Economy & Markets
The important economic and stock market news that advisors need to know.
Greece Urged to Walk Away From Debt
By Marlene Y. SatterMario Blejer, who managed Argentinas central bank after the country defaulted on its sovereign debt, said Tuesday that Greece should also walk away from its bills.He said it was the only way for Greece to stop its economy from deteriorating further.
September 14, 2011
What’s Behind the U.S. Suing Big Banks Over Mortgage-Backed Securities?More bank stock declines and less lending could be in store as financial institutions face another massive round of lawsuits. The Federal Housing Finance Agency sued 17 banks on Sept. 2, alleging that the financial institutions committed securities violations in the lead-up to the recent financial crisis.
September 13, 2011
CBO Chief Warns Deficit Committee: Tax Policy on Road to RuinCBO Director Douglas Elmendorf testified before the congressional super committee on deficit reduction, saying the economy will not be able to sustain its current level of spending with the tax cuts now in place as the population ages and health-care costs grow.
September 13, 2011
PIMCO’s Kashkari: Buy Equities on Dividends and EarningsNeel Kashkari, the new head of global equities for PIMCO, said investors should turn to equities as an attractive asset class, and three factors made the class a winner: multiples, earnings, and dividends.
September 13, 2011
Women Hit Harder by Public Sector Job LossesThe public sector has shed 581,000 jobs since December 2008, and women account for 81% of those who lost their positions, according to a new analysis released Friday by the Institute for Womens Policy Research.
September 13, 2011
Greece Teeters as Default Worries GrowThe odds of Greece defaulting on its sovereign debt within the next five years stood at 98% on Tuesday, as additional measures taken by its government failed to reassure investors and the cost of insuring the obligations climbed again.
September 13, 2011
China in Talks With Italy as LenderAs Greece nears default and Italy struggles to keep from losing control over its own debt problems, the latter has been engaged in talks with China over the possibility of asset sales to the Asian nation.
September 12, 2011
Top 30 Richest Social Media EntrepreneursIt comes as little surprise that social media entrepreneurs are riding high these days. The global industry is currently worth $215 billion, and the brains behind the likes of Facebook, Groupon, Baidu and LinkedIn are amassing Croesus-like personal fortunes.