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

bombers: The fact is these crews, yes, they're tired, but they also want to be out there defending their communities And I thank them all for what they're doing, particularly all those who support them, according to The Guardian. Bushfires Coalition responds to calls for more water bombers with 11m aerial firefighting boost Read more He said the government was not considering professionalising the service, and he did not address concerns that crews were crowdsourcing donations for food, water and equipment. In response to questions from Guardian Australia on Tuesday, Morrison dismissed concerns that the New South Wales Rural Fire Service, the largest volunteer firefighting force in the world, was being stretched beyond endurance by the unprecedented scale of the bushfires. Morrison's words prompted fury among firies and their families who contacted Guardian Australia, many of whom asked to remain anonymous. Whether it's wanton, wilful or plain stupidity, it's a failure to recognise that things are not what they used to be. Volunteer firefighter Stuart said You've got an incurably giving, altruistic group of people donating hard strenuous labor, at high cost to themselves and we've got a PM that's quite happy to say we'll work them till they break. (news.financializer.com). As reported in the news.

market size: Compared with the world's developed economies, China's stock and bond markets are far from fully developed, according to Global Times China. It is difficult at present to fathom the growth potential of the investment sector once it sees an influx of capital from both home and abroad. Opportunities abound as the sector has now opened to foreign institutions. However, not every foreign financial institution can tap into China's financial market. The 17-month-long, relentless trade war Washington has forced on China has taught the US one thing China's market size must not be taken for granted or despised. Naturally, entities from countries which are friendly to China will be favored by the Chinese people. (news.financializer.com). As reported in the news.

pervaiz masih: Don't ask me about what happened to me there was her only reply to her family's questions, her cousin, Pervaiz Masih, said. ; Within just a few weeks, she was dead, according to The Japan Times. David's mysterious death adds to a growing body of evidence of mistreatment and abuses against Pakistani women and girls, mainly Christians, who have been trafficked to China as brides. When she returned to Pakistan, the once robust woman was nearly unrecognizable malnourished, too weak to walk, her speech confused and disjointed. AP investigations have found that traffickers have increasingly targeted Pakistan's impoverished Christian population over the past two years, paying desperate families to give their daughters and sisters, some of them teenagers, into marriage with Chinese men. Some women have told The Associated Press and activists that their husbands at times refused to feed them. Once in China, the women are often isolated, neglected, abused and sold into prostitution, frequently contacting home to plead to be brought back. (news.financializer.com). As reported in the news.

policy meeting: The euro was at 1.1137-1137, up from 1.1083-1084, and at 120.99-99, up from 120.50-51. ; The dollar fell below 108.50 in midmorning trading after U.S. Federal Reserve Chairman Jerome Powell hinted that U.S. interest rates may not rise anytime soon at a news conference following a Fed policy meeting ended Wednesday, according to The Japan Times. The greenback later cut its losses and returned to around 108.60, thanks to a rise in the 225-issue Nikkei stock average, traders said. At 5 p.m., the dollar stood at 108.63-63, down from 108.72-72 at the same time Wednesday. The dollar-yen pair may be swayed by the moves of the British pound following the British general election and by the results of a European Central Bank policy meeting, both slated for Thursday, a trust bank official said. Twitter Facebook Linked In GET THE BEST OF THE JAPAN TIMES IN FIVE EASY PIECES WITH TAKE 5 Mail the editor Error Policy JOIN THE CONVERSATION LATEST BUSINESS STORIESPhase one trade deal with China gets tepid reception in U.S. After U.S. officials announced a truce in the trade war with China with much fanfare, economists and trade experts call it largely a victory for Beijing. Market players are unlikely to sell dollars aggressively as the Conservative Party is expected to win the British election and optimism remains in the market over the U.S.-China trade negotiations, a Japanese bank official said. (news.financializer.com). As reported in the news.

