U.S. consumer spending, propelled by a temporary government incentives program for auto sales, shot up in August by the largest amount in nearly eight years even though personal incomes continued to lag.
First-time claims for jobless benefits increased more than expected last week, a sign employers are reluctant to hire and the job market remains weak.
Consumer spending, the bulwark of economic growth, is showing signs of life as the economy transitions from recession to recovery.
In a lawsuit filed today, State Attorney General Richard Blumenthal says the two companies knowingly assigned false ratings to securities tied to subprime mortgages.
Software and IT services giant SunGard Data Systems Inc. has partnered with four third-party administrators including: APA Benefits Inc., CMC Interactive LLC, Ingham Retirement Group, and KTRADE to provide<a href="http://sungard.com/financialsystems/productofferings/wmexchgtradfundssolution.aspx" target=”_blank”> SunGard's Exchange Traded Funds solution</a> launched in July in conjunction with iShares.
CIT Group Inc. shares plunged in premarket trading Wednesday as the commercial lender is reportedly trying to craft an exchange that would cut its debt and offer bondholders an equity stake in the company in a bid to avoid bankruptcy.
A prominent wirehouse rep and his Hawaii-based team — <a href= http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090929/FREE/909299980&ht=choy>who rather suddenly left</a> Merrill Lynch & Co. Inc. in September — have formed a new advisory firm.
The majority of investors who work with advisers are not aware that income limits associated with the conversion of a traditional IRA to a Roth IRA will be lifted in January, according to a survey conducted by Fidelity Investments.
The United States faces greater systemic risk today than it did a year ago, according to economist Joseph Stiglitz, a Nobel laureate and professor at Columbia University's graduate business school.
