Economy & Markets
The important economic and stock market news that advisors need to know.
UBS Expects Modest Profit for Q3, New Client Inflows
By Janet LevauxUBS said Tuesday that, despite a loss of $2.3 billion related to unauthorized trading and $433 million restructuring charge tied to cost cutting, it should report a modest net profit for the third quarter of 2011.
October 04, 2011
EU Hints Greek Bondholders May Get Stung With Sharper LossesThose institutions and investors holding large quantities of Greek bonds may be in for bigger losses than an originally agreed-upon deal provided for, according to hints from European finance ministers who met Monday to discuss Europes ongoing debt crisis.
October 04, 2011
PIMCO’s El-Erian: Steep Stock Losses Offer ‘Bad Omen’ on EconomyReferring to the Friday market selloff, which ended the worst quarter of losses on the S&P since Q4 2008, Mohamed El-Erian, CEO and co-CIO of PIMCO, said that it was a particularly bad omen for worse times to come.
October 03, 2011
Market Effects of Client Dismay With D.C.—Searching for Alpha for October 2011Lack of confidence in the government understanding or managing the economy led many investors to trim their positions leading up to the fourth quarter.
October 03, 2011
Health Care Costs to Top $10,000 Per Worker for First Time in 2012Despite the fact that health care costs are projected to rise at a slower rate in 2012 than they did in 2011, according to Aon Hewitt, the per-employee expense to companies will pass $10,000 for the first time in 2012. Employee expenses are on the rise as well.
October 03, 2011
Roubini: Europe Needs 2 Trillion Euro ‘Bazooka’Economist Nouriel Roubini said Europe must increase the money it has raised to battle its debt crisis and deploy a 2 trillion euro ($2.7 trillion) bazooka before it is too late.
October 03, 2011
Eurozone Ministers Debate Stability PlanEurozone finance ministers gathered in Luxembourg on Monday to discuss ways to leverage the European Financial Stability Facility and also to put pressure on Greece to implement additional financial reforms to try to jumpstart its shrinking economy.
October 03, 2011
Buffett Jabs Wall St., Saying It ‘Doesn’t Feel Loved’Wall Street doesnt feel loved, Warren Buffett told Charlie Rose in an interview on Sept. 30. Buffett noted that some rhetoric from President Barack Obama led to a lack of support from Wall Street.