Economy & Markets
The important economic and stock market news that advisors need to know.
2010 Q4 Earnings: Fiserv Revenue Edges Up, Profit Edges Down
By Danielle AndrusFiserv reported Thursday modest increases in revenue for the fourth quarter and for full-year 2010.
February 02, 2011
SEC Proposes ‘Security-Based Swap Execution Facility’ RulesInstead of trading over-the-counter, as these have, the SEC wants to add ‘transparency, efficiency, and competitiveness’ and oversight.
February 02, 2011
Portugal Borrowing Costs Fall on Treasuries Sale; S&P Cuts Ireland RatingFinancially troubled Portugal raised 1.26 billion euros ($1.74 billion) in a Treasury bill sale Wednesday and its borrowing costs fell as tension over Europe's debt woes continued to ebb, though, Ireland saw its credit rating cut by Standard & Poor's.
February 02, 2011
Accountants Feel Global Recovery Is FalteringA survey by the Association of Chartered Certified Accountants released Wednesday found the number of accountants worldwide who feel the global economic recovery is starting to decline increased in the fourth quarter, doubling from 14% in the third quarter to 28%.
February 02, 2011
Moody’s Downgrades 5 Egyptian Banks; UAE Regulations on Bank FeesAs demonstrations continued in Egypt and the nation’s banks remained closed, Moody’s downgraded five of the nation’s banks Wednesday morning and said they were on review for additional downgrades.
February 02, 2011
2010 Q4 Earnings: Genworth Mortgage Woes Result in Surprise LossIn an unwelcome surprise, Genworth Financial on Wednesday reported a $161 million net loss in the fourth quarter due to problems in its mortgage insurance business, but good news came from long-term care and wealth management.
February 01, 2011
Prosperity through specializationIrwin Cohen, or "Butch" as he is known to friends and family, stands as Exhibit A for prosperity through specialization.
February 01, 2011
The GLWB conundrum for advisors, part 1As 60,000 baby boomers retire each week, financial advisors struggle to indentify which guaranteed retirement income solutions will most effectively address their client's retirement fears.