Despite rising energy costs, the Dow Jones Transportation Average has increased 19% since March, exceeding the 7.5% of the Dow Jones Industrial Average.
Home prices fell by a seasonally adjusted 1.7% in the first quarter, marking the largest quarterly decline on record.
UBS AGwill raise more than $15.5 billion of capital by issuing sharply discounted shares in an attempt to recover from mortgage-related losses.
Proposals voted on at Citigroup, JPMorgan and Morgan Stanley that allow investors to weigh in on pay were not well received.
The portfolio manager of Citigroup Inc.’s struggling Falcon Strategies and ASTA/MAT hedge funds, Reaz Islam, is leaving after 18 years at the company.
BlackRock Inc. has hired Craig Phillips to head its financial markets advisory group, a unit of BlackRock Solutions.
Brinker Capital Inc. has surpassed the $10 billion mark in assets under management.
Apollo Management LP is launching a commodities business to be headed by former Morgan Stanley executive Neal Shear.
The Boston-based money manager posted net income of $53.2 million, or 43 cents per share.
Concentrating on its existing 11,100 advisers is LPL's first priority, said executive William Dwyer III.
