After a series of ratings downgrades this year halted sales of its life insurance and annuity products by major outside distributors, The Phoenix Cos. Inc. has created a distribution company of its own, Saybrus Partners Inc., and has struck a consulting agreement with Edward D. Jones & Co. LP.
State Street Corp. said Tuesday that it will buy the securities services business of Italian banking group Intesa Sanpaolo for about $1.87 billion in cash.
President Barack Obama says new figures showing national unemployment has hit the double-digit mark are regretful and says he's working hard to restore the struggling economy.
Oil prices lost over $2 to stumble below $78 a barrel Friday as rising U.S. unemployment figures renewed concerns about the economic recovery and consumer demand.
Stocks rose early Friday as investors shrugged off news that more jobs were lost in October than expected, pushing the unemployment rate above 10 percent for the first time since 1983.
AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
The unemployment rate has surpassed 10 percent for the first time since 1983. Nearly 16 million people can't find jobs and employers cut a net total of 190,000 jobs last month, the Labor Department says.
Investors added to the week's strong gains in the stock market after finding some positives in a surprisingly weak jobs report.
CashEdge Inc. is now making its AllData Advisor account aggregation service available to financial advisers via a self-service online subscription.
Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mortgage market, a defense lawyer told a jury on Friday.
Hedge fund and private equity firm The Blackstone Group LP on Friday posted a narrower loss for the third quarter, as its private equity holdings gained value and its real estate investments stabilized.
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
Alternative asset manager Fortress Investment Group LLC said Friday its third-quarter loss deepened as it cut expenses and recorded a big gain on affiliate investments.
Big bonuses could be back in store for some top executives and traders on Wall Street as profitability returned to the investment banking industry in 2009, according to a new study released Thursday.
Encouraging news on jobs and workers' productivity gave investors new reason to be optimistic about the economy and send stocks to big gains.
The number of newly laid-off workers filing claims for unemployment benefits last week fell to the lowest level in 10 months, evidence that job cuts are easing as the economy slowly heals.
Life insurance producer advocacy groups celebrated the House Financial Services Committee's approval yesterday of the proposed Investor Protection Act, but stressed the bill still doesn't go far enough in protecting commissioned-based insurance sales agents.
A focus on market volatility has become a driving force behind the Direxion/Wilshire Dynamic Fund (DXDWX) <ahref=http://www.investmentnews.com/apps/pbcs.dll/section?q=dxdwx&INDA=1&crit=&SearchCategory=CHART%3BREG%3BFREE%3BSUB&SearchProfile=1119&x=21&y=8&symbol=&targetURL=http%3A%2F%2Fwww.investmentnews.com%2Fapps%2Fpbcs.dll%2Fsection%3Fcategory%3Dstocklookup&category=ETFLOOKUP&searchType=etf>DXDWX</a, according to portfolio manager Cleo Chang.
