Some advisors prefer clients with assets in the $500,000 to $2 million range over the ultrawealthy—they are less maintenance.» Read More
BOSTON-- Eaton Vance Corp. said Wednesday its fiscal second-quarter net income jumped 20 percent, as an increase in its assets under management boosted investment and advisory fees. For the quarter ended April 30, the investment manager earned $63.7 million, or 50 cents per share, up from $52.9 million, or 44 cents per share, in the same quarter the year before.
CNBC has been ranking all 50 states for competitiveness since 2007. This year's report comes as states continue to get back in fighting shape—fighting for jobs, that is.
We score all the states on 55 measures of competitiveness and 10 categories, from the cost of doing business to technology and innovation.
Some advisors prefer clients with assets in the $500,000 to $2 million range over the ultrawealthy—they are less maintenance.
WASHINGTON/ BOSTON May 21- Several power utilities say they face a barrage of cyber attacks on their critical systems, a report by two Democratic lawmakers found echoing warnings from the Obama administration that foreign hackers were trying to bring down the U.S. power grid.
WASHINGTON-- Brokerage firm LPL Financial will pay a $7.5 million fine to the Financial Industry Regulatory Authority and set aside $1.5 million to compensate clients for email system problems that kept it from retaining and retrieving millions of emails as required by law.
*Bernanke to testify before Congress on Wednesday. The euro rose 0.2 percent to $1.2906, having reached a session peak of $1.2933 and moving away from a six-week low of $1.2795 touched on Friday, according to Reuters data. Focus now shifts to Fed Chairman Ben Bernanke's testimony to Congress at 10 a.m. 1400 GMT) on Wednesday.
WESTON, Mass.-- Specialty drugmaker Biogen Idec said Tuesday it submitted a new injectable multiple sclerosis drug to the Food and Drug Administration for U.S. market approval. The company also plans to submit the drug to the European Medicines Agency in coming weeks. Shares of Biogen Idec Inc. rose $6.15, or 2.7 percent, to close Tuesday at $231.33.
May 21- Federal Reserve Chairman Ben Bernanke is an optimist about economic growth in the coming decades, rejecting "depressing" views about a slowdown to put his faith in collaborative innovation driven by a jackpot culture for inventors. Bernanke, speaking last weekend to graduates at Bard College at Simon's Rock, in Massachusetts, was having nothing of it.
BOSTON, May 21- Several U.S. power utilities say they face constant cyber attacks on critical systems, according to a report by two Democratic lawmakers amid warnings from the Obama administration that foreign hackers are seeking to attack the electric grid.
SANTA FE, N.M.-- New Mexico is switching gears on its plan for a health insurance exchange and initially will partner with the federal government for computer services needed for an online insurance marketplace.
NEW YORK, May 21- An activist investor in Alere Inc wants the health diagnostics and services company to explore a sale of its drug testing business, which it believes could fetch as much as $2.5 billion and help Alere pay down debt, two people familiar with the matter said on Tuesday.
May 21- LPL Financial LLC must pay a total of $9 million for significant email system failures and making misstatements to Wall Street's watchdog, the regulator said on Tuesday.
The revenue hit faced by Cubist Pharmaceuticals from generic competition may not be as dramatic as it has been for other drugs, Cantor Fitzgerald said Tuesday, as it raised its rating on the drugmaker.
WESTPORT, Conn., May 20- Connecticut rail commuters endured crowded and rerouted rides in to work on Monday, as Metro-North worked to repair the busiest U.S. rail line after a two-train collision and derailment injured more than 70 people late last week.
BOSTON-- The price of a gallon of gas in Massachusetts is up a penny. AAA Southern New England reports Monday that self-serve, regular crept up to $3.49 per gallon in the past week. AAA found self-serve, regular selling as low as $3.35 per gallon and as high as $3.69.
WASHINGTON, May 20- In a case involving whistleblowers at Fidelity Investments, the U.S. Supreme Court on Monday agreed to consider whether mutual fund employees are subject to the same whistleblower protections as workers at publicly traded companies.
HARTFORD, Conn.-- Traffic in southwest Connecticut could be a mess for as much as a week until service is restored to the commuter rail line affected by a derailment that injured scores of passengers, Gov. Dannel P. Malloy warned Sunday. "Tomorrow's commute will be extremely challenging," he said at a brief news conference in Hartford. "
BOSTON, May 20- When the Patient Protection and Affordable Care Act, aka Obamacare, starts rolling out in October, it will overhaul how Americans get healthcare coverage.
LOS ANGELES, May 20- In October 2004, then California Governor Arnold Schwarzenegger rolled up to a pioneering fueling station at Los Angeles International Airport in a hydrogen-powered metallic blue Hummer loaned to him by General Motors Corp..