BofA posts $1 billion loss amid consumer credit woes
Bank of America Corp posted its second quarterly loss in less than a year as it suffered from consumer credit losses. Read Full Article here.
GE profit tumbles 42 percent
General Electric Co reported a 42 percent drop in profit, as a global economic slump hammered its hefty finance arm and eroded demand for the heavy equipment it manufactures. Read Full Article here.
Goldman, JPMorgan vie to rule fixed income roost
Goldman Sachs Group (GS), the former investment bank known for aggressive risk taking, is facing a frontal assault on its traditional dominance of fixed income trading from an unlikely source: commercial bank JPMorgan Chase & Co (JPM). Read Full Article here.
U.S. construction to see 11 percent rise in 2010: report
The U.S. construction industry should see modest gains in 2010, with the building of single-family houses, apartment buildings, highways and bridges on the rise, offsetting drops in commercial and manufacturing property, the Wall Street Journal said, citing an industry report. Read Full Article here.
Facebook sees ad potential bigger than Google search ads
Facebook's chief operating officer said the social networking company was targeting a bigger ad market than the search ad market that has made Google Inc rich. Read Full Article here.
Fed's Fisher: keep rates low, inflation not a risk
The U.S. economy is recovering but the upturn will be slow and it makes no sense to raise interest rates in this climate since inflation is not a risk, a top Federal Reserve official said on Thursday. Read Full Article here.
Soros says U.S. economy will be drag on world growth
Billionaire investor and philanthropist George Soros said on Thursday that the world's current currency arrangements are fraught with danger and that the world needs global regulation. Read Full Article here.