Second quarter data was not as strong as the 2.5% rate that had been predicted by economists polled by Thomson Reuters.
The nation's largest brokerage firm will buy securities held by 30,000 clients.
The Securities and Exchange Commission has announced a “preliminary settlement” with Citigroup.
Falling oil prices and a recovering stock market have halted the precipitous drop in consumer confidence prevalent throughout 2008, according to new data.
Marsh & McLennan Cos. of New York reported that its second quarter profit fell 63%to $65 million, or 13 cents per share.
The Massachusetts pension board fired five managers, including Legg Mason Capital Management.
Twelve finalists for the second annual Community Leadership Awards have been named.
The European Central Bank — the central bank for the Eurozone currency area — today decided to leave its three key benchmark interest rates unchanged.
Mario Gabelli plans to raise $200 million to buy a financial services, media or telecommunications company.
Freddie Mac of McLean, Va., today reported a second-quarter loss of $821 million, a decline of $1.63 per diluted share.
Ameriprise Financial Inc. has made a splash in the roiling M&A acquisitions market for independent broker-dealers.
Net income at the Société Générale slipped to $1 billion from $2.36 billion in the 2007 second quarter.
A number of Eaton Vance's closed-end funds will redeem approximately $176 million in ARPS.
Personal spending increased 0.8% in June, marking the steepest one-month gain since a 1% increase in February 1981.
With operational costs growing and financial advisers in short supply, the demand for talent has put the value of young financial planners at a premium, according to industry guru Mark Tibergien.
Tax loss harvesting and defensive portfolios have been the way to go for financial advisers who rely on separately managed accounts — particularly during rocky equity markets.
As fallout from the mortgage crisis leads to tighter restrictions on lending, some financial advisers are finding opportunities to fill a void for their clients by entering the lending business.
HSBC's net income for the first six months was down 29% at $7.7 billion, compared with $10.9 billion a year ago.
Adviser confidence in the economy and stock market dropped even further last month, according to Rydex AdvisorBenchmarking Inc.'s Advisor Confidence Index.
The bank has outstanding liabilities of $100 million to $500 million and fewer than 50 creditors, according to the filing.
