Economy & Markets
The important economic and stock market news that advisors need to know.
Why Wall Street’s Selloffs Have Been, and Will Continue to Be, Brutal: News Analysis
By Gil WeinreichThe stock market is like a theater where traders, portfolio managers and individual investors act out the sentiments felt in the broader economy.
September 23, 2011
UBS Board Pondering Fate of Banking Giant, CEOThe board of UBS met in Singapore on Friday to consider what will be the future of the Swiss giant after trader Kweku Adoboli allegedly lost $2.3 billion in fraudulent activities. The future of its CEO, Oswald Greubel, also hangs in the balance.
September 23, 2011
One-Third of Retirees Receive Annuity IncomeOver one-third of retirees receive income from annuities, but for the majority, these instruments provide just 4% of their income, according to a report released Sept. 16 by LIMRA.
September 23, 2011
More Budget Drama: Senate Defeats House Spending BillGovernment shutdown looms, again, as Congress prepared on Friday to adjourn for a week. Reid says Senate will vote on new bill Monday.
September 22, 2011
Winning and Losing States of AmericaThe economic laboratories at work in the 50 states have produced disparate results according to new government data, and experts say the success of states like North Dakota and Utah and poor performance of Michigan and Nevada have national implications.
September 22, 2011
Senate Banking's Shelby Floats Cost-Benefit BillSen. Richard Shelby, R-Ala., ranking GOP member on the Senate Banking Committee, introduced a bill on Thursday that requires financial regulators, like the SEC, to provide rigorous and consistent economic analyses on new rules they propose.
September 22, 2011
Moody’s Downgrades BofA, Wells Fargo & CitigroupMore advisors may feel the necessity to seek independence, as lack of potential government bailouts led to ratings cut.
September 22, 2011
U.S. Government Shutdown Looms AgainIn a surprise outcome on Wednesday, the House of Representatives failed to pass a bill needed to fund the federal government past Sept. 30.