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Consumer confidence drops
Falling home prices and higher food and fuel prices drove consumer confidence lower this month.
Oregon unveils hybrid 529 savings tool
The Oregon College Savings Plan will combine principal protection with upside potential.
ICI urges Michigan to repeal advice tax
The mutual fund trade group asks the state to repeal a new sales tax on investment advice services.
New-home sales rise, durable goods fall
Sales of new one-family homes rose 4.8% to a seasonally adjusted annual rate of 770,000 from a revised 735,000 in August.
Chinese economy surges 11.5% in Q3
Despite strong growth, numbers are down slightly from Q2 as officials make effort to curb inflation.
U.S. bracing for recession, survey says
Americans have become even gloomier about the economy, but the reality may not be all that bad, says an economist.
MBIA in red for third quarter
MBIA, the world’s largest bond insurer, reported third-quarter earnings with a net loss of $36.6 million, or 29 cents per share.
NYLI elects chief administrative officer
The board of New York Life Insurance has elected Frank Boccio to the position of executive vice president and CAO.
Merrill reels from $7.9B write-down
The worse-than-expected third-quarter losses raise questions as to the fate of chief executive Stanley O’Neal.
NYSE Reg creates risk unit
The Risk Group will be responsible for identifying, tracking and addressing key external market and industry trading developments.
Ladenburg scoops up Investacorp
Ladenburg Thalmann has acquired Investacorp, a B-D with close to 500 affiliated reps.
ACLI elects chairman, directors
The American Council of Life Insurers today elected Dennis R. Glass, president and CEO of Lincoln Financial Group, as its 2008 chairman.
Reflections of an aspiring financial planner
There just aren't enough planners to go around, according to leaders of the financial planning profession. Speaking this month in New York, Nicholas Nicolette, president of the Denver-based Financial Planning Association, said some firms will need to double or triple in size in the near future.
Phoenix, Jefferson agree to focus on fee-based advisers
The Phoenix Cos. Inc. has formed an alliance with Jefferson National Life Insurance Co. in which Phoenix will use the Jefferson technology platform to offer no-load variable annuities to fee-based advisers at wirehouses and regional broker-dealers.
Executive rises at Sun Life Retirement
Sun Life Retirement Services has named Jed Collins as its new president, succeeding Claud Accum.
Investors get portfolio jitters in October
Investor optimism stayed at par in October, but investors were glum about their own portfolios.
FBI probing Michigan firm
E-M Management Investments is at the center of a series of collapsed private partnerships.
NAIC chairman re-elected to exec committee
Michel Flamee has been re-elected chair of the International Association of Insurance Supervisors executive committee.
Dollar tanks, crude oil soars
The dollar edged up from its near-record low against the euro, while crude oil traded past the $90 mark on NYMEX for the first time.
IMSA introduces clearinghouse
The system will help life insurance companies get certifications of supervision of annuity suitability.
