Economy & Markets
The important economic and stock market news that advisors need to know.
Euro Zone Solution ‘Technically and Politically Beyond Reach’: Fitch
By Marlene Y. SatterFitch Ratings on Friday advocated deeper involvement by the European Central Bank, something that Germany has been fighting against.
December 16, 2011
SEC to Get $136M Increase Under New Spending Bill for 2012Bipartisan deal to avert government shutdown includes $1.3 billion in funding for the SEC in 2012, but $25 million cut from Dodd-Frank reserve fund; extension of payroll tax cut still up in the air.
December 16, 2011
Italian Prime Minister Snipes at MerkelItalian Prime Minister Mario Monti warned European policymakers against dividing the region in their pursuit of a solution to the debt crisis.
December 16, 2011
S&P, Fitch Cut Ratings of 17 Banks in U.S., EuropeS&P clips 10 in Spain, Fitch hits BofA and Goldman.
December 16, 2011
Deutsche Bank Selling Chunk of Asset Management BusinessThe decision to sell was made in the wake of a strategic review of the business that was spurred by changing conditions within the industry that included regulatory reforms.
December 15, 2011
France Derides Ratings Agencies, BritainBank of France Governor Christian Noyer struck out at ratings agencies, calling them 'incomprehensible and irrational,' and also slammed Britain as more deeply mired in financial woes than France.
December 15, 2011
Fitch Downgrades 5 Big European BanksFitch's downgrades came in the face of the ongoing debt crisis in Europe, as well as problems facing the banking sector.
December 15, 2011
European Recession Likely: Ernst & Young, ECB President DraghiE&Y also says euro breakup still possible, despite austerity measures being taken, but flat growth seen in European GDP in 2012