The former fund manager — and current Boston Red Sox minority owner — acquires the NHL's Tampa Bay Lightning for a reported $110M. That's about half what the previous owners paid for the team.
Fidelity Investments said Thursday its operating profit rose 5 percent last year, boosted in part by job cuts, as revenue continued to lag after two years of unusual volatility in financial markets.
The Charles Schwab Corp. has begun calling clients of some registered investment advisers to verify that they have authorized wire transfers of funds from accounts held in custody at the broker-dealer.
Fee income from annuity sales climbed at bank holding companies during the first three quarters of 2009, but sales of fixed annuities in the bank channel slipped, according to two separate studies released last week.
The stock price of The Charles Schwab Corp. fell 2.5% to $18.81 in after-hours trading after the company announced plans to sell more than 26 million shares of common stock. The discount broker and leading custodian for registered investment advisers also reported that its fourth-quarter net income fell 47% from the year-earlier period to $164 million. Schwab last month signaled that it would report weaker results.
Financial advisers and branch managers chose American Funds as the firm which best meets their needs for marketing materials, according to a study released today by Financial Research Corp.
After two successive profitable quarters, the besieged insurer reports a loss of nearly $9B in the fourth quarter.
Why one PM says the price of gold will double to more than $2,500 an ounce over the next 10 years.
The Certified Financial Planner Board of Standards Inc on Friday placed Oren Eugene Sullivan Jr. under interim suspension, keeping the ex-broker from using its credentials.
In a huge blow to SagePoint Financial Inc., one of three broker-dealers that make up the AIG Advisor Group Inc., its largest branch of reps and advisers is walking out the door following a bitter dispute over the latter's role and future at SagePoint.
For investors holding shares in Berkshire Hathaway Inc., Friday might be a very lucrative day. Today marks the last trading day before Warren Buffet's investment vehicle gets added to the S&P 500. Berkshire's listing in the benchmark index commences Tuesday, the next trading day for U.S. markets.
American International Group Inc. is launching a plan to revamp how it arrives at incentive pay for its workers, according to the NY Times.
MetLife Inc. is in the final stages of talks with American International Group Inc. about a deal to buy AIG subsidiary American Life Insurance Co. for about $8 billion in stock and access a bridge loan, according to published reports.
Shares of MetLife slid Wednesday, a day after the insurer confirmed that it's in talks with American International Group Inc. about buying the American Life Insurance Company.
American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees of its financial products division, the unit whose risky bets helped sink the company leading to a $180 billion government bailout, according to reports published Tuesday.
It's the spoiled brat market. Dozens of companies this past month posted blow-out earnings but instead of being thankful, investors stomped their feet and sold. The result: The Dow Jones industrial average fell 3.5 percent in January, the worst month for stocks since the depths of the bear market last year.
Citigroup Inc. is ready to start growing again in Japan. The company said Tuesday it will open four retail branches this year, marking the banking giant's first expansion here since selling several of its Japanese finance businesses in the wake of the global financial crisis.
Bank of New York Mellon Corp. says it is acquiring the global investment servicing business of PNC Financial Services Group Inc. for $2.31 billion in cash.
Bowing to the political clout of the insurance and securities industries, the Financial Planning Coalition has given up its effort to get Congress to establish a definition of financial planning that would have brought thousands of insurance and securities brokers and money managers under the sway of an oversight board that the FPC seeks to create.
