First Allied Securities Inc. has high hopes for its new wealth management platform, Guided Portfolio Solutions, the first piece of which was unveiled Thursday.
Congress wants to give the government a direct role in deciding how much executives on Wall Street are paid, after the nation's biggest banks accepted billions in taxpayer money and still managed to distribute $1 million bonuses to thousands of employees.
The House voted today to slap restrictions on how Wall Street executives are paid after nine banks that took government aid rewarded thousands of their employees with bonuses topping $1 million each.
The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, a new government report shows. It was a better-than-expected showing that provided the strongest signal yet that the longest recession since World War II is finally winding down.
Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.
Wirehouses lost approximately $1.5 trillion worth of market share last year, according to a report from Cerulli Associates Inc. of Boston.
The Commodity Futures Trading Commission is mulling setting position limits on physical commodities and is questioning whether swaps dealers should remain exempt from position limits.
Health insurer Cigna Corp. said today its second-quarter profit jumped 60 percent on a more favorable interest rate and other items, but enrollment fell 7 percent.
Commercial and personal property insurer Travelers Cos. said today that lower investment income and underwriting profit drove its second-quarter earnings down 21 percent.
The number of newly laid-off Americans filing first-time claims for jobless benefits rose last week, the government said, though the increase was mostly due to seasonal distortions.
