The U.S. real gross domestic product declined to a revised 0.5% in the third quarter, marking its biggest drop in seven years, the Department of Commerce reported today.
President-elect Barack Obama’s campaign promises, selection of economic advisers and recent statements provide insight into the likely tax changes to come and the timing of any such changes.
The Vanguard Group has added Frontier Capital Management and Kalmar Investment Advisers to manage its Vanguard Morgan Growth Fund. The two replace Franklin Portfolio Associates in managing about 20% of the $6.4 billion fund.
Saying that the country faced an “economic crisis of historic proportions,” President-elect Barack Obama introduced the members of his economic advisory team this morning.
The British government today announced a 20-billion-pound ($30 billion) stimulus plan to try to get the United Kingdom through its first recession in 17 years.
Ameritas Life Insurance Co. of Lincoln, Neb., will offer a new version of its new variable universal life policy Jan. 1 as the company tries to conform to new mortality tables.
Nuveen Investments Inc. will acquire Winslow Capital Management Inc., an investment manager that specializes in managing large-cap-growth-stock portfolios for institutions and high-net-worth investors.
Sales of existing homes fell 3.1% in October to a 4.98-million-unit annual rate, as the stock market downfall and the weakening economy caused homebuyers to stay on the sidelines, according to the National Association of Realtors.
Despite the fact that employees are losing a lot of money in their 401(k)s, most are staying the course with their retirement plans, according to an analysis by Hewitt Associates LLC.
Disclosures for managed-payout mutual funds — launched in the last year to help retirees manage income — must make it clear that unlike annuities, such funds do not guarantee income.
