The Labor Department said Thursday that initial claims for unemployment compensation rose to a seasonally adjusted 640,000, up from a revised 613,000 the previous week. That was slightly above analysts' expectations of 635,000.
Swiss banking giant Credit Suisse on Thursday reported a first-quarter net profit of 2 billion Swiss francs ($1.72 billion), following a turnaround in its investment bank, which had previously been hit hard by the credit crunch.
Morningstar Inc. today released its annual list of best and worst Section 529 college savings plans.
The Hartford (Conn.) Financial Services Group Inc. has approached its rivals in recent weeks searching for a buyer for its property/casualty unit, Bloomberg reported.
Janus Capital Group Inc. today reported a first-quarter net income of $2.7 million, or $0.02 per share, representing a 65% decline from $7.8 million in income for the fourth quarter of 2008.
The International Monetary Fund projected the 1.3 percent drop in a dour forecast released Wednesday. That could leave at least 10 million more people around the world jobless, some private economists said.
Morgan Stanley says it lost $578 million, after paying preferred dividends, in the first quarter, hurt by the deteriorating commercial real estate market.
Wells Fargo & Co.'s first-quarter report on Wednesday had few big surprises, as results fell in line with the bank's forecast and easily beat Wall Street's estimates. But like most of its peers, the bank continues to post higher credit costs.
T. Rowe Price Group Inc. said Wednesday that reeling markets sent its first-quarter profit tumbling by more than two-thirds, and the investment manager announced plans to cut 288 jobs, or 5.5% of its work force.
Parent of Pershing and Dreyfus cuts dividend to nine cents a share from 24 cents, to save $700M a year.
Congressional oversight panel told of progress, including increases in the number of refinanced mortgages and signs that credit conditions have improved.
A critique of state regulatory missteps from The Allstate Corp.’s Tom Wilson, did not sit well with Michael T. McRaith, director of the Illinois Division of Insurance.
Executives at The Botsford Group are aiming to capitalize on the downturn in the markets, and the disruption it's caused in the financial advisory industry, by aggressively acquiring and hiring advisers in the coming months.
Jefferies Group Inc. swung to a first-quarter profit, beating Wall Street expectations, as the middle-market investment bank reported strong trading revenue growth.
Your clients have probably been asking about the estate tax because it is scheduled to sunset in 2010 and then rise again in 2011 at higher rates.
The Phoenix Cos. walked away from TARP assistance after a bank it was hoping to acquire failed and was seized by the Federal Deposit Insurance Corp.
