The Massachusetts Securities Division is calling on 401(k) plan administrators to report how many companies have shifted to a lump-sum matching contribution once a year, a change that can undermine worker savings.
Carl Icahn, the shareholder activist who waged two proxy fights for board seats at Forest Laboratories Inc., stands to earn almost $1.7 billion in gross profits on his 11 percent stake in the drug company.
The largest holders of Puerto Rico bonds are betting that a planned debt sale by the commonwealth will fuel a rally in its securities by alleviating doubts the U.S. territory can raise funds in the capital markets.
Investors including BlackRock Inc. and Vanguard Group Inc. say Puerto Rico’s finances hinge on its ability to carry out a planned debt sale this month after the territory’s credit rating was cut to junk.
It took Abigail Johnson 25 years to take charge at Fidelity Investments, the money manager controlled by her father. As she picks a new head for the firm’s asset-management unit, her choice is likely to be a company veteran who rose through the ranks like she did.