news.

world powers: It would come amid heightened tensions between Iran and the United States over a 2015 nuclear deal, with Japan seeking to play a mediating role. ; A visit by Rouhani is under discussion, Abe said when asked about it at a news conference Monday marking the end of the extraordinary Diet session, according to The Japan Times. It would be the first visit to Japan by an Iranian president since Mohammad Khatami in October 2000. Abe did not say when Rouhani would make the trip, though diplomatic sources said earlier that sometime around Dec. 20 is likely. Abe would likely use the opportunity to urge Iran to stick with the landmark 2015 deal, under which it agreed with world powers to scale down its nuclear program in return for relief from crippling economic sanctions. Iran has since gradually abandoned its commitments to limit uranium stockpiles and enrichment levels. The United States withdrew from the deal in May 2018, with U.S. President Donald Trump calling it horrible and one-sided. (news.financializer.com). As reported in the news.

unionist party: Opinion polls suggest a victory for Prime Minister Boris Johnson, the Conservative candidate, come Dec. 13, but British politics remains unpredictable, and a number of outcomes are possible, according to Market Watch. The pound has climbed to 1.31 in recent days, from below 1.29 last week, as investors have grown more confident of a Johnson win. Political uncertainty over the past 3 years has caused unprecedented volatility in the pound GBPUSD, -0.0684% as well as domestic stocks. But the result could still have a major impact on world markets and currencies. Britain's last election in 2017 ended with Theresa May's small majority disappearing altogether and the Conservatives relying on a key group of Northern Ireland politicians the Democratic Unionist Party for a governing majority. What happens next and the implications are explained here How did we get to another election in less than three years To predict the future it's important to understand the past. (news.financializer.com). As reported in the news.

plant allies: I was part of the process that screwed up our relationship with cannabis, according to MSNBC. And these are my lessons I carry to a new movement called Decriminalize Nature, born in Oakland and now spreading across the country in over 100 cities and 30 states. By Carlos Plazola, Decriminalize Nature We're getting decriminalization and legalization of our sacred plant allies all wrong. In 2010, I sat at a meeting in Richmond, California lobbying the City Council to allow dispensaries to become permitted. It helped that the unregulated mortgage derivate industry had just sucked trillions of dollars out of the economy, causing de-industrialized towns like Richmond to hemorrhage from their dwindling budgets. My team presented a complex rubric of regulations they could place on the dispensaries to ensure the world would stay safe, and we seduced them with the staggering tax windfalls they'd receive once the dispensaries were fully operational. (news.financializer.com). As reported in the news.

nicholas release: For a young man whose bizarre stunt made international headlines, Nicholas Carr's release from the notorious Kerobokan prison was very subdued and he refused to comment, according to Nine News Australia. Fellow Australian Richard Woods was there to support the 26-year-old as he was ushered into an immigration vehicle headed straight for Denpasar airport. To improve your experience update it here News National'Don't do stupid things' Aussie fly-kicker released from Bali jail By Renae Henry Asia Correspondent8 40pm Dec 9, 2019Tweet Facebook Mail An Adelaide tradesman has walked free from a Bali jail, lucky to have served just a four-month sentence for fly kicking a scooter driver in a drunk and unprovoked rampage. An Adelaide tradesman has been released from a Bali jail, four months after being held for fly kicking a scooter driver. My son went through the same thing and I know how hard it is in there, Mr Woods, who lives in Bali, said. Nine Mr Woods had visited Carr in prison twice a week after his own son Matthew Woods was also recently jailed then released for a bag snatch he insists he didn't do. (news.financializer.com). As reported in the news.

