Fitch Ratings has affirmed Fannie Mae’s long-term issuer default rating, or IDR, at ‘AAA’, but it downgraded Fannie’s preferred stock rating to ‘A+’ from ‘AA-’.
Fannie Mae’s preferred stock also remains on rating watch negative, where it was originally placed on May 6 by the credit rating agency.
The affirmation of Fannie’s long-term IDR and senior debt [...]
Stocks rallied anew today as financials continued their revival and crude oil prices retreated below $130 a barrel.
The Dow Jones industrial average closed up 207.38, or 1.85%, at 11,446.66; the S&P 500 rose 14.95, or 1.2%, closing at 1,260.31; and the Nasdaq composite was up 27.45, or 1.2%, to close at 2,312.30. All numbers are [...]
The major U.S. indices rose Thursday following a slew of corporate earnings statements and a steep drop in the price of oil.
The Dow Jones Industrial Average advanced 207 points, or 1.9%, at 11,447, and the S&P 500 climbed 15 points, or 1.2%, to 1260. The Nasdaq was up 27 points, or 1.2%, at 2312.
For the [...]
NEW YORK (AP) - Moody’s Investors Service downgraded the senior long-term debt of Merrill Lynch & Co. to “A2″ from “A1″ Thursday to after the world’s largest brokerage posted a $4.9 billion second-quarter loss, hurt by massive write-downs from mortgage-backed securities and other risky investments.
The ratings agency said the company’s financial flexibility is more limited [...]
Ashbel C. Williams Jr. was offered the position of executive director/CIO of the $163.5 billion Florida State Board of Administration, Tallahassee, pending contract negotiations and trustees’ approval.
Trustees have instructed Robert Milligan, interim executive director, to negotiate contract terms with Mr. Williams, who was executive director of the Florida SBA from 1991 to 1996, according to [...]
DWS Scudder today announced that it has changed its name to DWS Investments, representing a complete alignment of Deutsche Asset Management’s (DeAM) US and worldwide retail asset management organization, DWS Investments.
“The name change to DWS Investments reflects the next step in the evolution of our business,” said Axel Schwarzer, CEO of DWS Investments US. “It [...]
The Securities Law Firm of Klayman & Toskes, P.A. said today that several states paid a surprise visit to Wachovia’s (NYSE:WB) St. Louis Headquarters seeking to conduct interviews and obtain documents regarding the Brokerage Firm’s sales and marketing practices of Auction Rate Securities. All of the state regulators are members of the North American Securities [...]
BlackRock today reported a jump in assets under management for the second quarter, while JPMorgan Chase and BNY Mellon said their asset totals remained unchanged from the previous quarter.
BlackRock reported $1.43 trillion in assets, up 5% from the first quarter and up 16% from the previous year. Management fees in the second quarter were $1.2 [...]
While hiring a spouse will likely lead to one or two lover’s quarrels, the benefits can often outweigh potential downfalls. Indeed, say small-business consultants and accountants, whether it’s moral support, less expensive labor or lower health-care costs, hiring a spouse can provide a number of advantages.
Would you like to hire a great assistant, while at [...]
These are the traditional pension plan arrangements that were common years ago but have fallen out of favor — except for some large employers and labor unions. With a DB plan, annual deductible contributions are mandatory — at least until the plan becomes fully funded, which can take years.
The annual amount that must be contributed [...]
