In the clash of the two largest U.S. brokerages, Bank of America Merrill Lynch is generating more profit with fewer people than Morgan Stanley Smith Barney LLC.
Leaders of a presidential deficit commission recommend the elimination of all tax breaks for retirement, life insurance and employer-sponsored health care plans in their final report, which was released Wednesday and will be voted on by the full panel Friday morning.
Bill Gross, who runs the world's biggest bond fund at Pacific Investment Management Co., cut holdings of government-related debt and bought more mortgages in September.
A New York man received five years' probation for defrauding his customers of more than $66 million they thought was invested in the foreign-exchange market and instead was spent on art and an Aston Martin car.
The House of Representatives approved on Thursday a bill that would permanently extend Bush administration tax cuts for the middle class but allow rates for wealthier taxpayers to increase.
Elizabeth Warren says that a new consumer protection agency must go big or go home.
The global financial markets are still trying to regain some stable footing following the $116 billion bailout of some of Ireland's largest banks.
Congress won't act directly on a proposal approved by a presidential deficit commission this week, but elements of the plan could become part of legislative proposals in coming months to address huge fiscal imbalances.
If you're curious about how important workplace diversity is to Wall Street, consider the commotion that ensues when it's time to roll out the red carpet and honor the industry's inclusion luminaries.
Preferential tax treatment for retirement programs and insurance products are threatened in a draft proposal from the chairmen of the national deficit commission, according to advocates.
