Lincoln National, which markets itself as Lincoln Financial Group, will raise about $600 million from the stock offer.
The National Association of Active Investment Managers of Littleton, Colo., has elected Renee Toth as president of the trade group for 2009-2010.
President Obama unveiled a systemwide regulatory overhaul Wednesday, measures he hopes will restore confidence in the U.S. financial system and prevent a repeat of the worst crisis to hit Wall Street in seven decades.
Because the insurance industry has grown to $6.3 trillion in assets under management and $1.2 trillion in annual premiums, the regulations that govern the industry need to be modernized, according to House Capital Markets Subcommittee Chairman Paul Kanjorski, D-Pa.
Hedge funds gained 5.77% in May and 10.75% for the year through May 31, according to research from BarclayHedge.
The Commerce Department said Tuesday that construction of new homes and apartments jumped 17.2% to a seasonally adjusted annual rate of 532,000 units.
The Federal Reserve's report on Tuesday showed production at the nation's factories, mines and utilities has fallen for seven straight months. Output also turned out to be a bit weaker — a 0.7 percent decline— in April than the Fed initially reported.
Gross domestic production declined nearly 10 percent in the first quarter and the government predict it will decline by 6 to 8 percent this year.
The Internal Revenue Service could help taxpayers reduce errors by clarifying instructions and improving the layout of Form 1040, a Treasury Department report released today charged.
Sun Life Financial Inc. today said that it will buy Lincoln National Corp.’s business in the United Kingdom for about $318.6 million.
