Housing starts fell 6.2% last month from July to a seasonally adjusted annual rate of 895,000 units. That is 33.1% below the figure reported in August 2007, according to a report that the Department of Commerce released this morning.
MetLife Inc. has some $800 million in exposure to the now-collapsed Lehman Brothers Holdings Inc. and the just-rescued American International Group Inc. and is assessing the recoverability of those investments.
The nation’s oldest money market mutual fund, The Reserve Primary Fund (RPRXX), fell below $1 in net asset value yesterday because of its exposure to debt from Lehman Brothers Holdings Inc.
After a weekend of turmoil, shares of American International Group Inc. lost more than half their value in the first hour of trading.
Companies involved in the operation of toll roads, airports and seaports represent a new asset class, according to some industry experts.
Wayne Christian figured the registered representatives of Center, a small town in eastern Texas, could use a business boost. He also thought its pension funds and endowments, which fund scholarships, needed some new investment options.
Clearly, some mutual fund managers saw the writing on the wall.
As the market pushed Lehman Brothers Holdings Inc. into a fire sale last week, some financial advisers and registered representatives said they were sticking with Lehman's storied investment management division, Neuberger Berman, at least for now.
Lehman Brothers is verging on collapse, even as Bank of America is reportedly in talks to purchase Merrill Lynch and AIG hammers out its own rescue strategy.
Two new ETFs were launched during the month, bringing the total number of ETFs in the United States to 710.
Former AIG chairman and chief executive Maurice Greenberg and other former executives at the insurer will have to cough up $115 million as part of a settlement in a derivatives lawsuit with the Teachers’ Retirement System of Louisiana.
The Financial Planning Association and the National Association for Fixed Annuities have leapt into the fray, submitting comments on the SEC’s proposed index annuity rule.
Efficient Market Advisors LLC of Del Mar, Calif., announced today the launch of the first 403(b) retirement program offering professionally managed portfolios of exchange traded funds.
Another independent-contractor broker-dealer is being sold — and this time an insurance company is pulling the trigger on the deal.
Manulife Financial Corp. of Toronto has named Donald A. Guloien to succeed Dominic D’Alessandro as president and chief executive officer.
Median prices of single family homes rose 0.9% in July from June, but they’re still down year-over-year by 11.4%, according to the July Home Price Index report released today by Denver-based Integrated Asset Services LLC.
The appeal of alternative-investment strategies is becoming increasing apparent to traditional money management firms trying to capture a piece of that market, according to the latest research from Cerulli Associates Inc. in Boston.
The Phoenix Cos. Inc. of Hartford, Conn., today launched its suite of living-benefit riders, with two new additions.
