Millionaire Optimism Is Soaring, and 5 More Things You'll Want to Know

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Rich and Happy Man
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Here's a quick rundown from the world of business and economics this morning: the things you need to know, and some you'll just want to know.

• Average Joes may be worried about the economy, but millionaires are suddenly feeling seriously optimistic. The Spectrem Group's Millionaire Confidence Index, which charts the fiscal outlook of the wealthy, has shot up to its highest level since it was launched almost 10 years ago.

• JPMorgan Chase (JPM) is facing so many legal probes, it's throwing in the towel -- sort of. Hoping to defuse all the uncertainty at once (because there's nothing investors hate as much as uncertainly), the banking giant has offered the Justice Department $3 billion to settle a wide range of ongoing investigations, The Wall Street Journal reports.

• Obamacare is looking like a better deal than even the administration first thought. A new report from the White House shows that 95 percent of the people who enroll in the new Obamacare health care exchanges will pay premiums that average 16 percent lower than the government had previously projected.

• Alibaba Group Holding, the Chinese ecommerce giant that is that nation's counterpart to Amazon, will pursue an IPO in the United States after talks to do it in Hong Kong failed.

• European governments are beginning to trim their stakes in the banks they nationalized or partly-purchased to keep them standing during the worst of the financial crisis. But if they follow the Swedish model, those European banks won't fully return to private hands until 2028.

• A German and French researchers have created a solar cell that can convert 44.7 percent of the sunlight it receives into energy. That's a new record for solar energy. A 50 percent efficiency rate is view as the holy grail within the solar world.

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hugh_geenormous

Election day should be the day after tax day.

September 25 2013 at 10:22 PM Report abuse -3 rate up rate down Reply
kolia

Billionaires trive in these United States. The poor, the needy, the sick and helpless have no way out from this econonic malady that wheels and deals this America to bit and pieces. Unles a better system of "egualitiy" is devised for all , this distribution or undistribution is the US will continue, and never,ever stop. The middle class is on the border line of colapse. The underclass, as i call it, will furthewr sink to the bottomless pit. Capitalism and capital managed for and favor the upper class elite, here in the United States, and elsewhere in the four corners of this world. It has always, controlled,managed and manipulated the 98 percent of the american population, and will not stop. so, the widow nad her children cry in the wilderness, and the money changers, will remain in the Temple steps. bluewhitemarble/czmars

September 25 2013 at 3:17 PM Report abuse +1 rate up rate down Reply
Sandy

because the right wing Republicans either could not or would not address the health care crisis, their only hope is that Obamacare will fail. If it succeeds, even a little bit, the whole country will see that the Republicans are incompetent to govern and failed to come up with a workable plan. This fear is what is driving their opposition to it. Thats why they will pull out all the political stops to try to derail it. They will be hysterical for the next few months. If they were true leaders, they would be hoping it succeeds beyond everyone's wildest dreams and helps the country begin to control health care issues.

September 25 2013 at 2:43 PM Report abuse +3 rate up rate down Reply
2 replies to Sandy's comment
betty_brock

Only the unrealistic can believe Obamacare won't be a disaster. Did you ever hear of anything run successfully by the government?

September 25 2013 at 9:08 PM Report abuse -3 rate up rate down Reply
hugh_geenormous

Fear sets in as more and more people.actually find out WTF is in this POS law.

September 25 2013 at 10:21 PM Report abuse -4 rate up rate down Reply
betty_brock

Stop the lies. Obamacare will be a disaster.

September 25 2013 at 2:04 PM Report abuse -4 rate up rate down Reply