Bear Stearns today said its earnings dropped, while Goldman Sachs reported a slight decline in revenues.
Surging energy prices pushed the producer price index up 0.9% in May, according to the Department of Labor.
The Bear Stearns Cos. Inc. is liquidating holdings from a recently formed hedge funds after it lost money on subprime mortgage bonds.
To rev up its top reps and advisers, Raymond James is giving bonuses to its biggest-producing brokers.
NYSE firms that do business with the public reported a dip in profits and increased revenues in the first quarter.
Lehman Brothers Holdings today announced record profit levels during the second quarter.
Fidelity Investments has sold nearly all of its shares in Dow Jones & Co., the target of a $5 billion takeover bid by Rupert Murdoch’s News Corp.
James Livingston has been tapped as CEO of National Planning Holdings, replacing Shawn Dreffein.
The Hartford Financial Services Group Inc. has tapped Thomas M. Marra to take on the combined position of president and chief operating officer.
Merrill Lynch, Morgan Stanley, Smith Barney and Charles Schwab are being sued for allegedly illegally forcing clients into lower paying deposit accounts, enabling the firms to reap “billions” in extra profits.
More insurers are offering riders that include long-term-care coverage in life insurance policies.
Wachovia Corp. last week put the finishing touches on its retention package for brokers with A.G. Edwards Inc., and the company plans to announce details as early as today or as late as Wednesday.
Wachovia Corp.’s planned $6.8 billion purchase of A.G. Edwards Inc. could make an already competitive sales game even tougher for U.S. mutual fund firms, some analysts said.
IRVINE, Calif. — Smith Barney reps are wondering when they’ll get their payments from the wage-and-hour lawsuit the firm agreed to settle in May 2006 for $98 million.
Rydex Investments has been in discussions with some suitors about being acquired, according to industry sources.
The IRS has put a damper on a tax saving strategy that has been used by some investors with fee-based accounts.
Wal-Mart Stores Inc. is taking another crack at expanding its financial services business by partnering with a discount- brokerage platform that potentially could move the world’s largest retailer closer to the financial advice business.
CHICAGO — To add reserves to their retirement nest egg, more elderly people are considering the sale of existing life insurance policies, financial advisers say.
OTTAWA — The House of Commons Finance Committee has voted down a measure that would have provided for a 10-year delay in taxing companies with an income trust structure.
NEW YORK — Although most millionaires feel that their wealth is “extremely secure,” many still have not found the kind of financial advice that suits their needs. According to the annual wealth survey by The Phoenix Cos. Inc. of Hartford, Conn., 34% of millionaires young and old lacked a primary financial adviser.
