The number of people remaining on the benefit rolls fell to 6.2 million from 6.34 million the previous week. Analysts had expected a slight decline.
The Securities and Exchange Commission on Tuesday filed an administrative proceeding against Axa Advisors LLC for failing to supervise a former registered representative who pleaded guilty to securities fraud in January 2008.
Moody's Investors Service today said it would keep its A3 long-term issuer rating on American International Group Inc. after the insurance company reported its first quarterly profit in nearly two years.
Although first-half revenue may be down at National Planning Holdings Inc., the independent broker-dealer network has been actively adding to its ranks of registered representatives.
Jackson National Life Insurance Co., buoyed by robust sales of annuities, saw its first-half sales and deposits reach $6.1 billion, up from $5.94 billion in the first six months of 2008.
The Commerce Department says the deficit rose 4 percent to $27 billion, from May's $26 billion. The May imbalance had been the lowest deficit in nearly a decade.
ING Groep NV, the Amsterdam, Netherlands, banking and insurance company, returned to profitability in the second quarter, earning £229 million ($325.8 million).
LPL Investment Holdings Inc. saw an 8.9% increase in its second-quarter profits, mostly on the back of cost cutting and the recent improvements in market conditions.
As Sallie Krawcheck takes charge of Merrill Lynch's retail-brokerage firm, it is priming the pump to recruit reps of all stripes — not just the jumbo producers so coveted on Wall Street.
The number of advisers moving from one wirehouse to another reached a nine-month low last month, according to data compiled by the Discovery-RR Database.
A more upbeat Federal Reserve reassured investors that they've been making the right bets.
Balances in health savings accounts increased slightly in the first quarter from fourth-quarter-2008 levels, according to data from Canopy Financial Inc.
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which was sued last month by the Securities and Exchange Commission for fraud.
A former member of the National Economic Council under President Bush has launched a boutique investment advisory firm, according to published reports.
The Labor Department says productivity, the amount of output per hour of work, rose at an annual rate of 6.4 percent in the April-June quarter.
Mutual life insurance companies fared better than their stockholder-owned counterparts in the recent economic tumult, according to a report from Moody's Investors Service.
Aggressive stimulus spending by governments helped the world avoid a second Great Depression but full economic recovery will take two years or more, Nobel Prize-winning economist Paul Krugman said today.
With the economy strengthening but still fragile, Federal Reserve policymakers are expected to hold a key lending rate at a record low this week and will weigh whether to extend some programs that were created to ease the financial crisis.
