Based on evidence that has always and only been observed during or immediately prior to U.S. recessions, the U.S. economy appears headed into a second leg of an unusually challenging downturn.
Legg Mason Inc.'s Bill Miller said the U.S. stock market, which has dropped 12 percent from its April high on concerns Europe's debt crisis may spread, will rise after the region's banks complete stress tests.
Bank of New York Mellon Corp. named Lawrence Hughes head of its wealth-management unit, replacing David Lamere, who resigned.
Legg Mason Inc. plans to eliminate 350 jobs to cut costs and buy back $1 billion in shares after suffering the biggest losses among publicly traded money managers during the credit crisis.
U.S. stocks could jump as much as 20 percent, led by technology companies, as the global economy rebounds from Europe's debt crisis, said Barton Biggs.
Matthew Gelfand, former Fed hand, signs on with family office firm
Critics say plan to treat all life settlements as securities will shrink the industry – or worse; others say that's hooey
An SEC task force on Thursday recommended that life settlements be defined as 'securities,' thus making such transactions subject to federal securities laws.
Like a road crew repairing potholes, analysts this week will be trying to measure the length and depth of the economic “soft patch” currently afflicting the U.S. economy.
It's been just over a year since Peter Kraus took over as CEO of AllianceBernstein LP.
