Money Management Executive Latest News

UBS on Tuesday said it will eliminate 3,500 jobs over the next two years in a cost-cutting move.

SunGard has added credit risk analysis to its SunGard Global Network Short-Term Cash Management portal, relying on data from Standard & Poors, Sector Treasury and Crane Data.

Transamerica is planning to roll out the Transamerica Global Tactical Fund in October.

The ongoing sovereign debt crisis in Europe, debt concerns in the U.S. following its credit downgrade, weak GDP growth in the U.S. and Japan still reeling from the March earthquake have put the global economy in a fragile state, according to Business Monitor International.

A barrage of dour economic reports, the recent market correction, the U.S. credit downgrade, job insecurity and lower individual net worth pulled the Bankrate Financial Security Index down to 92.3.

U.S. prime money market funds are lowering their exposure to European banks and holding shorter maturity securities, Fitch reports.

With stocks bouncing around like they’re on a trampoline, it can be difficult for investors to find companies that offer any possibility of steady growth or protection against a further slump -- particularly with the economy looking increasingly weak.

Tom Steinert-Threlkeld

Bank of America will lay off at least 3,500 employees in the next few months.

iShares has launched the iShares MSCI Emerging Markets Small Cap Index Fund.