Economy & Markets
The important economic and stock market news that advisors need to know.
China Bank Head Ditches IMF Meet in Snit Over Islands
By Marlene Y. SatterMeetings of the IMF and World Bank were a few short as they got under way this week in Japan.
October 09, 2012
IMF Says Global Slowdown Could Be ‘More Lasting’The IMF cut its forecast for global economic growth, saying that the slowdown could have a more lasting component and that there was a very shaky confidence in the global financial system.
October 09, 2012
Swiss Commodities Business May Be RevampedSuch changes could threaten Switzerland's reputation as a global commodities trading hub.
October 09, 2012
Julius Baer May Cut 1,000 Jobs After Merrill AcquisitionThe bank seeks to reduce its workforce by 15%18%, now that it has a combined staff of some 5,700 in the wake of its acquisition of Bank of America-Merrill Lynchs former U.S. wealth management units.
October 08, 2012
House Bill Would Cut $762 Million From Social Security’s BudgetThe Social Security Administration warned Friday that drastic funding cuts proposed by the House would dramatically impact service to seniors and other beneficiaries and needlessly waste taxpayer dollars.
October 08, 2012
Millionaires Give Good Marks to Advisors, Bad Marks for EconomyComprehensive research from Maritz Research conducted last spring details everything from the voting habits of the well-heeled to millionaires views of their own advisors.
October 08, 2012
Bill Gross Compares ‘Damaged’ Fiscal Situation to Own AmnesiaWhen Bill Gross says he has amnesia, maybe its time to panic.
October 08, 2012
Six Banks Set LIBORIn the wake of the scandal that revealed LIBOR under manipulation by banks all over the world, the benchmark lending rate is suffering a credibility gap even as a smaller core group of banks contributes to setting the rate.