Some advisors prefer clients with assets in the $500,000 to $2 million range over the ultrawealthy—they are less maintenance.» Read More
BOSTON, May 23- The average 401 retirement balance for U.S. workers hit a record high of $80,900 in the first quarter, a growth spurt of 75 percent since the stock market's nadir in March 2009, Fidelity Investments said on Thursday based on a survey of its accounts.
NEW YORK, May 22- New Hampshire's House of Representatives rejected a bill on Wednesday that would have authorized the construction of the state's first casino, bucking a regional trend toward easing restrictions on gaming in New England.
WASHINGTON, May 22- Three congressional hearings during the past week have allowed lawmakers to vent their anger at the U.S. tax agency for its targeting of conservative groups for extra scrutiny, but the sessions have yielded few answers about who was responsible.
HARRISBURG, Pa.-- Pennsylvania's debt-laden capital city will have a new mayor next year, but he could have little role in sorting out the pressing financial problems that dragged Harrisburg to the brink of bankruptcy after an unprecedented takeover by the state.
May 22- Cybersecurity researcher HD Moore discovered he could use the Internet to access the controls of some 30 pipeline sensors around the country that were not password protected. U.S. national security experts used to take comfort in the belief that "rational" super powers like China or Russia were their main adversaries in cyber space.
By Kim Dixon and Patrick Temple-West. WASHINGTON, May 22- The Internal Revenue Service official at the center of a scandal about extra tax scrutiny of conservative groups told Congress on Wednesday she had done nothing wrong but invoked her constitutional right not to answer questions.
NORWOOD, Mass.-- LTX-Credence Corp. narrowed its fiscal third-quarter loss on improved revenue, but semiconductor equipment testing company's results and its fourth-quarter forecast missed market expectations. LTX-Credence's net revenue increased to $36.3 million from $30.8 million.
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.