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- World's Most Ethical Companies Honored - 24 June 2010
- Market Advance Likely to Continue in Week Ahead - 21 June 2010
- FINRA – Protecting and Educating Investors - 17 June 2010
- Financial Reform, BP Remain Hot Topics on Wall Street - 14 June 2010
- Nervous Market Responds to BP Dividend Cut - 10 June 2010
- Euro Strain Impacts US Markets - 7 June 2010
- FCIC Probes CRA Role in Financial Crisis - 3 June 2010
In a world where corruption seems to have permeated society on many levels, a growing number of companies are recognizing the value of establishing solid principles of business ethics by which to conduct their day-to-day affairs. Not only does this ensure that they never run into trouble with authorities, but very often sound business ethics and transparency can attract investors and consumers alike. In recognition of companies that have not only set sound business ethics down on paper, but gone the extra mile to reach their goals, Ethisphere has selected 100 companies to receive the honor of being named as the "World's Most Ethical Companies" for 2010.
Looking to the week ahead, investors are no doubt hopeful that the advances over the past two weeks will continue. However, more cautious, some may say pessimistic, Wall Street players warn that the market correction experienced recently may not yet be over. Bearing in mind that this recent stock recovery appears to have been driven primarily by technical and trading activity, rather than addressing and correcting underlying issues that had been a catalyst to the early-summer sell off in the first place, analysts have noted that another market dip is very likely on the cards, but not necessarily in the immediate future.
FINRA – Financial Industry Regulatory Authority, Inc. – is contracted by brokerage firms and trading markets to perform the function of market regulation in the United States, with the aim of maintaining market integrity and protecting investors by means of efficient regulation, ensuring compliance and technology-based services. It is a common misconception that FINRA is a government entity, when in fact it is a private corporation. It is the largest independent regulator for all securities conducting business in the US, with close to 4,700 brokerage firms, approximately 167,000 branch offices and roughly 635,000 registered securities representatives under its wing. Major exchanges contracting FINRA to oversee market regulation include the American Stock Exchange, the NASDAQ Stock Market, the Chicago Climate Exchange and the International Securities Exchange.
As a new week starts, with the month of June already half-way through, analysts believe that US markets will face some tough challenges as investors remain cautious about the state of the global economy and its spin-off effect on US markets. On the home front, a number of economic reports are due through the week, and investors are mindful of the fact that the end of the second quarter of 2010 is fast approaching. Also under consideration, is the appeal by President Barack Obama to congressional leaders to approve an $80 billion proposal for extended unemployment benefits and tax breaks, as well as facilitating easier access to credit for small businesses. The letter from the President to the leaders of the House and Senate also reportedly sought support for a proposal to assist state and local government departments, thereby preventing layoffs and resultant service reductions. It is anticipated that these measures, if approved, will encourage consumer spending, which is a major driving force behind economic recovery.
Following the pattern of the previous two days, Wall Street experienced a late in the day decline on Wednesday with the Dow Jones industrial average falling 40.73 points, the Standard & Poor's 500 shedding 6.35 points and the Nasdaq Composite Index slipping 11.72 points, ending the day at 9899.25 points, 1055.65 points and 2158.85 points respectively. A major concern for investors, which is believed to have been the primary cause for Wednesday's dismal market performance with energy shares dropping and dragging other sectors down, was the likelihood of BP cutting its dividend in order to fund the cleanup of the oil spill disaster wreaking havoc in the Gulf of Mexico and beyond. There has been speculation on Wall Street that BP’s circumstances are so dire that they may take the route of seeking bankruptcy protection.
In the not too distant past the euro was being hailed as the "new dollar" as it continued to gain ground as the currency of choice on international markets. However, with the economic turmoil in Europe, most notably that of Greece, Spain and Portugal, it is becoming apparent that a common currency for the diverse nations of Europe may not have been such a great idea after all. This comes as no surprise to some analysts who, back in the nineties, made known their viewpoints regarding the unlikelihood of the Euro succeeding. As Europe was gearing up for the launch of the Euro in 1999, renowned American economist Milton Friedman (1912-2006) reportedly declared that he did not believe that the Euro Zone would last more than ten years – a position that he maintained right up to his death in 2006 and with which many agreed.
While a number of indicators suggest that the US economy is on the road to recovery, albeit a long and rocky road, the probe into what caused the financial crisis in the fist place continues. Recently it was suggested that credit rating agencies such as Moody's, Fitch and S&P, may be wielding too much power as Greece's credit was cut to junk status, and both Spain and Portugal were downgraded, with a negative impact on international markets. Relating to the global financial crisis, it has been suggested that these same credit rating agencies gave troubled banks misleadingly high ratings, while at the same time failing to act promptly to warn of the risks posed by bonds and other securities that were tied to subprime mortgages.
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- Thursday 15 July 2010 - News - Wall Street Focus on Second Quarter Results
- Monday 12 July 2010 - News - IMF Aims to Restore Financial Market Confidence
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- Monday 28 June 2010 - News

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