Home and auto lender GMAC Financial Services said Thursday it lost $5 billion in the last three months of 2009, as losses from its mortgage operations kept the company in the red for another quarter.
Prosecutors say a Utah man tried to hire a hit man to kill witnesses in a fraud case against him by dictating a letter from jail by Morse code.
Employment is now job one at the White House.
The battle for brokers, which led scores of reps to hop from one wirehouse to another in early 2009, came to a grinding halt at end of the year — a development that could last for years, according to James Gorman, new chief executive at Morgan Stanley & Co.
Morgan Stanley says it earned $617 million during the last three months of 2009 as its investment banking operations profited from its Smith Barney joint venture.
Despite the market's lukewarm reception to John Hancock's slimmed-down variable annuity, other insurers continue to introduce competing products aimed at financial advisers who have usually sidestepped such VAs.
ING plans to replace its traditional variable annuity offering with a simplified VA product that comes with a scaled-back commission.
Citigroup Inc. and Wells Fargo & Co. are seeking to repay billions in federal bailout aid but so far haven't received permission from the government, people familiar with the talks told The Associated Press.
At crisis' edge last year, they are repaying billions of dollars dumped into their vaults to rescue them. Dividend checks are accumulating at the Treasury. Taxpayers won't recoup the full sum of the government's unprecedented infusion to the financial sector, but the returns are ahead of schedule.
As the rest of the investment world gravitates toward red-hot emerging markets, Abhay Deshpande, co-manager of First Eagle Global Fund, is asserting that Japan actually may be the place to invest.
Don't miss an opportunity to communicate your service levels to clients and prospects.
A good-government group is asking Congress to rethink the concept of self-regulation.
Gregory J. Fleming, who took the helm of Morgan Stanley Investment Management earlier this month, has nabbed two big names to boost the firm's invesment management biz
The humble variable annuity is gaining in popularity
Guggenheim Partners LLC, an investment firm founded by the famous family for which it is named, said last week that it is acquiring Security Benefit Corp. — and with it Rydex SGI.
You need to be prepared to reassure nervous clients with sound advice and analysis.
For most investors, not having access to their money is a drawback.
A bill has been introduced in the Washington state legislature that would double estate taxes for residents.
The Senate this week begins debate on its version of a financial-reform bill.
Nationwide Financial Services Inc. yesterday bumped up its variable annuity living benefits, signaling a return — for some carriers — to the generous benefits that backfired on insurers when the stock market imploded in 2008.
