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

premium app: Mr Carney who will become the UN's special envoy for climate action and finance in February 2020 made the comments to the BBC's Today programme for a segment guest-edited by Greta Thunberg and to be broadcast on Monday, according to The Independent. THIS IS TEMP CODE TO RESOLVE TEADS ISSUES ON SAFARAI - ISSUE-387 - START THIS WAS ORIGINALLY IN THE FOOTER EJS FILE THIS IS TEMP CODE TO RESOLVE TEADS ISSUES ON SAFARAI - ISSUE-387 - END Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now Asked whether pension funds should divest from fossil fuels even if the returns currently appear attractive, he said Well that hasn't been the case, but they could make that argument. Mark Carney suggested the financial sector had not yet woken up to the looming crisis and was not moving fast enough to divest from fossil fuels. They need to make the argument to be clear about why is that going to be the case if a substantial proportion of those assets are going to be worthless. Fighting climate change with trees The facts Show all 6 Created with Sketch. Created with Sketch. ( As reported in the news.

points: But from Friday, the Nikkei plunged 181.10 points, or 0.76 percent, and the Topix sank 11.82 point, or 0.68 percent, according to The Japan Times. Stocks went south from the opening bell, weighed down by the yen's strengthening against the dollar. The benchmark index ended at 23,656.62, up 3,641.85 points, or 18.20 percent, from the 2018 closing. ; The Topix, which covers all first-section issues on the Tokyo Stock Exchange, jumped 227.27 points, or 15.21 percent, to wrap up 2019 trading at 1,721.36. Issues in the semiconductor and machinery sectors, in particular, met with heavy selling following a drop in the U.S. SOX Philadelphia semiconductor index on Friday. Trading was thin throughout the day as there were not many participants, said Tomoaki Fujii, head of the investment research division at Akatsuki Securities Inc. The market also faced growing profit-taking and position-squaring pressures before the start of the six-day holiday, brokers said. ( As reported in the news.

sec filing: State Street Global Advisors launched the first-ever exchange-traded fund, in 1993, according to Market Watch. And with a little-noted move this December, they may be pioneering yet another phase in the evolution of how investors allocate their money. But it should keep the fedora. The fund officially known as the S&P 500 ETF Trust SPY, 0.24% and colloquially referred to by its ticker, SPY, was the first and remains the king, says Todd Rosenbluth, head of ETF and mutual fund research at CFRA. SPY has 300 billion in assets and is known as one of the most liquid funds in the world, not least because it tracks one of investors' preferred benchmarks, the S&P 500 stock index. In a Dec. 18 SEC filing, the company said it would switch the index tracked by one of its smaller funds, the SPDR Portfolio Large-Cap ETF SPLG, 0.24% to the S&P 500 as well. SPX, 0.29% That makes State Street's recent move somewhat unusual. ( As reported in the news.

succession plan: It sounds like a classic case of the cobbler's children having no shoes, according to Market Watch. When advisers retire in place, they will often stop working full time, go into the office less, and only communicate with clients when it's convenient for them. Ironically, it seems that many financial advisers have not taken their own advice, and instead of developing a transition plan to get themselves on the path to retirement, they retire in place. This approach can negatively impact the level of advice they provide to clients, because they have one foot in retirement and one foot in the office. An industry in crisis According to a 2018 study by the Financial Planning Association and Janus Henderson Investors, 73% of financial advisers lack a formal succession plan. However, there are effective ways to retire in place, such as joining a firm that implements joint ventures or staged retirement plans for advisers. ( As reported in the news.

trend factors: Among the major trend factors, the institutional factor has bottomed out, according to Global Times China. Its reform measures have promoted the improvement of the Total Factor Productivity TFP although it's still not strong enough to reverse the overall economic slowdown trend. Despite some of the causes that still exist in 2020, the economic outlook is not necessarily pessimistic as some cyclical factors will reverse and good results of reform will continue to show up. From 2017 to 2018, TFP growth has picked up and made a bigger contribution to overall economic growth. Goods and services trade's contribution to China's GDP growth had shrunk from the peak of 8.6 percent in 2007 to 0.8 percent in 2018. The China-US trade war has caused severe impacts on economic globalization, but even before the trade war, the globalization has encountered difficulties. ( As reported in the news.

