More than 77% of 1,003 advisers who responded to an <i>InvestmentNews</i> survey over the past 36 hours fear the news coming out of Wall Street is likely to get worse before it gets better.
Putnam Investments today announced the shuttering of its institutional Putnam Prime Money Market Fund (PPMXX) as of 5 p.m. ET yesterday.
The rocky financial markets of 2008 have taken a toll on hedge funds, with liquidations up and new fund launches down, according to the latest data from HFR Group LLC in Chicago.
A ban on the short-sale of financial stocks put into effect today by Britain’s Financial Services Authority today was criticized by the U.S. trade group that represents hedge funds.
Housing starts fell 6.2% last month from July to a seasonally adjusted annual rate of 895,000 units. That is 33.1% below the figure reported in August 2007, according to a report that the Department of Commerce released this morning.
MetLife Inc. has some $800 million in exposure to the now-collapsed Lehman Brothers Holdings Inc. and the just-rescued American International Group Inc. and is assessing the recoverability of those investments.
Dekania Corp., a special-purpose acquisition company looking to invest in an insurance business, announced Monday that it was merging with Chicago-based Advanced Equities.
The nation’s oldest money market mutual fund, The Reserve Primary Fund (RPRXX), fell below $1 in net asset value yesterday because of its exposure to debt from Lehman Brothers Holdings Inc.
An employer provided a worker with a lump-sum payment of approximately $35,000 during the first year of his disability, which he declared as income when he completed his tax return.
Morgan Stanley, which saw its stock fall as much 28% at one point on Tuesday after a drop of 13.5% on Monday, rushed out its fiscal third-quarter earnings report after the market closed today, trying to reassure investors that it is standing up to the market turmoil that has felled some top competitors.
