The Houston-based asset management firm’s earnings fell $596,000, after a net income of $2.6 million in the year-ago period.
The rate of home loans entering the foreclosure process was 0.83%, up from 0.54% a year ago.
Ambac will seek to raise capital through a $1 billion common stock offering, plus a $500 million public offering of equity units.
Modifications to SEC's privacy regulations would allow departing brokers to take customer contact information with them.
Pay tax on such financial products, even though no payoff from such investments is assured, would unfairly limit trade of the financial products, according to the group.
Manufacturing reports were down across the board with only St. Louis reporting a pickup in activity.
The most significant increases in filings for the first two months of 2008 occurred in California, Maryland and Florida.
Financial services have eliminated 22,056 jobs since New Year’s, according to Challenger Gray & Christmas.
The American Bankers Insurance Association has elected three financial services industry leaders to serve as new board of directors.
The bond insurer has decided against splitting into two entities, as it prepares to receive up to $3 billion in cash.
January was the second month in a row in which spending on non-residential structures decreased.
Financial services and mortgage companies must do more to reduce preventable home foreclosures, Fed chief Ben S. Bernanke said.
Changes to defined benefit plans will slow considerably this year, with 72% of plans surveyed by Hewitt Associates saying they would not likely make any changes to their plans this year, compared to 41% in last year’s survey.
"I would say, by any common-sense definition, we are in a recession," said Warren Buffett, CEO of Berkshire Hathaway.
The firm's life settlements units have received provider licenses in 22 states and have filed applications with five others.
Using life insurance to fund college costs has become less popular since the introduction of Section 529 plans, but some financial advisers and carriers insist the strategy still works for some middle-income clients.
Registered investment advisers just might be the next big ticket for the insurance industry.
Although 2008 probably won't be a year for any significant tax changes, the insurance industry is preparing for 2009 and 2010, when tax increases appear likely.
Despite the historical success of using a combination of stocks and bonds to provide downside and upside protection, investors continue to search for new investment vehicles that purport to offer improved methods of limiting investment losses.
HSBC Group Holdings reported a 13%% rise in earnings for 2007 aided by an increase in client assets and the launch of new private-equity investment platforms.
