Economy & Markets
The important economic and stock market news that advisors need to know.
Senate Changes to JOBS Act Shot Down, Faces More Debate
By Marlene Y. SatterThe Senate took up debate on the House version of the JOBS act once again Wednesday after an abortive attempt on Tuesday to strengthen consumer protections by amendment failed.
March 21, 2012
U.S. to See Challenges for Top Spot in World BankFinance Minister Ngozi Okonjo-Iweala of Nigeria and former Finance Minister Jose Antonio Ocampo of Colombia are expected to be nominated to head the body by the Friday deadline.
March 21, 2012
Bank of England Split on StimulusMonetary Policy Committee members Adam Posen and David Miles came down in favor of boosting stimulus, while the other seven members opted for a wait-and-see stance.
March 20, 2012
If Demographics Is Destiny, Economy Is Already Declining: Data Guru ShortIf a picture could tell a thousand words, Advisor Perspectives Doug Short, speaking at the RIIAs spring conference, probably hit the trillion mark.
March 20, 2012
Ryan’s GOP Budget Repeals AMT and Health Care Law, Reforms Tax CodeHouse Budget Committee Chairman Paul Ryan, R-Wis., released the House 2013 budget, which would reduce tax brackets from six to two and, like Obama's plan, cut corporate tax rate.
March 20, 2012
Goldman’s O’Neill: Economy Getting Back to ‘Normal’Goldman Sachs Asset Management Chairman Jim ONeill points to breakouts including positive jobs data, the S&P 500s rise above 1,400, a drop in gold prices and good news from the Fed.
March 20, 2012
Froehlich Sees Europe, China Shaking Up Economy—In a Good Way: ASPPA SummitBob Froehlich, executive vice president and chief investment strategist for The Hartford, sees Europe avoiding recession and China resolving its food inflation issues, he said at the 2012 ASPPA 401(k) Summit on Monday.
March 20, 2012
Vatican Embarrassed by Account ClosureThe Vatican suffered a blow to its efforts to have its bank included in the European "white list" of states that comply with international standards against tax fraud and money laundering on Monday when JP Morgan Chase shut the account of the Vatican bank at an Italian branch.