Donald Kohn, the second-highest ranking official at the Federal Reserve, announced Monday that he will leave at the end of June, giving President Barack Obama a chance to put a bigger imprint on the central bank.
With the sale of Dresdner Bank now well behind it, Allianz appears to be back on track. Proof? The Pimco and Oppenheimer parent recorded close to a $6B profit in 2009.
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that record-low interest rates are still needed to ensure that the economic recovery will last.
The unemployment rate dropped unexpectedly in January to 9.7 percent from 10 percent while employers shed 20,000 jobs, the government said Friday.
Shares in insurer Swiss Life Holding jumped Monday on reports that German rival Allianz SE is planning to make a takeover bid.
Last week, AIG announced it was unloading its Asia-based operations. On Monday, the embattled insurer agreed to sell its Alico unit to MetLife for $15.5B. Is Nan Shan next?
If you had money in the stock market over the past decade, you probably agree that it was one bumpy experience. It might lead you to think your retirement account didn't fare too well. A new study by Fidelity Investments shows consistent contributions and staying in the market paid off for many, but the gain was due more to a commitment to saving than stellar market performance.
Making one's true love happy will cost a whopping $87,403 this year, a minuscule increase from last year, according to the latest cost analysis of the items in the carol "The Twelve Days of Christmas."
Royal Bank of Scotland PLC said Tuesday that its joint-venture commodities unit RBS Sempra Commodities has sold its metals, oil and European energy businesses to investment bank J.P. Morgan for $1.7 billion.
An Indian man has pleaded guilty to participating in a scheme to access online brokerage accounts to jack up stock prices and reap thousands of dollars in illegal profits.
