Merrill Lynch Life Agency Inc. will pay the Illinois Division of Insurance $18 million to settle a state investigation into the firm’s role in an imploded trust that was supposed to cover consumers’ funeral expenses.
The Bank of England's Monetary Policy Committee was unanimous in agreeing to expand its stimulus policy, called quantitative easing, but is unsure how effective the injection of billions of pounds is in boosting the economy, documents disclosed today revealed.
The cost of three-month dollar loans slid to a new record low today after Bank of America Corp. said it had raised around $13.5 billion to shore up its capital position.
The Federal Reserve expects the U.S. economy to improve in coming months, even as policymakers downgraded their outlook for all of 2009 and said the unemployment rate could approach 10%.
Treasury Secretary Timothy Geithner says a new public-private partnership to help U.S. banks shed their bad assets will begin operating in the next six weeks.
Your clients are sitting on the edge of their seats, anxiously awaiting word of how the alternative minimum tax will affect them.
A modest rebound in single-family home construction in April raised hopes Tuesday that the three-year slide in housing could be bottoming. But with the supply of unsold homes bulging, foreclosures rising and prices falling, no broad recovery is expected until next spring at the earliest.
The Allstate Corp. of Northbrook, Ill., today declined the Department of the Treasury’s approval to participate in TARP.
World stocks rose today as upbeat news about U.S. housing and banks and a sharp improvement in German investor sentiment suggested the world economy was headed for recovery.
Parents are still contributing to their children’s college funds, despite the ravages of the recession, according to research released today.
High-income women are the main drivers of philanthropy in their households, according to research released today by the Fidelity Charitable Gift Fund, a charitable-donor-advised-fund program established by Fidelity Investments.
The steady exodus of registered reps from wirehouses is expected to accelerate dramatically over the next 18 months, according to a report from TowerGroup.
The Nebraska Supreme Court Friday ruled against a group of investors that tried to muscle a state guaranty association into paying about $1 million for the group’s failed viatical investments.
National Planning Holdings Inc., the Santa Monica, Calif. independent broker-dealer network, saw its revenue slip 15% during the first quarter, to $136 million from $159.9 million a year earlier.
First-quarter earnings report by Lowe's boosted hopes among investors that the worst of the U.S. recession is over.
It took only a matter of months for the markets to lose nearly half their value, but advisers will feel the ripple effects of this economic crisis for years, predicts a prominent consultant.
Chief executive Ramani Ayer today told employees in an internal memorandum that the insurance juggernaut, which has limped its way through dismal financial results and devastating investment losses, has decided to hold on to both units.
Treasury Secretary Timothy Geithner says the economy is stabilizing but that unemployment will continue to rise.
First-quarter sales of index annuities hit $7 billion — down 2.1% from the fourth quarter but up 22.8% from a year earlier, according to research from AnnuitySpecs.com.
