In an effort the calm the nerves of anxious Americans, President George W. Bush this morning said that the government is acting to resolve the financial crisis, which has mostly been driven by “uncertainty and fear.”
Prudential Financial Inc. yesterday pre-released third quarter results for its financial services businesses, warning investors of large investment losses.
New software examines patterns and modeling activities across a broker-dealer’s book of business.
The Reserve Management Co. Inc. of New York announced yesterday the liquidation of 15 money market mutual funds.
A temporary ban on short selling the stock of more than 800 banks and related financial companies expired at midnight, much to the satisfaction of the hedge fund industry.
The ProShares UltraShort Financials (SKF), and ProShares Short Financials (SEF) exchange traded funds resumed the normal process of creating new shares today.
Moody's Investors Service announced yesterday that it has downgraded Legg Mason Inc.'s senior debt rating to A3, from A2.
MetLife Inc. of New York recently approached Hartford (Conn.) Financial Services Group Inc. about a merger, insiders told The Wall Street Journal.
RBC Capital Markets Corp. of New York will buy back up to $800 million in auction rate securities from more than 2,000 investors under a preliminary settlement announced today by the Securities and Exchange Commission and state securities regulators.
In a sign that buyers are responding to low home prices and more affordable interest rates, the pending home sales index saw a 7.4% boost to 93.4 in August, according to the National Association of Realtors.
