New York Life Insurance Co. said it won’t participate in the Department of the Treasury’s capital-purchase program.
The U.S. economy is in a recession that “will likely last longer and run much deeper than either of the two previous economic crises.
The incoming Obama administration is likely to act quickly to kill the Bush tax cuts for households with incomes over $250,000 a year, and they may move to make any new tax law retroactive to Jan. 1, 2009.
Blackstone Group LP and Conseco Inc. posted third-quarter losses while the Nasdaq Stock Market Inc. and Man Group PLC reported profit drops in financial statements issued today and yesterday.
The outlook of Cigna Corp., a Philadelphia-based health insurer, has been downgraded to “negative” by Standard and Poor’s of New York.
Nationwide Financial Services Inc. of Columbus, Ohio, will remain on CreditWatch “negative,” Standard and Poor’s Ratings Services of New York said today.
Running on New York-area news radio stations these days is a commercial for a municipal bond offering by a special-purpose New York City taxing authority.
U.S. companies in the private sector lost 157,000 jobs in October, according to the monthly ADP National Employment Report, released today.
Ambac posted a third-quarter loss of $2.43 billion, or $8.45 per share, as it set aside $3 billion to cover anticipated claims.
The Hartford (Conn.) Financial Services Group Inc. has announced that it will lay off 500 employees — about 1.6% of its total work force — this month, citing falling revenue and investment losses.
UBS AG reported today a third-quarter net profit of 296 million Swiss francs ($252 million) after losing 858 million francs in the year-ago period.
The European Commission today said that the European Union countries probably are in the midst of a recession and that the outlook for 2009 growth is dim.
The Hartford (Conn.) Financial Services Group Inc. today reassured the public that it indeed has sufficient capital — though it is lower than previously forecasted.
The total payout for 2009 reflects a dividend interest rate of 7.6% on new eligible participating life insurance policies.
The manufacturing industry slumped for the second consecutive month in October as the economy continued to feel the pull of the credit crisis, according to a report by the Institute for Supply Management.
Many institutions and individuals share responsibility for the mortgage crisis and the meltdown that followed: Congress, several successive presidential administrations, top executives at Fannie Mae
By now, even the most ardent advocates of asset allocation have to be asking themselves whether they should just go to cash and wait for saner times.
Innovative long term care insurance products are on the horizon as the industry seeks to appeal to more clients.
The Securities and Exchange Commission is expected to approve a controversial rule that would make dismissing arbitration cases more difficult.