shanghai: The benchmark closed flat, according to CNN. China's Shanghai Composite SHCOMP also seesawed and briefly slipped 0.2%. It then reversed losses and finished up 0.1%. Read More Jingyi Pan, a market strategist for IG Group, said traders are closely watching to see whether US and Chinese negotiators can strike a trade deal before December 15, when a new round of American tariffs are set to take effect on around 160 billion worth of Chinese goods. Japan's Nikkei 225 rose 0.3%. The market also got a boost after Japan revised its gross domestic product growth to an annualized 1.8% for the third quarter, compared with the initial estimate of 0.2%. South Korea's Kospi KOSPI also gained 0.3%. Hong Kong's Hang Seng opened slightly higher, but then bounced between small gains and losses. The latest Chinese trade data also suggests it's more urgent for Beijing to ink a deal with Washington in order to ease economic pressure, she added. That was mainly because shipments to the United States plunged 23%, as the long-running trade war continues to hurt Chinese exporters. China's exports dropped by a worse-than-expected 1.1% in November from a year prior, marking a fourth straight month of decline, according to government data released on Sunday. (news.financializer.com). As reported in the news.

share: December 9, 2019 Among the many possible explanations for the outcome of the 2016 election, one statistic is particularly eye-catching, according to MSNBC. It comes from a 2017 study of cable news bias, which reveals that for every ten minutes of weekly Fox News viewership in a particular region, Republican vote share increases 1.2 percent. His column appears on alternate Mondays. In an election that turned on three swing states Pennsylvania, Wisconsin and Michigan where Donald Trump won by a margin of less than one percent, this suggests that one way we could have avoided Trump's presidency would have been to reduce Fox News consumption in just three states by a mere ten minutes per week. Other studies have added to the news network's impressive accolades. I'm not a well-versed historian of propaganda, but I think it's obvious to recognize what Fox News has done as a breakthrough in the field. (news.financializer.com). As reported in the news.

ukraine: But it also refers to Trump's unwillingness to accept the fact that Putin interfered in the 2016 election, as well as his embrace of Russian propaganda that it was actually Ukraine that did so, according to MSNBC. It is important, however, to recognize that the president's base of support doesn't share that concern. That summary came at the moment the president abandoned our Kurdish allies in Syria. Since Trump was elected, the percentage of Republicans who view Russia as an ally has nearly doubled. Two weeks ago, Carlson said that he was rooting for Russia in their conflict with Ukraine. Recently, Tucker Carlson has been amplifying that point of view. (news.financializer.com). As reported in the news.

american: US Secretary of State Mike Pompeo warned Latin American nations against accepting Chinese investment, saying that when China calls, it's not always to the good of your citizens, according to Global Times China. What's your take on that statement and how do you evaluate the presence of China in Argentina and the region Guelar The presence of China is increasingly happening and without any doubt, this is a win-win situation for Latin American countries. While geographically apart, the two countries have seen closer ties despite pressure from the US. How does Argentina evaluate China's presence in the country and the Latin American region What are the new areas in which the two countries can enhance cooperation Global Times reporter Xie Wenting GT talked with Argentine Ambassador to China Diego Ramiro Guelar Guelar on these issues in an exclusive interview. China is not a threat. There is no hesitation in considering that the development of strong and healthy relations with China is beneficial to our people. Its presence has been evaluated in a very positive way in all the countries in the region including Argentina. (news.financializer.com). As reported in the news.

china: Are these words still relevant to today's bilateral ties Why do we have to improve China-US relations Global Times interviewed scholars on both sides, according to Global Times China. Su Ge, chair of the China National Committee for Pacific Economic Cooperation Deng's words pointed out the direction for China and the US to steer bilateral relations 30 years ago and have been proven true. Thirty years ago when former Chinese leader Deng Xiaoping met Brent Scowcroft, former US national security advisor and special envoy of then US president George H. W. Bush, Deng said China-US relations have to be improved. With the US having adopted a more competitive approach toward China, China-US relations have gone through twists and turns. History shows that cooperation is the best choice for both China and the US, Chinese President Xi Jinping told US President Donald Trump in a congratulatory message to mark the 40th anniversary of the establishment of diplomatic relations in January. However, the Chinese leadership has a long-term vision. (news.financializer.com). As reported in the news.

