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.
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.
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 Allstate Corp. of Northbrook, Ill., today declined the Department of the Treasury’s approval to participate in TARP.
Your clients are sitting on the edge of their seats, anxiously awaiting word of how the alternative minimum tax will affect them.
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.
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 steady exodus of registered reps from wirehouses is expected to accelerate dramatically over the next 18 months, according to a report from TowerGroup.
Parents are still contributing to their children’s college funds, despite the ravages of the recession, according to research released today.
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.
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.
First-quarter earnings report by Lowe's boosted hopes among investors that the worst of the U.S. recession is over.
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.
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.
Treasury Secretary Timothy Geithner says the economy is stabilizing but that unemployment will continue to rise.
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.
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.
The cost of three-month dollar loans between banks fell to a new record low Monday in a further sign that credit markets are recovering after being paralyzed during the financial crisis.
Following the departure of a major annuities expert and the elimination of some variable annuity riders, Massachusetts Mutual Life Insurance Co. is mulling the future of its role in the VA marketplace.
