The broker-dealers in the AIG Advisor Group Inc. will be included as part of the massive asset sale that parent company American International Group Inc. could unveil as early as tomorrow, according to an investment banking source who asked not to be identified.
Confidence among wealthy investors fell to all-time lows last month as economic turmoil and market conditions had investors fretting, according to a report by Spectrem Group.
Gloom, doom, pain and much suffering are all in the forecast for at least the next five years, according to renowned market bear David Tice, founder and president of David W. Tice & Associates LLC in Denver.
Jon A. Boscia has joined Sun Life as its president and will handle the company’s overall U.S. business, with the exception of Massachusetts Financial Services Co. He will oversee worldwide marketing.
The Senate breathed new life into the government’s scuttled $700 billion bailout package this evening when it approved a modified version of the bill by a vote of 74 to 25.
If the outlines of the administration’s bailout plan are approved, the next secretary will have to take shots in the dark while walking a tightrope.
The ability of parents to save for their children’s college tuition has declined since last year, according to a study released today by Fidelity Investments of Boston.
U.S. private-sector companies lost 8,000 jobs in September, far fewer than expected after 37,000 positions were shed in August, according to the monthly ADP National Employment Report released today.
Two days after the House rejected a $700 billion financial services bailout bill by a vote of 228 to 205, the Senate will be voting this evening on a slightly revised package in the hopes of pushing the controversial legislation forward.
“It matters little what path a bill takes to become law. What matters is that we get a law,” said President Bush today.
Financial advisers, economists, and others fear that the country may plunge into a deep recession — and possibly even a depression — if congressional leaders don’t hammer out an alternative rescue plan following Monday’s failed vote.
“We need to work as quickly as possible to get something done as soon as possible,” he told reporters at the White House after the financial bailout bill defeat yesterday.
Perhaps, but not without a strong sales job to overcome the inherent inertia
The proposal includes boosting FDIC insurance limits on bank deposits, changing the SEC rules on mark-to-market fair value accounting, launching a net worth certificate program, resurrecting the old security transfer tax and introducing a mechanism to stem to the flood of foreclosures.
Companies that sell equity index annuities are preparing to take the Securities and Exchange Commission to court if the agency finalizes its proposal to regulate the products as securities.
For as long as I can remember, there has been a business in helping investors minimize taxes withheld on dividends.
A case scheduled to be heard by the Supreme Court next month about the fate of an inherited 401(k) plan should serve as a wake-up call to advisers who neglect to update beneficiary documents, according to experts.
Sallie Krawcheck may have spoken up one too many times.
While pundits and industry insiders laud Bank of America Corp.'s acquisition of Merrill Lynch & Co. Inc., there might be a casualty few have considered.
InvestmentNews argued last week that the entire regulatory system for the financial industry needs to be revamped, after an independent commission has thoroughly reviewed the factors that contributed to the mess.
