Morning roundup: Facebook investors naive, Euro jobless rate hits record

By Staff | June 1, 2012 | Last updated on June 1, 2012
2 min read

We’re committed to keeping you and your clients up-to-date with global industry news. Every morning, we offer articles from around the web. Here are some selections:

Euro jobless rate hits record; China slows

Europe’s unemployment rate reached a record 11% in March and April, the highest statistic seen for the 17-member zone since 1995.

As the U.S. mounts pressure on Europe to resolve its financial woes, and Germany’s bond yield turned negative, the chief of the European Central bank is now saying the single currency for the region is unsustainable.

Market watchers also eagerly awaited May’s U.S. jobs report, as it’s seen as a good indication of whether falloffs in March and April are a statistical blip or signs of a worsening economic picture. While there were gains, it’s unsure whether they’re sufficient to quell concerns.

China manufacturing falters

China’s key manufacturing indicator dropped in May, ending a five month gaining streak. Observers expect the government to increase its stimulus, which has thus far been cautions and aimed at infrastructure projects for growing cities.

Recently India has shown signs of slower economic activity ahead.

Facebook investors naïve: Morgan Stanley

James Gorman, chief executive at Morgan Stanley, calls investors expecting immediate gains from their Facebook shares naïve. Many people bought the shares for the wrong reason and under the wrong pretences, he says.

Gorman spoke publicly about Morgan Stanley’s role in the IPO in a recent CNBC television interview; he defended the decision to expand the deal, citing unprecedented retail demand as one of the main reasons for both the share price and volume increase.

Advisors worried about compliance, not clients

Lately, advisors are too concerned about risk and compliance, says Fidelity’s 2012 Executive Forum Poll.

Overall, they’re spending 19% less time on marketing and business development, and 10% less time on client service.

Enjoy your day, The Editors staff


The staff of have been covering news for financial advisors since 1998.