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.
Morgan Stanley is expected to introduce a new level of security for hedge fund investors, according to a report by The Wall Street Journal.
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 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.
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.
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.
Net purchases of stocks, notes and bonds obtained by foreigners fell to $11.2 billion in April.