conflict priority: While Zelenskiy has made ending the conflict a priority, the political novice arrives at the table with the veteran Kremlin leader in what appears to be a less-advantageous position ; Zelenskiy still hasn't had the White House meeting with U.S. President Donald Trump that he sought to bolster his stature on the world stage, according to The Japan Times. French President Emmanuel Macron, the host of the meeting, has made clear recently that he wants to re-engage with Russia and get back to doing business again after five years of sanctions imposed on Russia over its actions in Ukraine. More than five years of fighting in eastern Ukraine between government troops and Moscow-backed separatists has killed more than 14,000 people, and a cease-fire has remained elusive. Macron and the other mediator in the talks, German Chancellor Angela Merkel, will be meeting Zelenskiy for the first time since it emerged that he criticized them in the July 25 phone call that has become the focus of an impeachment investigation against Trump. That could lead to a backlash from Ukrainians who strongly oppose any rapprochement with Russia. RELATED STORIESIs Russia using its frozen-conflict playbook in Ukraine So there are concerns among those who support Ukraine's sovereignty that Zelenskiy might end up giving too many concessions to Putin. (news.financializer.com). As reported in the news.

growth range: A conservative estimate for the whole year would be around 5.8 percent, according to Global Times China. It's important to have a medium-term perspective and managed expectations when developing macro policies. In the year that China aims to secure the victory of building a moderately prosperous society in all respects, how will the country deal with the negative factors and maintain growth Here is some advice from Chinese economists Liu Yuanchun, vice president of Renmin University of China A growth range of 5.5-6 percent would be an appropriate goal for China in 2020. Both policy makers and market players should have a forward-looking perspective. A new round of comprehensive reforms and opening-up should be carried out. The principles emphasized at the fourth plenary session of the 19th Communist Party of China Central Committee should be implemented. (news.financializer.com). As reported in the news.

impeachment investigation: He's going to make a report, I think to the attorney general and to Congress, Trump told reporters at the White House on Saturday as he departed for a fund-raising trip to Florida, according to The Japan Times. He says he has a lot of good information. Trump said Giuliani, a central figure in the impeachment investigation into whether Trump pressured Ukraine into a politically motivated investigation into former Vice President Joe Biden, hadn't briefed him on his findings. ; But, the president said, I hear he found plenty. I have not spoken to him about that information yet. Matt Gaetz, a Florida Republican who's one of Trump's biggest congressional cheerleaders, termed Giuliani's trip to Ukraine weird. On Sunday, Rep. (news.financializer.com). As reported in the news.

sketch: Why the change and what will it mean for passengers Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now It was the 20th century when Virgin Trains was first launched, according to The Independent. What were the railways like at the time In the mid-1990s, the railways were fully nationalised but appeared to be in long-term decline, caused by the growth of car ownership and lack of investment in train travel. After 22 years, Sir Richard Branson's Virgin Trains company has been replaced on the line by a new operator called Avanti. Created with Sketch. Created with Sketch. World's best train journeys Show all 10 Created with Sketch. (news.financializer.com). As reported in the news.

tokyo meeting: Local governments and private entities of the two countries concluded 26 memorandums of cooperation, according to The Japan Times. Expectations are high that Japan and China will tackle global issues, Economy, Trade and Industry Minister Hiroshi Kajiyama said. The Tokyo meeting brought together 800 officials from Japanese and Chinese government bodies, and companies including Panasonic Corp. as well as other organizations. ; Participants discussed technological and other problems that must be resolved to expand the use of electric vehicles, hydrogen utilization as an energy source and the promotion of recycling. Environment Minister Shinjiro Koizumi warned that 90 percent of all beaches around the world will be lost by 2100 if global warming problems are not tackled. Among the participating organizations, Marubeni Corp. and a Chinese chemical maker agreed to start experiments on hydrogen utilization. China will take tax and fiscal measures to boost the development of green industries, Chinese National Development and Reform Commission deputy head Zhang Yong said, stressing eagerness to advance his country's Belt and Road initiative. (news.financializer.com). As reported in the news.

