The next five years will be tough, as homeowners and governments unwind debt built up during the housing boom, Berkshire Hathaway Inc.'s David Sokol said today.
Morgan Stanley, owner of the world's largest brokerage, will pay $800,000 to settle regulatory claims that it didn't disclose research analysts' conflicts of interest to investors.
UBS AG, the largest Swiss bank, will seek to reverse a ruling requiring it to pay a U.S. company for business lost when its funds were tied up during the collapse of the auction-rate securities market two years ago.
Citi Private Bank, the private-banking unit of Citigroup Inc., continues its aggressive recruiting from U.S. Trust and has now lured a total of 10 bankers from the Bank of America unit since the end of April.
U.S. Trust Corp., the private banking unit of Bank of America Corp., has hired five senior-level wealth management experts as part of the firm's bid to hire more than 200 advisers and bankers this year.
By some measures, deflation in the United States is no longer a question of if, but for how long and how deep.
An advertising agency that has bolstered the images of Fidelity Investments and Progressive Casualty Insurance Corp. is brainstorming about how to help financial planning achieve the same visibility.
<i>The following is an excerpt from the weekly investment outlook of Jeffry Saut, the managing director and chief investment strategist at Raymond James, for the week of August 2:</i>
Groups argue the Harkin amendment would undermine the goal of strengthening the standard of care for investors.
The second quarter opened up with high hopes and generally positive expectations for the remainder of the year.
There is plenty of uncertainty surrounding the estate tax. The only sure thing is that Congress will punt the issue to next month — or perhaps beyond the fall elections. Nevertheless, a rough picture of what will happen is starting to emerge.
For years, wealthy retirees from high-tax states in the Northeast and Midwest have been streaming to sunny, low-tax Florida. That stream is now turning into a flood.
Annuity sales skyrocketed during the second quarter at Prudential Financial Inc., thanks to a push to expand distribution relationships in the bank and wirehouse channels.
The recession of 2008-2009 now looks even deeper with a 4.1% drop in output from peak to trough, compared to an originally estimated 3.8% decline.
In some ways, this week will mark the end of the first chapter of the economic recovery.
To paraphrase Procol Harum, for many observers, the economic recovery, which had looked a bit ghostly, just turned a whiter shade of pale.
Berkshire Hathaway Inc., the company run by billionaire Warren Buffett, may have to set aside $8 billion in collateral for derivatives under proposed changes to U.S. financial regulations, a Barclays Capital analyst said.
MetLife stays at the top, with Prudential and TIAA-CREF right behind
The oracle's yearly note to Berkshire-Hathaway shareholders was once a big event in investor circles. Now, it's lost its luster. Blame familiarity.
