Those with an average income of nearly $200,000 spent 6.4% less on luxury goods such as fashion accessories, electronics and upscale home furnishings in the fourth quarter of 2008 than they did in the third quarter, according to a study.
Waddell & Reed Financial reported a fourth-quarter loss of $730 million, or 1 cent per share, compared with a profit of $35.1 million, or 42 cents per share, a year earlier, due to a severe decline in assets under management.
The genesis of the index is the Temporary Liquidity Guaranty Program created by the Federal Deposit Insurance Corp., which allows bank holding companies to issue senior unsecured debt guaranteed by the U.S. government.
State Street Global Advisors today announced the launch of two new fixed-income exchange traded funds: the SPDR Barclays Capital Short Term International Treasury Bond ETF and the SPDR Barclays Capital Mortgage Backed Bond ETF.
Lincoln National Corp. has announced that it will lay off 5% of its employees, or approximately 540 positions, according to published reports.
The Mortgage Bankers Association is predicting that 2009 will be another rocky year for the housing sector, with housing starts falling 22.9%, new-home sales declining 31% and new-home prices falling another 5.1%.
While incoming contributions to the Fidelity Charitable Gift Fund dropped 43% last year, its grant making to non-profit organizations increased.
Who would be better at running an independent broker-dealer than an independent rep?
The severe market downturn is wreaking havoc on an independent-broker-dealer industry, putting all sources of income under siege and flattening already thin profit margins.
Despite the economic downturn, investors with more than $100,000 in assets were still optimistic about investing in green ventures, according to a survey released today by Allianz Global Investors.
