Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said Wall Street is like a church that benefits society, then falters by operating a gambling venture on the side.
Berkshire Hathaway boss all pumped up about U.S. economy; 'night and day' from a year ago
Billionaire investor says now is the time to get into the market; commodity producers particularly attractive
The next five years will be tough, as homeowners and governments unwind debt built up during the housing boom, Berkshire Hathaway Inc.'s David Sokol said today.
Morgan Stanley, owner of the world's largest brokerage, will pay $800,000 to settle regulatory claims that it didn't disclose research analysts' conflicts of interest to investors.
Just days after the financial-regulatory-reform law was signed, the Securities and Exchange Commission issued a request for public comment on a provision addressing the standard of care for investment advice.
UBS AG, the largest Swiss bank, will seek to reverse a ruling requiring it to pay a U.S. company for business lost when its funds were tied up during the collapse of the auction-rate securities market two years ago.
Citi Private Bank, the private-banking unit of Citigroup Inc., continues its aggressive recruiting from U.S. Trust and has now lured a total of 10 bankers from the Bank of America unit since the end of April.
U.S. Trust Corp., the private banking unit of Bank of America Corp., has hired five senior-level wealth management experts as part of the firm's bid to hire more than 200 advisers and bankers this year.
By some measures, deflation in the United States is no longer a question of if, but for how long and how deep.
An advertising agency that has bolstered the images of Fidelity Investments and Progressive Casualty Insurance Corp. is brainstorming about how to help financial planning achieve the same visibility.
Federal regulators say it was too good to be true: A Detroit-area woman is accused of collecting more than $1 million from investors who were told they would earn at least 10 percent a month.
<i>The following is an excerpt from the weekly investment outlook of Jeffry Saut, the managing director and chief investment strategist at Raymond James, for the week of August 2:</i>
At least one group of financial advisers is hoping that the landmark financial-reform legislation will lead to more government oversight of the advice business.
Finra, whose rules-based approach to oversight of brokers is anathema to many financial advisers, could expand its jurisdiction as a result of the new Dodd-Frank Wall Street Reform and Consumer Protection Act
Groups argue the Harkin amendment would undermine the goal of strengthening the standard of care for investors.
It's usually very quiet in Washington in August. But over at the SEC, the late-summer calm has given way to a loud din as lobbyists battle over the standard of care for investors.
The second quarter opened up with high hopes and generally positive expectations for the remainder of the year.
Annuity sales skyrocketed during the second quarter at Prudential Financial Inc., thanks to a push to expand distribution relationships in the bank and wirehouse channels.
The recession of 2008-2009 now looks even deeper with a 4.1% drop in output from peak to trough, compared to an originally estimated 3.8% decline.
