Bloomberg

Bloomberg
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RIA NEWS DEC 05, 2008
Unemployment reached 6.7% in November

The U.S. economy shed 533,000 jobs in November, marking the largest single monthly contraction in the job market in 34 years, according to data from the Department of Labor.

RETIREMENT PLANNING DEC 04, 2008
It is time for IRA conversions

Before yearend, capitalize on low stock values by moving to Roth accounts.

ALTERNATIVES DEC 04, 2008
Fortress pulls up Drawbridge fund

Fortress Investment Group LLC has suspended redemptions from its largest hedge fund and three of its feeder funds., according to a filing with the Securities and Exchange Commission.

RIA NEWS DEC 04, 2008
ING settles with investors bilked of $2.9M

ING Financial Partners last month reached a settlement with 38 defrauded investors to return $2.9 million stolen by two former brokers, both of whom are now in jail.

PRACTICE MANAGEMENT DEC 03, 2008
SEC stresses importance of compliance

In an open letter released Tuesday, the SEC warned chief executives of registered financial services firms to be vigilant when it comes to keeping their compliance programs in order.

RIA NEWS DEC 03, 2008
Jobs continue to dwindle in November

The U.S. economy shed 250,000 private-sector jobs in November in the latest sign that the recession is pummeling the job market, according to the monthly ADP National Employment Report released today.

MUTUAL FUNDS DEC 03, 2008
Fidelity reopens two retirement-oriented funds

To offset numerous redemptions this year, Fidelity Investments announced yesterday it will be reopening two of its mutual funds to new investors and accounts, starting Dec. 16.

RIA NEWS DEC 03, 2008
Beige Book details drab outlook

Economic activity weakened across the country since mid-October, as the credit crisis had an impact on the broader economy, according to the Federal Reserve's Beige Book.

MUTUAL FUNDS DEC 03, 2008
Utopia lost for famed Michigan fund

After a three-year run in the mutual funds sector, Utopia Funds in Traverse City, Mich. is throwing in the towel by liquidating all four of its funds as of Dec. 22.

ETFS DEC 03, 2008
State Street Corp. to cut 6% of work force