The stock price of The Hartford (Conn.) Financial Services Group Inc. dipped by more than half yesterday, following the company’s release of dismal third-quarter results.
Consumer spending declined 0.3% in September in yet another sign that the economic slump is battering consumers, according to the Department of Commerce.
Investors pulled $21.9 billion out of stock and bond mutual funds in September, according to estimates from the Financial Research Corp. of Boston.
The Reserve Management Co. Inc. of New York today completed the first wave of distributions to shareholders from the liquidation of the Primary Fund.
Confidence among U.S. consumers declined sharply in October as Americans continued to grow more pessimistic about the prospects for the economy.
The Minnetonka, Minn.-based fund’s chief executive, Colin Smith, said in a letter to investors that the current pace of redemption requests could hurt “both continuing and later redeeming investors."
The Chicago-based firm’s third-quarter net income was up 12% to $22.2 million, or 45 cents per share, compared with $19.9 million, or 41 cents per share, in the year-ago period.
This week TD Ameritrade Institutional announced Roadmap, an online tool that is available on its Veo adviser platform.
More than 7.5 million Americans at the end of September owed more in loans than their house was worth, according to a report by First American CoreLogic Inc. of Santa Ana, Calif.
Japan has responded to the global credit crunch today by announcing a 26.8 trillion yen ($275 billion) stimulus package that is designed to assist homeowners and businesses, according to published reports.
