Call it a signal of distress. Oswald Gruebel, boss of UBS AG, plans on eliminating 5.3% of the bank's workforce. This comes on top of scrapping the Swiss giant's profit targets. Both the wealth management group and wealth management Americas will feel the pinch.
Daily trading volume among 401(k) plan participants soared during the height of Congress' debt-ceiling debate, producing a massive transfer to fixed-income investments from equities, according to Aon Hewitt.
Morgan Stanley (MS), owner of the world's largest retail brokerage, named Charlie Mak president of the firm's international wealth-management unit.
It's taken a while, but Ted Charles finally cashed out his entire stake in Investors Capital, the publicly traded B-D he founded. The real surprise: who he ended up selling to.
Harvard University economics professor Martin Feldstein said the U.S. recovery that began two years ago has been losing steam and there are even odds the economy will slip into recession.
The 2007-2009 recession gouged the world's largest economy more deeply than previously estimated and the recovery lost momentum throughout 2010 before stalling this year, revised figures show, painting a bleaker picture that may raise concern over the outlook for U.S. growth.
Broker-dealers have been engaging in sales practices for structured securities products that hurt retail investors, according to a Securities and Exchange Commission report.
The Standard & Poor's 500 Index may fall as much as 24 percent and the euro might tumble to $1.20 if the U.S. economy slows further and Europe's debt crisis widens, said Raoul Pal, the former GLG Partners Inc. fund manager currently writing the Global Macro Investor strategy sheet.
Report from Rep. Spencer Bachus outlines the law's impact and says the law has not lived up to the expectations set last year by Treasury Secretary Geithner and congressional Democrats.
Barney Frank says lack of funding is impeding implementation
​A mind is a precious thing to waste, so why are millions of America's students wasting theirs by going to college?
Rule governing back-office personnel effective as of mid-October; reaction to Madoff?
In the days prior to the collapse Friday of negotiations over raising the debt ceiling, the outlines of major tax reform that likely will be required in the long run to restore fiscal balance in Washington began to take shape
McCrudden faces ten years in prison for Internet threats against regulators; allegedly posted execution list on his company website
A U.S. default triggered by the failure of politicians to agree to raising the country's debt ceiling would be an “act of collective insanity” with severe impact on asset prices and the global economy, according Citigroup Inc. economists.
U.S. exchange-traded funds took in $56.3 billion for the first half of this year, an increase of more than 50.9% from the first half of 2010.
Stricter regs could hurt carrier's core businesses; MetLife Bank accounts for mere 2% of earnings
Despite denials by Mutual Fund Store founder Adam Bold, sources claim the giant RIA is on the block. One says the firm is being valued at around $300 million.
