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November 7, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  • Consumer crusader Warren is elected to U.S. Senate
    Democratic candidate Elizabeth Warren, a Harvard University professor who campaigned as a defender of middle-class families, was elected in Massachusetts to the U.S. Senate, defeating incumbent Scott Brown. "For every family that has been chipped and squeezed and hammered, we're going to fight for a level playing field and we're going to put people back to work," she said at a victory celebration. The Boston Globe/Metro Desk blog (tiered subscription model) (11/7), Forbes (11/6), Bloomberg (11/7) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • With profit down, NYSE trims growth goals for tech business
    NYSE Euronext on Tuesday reported a 42% decrease in its third-quarter profit. As a result, the exchange sped up its pullback from foreign investments and lowered a key growth target for its technology-services line of business. "Although we've made a lot of headway, a large portion of our earnings remain linked to trading," which has been in decline, NYSE CEO Duncan Niederauer said. Financial Times (tiered subscription model) (11/7), The Wall Street Journal (11/6) LinkedInFacebookTwitterEmail this Story
  • Groups worry transaction tax will come to U.S.
    Investment and business groups expressed concern in a letter to Treasury Secretary Timothy Geithner that a European effort to set up a financial-transaction tax will catch on in the U.S. "Now is not the time to experiment with policies that experience tells us will impede growth, fragment markets, increase market volatility, destroy savings and encourage uneconomic tax-motivated decisionmaking," the groups wrote. The Hill/On The Money blog (11/6) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  • N.Y. Democrats gain 2 seats in House
    Nationally, Democrats weren't able to take control of the House of Representatives from Republicans, but Democrats in New York gained two seats in the House. Democratic challenger Dan Maffe defeated Rep. Ann Marie Buerkle, R-N.Y. Sean Patrick Maloney, a former aide to Gov. Eliot Spitzer and President Bill Clinton, successfully ousted Rep. Nan Hayworth, R-N.Y. The New York Times (tiered subscription model) (11/7) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  Financial Products 
  • Global X aims to launch high-dividend ETF
    Global X Funds filed with the Securities and Exchange Commission to introduce an exchange-traded fund that aims to deliver a high dividend with low volatility. The Global X SuperDividend U.S. ETF would be linked to the INDXX SuperDividend U.S. Low Volatility Index. Zacks (11/6), (11/5) LinkedInFacebookTwitterEmail this Story
Success is often just an idea away."
--Frank Tyger,
American cartoonist, columnist and humorist

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