New York Attorney General Andrew Cuomo’s probe into the industry's selling of auction rate securities has widened.
Younger workers are saving for retirement but fear that they aren't saving enough and that benefits such as Social Security will be cut before they are ready to retire, according to a new study.
Products that combine equity exposure, income generation and volatility protection may grow more popular among advisers, according to a retirement product executive.
Whether done voluntarily, as in the case of Merrill Lynch, or as the result of settlements with regulators, as with Citigroup, JPMorgan Chase, Morgan Stanley, UBS and Wachovia, the buy-backs of failed auction rate securities that giant Wall Street firms have agreed to undertake are significant.
New York Attorney General Andrew Cuomo will investigate Merrill's connection with the freezing of the ARS market.
The dollar continued its rise, gaining ground against the euro and rising to a nearly two-year high against the British pound.
Missouri securities regulators spearheaded the investigation into the firm's role in the market's February collapse.
The Reuters/University of Michigan survey fell to a reading of 61.7 in August, compared with 61.2 in June.
U.S. industrial production increased 0.2% in July following a 0.4% jump in June, according to the Fed.
Over the past 12 months, the annual inflation rate has risen 5.6%, marking the largest increase since January 1991.
The firm is accused of misleading an issuer of student loans in that state by urging it to buy auction rate securities.
The firms will buy back a total of about $7 billion of auction rate securities from retail investors.
H&R Block's more than 900 brokers and advisers will be added to Ameriprise's employee platform.
The amount of money that employees paid in to their defined contribution plans in the first half of 2008 increased.
ING Groep recorded a 25% decline in profits as it dealt with weak financial markets and write-downs from subprime mortgages.
July retail sales dipped 0.1% after rising 0.3% in June, with the drop attributed to a 2.4% decline in the automotive industry.
In an unexpected move, the nation's trade imbalance in June fell to $56.8 billion, a 4.1% decline.
Walter A. Bell, Alabama’s insurance commissioner, announced that he will step down at the end of the month.
Conseco said that it plans to transfer Conseco Senior Health Insurance, its long-term care unit, to an independent trust.
The bank will separate its investment banking, global asset management and wealth management units.
