Bloomberg

Bloomberg
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NEWS WIREHOUSES MAY 08, 2007
JPMorgan to stop payments to alum associations

JPMorgan Chase & Co. has agreed to stop making payments to more than 100 college alumni associations that allowed the company to market its consolidation loans directly to graduates, according to the Wall Street Journal.

NEWS INDUSTRY NEWS MAY 08, 2007
Advisers should study up on 529s

Advisers need to be educated about college savings plans in order to better serve ther clients. That was one of the messages delievered at a confernce on colleges savings this morning sponsered by AllianceBernstein Investments.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 08, 2007
Regulators: Recommend only suitable annunities

The National Association of Securities Dealers and state regulators in North Dakota, Iowa and Minnesota signed a joint statement supporting a new rule to require that insurance companies and agencies recommend only suitable annuity products to their customers.

NEWS WIREHOUSES MAY 08, 2007
Citigroup to pay $200,000 for unit's misdeeds

Citigroup Inc. has agreed to pay $200,000 to settle charges with the Securities and Exchange Commission regarding one of its brokerage units that manipulated auctions involving municipal and corporate bonds.

NEWS INDUSTRY NEWS MAY 08, 2007
Deutsche books 20% hike in revenues

Deutsche Bank reported $12.9 billion in net revenues for the first quarter, a 20% gain from the same period in 2006, thanks to record sales in its corporate and investment bank division.

NEWS WIREHOUSES MAY 08, 2007
Citigroup's all about the green

Citigroup Inc. today announced that it will spend $50 billion over the 10 years to address global climate change, the largest such move ever by Wall Street firm.

INVESTING ALTERNATIVES MAY 08, 2007
NFA bars introducing broker

The National Futures Association has permanently barred former associated person Adam Leon from NFA membership.

NEWS WIREHOUSES MAY 08, 2007
Schwab looks beyond boomers

Charles Schwab Investment Management has lowered its minimum initial investment in mutual funds to $100 as part of a sweeping effort to capture younger investors.

NEWS INDUSTRY NEWS MAY 08, 2007
Lazard revenues grow 4.9% in first quarter

Lazard Ltd. Today posted a 4.9% increase in first quarter revenues on growing asset management fee income and record inflows, but fell short of analysts expectations.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 08, 2007
Marsh 1Q income down 36%

Marsh & McLennan Cos. today reported that first-quarter income declined by 36% to $268 million, compared to $416 million for the same period a year ago.