Roger W. Crandall, co-COO, executive vice president and chief investment officer, will take on the role of president, presently held by chairman and chief executive Stuart H. Reese.
The number of Americans filing claims for first-time unemployment benefits rose by 27,000 to a seasonally adjusted 542,000 for the week ended Nov. 15 — a 16-year high, according to data from the Department of Labor.
The exposure was in four transactions: two collateralized-debt-obligation squared transactions and two high-grade CDOs of asset backed securities.
T. Rowe Price Group Inc. of Baltimore has launched two funds aimed at providing investors with exposure to the markets in Europe, Asia and the Americas.
This week, three more insurers announced their intentions to apply for to the Department of the Treasury’s Capital Purchase Program.
The Conference Board's index of leading indicators, which measures the economic outlook for the next three to six months, fell 0.8% in October in a sign that the economy will continue to suffer in the months ahead.
The consumer price index, a key indicator of inflation, fell 1%, marking the largest monthly decline since the index was first computed in 1947, according to the Department of Labor.
Entrepreneur Mark Cuban, owner of the NBA's Dallas Mavericks, is defending himself on his website against insider trading charges that the SEC levied against him this week.
The Municipal Securities Rulemaking Board has submitted a plan for approval by the SEC today to collect and disseminate critical market information about auction rate bonds and other variable-rate municipal securities.
Index annuity sales crept up during the third quarter, hitting $6.7 billion, according to data from AnnuitySpecs.com of Pleasant Hill, Iowa.
