Economy & Markets
The important economic and stock market news that advisors need to know.
UBS Board Pondering Fate of Banking Giant, CEO
By Marlene Y. SatterThe board of UBS met in Singapore on Friday to consider what will be the future of the Swiss giant after trader Kweku Adoboli allegedly lost $2.3 billion in fraudulent activities. The future of its CEO, Oswald Greubel, also hangs in the balance.
September 22, 2011
Winning and Losing States of AmericaThe economic laboratories at work in the 50 states have produced disparate results according to new government data, and experts say the success of states like North Dakota and Utah and poor performance of Michigan and Nevada have national implications.
September 22, 2011
Senate Banking's Shelby Floats Cost-Benefit BillSen. Richard Shelby, R-Ala., ranking GOP member on the Senate Banking Committee, introduced a bill on Thursday that requires financial regulators, like the SEC, to provide rigorous and consistent economic analyses on new rules they propose.
September 22, 2011
Moody’s Downgrades BofA, Wells Fargo & CitigroupMore advisors may feel the necessity to seek independence, as lack of potential government bailouts led to ratings cut.
September 22, 2011
U.S. Government Shutdown Looms AgainIn a surprise outcome on Wednesday, the House of Representatives failed to pass a bill needed to fund the federal government past Sept. 30.
September 22, 2011
'Wealthy' Making $200k+ Would Pay for President’s Jobs ActAre higher taxes on the horizon for your clients?
September 21, 2011
Gap Between Gold and Stocks WideningDivergence in the direction of gold futures and the S&P 500 has reached levels not seen since the Lehman Brothers collapse in 2008, a possible indication that investors are preparing for further market turbulence.
September 21, 2011
Fed Tackles Long-Term Rates to Spur EconomyThe Fed said it would buy $400 billion of longer-term U.S. Treasury securities to put downward pressure on longer-term interest rates and 'help make broader financial conditions more accommodative.'