Economy & Markets
The important economic and stock market news that advisors need to know.
Reinhart and Rogoff Rebuke Romney Economic Advisers
By Gil WeinreichReinhart 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
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.
October 17, 2012
M&A Prospects Lead Citi to Add Seven in JapanA stagnating local economy and a strong yen are leading Japanese companies to look outside their own borders for expansion, and sources say that has led Citigroup to add seven bankers in the country to tend mergers and acquisitions.
October 16, 2012
Natixis Acquires McDonnell to Broaden Fixed-Income OfferingsOak Brook, Ill.-based McDonnell, with AUM of about $13.5 billion, will affiliate with Natixis, based in Paris and Boston, with AUM totaling $711 billion.
October 16, 2012
Sheila Bair Calls Pandit’s Departure From Citi a ‘Very Positive Move’Bair had "concerns" about Pandit's qualifications to serve as the CEO of Citigroup.
October 16, 2012
Japan to Overtake China as U.S. CreditorThe most recent figures indicate that Chinese holdings of Treasuries have fallen in 2012 through July by 0.2% to $1.15 trillion.
October 16, 2012
EU Sanctions Iranian Oil, GasEU governments hit Iran with new sanctions on its oil and gas and toughened some that were already in place on the countrys banks.
October 16, 2012
German Finance Minister Wants to Change EU TreatiesGerman Finance Minister Wolfgang Schaeuble is advocating changes that will allow the EUs monetary affairs commissioner to reject national budgets and prevent non-eurozone countries, like Britain, from nixing eurozone-only measures.