Zurich-based Credit Suisse Group reported a third-quarter loss of 1.26 billion Swiss francs ($1.08 billion), compared with a profit of 1.3 billion francs in the year-ago period.
The number of American workers who filed new claims for jobless benefits rose to a seasonally adjusted 478,000 during the one-week period ended Oct. 18, from a revised 463,000 the prior week, according to Department of Labor data.
BrokersXpress, which focuses on representatives and advisers who trade options, said on Tuesday that it is paying $4 million in cash and additional consideration based on future performance for Horwitz & Associates.
The Financial Industry Regulatory Authority Inc. today announced agreements in principle with Bank of New York Mellon Capital Markets LLC, City National Securities Inc. and Harris Investor Services Inc. to settle charges related to the selling and marketing of auction rate securities.
Federal Deposit Insurance Corp. chairman Sheila Bair this morning urged the government to exercise the power provided by the $700 billion Emergency Economic Stabilization Act of 2008 to assist homeowners facing foreclosure.
Global institutional investors have continued to retreat from risky assets, as the financial crisis has worsened and the potential for a global recession has grown, according to the State Street Investor Confidence Index, developed by State Street Associates LLC of Cambridge, Mass.
The financial services industry yesterday called on Congress to enact sweeping regulatory reforms, including creating a “stability regulator” to oversee systemic risk in all financial services firms.
Ambac Financial Group Inc. of New York has selected David W. Wallis as its new president and chief executive.
LPL Financial of Boston has tapped Allison Couch to be president of Associated Securities Corp., its El Segundo, Calif., subsidiary.
Wachovia Corp. reported a massive third-quarter loss today in what is likely to be its last earnings report as an independent company.
The Conference Board’s index of leading indicators rose 0.3% in September after declining over the previous five months.
Jackson National Life Insurance Co. of Lansing, Mich., today announced that it generated $11.2 billion in total sales and deposits during the first nine months of the year.
U.S. Bancorp reported that its third-quarter earnings fell 47% to $576 million, or 32 cents a share, from $1.1 billion, or 62 cents a share, in the year-ago period.
ING Groep N.V. said today that it would sell its Taiwanese life insurance business to Fubon Financial Holding Co., a Taipei-based financial services firm.
The AIG Advisor Group has seen a massive defection from one of its broker-dealers, involving a network of reps that produced more than $41 million in gross revenue last year.
The following transcript is from "What the Crisis Means for Long-Term Investing," an InvestmentNews webcast held Oct. 7.
As many look to diversify portfolios into frontier markets, some advisers might consider recommending Peru, which offers an economy with peaks and valleys reminiscent of the country's Andes Mountains.
It is time for politicians of all stripes to stop blaming the financial crisis on "Wall Street greed" and level with the American public.
Brokers and industry observers worry that the Department of the Treasury's capital purchase program to inject $250 billion into the financial services industry could mark a new era of government control and mistrust of the industry.
The unfolding global economic crisis, vividly illustrated by the recent record-level stock market volatility, is sparking new debate over the value of gold as part of an investment portfolio.