quantum theory: But, Israel argued, when all is said and done, quantum computing could be an even more radical technology in terms of its impact on businesses than the smartphone has been, according to Market Watch. This is going to be a revolution, he said. The iPhone already debuted in 2007, enabling its real impact to be felt in the 2010s, he said, while the first business applications for quantum computing won't be seen till toward the end of the coming decade. Quantum computing is a nascent technology based on quantum theory in physics which explains the behavior of particles at the subatomic level, and states that until observed these particles can exist in different places at the same time. Quantum things can be in multiple places at the same time, said Chris Monroe, a University of Maryland physicist and founder of IonQ told the Associated Press . The rules are very simple, they're just confounding. While normal computers store information in ones and zeros, quantum computers are not limited by the binary nature of current data processing and so can provide exponentially more computing power. (news.financializer.com). As reported in the news.

simon johnson: She argues that these proposals will supercharge the economy, boosting growth and wages, according to The Independent. And she plans to pay for it all with a bevy of taxes on the wealthy, Wall Street and corporations. Elizabeth Warren wants to spend trillions of dollars on education, child care, green energy and health care. Most of her assertions are backed by an all-star panel of experts, including Mark Zandi of Moody's Analytics, Simon Johnson, former chief economist of the International Monetary Fund, and leading inequality and tax specialists Emmanuel Saez and Gabriel Zucman of University of California, Berkeley. The studies underscore the risk Warren took introducing so many -- and such detailed -- plans so early in the campaign. But a growing chorus of other authorities -- including former Treasury Secretary Lawrence Summers -- are voicing doubts about the impact of Warren's proposals, including how much her spending initiatives would cost, how much her tax plans would raise and what effect they would have on the economy. (news.financializer.com). As reported in the news.

bank: Outgoing chairman Lindsay Maxsted faced more than two hours of questioning at a marathon annual general meeting on Thursday, with shareholders demanding to know how Australia's second largest bank will atone for allegedly allowing money transfers that could be linked to child abuse in Asia, according to Nine News Australia. One shareholder called the board at best incompetent and negligent, and at worst complicit and culpable while others demanded further accountability beyond the departure of Mr Maxsted and chief executive Brian Hartzer. To improve your experience update it Westpac chairman admits bank was 'slow' to stop money laundering By 9News Staff7 45pm Dec 12, Westpac investors have roasted the board and called for directors to hand back their fees over the bank's child exploitation scandal. Westpac chairman Lindsay Maxsted has told today's AGM in Darling Harbour that the bank did not act quickly enough to prevent money transfers linked to potential child abuse. But before you do, you should hand back your fees. AAP Image/Mick Tsikas AAP You should go now, you should all go, one shareholder said to applause. (news.financializer.com). As reported in the news.

campaign: Former New York City Mayor Michael Bloomberg, too, came into her crosshairs, according to CNN. The common theme Their reliance on campaign cash from rich donors -- or, in Bloomberg's case, his own bank account -- makes them untrustworthy and unlikely to spend political capital on policies that benefit the working class at the expense of wealthy contributors. Speaking in New Hampshire, the Massachusetts senator ramped up what has been a stop-and-go process of directly criticizing her top moderate rivals, taking a series of unmistakable shots at South Bend, Indiana, Mayor Pete Buttigieg and former Vice President Joe Biden. Warren herself has sworn off big donors in the primary. Buttigieg, despite their ideological differences, appears to have cut into what had been shaping up as her base. The address came at a critical juncture in Warren's presidential campaign -- after a months-long hot streak, her political momentum appears to have stalled. (news.financializer.com). As reported in the news.

child care: She argues that these proposals will supercharge the economy, boosting growth and wages, according to CNN. And she plans to pay for it all with a bevy of taxes on the wealthy, Wall Street and corporations. Elizabeth Warren wants to spend trillions of dollars on education, child care, green energy and health care. (news.financializer.com). As reported in the news.

level: But she said a wide-ranging review of the ECB's strategy the first since 2003 could allow policymakers to expand the number of tools used to stimulate growth and push inflation back towards the target level of 2%. The review is expected to begin in January and be completed by the end of 2020, according to The Guardian. In the meantime, the ECB's current stimulus programme is expected to remain in place. Speaking after her first policy meeting as ECB president, Lagarde said the central bank would keep interest rates at historic lows and maintain the plan hatched by her predecessor Mario Draghi to re-start quantitive easing to cut the cost of borrowing and boost growth. Lagarde said there was no need to panic even though the risks to the outlook for growth and inflation remained tilted to the downside because the risks were slightly lower following a more stable forecast for global trade and growth next year. Meanwhile, employment and wages continue to rise across the currency bloc, she said, and the services sector and construction industry were in rude health. The eurozone is expected to grow by 1.2% this year after the US/China trade war triggered a recession in the manufacturing sector that hit the currency bloc's largest economy, Germany, the hardest. (news.financializer.com). As reported in the news.

