Former Citigroup Inc. stockbroker Ralph Casbarro was fined $500 and received no prison sentence or probation for his involvement in a scheme to let day traders eavesdrop on internal conversations over brokers' “squawk boxes.”
Prudential Plc, the U.K.'s biggest insurer, promoted Mike Wells to chief executive officer of its U.S. division and appointed two new non-executive directors as it reorganizes the board after a failed takeover bid in Asia.
John Henry, principal owner of the Boston Red Sox, made his fortune buying and selling commodities — one of the most volatile plays in the investment universe. But with his surprise investment in Liverpool Football Club, the buttoned-down billionaire has entered a whole new realm of ups and downs.
Study reveals which locales will end up with highest total marginal tax rates; Hawaiian punch
Predicts holders of stock will 'lose a lot of money in next 18 months'
SEC eyes tougher rules for high-frequency traders; loss of specialists bemoaned
Investors are moving more money than ever before out of stocks and into bonds, widening a valuation gap and convincing some major fund companies and investors that now is the time to buy equities.
Citigroup Inc.'s private bank will triple the number of hedge funds such as Paulson & Co. that its wealthy clients can invest in, under a push to increase money-management revenue.
Lam sees little chance of economic relapse; 'prolonged period of mild growth'
David Dreman, the fund manager best known for against-the-grain bets on stocks he deems cheap, will step down as co-chief investment officer of Dreman Value Management LLC.
