Economy & Markets
The important economic and stock market news that advisors need to know.
Eurozone Bank Supervision to Start in 2013
By Marlene Y. SatterA meeting of EU leaders resulted in agreement that the ECB will be at the head of a framework of eurozone bank supervision, and that the structure will be in place by the beginning of 2013.
October 18, 2012
ING Could Sell Asian Units for $2.2BING Groep was said by sources to be close to an agreement to sell its Hong Kong and Thai insurance businesses to Richard Li for some $2.2 billion.
October 18, 2012
Merkel Calls for Financial Transaction Tax-Funded Aid PlanChancellor Angela Merkel of Germany raised the prospect of a new European aid fund that would be used to help struggling eurozone countries finance projects to improve their fiscal well-being and make them more competitive.
October 17, 2012
Former Morgan Stanley Chief Mack on Pandit: ‘Clearly There Was Unhappiness With the Board’John Mack, former chairman and CEO of Morgan Stanley,said "there was a view clearly by shareholders that change was a good thing."
October 17, 2012
Reinhart and Rogoff Rebuke Romney Economic AdvisersReinhart and Rogoff, economic historians famous for their book, "This Time Is Different," criticized economists advising the Romney campaign who misused their findings from their book on the recent economic recovery.
October 17, 2012
Templeton’s Mobius: New Global Investing Hot SpotsMark Mobius says the bull market in emerging markets will eventually surpass the rally here at home.
October 17, 2012
Tough Talk in U.K. on Banks, Starbucks TaxesThe U.K. was sounding a note of authority with assertions that banks should be compelled to hold a certain amount of capital and threats of an investigation into Starbucks tax affairs.
October 17, 2012
RBS Leaves U.K. Asset Protection PlanRoyal Bank of Scotland Group has paid 2.5 billion pounds ($4 billion) to the British government to insure its riskiest assets and agreed to exit the Asset Protection Scheme.