In a switch from the downturn of 2000, retail investors have actually increased their trading volume, a panel of analysts told participants at the annual meeting of the Financial Industry Regulatory Authority Inc. in Boston. Finra is based in that city and New York.
The pace of layoffs slowed in April when employers cut 539,000 jobs, the fewest in six months. But the unemployment rate climbed to 8.9 percent, the highest since late 1983, as many businesses remain wary of hiring given all the economic uncertainties.
The Financial Industry Regulation Authority Inc. has reached an agreement with four brokerage firms to repurchase $554 million in auction rate securities from clients, and also pay a combined $850,000 in fines to settle charges that they misled investors by marketing these debt instruments as risk-free.
The government’s stress tests of banks have been shrugged off by the market, Bill Miller, chairman of Legg Mason Capital Management Inc., told the Investment Company Institute today.
European stocks extended their rally today and U.S. markets opened higher ahead of the formal release of the results for the U.S. government's stress tests of the country's biggest banks.
The European Central Bank cut its main interest rate by a quarter point to 1 percent Thursday and is poised to unveil more measures to help boost the 16-nation euro zone economy.
Nasdaq OMX Group Inc. said Thursday its first-quarter profit fell 22 percent compared with a year-ago quarter where it booked hefty gains on foreign currency contracts.
Consumers enticed by warmer weather and glimmers of hope for the economy bought a few more items in April, helping to lift sales results at established stores.
In a switch from the downturn of 2000, retail investors have actually increased their trading volume, a panel of analysts told participants at the annual meeting of the Financial Industry Regulatory Authority Inc. in Boston. Finra is based in that city and New York.
The New York-based ratings agency cut the carrier’s grade following Phoenix’s announcement of a first-quarter operating loss of $117.8 million and a $143.9 million — or 17% decline — in statutory surplus and asset valuation reserves,
Longtime insurance and annuity expert Jerome “Jerry” S. Golden, president of the income management strategies division and a corporate vice president of MassMutual’s retirement income division, is retiring.
Investment losses and subprime mortgage impairments drove Genworth Financial Inc. to a first-quarter loss, and the insurer says it plans to sell up to 49 percent of its Canadian mortgage business to raise cash.
Investment executives and retirement plan officials will band together over the next several months to propose some radical enhancements to the nation's 401(k) system, said Robert Reynolds, president and CEO of Boston-based Putnam Investments.
Federal Reserve Chairman Ben Bernanke gave his most optimistic prediction yet Tuesday about the end of the recession, saying he expects the economy to start growing again this year — although the comeback could be weak and more jobs will disappear even after a recovery takes hold.
Lincoln National Corp. ended the first quarter in the red, citing a $600 million charge on the impairment of goodwill in its annuity business.
While charitable giving using the Internet continues to rise, the pace is slowing down due to the recession, according to a survey published yesterday by The Chronicle of Philanthropy.
Stocks are higher in early trading following data indicating job losses are slowing.
Marsh & McLennan Cos. said today it returned to profitability in the first quarter, bouncing back from a loss a year ago when it absorbed a big write-down. But the latest results fell short of Wall Street expectations.
The Securities and Exchange Commission filed fraud charges today against the father and son team who ran Reserve Management Co., the money-market fund company that rocked the financial world last September when it broke the buck on its flagship fund.
Raymond James Financial has attracted a number of recruits in recent months and is on track to add advisers with more than $100 million in production this year.
