Economy & Markets
The important economic and stock market news that advisors need to know.
Portugal Government Collapses as Austerity Measures Rejected; EU Meets
By Marlene Y. SatterAs expected, the Portuguese parliament voted down fresh austerity measures on Wednesday, and Jose Socrates resigned as prime minister. However, he said that he would still attend the European Union (EU) summit meeting convening Thursday in a caretaker role.
March 23, 2011
Japan Damage at $300 Billion; Concern on Radiation in FoodJapan on Wednesday released the first official estimate of the cost of damages from its triple disaster of earthquake, tsunami and nuclear crisis, and the figure tops $300 billion. The U.S. became the first country to block imports of some foods from Japan over concerns that they might be contaminated...
March 23, 2011
Portugal Austerity Vote May Cause Government CollapseThe minority Socialist government of Portugal may collapse if austerity measures are defeated in a vote later on Wednesday, as is currently expected.
March 23, 2011
State Health Insurance Regulators Tied to Industry, Says WatchdogConsumer Watchdog, the nonpartisan consumer advocacy agency, on Tuesday warned that close ties to the insurance industry through lobbying, contributions, and appointments could affect an upcoming vote on Sunday by the National Association of Insurance Commissioners concerning the rates people pay for health insurance.
March 22, 2011
Mexico Day at NYSE Brings Top Mexican Bankers, CEOs to New YorkMexicans made the case for Mexico on Tuesday at the New York Stock Exchange, with speakers including the country’s ambassador to the U.S. and a top banker.
March 22, 2011
Japan Struggles to Restrain Yen, Considers Extra BudgetsJapan continued to warn investors that it would maintain tight control on the yen’s value, adding that another joint intervention by Tokyo together with other G7 nations would not be out of the question if it became necessary.
March 22, 2011
Gold Up, Oil Dips as World ReactsTuesday saw gold prices continuing to rise on concerns about military action in Libya and the ongoing crisis in Japan, while investors claimed profits on oil in anticipation of slowing intervention by the U.S. and other nations in Libya.
March 22, 2011
Euribor Rates Rise After ECB Interest WarningsOn Tuesday the Euribor, euro-priced bank-to-bank lending rates, rose in the wake of renewed warnings from the European Central Bank that an interest rate hike is in the wings for April.