A California couple has filed suit against The Variable Annuity Life Insurance Co., an American International Group Inc. subsidiary, claiming that the company's sales agents misled investors about the tax advantages of using variable annuities in qualified retirement plans.
American International Group says it has slashed the amount of money it owes the government by $25 billion after moving two subsidiaries into special holding units ahead of their planned spinoffs or sale.
The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected.
Benjamin F. Edwards & Co. has hired former hockey star Blake Dunlop to run its newly opened St. Louis branch.
Stock futures rose modestly Thursday, a day after President Barack Obama said the government should take new actions to bolster the economy and create jobs.
European stock markets continued to trade lower Monday following steep losses in the U.S. at the end of last week. Wall Street, however, regained some ground at the open even as concerns lingered about President Barack Obama's plan to curb banks' risk-taking.
European stock markets fell Monday as expectations for a rebound on Wall Street diminished amid ongoing concerns about President Barack Obama's plan to curb bank risk-taking.
Bank of New York Mellon says its fourth-quarter profit surged as asset and wealth management revenue offset lower interest income.
JPMorgan Chase & Co. said Friday it earned $3.28 billion in the last three months of 2009, extending a winning streak for big U.S. banks.
The Securities and Exchange Commission has obtained an emergency court order freezing the assets of a Minneapolis money manager and a nationally syndicated radio personality for allegedly operating a foreign-currency-trading scheme.
Nationwide Financial Network, the sales and marketing arm of Nationwide Mutual Insurance Co., has pushed back by three months the previous deadline for 200 independent financial advisers to find new broker-dealers.
SunAmerica Retirement Markets Inc., the AIG subsidiary, has released two new variable annuity riders — and the company vows to compete with rival carriers to grab advisers' attention.
Two major life insurers are providing disaster relief to Haiti by making donations to the earthquake-ravaged republic.
BrightScope Inc., a provider of 401(k) plan ratings, last week introduced an online tool that provides investors and financial advisers with personalized data about how much they are paying in fees in retirement plans.
Focus Financial Partners, armed with $50 million in new capital from private-equity backers, said last week that it has bought an interest in Bridgewater Wealth and Financial Management LLC.
The hearings of the Financial Crisis Inquiry Commission are off to a poor start, generating a whole lot of heat but not much light. If its chairman, Philip Angelides, and the other members of the commission don't
To say merely that the world economy is much better than it was just 12 months ago would be to greatly understate how far we've come in stabilizing the global financial system.
