Wall Street firms pride themselves on hiring the best and the brightest, yet they constantly do dumb things in pursuit of profits that bring the whole financial industry into disrepute.
After gaining an average of 13.9% last year, managed-futures funds have come back down to earth this year as their managers sit with cash and look for signs of a discernable market trend.
The painful process of recovering from investment fraud is being eased by recently issued IRS guidelines that accountants and tax experts say will greatly benefit fraud victims.
New York Gov. David A. Paterson has named James J. Wrynn the state's superintendent of insurance.
It was listed for $26 million, but bond guru Bill Gross bought a bay-facing home on Harbor Island in Newport Beach, Calif., for $23 million, according to reports.
Meredith Whitney Advisory Group LLC has announced that it has wrapped up its purchase of Seegal Benson Leucadia Securities LLC, a New York-based broker dealer.
The Hartford (Conn.) Financial Services Group Inc. has named Dan Guilbert chief actuary of Hartford Life Insurance Co.
Having already added nearly 300 financial advisers in the first six months of the year, Stifel Financial Corp. is now poised to add another 350 new advisers — at least — in the second half of 2009.
Massachusetts Mutual Life Insurance Co. made another round of job cuts this week in its Connecticut and Massachusetts offices, a spokesman said.
Last month's daily average volume of 291,100 trades also fell compared with June of this year, with a decline of 8 percent on that basis.
The Fed says industrial production rose 0.5 percent in July, after falling in 17 of the previous 18 months.
Although many big variable annuity writers are fading from the market, New York Life Insurance Co. has decided to jump in with a new product as a strategy to gain favor with independent broker-dealers and registered investment advisers.
Be careful about chasing the rally in industrial metals.
The Vatican's newspaper on Thursday praised as a step toward "ethical finance" a deal announced by the Swiss and U.S. governments to settle American demands for the identities of suspected tax dodgers.
The stock market is trying to reconcile some disappointing retail sales and jobs data with the Federal Reserve's more upbeat view of the economy.
Foreclosure filings were up 32 percent from the same month last year, RealtyTrac Inc. said Thursday. More than 360,000 households, or one in every 355 homes, received a foreclosure-related notice.
The number of people remaining on the benefit rolls fell to 6.2 million from 6.34 million the previous week. Analysts had expected a slight decline.
Jackson National Life Insurance Co., buoyed by robust sales of annuities, saw its first-half sales and deposits reach $6.1 billion, up from $5.94 billion in the first six months of 2008.
The Securities and Exchange Commission on Tuesday filed an administrative proceeding against Axa Advisors LLC for failing to supervise a former registered representative who pleaded guilty to securities fraud in January 2008.
