Rates on 30-year mortgages plunged this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.
The Obama administration today unveiled a sweeping overhaul of the financial system designed to impose greater regulation on major players like hedge funds.
The U.S. economy shrank at a 6.3 percent pace at the end of 2008, the worst showing in a quarter-century, and probably isn't doing much better now.
Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston.
In his White House press conference last night, President Obama defended his proposal to reduce the tax deduction for philanthropic gifts, stating that the measure would not deter donors from giving.
Fidelity Investments said that it will reopen the Fidelity Diversified International Fund (FDIVX) and the Fidelity Small Cap Stock Fund (FSLCX) to new investors March 30 and launch the Fidelity Global Commodity Stock Fund on March 31.
A sign of the times: Portfolio managers are more bullish about bonds than equities for the first time in years, according to a Russell Investments survey.
Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today.
New U.S. home sales rebounded unexpectedly last month, but were still the second-worst on record and remained well below last year's levels, according to data released Wednesday.
Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market.
