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