News 

Trump downplays March 1 deadline for China to make trade concessions

“President Trump downplayed the March 1 deadline for China to make trade concessions Tuesday, suggesting that the date is not a major factor in talks between the countries” reports washingtonexaminer.com. The date is not a magical date,” Trump told reporters when asked if the administration could complete the talks by the original deadline.Last week, administration officials began leaking to news outlets that that it may no longer hold to March 1 as the deadline. On Friday, Trump confirmed that the deadline could be disregarded, telling reporters that “there is a…

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Sen. Ron Wyden, D-Ore., called on the White House Tuesday to release a confidential internal report on the potential need for auto and auto parts tariffs.

“Ron Wyden, D-Ore., called on the White House Tuesday to release a confidential internal report on the potential need for auto and auto parts tariffs” reports washingtonexaminer.com. Trump has interpreted that authority broadly to justify imposing tariffs on steel and aluminum imports and has threatened to impose a 25 percent tariff on auto and auto parts imports. “Decreased sales will mean fewer American jobs with wide-ranging effects across our economy that could prove catastrophic.”. The Commerce Department delivered the report to the White House Sunday, but the administration has indicated…

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Brokers Crypto Markets News Platforms 

Cumberland Launches Crypto Trading Platform for Institutions

“Cryptocurrency trading firm Cumberland announced on Tuesday that it has launched a spot trading platform for its customers” writes David Kimberley for financemagnates.com. Called Marea, the new platform will allow clients to place orders online and interact with members of the Cumberland team.With retail interesting petering out, market makers, brokers and exchanges are turning their attention to the institutional trading world. In some ways, pursuing the latter model could be a positive for the cryptocurrency trading world as lots of poorer investors losing money tends to lead to greater regulatory…

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News 

Lawmakers want to question Facebook about the privacy of groups

“Lawmakers are looking to question Facebook about its privacy practices after allegations that the service revealed sensitive health information in groups” writes Feb Est for theverge.com. Now, a letter from lawmakers on the House Committee on Energy and Commerce is questioning whether Facebook users were “potentially misled” about what data they would reveal by joining a closed group.In a Federal Trade Commission complaint, filed last month and publicly released yesterday, a security researcher and health advocates said the company was failing to keep sensitive data secure. Source: theverge.com

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Large asset managers are thinking about farming off some of their trading desks, and it could be a gold mine for custodian banks and prime brokers

“The external trading groups are often part of investment banks, prime brokers, asset managers, and custodian banks, which typically charge a fee of five basis points per trade” writes Meghan Morris for businessinsider.com. Marenzi has also spoken with a number of large Japanese managers that are considering other companies for their US equities trading.That trader can handle about $1.5 billion worth of annual equities trading, so for strategies with smaller volume, it may make more sense for another company to handle these trades.The asset management industry has faced a tough…

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News 

Florida health agency challenges ruling on medical marijuana dispensaries

“The 2017 law has spawned a series of lawsuits, including another case at the 1st District Court of Appeal that challenges a ban on smoking medical marijuana” writes Jim Saunders for sun-sentinel.com. Gievers sided in the case with the medical-marijuana firm Trulieve, finding that the limit on dispensaries violated a 2016 constitutional amendment that broadly legalized medical marijuana.Ron DeSantis demanded that lawmakers eliminate the smoking ban and threatened to drop the appeal if they do not act.As lawmakers weigh changes to the state’s medical-marijuana laws, the Florida Department of Health…

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AUD News Reviews 

AUD Daily Review February 19, 2019

AUD Daily Review for February 19, 2019 AUD/NZD: On the verge of a major breakout to the downside, targetting 1.0235/50 AUD/NZD is taking its cues from a number of factors, but in the main, the pair has started to consolidate the Aug 2018 downtrend in 2019, albeit with   AUD/USD Technical Analysis: Aussie trading below 0.7130 ahead of RBA AUD/USD daily chart AUD/USD is trading in a bear trend below the 200-day simple moving average (SMA). The Reserve Bank of Australia Meeting’s Minu   AUD/USD calm around 0.7130 ahead of…

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News Stocks 

How trillion-dollar stock-market index funds are vulnerable to manipulation that ‘could harm American investors’

“A recent op-ed in the New York Times cautions that passive index funds may be vulnerable to bias and, possibly manipulation, as interest in those funds has ballooned over the past decade” writes Mark Decambre for marketwatch.com. Dangers may lurk in index funds, a popular area of the stock-market known for its recent and consistent record of outperformance against actively managed funds, according to experts. Nearly $6.7 trillion, or a third of those assets resided in passive funds at that time, the data provider said.Such passive ETFs track an index…

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News Stocks 

Office of Government Ethics declines to certify Wilbur Ross financial disclosure report

“The Office of Government Ethics has declined to certify the financial disclosure report of Commerce Secretary Wilbur Ross, according to a new filing” writes D C for marketwatch.com. The 2018 annual filing wasn’t certified because, it says, Ross said he did not hold BankUnited stock BKU, +0.83% while the transaction report from Oct. 31, 2018, demonstrated that he did. Source: marketwatch.com

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