Two of the biggest blowups in the retail-investing business are wending their way through legal channels, with plaintiff's attorneys looking far and wide to place blame in order to win money for clients.
Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said.
Ameriprise posted strong returns, while E*Trade took a larger-than-expected plunge into negative territory.
First-time jobless claims fell by 1,000 to 301,000, the lowest level since early September.
Franklin Resources reported a 21% increase in profits while Janus Capital Group experienced a 29% drop in earnings.
For all of 2007, the median sales price of an existing single-family home fell 1.8%.
Piper Jaffray's earnings fell 27% with net income falling to $15.1 million while Jefferies reported a loss of $24.2 million.
The new benefit will go with UBS’s target retirement funds and other investment options.
Asian stocks bounced back while European securities slumped following the Federal Reserve's interest-rate cut.
The subprime-credit debacle caused the firms' profits to fall sharply in the fourth quarter.
Treasury Secretary Henry Paulson this morning expressed optimism that a temporary growth plan can be enacted quickly.
Although they are pessimistic about the U.S. economy, they are optimistic about their own company's prospects.
John Koehler will lead a group of nine specialists, each one focusing on advanced planning techniques.
In an surprise move, the Federal Reserve cut interest rates from 4.25% to 3.50%.
The typical American financial adviser is 50.4 years old, works with 250 to 500 clients and manages $25 million to $100 million in assets.
As subprime-related losses mount, the word itself has proved to be a winner.
Moody's downgrade of FMR Corp.'s debt rating reflects an unseen mountain of unrated debt the company has accumulated in recent years, according to the rating agency.
Upon implementation of the Pension Protection Act one year ago, sponsors of 401(k) plans gained the opportunity to limit their liability for advice given to participants under eligible investment advice arrangements.
