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.
Ross Mandell, chief executive of Sky Capital Holdings Ltd. of New York, and five other individuals turned themselves in to the FBI this morning and will be charged with securities fraud, according to published reports.
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.
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.
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.
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.
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.
Wells Fargo & Co. said today it has renamed its investment banking and capital markets businesses as Wells Fargo Securities.
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.
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.
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.
VSR Financial Services Inc., an independent broker-dealer based in Overland Park, Kan., has tapped Christopher Radford as its new chief executive.
Another clearing firm bites the dust. Emmet A. Larkin Co. Inc. last month quietly shut down its back-office and clearing operations.
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.
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.
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.
Construction spending fell more than expected in May, a sign the problems facing the nation's builders are far from over.
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.
