General Motors Corp.'s auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.
The number of new jobless claims and the total number of people receiving unemployment benefits both dropped unexpectedly last week, though they remain at elevated levels.
Legg Mason Inc. said Thursday it will record a $610 million charge to reflect elimination of exposure to risky structured investment vehicles in its money market accounts.
The Securities and Exchange Commission on Wednesday settled a charge that 14 trading firms cheated customers out of millions of dollars.
Confidence in the White House rose this year but dropped for Wall Street and corporations, according to an annual poll conducted by Harris Interactive Inc.
Advisers soon may be able to pursue a new designation that would formally qualify them as experts in managing investment portfolios during their clients' retirement years.
Raymond James expects a record recruiting year, as reps and advisers flee struggling wirehouses to join the St. Petersburg, Fla.-based company.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
The financial services industry spent more than $5 billion on political contributions and lobbying from 1998 through 2008, according to a study released today.
