Citigroup joined four other big banks in reporting strong results for the quarter. After paying preferred dividends, the bank earned $3 billion, or 49 cents per share. It lost $2.86 billion, or 55 cents per share, during the same quarter last year.
Executives at Morgan Stanley Smith Barney have begun a round of layoffs in a bid to cut costs resulting from the massive merger of the two firms, which was completed last month.
Virginia will receive nearly $1.3 million as part of a multistate settlement with two investment companies.
The Charles Schwab Corp. today reported a 31% decline in second-quarter earnings from the year-earlier period, citing low interest rates, restructuring charges and still-weak equities markets.
JPMorgan Chase & Co. posted a 36% jump in second-quarter profit today easily surpassing Wall Street expectations as strength in its core consumer and investment banking businesses offset a jump in credit losses.
In a major retrenchment, LPL Investment Holdings Inc. of Boston is pulling the plug on the Pershing LLC clearing platform used by about 1,700 advisers on three broker-dealers it acquired in 2007, and moving those reps onto LPL's clearing platform.
Consumer prices shot up in June by the largest amount in 11 months, reflecting the biggest jump in gasoline prices in nearly five years.
The government says consumer prices shot up in June by the largest amount in 11 months, reflecting the biggest jump in gasoline prices in nearly five years.
The government said retail sales advanced in June by the largest amount in five months, led by a surge in gasoline prices and a slight rebound in the battered auto sector.
Grandparents have been shelling out cash to help their grandchildren, but not advice to accompany the assistance, according to data from MetLife Mature Market Institute.
The Securities and Exchange Commission would gain more authority to make rules governing broker compensation under draft legislation sent by the Department of the Treasury to Capitol Hill Friday.
Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time.
Kids are learning that when the economy gets tough, the tough will cut back on their spending, according to a recent poll from the Northwestern Mutual Life Insurance Co.
Senior Finra officials have started to tell broker-dealer executives and representatives that they should think twice when selling Section 529 college savings plans.
President Obama's regulatory reform proposals provided a broad outline and left many of the details to Congress. Ideally, before filling in those details, Congress will gather evidence on what caused the financial crisis, and where regulation actually broke down.
The College Savings Initiative will hold its third round table tomorrow in Washington to discuss ways to make Section 529 college savings plans more widely available to lower-income families.
Late last year, CLS Investments LLC and RegentAtlantic Capital LLC began laying off employees in anticipation of a drawn-out revenue slough.
In the wake of the economic crisis, the majority of Americans have lost their confidence in their families' future, a recent survey shows.
The latest iteration of social and religious investment screens hit the market on the last trading day of June with the launch of the JETS Dow Jones Islamic Market International Index Fund (JVS).
