Ambac posted a third-quarter loss of $2.43 billion, or $8.45 per share, as it set aside $3 billion to cover anticipated claims.
UBS AG reported today a third-quarter net profit of 296 million Swiss francs ($252 million) after losing 858 million francs in the year-ago period.
A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.
Actively managed mutual funds are facing more pressure for market share from exchange traded funds, separately managed accounts, structured notes and 130/30 funds, according to a study released today by Financial Research Corp.
The Hartford (Conn.) Financial Services Group Inc. has announced that it will lay off 500 employees — about 1.6% of its total work force — this month, citing falling revenue and investment losses.
Suppose one of your clients received a large amount of stock in the New York-based Metropolitan Life Insurance Co. when MetLife converted from mutual to public ownership in 2000.
Tough times call for a new way to show client appreciation. Instead of holding an elaborate dinner this year, why not join with clients to give thanks and lend support to a worthy cause?
The manufacturing industry slumped for the second consecutive month in October as the economy continued to feel the pull of the credit crisis, according to a report by the Institute for Supply Management.
The European Commission today said that the European Union countries probably are in the midst of a recession and that the outlook for 2009 growth is dim.
The total payout for 2009 reflects a dividend interest rate of 7.6% on new eligible participating life insurance policies.
