Shanghai now fourth-ranked financial center in world

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NEW YORK, New York, Sept. 20 (Xinhua) — Shanghai is expected to play an increasingly important role as a financial center thanks to China’s commitment to and efforts in the continuous reform and opening up, experts have said.

According to the yearly Global Financial Centers Index reports by Z/Yen, a commercial think-tank in London, Shanghai has become the fourth most competitive financial center in the world following New York, London and Tokyo in early 2020. It ranked the 24th in 2013.

Aiming to become both an international financial center and an international shipping center by 2020, Shanghai’s ranking as a financial center moved up significantly.

Shanghai has a lot of potential to be a major international financial center for similar reasons why New York is, said Richard Sylla, chairman of the Museum of American Finance in a recent interview with Xinhua.

The economic foundation there for a financial center is

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WTI has rejected $40.50 again but the chart still looks positive for now

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  • WTI trades 0.26% higher despite some recent weakness.
  • There is now an interesting flag-like pattern on the hourly chart.

WTI 1-hour chart

The oil complex had been hit by the recent dollar strength much like many of the other commodities. WTI has managed to bounce back after the OPEC+ group announced the output cuts will continue till December. DoE inventory levels also produced a draw today (Wednesday) but it was not as large as some analysts had been expected but a draw is good nevertheless. 

The recent price action has moved into a flag type formation. A break in either direction would be a good signal for the future path but the topside break seems more likely at the moment. 

The blue resistance line at USD 40.50 per barrel is a firm. The market has used the zone on multiple occasions on this chart alone. If it breaks the next

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Euro zone economic recovery in danger as services slide

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By Jonathan Cable

LONDON (Reuters) – Euro zone business growth ground to a halt this month, throwing the economic recovery into question, as fresh restrictions to quell a resurgence in coronavirus infections slammed the services industry into reverse, a survey showed on Wednesday.

The renewed downturn in the dominant services sector, which is likely to be hit harder by new constraints on activity imposed across the 19-country euro zone, more than offset the strongest manufacturing growth in two years.

“Alarm bells should be going off about the pace of the recovery at the moment as the number of new COVID-19 cases has been flaring up,” said Bert Colijn at ING.

“For governments and the European Central Bank, this will be a wake-up call, if they needed one.”

IHS Markit’s flash Purchasing Managers’ Index sank to 50.1 in September from August’s 51.9, only just above the 50 mark separating growth from

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John Loftus Joins Alliant Insurance Services

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InvestorPlace

7 Sin Stocks To Buy That Will Outperform the S&P 500

While the S&P 500 and a wide range of stocks continue their September slide, many investors are understandably jittery, wondering if a second market crash is coming this year. In response, they’re searching for industries that can offer more stability, but also growth and income over the coming quarters. One such group are the so-called “sin stocks,” which benefit when humans indulge in vices.Although there may be different definitions of sin stocks, these businesses include those in alcohol, tobacco, cannabis, gambling, adult entertainment, weapons and defense industries. What is viewed as a sin stock today may also change over time.Recent research by David Blitzo of Robeco Asset Management in Rotterdam, the Netherlands, and Frank J. Fabozzi of EDHEC Business School in Nice, France, highlights how “various studies … [of] the historical performance of sin stocks … [show] they

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Federal Report Warns of Financial Havoc From Climate Change

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WASHINGTON — A report commissioned by federal regulators overseeing the nation’s commodities markets has concluded that climate change threatens U.S. financial markets, as the costs of wildfires, storms, droughts and floods spread through insurance and mortgage markets, pension funds and other financial institutions.

“A world wracked by frequent and devastating shocks from climate change cannot sustain the fundamental conditions supporting our financial system,” concluded the report, “Managing Climate Risk in the Financial System,” which was requested last year by the Commodity Futures Trading Commission and set for release on Wednesday morning.

Those observations are not entirely new, but they carry new weight coming with the imprimatur of the regulator of complex financial instruments like futures, swaps and other derivatives that help fix the price of commodities like corn, oil and wheat. It is the first wide-ranging federal government study focused on the specific impacts of climate change on Wall Street.

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Will the USD/CAD quotes rise?

