A ban on the short-sale of financial stocks put into effect today by Britain’s Financial Services Authority today was criticized by the U.S. trade group that represents hedge funds.
More than 77% of 1,003 advisers who responded to an <i>InvestmentNews</i> survey over the past 36 hours fear the news coming out of Wall Street is likely to get worse before it gets better.
Housing starts fell 6.2% last month from July to a seasonally adjusted annual rate of 895,000 units. That is 33.1% below the figure reported in August 2007, according to a report that the Department of Commerce released this morning.
MetLife Inc. has some $800 million in exposure to the now-collapsed Lehman Brothers Holdings Inc. and the just-rescued American International Group Inc. and is assessing the recoverability of those investments.
Dekania Corp., a special-purpose acquisition company looking to invest in an insurance business, announced Monday that it was merging with Chicago-based Advanced Equities.
The nation’s oldest money market mutual fund, The Reserve Primary Fund (RPRXX), fell below $1 in net asset value yesterday because of its exposure to debt from Lehman Brothers Holdings Inc.
Morgan Stanley, which saw its stock fall as much 28% at one point on Tuesday after a drop of 13.5% on Monday, rushed out its fiscal third-quarter earnings report after the market closed today, trying to reassure investors that it is standing up to the market turmoil that has felled some top competitors.
An employer provided a worker with a lump-sum payment of approximately $35,000 during the first year of his disability, which he declared as income when he completed his tax return.
Unless you position your value as a retirement rollover resource for your top clients now, you risk losing out on the significant assets these clients hold away from you.
After a weekend of turmoil, shares of American International Group Inc. lost more than half their value in the first hour of trading.
