Britain’s FSA has fined international reinsurance giant Aon 5.25 million pounds ($7.9 million) for failing to maintain effective anti-bribery systems.
The Bank of England cut its benchmark interest rate by 0.5% to an all-time low of 1.5%, citing an “unusually sharp and synchronized downturn” in the world economy.
Here are three important portfolio survival lessons retired investors and their advisers can learn from Wall Street’s failures.
President-elect Barack Obama asked Congress to pass his proposed $1 trillion American Recovery and Reinvestment Plan quickly.
Arguing that Bernard L. Madoff is a “danger to the community,” prosecutors recommended that he be held in jail pending his trial.
The leaders of three financial planning organizations have formed a coalition to represent the industry as Congress works to reform the financial services industry.
First-time jobless claims for unemployment benefits have fallen for the second consecutive week, according to a Department of Labor report.
Hard times aren’t over yet for The Goldman Sachs Group Inc. and Morgan Stanley, two investment banking powers that recently converted to bank holding companies.
President-elect Barack Obama intends to retain FDIC Chairman Sheila C. Bair in her post, Democratic Party officials told The Wall Street Journal.
Pennsylvania’s insurance commissioner yesterday seized control of Penn Treaty Network America Insurance Co., a foundering long term care insurer, because it’s having difficulty maintaining appropriate capital levels.
Just 10 days before his arrest, Bernard Madoff received $250 million from a financial backer in an apparent bid to prevent the collapse of his firm.
Confidence among wealthy investors rebounded in December, though pessimism still lingers, according to a report from Spectrem Group.
The U.S. equity market is likely to see a double-digit gain this year, while the economy shrinks by 2%, said .Robert C. Doll, vice chairman and chief equity investment officer of New York-based BlackRock Inc.
Cigna anticipates that most of the layoffs will be completed by the middle of this year and that all of the affected employees will be eligible for severance benefits and outplacement support.
Clients of Raymond James Financial Inc. who are stuck holding $1 billion of auction rate securities will have to hang onto the paper for months to come, even though several large firms have announced buybacks.
The Municipal Securities Rulemaking Board on Friday proposed a partial delay in the launch of its new transparency system for short-term securities after many in the industry said they need more time to implement the system.
