How will Obama's re-election affect the finance industry?

 

The whole of the US waited with baited breath to hear the results of the election, perhaps none more so than financial sector workers. The election results have a dramatic effect on the markets, both immediately and long term. Promises made by government affect possible future performance of different market sectors. The news of Obama’s re-election potentially means many different things to different sectors of the market. The financial industry will be affected not only by changes to its own regulations but also by stock and share price fluctuations due to the addition or withdrawal of government support.

The finance industry

Barack Obama has said that he wishes to more strictly implement financial reforms in the Dodd-Frank Act than before, which will impact on insurers and investment banks which may have been getting away with more than they should. The profits of private equity firms may find their profits plummet as currently favourable tax policies for dividends and capital gains are likely to change. Traders dumped stocks in banks as they realised that Obama’s promised regulatory changes would prove costly to implement. The Dow-Jones industrial average plummeted by 369 points within the first two hours of trading on Wednesday, around 2.8%.

Healthcare

 

The phased implementation of Obama’s Affordable Care Act will benefit millions of US citizens. It has also already had an effect on the financial markets. Following the election results, on Wednesday hospital share prices rose across the board. Healthcare stocks overall traded around 1.4% down but the majority of the loss was in insurers’ share prices. Community Health Systems share prices rose by 6%, Bloomberg Industries hospital stock by 6.1% and HCA and Tenet Healthcare prices went up a huge 9.5% over the course of just that one day.

 

Energy/chemical companies

While renewable energy companies will be well backed by the Democratic government, other power suppliers saw stock prices plummet as traders dumped stock following the election. Obama’s promise to bring in more strict regulations to the energy industry as well as finance saw stock prices fall as everyone scrambled to rid themselves of burdensome stock in a hurry. The Obama cabinet are unlikely to invest in coal and it looks likely that the US coal industry will become more or less obsolete in a very short space of time. Obama is extremely keen to replace fossil fuels with renewable energy sources as widely as possible.

Attached Images:

•  License: Creative Commons image source 
•  License: Creative Commons image source 
•  License: Creative Commons image source 

This post was written on behalf of www.schemeserve.com – who have extensive knowledge about Lloyds insurance software and other financial services.
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Guest post: The most dangerous jobs in the world

Nine times out of ten, a personal injury claim will stem from your everyday workplace. Offices and businesses are often dangerous places if health and safety procedures aren’t strictly adhered to, but you can count yourself lucky that you don’t have to clock in and out of some of the more dangerous jobs in the world. Below are some of the jobs with the highest injury rates reported across the globe.

Ore and Mineral Miners
As we’ve seen in Cuba and most recently in Japan, miners are putting themselves at risk every time they go down the fateful elevator shaft. Although the extreme cases we’ve seen of miners getting trapped for days underground are rarethey are more common injuries that outweigh slips and trips in the office. Technology and science has pushed mining forward in terms of health and safety, but working for long periods in unstable conditions around explosives and dangerous gases always comes with an inherent risk of serious, and not uncommonly fatal, wounding.

Emergency Services
Those who dedicate themselves to helping each other in the service of Police, Fire, Ambulance and Coast Guard are risking their lives on a daily basis. It’s hard to say who puts themselves in the most danger. Fire fighters will battle deadly blazes and expose themselves to a myriad of harmful gases; police will be dealing with armed criminals and high speed chases, whilst both the paramedics and coast guard will be put in high pressure situations which can easily escalate out of control. It takes a special type of person to risk their own personal safety for people they’ve never met before.

Security Guards
Although you’ll find far less deaths in this line of work than in the previous two, you’d be likely to find more injuries. The very nature of a security guard is to put his or herself in the line of danger, whether it’s protecting premises from burglars and vandals or making sure that trouble makers aren’t allowed into a venue. Either way, they’re subjecting themselves to a lot of human dangers which will often manifest itself in anger and violence. Those with specialist roles like the protection of politicians and world leaders will literally be putting themselves in the line of fire.

Byline: This article has been written by Thompsons Scotland, accident claim solicitors & injury lawyers who offer specialist legal advice for injury compensation claims.