Economy & Markets
The important economic and stock market news that advisors need to know.
Fitch Downgrades 3 Big Banks, Threatens Over a Dozen More
By Marlene Y. SatterFitch Ratings cut the long-term issuer default ratings of three major banks late Thursday, and warned that more than a dozen more may see their ratings cut as well as it put them on a negative watch.
October 13, 2011
From Wall Street to Fleet Street: Protests Set for LondonThe Occupy Wall Street movement, whose growing presence in Lower Manhattan has steadily attracted more notice, is spreading to Fleet Street, where protestors plan a Saturday march to the London Stock Exchange.
October 13, 2011
AIG: $4.5 Billion of New Bank Credit FacilitiesOut with the old, in with the new: AIG has announced two new Bank Credit Facilities to simplify credit facility structure for themselves and their subsidiaries.
October 13, 2011
Warren Buffett’s Eldest Son, Howard, Defends Occupy Wall StreetHoward Buffett, in Des Moines, Iowa, on Wednesday to present a speech at the World Food Prize conference, said, I think it takes that to make things happen sometimes, adding that over the last 15 years we saw large corporations really screw people.
October 12, 2011
PPACA: Income Formula Change Might Save BillionsA Republican from Tennessee has an idea for trimming health tax credit costs.
October 12, 2011
SEC Advances Volcker RuleA day after being approved by the FDIC, the SEC approved the proposed rule implementing the Volcker rule, mandated under Section 619 of Dodd-Frank.
October 12, 2011
Lord Abbett’s Ezrati: Economy Not as Grim as It AppearsThe market strategist said that while there is very little good news to talk about in a historical sense, the problems faced by the world economy were priced-in already and those problems were unlikely to escalate.
October 12, 2011
Unemployment in Britain Hits Highest Point in 15 YearsDespite a determined pursuit of austerity measures to bring down its deficit, the U.K. is experiencing its highest unemployment level in 15 years coupled with a recovery that the National Economic and Social Research Institute called the weakest of any since the end of the First World War.