Fidelity Investments has sold nearly all of its shares in Dow Jones & Co., the target of a $5 billion takeover bid by Rupert Murdoch’s News Corp.
Merrill Lynch, Morgan Stanley, Smith Barney and Charles Schwab are being sued for allegedly illegally forcing clients into lower paying deposit accounts, enabling the firms to reap “billions” in extra profits.
Wachovia Corp.’s planned $6.8 billion purchase of A.G. Edwards Inc. could make an already competitive sales game even tougher for U.S. mutual fund firms, some analysts said.
IRVINE, Calif. — Smith Barney reps are wondering when they’ll get their payments from the wage-and-hour lawsuit the firm agreed to settle in May 2006 for $98 million.
Two hedge funds have sent a second letter to TD Ameritrade, challenging the company’s refusal to merge.
Citigroup Inc. agreed to pay $15.2 million to settle claims with NASD that its brokers misled employees of BellSouth Corp.
Two hedge funds are pressuring TD Ameritrade to sell out to E*TRADE or Schwab, according to press reports.
Morgan Stanley’s board of directors has approved the spin-off of Discover Financial Services.
Scot Warren was appointed managing director for equity indexes at the Chicago Mercantile Exchange, according to a statement from the exchange.
Jesper Koll, an economist for Merrill Lynch based in Japan, has resigned from his post, published reports said.
Bear Stearns has joined with a group of Saudi Arabian executives to provide investment products that comply with Islamic law.
The largest shareholder of Citigroup has expressed confidence in chief executive Charles Prince and does not want to see a breakup of the company.
Gov. Eliot Spitzer has created a commission to help New York City hold onto and expand its status as a world financial capital.
Fidelity Investments will move its Japanese equity-trading desk to Hong Kong from Tokyo, published reports said.
Global Alpha, Goldman Sachs’ flagship hedge fund, fell 3.4% during the first four months of this year.
OppenheimerFunds Inc. Wednesday said Bill Wilby will retire from the New York-based company June 30 after 16 years of service.
The Bear Stearns Cos. Inc. today expanded its European investment banking division with a series of new appointments.
Jeff Raich, co-global head of mergers and acquisitions, is the latest high-ranking investment banker to leave UBS AG.
IRVINE, Calif. — The major sponsors of fee-based brokerage accounts claim they will need six months to a year to transition clients out of the accounts.
Merrill Lynch & Co. has trimmed employees’ sick days from 40 to 10, according to an internal memo.
