Broadridge Financial Solutions Inc., the brokerage services firm spun off by Automatic Data Processing Inc., is selling its securities clearing business to Penson Worldwide Inc. and its Penson Financial Services Inc. subsidiary.
Investors sidestepped some of their doubts about the strength of an economic recovery and pushed into energy, industrial and materials stocks as commodity prices rose.
Stocks are snapping back from Friday's big losses as stronger-than-expected reports on manufacturing and housing allay concerns that the economy's recovery won't last.
The bankruptcy of a key lender that helps retailers stock their shelves is adding to the industry's worries ahead of the critical holiday shopping season.
Hopes for the fledgling economic recovery got a boost Monday from better-than-expected news on manufacturing, construction and contracts to buy homes.
Penson Worldwide has agreed to buy the clearing contracts of Broadridge Financial Solutions for $60-$70 million as part of a new partnership the two firms revealed Monday evening.
A former securities broker has pleaded guilty to charges he helped a prominent Manhattan lawyer dupe hedge funds into making bogus investments.
A panel of life insurance company chief executives last week assessed how the industry has dealt with the financial crisis, debating the merits of mutual companies versus stock companies.
Kenneth Feinberg, President Obama's “pay czar,” last week capped and restructured the salaries of top executives at seven embattled corporations that have not yet repaid the help they received from the federal government last year.
RBC Wealth Management has recruited a pair of financial advisers from U.S. Trust Wealth Management, where they ran some $450 million in client assets.
Economist, lawyer and deadpan comedian Ben Stein doesn't find much humor in the way the federal government is handling the economic crisis.
Most money managers who strive to be tax-efficient harvest losses year-round.
So you think only ordinary people have financial troubles?
There's plenty of money-making opportunities right here in the USA, despite the sluggish economy, according to some industry observers.
Investment advisers, state regulators and consumer advocates were astonished by the easy adoption of a key addition to the Investor Protection Act that would give Finra power to oversee any adviser associated with a registered broker-dealer, including about 500 dually registered Finra members.
In the months since purchasing the Chicago Cubs in a highly leveraged, $845-million deal, new owner Tom Ricketts has used his investment banking experience to shore up the team's financial structure, securing major funding from investors who rarely dabble in sports franchises.
After a record four straight losing quarters, the economy finally grew again. It was hardly a boom, and it was almost all because of government spending. But it was enough to change the question from when the recession will end to whether the recovery will hold.
Employment costs rose by the smallest amount on record in the 12 months ending in September, as high unemployment restrained wage and benefit growth.
The White House says new job numbers will show the president's economic stimulus plan has directly created or saved about 650,000 jobs.
Consumer spending plunged in September by the largest amount in nine months, reflecting the end of the government's Cash for Clunkers auto sales program. Incomes, the fuel for future spending, were flat.
