High-net-worth donors relied more on lawyers and accountants for philanthropic advice than financial advisers in 2007, according to a survey released Monday by Bank of America.
Eaton Vance Corp. posted a 43% profit drop for its fiscal fourth quarter today after incurring $17.4 million in impairments stemming from the credit crunch.
The U.S. real gross domestic product declined to a revised 0.5% in the third quarter, marking its biggest drop in seven years, the Department of Commerce reported today.
The New York-based accounting firm yesterday paid the settlement in connection with its auditing service for Philadelphia-based Reliance Insurance Co., a carrier that’s now in liquidation.
Ameritas Life Insurance Co. of Lincoln, Neb., will offer a new version of its new variable universal life policy Jan. 1 as the company tries to conform to new mortality tables.
The British government today announced a 20-billion-pound ($30 billion) stimulus plan to try to get the United Kingdom through its first recession in 17 years.
Saying that the country faced an “economic crisis of historic proportions,” President-elect Barack Obama introduced the members of his economic advisory team this morning.
Even though alternative investments that follow hedge-fund-like strategies are currently frowned upon because of poor absolute performance, Nuveen Investments LLC is betting that such investments once again will be viewed favorably.
As representatives from the American auto industry plead for a multibillion-dollar federal bailout, some financial advisers are already bracing for worst-case scenarios that could leave thousands of autoworkers, retirees and those working in related industries scrambling to fill retirement and health care funding gaps.
Now that the Federal Reserve Board has cut the federal funds rate to 1%, the focus needs to be on increasing liquidity, St. Louis Federal Reserve Bank president James Bullard said yesterday.
Roger W. Crandall, co-COO, executive vice president and chief investment officer, will take on the role of president, presently held by chairman and chief executive Stuart H. Reese.
MetLife Inc. of New York said that State Street Global Advisors in Boston will subadvise a pair of exchange-traded-fund-focused asset allocation portfolios for the carrier’s variable annuities.
The exposure was in four transactions: two collateralized-debt-obligation squared transactions and two high-grade CDOs of asset backed securities.
This week, three more insurers announced their intentions to apply for to the Department of the Treasury’s Capital Purchase Program.
The number of Americans filing claims for first-time unemployment benefits rose by 27,000 to a seasonally adjusted 542,000 for the week ended Nov. 15 — a 16-year high, according to data from the Department of Labor.
The Conference Board's index of leading indicators, which measures the economic outlook for the next three to six months, fell 0.8% in October in a sign that the economy will continue to suffer in the months ahead.
The consumer price index, a key indicator of inflation, fell 1%, marking the largest monthly decline since the index was first computed in 1947, according to the Department of Labor.
Index annuity sales crept up during the third quarter, hitting $6.7 billion, according to data from AnnuitySpecs.com of Pleasant Hill, Iowa.
The producer price index fell by a record 2.8% in October, as energy prices plunged by the largest amount in 22 years, the Department of Labor reported.
