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01 February 2013
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  Top Stories 
  • Spanish regulator permits short selling again
    The market regulator in Spain says it has ended a short-selling ban, which had been in place since July. The ban aimed to protect stocks and bonds from speculators, who were forcing prices down during the sovereign-debt crisis. Reuters (31 Jan.) LinkedInFacebookTwitterEmail this Story
  • DOJ sues to block $20B merger of major beer-makers
    The Justice Department filed an antitrust lawsuit to block Anheuser-Busch InBev from acquiring the remaining half of Mexican beer-maker Grupo Modelo for $20.1 billion. The U.S. government said the combination would illegally restrict competition. The lawsuit calls into question one of 2012's biggest merger deals and a related deal involving the world's biggest wine company, Constellation Brands. Reuters (31 Jan.), Bloomberg (31 Jan.), St. Louis Post-Dispatch (31 Jan.) LinkedInFacebookTwitterEmail this Story
CAREERS at CFA Institute
Director, Curriculum Projects - All locations
Director, Society Relations, EMEA
Director, Society Relations, Americas
  Reader Survey 
  • Are the fiscal- and monetary-policy initiatives being undertaken by Japan's new government likely to lead the country out of the deflationary and slow-growth environment that has persisted for the past two decades?
    No  62.56%
    Yes  37.44%
  • Poll analysis: "Abenomics" (「アベノミクス」) and the new economic policies of Japanese Prime Minister Shinzō Abe, which feature fiscal and monetary expansion with an explicit 2% inflation target, are hailed by many to be the key to how Japan can show the rest of the world how to get out of prolonged deflationary economic stagnation. Nobel laureate Paul Krugman, known for his support of Keynesian economics, is in the front line of the cheering squad, whereas many others doubt that these policies will change the situation that has persisted for the past two decades. As for readers of the global edition of the CFA Institute Financial NewsBrief, a majority of the 782 respondents (62%) do not believe that Abenomics can change Japan's economic stagnation; only 38% sided with Krugman. The readers of the Asia Pacific NewsBrief appear slightly more optimistic, with 41% siding with Krugman. -- Samuel Lum, CFA, Director, Private Wealth & Capital Markets, CFA Institute, and Alex Flatscher, CFA, Director, Code & Standards, CFA Institute LinkedInFacebookTwitterEmail this Story
  Market Activity 
  • Most Asian-Pacific markets advance in choppy trading
    Most Asian-Pacific markets rose Friday but conflicting data on China's manufacturing sector brought some uncertainty to the financial markets. Japan's Nikkei 225 gained 0.5%. Australia's S&P/ASX 200 rose 0.9%. China's Shanghai Composite increased 1.4%. South Korea's Kospi declined 0.2%. Hong Kong's Hang Seng Index closed almost unchanged. India's Sensex was down 0.6% at midafternoon. The Economic Times (India) (07 Feb.), The Wall Street Journal (01 Feb.) LinkedInFacebookTwitterEmail this Story
CFA Institute: Global Investment Risk Symposium
7-8 March 2013
Westin Washington, D.C. City Center
Washington, District of Columbia, United States
Hosted with CFA Society Washington, D.C.

Register online or use a printable registration form (PDF)
Register by 7 February 2013 and receive a US$200 discount.
  Economics 
  • China's $6.5B investment in U.S. sets record
    Chinese companies' direct investment in the U.S. reached a record $6.5 billion last year, a 17% increase compared with 2011, according to Rhodium Group. The investment level will grow as China moves closer to having the world's biggest economy, analyst Thilo Hanemann said. The Washington Post (31 Jan.) LinkedInFacebookTwitterEmail this Story
  • Initial unemployment claims edge up in U.S.
    First-time jobless claims in the U.S. rose 38,000, to 368,000 in the week that ended Jan. 26, the Labor Department said. Economists anticipated 345,000 initial claims. The four-week rolling average viewed by many economists as giving a more accurate picture of labor market conditions rose only 250. Google/Agence France-Presse (31 Jan.) LinkedInFacebookTwitterEmail this Story
  • Survey: 86% of young investors ready to fire parents' adviser
    Advisory firms need to start hiring young financial advisers to attract and keep the business of Generation X and Y investors, who will have accumulated $28 trillion of personal wealth by 2018, up from $2 trillion in 2011, said Tom Nally, president of TD Ameritrade Institutional. A recent survey showed that, if given the chance, 86% of young investors would fire their parents' financial adviser, he said. Financial-Planning.com (31 Jan.), Financial Advisor online (31 Jan.) LinkedInFacebookTwitterEmail this Story
  • Mixed data indicate industrial recovery in China
    Two indexes tracking industrial activity in China give different indications of how quickly the sector recovered in January. The official purchasing managers' index points to a slower-than-expected rebound in factory output. A private survey by HSBC Holdings suggests manufacturing growth accelerated to a two-year high. Reuters (01 Feb.), Market News International (01 Feb.) LinkedInFacebookTwitterEmail this Story
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  Geopolitical/Regulatory 
  • EU official emphasizes importance of global Basel III adoption
    Michel Barnier, the EU's internal-market commissioner, has reiterated a need for the U.S. and other nations to adopt Basel III rules. The U.S. delayed Basel II and did not pass it into law until years after Europe had introduced it. As it stands, 11 of the Group of 20 countries have introduced Basel III. Reuters (31 Jan.) LinkedInFacebookTwitterEmail this Story
  • Proponents of swaps and futures lock horns at CFTC hearing
    Chicago commodity traders clashed with Wall Street bankers at a Commodity Futures Trading Commission hearing that discussed whether swaps rules disproportionately favor one group over the other. CFTC Chairman Gary Gensler downplayed the dispute. "Approximately eight-ninths of the derivatives marketplace [is] swaps and until recently was unregulated," he said. "Now we bring regulation to both sides; is it not just natural there might be some realignment?" Reuters (31 Jan.), Financial Times (tiered subscription model) (31 Jan.) LinkedInFacebookTwitterEmail this Story
  • FTC chairman is expected to step down
    U.S. Federal Trade Commission Chairman Jon Leibowitz is set to announce his resignation. His departure raises the potential for partisan deadlock until President Barack Obama can get a nominee confirmed by the Senate. With Leibowitz gone, the five-member FTC would have two Democrats and two Republicans. The Washington Post (31 Jan.) LinkedInFacebookTwitterEmail this Story
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