Bloomberg News

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Erie Billionaire Hagen Revealed As Car Premiums Surge

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Susan Hirt Hagen, the daughter of Henry Orth Hirt, one of the pioneers of the car insurance industry, has been a billionaire for years -- and has never appeared on an international wealth ranking.

U.S. Equity Funds Get Highest Deposits Since at Least 2007

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Stock mutual funds in the U.S. attracted $14.8 billion in net new money last week as investors returned to domestic equities.

Married Couples Penalized By New Tax Laws

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Tax increases will pinch married couples faster than individuals.

FBR Founder’s Fund Profits From Big Government Bemoaned by Bacon

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For many hedge funds, financial rules and state intervention in markets are anathema. But one fund has seen intervention as opportunity.

Goldman Keeping Lid on Pay Amid Revenue Rebound Cheers Investors

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Goldman Sachs Group Inc., the securities firm that set a Wall Street compensation record in 2007, is now demonstrating how little it can pay.

SEC To Propose Money-Market Overhaul By April, Gallagher Says

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A second effort to overhaul rules governing the $2.6 trillion money-fund industry will be offered by the SEC before the end of March, SEC Commissioner Daniel M. Gallagher said today.

Genworth Surges On Plan To Isolate Mortgage Unit

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Genworth Financial Inc. posted the biggest gain in the S&P 500 Index on CEO Tom McInerney’s plan to distance the mortgage-guaranty unit from the rest of the company.

BNY Mellon Profit Rises 23% As Stock Market Gains Add Assets

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Bank of New York Mellon Corp., the world’s largest custody bank, said fourth-quarter earnings rose 23 percent as higher client assets boosted revenue.

IRS Sets Simpler Rules For Taking Home-Office Tax Deductions

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U.S. taxpayers will be able to make a simplified calculation to claim up to $1,500 in home-office deductions, the Internal Revenue Service said.

Asset Plunge Leads Legg Mason To Fold Miller Unit Into ClearBridge

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Legg Mason Inc., the money manager best known as home to stockpicker Bill Miller, is folding Miller’s division into its ClearBridge Investments equity unit as assets have tumbled.

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