Ambac posted a third-quarter loss of $2.43 billion, or $8.45 per share, as it set aside $3 billion to cover anticipated claims.
Transit authorities, which are now facing about $4 billion in fees for AIG-backed tax shelters, are reaching out to the government for help, according to The New York Times.
UBS AG reported today a third-quarter net profit of 296 million Swiss francs ($252 million) after losing 858 million francs in the year-ago period.
The Hartford (Conn.) Financial Services Group Inc. has announced that it will lay off 500 employees — about 1.6% of its total work force — this month, citing falling revenue and investment losses.
Suppose one of your clients received a large amount of stock in the New York-based Metropolitan Life Insurance Co. when MetLife converted from mutual to public ownership in 2000.
The Hartford (Conn.) Financial Services Group Inc. today reassured the public that it indeed has sufficient capital — though it is lower than previously forecasted.
The European Commission today said that the European Union countries probably are in the midst of a recession and that the outlook for 2009 growth is dim.
The manufacturing industry slumped for the second consecutive month in October as the economy continued to feel the pull of the credit crisis, according to a report by the Institute for Supply Management.
The total payout for 2009 reflects a dividend interest rate of 7.6% on new eligible participating life insurance policies.
Innovative long term care insurance products are on the horizon as the industry seeks to appeal to more clients.
Seven in 10 financial advisers prefer working for a nationally recognized company over an independent advisory firm, according to a yet-to-be-released survey.
The following edited transcript is from "The Art of Actively Trading ETFs," an InvestmentNews webcast held Oct. 21.
Advisers tell me that broker-dealers are not created equal when it comes to technology support.
Regional and independent brokers such as LPL Financial, D.A. Davidson & Co., Raymond James Financial Inc. and Stifel Financial Corp. are thriving while brawnier brokers struggle, but the firms' executives have deep concerns even as they rev up their recruiting.
Confidence among U.S. consumers declined sharply in October as Americans continued to grow more pessimistic about the prospects for the economy.
The Chicago-based firm’s third-quarter net income was up 12% to $22.2 million, or 45 cents per share, compared with $19.9 million, or 41 cents per share, in the year-ago period.
The world’s second-largest insurance broker, Aon Corp., saw its net income decrease 43% to $117 million, or $0.40 per share, in the third quarter, compared with $204 million, or $0.64 per share, in the year-earlier period.
Consumer spending declined 0.3% in September in yet another sign that the economic slump is battering consumers, according to the Department of Commerce.
The stock price of The Hartford (Conn.) Financial Services Group Inc. dipped by more than half yesterday, following the company’s release of dismal third-quarter results.