tv companies: We are experiencing a golden era in the UK's creative industries, said Jim Reeve, the chief executive of GPM. Competition is fuelling demand for more original content from film studios, TV companies and other platforms like the streamers, according to The Guardian. However, there is still a massive shortage of studio space to cater for this. London-based Great Point Media GPM which recently partnered with the Hunger Games-maker Lionsgate to build a 100m studio complex in Yonkers, New York, is close to a deal on a site to build at least one large-scale studio in the UK. Sky to create 2,000 jobs with new Elstree TV and film studio Read more GPM has raised 100m from the US institutional fund manager MC Credit Partners, adding to the 80m it has already raised, with the aim of pushing its media investment war chest to half a billion dollars in the next 18 months. We want to play a leading role in the development of more studio space and the production of more quality content, not only in the UK but also across Europe and North America. The UK is in a race to keep up with demand for studio capacity to cope with the increasing number of productions being filmed each year. Sign up to the daily Business Today email or follow Guardian Business on Twitter at Business Desk GPM is in the process of assessing seven potential sites to build film and TV studios in the UK, US and Europe. (news.financializer.com). As reported in the news.

beaver prototype: The propeller aircraft, a six-passenger de Havilland DHC-2 Beaver prototype, was powered by a magniX magni500 electric motor and piloted by Harbour Air Chief Executive Officer Greg McDougall. ; The test was far more than the laboratory exercises we've seen in the past, said Robert Mann, the New York-based head of aviation consultancy R.W. Mann & Co, according to The Japan Times. It's a real serious, practical test. The neon-green and indigo-blue seaplane took off from the Fraser River in Richmond, British Columbia, as a small crowd cheered from the dock on Tuesday morning. Harbour plans to spend the next two years getting its new plane approved for commercial flight. There are about 170 programs on electrically propelled aircraft in development worldwide, up 50 percent since April 2018, according to the consulting firm Roland Berger. The carrier, which flies to a dozen destinations on the West Coast, has 53 planes and 450 employees spread between British Columbia and Seattle. (news.financializer.com). As reported in the news.

brand marketplace: The significance of MGI's invention of new NFC, RFID and LED direct to packaging applications with digitally printed electronic innovations impressed the judges as a major advancement for the international converting industry and global brand marketplace, according to The Independent. Created in 1954, the Oscars de l'Emballage is one of the most sought-after industrial awards in the combined international printing industries. Related CONTENTPAC Packaging Consortium Releases Smart Packaging Sustainability Checklist University of Pardubice Picks nScrypt's 3Dn Tabletop FiT to Support Research Security Today Awards Identiv New Product of the Year 2019Universal Display Announces 2019 UDC Innovative Research, Pioneering Technology Award Recipients Flex Receives 6 Cisco 2019 Supplier Appreciation Awards ; 12.11.19During the annual Oscars de l'Emballage Oscars of Packaging ceremony on Nov. 25 in Paris at the Elys e Biarritz auditorium, the MGI Digital Technology Group was awarded the 2019 Oscar in the Printing and Digital Technologies category for its Enhance your Brand interactive smart packaging application model. Each year, a jury composed of professional experts in various packaging sectors gather together to recognize top business leaders and technology innovators for the most important new products and technical accomplishments with these prestigious prizes. The 2018 judging panel also highlighted the value of MGI's technical inkjet contributions to the worldwide packaging industry with a grand prize award. This is the second consecutive year that the MGI Group has been honored with an Oscar de l'Emballage Award. (news.financializer.com). As reported in the news.

chinese companies: But the increased wealth of its burgeoning middle classes has led to skyrocketing demand and an explosion in the value of the product, creating a powerful industry, according to The Independent. China consumes almost five million donkey skins a year each worth up to 3,000 on the Asian market, according to some sources. Eijao, obtained by soaking and stewing donkey skins, has been used for medicinal purposes in China for centuries. Donkeys are hard to breed, so China has turned to poor corners of the world to meet demand. And in the often impoverished rural parts of northeast Brazil, that has had devastating consequences for the animal's chances of survival and the region's way of life. A concerted campaign by Chinese companies, allied with political pressure, has seen hundreds of thousands of donkeys exported from Africa and South America. (news.financializer.com). As reported in the news.