march: FOREIGN INVESTMENT LAW TO BOOST HIGH-LEVEL OPENING UP The second session of the 13th National People's Congress on March 15 passed the foreign investment law, which will become effective on Jan. 1, 2020, according to Xinhua China. Adoption of the law is an important measure to implement the decision and arrangement of the Communist Party of China CPC Central Committee to expand opening up and promote foreign investment. China's national legislature passed the foreign investment law at the meeting. 1. Xinhua The Xinhua chronicle of the top 10 China news events in the year of 2019 is as follows 1. Adoption of the law is an important measure to implement the decision and arrangement of the Communist Party of China CPC Central Committee to expand opening up and promote foreign investment.2. Foreign Investment Law To Boost High-Level Opening UpThe second session of the 13th National People's Congress on March 15 passed the foreign investment law, which will become effective on Jan. 1, 2020. ( As reported in the news.

militia fighters: The US military carried out air strikes on Sunday against the Iranian-backed Kataib Hezbollah militia group in response to the killing of a US civilian contractor in a rocket attack on an Iraqi military base, officials said, according to Nine News Australia. Iraqi security and militia sources said at least 25 militia fighters were killed and at least 55 wounded following three US air strikes in Iraq. To improve your experience update it hereLIVE UPDATESLatest on Australia's bushfire crisis News World Iraqi militia vows response to US strikes By AAP8 41pm Dec 30, 2019Tweet Facebook MailA top Iraqi militia leader warned of a strong response against US forces in Iraq following air strikes in Iraq and Syria that hit several bases of his Iranian-backed group and killed at least 25 people. The blood of the martyrs will not be in vain and our response will be very tough on the American forces in Iraq, senior commander Jamal Jaafar Ibrahimi, known by his nom de guerre Abu Mahdi al-Mohandes, said late on Sunday. He is also one of Iran's most powerful allies in Iraq and formerly headed Kataib Hezbollah, which he founded. Iran said it strongly condemned the raids as terrorism . Mohandes is a senior commander of Iraq's Popular Mobilisation Forces PMF an umbrella grouping of paramilitary groups mostly consisting of Iran-backed Shi'ite militias that was formally integrated into Iraq's armed forces. ( As reported in the news.

search log: Open Search Log In Join Huff Post Plus Join Huff Post Plus Why Pete Buttigieg's Defense Of Wealthy Donors Is So FuzzyNEWS POLITICS ENTERTAINMENT COMMUNITY LIFE PERSONAL VIDEO SHOPPING HIGHLINEU.S. Canada U.K. Australia Brazil Espa a France Greece India Italia Japan Korea Maghreb QuebecU.S. Edition function var disable AdRotation 1 ; var ads Div var default Delivery f ; // enable Queue 0 wait ForGlobal function return window.html AdWH && SetSync Called; function // override ads Pl in template if 'function' typeof SetPlId if 'undefined' typeof window.orig AdsPlId window.orig AdsPlId Pl; if 'undefined' ! typeof window.orig AdsPlId // override ads Net Id in template if 'function' typeof SetNet Id if 'undefined' typeof window.orig NetId window.orig NetId Nt; if 'undefined' ! typeof window.orig NetId ads Div.reload Count 0; var recovery Id ''; var needs Recovery recovery Id && recovery Id.length && kraken ad Block && kraken ad; var ad Id needs Recovery recovery Id '93318099'; // try ad Id ad Id; catch e // Override adtech call type var delivery type default ; var adtech call type ; switch delivery type case by request adtech call type ajax ; break; case text adtech call type text ; break; case iframe adtech call type iframe ; break; case iframe proxy adtech call type f ; break; case collapsed adtech call type fc ; break; default adtech call type default Delivery; break; var args 'lb', 'lb' ; if needs Recovery function ads Div //html AdWH ad Id, args 0 args 1 fileless ads Div ; ; else html AdWH ad Id, args 0 args 1 adtech call type, ads Div ; if !disable AdRotation ads Rotate Mult ads Div ; if typeof debugadcode 'function' debugadcode 'AdTech', placement 'leaderboard flex', mnid ad Id ads Div ; wait ForGlobal 'jQuery', function function ev, elem if elem && !elem.contains ads Div return; var refresh Rate 1; ads Div.reload Count ; if ads Div.reload Count % refresh Rate 0 && typeof ads Reload Ad 'function' ads Reload Ad ads Div ; ; ; ad SetInView '0' ; ; // wFG html AdWH //modulous queue closing ; if typeof HPAds ! 'undefined' POLITICS 12/30/2019 04 00 pm ET Updated 14 hours ago Why Pete Buttigieg's Defense Of Wealthy Donors Is So Fuzzy He has said big money isn't corrupting, according to MSNBC. Yet he's pledged to refuse donations from fossil fuel executives and corporate PACs. All rights reserved.BREAKING NEWSTap here to turn on desktop notifications to get the news sent straight to you. By Tara Golshan Craig Hall, the owner of the now-infamous wine cave in California's Napa Valley that hosted a swanky fundraiser for Pete Buttigieg, is the type of billionaire that the Democratic presidential candidate is OK taking money from at least according to rules Buttigieg set for his campaign. Since the 1980s, he's donated more than 2.4 million to Democratic causes. In addition to owning a winery and being a real estate magnate, Hall oversees a financial services company and is in the art business. ( As reported in the news.

