The National Association of Home Builders said Monday its housing market index rose in August to the highest point in more than a year, as homebuyers hurried to take advantage of a federal tax credit before it expires.
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which the Securities and Exchange Commission sued last month for fraud.
Although many big variable annuity writers are fading from the market, New York Life Insurance Co. has decided to jump in with a new product as a strategy to gain favor with independent broker-dealers and registered investment advisers.
Daniel Andersen, a promoter serving time in prison, was permanently barred from marketing fraudulent tax schemes by the U.S. District Court for the Western District of Washington in Seattle.
Having already added nearly 300 financial advisers in the first six months of the year, Stifel Financial Corp. is now poised to add another 350 new advisers — at least — in the second half of 2009.
The Fed says industrial production rose 0.5 percent in July, after falling in 17 of the previous 18 months.
The Vatican's newspaper on Thursday praised as a step toward "ethical finance" a deal announced by the Swiss and U.S. governments to settle American demands for the identities of suspected tax dodgers.
Foreclosure filings were up 32 percent from the same month last year, RealtyTrac Inc. said Thursday. More than 360,000 households, or one in every 355 homes, received a foreclosure-related notice.
The stock market is trying to reconcile some disappointing retail sales and jobs data with the Federal Reserve's more upbeat view of the economy.
The Blackstone Group LP plans to sell bonds for the first time, but offered no details on how much or when.