chinese goods: What happened Spending for the month was 434 billion while the government brought in 225 billion, according to Market Watch. Spending rose 6%, as outlays increased on Medicare, agriculture, military and other programs. The numbers The federal government ran a budget deficit of 209 billion in November, the Treasury Department said Wednesday, an increase of just 2% from a year ago. Receipts climbed by 9%, including higher collection of individual and payroll taxes and corporate taxes. Investors are looking next to Dec. 15, when another round of U.S. tariffs on Chinese goods is due to begin. Customs duties increased by 14% for the month, as a trade conflict between the U.S. and China continues. (news.financializer.com). As reported in the news.

consumer prices: The consumer price index rose 0.3% last month following an even bigger increase in October, the government said Wednesday, according to Market Watch. Economists polled by Market Watch had forecast a 0.2% advance. The numbers U.S. households paid more for energy, health care and rent in November, pushing the rate of inflation up to the highest level in a year. The recent spike lifted the increase in the cost of living over the past 12 months to 2.1% from 1.8%. That's the highest level since November 2018. What happened Gasoline prices actually fell in November, but not as much as they normally do at this time of year. Caption outside of wrapper for normal article images Yet even though consumer prices have been bubbling up, inflation in the U.S. is still low by historical standards. (news.financializer.com). As reported in the news.

earths production: China, which refines most of the world's rare earths, has threatened to stop exporting the specialized minerals to the United States, using its monopoly as a cudgel in the ongoing trade spat between the world's two largest economies, according to The Japan Times. The U.S. rare earths industry needs big help to compete against the Chinese, said Jim McKenzie, chief executive officer of UCore Rare Metals Inc., which is developing a rare earths project in Alaska. The move would mark the first financial investment by the U.S. military into commercial-scale rare earths production since World War II's Manhattan Project built the first atomic bomb. ; It comes after President Donald Trump earlier this year ordered the military to update its supply chain for the niche materials, warning that reliance on other nations for the strategic minerals could hamper U.S. defenses. It's not just about the money, but also the optics of broad support from Washington. Responses are due by Dec. 16. RELATED STORIESAustralia sees chance to raise rare earth supply to U.S. as Washington cuts dependence on China The army division overseeing munitions last month asked miners for proposals on the cost of a pilot plant to produce so-called heavy rare earths, a less-common type of the specialized minerals that are highly sought after for use in weaponry, according to the document. (news.financializer.com). As reported in the news.

fuel investors: Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now Voters deserve to know who is propping up these election campaigns and, if elected, how they may get preferential treatment with the governing party who has taken their dirty money, according to The Independent. The investigation, by Greenpeace UK's investigative journalism unit Unearthed, and shared with The Independent, also highlights two large donations to the Liberal Democrats from fossil fuel investors. The campaign group raised fears that Boris Johnson's government would be beholden to firms helping to fund the coal, oil and gas industries and making the climate crisis worse . The motives behind these donations are unknown, but there has to be suspicion about whether donors' interests may shape the future government's response to the climate crisis we're in, said Doug Parr, Greenpeace UK's director of policy. Watch more Tories attacked for vile racism' after linking EU migration to terror The analysis comes amid criticism of the Conservatives for passing a legal commitment of net-zero carbon emissions by 2050, but without announcing the measures necessary to achieve it. But the Conservatives said all their donations were properly and transparently declared and argued they had boosted renewables to record levels . Greenpeace went through donations to the Tories during the first three weeks of the campaign, highlighting Jonathan Wood 500,000 whose hedge fund SRM Global is a major investor in Rockhopper Exploration, a British oil and gas firm with offshore licences near the Falkland Islands. perform eplayer Inside Politics newsletter The latest news on Brexit, politics and beyond direct to your inbox Enter your email address Continue Continue Please enter an email address Email address is invalid Fill out this field Email address is invalid Email already exists. The climate crisis has barely been mentioned by the prime minister during the campaign and he boycotted the Channel 4 debate on the issue when he was replaced by a melting ice sculpture. (news.financializer.com). As reported in the news.

