“Ultimately, the consumer ought to benefit from greater regulation, provided that we heed the lesson of the current crisis,” said Christopher “Kip” Condron, president and chief executive of AXA Financial Inc. in New York.
Foreclosure activity rose 25% in October from the same period a year ago, according to the latest data from RealtyTrac Inc. of Irvine, Calif.
Losses in the financial services industry since early 2007 are inching closer to the $1 trillion mark, according to data compiled by Bloomberg LP.
The number of individuals receiving unemployment benefits reached 3.9 million last week — an increase of 65,000 from the previous week — the highest level since January 1983.
Despite vehement objections from state regulators, Conseco Inc. yesterday completed its transfer of a group of long term care policies to an independent trust.
Rydex Investments of Rockville, Md., today announced that shares of its exchange traded trust, CurrencyShares Russian Ruble Trust (XRU), will begin trading today. An exchange traded trust is similar to an exchange traded fund.
Virtually all senior hedge fund managers expect increased regulation for the alternative-asset-management industry under President-elect Barack Obama’s future administration, according to a study released today.
Raoul Weil, chairman and CEO of the global wealth management division of UBS, has been indicted by a U.S. grand jury, charged with conspiring to help 20,000 wealthy Americans hide assets from the IRS.
The company posted a third-quarter net loss of 478 million euros ($602 million), or 22 cents a share, compared with a profit of 2.31 billion euros ($2.9 billion), or 1.08 a share, in the year-ago period.
