Insurance brokerage fee income at banks hit $3.05 billion for the third quarter of 2009, up 11.7% from the year-ago period, according to the Michael White-Prudential Bank Insurance Fee Income Report.
The head of the IMF said China and other developing Asian economies are leading a global recovery that is faster and stronger than expected, but warned that money rushing into emerging markets could lead to asset bubbles.
The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected.
European stock markets continued to trade lower Monday following steep losses in the U.S. at the end of last week. Wall Street, however, regained some ground at the open even as concerns lingered about President Barack Obama's plan to curb banks' risk-taking.
Bank of New York Mellon says its fourth-quarter profit surged as asset and wealth management revenue offset lower interest income.
Unemployment rates rose in 43 states last month, the government said Friday, painting a bleak picture of the job market that illustrated nationwide data released two weeks ago.
Robert McCann is rewarding the veteran brokers who have stayed with UBS Financial Services Inc. through the past two years.
Investors in Treasury inflation-protected securities should be aware the “government is playing games with the CPI numbers” in an attempt to keep inflation low, said Robert Arnott, chairman of Research Affiliates LLC.
Financial planners around the country say there is a sense that people are returning to basic principles: Maximize savings; limit use of credit cards; keep a substantial emergency fund; understand risk; diversify; and don't short-cut your way to wealth.
If timing is everything, the mutual fund industry couldn't have picked a worse time to launch managed- payout funds.
