Genworth Financial Inc. kicked off the new year by firing approximately 1,000 of its 7,300 employees worldwide in an attempt to cut the insurer’s spending.
An analysis by PricewaterhouseCoopers of the outlook for corporate taxes warns that business could lose benefits in exchange for rate cut.
The new year promises to be a tough one for the U.S. life and health insurance sectors, according to an industry report card released today by Standard and Poor’s Ratings Services.
With the announcement last week of two new division chiefs, Fidelity Investments is continuing a trend of hiring outside talent for top jobs.
Britain’s FSA has fined international reinsurance giant Aon 5.25 million pounds ($7.9 million) for failing to maintain effective anti-bribery systems.
President-elect Barack Obama asked Congress to pass his proposed $1 trillion American Recovery and Reinvestment Plan quickly.
The Bank of England cut its benchmark interest rate by 0.5% to an all-time low of 1.5%, citing an “unusually sharp and synchronized downturn” in the world economy.
The leaders of three financial planning organizations have formed a coalition to represent the industry as Congress works to reform the financial services industry.
First-time jobless claims for unemployment benefits have fallen for the second consecutive week, according to a Department of Labor report.
Misclassification of workers as independent contractors remains on the list of top issues that the National Taxpayer Advocate recommends that Congress address.
Confidence among wealthy investors rebounded in December, though pessimism still lingers, according to a report from Spectrem Group.
Hard times aren’t over yet for The Goldman Sachs Group Inc. and Morgan Stanley, two investment banking powers that recently converted to bank holding companies.
Pennsylvania’s insurance commissioner yesterday seized control of Penn Treaty Network America Insurance Co., a foundering long term care insurer, because it’s having difficulty maintaining appropriate capital levels.
The U.S. equity market is likely to see a double-digit gain this year, while the economy shrinks by 2%, said .Robert C. Doll, vice chairman and chief equity investment officer of New York-based BlackRock Inc.
Cigna anticipates that most of the layoffs will be completed by the middle of this year and that all of the affected employees will be eligible for severance benefits and outplacement support.
