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Columbia Management has launched the Columbia Acorn Emerging Markets Fund and the Columbia Acorn European Fund, each of which will invest in companies with market caps of less than $5 billion.

U.S. investors may be overly worried about the fate of the euro, and overly confident in the U.S. dollar.

Bank of America Corp. has received a vote of confidence from legendary investor Warren Buffett and sealed an agreement for his company, Berkshire Hathaway Inc., to inject $5 billion into the bank in a private offering.

Two-thirds of donors are cutting back on their charitable giving due to economic worries, a survey by non-profit consulting firm Dunham+Company found. Another 10% plan to cut back entirely until the economy gets back on track.

Investors withdrew -$772 million from long-term mutual funds in the week ended Aug. 17, the Investment Company Institute reported. This was a 360-degree turn from the -$40 billion in redemptions the previous week—and a full $62 billion in withdrawals in four weeks prior.

Slightly more than $1 billion flowed back into mutual funds that invest in U.S. stocks long-term, in the week ended Aug. 17.

A flurry of law firms late Tuesday said that a class action had been started against clearer Penson Worldwide, over "materially false and misleading statements" about the Dallas firm's financial condition.

Over the next 25 years, the U.S. economy will reinvent itself by returning to its agricultural roots. The big banks will stagnate in size. Banking as a whole will contract. Superregionals are coming back.

Steve Jobs' resignation as Apple Computer's chief executive may prove a mixed bag -- but a critically important one -- for banks.

A former Morgan Stanley Dean Witter stockbroker was sentenced this week to almost five years in prison and ordered to pay his former employer $1.5 million in restitution in connection with fraud charges.