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INDUSTRY NEWS JUL 10, 2008
Stimulus checks goose sales

U.S. chain store sales rose 4.3% in June — the biggest gain in more than a year — aided by strong performances from discount stores.

By Bloomberg
LIFE INSURANCE AND ANNUITIES JUL 08, 2008
Marsh gets boost from Citi analyst

The ratings have been raised to “buy,” from “hold,” and the target price has been upped to $33 per share, from $30.

By Bloomberg
REGULATION AND LEGISLATION JUL 08, 2008
SIFMA: Raise bar on settlement reporting

SIFMA wants Finra to raise the threshold for reporting settlements with customers to $25,000, from $10,000.

By Bloomberg
INDUSTRY NEWS JUL 07, 2008
Chicago lawyer gets jail time for part in Refco fraud

A Chicago lawyer was sentenced to seven years in prison Thursday by a federal judge who said his excessive loyalty to Refco Inc. led him to help the big commodities brokerage carry out a $2.4 billion fraud.

By Associated Press
OPINION JUL 07, 2008
Customer service: Do you deliver?

While you can’t always guarantee investment, you can guarantee service that will make your clients feel valued.

By Bloomberg
ALTERNATIVES JUL 07, 2008
Blackstone, Fortress estimates cut by BofA

Banc of America Securities cuts its earnings estimates and price targets on Blackstone Group and Fortress Investment Group.

By Bloomberg
FIXED INCOME JUL 07, 2008
CFA Institute poll calls for rating reform

Investors, brokers and analysts believe the current bond-rating system should be reformed.

By Bloomberg
INDUSTRY NEWS JUL 07, 2008
Goldman's hard-to-value assets decrease

Goldman Sachs' hard-to-value assets declined 19% in the second quarter, to $78.1 billion.

By Bloomberg
INDUSTRY NEWS JUL 07, 2008
Fed president predicts shaky markets

Janet Yellen predicts unstable housing and higher commodity prices will hamper recovery before 2009.

By Bloomberg
INDUSTRY NEWS JUL 06, 2008
Testimonials

By tdavid
INDUSTRY NEWS JUL 03, 2008
Structuring of beneficiary designations

Smart advisers don’t rely on a client’s memory about beneficiary designations; they ask to see paperwork.

By Bloomberg
INDUSTRY NEWS JUL 03, 2008
Consumer confidence hits all-time low

Americans reacted to soaring gasoline and food prices and the worst stock market since the Great Depression.

By Bloomberg
INDUSTRY NEWS JUL 03, 2008
U.S. economy lost 62,000 jobs in June

The decrease in non-farm payrolls follows a decline of 49,000 jobs last month.

By Bloomberg
INDUSTRY NEWS JUL 03, 2008
European Central Bank ups interest rate

The European Central Bank raised its benchmark interest rate a quarter point to 4.25% to combat fears about inflation.

By Bloomberg
INDUSTRY NEWS JUL 02, 2008
Private sector sheds 79,000 jobs in June

The job cuts mark the largest decrease since November 2002, according to the monthly ADP National Employment Report.

By Bloomberg
LIFE INSURANCE AND ANNUITIES JUL 02, 2008
AIG's Sullivan scores $47 million severance

Former chief executive Martin Sullivan's package includes equity and cash awards valued around $28 million.

By Bloomberg
INDUSTRY NEWS JUL 01, 2008
Drooping dollar to revive, analyst says

“In a soccer match of 90 minutes, we think we are in the 80th minute of decline of the dollar, said Morgan Stanley's David Darst.

By Bloomberg
ALTERNATIVES JUL 01, 2008
Hedge fund investors offered fraud insurance

Hedge fund investors now have the ability to insure themselves against fraud or even the allegation of fraud.

By Bloomberg
INDUSTRY NEWS JUL 01, 2008
Manufacturing sector shows some life

The national manufacturing sector grew in June for the first time since January, according to the Institute for Supply Management.

By Bloomberg
RETIREMENT PLANNING JUL 01, 2008
ING closes $900M CitiStreet acquisition

The deal makes Hartford-based ING Wealth Management the third largest defined contribution business in the country.

By Bloomberg