MBIA, the troubled Armonk, N.Y.-based bond insurer, posted a $2.3 billion loss and a write-down of $3.5 billion.
The American Council of Life Insurers has added James Szostek as the director of pensions in the taxes and retirement security department.
The Morgan Stanley Global Long/Short Fund aims to offer an institutional-quality portfolio of long/short equity hedge funds.
The number of U.S. workers filing new claims for unemployment benefits rose in late January to its highest level since October 2005.
Brian Duperreault replaces Michael Cherkasky, who left the New York-based insurance broker in December.
UBS posted a $14 billion write-down that will result in a $12.5 billion fourth-quarter loss.
Claymore Securities has unveiled the Claymore/AlphaShares China Small Cap Index exchange traded fund on Amex.
Daniel Marino, who faced a maximum sentence of 50 years, had sought leniency due to his cooperation with prosecutors.
Self-reporting in areas such as the retention of e-mails “is more of an art than a science,” said the CEO of ING.
This followed a 4.7% increase in the third quarter, bringing average growth in 2007 to 2.2%, compared with 2.9% in 2006.
