Economy & Markets
The important economic and stock market news that advisors need to know.
Barclays Fined Record $470M on Energy Trades
By Marlene Y. SatterBarclays was hit with a record $469.9 million fine by the Federal Energy Regulatory Commission, which also fined four of its former traders for manipulating energy rates in the western U.S. from late 2006 to 2008.
October 31, 2012
House Subcommittee to Release Review of MF Global CollapseThe House Financial Services Subcommittee on Oversight and Investigations said Wednesday that it expects to report the results of its yearlong investigation into the collapse of MF Global in the next few weeks.
October 31, 2012
PIMCO’s El-Erian Warns on Small-Business Hit From Hurricane SandyEl-Erian pinpoints four Frankenstorm outcomessome of them positive, some of them negative, and with one big question mark from Congress.
October 31, 2012
U.S. stocks to open after longest storm outage since 1888The last storm that knocked out the NYSE for two days dropped 21 inches of snow.
October 31, 2012
Anti-EU British Lawmakers Demand EU Budget CutRebels within Prime Minister David Cameron's own party have backed a Tory amendment introduced to make him negotiate a budget cut from the EU.
October 31, 2012
Leadership Change in China Expected to Boost Luxury Goods SalesOnce the political changeover is complete, expectations are that the funds will once again flow freely in acquisition of jewelry, gold bars and other tempting treasures bought as conspicuous business gifts.
October 30, 2012
UBS Reports Q3 Loss; Improves Advisor HeadcountProfits are up for UBS' U.S.-based wealth operations as the number of advisors tops 7,030 and net new money has improved.
October 30, 2012
TD Ameritrade Has 13% Drop in Quarterly Profits, But Boosts Net New AssetsAMTD's profits for the full year fell 8%, totaling $586 million, or EPS of $1.06, versus $638 million a year ago, or EPS of $1.11.