Big bonuses could be back in store for some top executives and traders on Wall Street as profitability returned to the investment banking industry in 2009, according to a new study released Thursday.
The number of newly laid-off workers filing claims for unemployment benefits last week fell to the lowest level in 10 months, evidence that job cuts are easing as the economy slowly heals.
Encouraging news on jobs and workers' productivity gave investors new reason to be optimistic about the economy and send stocks to big gains.
Life insurance producer advocacy groups celebrated the House Financial Services Committee's approval yesterday of the proposed Investor Protection Act, but stressed the bill still doesn't go far enough in protecting commissioned-based insurance sales agents.
The Hartford Financial Services Group on Tuesday posted a much narrower loss for the third quarter, as its investment losses shrank as financial markets improved.
As any stockbroker knows, it isn't just online and institutional brokers that offer discounts. Brokers at full-service firms have long offered commission concessions to keep their top customers happy, and their firms have more or less acceded if the broker met a minimum level of revenue production.
Allianz Life Insurance Company of North America is pulling its stand-alone long-term-care insurance product off the shelves, effective Nov. 13.
A focus on market volatility has become a driving force behind the Direxion/Wilshire Dynamic Fund (DXDWX) <ahref=http://www.investmentnews.com/apps/pbcs.dll/section?q=dxdwx&INDA=1&crit=&SearchCategory=CHART%3BREG%3BFREE%3BSUB&SearchProfile=1119&x=21&y=8&symbol=&targetURL=http%3A%2F%2Fwww.investmentnews.com%2Fapps%2Fpbcs.dll%2Fsection%3Fcategory%3Dstocklookup&category=ETFLOOKUP&searchType=etf>DXDWX</a, according to portfolio manager Cleo Chang.
Stocks are rising as investors get some encouraging news on the labor market and wait for the Federal Reserve to weigh in on the economy.
The Phoenix Cos. Inc., following a series of ratings downgrades earlier this year that halted sales of its life insurance and annuity products by major outside distributors, today announced the creation of a distribution company, Saybrus Partners Inc., and a consulting agreement with Edward Jones & Co. LP.
Investors sidestepped some of their doubts about the strength of an economic recovery and pushed into energy, industrial and materials stocks as commodity prices rose.
Broadridge Financial Solutions Inc., the brokerage services firm spun off by Automatic Data Processing Inc., is selling its securities clearing business to Penson Worldwide Inc. and its Penson Financial Services Inc. subsidiary.
Hopes for the fledgling economic recovery got a boost Monday from better-than-expected news on manufacturing, construction and contracts to buy homes.
The bankruptcy of a key lender that helps retailers stock their shelves is adding to the industry's worries ahead of the critical holiday shopping season.
Stocks are snapping back from Friday's big losses as stronger-than-expected reports on manufacturing and housing allay concerns that the economy's recovery won't last.
A former securities broker has pleaded guilty to charges he helped a prominent Manhattan lawyer dupe hedge funds into making bogus investments.
Penson Worldwide has agreed to buy the clearing contracts of Broadridge Financial Solutions for $60-$70 million as part of a new partnership the two firms revealed Monday evening.
A panel of life insurance company chief executives last week assessed how the industry has dealt with the financial crisis, debating the merits of mutual companies versus stock companies.
Kenneth Feinberg, President Obama's “pay czar,” last week capped and restructured the salaries of top executives at seven embattled corporations that have not yet repaid the help they received from the federal government last year.
