Certified public accountants who practice in New York — even if they are licensed in other states — will have to register with the New York State Education Department Office of the Professions when a new law goes into effect July 26.
The government says the number of newly laid-off workers seeking jobless benefits rose last week, though the report was distorted by the timing of auto plant shutdowns.
Morgan Stanley says its net loss after payment of preferred dividends was $1.26 billion, or $1.10 per share, compared with earnings of $1.06 billion, or $1.02 per share, a year earlier.
Wells Fargo has joined other big banks in reporting significant second-quarter results, with a 47 percent rise in profit helped by its acquisition of Charlotte, N.C.,-based Wachovia Corp.
Hedge funds came back with a vengeance during the three-month period ending June 30, posting the industry's best performance since the fourth quarter of 1999, according to Hedge Fund Research Inc. in Chicago.
Second-quarter profit plunged 76 percent at U.S. Bancorp as credit costs rose and it repaid a government loan. But the results still beat Wall Street expectations as net revenue hit a quarterly record and the stock rose nearly 4 percent today.
If the market decline of the past year or so has taught the investing public anything, it's that professional investment advice — whether from top Wall Street gurus, mutual fund managers or financial advisers — doesn't ensure success.
Investment manager BlackRock Inc. said Tuesday its second-quarter profit tumbled 20 percent, but its earnings still surpassed analysts' expectations.
Hedge fund managers and corporate boards received low marks with regard to ethical behavior in a recent survey of financial-industry professionals.
With the U.S. economy expected to emerge this year from the longest recession since World War II, business forecasters are feeling a bit less gloomy about the future.
