Reps at both Smith Barney and Morgan Stanley, as well as other industry observers, see a long slog ahead for the new joint venture between the two firms.
While a handful of carriers have received clearance to become banks or thrifts, Genworth Financial Inc. of Richmond, Va., continues to wait for the OK from regulators.
The suit was filed by American Equity Investment Life Insurance Co., a major provider of index annuities, and other companies that market the products, in the U.S. Court of Appeals for the District of Columbia Circuit after the SEC published its rule in the Federal Register today.
Bank of America Corp. suffered its first quarterly loss in 17 years due to escalating credit costs, write-downs of $10.47 billion and trading losses in its capital markets businesses.
The Federal Reserve has cleared Protective Life Corp., the Birmingham, Ala., insurer, to become a bank holding company, making the carrier eligible to a slice of the $700 billion federal bailout.
One of the suits was brought in federal court in New York by the Chicago-based American Medical Association, which led medical societies, health plan members and medical-care providers against the carrier.
The consumer price index, a key indicator of inflation trends, dropped for the third consecutive month in December and barely rose for 2008, marking its slowest pace in 54 years, according to Department of Labor data released today.
Charles Schwab & Co. Inc., which late last year said it would eliminate more than 100 jobs at all levels amid the economic slowdown, said Friday that it will continue to reduce expenses.
For many employers, especially self-insured employers, administering a cap on the tax exclusion for employer-based health coverage would be difficult, according to a detailed study.
But the former Wall Street giant will need to assert more international coordination to meet this goal, a federal judge emphasized yesterday in a court hearing.
Genworth Financial Inc.’s long term care insurance business has teamed with the National LTC Network Inc. in a marketing relationship aimed at selling the insurer’s products and services.
Retail sales fell 2.7% in December from November as a growing number of shoppers stayed on the sidelines during the holiday shopping season, according to the Department of Commerce.
House Democrats intend to give President-elect Barack Obama $1 trillion to deploy for economic recovery programs as early as the middle of February, said Financial Services Committee chairman Barney Frank, D-Mass.
Just when we thought we had heard all the bad financial news there was, a new major money scandal is being played out. Everyone wants to know what happened to the Bernie Madoff money.
John Lovito and Federico Garcia Zamora recently joined the firm as co-portfolio managers for the $1.7 billion American Century International Bond Fund, the Kansas City, Mo.-based American Century said today.
Fund managers around the globe hold a generally optimistic outlook on the future, predicting that markets in most regions will begin to recover in 2009, according to a survey released today by Watson Wyatt Worldwide Inc.
Jackson National Life Insurance Co. of Lansing, Mich., today launched its new corporate <a href=http://www.jackson.com>website</a>, which includes new tools for advisers and registered representatives.
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.
