Portfolio

Jefferies on Wednesday launched the TR/J CRB Wildcatters Exploration & Production ETF, an exchange-traded fund that tracks the Thomson Reuters/Jefferies CRB Wildcatters Energy E&P Equity Index and trades on NYSE Arca.

Fitch Ratings has revised its ratings on seven money market funds to its highest score, following the launch of its new rating criteria and rating scale.

Financial institutions will increase information technology spending 2.9% in 2010, after cutting budgets by 2.5% in 2009, according to research and consulting firm Celent.

While Bank of New York Mellon Corp. waits for interest rates to rise, the banking company plans to continue to look for ways to control costs this year as it expands its asset management and asset servicing businesses overseas.

In an effort to add assets – and potentially to attract teams of advisors that are leaving large wirehouses – Bridgewater Wealth & Financial Management LLP has joined Focus Financial Partners LLC, a New York-based partnership of independent wealth management companies.

Analysts had expected more companies to bid for Alico, but worries have arisen about how liquid AIG’s units are and how likely it would be to find a buyer.

Aided by a surge in assets under management, State Street Corp. reported strong growth in profits in the fourth quarter, but executives remained conservative for 2011.

The mutual fund industry is taking issue with a House bill that would permit the Federal Reserve to step in to regulate large funds that pose “a grave threat to the financial stability or economy of the U.S.”

American consumer confidence rose sharply earlier this month to the highest level it has been at since September 2008, according to the RBC Consumer Attitudes and Spending by Household Index. In fact, the index was boosted by the largest single month gain in job expectations since the index was created eight years ago.

American consumer confidence rose sharply earlier this month to the highest level it has been at since September 2008, according to the RBC Consumer Attitudes and Spending by Household Index. In fact, the index was boosted by the largest single month gain in job expectations since the index was created eight years ago.