ultra-marginal seats: Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now And there are more marginal seats than usual up for grabs this year because so many constituency results were very close in 2017, with 51 having a majority of less than 2 per cent and almost a quarter less than 10 per cent, according to The Independent. Created with Sketch. This means parties will target resources and efforts at winning or defending ultra-marginal seats decided by small majorities in 2017, starting with the Scottish National Party's North East Fife, where Stephen Gethins won the country's smallest majority of just two votes, and Perth & North Perthshire majority 21 Labour's Kensington 20 and Newcastle-under-Lyme 30 and Conservatives' Southampton Itchen 31 and Richmond Park 45 . But this election could be very different from those which came before, with the shadow of Brexit hanging over the poll and shaking up traditional party loyalties. Top 10 marginal seats to watch at the general election Show all 10 Created with Sketch. Created with Sketch. Created with Sketch. (news.financializer.com). As reported in the news.

westminster mortuary: The Kings College politics and economics student, who was an Omani national living in London, was pronounced dead at the scene shortly before 12.40am, the Met Police said, according to The Independent. Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now A post-mortem examination at Westminster Mortuary gave his cause of death as a stab wound. Mohammed Abdullah Al Araimi, 20, was stabbed near the luxury department store Harrods in Knightsbridge just after midnight on Friday 6 December. His 20-year-old friend was also injured in the attack and taken to hospital for treatment. Read more Crosslom Bis' Davis rapper among three stabbed to death in London Speaking to Mail Online, a friend of the victim said One of the thieves tried to steal Mohammad's expensive watch I think a Rolex but he fought back. He has since been discharged, police said. (news.financializer.com). As reported in the news.

bargaining biden: After Kamala activists fear Democratic primary whitewash Read more All six candidates at the forum emphasised the close link between stagnant wages, surging corporate profits and four decades of legislation weakening labour unions, such as so-called right to work laws curbing union activity and collective bargaining, according to The Guardian. Biden said productivity in the past 40 years was up 64%, and with it shareholder dividends, while wages have risen just 8%. You're the only ones who can keep the barbarians at the gate, he told Teamster union members. The former vice-president made a vigorous defence of the labour movement at a forum of Democratic presidential candidates in Iowa organised by the giant Teamsters union in partnership with the Guardian and the Storm Lake Times on Saturday. They only understand power. Countervailing power. Power. (news.financializer.com). As reported in the news.

campaign: The last two elections sprung last-minute surprises and when the Tories say they are taking nothing for granted they are telling the truth, according to The Guardian. The reason for that is simple the Conservatives may have had a clear message on Brexit that has resonated with leave voters but they also know that much of what Labour has been saying during the election campaign resonates with the voters. Sure, the polls look pretty conclusive but the margin between victory and defeat is slender. Boris Johnson has been battling against an ideological headwind. Who, after all, is not in favour of a four-day week, a third off their rail fare, free broadband and not having to pay for a dental checkup Older voters are richer than ever, yet still their needs rule Read more It is more a sense that something has changed at a deeper, more fundamental level since David Cameron won the 2015 election. This is not only a matter of the goodies Labour has been proffering. (news.financializer.com). As reported in the news.

dialogue: The opposition's foreign affairs spokeswoman Penny Wong is set to outline her party's position at the India-Australia leadership dialogue in Melbourne on Monday, according to Nine News Australia. Australia's relationship with India is central to the region we want and we have a strong stake in each other's prosperity and security, she will say. To improve your experience update it here News National Labor calls for more Australia-India ties By AAP12 05am Dec 9, has urged Australia to increase focus on relations with India, with China and the United States dominating diplomatic debate. Senator Wong says Australia shares democratic values, growing economic and business links, and converging strategic interests. But also by building a partnership based on strengthening each other, rather than a series of transactions viewed only through the prism of strategic competition. India and Australia can give form to these converging interests not only through inclusive regional institutions that promote economic integration and resilience, she will say. (news.financializer.com). As reported in the news.

nation conservatives: Thanks to the efforts of successive governments, the UK has cut carbon emissions by more than any similar developed country, according to The Guardian. We have also already doubled our support for developing nations to tackle climate change. Is the climate crisis the biggest issue the UK faces as a nation Conservatives Yes, it is one of the biggest issues facing the world. Greens Absolutely. Labour Yes and this election is our last chance to tackle it. The science is clear it is the biggest threat facing the UK and the world. (news.financializer.com). As reported in the news.