Economy & Markets
The important economic and stock market news that advisors need to know.
Chinese Innovation to Fuel Global Competition: McKinsey
By Joyce HansonAs innovation gains steam in China, the stakes are rising for domestic and multinational companies alike, reports McKinsey & Co. in the latest issue of its business journal.
February 13, 2012
Obama’s 2013 Budget Raises Taxes on Top Earners, Bolsters SEC BudgetPresident Barack Obama on Monday released his 2013 budget to Congress, which includes boosting taxes for higher income earners as well as allocating more funds to the SEC.
February 13, 2012
S&P 500 Has Strongest Start Since 1991The broad market has climbed 7.5% in 2012, the most since 1991, as recent unemployment numbers indicated a decrease in the jobless rate and interest rates are slated to remain low through 2014.
February 13, 2012
EU Could Still Fall: SorosThe hard-won vote of approval over the latest austerity measures, said Soros, is not necessarily going to work in the long run. But it will certainly buy you another six months of quiet on the Greek front.
February 13, 2012
ANZ Bank to Cut 1,000 Jobs, Freeze Exec PayThe announced job cuts will be domestic and will be made by Sept. 30. They will primarily affect middle management, back office and support staff.
February 13, 2012
US Stocks Gain Following Latest Greek Debt DealU.S. stocks rose Monday after Greece's parliament voted for spending cuts so it can get a bailout to save the country from bankruptcy.
February 13, 2012
Greece Adopts Austerity PlanAs Athens burned, the Greek Parliament approved a new budget cuts aimed at getting international relief for its debt.
February 13, 2012
S&P on Europe: Better to Be in Than OutYes, the region has problems, but S&P Capital IQ says its turned more positive on the area, citing the ECBs move to ease pressure on banks.