The latest data showing unemployment now at its highest level in 26 years translates into a challenge for stock pickers over the next several years, according to Ann Miletti, who manages more than $2 billion for the Wells Fargo Funds Management Group.
Investors added to the week's strong gains in the stock market after finding some positives in a surprisingly weak jobs report.
Alternative asset manager Fortress Investment Group LLC said Friday its third-quarter loss deepened as it cut expenses and recorded a big gain on affiliate investments.
Hedge fund and private equity firm The Blackstone Group LP on Friday posted a narrower loss for the third quarter, as its private equity holdings gained value and its real estate investments stabilized.
AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
Oil prices lost over $2 to stumble below $78 a barrel Friday as rising U.S. unemployment figures renewed concerns about the economic recovery and consumer demand.
Big bonuses could be back in store for some top executives and traders on Wall Street as profitability returned to the investment banking industry in 2009, according to a new study released Thursday.
Life insurance producer advocacy groups celebrated the House Financial Services Committee's approval yesterday of the proposed Investor Protection Act, but stressed the bill still doesn't go far enough in protecting commissioned-based insurance sales agents.
Cheshire Software Inc. has released an updated version of its Cheshire Wealth Manager planning program, which helps advisers develop both lifetime plans and simpler, goal-based plans for clients.
Stocks are rising as investors get some encouraging news on the labor market and wait for the Federal Reserve to weigh in on the economy.
