Orders for durable goods fell 5.3% in January, a decrease of $12 billion, according to a report released by the U.S. Department of Commerce.
“The economic situation has become distinctly less favorable,” Fed chairman Ben Bernanke told Congress.
The dollar fell to $1.5088 per euro, the lowest since level the European single currency's debut in 1999.
The firm an application with the SEC for exemptive relief for a series of actively managed, target-date exchange traded funds.
Ted Mathas has been named the firm’s chief executive officer-elect and will succeed Sy Sternberg.
Standard & Poor’s/Case-Shiller national home-price index fell 8.9% in the fourth quarter from the year-ago period.
Only 36% of respondents in a survey knew that Medicare eligibility begins at age 65.
Citi Global Wealth Management will acquire the managed account trading and technology platform of Legg Mason Private Portfolio Group.
Flagging consumer confidence comes as inflation spiked, with prices rising 1% in the past month.
There is value to annuitization through a single premium immediate annuity, said insurance industry experts.
