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December 5, 2012
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  Top Stories 
  • German objections threaten to derail eurozone banking supervisor
      
    Schaeuble/Reuters
    Prospects for a single eurozone banking supervisor under the European Central Bank were cast into doubt Tuesday as German and French finance ministers split on the issue. Germany's Wolfgang Schaeuble objected that "the right of the last decision cannot be left to the ECB Governing Council." Tuesday's eruption comes just a week ahead of a summit of EU leaders and suggests that any move in this direction is likely to be delayed. Financial Times(tiered subscription model) (12/4) , Reuters (12/4) LinkedInFacebookTwitterEmail this Story

  • British business group urges more government action
    The British Chambers of Commerce called on Chancellor of the Exchequer George Osborne to take more action to stimulate investment as the BCC notched down its forecast for 2013 growth to 1% from 1.2%. "We have always been behind the chancellor's aim of reducing the deficit, but this has to be supported with the right conditions that allow businesses to thrive, or we will fail to see the growth the economy so desperately needs," said BCC Director General John Longworth. The BCC report came a day ahead of a meeting of the Bank of England's Monetary Policy Committee. Bloomberg (12/4) LinkedInFacebookTwitterEmail this Story
  • SEC action might cast pall over Chinese listings in U.S.
      
    Reuters
    China-based companies with listings in the U.S. are likely to feel the chilling effects of a U.S. Securities and Exchange Commission action against the Chinese affiliates of five leading accounting firms. The SEC says the affiliates refused to produce documents related to investigations of suspicions of accounting fraud at nine Chinese companies. However, "the biggest loser if [a resolution of the issue isn't negotiated] is the American exchanges because it makes the U.S. a much less attractive place to raise capital," said Paul Gillis, an accounting professor at Peking University's Guanghua School of Management. Caijing Magazine online (12/4) , The Wall Street Journal (12/4) LinkedInFacebookTwitterEmail this Story

  • China's nonmanufacturing sector grows in November
    China's nonmanufacturing sector is looking up, with a purchasing managers' index registering 55.6 for November, up 0.1 points from October and sitting at a three-month high. The improvement parallels a gain in manufacturing and is likely to be reflected in stronger GDP growth in the final quarter or early 2013. China Daily (Beijing) (12/4) LinkedInFacebookTwitterEmail this Story
  • Recovering U.S. banking industry sees best results in 6 years
      
    Gruenberg/Reuters
    With a bigger lift from traditional revenue sources than from set-asides for bad loans, the U.S. banking industry saw its healthiest profits in six years in the third quarter, according to the Federal Deposit Insurance Corp. "Loan growth is becoming more established. Banks continue to clean up and strengthen their balance sheets," said FDIC Chairman Martin Gruenberg. Reuters (12/4) , The Wall Street Journal (12/4) LinkedInFacebookTwitterEmail this Story

  • IMF highlights potential pitfalls in capital-flow liberalization
    Noting considerable risk associated with freer worldwide capital flows, the International Monetary Fund called for carefully planned timing and sequencing to avoid the worst problems. Different countries' circumstances should dictate their relative openness, with various degrees of institutional and financial development among the key factors, the IMF said. Xinhuanet.com (China) (12/4) LinkedInFacebookTwitterEmail this Story
Dark Trading: Is It Hurting Market Quality?
CFA Institute report examines impact of internalization and dark pool trading on market quality.
  Market Activities 
  • INTERNATIONAL MARKETS OVERVIEW
    Little change was registered in shares on both sides of the Atlantic on Tuesday as investors keyed in to tense negotiations in Washington intended to avoid sharp tax increases and spending cuts in the new year. The Stoxx Europe 600 was nearly unchanged, with only a 0.04% gain to 276.24, and the S&P 500 edged down 0.17% to 1,407.05. Here is a continuously updated list of global stock indexes. The Wall Street Journal (12/5) , The Wall Street Journal (12/4) , CNNMoney (12/4) LinkedInFacebookTwitterEmail this Story
The Gold Standard: A Fifty-Year History of the CFA Charter
An exclusive book offer from CFA Institute
Order yours now
  Economic Trends & Outlook 

  • Japan's capital spending rises 2.2% in 3rd quarter
    Japan's recent economic growth figures may be due for upward adjustment as the government reports a 2.2% rise in businesses' capital spending for the third quarter from a year before. However, spending was down 2.5% from the second quarter. The Japan Times (12/4) LinkedInFacebookTwitterEmail this Story
  • Philippine foreign reserves grow as economy thrives
    The Philippines' robust domestic economy is continuing to draw inflows, boosting the central bank's foreign reserves, which are now expected to total $83 billion by the end of the year. In addition, foreign direct investment is expected to reach $1.5 billion by year end, up from an earlier forecast of $1.2 billion. Business World (Philippines) (12/4) LinkedInFacebookTwitterEmail this Story
  Capital Markets & Financial Products 

  Industry & Regulatory Update 
  • Fidelity's FundsNetwork is reintroduced in Hong Kong, Taiwan
    Fidelity Worldwide Investment is reintroducing its FundsNetwork, targeting an affluent audience in Hong Kong and Taiwan. In-house and third-party funds will be on offer in the relaunch, which Fidelity says is intended to address investor anxiety and respond to developments in distribution technology and on the regulatory front. AsianInvestor.net (12/4) LinkedInFacebookTwitterEmail this Story
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