business: But what happens in 2020 is anybody's guess, according to Danielle DiMartino Booth, CEO and chief strategist at Quill Intelligence, according to CNN. DiMartino Booth will be talking about the Fed with CNN Business correspondent Alison Kosik on the Markets Now show Wednesday afternoon at 12 45 ET. Paul Volcker, former Fed chairman who fought inflation, dies at 92 Despite concerns that the trade war with China would hurt the broader economy and Corporate America, stocks remain near all-time highs and consumers keep spending. With traders pricing in a nearly 98% chance that rates will remain steady, that's about as close to a slam dunk decision as you can get. That gives the Fed good reason to do nothing after three rate cuts earlier this year. Read More In fact, the lack of any significant inflation pressure means that the Fed could once again cut rates in 2020 if the economy starts to lose some steam. The Fed will stand pat on Wednesday and cannot sound too hawkish, DiMartino Booth told CNN Business, meaning that it is unlikely to hint at any future rate hikes. (news.financializer.com). As reported in the news.

climate crisis: The world's biggest contributor to the climate crisis had been valued at more than Apple and Facebook previously the world's most valuable and fifth-most valuable companies respectively combined, according to The Guardian. It is also twice the size of Amazon and Alphabet, Google's parent company, and bigger than the next five listed oil companies put together. Shares in the Saudi state-backed oil company defied Aramco's critics by climbing nearly 200bn above the 1.7tn valuation set before its market debut on Riyadh's stock exchange. The record market listing is expected to keep rising on its second day of trade on the Tadawul stock exchange on Thursday after Aramco's share price surge was capped at 10% under rules designed to safeguard market stability. The Saudi state has raised 25.6bn through the float, which is regarded as the biggest single injection of capital into the fossil fuel industry, despite growing concerns over the climate crisis and the need to create a sustainable global financial system. More than 5 million investors have put aside concerns over the company's close ties to a state associated with human rights abuses, and an uncertain future for the global oil industry, to buy 3bn shares. (news.financializer.com). As reported in the news.

communications industry: Facebook Twitter Email Print POLITICO Playbook All they do is enable him' Pelosi rips the press By ANNA PALMER, JAKE SHERMAN, ELI OKUN and GARRETT ROSS 12/11/2019 12 57 PM ESTUpdated 12/11/2019 01 26 PM by I do think that he was assisted by the communications industry, not just Hollywood, but the press as well, because all they do is enable him, and that is really a sad thing, Speaker Nancy Pelosi said, according to MSNBC. Alex Wong/Getty ImagesNEW IMPEACHMENT POLLS 53% of respondents in the latest Monmouth poll have some level of trust in the House proceedings. 44% have no trust at all. 45% believe President DONALD TRUMP should be impeached and compelled to leave the presidency. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The poll-- POLITICO/ Poll As impeachment progresses, voter support remains static, by Steve Shepard As the House inches closer to just the third-ever impeachment of a sitting president, a new POLITICO/Morning Consult poll shows public opinion of the inquiry is right where it started. That's greater than the 42 percent who oppose it. Half of registered voters, 50 percent, approve of the current impeachment inquiry, the poll shows. (news.financializer.com). As reported in the news.

estpresented: Facebook Twitter Email Print Andy King's lawsuit tossed Council mandates bird-friendly buildings Exxon wins climate change case By ERIN DURKIN, ANNA GRONEWOLD and MICHELLE BOCANEGRA 12/11/2019 07 24 AM ESTPresented by Citizens for the Preservation of Wainscott New York City Council Member Andy King has been howling about injustice since the Council disciplined him for his abuses of power, but a state judge says he's got nothing to complain about, dismissing his lawsuit against the city Tuesday, according to MSNBC. King was suspended for 30 days a suspension he did not take particularly seriously and fined 15,000 a fine he has not paid after investigators found he had abused his staff, misused city resources, and retaliated against people who cooperated in a probe of his behavior. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. State Supreme Court Justice Arthur Engoron flatly disagreed with the Bronx pol, who argued his due process rights were violated, as he tossed the suit, our Joe Anuta reports. And now, it's the Council that may be suing King. I don't think the Council did anything wrong, Engoron said. (news.financializer.com). As reported in the news.