times wework: The Times Investment banks have been found to be treating their clients more favourably than other companies in equity research coverage, an investigation by The Times has found, according to The Guardian. Financial Times WeWork will have to pay close to 17 million to replace its co-chief executives under exit packages negotiated in the run-up to the company's rescue by Soft Bank. The Daily Telegraph Tough new emissions controls could see car manufacturers hit with mega-fines next year amid disappointing sales of electric vehicles. Financial Times Italian football club AS Roma is close to a deal to be acquired by a consortium led by US billionaire Daniel Friedkin. The Guardian Sales of champagne fell by 28% in the UK over the past year, while consumers also kept other forms of sparkling wine on ice. Business and economics The Daily Telegraph The value of takeovers involving UK companies fell 50% on last year to 189 billion, according to Dealogic, despite various blockbuster deals taking place this year. ( As reported in the news.

weather events: Carney has been one of the most vocal central bank governors on the need for the financial sector to do more to transition towards a zero-carbon economy, according to The Guardian. He told the programme that the climate crisis was a tragedy on the horizon and that more extreme weather events were inevitable. Carney, who will focus on his new role as UN special envoy for climate change and finance after he steps down from the governorship in the new year, agreed to appear on the programme for an edition edited by the climate crisis campaigner Greta Thunberg, one of several guest editors on Today over the holiday period. By the time that the extreme events become so prevalent and so obvious, it will be too late to do anything about it, he said. They need to make the argument, to be clear about why is that going to be the case if a substantial proportion of those assets are going to be worthless. Political leaders had to start addressing future problems today . On the issue of whether investors should be divesting from companies in the fossil fuel sector, Carney said fund managers would have to make the judgment and justify to the people whose money it ultimately is . When pressed on whether pension funds should divest from oil and gas companies even if the returns were attractive, he replied Well that hasn't been the case but they could make that argument. ( As reported in the news.

life: He is wealthier than me and before we got married he required me to sign a prenuptial agreement, according to Market Watch. I was fine with this as I thought it would make him and his adult children more comfortable. My husband's children hate me and refused to come to our wedding, yet he is leaving them all of his property. He is now 70 and I am 62. I told him that I needed a place to live after he passes away. He has a trust for his family that was already set up before I came into his life. ( As reported in the news.

