Economy & Markets
The important economic and stock market news that advisors need to know.
Moody’s Downgrades Spanish Banks
By John SullivanRatings agency acted two weeks after downgrading Spanish government debt.
March 24, 2011
Moody’s Says Britain’s Rating Could Feel Impact of Slower Growth, DeficitBritain unveiled its 2011 budget on Wednesday, showing slower growth and higher inflation, both of which would affect its efforts to rein in debt. On Thursday, Moody’s Investors Service said that the nation’s AAA sovereign debt rating and its stable outlook as well could be in jeopardy.
March 24, 2011
Portugal Government Collapses as Austerity Measures Rejected; EU MeetsAs 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 24, 2011
Merrill in Crisis—Greg Farrell Takes Hard Look at How the Bull Stumbled: VideoGreg Farrell, author of "Crash of the Titans: Greed, Hubris, the Fall of Merrill Lynch, and the Near-Collapse of Bank of America," speaks with Research magazine’s Ken Silber about the pressures and personalities in the high-stakes, crisis-driven merger of Merrill and BofA.
March 23, 2011
Fifth Street Finance UpdateAn interesting article on Seeking Alpha today details Fifth Street Finance’s (FSC) latest earnings outlook. More detailed information on the company…
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.