Several wirehouse firms have begun pushing their financial advisers to talk to clients in more depth about health care issues in retirement, but at least one firm, UBS Financial Services Inc., is avoiding the topic because of liability concerns.
MBIA is bracing for more write-downs and Ambac has been given more time to justify its triple-A rating from Moody’s.
The Dow Jones lost more than 300 points after the insurer reported dismal quarterly results.
A slight January increase in personal income was overshadowed by rising inflation, according to the Commerce Department.
FMR, the parent company of Fidelity, reported a 15% increase in assets under management for 2007.
West Virginia today passed legislation to prevent the settlement of stranger-oriented life insurance policies.
The rule would increase protection for employee contributions to pension and welfare-benefits plans for smaller firms.
Old Mutual Asset Management reported $332.6 billion in assets under management as of Dec. 31.
“I don’t anticipate ‘stagflation’ ... anywhere near the situation that prevailed in the 1970s,” the Fed chief told Congress.
The news comes less than a month after analyst at Lehman and Deutsche owered their Q1 estimates for Goldman.
The lackluster showing in the GDP, down from a 4.9% increase in the third quarter, was due mainly to drops in residential investment, government spending and inventory investment.
The dollar fell to $1.5088 per euro, the lowest since level the European single currency's debut in 1999.
Orders for durable goods fell 5.3% in January, a decrease of $12 billion, according to a report released by the U.S. Department of Commerce.
“The economic situation has become distinctly less favorable,” Fed chairman Ben Bernanke told Congress.
Standard & Poor’s/Case-Shiller national home-price index fell 8.9% in the fourth quarter from the year-ago period.
Ted Mathas has been named the firm’s chief executive officer-elect and will succeed Sy Sternberg.
Flagging consumer confidence comes as inflation spiked, with prices rising 1% in the past month.
Only 36% of respondents in a survey knew that Medicare eligibility begins at age 65.
