Investing and Global Finance News

Monthly Archives: March 2012

Business Roundtable Sees Economy Picking Up Momentum

The Business Roundtable Chairman James McNerney

According to a quarterly survey conducted by The Business Roundtable, a group of CEO’s of firms whose combined yearly revenues come to more than $6 trillion, there is a perception of improved movement of the economic recovery, including plans of increased hiring. This improved optimism comes despite fears of a continuing recession in Europe.

The survey examined the economic outlook for the coming six months and was conducted from March 1st through the 19th and based on the answers of 128 member companies. The index, which showed increased optimism for sales, business investment and hiring, proffered a significant improvement in expectations, registering a score of 96.9 points in March’s survey compared to 77.9 points in January, which measured the economy’s outlook the last quarter of 2011.

James McNerney, chairman, president and CEO of The Boeing Company and chairman of The Business Roundtable said that the significant improvement in the survey “is one of the better moves” since the launching of the series in 2002. This quarter’s gain marks the third in a row, boding quite well for the economy.

However McNerney did not dismiss the European factor emphasizing that “Europe is a real worry.” He pointed out that much of the world is in growth mode, with Asian and Middle Eastern economies growing in the upper single digits. Although it is true that their growth has slowed down, including China’s, “China is still at 7.5 to 8.0 percent.”

"While Asia and China are coming down, it's still at a very high growth rate that we need to hire people for to satisfy their demands," McNerney said.

"So, even though quarter-to-quarter it's slowed down a little bit, Asia's still growing and the US is picking up. Europe is the one that has headed to negative territory. We're all concerned."

General Motors Hires Commonwealth to Promote Chevrolet

As any good entrepreneur knows, advertising is key to a successful business. It’s not a surprise, then, that General Motors has hired a new advertising agency for Chevrolet, its largest, most successful automobile brand by sales. The project will be handed over to Commonwealth Advertising, the partnership between Goodby, Silverstein & Partners of Omnicom Group… Continue Reading

Quote of the Day: Bernanke Sends Mixed Message About Unemployment

Federal Reserve Chairman Ben Bernanke said on Monday that the Feds’ stimulation of the economy has indeed helped reduce the amount of unemployed in recent months, but warned that because of the size and duration of the problem there could result lasting damage to the US economy as a whole. “Recent improvements are encouraging,” he… Continue Reading

Jeremy Stretch on the Euro

The debt crisis in Europe has yet to be truly resolved, and the euro has been bobbing up and down in value as the situation changes. This past week, it deterred investors due to an upcoming week of risks such as an additional finance minister summit. Jeremy Stretch of CIBC World Markets said: “If the… Continue Reading

Anticipation of Economic Upturn Dampened by Asset Managers

Though the world seems to sense an economic upbeat, an investor with management of over $25 billion has expressed his skepticism and lingering concerns. According to George Osborne, the Office for Budget Responsibility claims that the UK’s economy is expected to grow throughout 2012’s first quarter. He explained that the OBR expect the British economy… Continue Reading

Top Ten Countries for Startups in 2012

This year’s World Bank Doing Business report has listed the top nine countries for startup businesses. The rankings consider the starting ease and conditions, as well as minimum cost, time and available assets. Rather surprisingly, the U.S. didn’t make the list. These countries did, however: New Zealand, with 1 day to start a business Australia,… Continue Reading

Quote of the Day: New York Fed President William Dudley on Today’s Economy

The Federal Reserve is still debating whether or not to embark on a third phase of quantitative easing, shorthand QE3, said William Dudley New York Fed president, a close confidant of Federal Reserve Chairman Ben Bernanke. Dudley believes that the economy’s recovery is still fragile, despite the recent signs of improvement. If not handled properly… Continue Reading