Fidelity Investments said its intermediary businesses — those that serve broker-dealers, banks, insurers, registered investment advisers and other institutional clients — set records last year.
Legg Mason Inc. said Thursday it will record a $610 million charge to reflect elimination of exposure to risky structured investment vehicles in its money market accounts.
General Motors Corp.'s auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.
Confidence in the White House rose this year but dropped for Wall Street and corporations, according to an annual poll conducted by Harris Interactive Inc.
The number of new jobless claims and the total number of people receiving unemployment benefits both dropped unexpectedly last week, though they remain at elevated levels.
Advisers soon may be able to pursue a new designation that would formally qualify them as experts in managing investment portfolios during their clients' retirement years.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
Though advisers’ outlook of the economy over the next six months may be bleak, there is indeed a silver lining, according to a survey from The Charles Schwab Corp. of San Francisco.
Thinkorswim Group Inc., an online brokerage and investor education service provider which is being acquired by TD Ameritrade, said Wednesday its fourth-quarter profit fell 46 percent due to a decline in interest and education revenue and special charges.
The financial services industry spent more than $5 billion on political contributions and lobbying from 1998 through 2008, according to a study released today.
Even the rich are gloomy about the economy, according to Chicago-based Spectrem Group’s Millionaire Investor Index, which fell 13 points in February.
With large pharmaceutical companies sitting on extra cash and billions, a flurry of mergers in the biotechnology sector is likely this year, analysts say.
A proposal in President Obama’s budget to lower the tax deduction amounts for wealthy donors has charities concerned that it may reduce giving.
The U.S. lost an estimated 778,000 jobs in February, marking the biggest one-month loss of the recession so far.
Raymond James Financial announced that Paul Reilly, executive chairman of Korn/Ferry International, will join the company as president May 1, and after one year will succeed Thomas James as chief executive.
While the historic plunge of the Dow Jones Industrial Average yesterday may not be a sign that the markets have reached the bottom, most economists agree that it signals a prolonged recession.
The offshore tax-haven loophole could be getting a lot smaller if Sen. Carl Levin, D-Mich., has his way.
