New orders for manufactured durable goods sank $12.7 billion, or 6.2%, in October after a 0.2% decrease in September, the Department of Commerce reported today.
America’s top financial watchdogs need to make haste in addressing transparency challenges posed by complex securities products, NYSE Reg chief executive Richard Ketchum emphasized Tuesday in a speech at Hofstra University.
The number of Americans who filed for first-time jobless benefits fell by 14,000 to 529,000 in the week ended Nov. 22, according to the Department of Labor.
A former broker from GunnAllen Financial Inc. of Tampa, Fla., stole $1.3 million from at least 16 elderly clients in the past six years, according to the New Jersey Bureau of Securities.
Eaton Vance Corp. posted a 43% profit drop for its fiscal fourth quarter today after incurring $17.4 million in impairments stemming from the credit crunch.
The New York-based accounting firm yesterday paid the settlement in connection with its auditing service for Philadelphia-based Reliance Insurance Co., a carrier that’s now in liquidation.
High-net-worth donors relied more on lawyers and accountants for philanthropic advice than financial advisers in 2007, according to a survey released Monday by Bank of America.
The U.S. real gross domestic product declined to a revised 0.5% in the third quarter, marking its biggest drop in seven years, the Department of Commerce reported today.
The British government today announced a 20-billion-pound ($30 billion) stimulus plan to try to get the United Kingdom through its first recession in 17 years.
Ameritas Life Insurance Co. of Lincoln, Neb., will offer a new version of its new variable universal life policy Jan. 1 as the company tries to conform to new mortality tables.
Saying that the country faced an “economic crisis of historic proportions,” President-elect Barack Obama introduced the members of his economic advisory team this morning.
Investors and their advisers are rightfully concerned about running afoul of the wash sale rule and triggering a taxable event. As you know, a wash sale — as defined in Section 1091 of the Internal Revenue Code — occurs when an investor sells property at a loss and within 30 days acquires "substantially identical" property.
Even though alternative investments that follow hedge-fund-like strategies are currently frowned upon because of poor absolute performance, Nuveen Investments LLC is betting that such investments once again will be viewed favorably.
Job no. 1 for the Federal Reserve Board and the Department of the Treasury was to stabilize the capital markets.
As representatives from the American auto industry plead for a multibillion-dollar federal bailout, some financial advisers are already bracing for worst-case scenarios that could leave thousands of autoworkers, retirees and those working in related industries scrambling to fill retirement and health care funding gaps.
Now that the Federal Reserve Board has cut the federal funds rate to 1%, the focus needs to be on increasing liquidity, St. Louis Federal Reserve Bank president James Bullard said yesterday.
Roger W. Crandall, co-COO, executive vice president and chief investment officer, will take on the role of president, presently held by chairman and chief executive Stuart H. Reese.
