Former American International Group Inc. Chairman Martin Sullivan misled Congress last year when he told lawmakers AIG’s financial problems were caused by fair-value accounting standards, the chairman of the Financial Accounting Standards Board said today.
After banks make an offer, Treasury will decide whether to make a counteroffer, subject to a private appraisal if the two sides cannot agree on a fair price.
Investors are nervous about the savings rate outpacing spending.
Antigua's former chief financial regulator surrendered Thursday to face U.S. charges that he aided an alleged $7 billion swindle by Texas billionaire R. Allen Stanford, government officials said.
Federated Investors Inc. entered into a partnership with a London-based specialty asset management firm to bring global-trade-finance investments to its clients in the United States.
Equity markets in the United States will wind up posting double-digit percentage gains this year, according to Robert Doll, the vice chairman and chief investment officer of New York-based BlackRock Inc.
The Investment Company Institute blistered a House bill under consideration that would require detailed 401(k) plan fee disclosures and require plan administrators to offer a least one low-cost index fund to plan participants.
The Hartford (Conn.) Financial Services Group Inc. yesterday said that it has closed its deal to purchase Federal Trust Corp. for $10 million.
President Obama’s proposed financial regulations could tighten restrictions on insurance companies and pressure the companies’ ratings, according to a new report from Moody’s Investors Service.
