The Commerce Department says consumers boosted their spending 0.4 percent, slightly ahead of analysts' estimates. That comes after spending rose 0.1 percent in May.
GMAC Financial Services, which provides both automotive and home loans, says it posted a wider second-quarter loss of $3.9 billion as it transformed from an arm of General Motors Co. into an independent bank.
IntercontinentalExchange Inc. reported today its second-quarter profit slipped 15 percent as it recorded a special charge on an investment in an Indian exchange and costs tied to acquisition last year of credit-derivatives processor Creditex.
Hard-hit Swiss bank UBS AG reported another quarterly loss today while France's BNP Paribas posted a 6.6 percent increase in net profit.
Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service.
Bank holding companies raked in $3.03 billion in insurance brokerage fee income during the first quarter, down from $3.21 billion a year earlier, according to a report.
Americans' personal savings rate slipped to 4.6% in June, from 6.2% the previous month, the Department of Commerce's Bureau of Economic Analysis reported today.
Natixis Global Associates, in conjunction with the AlphaSimplex Group LLC, has launched a multistrategy absolute return fund, Natixis announced today.
Banking group Barclays PLC said today that first-half net profit increased 10 percent as stronger earnings from its expanded investment banking division outweighed an increase in bad loans.
A private-sector measure of U.S. manufacturing activity declined last month at the slowest pace since August. Production jumped to its highest level in more than two years as manufacturers worked to restock customers' bare shelves, another sign that the recession may soon be over.
HSBC Holdings PLC, the world's fifth-largest bank by assets, reported a 57% fall in first-half profit as bad loans increased due to the global economic downturn.
Higher assessments by the Securities Investor Protection Corp. are shocking some brokerage firms.
MetLife Inc. ended the second quarter in the red, reporting a net loss of $1.4 billion, or $1.74 per share.
With major equity indexes soaring past their high-water mark for 2009, advisers now seem to agree that the markets have hit their bottom. How long they will continue in positive territory, however, is up for speculation.
Congress wants to give the government a direct role in deciding how much executives on Wall Street are paid, after the nation's biggest banks accepted billions in taxpayer money and still managed to distribute $1 million bonuses to thousands of employees.
Foothill Securities Inc. an employee-owned broker-dealer based in Mountain View, California, is merging with Cue Financial Group Inc., a smaller independent firm based in Phoenix.
Annuities will continue to take a back seat to other insurance and wealth management products at Genworth Financial, according to the insurer's finance chief.
The House voted today to slap restrictions on how Wall Street executives are paid after nine banks that took government aid rewarded thousands of their employees with bonuses topping $1 million each.
The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, a new government report shows. It was a better-than-expected showing that provided the strongest signal yet that the longest recession since World War II is finally winding down.
