Just over half of Americans are investing in a retirement plan, but the tumultuous financial markets are making it a more arduous task, according to a new survey.
Insurance companies and distributors face major changes for risk management and product development as variable annuities and their guarantees pressure insurers' risk-based capital, industry experts said.
Broker-dealers, registered representatives and advisers could be on the hook if they sell products from major carriers whose risk-based capital is crumbling, plaintiff's attorneys say.
The stock market historically has risen more during the first year under Democratic presidents than the first year under Republican presidents, according to data released last month by Savant Capital Management Inc.
National Financial Partners Corp., the amalgamator of financial planning firms whose shares have plunged 90.7% in the past 52 weeks, is renegotiating its bank credit lines, suspending its dividend and share buybacks and temporarily ceasing acquisitions as it and its constituent firms continue to struggle.
In an unprecedented move that some are comparing to gambling on the legal system, a $4.6 billion lawsuit is being packaged as the sole asset of a special-purpose company that is preparing an initial public stock offering.
The unemployment rate shot up to 6.5% last month, marking its highest level in 14 years, according to the Department of Labor.
The majority of financial advisers have little faith in President-elect Barack Obama’s ability to put the nation back on a sound economic footing.
Wholesale inventories held by distributors fell 0.1% in September as companies reacted to the economic slowdown.
New York Life Insurance Co. said it won’t participate in the Department of the Treasury’s capital-purchase program.
The U.S. economy is in a recession that “will likely last longer and run much deeper than either of the two previous economic crises.
Blackstone Group LP and Conseco Inc. posted third-quarter losses while the Nasdaq Stock Market Inc. and Man Group PLC reported profit drops in financial statements issued today and yesterday.
Nationwide Financial Services Inc. of Columbus, Ohio, will remain on CreditWatch “negative,” Standard and Poor’s Ratings Services of New York said today.
The incoming Obama administration is likely to act quickly to kill the Bush tax cuts for households with incomes over $250,000 a year, and they may move to make any new tax law retroactive to Jan. 1, 2009.
The outlook of Cigna Corp., a Philadelphia-based health insurer, has been downgraded to “negative” by Standard and Poor’s of New York.
U.S. companies in the private sector lost 157,000 jobs in October, according to the monthly ADP National Employment Report, released today.
Ambac posted a third-quarter loss of $2.43 billion, or $8.45 per share, as it set aside $3 billion to cover anticipated claims.
Transit authorities, which are now facing about $4 billion in fees for AIG-backed tax shelters, are reaching out to the government for help, according to The New York Times.
UBS AG reported today a third-quarter net profit of 296 million Swiss francs ($252 million) after losing 858 million francs in the year-ago period.
The Hartford (Conn.) Financial Services Group Inc. has announced that it will lay off 500 employees — about 1.6% of its total work force — this month, citing falling revenue and investment losses.
