The Labor Department said Thursday that initial claims for unemployment compensation rose to a seasonally adjusted 640,000, up from a revised 613,000 the previous week. That was slightly above analysts' expectations of 635,000.
Two members of the Senate Banking Committee today called on federal regulators to implement an emergency freeze on credit card interest rates.
The Securities and Exchange Commission today charged William L. Gunlicks and his firm, Founding Partners Capital Management Co. of Naples, Fla., with misrepresenting the investments the firm made through a series of partnerships that buy hospital receivables.
House Republicans on Wednesday introduced legislation that would lift the ceiling on retirement savings account contributions.
The Hartford (Conn.) Financial Services Group Inc. has approached its rivals in recent weeks searching for a buyer for its property/casualty unit, Bloomberg reported.
Janus Capital Group Inc. today reported a first-quarter net income of $2.7 million, or $0.02 per share, representing a 65% decline from $7.8 million in income for the fourth quarter of 2008.
Morningstar Inc. today released its annual list of best and worst Section 529 college savings plans.
Swiss banking giant Credit Suisse on Thursday reported a first-quarter net profit of 2 billion Swiss francs ($1.72 billion), following a turnaround in its investment bank, which had previously been hit hard by the credit crunch.
The International Monetary Fund projected the 1.3 percent drop in a dour forecast released Wednesday. That could leave at least 10 million more people around the world jobless, some private economists said.
Morgan Stanley says it lost $578 million, after paying preferred dividends, in the first quarter, hurt by the deteriorating commercial real estate market.
T. Rowe Price Group Inc. said Wednesday that reeling markets sent its first-quarter profit tumbling by more than two-thirds, and the investment manager announced plans to cut 288 jobs, or 5.5% of its work force.
Wells Fargo & Co.'s first-quarter report on Wednesday had few big surprises, as results fell in line with the bank's forecast and easily beat Wall Street's estimates. But like most of its peers, the bank continues to post higher credit costs.
Congressional oversight panel told of progress, including increases in the number of refinanced mortgages and signs that credit conditions have improved.
Executives at The Botsford Group are aiming to capitalize on the downturn in the markets, and the disruption it's caused in the financial advisory industry, by aggressively acquiring and hiring advisers in the coming months.
Parent of Pershing and Dreyfus cuts dividend to nine cents a share from 24 cents, to save $700M a year.
A critique of state regulatory missteps from The Allstate Corp.’s Tom Wilson, did not sit well with Michael T. McRaith, director of the Illinois Division of Insurance.
