A Northbrook, Ill.-based insurer sued Goldman Sachs and its affiliates for allegedly selling the insurer more than $123 million in securities backed by poor-quality mortgages between 2006 and 2007.

The earthquake in Japan, where estimated losses would make it the worst disaster in history, will affect insurance rates in the U.S., according to industry experts.

With the cost of containment and cleanup of a massive oil spill in the Gulf of Mexico rising into the billions of dollars every day, the financial impact for oil company BP will be limited because of its insurance coverage.

Fidelity Investment lost its top-dog status as the number one distributor and mutual fund provider to rivals Charles Schwab and Vanguard, according to a new report.

The Wall Street Journal reports that Morgan Stanley will soon offer a services-based pricing structure instead of one based on product.

While some independent brokerages offer such a plan — akin …  Read →

Citigroup’s Smith Barney, which three years ago merged much of Baltimore-based Legg Mason into its operation, sold control of the company to Morgan Stanley for $2.7 billion, according to the Baltimore …  Read →