Career News 24/7: Reuters Money: Analysis: Euro woes tilt financial power in Asia's favor

Monday, August 20, 2012

Reuters Money: Analysis: Euro woes tilt financial power in Asia's favor

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08/20/2012

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Analysis: Euro woes tilt financial power in Asia's favor

LONDON (Reuters) - As European banks retrench to recover from the global financial meltdown, they are finding ready buyers in Asia for everything from loans to entire insurance and broking operations.

Column: Little impact on seniors if dividend taxes jump

CHICAGO (Reuters) - Washington's fiscal cliff offers a tax hike for just about everyone to hate. If Democrats and Republicans can't strike a deal on an extension of the Bush-era tax cuts by the end of the year, tax rates on income, capital gains, dividends and estates all will jump.

Investors take profits on dim Fed outlook : EPFR

NEW YORK (Reuters) - It looks like the summer doldrums may have hit world markets as investors put less money into bond funds than they have been doing and fears over problems in Europe ebbed some, according to data from EPFR Global.

U.S. consumer agency proposes new rules for mortgage points, fees

(Reuters) - The U.S. consumer protection agency on Friday proposed new rules for fees often attached to mortgages, as well as new restrictions on mortgage loan originators, in an effort to help consumers compare loan options.

U.S. SEC says shuts ZeekRewards.com $600 million Ponzi scheme

(Reuters) - The U.S. Securities and Exchange Commission said it shut down a $600 million online Ponzi scheme on the verge of collapse and won a court ordered emergency asset freeze to protect some of the more than 1 million investors it had attracted.

Bondholders, insurers challenge San Bernardino bankruptcy

(Reuters) - Bondholders and bond insurers are challenging the eligibility of San Bernardino, California, to file for bankruptcy protection, claiming the city provided no financial information to its creditors.

S&P cuts Fresno, California credit rating three notches

(Reuters) - Standard & Poor's Ratings Services downgraded Fresno, California's issuer credit rating from A to BBB on Friday, saying the city's general fund has been persistently imbalanced despite cuts to its workforce and some revenue improvement.

Data points to lackluster economic growth

WASHINGTON (Reuters) - A trend measure of Americans signing up for new jobless benefits fell close to a four-year low last week, but weakness in a regional factory gauge showed U.S. recovery still faces an uphill climb.

Risks of California muni bankruptcies rising: Moody's

(Reuters) - California bankruptcies will likely rise, Moody's Investors Service said on Friday, saying that it is considering credit rating downgrades as financial stress on cities and other localities rise, encouraging lawmakers to use bankruptcy as a tool to win bondholder concessions.

Illinois fails to act on public pensions in special session

SPRINGFIELD, Illinois (Reuters) - The Illinois legislature failed on Friday to take any action to fix the state's woefully underfunded public retirement system because of fierce opposition from unions and concern about the response of voters in the November elections.