afternoon thunderstorm: A new pair for all of us, according to The Independent. Then came the new clothes proudly presented by my parents the fruit of long hours of labour. Every Christmas of my childhood that I can remember, the shiny black school shoes were neatly lined up by the door. And then, in our new finery, off we went to church. As the years went by and independence came to Zimbabwe, many things changed. The long sunny hours of Christmas Day, usually with a brief but refreshing afternoon thunderstorm, were spent at huge family gatherings, feasting on chicken and rice, washed down with an array of brightly-coloured soft drinks cherry plum, cream soda and Fanta orange. ( As reported in the news.

bank governor: Among financial experts recently promoted is Beijing Vice Mayor Yin Yong, a former deputy central bank governor, and Shandong provincial Vice Gov, according to The Japan Times. Liu Qiang, who rose through the country's biggest commercial banks, from the Agricultural Bank of China to the Bank of China. Since 2018, President Xi Jinping has put 12 former executives at state-run financial institutions or regulators in top posts across China's 31 provinces, regions and municipalities, including some who have grappled with banking and debt difficulties that have raised fears of financial meltdown. ; Only two top provincial officials had such financial background before the last big leadership reshuffle in 2012, according to Reuters research. Another newly promoted official, Chongqing Vice Mayor Li Bo, had until this year led the central bank's monetary policy department. Bankers are now in demand, as local governments are increasingly exposed to financial risks, said Chucheng Feng, a partner at Plenum, an independent research platform in Hong Kong. RELATED STORIESWho's who among China's rising financial czars The appointments overseeing economies larger than those of small countries would appear to put those officials in the fast lane as China prepares a personnel reshuffle in 2022, when about half of the 25 members of the Politburo could be replaced, including Liu He, a vice premier who is leading economic reform while doubling as chief negotiator in U.S. trade talks. ( As reported in the news.

car wrecks: She then sold a 51 percent stake for 600 million. ; It has been two months since the Washington Nationals captured their first World Series championship, but people around the world are still singing along to the baseball team's adopted rallying cry, Baby Shark, doo-doo doo-doo doo-doo, according to The Japan Times. The South Korean family that helped popularize the earworm is now worth about 125 million. Kylie Jenner became the youngest self-made billionaire this year after her company, Kylie Cosmetics, signed an exclusive partnership with Ulta Beauty Inc. Even car wrecks proved to be a treasure trove. The emergence of atypical fortunes underscores just how much money the uber-rich accumulated in 2019. Willis Johnson, the gold-chain-wearing Oklahoma native who founded Copart Inc., has amassed a 1.9 billion fortune by building a network of junkyards to sell damaged autos. ( As reported in the news.

carbon credits: But global greenhouse gas emissions have continued to increase, atmospheric concentrations of carbon dioxide are at their highest levels in 800,000 years, and current policies will likely result in warming of about 3 degrees by 2100. ; Moreover, the recent COP25 negotiations in Madrid ended in failure, with governments squabbling over the value and allocation of carbon credits held over from a discredited previous policy regime, according to The Japan Times. At the same time, however, stunning technological progress during the 2010s makes it possible to cut emissions at a cost far lower than we dared hope a decade ago. In 2015, at the COP21 climate conference in Paris, 196 countries agreed to limit global warming to well below 2 degrees Celcius above preindustrial levels. The costs of solar and wind power have fallen more than 80 percent and 70 percent, respectively, while lithium-ion battery costs are down from 1,000 per kilowatt-hour in 2010 to 160 per kWh today. In addition, it is now clear that even the harder-to-abate sectors of the economy, such as heavy industry including steel, cement and chemicals and long-distance transport shipping, aviation and trucking can be decarbonized at costs which, although significant for any one company acting alone, are trivial in terms of the impact on people's living standards. These and other breakthroughs guarantee that energy systems which are as much as 85 percent dependent on variable renewables could produce zero-carbon electricity at costs that are fully competitive with those of fossil fuel-based systems. ( As reported in the news.

core vendor: It's something that badly needs to be regulated, according to Market Watch. Marc Benioff In an interview with CNN's Reliable Sources on Sunday, Benioff ripped Facebook and again called for the social-network giant which has been wracked by scandals in recent years to be regulated or split up. Facebook is the new cigarettes for our society. They're certainly not exactly about truth in advertising, he told CNN's Brian Stelter. That's why we're really in squarely a crisis of trust, when the core vendor themselves cannot say that trust is our most important value. Even they have said that. ( As reported in the news.

