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NEWS INDUSTRY NEWS FEB 01, 2008
Financial sector holds own amid job cuts

U.S. employers cut 17,000 jobs in January, according to a report released by the Department of Labor.

NEWS INDUSTRY NEWS FEB 01, 2008
Factory sector expands in January

The factory sector grew in January, marking the 75th straight month of expansion according to the latest ISM report.

NEWS INDUSTRY NEWS FEB 01, 2008
Nymex boasts record fourth quarter

Net income for the New York Mercantile Exchange increased 50% to a record $63.5 million in the last quarter.

NEWS INDUSTRY NEWS FEB 01, 2008
Task force formed to simplify 529s

Operational complexity was identified as the second-leading factor holding back the growth of 529 plans.

NEWS INDUSTRY NEWS FEB 01, 2008
Senate stimulus plan hits roadblock

Democrat leaders hope to add changes the House’s $146 billion version, but acknowledged they do not have 60 votes necessary to do so.

RETIREMENT LIFE INSURANCE AND ANNUITIES JAN 31, 2008
ACLI names Szostek director

The American Council of Life Insurers has added James Szostek as the director of pensions in the taxes and retirement security department.

INVESTING ALTERNATIVES JAN 31, 2008
MSIM launches fund-of-hedge-funds

The Morgan Stanley Global Long/Short Fund aims to offer an institutional-quality portfolio of long/short equity hedge funds.

NEWS INDUSTRY NEWS JAN 31, 2008
NFP Securities chief abruptly quits

The firm’s parent company, National Financial Partners, will replace Jeff Montgomery from within.

NEWS INDUSTRY NEWS JAN 31, 2008
Advisers key to 529 plan sales

Sales by advisers were rated the most effective method of marketing 529 plans, according to a survey.

RETIREMENT LIFE INSURANCE AND ANNUITIES JAN 31, 2008
NAIC claims drop in customer complaints

A total of 222,184 consumer complaints were reported to the NAIC last year, a 3.6% fall from 2006.