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January 8, 2013
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  Top Stories 
  • New Japanese government is reported ready to launch big spending
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    Abe/Reuters
    About ¥12 trillion in public spending to jump-start the Japanese economy is envisioned by the new government through the end of the current fiscal year, according to media reports. A little less than half that amount, it was reported, would be funneled into public works. Separately, on the currency front, Japanese executives who have been calling for a weaker yen are now cautioning the government against going too far. Bloomberg Businessweek (1/7) , The Wall Street Journal (1/7) LinkedInFacebookTwitterEmail this Story

  • U.S. hiring index climbs for 3rd month in December
    Another encouraging sign for U.S. employment emerged with the Conference Board's Employment Trends Index rising in December for the third straight month, up 0.8%. The index, which points to short-term hiring trends, is encouraging, but "if economic activity continues to expand slowly in the first half of 2013, it would be difficult for employers to maintain the current rate of job growth," commented Gad Levanon, director of macroeconomic research at the Conference Board. Bloomberg Businessweek (1/7) LinkedInFacebookTwitterEmail this Story
  • Prolonged 8%-plus growth is seen for China, but only with reforms
    The right reforms to spread wealth and tackle corruption can lock in 8%-plus growth for China over the next 20 years, former World Bank economist Lin Yifu said at a New York Stock Exchange conference. Separately, Tsinghua University's Center for China in the World Economy predicted China would achieve 8.1% growth this year, up from an estimated 7.8% in 2012. Bloomberg (1/7) , China Daily (Beijing) (1/7) LinkedInFacebookTwitterEmail this Story
  • U.K. companies brighten on economy, but doubts remain
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    Reuters
    Gloom is beginning to lift a bit over financial officers at major U.K. companies, with fewer now expecting the nation's economy will sink into a triple-dip recession, according to a Deloitte survey. "Confidence has returned, but perceptions of economic and financial uncertainty remain high and the greatest worries for CFOs are still the weakness of the euro-area and U.K. economies," said Ian Stewart, Deloitte's chief U.K. economist. Bloomberg Businessweek (1/6) LinkedInFacebookTwitterEmail this Story

  • U.S. lenders to pay $8.5 billion to end foreclosure reviews
    An $8.5 billion penalty has been assessed against the 10 largest U.S. home mortgage servicers in a deal that will end reviews of individual foreclosure cases. The settlement, however, drew some criticism. "If the reviews had been done right the first time, banks would have been on the hook to pay far more to homeowners, even though the planned scheme for recompense fell far short of full compensation," said Alys Cohen, staff attorney for the National Consumer Law Center. Bloomberg (1/8) LinkedInFacebookTwitterEmail this Story
  • Developing world to outpace advanced nations this year
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    Reuters
    The total output of developing countries is likely to be greater than that of the developed nations, as many in the industrialized world continue to struggle through austerity and stagnation, the International Monetary Fund projects. The gap between the respective GDPs is expected to grow from $1.4 trillion this year to $10 trillion in four years. The Korea Herald (Seoul) (1/7) LinkedInFacebookTwitterEmail this Story

  • Global banks' reprieve on liquidity buffers could prove costly
    The Basel Committee's decision Sunday to give global banks an additional four years, until 2019, to meet liquidity requirements could prove costly nonetheless, some analysts say. Banks will have to reserve more capital as a liquidity buffer with riskier assets such as bonds backed by home loans. Even so, "it will be the taxpayers picking up the tab when a wrong-way bet by a 'too big to fail' bank turns sour," commented Cornelius Hurley, a director at Boston University's center for finance and former counsel to the U.S. Federal Reserve. Reuters (1/7) LinkedInFacebookTwitterEmail this Story
Live broadcast from the India Investment Conference
10 January 2013, 8:00 pm PST. Convert time zone here.

Investing in the New Financial Order
Mr. Roger Urwin
Global Head of Investment Content, Towers Watson
Topics: New normal, new practices, and new "isms" in the future of finance and the financial ecosystem. Learn more.
  Market Activities 
  • INTERNATIONAL MARKETS OVERVIEW
    European stocks eased Monday despite gains in banking shares due to rescheduled Basel rules, and U.S. stocks retreated in anticipation of corporate earnings reports. The Stoxx Europe 600 declined 0.42% to 286.63, and the S&P 500 ended the day down 0.31% to 1,461.89. Here is a continuously updated list of global stock indexes. The Wall Street Journal (1/8) , The Wall Street Journal (1/7) , CNNMoney (1/7) LinkedInFacebookTwitterEmail this Story
  • Japanese shares fall on profit-taking; other markets slightly lower
    Profit-taking after a long rally in Japan knocked down shares there Monday while other Asian markets ended the day with fractional declines. The Nikkei slid 0.83% to 10,599.01, the Hang Seng was virtually unchanged at 23,329.75, the Kospi was off 0.03% at 2,011.25, and the S&P/ASX edged down 0.14% to 4,717.30. Bloomberg (1/7) LinkedInFacebookTwitterEmail this Story
Live Webinar
Meeting the Global Challenge of Funding Retirement: A Case Study of Financial Engineering in the Design and Implementation of a "Next-Generation" Solution
Featuring Nobel laureate Robert C. Merton
Thursday, 10 January 2013
9:00 a.m. GMT (London)
5:00 p.m. HKT (Hong Kong)
  Economic Trends & Outlook 
  • As won rises, foreign-exchange reform is urged in South Korea
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    Park/Reuters
    The won's appreciation against the U.S. dollar poses a danger not only to South Korea's export-driven economy but also to its financial stability, said Shin Hyun-song, Hughes-Rogers professor of economics at Princeton University. Shin called for fundamental changes in Korea's foreign-exchange system, something the incoming government of President-elect Park Geun-hye is reported to be considering. MK.co.kr (South Korea) (1/7) , MK.co.kr (South Korea) (1/7) LinkedInFacebookTwitterEmail this Story


  Capital Markets & Financial Products 
  • Bond issuance rose 2.3% last year in South Korea
    Robust credit ratings in the midst of a teetering global economy helped boost South Korea's bond issuance last year. The total value of bonds from the government, the central bank and companies came to 582.7 trillion won, up 2.3% from 2011, according to the Korea Financial Investment Association. Yonhap News Agency (South Korea) (1/7) LinkedInFacebookTwitterEmail this Story
  Industry & Regulatory Update 
  • Private equity firm to sell off last China Pacific shares
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    Reuters
    The U.S.-based private equity firm Carlyle Group reportedly hopes to sell the rest of its stake in China Pacific Insurance Group for $793 million. The sale of 203 million shares would come after the sale last summer of 221 million. Bloomberg (1/7) LinkedInFacebookTwitterEmail this Story

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