The financial health of Social Security and Medicare, the government's two biggest benefit programs, worsened in the past year because of the severe recession.
The federal government ran a deficit in April for the first time in 26 years, pushing the red ink so far this budget year to a record $802.3 billion.
Home prices fell in nearly nine out of every 10 U.S. cities in the first quarter of this year as first-time buyers looking for bargains dominated the market.
National Financial Partners Corp. today reported a net loss of $515.8 million, or $12.59 per diluted share, for the first quarter, compared with net income of $8.5 million, or $0.21 per diluted share, in the first quarter of 2008.
The government's unprecedented "stress tests" of the 19 largest U.S. banks should bolster Americans' battered confidence in U.S. banking system, Federal Reserve Chairman Ben Bernanke said today as he defended the rigor of the exams.
Many small businesses believe their sales will increase or remain flat this year even as they continue to cut operating costs, according to a study released yesterday by Raddon Financial Group of Lombard, Ill.
Great-West Lifeco Inc., the Winnipeg, Manitoba-based parent company of Putnam Investments of Boston, is looking for acquisition opportunities among U.S. and British life insurance companies, president and chief executive Allen Loney told the Globe and Mail newspapers of Toronto.
Mercer LLC of New York announced today that it has hired two market leaders for its defined contribution plan administration-outsourcing service.
More than $24 billion in additional estate taxes would have to be paid from fiscal 2010 to fiscal 2019 under a budget proposal for the next fiscal year released Monday by the Obama administration.
The U.S. trade deficit rose in March for the first time since last July as the global recession cut sharply into sales of American exports.
Interest rates on short-term Treasury bills fell in Monday's auction with rates on six-month bills dropping to the lowest level since mid-January.
Corporate giving is expected to decline this year, according to a survey released today by The Foundation Center, a New York-based nonprofit service research organization that focuses on philanthropy.
Jacqueline “Jackie” Williams, a leading figure in the Section 529 college savings plan industry, is leaving her job as executive director of the Columbus-based Ohio Tuition Trust Authority to become director of New America Foundation’s College Savings Initiative, effective June 1.
The Internal Revenue Service has delivered two revenue rulings to help determine the tax hit on life settlements.
A newly formed organization, Metro-New York Philanthropic Advisors Network, has been developed for advisers, other financial leaders and high-net-worth clients to network and share stories about philanthropic giving.
World stock markets fell Monday as investors took advantage of a light financial news day to book profits made over the last couple of weeks — and recently buoyant bank stocks bore the brunt.
Equity managers overall got a boost at the end of the first quarter, thanks to the March rally, but the firms at the top of the performance charts for the 12-month period ended March 31 were those that followed non-traditional strategies, according to Morningstar Inc.'s database of separate accounts and collective investment trusts.
Safety reigns supreme this year, with managers of long-duration and government bond strategies taking six of the top 10 spots in Morningstar Inc.'s database of separate accounts and collective investment trusts for the year ended March 31.
Unlike most bank executives, John Taft — director of Royal Bank of Canada's U.S. wealth management business — can make a compelling case for the economic crisis being good for business.
Executives of Neuberger Berman Group LLC, now running the $155 billion money manager as an independent firm, plan to share some of their institutional-only investment strategies with investment advisers and individuals for the first time.
