Economy & Markets
The important economic and stock market news that advisors need to know.
America Must Unleash the Wealthy to Relaunch Economy: News Analysis
By Gil WeinreichThe 400 wealthiest Americans, who earned $81 billion collectively, paid nearly as much in taxes as the bottom 50% of U.S. taxpayers69 million Americans who together earned more than $1 trillion.
June 07, 2012
CEO Shea Looks to Broaden Pershing’s Global ViewPershing CEO Brian Shea points out benefits of a company that can execute, clear and report in 65 countries.
June 07, 2012
Putnam Investments Opens Office in ChinaPutnam Investments announced on Wednesday that it has opened an office in Beijing, the latest step in building its presence in strategic markets within Asia.
June 07, 2012
Spain Auction Beats TargetAlthough yields were at a high not seen since November, Spain exceeded its target at a Thursday bond sale, easing fears that financial markets were closed to the country.
June 06, 2012
ECB Sees Gradual Recovery, Leaves Rates UnchangedEuropean Central Bank president Mario Draghi undermined hopes of a rate cut Wednesday, saying the bank's earlier forecast for a gradual recovery this year is accurate.
June 06, 2012
Bill Clinton Seeks Obama Win (But He Likes George Bush, Too)"I thought he was awesome," said one Pershing colleague to another at the close of Clintons keynote address at the BNY Mellon companys annual conference in Hollywood, Fla.
June 06, 2012
Why Advisors Should Never Let a Crisis Go to WasteI was able to take a miserable day and turned it into one of the best PR days Ive had, Jim Person said at Curian Capital's semiannual advisor gathering.
June 06, 2012
Oppenheimer Pays $35 Million for Misleading Advisors and ShareholdersStandard investment industry warnings about reading the prospectus would have done little good to investors in two Oppenheimer bond mutual funds, whose misleading statements cost the fund company $35 million in SEC sanctions.