Portfolio

To attract more business from small businesses, Bank of America Merrill Lynch announced Thursday it relaunched a retirement services platform for companies with fewer than 100 employees.

WASHINGTON — Berkshire Hathaway Inc.’s Warren Buffett warned a panel investigating the causes of the financial crisis Wednesday that states and localities may face “terrible” financial distress in the next five to 10 years that in turn could lead some to look to the federal government for bailouts.

Morgan Stanley Smith Barney is intensifying its campaign to increase its wealth management and private banking footprint nationally as it hired in New York and Miami as well as a planned expansion in Charlotte, N.C.

As many as 11,000 wirehouse advisers may be on the move, according to a report by Aite Group in Boston.

A former Merrill Lynch broker is out one red Ferrari.

U.S. corporations have hearty cash flows. Consumers are inclined to keep spending. And European banks have the means to weather a sovereign debt default, according MFS Investment Management.

Rising costs and adjusted benefits don’t put annuity buyers off.

Long-term mutual funds lost money in every category, except for bonds, for a total of $16.6 billion walking out the door in the week ended May 26, the ICI said.

Berkshire Hathaway Inc.’s Warren Buffett warned a panel investigating the causes of the financial crisis Wednesday that states and localities may face “terrible” financial distress in the next five to 10 years that in turn could lead some to look to the federal government for bailouts.

JPMorgan, consistently one of the top municipal bond underwriters, has been responding to increased appetite in the market recently by expanding its retail networks, marketing taxable munis for international distribution, and bulking up its public finance staff.