HSBC Holdings PLC, the world's fifth-largest bank by assets, reported a 57% fall in first-half profit as bad loans increased due to the global economic downturn.
The House voted today to slap restrictions on how Wall Street executives are paid after nine banks that took government aid rewarded thousands of their employees with bonuses topping $1 million each.
First Allied Securities Inc. has high hopes for its new wealth management platform, Guided Portfolio Solutions, the first piece of which was unveiled Thursday.
Congress wants to give the government a direct role in deciding how much executives on Wall Street are paid, after the nation's biggest banks accepted billions in taxpayer money and still managed to distribute $1 million bonuses to thousands of employees.
The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, a new government report shows. It was a better-than-expected showing that provided the strongest signal yet that the longest recession since World War II is finally winding down.
Investors bought more exchange traded funds in the first half of this year than in the comparable time period in 2008, according to Strategic Insight Mutual Fund Research and Consulting LLC.
Wirehouses lost approximately $1.5 trillion worth of market share last year, according to a report from Cerulli Associates Inc. of Boston.
The Commodity Futures Trading Commission is mulling setting position limits on physical commodities and is questioning whether swaps dealers should remain exempt from position limits.
Commercial and personal property insurer Travelers Cos. said today that lower investment income and underwriting profit drove its second-quarter earnings down 21 percent.
Health insurer Cigna Corp. said today its second-quarter profit jumped 60 percent on a more favorable interest rate and other items, but enrollment fell 7 percent.
