Industry News

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NEWS INDUSTRY NEWS FEB 15, 2008
A first: college aid groups to meet

College Savings Foundation sets Washington summit meeting with student aid and loan groups.

NEWS FIXED INCOME FEB 15, 2008
Bank of Japan will hold rates steady

Despite economic concerns, the central bank keeps interest rates unchanged.

NEWS INDUSTRY NEWS FEB 15, 2008
Trade deficit number improves slightly

Balance of trade deficit dips to $58.2 billion in December, according to report from the Commerce Department.

NEWS INDUSTRY NEWS FEB 15, 2008
Consumers worry about recession

Consumer sentiment level falls to 16-year low.

NEWS INDUSTRY NEWS FEB 15, 2008
Odds of recession 50% or 'slightly more'

Housing, credit woes have caused economic turmoil, said former Fed chief.

NEWS INDUSTRY NEWS FEB 15, 2008
Economic growth number is anemic

Several sectors of the economy experience minimal growth.

NEWS LIFE INSURANCE AND ANNUITIES FEB 15, 2008
Congress mulls insurance regulator

Officials have testified that the time is right for a federal insurance regulator.

NEWS INDUSTRY NEWS FEB 14, 2008
RBC Dain to acquire Ferris Baker

RBC Dain Rauscher will acquire Ferris Baker Watts Inc., a broker-dealer in Washington.

NEWS INDUSTRY NEWS FEB 14, 2008
UBS posts loss; Sun Life’s earnings increase

UBS reports a record $11.3 billion fourth quarter loss.

NEWS INDUSTRY NEWS FEB 14, 2008
Euro GDP growth is slowing down

The rate of growth in European economies slipped in the fourth quarter, according to the European Union Statistics Office of Luxembourg.

NEWS LIFE INSURANCE AND ANNUITIES FEB 14, 2008
DTCC slices mutual fund, insurance fees

DTCC has trimmed fees for mutual fund and insurance transactions.

NEWS LIFE INSURANCE AND ANNUITIES FEB 14, 2008
Allianz Life arm agrees to pay $10 million fine

Insurer settles with California over allegedly inappropriate fixed annuity sales.

NEWS RETIREMENT PLANNING FEB 12, 2008
Lincoln Financial hires DC product head

Cynthia King will be head of products for the the company’s Employer Markets Defined Contribution and Executive Benefits Business segment.

NEWS INDUSTRY NEWS FEB 12, 2008
Credit Suisse, MMC, Evercore & Stifel

Credit Suisse, Marsh & McLennan and Evercore reported negative returns in the fourth quarter, while Stifel saw a 92% increase.

NEWS LIFE INSURANCE AND ANNUITIES FEB 12, 2008
Goldman offers twist on life settlements

Goldman Sachs has created an index for investors seeking opportunity in longevity and mortality risk.

NEWS RETIREMENT PLANNING FEB 11, 2008
Annuities gain ground in retirement market

Despite initial concerns about portability, cost and complexity, annuities in defined contribution plans are slowly gaining momentum, according to a new report.

NEWS INDUSTRY NEWS FEB 11, 2008
Futures markets handicap winners of primaries

Speculators seem to know more than political pundits when it comes to predicting election outcomes.

NEWS LIFE INSURANCE AND ANNUITIES FEB 11, 2008
MMC to rise above scandals

Of all the firms targeted by Eliot Spitzer when he was cleaning up abuses on Wall Street, none suffered more than Marsh & McLennan Cos.

NEWS LIFE INSURANCE AND ANNUITIES FEB 11, 2008
Clinton's run for presidency may raise profile of stalled bill

Sen. Hillary Clinton's bid for the White House may rekindle momentum behind a bill she co-sponsored last year that would offer a tax break on some annuities, according to a retirement trade group.

NEWS BROKER DEALERS FEB 11, 2008
Next Financial, Raymond James reach settlements

A broker who was recently booted from the securities industry has cost Next Financial Group Inc. and Raymond James Financial Services Inc. dearly — with the two firms paying out almost $850,000 to settle cases involving clients who got burned.