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.
The House voted today to slap restrictions on how Wall Street executives are paid after nine banks that took government aid rewarded thousands of their employees with bonuses topping $1 million each.
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.
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.
Higher assessments by the Securities Investor Protection Corp. are shocking some brokerage firms.
MetLife Inc. ended the second quarter in the red, reporting a net loss of $1.4 billion, or $1.74 per share.
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.
Congress wants to give the government a direct role in deciding how much executives on Wall Street are paid, after the nation's biggest banks accepted billions in taxpayer money and still managed to distribute $1 million bonuses to thousands of employees.
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.
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>.
Wirehouses lost approximately $1.5 trillion worth of market share last year, according to a report from Cerulli Associates Inc. of Boston.
Commercial and personal property insurer Travelers Cos. said today that lower investment income and underwriting profit drove its second-quarter earnings down 21 percent.
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.
The Hartford (Conn.) Financial Services Group Inc. booked a $15 million loss, or 6 cents per share, for the second quarter.
Independent advisers are mulling a switch to monthly electronic statements in order to cut costs.
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.
Wow, I read this morning that Merrill Lynch has already started aggressively hiring trainee Financial Advisors
Commonwealth Financial Network of Waltham, Mass., picked up three large offices of reps and advisers who manage $1.25 billion in July, and the advisers are coming from two broker-dealer networks that are being shopped by the insurance companies that own them.
