Economy & Markets
The important economic and stock market news that advisors need to know.
Fitch Slashes Ireland’s Rating; 2 Banks to Offer Restructuring Plans
By Staff WriterFitch Ratings on Thursday dropped Ireland’s credit rating from A+ to BBB+, citing the costs of the banking system restructure and support, as well as ongoing contingent liabilities.
December 08, 2010
Year-End Muni Bond Glut Creates Buying OpportunityYields on municipal debt at levels not reached since May.
December 08, 2010
Ireland Austerity Budget Passes First RoundOn a day that was as cold and dismal as something out of Dickens, Ireland's Parliament voted Tuesday to accept the severe austerity budget presented by Prime Minister Brian Cowen.
December 07, 2010
MetLife Projects Income, Revenue GainsMetropolitan Life Insurance Co. anticipates gains in net income and revenue for the fourth quarter and fiscal year, the company has announced.
December 07, 2010
PIMCO’s Bill Gross: New Normal Has U.S. ‘Living Here in Allentown’PIMCO manager Bill Gross’ “new normal” has found a home — and it’s not the tony Newport Beach environs of the asset manager’s headquarters in California but rather the grim post-industrial Allentown immortalized in the Billy Joel song.
December 07, 2010
Most Promising U.S. Hiring Outlook Since 2008: ManpowerWhile the gains may be small, they’re still gains: U.S. employers, according to a Manpower survey, intend to do some modest hiring in the first quarter of 2011.
December 07, 2010
Bush Tax Cut Deal: Obama Extends Cuts, Unemployment BenefitsPresident Barack Obama said in a speech Monday night that he will go along with Republican demands for an extension of the Bush tax cuts.
December 07, 2010
Euro Zone Ministers Take No Crisis or Budget ActionAfter five hours of talks, euro zone ministers decided to take no new action regarding the debt crisis, despite indications to the contrary earlier Monday.