Federated Investors Inc. today reported net income of $35.1 million, or $0.34 per share, for the first quarter, compared with a net income of $55.8 million, or $0.54, for the comparable quarter last year, representing a 35% decline.
The Securities and Exchange Commission plans to eliminate an New York Stock Exchange rule that allows brokerage firms to vote the proxies of their investor clients, The Wall Street Journal reported today.
The Securities and Exchange Commission today charged William L. Gunlicks and his firm, Founding Partners Capital Management Co. of Naples, Fla., with misrepresenting the investments the firm made through a series of partnerships that buy hospital receivables.
Swiss banking giant Credit Suisse on Thursday reported a first-quarter net profit of 2 billion Swiss francs ($1.72 billion), following a turnaround in its investment bank, which had previously been hit hard by the credit crunch.
House Republicans on Wednesday introduced legislation that would lift the ceiling on retirement savings account contributions.
The International Monetary Fund projected the 1.3 percent drop in a dour forecast released Wednesday. That could leave at least 10 million more people around the world jobless, some private economists said.
Hedge funds posted small gains last month following the rally in the equity market, according to a Morningstar report released today.
Banking company KeyCorp is reporting another big quarterly loss, partly due to a large increase in its set-asides for loan losses, and plans to cut its dividend.
Congressional oversight panel told of progress, including increases in the number of refinanced mortgages and signs that credit conditions have improved.