helmets: The items were made between 400BC and 200BC, and Levett worked with Spain's ambassador to Unesco to return the helmets, signing an act of voluntary surrender after reading about the looting of the objects in the Spanish media, according to The Guardian. Levett, a retired investment manager and founder of commodity hedge fund Clive Capital, originally paid 250,000 for the helmets buying seven at auction in Munich in 2008 and one from a London dealer in 2009. The helmets were originally legally bought by the British collector Christian Levett, who when he discovered they had been taken illegally from an archaeological site in Aranda de Moncayo, northern Spain during the 1980s arranged to return them. The items were on display at the Mougins Museum of Classical Art MACM an institution Levett opened in the south of France in 2011. Picasso, Lorca, Capa art reveals fate of exiles who fled Franco's Spain Read more The return is the most significant since 2012, when the US ordered the repatriation to Spain of a 15-tonne haul of coins worth 500m that was taken from the Nuestra Se ora de las Mercedes wreck. In my personal opinion, when it's clear beyond doubt, as in this case, that an object has been illegally looted and illegally exported from a particular source country, then I personally cannot see why anyone would want to retain that piece in their collection, Levett told Artnet News. (news.financializer.com). As reported in the news.

gold: Gundlach believes in the predictive value of the ratio since copper HG00, 0.29% is sensitive to swings in the economy, while gold GC00, 0.29% climbs when investors get frightened, according to Market Watch. As the chart shows, copper is starting to climb relative to gold, which should imply that bond yields TMUBMUSD10Y, -0.22% will rise, meaning bonds will fall in value. Gundlach tracks the ratio of copper prices to gold. On Wednesday, the yield on the 10-year was little moved at 1.83%. This year it's dropped by 85 basis points. Ahead of the Federal Reserve meeting later Wednesday, Gundlach criticized Fed Chair Jerome Powell, saying most of what he has done this year has been bad and driven by bond market expectations more than need. Gundlach said during a webcast Tuesday night he sees long-term rates marching higher as recession risks recede, according to a CNBC report. (news.financializer.com). As reported in the news.

hong: Considering the capital inflows and outflows, the performance of the stock market, the free exchange of the Hong Kong dollar and its Linked Exchange Rate System LERS Hong Kong's banking industry is still seeing stable growth, Chan said, local media hkej reported, according to Global Times China. The Hang Seng Index closed up 0.79 percent at 26,645.43 points on Wednesday. Photo VCG The months-long social unrest in the Hong Kong Special Administrative Region HKSAR has affected local economic development while the liquidity in the banking system remains robust, HKSAR Financial Secretary Paul Chan Mo-po said at a forum on Wednesday. The impact on Hong Kong's financial sector exerted by the social unrest, which has lasted nearly half a year, will take some time to emerge instead of becoming obvious immediately, Dong Shaopeng, an adviser for the China Securities Regulatory Commission, told the Global Times on Wednesday. An IMF Staff Mission on December 4 commended the resilience of Hong Kong's financial system and the LERS despite a slowing economy, noting that a history of prudent macroeconomic policies has left Hong Kong with significant buffers to navigate through cyclical and structural challenges. Dong said that the HKSAR government is able to deal with general fluctuations so far to keep local financial sector stable. (news.financializer.com). As reported in the news.

year: First, external challenges will be more demanding, according to Global Times China. The global economic downturn and great-power competition have entered new phases, bringing about unprecedented uncertainty to global economic policies. Economic growth has remained in a rational and controllable range this year. 2020 will be a crucial year for China to secure a decisive victory in building a moderately prosperous society in all respects, but the country will face greater challenges, particularly in the following six aspects. This will not only directly impact China through trade, but it will also negatively influence the open economy by undermining market confidence. Second, domestic demand is expected to remain weak and may accelerate the economic slowdown. In 2020, external demand is expected to continue weakening, the global manufacturing industry is set to slump, China-US strategic competition will enter a new stage, and the 2020 US election will bring further uncertainty to the prolonged trade war between the two countries. (news.financializer.com). As reported in the news.

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financializer news

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