Economy

Morning roundup: China lowers lending rate; Goldman names fewer partners

We’re committed to keeping you and your clients up-to-date with global industry news. Every morning, we offer articles from around the web. Here are some selections: China lowers benchmark lending rate China has cut its benchmark lending rate for the first time in nearly four years, in an effort to prevent further economic slowdown. The […]

By Staff |June 7, 2012

2 min read

Canada’s fortunes tied to China’s

Canada is a resource-rich nation, and such stocks make up about half the S&P/TSX Index. Yet “resources are only really meant to be 5%-to-10% of your portfolio,” says Craig Porter, a fund manager at Front Street Capital.

By Martha Porado |June 7, 2012

2 min read

Republicans vote against equal pay

Presidential election years are touchy things. Back in 1992 Alan Greenspan aggressively pushed down interest rates in an attempt to save his friend George H.W. Bush from the recession triggered by the Gulf War and decreases in military spending spurred by the fall of the Soviet Union. It didn’t work, but the Fed was accused […]

By Wire services |June 6, 2012

1 min read

JP Morgan Chase to face Congress

JPMorgan Chase is set to testify before Congress today regarding the major bank’s multibillion-dollar trading blunder, and its effect on the future of trading regulation on Wall Street. The Office of the Comptroller of the Currency is expected to face scrutiny over its poor oversight of the bank unit responsible for the loss, with top […]

By Staff |June 6, 2012

1 min read