Legislation that would set up the Office of Insurance Information within the Department of the Treasury has stalled in the House.
MetLife Inc. has some $800 million in exposure to the now-collapsed Lehman Brothers Holdings Inc. and the just-rescued American International Group Inc. and is assessing the recoverability of those investments.
Dekania Corp., a special-purpose acquisition company looking to invest in an insurance business, announced Monday that it was merging with Chicago-based Advanced Equities.
Morgan Stanley, which saw its stock fall as much 28% at one point on Tuesday after a drop of 13.5% on Monday, rushed out its fiscal third-quarter earnings report after the market closed today, trying to reassure investors that it is standing up to the market turmoil that has felled some top competitors.
An employer provided a worker with a lump-sum payment of approximately $35,000 during the first year of his disability, which he declared as income when he completed his tax return.
Following this weekend’s turmoil on Wall Street, financial-sector job cuts may hit new heights, according to a report from Challenger Gray & Christmas Inc. of Chicago.
“There will be massive defections of clients and advisers,” said Liz Nesvold, managing partner of Silver Lane Advisors LLC of New York. “The wirehouse model, which was damaged, is now broken.”
After a weekend of turmoil, shares of American International Group Inc. lost more than half their value in the first hour of trading.
Wayne Christian figured the registered representatives of Center, a small town in eastern Texas, could use a business boost. He also thought its pension funds and endowments, which fund scholarships, needed some new investment options.
Protected Tomorrows, an organization that trains financial advisers to serve those with special needs, is starting a program to train advisers to handle the special financial needs of the disabled, said Mary Anne Ehlert, the group's founder.
LPL Financial has agreed to pay a $275,000 penalty for violating customers' privacy, the Securities and Exchange Commission said Thursday.
Lehman Brothers is verging on collapse, even as Bank of America has reportedly bought Merrill Lynch for $44 billion; AIG hammering out its own rescue strategy.
Lehman Brothers is verging on collapse, even as Bank of America is reportedly in talks to purchase Merrill Lynch and AIG hammers out its own rescue strategy.
The Producer Price Index dropped 0.9% in August after many months of increased prices, according to the Department of Labor.
September’s reading on consumer sentiment improved this month, compared with August, as Americans’ outlook on inflation brightened, according to the preliminary Reuters/University of Michigan consumer sentiment index.
A precipitous drop in energy prices, the presidential conventions and the government bailouts of Fannie Mae and Freddie Mac have helped consumer confidence rise dramatically this month.
Former AIG chairman and chief executive Maurice Greenberg and other former executives at the insurer will have to cough up $115 million as part of a settlement in a derivatives lawsuit with the Teachers’ Retirement System of Louisiana.
Former registered broker-dealer representatives Peter D. Kelly and Daniel K. Ivandjiiski, have been barred from the securities industry for insider trading by the Financial Industry Regulatory Authority.
The Financial Planning Association and the National Association for Fixed Annuities have leapt into the fray, submitting comments on the SEC’s proposed index annuity rule.
