In a sign that the economy is growing at a slower pace than first thought, the growth of the U.S. gross domestic product was revised downward to a final reading of 2.8% for the second quarter, according to data from the Department of Commerce.
Despite the volatility of the markets in recent weeks, nearly a third of financial intermediaries are choosing to invest more in equity funds, according to a new survey.
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?
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.
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.
National Financial Partners Corp. warned investors that its total revenue took a dive during the third quarter.
The Investment Company Institute and the Securities Industry and Financial Markets Association are launching a new research project to improve understanding of investors' use of individual retirement accounts.
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.
