April is National Financial Literacy Month, and it couldn't arrive at a better time for Americans who can't answer the most basic questions concerning personal finance.
The Charles Schwab Corp. reported better-than-expected first-quarter earnings last week, but buried in the numbers were signs that the headlong growth of the independent-adviser community may be waning, according to some analysts.
The government's Public-Private Investment Program — designed to remove bad assets from bank balance sheets and promote lending — will help turn around the economy in the short run, but perhaps not long-term, according to financial advisers.
As part of a massive overhaul of its U.S. wealth management business, UBS AG is set to shed up to 2,000 jobs, shrink its regional operations and consolidate a number of branches here over the next several months.
Insurance companies that have been eliminated from the TARP pool are running up against a new obstacle: financial advisers who are reconsidering whether they want to do business with them.
Several Braintree, Mass.-based firms filed suit yesterday in federal district court charging a Citigroup subsidiary with fraudulently selling auction rate securities while the firm was under investigation.
European stock markets rose today, with Wall Street expected to open higher, following better than expected earnings from U.S. banking giant Citigroup Inc. and General Electric Corp.
Despite a report by the Federal Reserve Board that found five out of 12 of its banking districts reporting a moderation in the pace of economic decline, many experts aren’t ready to predict the beginning of a recovery.
Citigroup Inc. Chief Executive Vikram Pandit put his credibility on the line last month when he wrote a memo saying the bank, after five consecutive quarters of losses, at last was profitable. It turns out that depends on which definition of “profit” is used.
Three broker-dealers in the ING Advisors Network are facing another round of strategic reviews that could lead to their sale, an ING spokesman said this morning.
JPMorgan Chase said today it earned $2.14 billion for the first quarter, thanks to rising deposits and lower borrowing rates. The profit was 10 percent lower than last year, but better than expected.
The economic meltdown many countries are experiencing is likely to last longer than typical recessions and be followed by a weaker than average recovery, the International Monetary Fund said today.
Fidelity Investments, responding to what it called continuing challenges as the recession lingers, told employees in all but its lowest-echelon bonus pool that they will not get merit increases this year.
The court-appointed receiver for the Stanford Group Company of Houston yesterday filed suit against 66 Stanford brokers seeking to return of more than $40 million in sales commissions and upfront loans.
Stocks are slipping following a Philadelphia Federal Reserve report that regional manufacturing shrank again in April.
The number of newly laid-off Americans requesting unemployment insurance benefits fell last week, a sign that job cuts could be easing.
Michigan regulators say brokerage firms Citigroup Inc. and Wachovia Corp. have paid $2.37 million to the state after an investigation into the sale of auction rate securities.
Requiring annuities or other fixed-income products be included as an option in 401(k) plans is being considered by the House Education and Labor Committee, said Rep. Robert Andrews, D-N.J., chairman of the committee’s Health, Employment Labor and Pensions Subcommittee.
