U.S. companies in the private sector lost 157,000 jobs in October, according to the monthly ADP National Employment Report, released today.
Ambac posted a third-quarter loss of $2.43 billion, or $8.45 per share, as it set aside $3 billion to cover anticipated claims.
Transit authorities, which are now facing about $4 billion in fees for AIG-backed tax shelters, are reaching out to the government for help, according to The New York Times.
UBS AG reported today a third-quarter net profit of 296 million Swiss francs ($252 million) after losing 858 million francs in the year-ago period.
A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.
Actively managed mutual funds are facing more pressure for market share from exchange traded funds, separately managed accounts, structured notes and 130/30 funds, according to a study released today by Financial Research Corp.
The Hartford (Conn.) Financial Services Group Inc. has announced that it will lay off 500 employees — about 1.6% of its total work force — this month, citing falling revenue and investment losses.
Suppose one of your clients received a large amount of stock in the New York-based Metropolitan Life Insurance Co. when MetLife converted from mutual to public ownership in 2000.
The Hartford (Conn.) Financial Services Group Inc. today reassured the public that it indeed has sufficient capital — though it is lower than previously forecasted.
Investors pulled $581 million out of exchange traded notes in September, leaving a total $5.5 billion, according to the latest data from Morningstar Inc. of Chicago.
