The number of American workers who filed new claims for jobless benefits rose to a seasonally adjusted 478,000 during the one-week period ended Oct. 18, from a revised 463,000 the prior week, according to Department of Labor data.
Ambac Financial Group Inc. of New York has selected David W. Wallis as its new president and chief executive.
Global institutional investors have continued to retreat from risky assets, as the financial crisis has worsened and the potential for a global recession has grown, according to the State Street Investor Confidence Index, developed by State Street Associates LLC of Cambridge, Mass.
Wachovia Corp. reported a massive third-quarter loss today in what is likely to be its last earnings report as an independent company.
LPL Financial of Boston has tapped Allison Couch to be president of Associated Securities Corp., its El Segundo, Calif., subsidiary.
The Conference Board’s index of leading indicators rose 0.3% in September after declining over the previous five months.
Jackson National Life Insurance Co. of Lansing, Mich., today announced that it generated $11.2 billion in total sales and deposits during the first nine months of the year.
Barclays Capital is combining its family of indexes with those of Lehman Brothers under the Barclays Capital Indexes name, said Waqas Samad, head of Barclays Capital’s index products group.
U.S. Bancorp reported that its third-quarter earnings fell 47% to $576 million, or 32 cents a share, from $1.1 billion, or 62 cents a share, in the year-ago period.
The AIG Advisor Group has seen a massive defection from one of its broker-dealers, involving a network of reps that produced more than $41 million in gross revenue last year.
ING Groep N.V. said today that it would sell its Taiwanese life insurance business to Fubon Financial Holding Co., a Taipei-based financial services firm.
The following transcript is from "What the Crisis Means for Long-Term Investing," an InvestmentNews webcast held Oct. 7.
As many look to diversify portfolios into frontier markets, some advisers might consider recommending Peru, which offers an economy with peaks and valleys reminiscent of the country's Andes Mountains.
The dramatic drop in stock holdings has advisers working closely to help investors determine whether to claim tax losses.
Brokers and industry observers worry that the Department of the Treasury's capital purchase program to inject $250 billion into the financial services industry could mark a new era of government control and mistrust of the industry.
The unfolding global economic crisis, vividly illustrated by the recent record-level stock market volatility, is sparking new debate over the value of gold as part of an investment portfolio.
Calling the $700 billion government bailout an “extraordinary response to an extraordinary crisis,” President Bush today said that it is “going to take awhile” for the initiative to thaw the frozen credit markets.
The Securities and Exchange Commission has chosen Nov. 17 as the new deadline for comments on its proposal to register indexed annuities.
Consumer confidence fell by the largest amount on record in October, according to a preliminary release of the Reuters/University of Michigan Surveys of Consumers' Index of Consumer Sentiment.
The housing crisis showed no signs of rebounding in September as construction of homes dropped to its slowest pace since early 1991, and building permits for new homes fell to their lowest level in almost 27 years.
