Insurance revenue at banks jumped by 9.5% to $23.7 billion in the first six months of the year, according to the American Bankers Insurance Association.
The following is an edited transcript of the round-table discussion. It was moderated by InvestmentNews news editor Bruce Kelly and InvestmentNews reporter Jed Horowitz.
Some representatives and advisers wonder whether their broker-dealer will be able to cut it, and broker-dealer executives are dealing with the trials — and prospects — presented by the financial-markets crisis.
Inflation is no longer the nation's chief economic problem; it is deflation, according to Jeffrey L. Knight, deputy head of investments and chief investment officer at Putnam Investments of Boston.
It is highly unlikely that the SEC will tell Congress that "mark-to-market" accounting should be suspended or scrapped when it finishes its 90-day study of the practice, according to industry observers.
One of the great ironies of the market cataclysm is that investors stuck with auction rate securities — among the earliest victims of the global credit freeze — are now enjoying some of the fattest returns.
The nation's faltering economy is forcing many parents to put off saving money for their kids' college education.
Powerful House Democrats are eyeing proposals to overhaul the nation's $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.
Those who are fuzzy about how the stock market works can now learn the fundamentals of investing by relating it to sports.
Wirehouse representatives have been on tenterhooks since last week, awaiting the fate of their parent companies — while at the same time trying to deal with the market meltdown.
In a rare piece of positive economic data, lower energy prices in July sent the trade deficit down 3.5% in August, according to data from the Department of Commerce.
In an effort the calm the nerves of anxious Americans, President George W. Bush this morning said that the government is acting to resolve the financial crisis, which has mostly been driven by “uncertainty and fear.”
Prudential Financial Inc. yesterday pre-released third quarter results for its financial services businesses, warning investors of large investment losses.
MetLife Inc. of New York recently approached Hartford (Conn.) Financial Services Group Inc. about a merger, insiders told The Wall Street Journal.
RBC Capital Markets Corp. of New York will buy back up to $800 million in auction rate securities from more than 2,000 investors under a preliminary settlement announced today by the Securities and Exchange Commission and state securities regulators.
By following some very specific rules set forth by the Internal Revenue Service, your client can choose to participate in a Section 1031 exchange and defer payments of federal income taxes on the gains.
The Charlotte, N.C.-based investment bank said its net income fell to $1.18 billion, or 15 cents per share, from $3.7 billion, or 82 cents per share, a year ago.
Bank revenue from the sale of annuities rose 39.6% in the first half to $1.3 billion, from $935.9 million in the first half of 2007, according to a report released today by bank insurance consulting firm Michael White Associates LLC of Radnor, Pa.
Under the terms of the binding agreement, Allianz will purchase, at $31 per share, $750 million in preferred shares convertible to common stock.
Beer drinkers are keeping their mugs full even as the economy heads south and Wall Street suffers week after week.