dialogue: This is arguably the most authoritative and systematic explanation from a senior Indian official about the Indo-Pacific after Prime Minister Narendra Modi's speech at the 2018 Shangri-La Dialogue in June where he crafted his country's stance on the subject, according to Global Times China. The Indo-Pacific as an international political concept emerged more than a decade ago, but only became a hot topic after the administration of US President Donald Trump raised the Indo-Pacific strategy in 2017. Photo Xinhua/Then Chih Wey In an address at the recent joint Indian Ocean Dialogue and Delhi Dialogue, Indian Foreign Minister S Jaishankar pointed out that India's view of the Indo-Pacific includes the Western Indian Ocean as well as neighbors in the Gulf, the island countries of the Arabian Sea and partners in Africa, adding that the Indo-Pacific is an open, free and inclusive platform. This reflects the rising strategic status of India and the Indian Ocean. The international community has been optimistic about the prospects of India and even predicted that it may beat Japan to become the world's third largest economy around 2030. Since the late 1990s, the Indian economy has clocked a fast growth and India has become an important emerging country. ( As reported in the news.

force workers: Under one, companies could be forced to reclassify hundreds of thousands of independent contractors as employees with broad labor law protections, according to The Independent. Under another, bosses could no longer force workers into closed-door arbitration proceedings, a tactic which protects businesses from costly lawsuits. Sweeping new laws curbing longtime employment practices take effect, aimed at reducing economic inequality and giving workers more power in their jobs. The new laws are about job quality what it means to work in a just workplace, said California Labor Secretary Julie Su. We want to support businesses who look at their role in a holistic and humane sense. California leads the way on labor standards and we're not going to let employers do end runs around those standards. ( As reported in the news.

american-made: A decade on, and the English-speaking world remains dominated by American-made music, films and television, according to CNN. But there's been a noticeable shift a steady rise in the influence of South Korean and Japanese pop culture exports. Around the world, people flocked to see futuristic sci-fi flick Avatar, and tuned in to watch fun-loving housemates get wild on reality television show Jersey Shore. In 2019, Japanese consultant Marie Kondo taught us how to declutter our lives in her Netflix hit Tidying Up with Marie Kondo. And Parasite became the first South Korean film to win a Palme d'Or -- and then the film's director Bong Joon-ho appeared on The Tonight Show Starring Jimmy Fallon speaking mainly in Korean. South Korean pop groups BTS and Blackpink showed us big-budget, action-packed music videos -- and smashed You Tube records in the process. ( As reported in the news.

film adaptation: I'm not patient by nature, according to CNN. But with nearly 40 years of effort, I'm learning to not let it get the better of me. March Marmee says, wearily, in Greta Gerwig's Little Women, a 2019 film adaptation of Louisa May Alcott's beloved 1868 novel of the same name about a quartet of New England sisters. ( As reported in the news.

framework mff: EU institutions are currently hammering out the details of the bloc's long-term budget, known as the multiannual financial framework MFF . The UK's withdrawal will leave a large hole to plug, according to The Guardian. Senior EU officials have described the negotiations over the commission's proposed 1,135bn 970bn in spending commitments as the most difficult ever undertaken. Jacques Vandenschrik, the president of the European Food Banks Federation, said the EU executive's proposed spending plans for the next seven years posed a risk not only to the most vulnerable but to the stability of wider society. The current budget ending in 2020 contained a 3.8bn fund for European aid to the most deprived FEAD to help EU member states provide people with food and basic supplies such as clothing, shoes, soap and shampoo. The commission has said it hopes member states will allocate twice that minimum amount but there would not be any obligation. Under the proposed 2021-27 budget there would be no such dedicated fund but member states would be asked to devote a minimum of 2bn in total to food and basic material assistance. ( As reported in the news.

