Administration officials have estimated the tripling of the $1 billion program could fund an additional 500,000 new car sales, giving automakers a late summer boost after months of ragged sales.
The Labor Department said that initial claims for jobless benefits dropped to a seasonally adjusted 550,000 for the week ending Aug. 1, down from an upwardly revised figure of 588,000 in the previous week.
Nasdaq OMX Group Inc. said today its second-quarter profit fell 31 percent amid losses tied to foreign currency translation and a charge from selling its stake in Orc Software.
Standard & Poor's Rating Services today downgraded The Phoenix Cos. Inc., a day after the insurer reported a huge second-quarter loss.
The section 529 college savings plan industry is getting its ducks in a row before an Aug. 14 deadline for comments to be considered before the Department of the Treasury's Office of Economic Policy issues a report on the programs next month.
The Financial Industry Regulatory Authority Inc. has slapped Ameritas Investment Corp. with a fine after one of its brokers encouraged clients to buy unsuitable variable universal life insurance policies to help pay for college costs and retirement.
Sun Life Financial today reported a 13.8% gain in net income for the second quarter, compared with the same period in 2008.
Societe Generale SA said today its net profit fell 52 percent in the second quarter as the French bank wrote down its derivatives holdings and suffered increased losses on bad loans.
The New York-based insurance broker and consulting firm said it lost $193 million, or 37 cents per share. It earned $65 million, or 12 cents per share, during the same quarter last year.
The ADP National Employment Report, a closely watched precursor to the government's report, said today that employment decreased by 371,000 in July versus a revised decline of 463,000 jobs in June.
Alternative asset manager Fortress Investment Group LLC said today that its second-quarter loss narrowed as it cut expenses and recorded a special non-cash gain on affiliate investments.
The Ohio Department of Insurance is examining storied insurance firm Barry Kaye Associates Inc. after a civil suit on a failed life settlements transaction accused the firm of fraud and negligence.
A broker booted from Next Financial is under investigation by the police in San Antonio for his role in an alleged theft of about $1.5 million from an elderly couple.
Although advisers are all over the map when it comes to predicting the longevity of the economic downturn, most have adjusted the way they do business because of it, according to a recent industry survey.
Conseco Inc. reaped a second-quarter profit of $27.6 million, or 15 cents a share, marking its second consecutive quarter in the black.
The median asset levels in 401(k) plans dropped at least 15% from yearend 2007 to mid-June 2009, but the affluent and wealthy saw much heftier losses, according to a report released yesterday.
Pending U.S. home sales rose in June for the fifth straight month, another encouraging sign of life for the embattled U.S. housing market, the National Association of Realtors reported today.
The Commerce Department says consumers boosted their spending 0.4 percent, slightly ahead of analysts' estimates. That comes after spending rose 0.1 percent in May.
IntercontinentalExchange Inc. reported today its second-quarter profit slipped 15 percent as it recorded a special charge on an investment in an Indian exchange and costs tied to acquisition last year of credit-derivatives processor Creditex.
GMAC Financial Services, which provides both automotive and home loans, says it posted a wider second-quarter loss of $3.9 billion as it transformed from an arm of General Motors Co. into an independent bank.
