The Wealth Effect Might Be Shrinking
The Dow keeps hitting all-time highs and home prices are rising. But many Americans do not feel any richer. That could be bad news for the economy. “Consumers may be skeptical about their wealth,” said Mark Zandi, chief economist at Moody’s Analytics.
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Oil up for 5th Day as Traders Await U.S. Supply Data
Oil prices rose slightly for a fifth straight session Wednesday despite a forecast for weaker global demand growth and expectations of rising U.S. crude stocks.By early afternoon in Europe, benchmark oil …
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Coal to Gas Moves Are Generating Economic Waves
Shifting from coal to gas hasn’t triggered the financial tailspin about which many utilities had warned. But it has created an economic wave, which is fostering the next-generation of energy jobs while also helping to clear the air.
http://www.forbes.com/sites/kensilverstein/2013/03/13/coal-to-gas-moves-are-generating-economic-waves/
UBS CEO says no plans to sell U.S. wealth management arm
ZURICH (Reuters) – UBS has no plans to sell its U.S.-based wealth management arm, the former Paine Webber brokerage, Chief Executive Sergio Ermotti said on Wednesday.
http://feeds.reuters.com/~r/reuters/businessNews/~3/cdcoaSqS8fc/us-ubs-us-idUSBRE92C0EP20130313