Keeping Track Of The Economy: 10 Stories You Need To Read Today
Here are 10 economy stories you need to read today.
1. US stocks are set to rise for the fourth consecutive week as investors reassess the impact of the European Central Bank's latest stimulus measures and the health of the US economy. [WSJ]
2. The big ratings firms are rising too—even as Moody's (MCO) pays $130M to CalPERS to settle its financial crisis case. [Fortune]
3. Deutsche Bank (DB) just slashed its bonus pool by 17% ($2.7B) for 2015 as Wall Street revenues fall amidst financial volatility. [BI]
4. Meanwhile, a private equity giant gets an extension to liquidate its remaining holdings in a $7.8B boom-era buyout fund. [WSJ]
5. In more global news, Chinese shipping majors place a $2.5B order for 30 giant Valemax vessels. [WSJ]
6. The European Central Bank cut all its main interest rates in an aggressive push to boost inflation and economic growth. [LAT]
7. IEA says oil prices "may have bottomed," as output in the US and other non-OPEC producers falls quickly. [Fortune]
8. Moving on to the hedge fund side of things, a Manhattan court says David Ganek's suit over an FBI raid may proceed. [Bloomberg]
9. More hedge fund news: Bridgewater Associates just hired former Apple senior exec Jon Rubinstein as co-CEO. [NYT]
10. Ending on a golden note, gold prices dipped in a corrective pullback after overnight gains pushed prices to a 13-month high. [Forbes]
