Hard-hit Swiss bank UBS AG reported another quarterly loss today while France's BNP Paribas posted a 6.6 percent increase in net profit.
Natixis Global Associates, in conjunction with the AlphaSimplex Group LLC, has launched a multistrategy absolute return fund, Natixis announced today.
A private-sector measure of U.S. manufacturing activity declined last month at the slowest pace since August. Production jumped to its highest level in more than two years as manufacturers worked to restock customers' bare shelves, another sign that the recession may soon be over.
Banking group Barclays PLC said today that first-half net profit increased 10 percent as stronger earnings from its expanded investment banking division outweighed an increase in bad loans.
HSBC Holdings PLC, the world's fifth-largest bank by assets, reported a 57% fall in first-half profit as bad loans increased due to the global economic downturn.
Higher assessments by the Securities Investor Protection Corp. are shocking some brokerage firms.
Foothill Securities Inc. an employee-owned broker-dealer based in Mountain View, California, is merging with Cue Financial Group Inc., a smaller independent firm based in Phoenix.
With major equity indexes soaring past their high-water mark for 2009, advisers now seem to agree that the markets have hit their bottom. How long they will continue in positive territory, however, is up for speculation.
MetLife Inc. ended the second quarter in the red, reporting a net loss of $1.4 billion, or $1.74 per share.
Annuities will continue to take a back seat to other insurance and wealth management products at Genworth Financial, according to the insurer's finance chief.
The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, a new government report shows. It was a better-than-expected showing that provided the strongest signal yet that the longest recession since World War II is finally winding down.
An Ohio man has sued life settlements and insurance guru Barry Kaye's firm, alleging that the firm encouraged him to buy a $5 million life policy and left him hanging when it couldn't find a buyer on the secondary market.
Wirehouses lost approximately $1.5 trillion worth of market share last year, according to a report from Cerulli Associates Inc. of Boston.
Independent advisers are mulling a switch to monthly electronic statements in order to cut costs.
Consumers who track their finances online increased their household spending by an average of $400 during the second quarter, compared with the previous quarter, reversing an 18-month trend, according to data released today by <a href=http://www.Mint.com>Mint.com</a>.
The Hartford (Conn.) Financial Services Group Inc. booked a $15 million loss, or 6 cents per share, for the second quarter.
Commercial and personal property insurer Travelers Cos. said today that lower investment income and underwriting profit drove its second-quarter earnings down 21 percent.
Health insurer Cigna Corp. said today its second-quarter profit jumped 60 percent on a more favorable interest rate and other items, but enrollment fell 7 percent.
The number of newly laid-off Americans filing first-time claims for jobless benefits rose last week, the government said, though the increase was mostly due to seasonal distortions.
Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.
