World stock markets fell while oil prices slipped again Wednesday amid mounting worries about the speed of any global economic recovery just as the U.S. second-quarter earnings kicks off.
Morgan Stanley last month suffered a $1 million loss in an arbitration case charging that the firm had “blindsided” a small regional broker-dealer, Strand Atkinson Williams & York Inc., “by a swift and crippling raid” of senior management and top-producing brokers.
Investors sent stocks falling as they wait for signals about where the economy is headed.
Societe Generale, France's second-largest bank, said Monday that its second quarter net income will be "slightly positive" thanks to its corporate and investment banking units.
European stock markets rose modestly today following late day-before gains on Wall Street — but the fifth straight retreat on Japan's main Nikkei index provided ample evidence that investor sentiment remains extremely fragile.
Oswald Grubel, who took over as UBS's chief executive officer in February, has elected not to sell the company's wealth management business here, despite speculation in recent months that he might offload this business.
A trade group's measure of the health of the U.S. services sector contracted less than expected in June, reaching its highest level in nine months.
Oil prices plunged nearly $3 to below $64 a barrel Monday as dismal unemployment figures from the U.S. and Europe last week sparked investor doubts about any nascent economic recovery.
Wells Fargo & Co. said today it has renamed its investment banking and capital markets businesses as Wells Fargo Securities.
Orders to U.S. factories jumped in May by the largest amount in nearly a year, further evidence that the nosedive in manufacturing is nearing an end.
Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy's road to recovery will be bumpy.
Another clearing firm bites the dust. Emmet A. Larkin Co. Inc. last month quietly shut down its back-office and clearing operations.
VSR Financial Services Inc., an independent broker-dealer based in Overland Park, Kan., has tapped Christopher Radford as its new chief executive.
Venture capital investments in green technologies rebounded in the second quarter, according to a report released by Greentech Media Inc., a Cambridge, Mass.-based online media and research firm.
Job losses continued to rise in June: 472,000 jobs were shed, compared to 380,000 jobs in May — a 24% increase, according to a report released today by TrimTabs Investment Research of Sausalito, Calif.
Construction spending fell more than expected in May, a sign the problems facing the nation's builders are far from over.
Legislators in more than a half-dozen states, their revenues evaporating in the recession, frantically worked to stave off government shutdowns and devastating service cuts.
Low-quality, beaten-down stocks played a role in driving many stock fund groups to the top percentile of performance in the most recent market rally, according to an analysis published by Morningstar Inc.
Concerns have stalled a three-month advance in the market that brought stocks up more than 30 percent off of 12-year lows reached in early March.
American International Group Inc. today sold most of its ownership in its Russian consumer bank subsidiary.
