Economy & Markets
The important economic and stock market news that advisors need to know.
China to Clear Off Billions in Local Government Debt
By Marlene Y. SatterChina's regulators intend to move 2-3 trillion yuan ($308-463 billion) of debt off the books of local governments, paying off some and forcing some of its "Big Four" banks to absorb some losses.
June 01, 2011
FPA in China: How the Chinese Invest Now and for RetirementChinese investors seek high returns but with low risk; real estate a primary vehicle in a nascent financial services environment
May 31, 2011
Debt Limit Increase Fails in Congress in Largely Symbolic VoteThe House overwhelmingly rejected President Barack Obama's call to increase the $14.3 trillion debt limit without conditions, by a vote of 318-97. Even some Democrats supporting Obama's position voted against it.
May 31, 2011
Annuity Assets Were Highest Ever in Q1: MorningstarAnnuity sales hit a new high-water mark with results for the first quarter of 2011, when they logged in with assets reaching their highest level ever and posted double-digit increases over the same period in 2010.
May 31, 2011
Cuban Oil Find, Drilling Reverberates in WashingtonCuban coastal oil exploration triggers odd political bedfellows in U.S.
May 31, 2011
Yuan Appreciation Against Dollar Threatens Stability: China ExpertPolitical unrest in China could result if the yuan continues to appreciate significantly against the U.S. dollar, according to Benjamin Wey, president of New York Global Group. Late Monday the yuan did just that, guided by the central bank, and the move will not be without consequences.
May 31, 2011
China Wages to Rise Over Next Five YearsWages for Chinese workers will continue to increase over the next five years, according to the CEO of consumer goods exporter Li & Fung Ltd., and the increases have already contributed to a drive to locate cheaper labor markets.
May 31, 2011
RBS Launches Joint Brokerage Venture With Chinese PartnerThe new China brokerage house, Huaying Securities, plans to cash in on the boom in investment banking in China. At the same time, Founder Securities, the Chinese joint venture partner of Credit Suisse, received approval on Monday for its IPO.