i hope: As we wind down 2019, I wanted to share with you my annual list of favourites that made the last year a little brighter, Obama said in a post on Twitter, according to The Independent. THIS IS TEMP CODE TO RESOLVE TEADS ISSUES ON SAFARAI - ISSUE-387 - START THIS WAS ORIGINALLY IN THE FOOTER EJS FILE THIS IS TEMP CODE TO RESOLVE TEADS ISSUES ON SAFARAI - ISSUE-387 - END Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now We'll start with books today movies and music coming soon. The former US president's list ranges from books on history, economics, fiction and autobiographies. I hope you enjoy these as much as I did. They're the fabric that helps make up a life. Obama is known for being a voracious reader, and in a longer post on Instagram noted how his annual lists had become a fun little tradition . Because while each of us has plenty that keeps us busy - work and family life, social and volunteer commitments outlets like literature and art can enhance our day-to-day experiences, he wrote. ( As reported in the news.

home prices: A new report from Realtor identified the housing markets that are expected to see the most notable home sales and price growth in 2020, according to Market Watch. Boise ranked No. 1, a marked increase from No. 8 a year ago. Boise, Idaho, is poised to be the hottest housing market at the start of the next decade. Driving Boise's climb up the Realtor ranking is the massive influx of new residents from pricier parts of the country in particular, California. A recent report from the Federal Housing Finance Agency showed that home prices in the Idaho state capital have risen 11.1% over the last year. Many of these out-of-state buyers are drawn by the city's mild climate, outdoor lifestyle, strong schools and its major employers, including HP HPQ, -0.19% and Micron Technologies MU, -1.52%. Boise's already seen a boom in terms of housing. ( As reported in the news.

party npp: Modi was elected as the 14th Prime Minister of India after winning India's general election over the NCP of India in 2014, and was re-elected in 2019, according to Global Times China. After taking office, Modi showed some remarkable political characteristics. Modi's strategy mainly focuses on striving for practical interests on all fronts for India and expanding markets for Make in India, which is posing impacts on China's Belt and Road Initiative BRI and competition with Made in China. His absence at the 2017 Belt and Road Forum in Beijing unexpectedly aroused discussions and concerns among various media outlets around the world. Because the Modi-led National People's Party NPP has carried out several major reforms, which strengthened the construction of the party's social grassroots organizations, and won considerable success and support in Indian society, it can be expected that the NCP would not pose a major challenge for Modi for a long time. Modi showed great interest in China's economic development model by proposing a large-scale infrastructure plan, aiming to change the old and backward situation of India's infrastructure and stimulate the country's economic growth. ( As reported in the news.

return money: Sources close to Wang told the Global Times that he cheated his former boss surnamed Lu out of more than 2 million yuan 285,885 in 2016, according to Global Times China. As Wang had written a letter of request for understanding and guarantee letter and promised to return the money, Lu did not report the fraud case to police. Player option ; Wang Liqiang, the self-proclaimed Chinese spy who defected to Australia, seems to have become an abandoned card after being used by Western media, yet some politicians on the island of Taiwan have ignored the facts and are mixing up black and white and using him as an anti-mainland chip. Lu told the Global Times in an exclusive interview in Shanghai that Wang Liqiang is a complete and born fraudster. Lu got to know Wang at a dinner in East China's Fujian Province in early 2016 after being introduced by one of Lu's friends. I regret not sending him to the public security bureau. ( As reported in the news.

travel document: The African Union AU already made this commitment back in 2016, according to Deutsche Welle. Moreover, from 2020, Africans are to receive a common Africa passport. The New Year 2020 is to become the year of freedom of travel within Africa. The structure, appearance and number of pages of the travel document have long since been finalized 32 pages for the average citizen, with content written in five different languages; English, French, Portuguese, Arabic and Kiswahili to make it truly African. For example, Nigeria's President Muhammadu Buhari recently announced that beginning January 2020, citizens of other African countries would no longer require visas to enter Africa's most populous nation. Read more Africans want open borders, but can they overcome stumbling blocks So far, not much has been heard about the passport despite the fact that more and more African countries are lifting travel restrictions. ( As reported in the news.

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financializer news

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