Merrill Lynch & Co's head of structured finance and investments Michael Blum is leaving the company as the brokerage scales back its securitization business, people familiar with the matter told Bloomberg.

Fitch Ratings said Friday it expects to assign an 'A+' rating on equity units issued by American International Group Inc., the world's largest insurer.

Stocks decline as AIG reveals need for cash, oil surges NEW YORK (AP) _ Wall Street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and surging energy prices. All three major indexes suffered losses for...

Safeco Corp. said Wednesday its board declared a regular quarterly dividend of 40 cents. The property and casualty insurer said the dividend is payable July 28 to shareholders of record July 11.

First Marblehead Corp. shares fell sharply Friday after the student-loan services provider reported a quarterly loss, as the market for bundles of loans stayed frozen.

Shares of most diversified financial-services companies dropped on Friday, as investors' concerns increased about continuing fallout from the credit market crisis and rising oil prices.

Shares of large pharmaceutical companies closed lower Friday as the broader market tumbled over wider-than-expected losses at insurer American International Group Inc. and a spike in oil prices.

Shares of biotechnology companies closed mixed Friday as the broader market tumbled over wider-than-expected losses at insurer American International Group Inc. and a spike in oil prices.

Shares of real estate investment trusts ended lower Friday amid wider-than-expected losses at insurer American International Group Inc. and escalating oil prices.

Investment adviser and financial planning company Ameriprise Financial Inc. spent more than $206,000 lobbying the federal government in the first quarter on a variety of financial issues.

Treasury prices mostly rose Friday after steeper-than-expected losses at insurer AIG stirred fresh concern about strains still taxing the global financial system and as stocks retreated following another advance in oil prices.

Following is a summary of top stories in the energy sector Friday afternoon: Oil tops $126 a barrel for first time

Credit ratings agency Moody's Investors Service on Friday said it was reviewing American International Group's senior unsecured debt rating for a possible downgrade a day after the insurer said it lost $7.81 billion during the first quarter.

The vice chairman of property and casualty insurance provider Chubb Corp. exercised options for 91,810 shares of common stock, according to a Securities and Exchange Commission filing Wednesday.

Shares of Franklin Resources Inc. rose Friday, after the investment manager said its assets under management increased during April. Franklin Resources shares rose $2.56, or 2.7 percent, to $100.04 in afternoon trading. Shares have traded between $83.27 and $145.59 during the past year.

Shares of Allied World Assurance rose sharply Friday, a day after the insurer said first-quarter earnings rose 15 percent. Allied World Assurance shares rose $3.07, or 7.5 percent, to $43.78. Shares have traded between $38.29 and $53.48 during the past year.

U.S. producers of corn-based ethanol used to be able to promote their business and their shares with a blend of patriotism and eco-sensitivity other industries could only envy.

United Western Bancorp Inc. said Wednesday its board declared a regular quarterly dividend of 6 cents. The bank holding company said the dividend is payable June 16 to shareholders of record June 5.

The Center for Responsible Lending, a consumer group pressing for tighter controls on lending practices, spent $180,000 lobbying in the first quarter.