The Labor Department says initial claims for unemployment insurance fell to a seasonally adjusted 550,000 from an upwardly revised 576,000 in the previous week. Analysts expected claims to drop to 560,000, according to Thomson Reuters.
The Obama administration said today that a program used to guarantee as much as $3 trillion in money market mutual fund assets will end on schedule next week.
Gold prices rose above $1,000 an ounce Tuesday for the first time in seven months, mostly because of a weak dollar that's driving people to other investments they perceive as safe.
The Securities and Exchange Commission's proposed rule changes for money market mutual funds are not likely to have a negative impact on the $3.55 trillion industry, experts say. Still, if the SEC responds to calls to alter its proposed changes, it could wind up affecting money managers' ability to deliver yield.
Tighter regulation on investment banks will force firms to cut salaries, eliminate staff and reduce capital commitments to the business, according to research from JPMorgan Chase & Co.
In what may be a first, a tribe of Native Americans is buying a broker-dealer and money manager, with a plan to win business by using its status as a minority-owned firm to appeal to Native American investors.
The recession has eaten into people's nest eggs so the government is promoting ways to make it easier to save for retirement.
Suppose your client decides to invest in the stock of a European company that is not traded in the United States. How would he report the transactions for tax purposes?
Fairfield Greenwich Advisors LLC and Fairfield Greenwich Ltd. were slapped with a $500,000 fine today and ordered to pay restitution of $8 million to Massachusetts investors who placed their money into a hedge fund that was invested with convicted swindler Bernard L. Madoff.
