A possible collapse of teetering bond insurers could cost financial firms, including Merrill Lynch and Citigroup, up to $75 billion.
This followed a 4.7% increase in the third quarter, bringing average growth in 2007 to 2.2%, compared with 2.9% in 2006.
UBS posted a $14 billion write-down that will result in a $12.5 billion fourth-quarter loss.
Efforts to bail out bond insurers may be too late to prevent a ratings downgrade, a research firm says.
The hike exceeding original forecasts, posting a positive economic sign in the midst of recession fears.
The decision creates incentive for advisers to drop their securities licenses, said the general counsel of FSI.
Banc One Securities Corporation of Chicago was fined $225,000 by FINRA for making the unsuitable sales.
T. Rowe Price earnings grew 28% in the fourth quarter on increased investment advisory fees and net inflows.
By recruiting Perella Weinberg, the state regulator would focus on protecting the policyholders of “monoline” insurers.
Home prices in the United States fell by a record 8.4% in November, for an 11th consecutive monthly decline.
After a sterling 2007, leading independent-contractor broker-dealers are facing a horde of significant problems this year, with the subprime-mortgage crisis, skyrocketing gas and oil prices and the threat of a recession the most daunting.
Sales of single-family homes fell 4.7% in December to a seasonally adjusted rate of 604,000.
Inspired by market volatility, insurance carriers are making over their equity-index annuities in an attempt to beat a bad reputation and target baby boomer investors.
Gender is a strong factor in determining the likelihood of whether a worker 50 or older receives an annuity or a company-sponsored pension payment, according to a recently released study.
Robert B. Pollock's return follows a six-month hiatus when Mr. Pollock went on administrative leave by order of the board of directors.
When entrepreneur David Barrett couldn't find an investment firm he trusted to manage several million dollars, he created his own.
Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said.
Ameriprise posted strong returns, while E*Trade took a larger-than-expected plunge into negative territory.
First-time jobless claims fell by 1,000 to 301,000, the lowest level since early September.
Speaking at the annual World Economic Forum in Davos, Bob Greifeld urged Congress to speedily pass a stimulus package.
