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U.S. Economy Grew 2.9% in 3rd Quarter, Picking Up the Pace

Boosted by solid consumer spending and improving international trade, the expansion of the U.S. economy rose to 2.9% in the third quarter, the Commerce Department said.  Nelson Schwarts reports that economists said the biggest quarterly gain in two years will probably be enough to persuade the Federal Reserve to raise interest rates in December. To read the full article in The New York Times, click: U.S. Ec ...

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Big Banks are Fighting Robo-Advisors Head on

Wall Street Starts Responding to Robo-Adviser Challenge Big U.S. banks have taken their time figuring out how to deal with robo-advisers, but they're starting to respond.  Some Wall Street banks are rolling out online advisory services, while others are acquiring them or augmenting existing internet platforms.  Jon Marino, Wall Street reporter, explains. To read the full article in CNBC, click: Big Banks ar ...

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It’s Not Just About China: Company Profits to Drop—Again

Earnings Season Likely to Confirm U.S. Profit Recession Major U.S. companies stand a good chance of reporting fourth-quarter results that show earnings have fallen two quarters in a row, marking a recession.  Forecasts call for a 4.2% decline in earnings and a 3.2% decrease in revenue for companies in the Standard & Poor's 500 index.  Bernard Condon, AP business writer, discusses the issues and what to ...

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America’s Wealthiest People: Who are they?

Who Are America’s Wealthiest People? Small- and medium-sized businesses are the engines that drive the American economy. An IRS study of everyone who died with a net worth of at least $600,000 (and thus was required to file an estate tax return) showed America’s wealthiest citizens all have one thing in common: they all held significant blocks of stock in closely held private companies.  In a nutshell, the ...

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