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Recommendation for USD/CAD: Buy

Buy Stop : Above 1,333

Stop Loss : Below 1,299

Indicator Value Signal
RSI   Neutral
MACD   Buy
MA(200)   Neutral
Fractals   Buy
Parabolic SAR   Buy
Bollinger Bands   Buy

 

Chart Analysis

USDCAD

On the daily timeframe, USDCAD: D1 exceeded the downtrend resistance line. A number of technical analysis indicators formed signals for further growth. We do not exclude a bullish movement if USDCAD rises above the upper Bollinger band: 1.333. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the lower Bollinger band and the last two lower fractals: 1.299. After opening a pending order, we can move the stop loss to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction the most risk-averse traders can switch to the four-hour chart and set a stop

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Terry McAuliffe column: A federal privacy law Is essential to economic recovery | Columnists

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Witness the recent case in which police use of ineffective facial recognition technology led to the arrest of an innocent African American man in Detroit. And while states are starting to step up to fill the gaps, a state-by-state approach will lead to conflicting privacy standards and leave Americans inconsistently protected across the U.S.

Meanwhile, companies, particularly small businesses, will be left scrambling to comply with each different state privacy law that comes online. A state-by-state approach is a recipe for privacy pandemonium.

It’s time for both parties to prioritize passing a federal privacy law that ensures consumers are protected while enabling innovative new products and services to boost the U.S. economy.

There already is strong bipartisan agreement on a number of measures that would empower consumers with respect to how their personal information is used and protected. Further, there is a consensus that companies should be prohibited from high-risk

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Ford plans 5 new electric cars for Canadian production, union leader says

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Ford Oakville assembly plant

Home to more EVs in the near future.


Ford

Ford has been nowhere near as publicly gung-ho on electric cars as crosstown rival General Motors, but the Blue Oval reportedly has big things planned for battery-powered cars. On Tuesday, Reuters reported remarks from Jerry Dias, president of Canadian auto union Unifor, who not only mentioned a substantial investment in the Canadian production plants, but five new electric cars.

Ford Canada did not comment directly on Dias’ remarks. “Ford of Canada and Unifor have reached a tentative agreement on a three-year national labor contract covering nearly 5,400 unionized employees in Canada,” a Ford spokesperson told Roadshow. “To respect the ratification process, Ford of Canada will not discuss the specifics of the tentative agreement.”

Unifor did not immediately return Roadshow’s request for comment following Dias’

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KBG Insurance Agency In Spokane, WA Offers Comprehensive Insurance Services

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SPOKANE, WA / ACCESSWIRE / September 15, 2020 / Spokane, WA-based Kingdom Builders Group (KBG) Insurance & Financial is pleased to offer insurance and financial services to the residents of Washington and Idaho. KBG is a 5-Star rated insurance agency that offers a wide range of personal and commercial lines of insurance and investment services. These include life insurance, business property insurance, financial planning, auto insurance and home insurance. More services are listed on their website at https://sites.google.com/site/kbginsurancefinancial/.

KBG asserts that working with a broker gives clients more options and better rates for insurance services. The firm has partnered with Travelers Insurance, Safeco, Liberty Manual, Allstate, Grange Insurance Association, Progressive and so on in pursuit of providing customers the insurance plans that suit them at affordable prices.

Insurance services vary in terms of scale and purpose, but most are meant for personal, home and commercial use. For instance, earthquake insurance

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Navigating bonus culture in the finance sector

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Former and current governors of the Bank of England, Mark Carney and Andrew Bailey&nbsp


When COVID-19 swept across Spain this spring, the country’s second-largest lender, Banco Bilbao Vizcaya Argentaria (BBVA), did not waste time proving its social responsibility credentials. The bank announced on March 30 that its executives would forgo their bonuses for 2020, worth an estimated €50m ($56.26m). “The international pandemic caused by the coronavirus is an unprecedented health crisis,” a BBVA spokesperson told World Finance. “In the context of the measures taken by governments and monetary authorities to mitigate the impact of the pandemic on the world economy, financial institutions have a fundamental, and even exemplary, role in this crisis.”

This role has not always been a priority for banks, which were largely blamed for the economic shock of the 2008 financial crisis. Since then, they have gone to great lengths to convince governments and the public that

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