PITTSBURGH, Oct. 14, 2020 /PRNewswire/ — The PNC Financial Services Group, Inc. (NYSE: PNC) today reported:

For the quarter

In millions, except per share data




Net income (loss) from continuing operations




Net income from discontinued operations



Net income




Diluted earnings (loss) per common share from continuing operations




Diluted earnings per common share from discontinued operations



Diluted earnings per common share





     “PNC delivered solid third quarter results against the backdrop of a continuing uncertain economy. Noninterest income increased, expenses were well managed and we continued to generate positive operating leverage. Deposits grew while loans declined as a result of lower commercial loan utilization rates, despite

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Power Index Premier® NY with Lifetime Income Builder Combines Principal Protection with a Lifetime Income Guaranteed to Rise for up to 15 Years

AIG Life & Retirement, a division of American International Group, Inc. (NYSE: AIG) and a leading provider of annuities, today announced the launch of the Power Index Premier NY Index Annuity with Lifetime Income Builder.

Developed exclusively for the state of New York, Power Index Premier NY is currently the only index annuity that gives New York residents the option of a living benefit rider. Guaranteed living benefit (GLB) riders typically provide lifetime income that can help keep pace with rising retirement costs. The Lifetime Income Builder GLB rider, available exclusively with Power Index Premier NY, delivers lifetime income that is guaranteed to grow every year that income is deferred for up to 15 years.

In an environment of heightened economic and market uncertainty, Americans are

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If you’ve ever looked into your projected Social Security benefit, you know that living solely off your government check isn’t a great option. On average, Social Security only replaces about 40% of your working income, which spells a massive pay cut if that’s your only source of cash in retirement. To head off a major lifestyle downgrade, you need savings — at least enough to double the income you’ll make off Social Security alone.

There is good news, though. If you have time on your side, it only takes a few hundred bucks monthly invested in an S&P 500 index ETF to meet that savings goal.

Why double your Social Security income?

Financial experts estimate that most people will need 80% of their working income to cover living expenses in retirement. That number assumes you’ll stop making 401(k) contributions and spend less on transportation and eating out.

Man in suit wearing glasses holding money.

Image source: Getty

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Wells Fargo  (WFC) – Get Report posted third-quarter earnings that missed analysts’ forecasts as low interest rates resulted in a drop in net interest income, and on higher-than-expected pandemic-related operational costs.  

The San Francisco-based bank reported net income of $2.04 billion, or 42 cents a share, for the third quarter, vs. $4.61 billion, or 92 cents a share, in the comparable year-earlier quarter. Analysts polled by FactSet had been looking for earnings of 44 cents a share.

Net interest income was $9.4 billion, down $2.3 billion and below analysts’ forecasts of $9.6 billion. Non-interest income was $9.5 billion, down $891 million. Average deposits rang in at $1.4 trillion, up $107.7 billion, or 8% from a year earlier.

Revenue came in at $18.9 billion, down from $22 billion in the third quarter of 2019 though above FactSet estimates of $18 billion. 

The net income figure included $1.2 billion of

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New study findings from Allianz Life indicate SECURE Act driving strong interest in lifetime income options in retirement, particularly among nervous Gen Xers

Key findings snapshot:

  • 71% of employer-sponsored participants would like an option that offers guaranteed income for life in their plan

  • 75% of Gen Xers expressed interest in protection options as part of their employer-sponsored plan

  • 55% of participants are worried that money in their employer-sponsored plan will run out during retirement, with 69% of Gen Xers expressing the same concern

Americans with employer-sponsored retirement plans continue to express high levels of interest in guaranteed lifetime income options according to a recent study* from Allianz Life Insurance Company of North America (Allianz Life). The findings indicate that 71% of participants in an employer-sponsored plan would like an option that offers guaranteed income for life in their plan, while 58% said they would like an annuity as part of

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(Postal Trust Realty – Properties)

2020 has been a very difficult year for most REITs. The popular Vanguard REIT ETF (VNQ) is still down double digits this year. Retail, commercial, and lodging REITs have been hit the hardest as COVID lockdowns have led to a decline in rental revenue. However, there are a few niche segments of the REIT industry that have been almost entirely unimpacted by the crisis. One of which is Postal Realty Trust (PSTL).

PSTL is one of the most unique REITs on the market. The company has one tenant, the U.S. Postal Service and, currently, owns about 700 properties and 3.9M sqft of postal properties. These properties are all over the country and have a 100% occupancy rate. PSTL is a relatively new REIT that was launched last year and, as you can see below, has had roughly flat performance since inception:

ChartData by YCharts


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Billionaire Jennifer Pritzker may have abandoned President Donald Trump for the Democrats, but she’s still siding with the Republicans on her cousin’s coveted graduated income tax proposal.

The retired Army National Guard colonel on Tuesday contributed $500,000 to the Coalition to Stop the Proposed Tax Hike Amendment, a group opposed to what Democratic Gov. J.B. Pritzker and his supporters prefer to call the “Fair Tax.”

That’s twice what Jennifer Pritzker donated to committees backing Trump four years ago before breaking with the Republican president on LGBTQ issues.

This time around, the transgender advocate has contributed lesser amounts to support Democratic presidential candidates Mayor Pete Buttigieg during the primary and then Joe Biden.

The donation from Jennifer Pritzker, the first transgender billionaire, to the Coalition to Stop the Proposed Tax Hike Amendment was reported to state election officials on Tuesday. In a statement, she warned the amendment could eventually be used

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All investors want to make as big a return as they can from the stock market. Alongside time in the market and costs incurred, the percentage return achieved is one of the biggest contributors to growing your money. If you want to generate wealth through the stock market, you need to improve your performance and your returns. I’m aiming to make returns of 25% a year from income and growth shares.

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Pick quality income and growth shares 

To have any chance of reaching the ambitious target of 25% annual growth, I’ll need to pick quality shares. I think one way to do this is to look at shares that currently combine both income and growth. I’ll want to see that a company has a history of being able to consistently increase dividend

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NAPERVILLE, Ill., Oct. 13, 2020 /PRNewswire/ — Calamos Investments®* is celebrating the 30-year anniversary of the Calamos Market Neutral Income Fund (CMNIX), one of the first ever alternative mutual funds when it launched in the fall of 1990, and now one of the largest funds in the liquid alternatives category.

The fund, with AUM over $10 billion (as of 9/30/20) and rated five stars by Morningstar1, was conceived by Calamos Investments Founder and Chairman John P. Calamos, Sr., one of the world’s foremost experts on convertible securities and volatility-based investing. It combines two complementary strategies: convertible arbitrage aimed at delivering alpha and uncorrelated returns and options writing for income and upside participation. 

“The fundamental driver behind MNI was that individual investors—like the institutional players that were beginning to diversify into hedge funds and other low beta strategies at the time—also deserved access to an investment

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DUBLIN, Oct. 13, 2020 /PRNewswire/ — The “Income Protection – United Kingdom (UK) Protection Insurance 2020″ report has been added to ResearchAndMarkets.com’s offering.

The report provides an in-depth assessment of the income protection market, looking at current and historical market sizes with regards to changes in contracts and premiums. It examines how income protection products are distributed and highlights key changes in the competitive landscape, as well as the proposition of the key market players. It provides five-year forecasts of contracts and premiums to 2024 and discusses how the market, distribution, and products offered are likely to change in the future, as well as the reasons for these changes.

The UK’s income protection market has grown strongly in recent years. Of the main protection products, income protection was the only product to register double-digit growth in premiums in 2019. Advised sales remain far more common than non-advised sales. However,

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