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...ETFs in the U.S. market shot up to 934 in 2009 from 154 in 2004, according to Larry Petrone, director of research at Financial Research Corp. Over that time, ETF assets under management have more than tripled, to $742 billion. That's still far short of the $7.14 trillion in assets held by mutual funds, but the ETF growth rate is fast closing that gap, with new products covering every subsector of the markets, from bank stocks to silver to Vietnam's public companies. (See pictures of TIME's Wall Street covers...
...Still, the opportunity that the agreement opens up for Southeast Asia is huge. According to HSBC, the China-ASEAN free-trade area will encompass 1.9 billion people and a combined GDP of $6 trillion. To capitalize on this vast market, economists advise Southeast Asian companies to specialize in niche goods and services that China cannot duplicate - and to do it fast. "Given the shifting nature of China's comparative advantage, Asian countries may best re-orientate their economies towards sectors that cannot be easily replicated by China," wrote Kit Wei Zheng, a Singapore-based economist with Citigroup...
...Barack Obama's Inauguration was an ominous sign for Democrats for the midterm elections ahead and a potentially crippling blow to Obama's entire agenda. Brown ran explicitly on a promise to be the "41st Senator," who would give the Republicans the power to block what he called "the trillion-dollar health care bill that is being forced on the American people," one that will "raise taxes, hurt Medicare, destroy jobs and run our nation deeper into debt...
...covered, they go to a hospital - why would we take that plan and then [accept] a one-size-fits-all plan where the Federal Government is going to take and potentially hurt jobs, tax medical devices? We're talking about 220,000 jobs potentially being affected, cutting half a trillion from Medicare, affecting Tricare for veterans, having potentially longer lines in competing plans and subsidizing Nebraska and other types of situations. (Read "Does Brown's Senate Win Mean the End of Health Reform...
Months of speculation came to an end on Tuesday afternoon as Japan Airlines (JAL), the country's 59-year-old flagship carrier that once symbolized the strength of Japan Inc., filed for bankruptcy with two of its subsidiaries. Weighted by debts estimated at $25.6 billion (2.3 trillion yen), Japan Airlines Corp., Japan Airlines International and JAL Capital made history today as what is perhaps Japan's largest nonfinancial corporate failure. With a long record of unprofitable earnings, the airline has taken a hit from weak travel demand after SARS and H1N1, fuel surcharges and the global recession...