Economy & Markets
The important economic and stock market news that advisors need to know.
Greece Launches Bond Swap
By Marlene Y. SatterGreece on Friday took the next step in a second bailout package after Parliament passed a law Thursday that requires all its bondholders to accept losses once a certain percentage of creditors have agreed.
February 24, 2012
$2.6 Billion in Losses Prompts Closing of Japanese Advisory FirmAIJ Investment Advisors was temporarily shut down by Japanese regulators on Friday over fears that it may have concealed substantial losses in the $2.6 billion it manages, mostly for the pension plans of small- and medium-size corporations.
February 24, 2012
AIG Earnings on the RiseAmerican International Group earned profits in both its fourth quarter and for the entire year, and showed strong growth in its group retirement products and individual variable annuities.
February 24, 2012
AIG Earnings on the RiseAmerican International Group earned profits in both its fourth quarter and for the entire year, and showed strong growth in its group retirement products and individual variable annuities.
February 24, 2012
PIMCO’s El-Erian: ‘No More IMF Aid to Europe’Although Mohamed El-Erian had long advocated for aid to troubled Europe (with an obvious interest in mind), he wants strong strings attached to any lending, especially when it comes to the International Monetary Fund.
February 24, 2012
Debate of the Century (The Hip-Hop Version)An economic debate taking the internet by storm counters the insights presented by a speaker at this year's IMCA conference. Who's right and who's wrong? The fate of the economy hangs in the balance!
February 23, 2012
U.K. Wealth Tax Brought Less Revenue Than Before Tax HikeAdvocates for lower taxes are sure to take the recent poor revenue results in the U.K., which last year raised its top rate on high income earners from 40% to 50%, as a demonstration of the ineffectiveness of a tax-the-rich policy.
February 23, 2012
11 Predictions for 2012 Election by UBS: The IssuesUBS Wealth Management recently released its first in a series of five Election Watch 2012 reports designed to guide investors through the critical issues and developments of this pivotal year for the political landscape.