Bitcoin skids to two-week low, but technical analyst says the slump is not a ‘decisive breakdown’ — she’s watching the next two closes

Bitcoin was under fresh selling pressure Tuesday, dragging the world’s No. 1 cryptocurrency to lows not seen since late May. At least one technical analyst, though, says the slump doesn’t represent a decisive breakdown of the bitcoin uptrend unless and until the asset registers weaker closes today and tomorrow.

Read more at: Bitcoin skids to two-week low, but technical analyst says the slump is not a ‘decisive breakdown’ — she’s watching the next two closes - MarketWatch

EU-China Trade Relations - Germany: 'Better off thanks to China': German companies double down on resurgent giant - by Michael Nienaber

German industrial robot-maker Hahn Automation plans to invest millions of euros in new factories in China over the next three years, keen to capitalise on an economy that's rebounding more rapidly than others from the COVID-19 crisis.

Read more at: 'Better off thanks to China': German companies double down on resurgent giant

EU-Japan Relations: EU and Japan join forces to counter US and Chinese initiatives – by Jorge Valero

The EU and Japan signed on Friday (27 September) a holistic partnership to promote investment projects based on rules-based and sustainable principles, and to counter the risks posed by the US and China.

The EU-Japan partnership on sustainable connectivity – a term covering an array of trade, economic, transport and environmental fields – and quality infrastructure was presented to other Asian partners during the EU-Asia connectivity forum held on Friday.

Both partners agreed to “promote free, open, rules-based, fair, non- discriminatory and predictable regional and international trade and investment, transparent procurement practices, the ensuring of debt sustainability and the high standards of economic, fiscal, financial, social and environmental sustainability,” the text reads.

The deal will cover all dimensions of connectivity including digital, transport, energy and people-to-people exchanges.

Read more: EU and Japan join forces to counter US and Chinese initiatives – EURACTIV.com

EU: More growth and jobs: EU invests €873 million in clean energy infrastructure

Europe's transition to a clean and modern economy is the goal of the Energy Union, a priority of the Juncker Commission. It is now becoming the new reality on the ground, and one important building block is adapting the European infrastructure to the future energy needs. Properly interconnected electricity lines and gas pipelines form the backbone of an integrated European energy market anchored on the principle of solidarity. Thus, supporting these 17 selected electricity and gas projects , signals Europe's willingness to upgrade and make the European energy system more competitive that will ultimately deliver cheaper and secure energy to all European consumers.

The EU funding for the chosen projects comes from the Connecting Europe Facility (CEF), the European support programme for trans-European infrastructure.

Commission Vice-President for Energy Union Maroš Šefčovič said: "Once more we demonstrate that cooperation and solidarity pays off and that the Energy Union is becoming a reality with tangible impact on the ground. These are important projects with major cross-border benefits and by implementing them we strengthen energy resilience of EU Member States. The Connecting Europe Facility has yet again shown tremendous added value in the modernisation of the European economy."

Commissioner for Climate Action and Energy Miguel Arias Cañete said: "The construction of the Biscay Gulf France-Spain interconnection marks an important step towards ending the isolation of the Iberian Peninsula from the rest of the European energy market. Only a fully interconnected market will improve Europe's security of supply, reducing the dependence of single suppliers and giving consumers more choice. An energy infrastructure which is fit for purpose is also essential for renewable energy sources to thrive and for delivering on the Paris Agreement on climate change."

For the complete EU Commission Press release, click here

Automobile Industry: Panasonic to invest over $256-million in Tesla’s U.S. plant for solar cells

Panasonic Corp will invest more than 30 billion yen ($256-million) in a New York production facility of Elon Musk’s Tesla Motors to make photovoltaic (PV) cells and modules, deepening a partnership of the two companies.

Japan’s Panasonic, which has been retreating from low-margin consumer electronics to focus more on automotive components and other businesses targeting corporate clients, will make the investment in Tesla’s factory in Buffalo, New York.

