Ameriprise Financial Inc. has no immediate plans to bail out clients of advisers of its independent broker-dealer subsidiary, Securities America Inc., which saw $60 million erased last week when a giant money market fund, the Reserve Primary Fund, “broke the buck."
“Domestic equity has the highest predictability of earnings, and the lowest volatility. No other country comes close to the U.S. in terms of aggressiveness in monetary policy.”
Accounting for roughly 10% of the nation’s retail-securities business done at banks, JPMorgan Chase & Co. is set to become even more dominant in that segment once it completes its $1.9 billion takeover of Washington Mutual Inc.
Where was all of Wall Street’s expensive, supposedly advanced technology when we needed it? Shouldn’t technology have helped to avert the current economic and financial mess?
National Financial Partners Corp. warned investors that its total revenue took a dive during the third quarter.
Under the agreement, the Putnam fund purchased shares in Federated fund with cash and portfolio securities valued at $12.3 billion, said Putnam spokeswoman Laura McNamara.
Thirteen banking and insurance executives have been selected to join the Washington-based trade association’s board.
New jobless claims rose to their highest point in seven years due to the weakening economy and the recent hurricane season, according to a report released today by the Department of Labor.
The head of Lancer Management Group LLC and Lancer Management Group II LLC has been found guilty of overstating the hedge funds’ valuations, manipulating the prices of seven securities and falsely representing the funds’ holdings in newsletters.
Investors scared away by shaky equity markets have been mining the gold market, but financial advisers are mixed as to whether the investments in the precious metal are a long-term play.
