Economy & Markets
The important economic and stock market news that advisors need to know.
Lawmakers Probe Regulators Over Volcker Rule Proposal
By Melanie WaddellLawmakers took regulators to task on Wednesday over their proposal to implement Section 619 of the Dodd-Frank Act, commonly referred to as the Volcker rule, citing the proposed rules complexity as well as its costs.
January 17, 2012
S&P Cuts EFSF RatingStandard & Poor's followed up its mass cuts to the credit ratings of eurozone countries on Friday with a cut in the credit rating of the European Financial Stability Facility on Monday. EFSF officials said that nonetheless the facility was well enough funded to cope with the eurozone debt...
January 17, 2012
Fight Over Payroll Tax Cut Begins Anew for CongressAs lawmakers return to Washington this week and next, top on their agenda will be to begin hashing out a full-year deal to extend the two-month payroll tax cut that was approved before the holiday recess and that expires on Feb. 29.
January 17, 2012
London’s ‘Bloated’ Banks ShrinkingBanks in London are shedding staff, closing or cutting divisions and seeing pay fall as criticism by politicians, tighter regulations and falling profits take their toll on the financial services sector.
January 17, 2012
Goldman’s O’Neill to Developed World: Don’t Fear the BRICsChina creates another Greece every four months in terms of GDP growth, so developed countries would be well advised to embrace the BRICs, says Goldman Sachs' Jim ONeill.
January 17, 2012
China Seen Driving Oil to 3-Day HighAn expectation that China will increase financial stimulus led to a rise in the price of oil to a three-day high, as France advanced arguments for an embargo on Iranian oil. Meanwhile, Saudi Arabia said it would try to stabilize the price of oil at around $100.
January 16, 2012
Stocks to Climb in 2012, Birinyi Associates SaysMoney manager Laszlo Birinyi correctly predicted the 11% pullback by the S&P 500 in the fall, and he now predicts a bullish trend will continue in 2012.
January 16, 2012
Martin Luther King’s Economic PrioritiesIf Martin Luther King were alive today, what would he have to say about todays dominant issuethe weak economy?