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Citigroup sells stake to Abu Dhabi authority
Citigroup Inc. is selling a 4.9% stake to the Abu Dhabi Investment Authority, in a transaction valued at $7.5 billion.
Consumer confidence drifts down
Conference Board says worries about the stock market and rising gasoline prices led to 7.9-point drop in November.
Housing prices continue to slip
Prices of existing U.S. homes fell 4.5% in the third quarter, according to the S&P/Case-Shiller Home Price Indices.
Barclays to meet profit expectations
Barclays PLC said earnings will be in line with consensus, despite a £1.3 billion ($2.7 billion) write-down.
Is disinterest in retirement products problematic?
Financial advisers lack interest in new retirement income products, with many reporting that the products are too complicated and costly, according to observers.
The F word war
I would like to respond to recent comments of Sallie Krawcheck, chief executive of Citigroup Inc.'s global-wealth-management division, as quoted in "Krawcheck: Accept the F[iduciary] word" (InvestmentNews Daily, Nov. 8.).
Merrill, Morgan reps wait on fee conversion
Some brokers at Merrill Lynch & Co. Inc. and Morgan Stanley have been hesitating to use new advisory options that their firms have deployed as replacements for fee-based brokerage accounts.
Mutual fund/insurance hybrid on the horizon
As early as next year, retirees may see a new hybrid investment product that blends mutual funds with insurance guarantees, possibly signifying an alliance between the two industries.
Kennedy named NCOIL president
The National Conference of Insurance Legislators has announced a new slate of officers.
Jackson Life selects senior VP
Kevin Grant has been chosen as senior vice president of business planning services for Jackson National Life Distributors.
NFP Securities taps prez and COO
Daniel Young will be responsible for the day-to-day management of the broker-dealer.
Unemployment claims fall last week
Claims now stand at 330,000, lower than earlier this month but still up from 322,000 at this time last year.
Goldman aims for $1B charitable fund
The Goldman Sachs Group today established Goldman Sachs Gives, a donor-advised charitable fund.
‘Devastating’ oil prices daunt consumers
Consumer sentiment fell to the lowest level in two years, as rising fuel and food costs strained household budgets.
Conference Board sees slowing economy
Seven of the 10 indicators were in negative territory, led by building permits and initial claims for unemployment insurance.
Housing starts up but permits plummet
Construction of new homes rebounded in October, increasing for the first time since June.
Eaton Vance profits soar 59%
The Boston-based money manager reported earnings of $61.4 million, or 47 cents per share.
Woods to retire from LIFE Foundation
Mr. Wood's retirement ends a 13-year career at the Life and Health Insurance Foundation for Education.
Gary Wendlandt named NYLI vice chairman
He joins chief executive Sy Sternberg and Ted Mathas, chief operating officer on the board.
Sinking dollar sends oil sky high
The dollar slid to a new low against the euro today, sending the price for a barrel of crude oil to a new record high.
