The European Central Bank cut its main interest rate by a quarter point to 1 percent Thursday and is poised to unveil more measures to help boost the 16-nation euro zone economy.
Marsh & McLennan Cos. said today it returned to profitability in the first quarter, bouncing back from a loss a year ago when it absorbed a big write-down. But the latest results fell short of Wall Street expectations.
The head of the Federal Deposit Insurance Corp. says new powers are needed to oversee companies that pose financial risks to the economy, an authority that could be shared by the FDIC and other regulators.
A grand jury has indicted a Florida hedge fund manager who disappeared for two weeks before surrendering to face criminal charges.
World stock markets fell today but relatively strong U.S. consumer confidence and housing data helped limit swine flu-related losses.
Lazard Ltd., a financial advisory and asset management firm, said today it posted a first-quarter loss as revenue declined and it recorded a previously announced restructuring charge.
Despite a year-over-year profit decline, the latest quarter marked a turnaround from the fourth quarter, when the company posted a loss of $69.4 million, or $1.02 per share.
