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October 8, 2012
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  Top Stories 
  • U.S. job picture brightens with plunge in unemployment
    The U.S. unemployment rate plunged to 7.8% in September, the lowest rate in nearly four years. Revised numbers for earlier months also showed stronger hiring patterns than previously reported. "It's a good report. The picture is still not a great one, but it's not so bad given the unusual headwinds that we have been faced with," said Ray Stone, an economist at Stone & McCarthy Research Associates in Princeton, N.J. Reuters (10/5) LinkedInFacebookTwitterEmail this Story
  • U.S. Fed report this week to tell the tale of the economy
    The upbeat tone generated by the U.S. jobs report Friday might not be long-lived. The Federal Reserve's Beige Book report this week on the economy is expected to reflect continued skepticism over the jobs situation, although there is some evidence that consumers are beginning to spend again. MarketWatch (10/7) LinkedInFacebookTwitterEmail this Story
  • U.K. government looks for additional budget reductions
    The U.K. government is determined to find more budget cuts to reach its goal of deficit reduction despite the country's double-dip recession. "I want us to be the party that absolutely levels with the British public and talks very plainly and straightly about what needs to be done because the fact is we have to find those spending reductions," Cameron said. He also said Britain would veto the European Union budget if the EU didn't learn to live within its means. Reuters (10/7) LinkedInFacebookTwitterEmail this Story
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  Market Activities 
  • INTERNATIONAL MARKETS OVERVIEW
    Investors in Europe took heart from a better-than-expected U.S. jobs report Friday, as did the U.S. market before sliding back late in the day as worries returned over the persistent uncertain state of the world economy. The Stoxx Europe 600 advanced 1.02% for the day to end at 274.11, while the S&P 500 was basically unchanged at 1,460.93. The Wall Street Journal (10/8) , Bloomberg Businessweek (10/5) , CNNMoney (10/5) LinkedInFacebookTwitterEmail this Story
  • Positive European words, U.S. data boost Asian shares
    Encouraging U.S. data and reassurances over the euro from the head of the European Central Bank helped elevate shares across Asia on Friday. The Nikkei added 0.44% to 8,863.30, the Hang Seng rose 0.50% to 21,012.38, the Kospi edged up 0.12% to 1,995.17 and the S&P/ASX jumped 0.94% to 4,494.40. Bloomberg Businessweek (10/7) LinkedInFacebookTwitterEmail this Story
  Economic Trends & Outlook 
  • Indian government to seek opposition support for insurance FDI
    India's government is determined to obtain opposition backing for its drive to allow 49% foreign direct investment in the insurance sector. Finance Minister P. Chidambaram said he's sure he can obtain broad support, given the pressing need. "Most insurance companies promoted by public sector banks are in need of massive capital infusion," Chidambaram explained. "When the banks themselves are facing funds crunch for their own capitalization, how can you expect them to pump in funds?" The Hindu (India) (10/6) LinkedInFacebookTwitterEmail this Story
  • China's Golden Week sales grow by a muted 15%
    Retail sales were up 15% in China during the annual extended Golden Week holiday, but that was down from 17.5% growth last year. The lower number is considered another indicator that may point to whether China experiences a gradual economic slowdown or a so-called hard landing. Reuters (10/7) LinkedInFacebookTwitterEmail this Story
  • Floods cause businesses to rethink heavy concentration in Thailand
    The floods that swamped much of Thailand last year and cut supply chains across a range of industries have prompted many companies that concentrated production in Thailand to disperse some of that investment to other countries. "It doesn't mean businesses are not investing in Thailand, but they may not put all of their investment in the country," said Pimonwan Mahujchariyawong, deputy managing director of Kasikorn Research Center, a Thai think tank. The Wall Street Journal (10/5) LinkedInFacebookTwitterEmail this Story
  Capital Markets & Financial Products 
  • China Investment chief: Complexity impedes regulators
    Financial complexity is one problem in trying to regulate financial markets, as reflected in JPMorgan's $5.8 billion trading loss this year, the president of China's sovereign-wealth fund said. "As a former regulator, I think we do need to slow down a little bit instead of rushing up to all those fancy derivatives," Gao Xiqing, president of China Investment Corp., said at a lunch of the Economic Club of New York. Bloomberg (10/5) LinkedInFacebookTwitterEmail this Story
  Industry & Regulatory Update 
  • Myanmar dispels banking rumors, says operations normal
    Myanmar authorities say private banking operations are back to normal in Yangon after rumors surfaced that Kanbawza Bank, one of the country's leading private banks, was in trouble. "The Central Bank takes full responsibility for the private banks. Authority concerned has dealt with the matter," said U Win Thaw, deputy director general of the Central Bank of Myanmar. Xinhuanet.com (China) (10/7) LinkedInFacebookTwitterEmail this Story
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