The Reserve Management Co. Inc. of New York today completed the first wave of distributions to shareholders from the liquidation of the Primary Fund.
Investors pulled $21.9 billion out of stock and bond mutual funds in September, according to estimates from the Financial Research Corp. of Boston.
The Depository Trust and Clearing Corp. today announced that starting Tuesday, it will publish weekly aggregate market data from the Trade Information Warehouse it maintains on credit derivatives.
Consumer spending declined 0.3% in September in yet another sign that the economic slump is battering consumers, according to the Department of Commerce.
The stock price of The Hartford (Conn.) Financial Services Group Inc. dipped by more than half yesterday, following the company’s release of dismal third-quarter results.
Confidence among U.S. consumers declined sharply in October as Americans continued to grow more pessimistic about the prospects for the economy.
The world’s second-largest insurance broker, Aon Corp., saw its net income decrease 43% to $117 million, or $0.40 per share, in the third quarter, compared with $204 million, or $0.64 per share, in the year-earlier period.
The Chicago-based firm’s third-quarter net income was up 12% to $22.2 million, or 45 cents per share, compared with $19.9 million, or 41 cents per share, in the year-ago period.
The Minnetonka, Minn.-based fund’s chief executive, Colin Smith, said in a letter to investors that the current pace of redemption requests could hurt “both continuing and later redeeming investors."
More than 7.5 million Americans at the end of September owed more in loans than their house was worth, according to a report by First American CoreLogic Inc. of Santa Ana, Calif.
