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31 December 2012
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News on the global financial markets

  Morning Bell 
  Industry News 
  • Euro zone's economic situation starts to look better
    Standing at the brink of a new year, the euro zone is beset by considerably fewer anxieties than it experienced a few months ago, with the prospect for a long future considerably brightened by indications the region is moving forward in a sustainable way. "In 2012, the euro-area leaders finally got the diagnosis right. It wasn't about Greek debt or Irish banks. It was about some very fundamental design flaws that needed to be fixed," said Jacob Funk Kirkegaard, a Peterson Institute for International Economics research fellow in Washington. The New York Times (tiered subscription model) (30 Dec.) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • US accounting group wants to be part of international panel
    The US Financial Accounting Foundation said it has not yet decided whether to change to international rules, but wants to participate in a committee formed to draft international accounting rules. The US standard-setters could be excluded, limiting America's influence over global standards. Reuters (29 Dec.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  • China's central bank sets 2013 goals with a focus on risk
    The People's Bank of China outlined a broad set of goals for the new year, targeting risk, stable growth and rebalancing the economy, all while keeping inflation in check. The central bank's focus on risk is thought to reflect mounting concerns over recent non-bank lending and the possibility of defaults that could upset social stability. Bloomberg (30 Dec.) LinkedInFacebookTwitterEmail this Story
  • China expanding mutual fund field to insurers and brokerages
    In a move to underpin China's equities markets, the China Securities Regulatory Commission plans to let brokerages and the asset management units of insurers establish mutual funds for sale to the public. Requirements will include at least three years of profitability and a minimum of $3.2 billion in assets under management. Bloomberg (30 Dec.) LinkedInFacebookTwitterEmail this Story
  AFME News 
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  Editor's Note 
  • SmartBrief will not publish Tuesday
    In observance of New Year's Day, SmartBrief will not publish Tuesday. Publication will resume Wednesday. Enjoy the holiday! LinkedInFacebookTwitterEmail this Story
If the wind will not serve, take to the oars."
--Latin proverb

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