In November 2008, many investors believed we were on the edge of financial disaster. Panic was sweeping Wall Street and Main Street. The global economy was in disarray. Now, a little more than a year later, stock market values have rebounded sharply, frozen credit markets are now flowing more freely, and there is greater liquidity in the financial -system.
The news that Sen. Christopher Dodd of Connecticut will not seek re-election this fall is a welcome development for both the nation's most powerful banking regulator, Federal Reserve Chairman Ben Bernanke, and its toughest, Federal Deposit Insurance Corp. Chief Sheila Bair.
A year after Wall Street failures plunged the nation into recession, the House on Friday passed the most ambitious restructuring of financial regulation since the New Deal.
Kuwait's sovereign wealth fund said Sunday it booked a profit of $1.1 billion by selling the stake it took in Citigroup Inc. less than two years ago when the banking giant was strapped for cash.
Jacques Perold was named head of Fidelity Investments' $1.4 billion asset management group, which includes Pyramis Global Advisors, said Vincent Loporchio, spokesman.
A Utah judge has thrown out a lawsuit filed by two former financial advisers accusing state regulators of violating their constitutional rights by bringing securities violations against them without proof of wrongdoing.
The U.S. Supreme Court today rejected a review of the dismissal of a lawsuit against Deere & Co. and two Fidelity Investments units, claiming unreasonable fees were charged for investment options in Deere's $3.1 billion 401(k) plan.
RBC Capital Markets, the investment banking arm of Royal Bank of Canada, announced Tuesday the appointment of Blair Fleming as head of U.S. investment banking.
The natural-resources sector may still be a winning bet, despite concerns that the prices of stocks focusing on commodities and resources have run up too fast in an economic environment where demand is still slack and inventories remain high.
The actively managed exchange-traded-fund market is expected to explode as top mutual fund companies consider entering the business or expand their lineups.
Focus Financial Partners, which recently completed a $50 million recapitalization to meet debt obligations and revive its business of buying interests in wealth management firms, confirmed today that it has made LLBH Private Wealth Management a full partner firm. As a partner, LLBH gets a combination of cash and equity units in Focus in exchange for giving the parent company a preferential interest in a portion of its annual revenue.
Discount brokers lost a vote of confidence from equity analysts at Goldman Sachs Group on Monday. In a report, Goldman cut its recommendation on TD Ameritrade Holding Corp. (AMTD) to neutral from buy, and lowered its price target to $21 from $24. It kept its ratings on The Charles Schwab Corp. (SCHW) and E*Trade Financial Corp. (ETFC) at “sell” and “buy,” respectively, but lowered its target prices on those firms and also on discount brokers OptionsXpress (OXPS) and TradeStation Group (TRAD).
Almost a year after a court dismissed a complaint against Wal-Mart over its 401(k) plan fees, the 8th U.S. Circuit Court of Appeals has brought the case back into play.
In the next two weeks, members of Congress are expected to decide on the fate of legislation that would have severe implications for every firm that advised 401(k) plan participants, or planned to.
Focus Financial Partners LLC, which calls itself “the leading partnership of independent wealth management firms,” confirmed Monday that it is buying a stake in Joel Isaacson & Co. Inc.
As any stockbroker knows, it isn't just online and institutional brokers that offer discounts.
Royal Bank of Canada today said that it will buy, for an undisclosed sum, JPMorgan Chase & Co.'s servicing business for third-party registered investment advisers.
The world economy is recovering at a healthy pace but still needs government stimulus efforts to keep it going, the International Monetary Fund said Tuesday.
World stock markets fell Tuesday as Japan Airlines filed for bankruptcy protection and investors awaited a raft of fourth-quarter U.S. corporate earnings with a degree of unease following a fairly mixed start to the results season.
