Economy & Markets
The important economic and stock market news that advisors need to know.
Threat of French Downgrade Endangers Eurozone Plan
By Marlene Y. Satteroodys Investors Service said late Tuesday that Frances top-grade credit rating was under pressure from the eurozone crisis. The news could mean trouble for the plan being assembled by European leaders to avert a complete economic meltdown.
October 17, 2011
Q3 Earnings: Citigroup's Climb 74% on Accounting GainCiting a one-time accounting boost, Citigroup reported a 74% rise in Q3 2011 profits compared with a year ago. Citi CEO Vikram Pandit said the bank continues to pare down its brokerage and asset management units.
October 17, 2011
Occupy Wall Street Turns One Month Old, Goes GlobalPresident Obama has spoken sympathetically of the leaderless protest movement, Republican candidates have criticized it, Paul Krugman speaks of the group's positive potential while rioters in Rome attest to its destructive potential...
October 17, 2011
G20 to EU: Crisis Must Be Fixed This WeekA meeting of G20 nations concluded on Saturday with an ultimatum to the European Union: fix the simmering debt crisis in one week. The 'or else' implied in the ultimatum is a complete meltdown of the global economy, worse than that which followed the Lehman collapse.
October 17, 2011
Banks Push Back Against Greek Debt CutsEuropean banks are pushing back against a plan for write-downs of Greek debt that would be great then than the 21% already agreed upon.
October 17, 2011
AdvisorOne’s 2011 Q3 Earnings Calendar for the Finance SectorThe third-quarter 2011 earnings period is now underway, with many finance-sector companies reporting.Here is AdvisorOne's calendar marking expected Q3…
October 14, 2011
U.S. Money Funds Cut French Lending by 44%The eight biggest U.S. money market funds slashed their lending to French banks in September by a staggering 44% overall, with some bank holdings falling even further as worries over the eurozone debt crisis multiplied.
October 14, 2011
Senate Republicans on Finance Committee Urge Deficit Panel to Make ChangesRepublican senators' recommendations to the Joint Select Committee on Deficit Reduction include repealing the Alternative Minimum Tax and the health-care law and reforming Social Security.