The U.S. electric car maker is making a long-term purchase commitment from Panasonic as part of the deal, besides providing factory buildings and infrastructure.

In a joint statement on Tuesday, the two companies said they plan to start production of PV modules in the summer of 2017 and increase to one gigawatt of module production by 2019. The plan is part of the solar partnership that the two companies first announced in October, but which did not disclose investment details.

Tesla is working exclusively with longtime partner Panasonic to supplyatteries for its upcoming Model 3, the company’s first mass-market car. Panasonic is also the exclusive supplier of batteries to Tesla’s Model S and Model X.

Read more: Panasonic to invest over $256-million in Tesla’s U.S. plant for solar cells - The Globe and Mail

Cuba: Europe’s new market - by Beatriz Beiras

French President Francois Hollande was, in May last year the first Western head of state to visit Cuba after the thaw in relations between the Caribbean island and the US.

It was an investment for the future, a pragmatic move by the president to lay foundations to grow political and economic partnerships.

French companies are already operating in Cuba with the Pernod Ricard group part of a joint venture with Havana Rum. The company’s subsequent global growth has been hailed as an unbridled success by International Managing Director Jerome Cottin-Bizonne. Around 500 million bottles of rum were sold last year.

But France is only the fourth foreign investor with Spain top of the league followed by Canada and Italy.

French tourists number in the region of 117,000 a year and though that figure will rise it is still far behind those travelling from Canada.

They represent over a third of the three and a half million who visited the island in 2015 a rise of 17 percent since 2014.

But accommodation is a problem. There are just 63,000 rooms at the moment putting the tourist industry under strain.Authorities aim to take that number to 85,000 by 2020.

Foreign investment will be vital to help build Cuba’s infrastructure to cope with tourists. Industry experts have voiced their concern the island will not be able to absorb an even greater surge when US commercial airline and ferry services start later this year.

Read More: Cuba: Europe’s new market | euronews, world news

Investment Brokers: The Brokerage World Is Changing, Who Will Survive? - by Andre Cappon and Stephan Mignot,

Once upon a time, being a stockbroker was comfortable, genteel and lucrative.

In the “old world,” brokers, as members and owners, controlled the exchanges. Exchanges were run as quasi-non-profit clubs or utilities to support their members. Exchanges had monopoly on liquidity and brokers controlled access. By providing investors access to markets, brokers earned commissions and also received trading fee rebates from the exchange. A long time ago, brokerage commissions were even fixed (remember).

Brokers thus competed on the basis of service and relationships, rather than price.

The introduction of negotiated commissions in the U.S. in 1975 (eventually followed by most other markets in the world) marked the beginning of constantly increasing competition and challenges for brokers. In the last 10-15 years, this process accelerated.

Capital markets experienced a revolution driven by technology and radical change in market structure.

Electronic trading dramatically increased trading volumes and liquidity and slashed the cost of intermediation and broadened access to markets. Exchange demutualization led to a dilution of the status of exchange member.

 Access to liquidity was “democratized”.  Liquidity became fragmented among exchanges, alternative trading platforms, lit and dark pools and so on. Exchange “specialists” (market-makers) disappeared.

In many ways, brokers and exchanges now compete with each other: brokers may internalize order execution, they may use alternative exchanges or dark pools; established exchanges offer “direct market access” (DMA) and are occupying increasing space in the investment process, both pre-trade and post-trade.

The US and UK markets – New York, Chicago, London – are pretty much the “laboratory” for the securities industry worldwide. We shall draw on their experience to illustrate the evolution of the securities industry and extrapolate to other geographies.

The “sell-side” securities industry (i.e. the brokers), has been experiencing deteriorating economics, due to   pricing pressures, increasingly stringent regulation, and changes in market structure.

Life has become very tough for brokers.

Read more: The Brokerage World Is Changing, Who Will Survive? - Forbes