Global bond underwriting activity declined by 29% in 2008 to $4.33 billion, the lowest level since 2000, according to data from Dealogic Holdings PLC of London.
Staff at the SEC’s Division of Enforcement has informed Reserve Management that it intends to recommend that the SEC bring an enforcement action against the company for violating federal securities laws.
Because current yields on Treasury obligations are at historic lows, certain estate planning techniques can be very attractive.
Economists are expecting an even steeper drop in gross domestic product numbers for the fourth quarter than final Department of Commerce third-quarter numbers, released today.
Consumer took some heart in December, as lower prices have provided a measure of relief to jittery Americans fretting about continued job losses and decreasing incomes.
Rising unemployment and volatility in the stock market continued to pull down the troubled housing market as sales of existing homes tumbled 10.6% in November from the same period a year earlier.
Standard and Poor’s Ratings Services today lowered its counterparty credit and financial ratings on Nationwide Financial, the life insurance division of Columbus, Ohio-based Nationwide Mutual Insurance Co., to A+, from AA-.
Apartment real estate investment trusts, which have been outperforming many of their real estate peers in 2008, are expected to take a hit in 2009 as rising unemployment will likely cause both demand and rents to decline.
Tremont Group Holdings, which is owned by OppenheimerFunds Inc., a subsidiary of Massachusetts Mutual, had $3.3 billion invested with Mr. Madoff — more than half of its total $5.8 billion under management.
Because the value of most advisory practices is tied in varying degrees to cash flow, revenue and assets advised, most firms are probably worth less today than they were at their peak a year ago.
