Economy & Markets
The important economic and stock market news that advisors need to know.
Spain Takes S&P Rating Cut
By Marlene Y. SatterS&P not only downgraded the countrys sovereign debt rating two notches to a single level above junk, but also gave it a negative outlook. The ratings agency cited the uncertain economic and political situation in its reasoning.
October 10, 2012
8 Presidents, 1 Nominee and Tax Rates They PaidThe controversy over Mitt Romneys limited disclosure of his tax history and the 14.1% tax rate he paid led AdvisorOne to compare his rate to eight presidents going back to 1970.
October 10, 2012
Peter Schiff: Avoiding Looming ‘Fiscal Cliff’ a MistakeEconomic gadfly and president and CEO of Euro Pacific Capital comes out strong in response to the IMFs latest report on the global economy.
October 10, 2012
Across Party Lines, Transition Boomers’ Biggest Worry Is Health Care: AllianzSocial Security ranks as the second-biggest concern for both Democrats and Republicans age 55 to 65, an Allianz Life survey found.
October 10, 2012
Jack Welch Slams Critics, Defends Twitter Comments About Jobs NumbersThe management guru and former General Electric CEO responded Wednesday to the firestorm of criticism created by his tweet in response to employment figures.
October 10, 2012
Grandpa has dementia, but he's still trading stocksSuggesting that you should take over the finances of an aging relative is an extremely tricky situation.
October 10, 2012
Italy Cuts Taxes on Lowest EarnersThe government also announced that it was cutting in half a planned increase in sales tax rates to a single percentage point.
October 10, 2012
IMF Boosts Estimate of Bank Selloffs to $4.5 TrillionThe IMF said that if political leaders fail to quell the fiscal crisis, it foresees European banks having to sell up to $4.5 trillion in assets through 2013.