A Boston federal jury found that disability insurer Unum Group committed fraud against the United States in some of its disability cases.
Home sales increased 5.5% last month from August and 1.4% from a year earlier to a seasonally adjusted rate of 5.18 million units, according to the NAR.
U.S. equities plummeted at the open, sparked overnight by news that Sony reduced its 2009 forecast while Toyota Motor Corp.'s third-quarter sales contracted.
Zurich-based Credit Suisse Group reported a third-quarter loss of 1.26 billion Swiss francs ($1.08 billion), compared with a profit of 1.3 billion francs in the year-ago period.
The Financial Industry Regulatory Authority Inc. today announced agreements in principle with Bank of New York Mellon Capital Markets LLC, City National Securities Inc. and Harris Investor Services Inc. to settle charges related to the selling and marketing of auction rate securities.
BrokersXpress, which focuses on representatives and advisers who trade options, said on Tuesday that it is paying $4 million in cash and additional consideration based on future performance for Horwitz & Associates.
Federal Deposit Insurance Corp. chairman Sheila Bair this morning urged the government to exercise the power provided by the $700 billion Emergency Economic Stabilization Act of 2008 to assist homeowners facing foreclosure.
The number of American workers who filed new claims for jobless benefits rose to a seasonally adjusted 478,000 during the one-week period ended Oct. 18, from a revised 463,000 the prior week, according to Department of Labor data.
Ambac Financial Group Inc. of New York has selected David W. Wallis as its new president and chief executive.
Global institutional investors have continued to retreat from risky assets, as the financial crisis has worsened and the potential for a global recession has grown, according to the State Street Investor Confidence Index, developed by State Street Associates LLC of Cambridge, Mass.
Wachovia Corp. reported a massive third-quarter loss today in what is likely to be its last earnings report as an independent company.
LPL Financial of Boston has tapped Allison Couch to be president of Associated Securities Corp., its El Segundo, Calif., subsidiary.
The Conference Board’s index of leading indicators rose 0.3% in September after declining over the previous five months.
Jackson National Life Insurance Co. of Lansing, Mich., today announced that it generated $11.2 billion in total sales and deposits during the first nine months of the year.
U.S. Bancorp reported that its third-quarter earnings fell 47% to $576 million, or 32 cents a share, from $1.1 billion, or 62 cents a share, in the year-ago period.
The AIG Advisor Group has seen a massive defection from one of its broker-dealers, involving a network of reps that produced more than $41 million in gross revenue last year.
ING Groep N.V. said today that it would sell its Taiwanese life insurance business to Fubon Financial Holding Co., a Taipei-based financial services firm.
The following transcript is from "What the Crisis Means for Long-Term Investing," an InvestmentNews webcast held Oct. 7.
As many look to diversify portfolios into frontier markets, some advisers might consider recommending Peru, which offers an economy with peaks and valleys reminiscent of the country's Andes Mountains.
Brokers and industry observers worry that the Department of the Treasury's capital purchase program to inject $250 billion into the financial services industry could mark a new era of government control and mistrust of the industry.
