Bank of america Stories
Chinese Banks' Bad Loan Nightmare
China's credit risk is probably much worse than the official non-performing loan (NPL) data suggests, according to Société Générale's China macro strategist Wei Yao.
Leonardo DiCaprio Reportedly Will Appear Nude In New Martin Scorsese Film
Audiences are going to be able to get a behind the scenes look at Leonardo DiCaprio's body. The "Titanic" and "Inception" superstar will reportedly be nude in his new movie-- Martin Scorsese's "The Wolf of Wall Street," the Daily News reported.
Citigroup Settles Shareholder CDO Suit For $590 Million
Citigroup Inc agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets, one of the largest settlements stemming from the global financial crisis.
US 2Q GDP Revised Up To 1.7%, Stock Futures Point To Slight Gains
The U.S. economy expanded slightly faster than initially thought in the second quarter, but the pace of growth is still too slow to create enough jobs and drive down the unemployment. Economists are forecasting even slower growth in the second half of 2012, which will probably keep expectations of additional monetary stimulus from the Federal Reserve intact.
Merrill Edge Makes Online Investing More Powerful and Easy
Investing and personal wealth management were made more accessible by Bank of America Merrill Lynch with its so-called online trading platform Merrill Edge.
Kansas City Fed Jackson Hole 2012: Ben Bernanke Will Likely Disappoint On QE3 Hopes
Will Federal Reserve Chairman Ben Bernanke launch QE3 from the Federal Reserve Bank of Kansas City's annual Jackson Hole symposium, which will take place from Aug. 30 to Sept. 1? Economists doubt it.
Jackson Hole, Bernanke And Draghi: Economic Events for Aug. 27-31
The biggest event this week is Friday's Jackson Hole meeting. While this week's economic calendar is rather packed, Wall Street seems to care more about Federal Reserve Chairman Ben Bernanke's speech at the Kansas City Fed's annual economic symposium.
How Much Will Libor Suits Cost Banks?
Banks involved in London interbank offered rate benchmark, or Libor, manipulations could be liable for billions of dollars in lawsuits from a slew of financial firms and investors who were affected by the distortions, according to reports.
Bank Of America Exits Debt-Protection Products Amidst Industry Scrutiny
Bank of America Corp. (BAC) discontinued credit protection services to customers as it came under scanner for allegations of customer enrollments through improper practices and charging customers without consent. A class action suit is reportedly pending against BAC on the issue.
US Stocks About To Fall Off A Cliff - Analysts
There's an almost-daft energy over Wall Street at the moment as stocks keep to four-year highs, a trend that hasn't kept analysts from warning that the party is about to be over.
FOMC Minutes, Housing Data, Euro Zone PMI: Economic Events For Aug. 20-24
The minutes of the July 31-Aug. 1 meeting of the Federal Open Market Committee, to be released on Wednesday, will dominate markets in a week light on data.
Miami Dolphins vs. Carolina Panthers: Watch Live Stream Online, Preview, Prediction of Ryan Tannehill’s First NFL Start
The Miami Dolphins face the Carolina Panthers in their second preseason games of the 2012. Here's how to watch a live stream online of Ryan Tannehill against Cam Newton.
Jackson Hole QE3 Guessing Game Heats Up
Two years after Federal Reserve Chairman Ben Bernanke announced plans for a massive second round of monetary stimulus at a yearly Fed summit in Jackson Hole, Wyo., market watchers are beginning to take odds on the chances that his speech at this year's Jackson Hole summit could produce a similar announcement.
Luxury, Discount Retailers Post Higher Quarterly Earnings
A mix of luxury brands and discounters reported quarterly earnings that topped expectations, results that underscored a broader report showing U.S. retail sales broke three consecutive months of declining growth in July as consumers regained some semblance of confidence this summer.
Bank Of America Sells Merrill Unit To Julius Baer - A List Of Assets Sold Since 2011
Bank of America Corp. (NYSE: BAC), the lender divesting assets to raise capital, said Monday it has agreed to sell Merrill Lynch's International Wealth Management business outside the U.S. to Swiss private bank Julius Baer Group Ltd.
Shanyna Isom Has Rare Disease Causing Fingernails To Grow Where Hair Should [PHOTOS]
One year ago this month, 28-year-old Shanyna Isom discovered she had a rare disease causing fingernails to grow from the follicles where her hair should all over her body.
US Regulators Tell Big Banks To Develop Collapse-Prevention Plan: Reuters Exclusive
U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
Nomura Urges Dumping Accused Money Launderer Standard Chartered For Admitted Money Launderer HSBC
Citing reputation and legal risk, several brokers downgrade their recommendations of British bank Standard Chartered Tuesday. But one broker's suggestion stood out from the rest
The Largest Company You've Never Heard Of: G4S And The London Olympics
The world's third-largest employer suffered a damaged reputation in the wake of its mismanagement of security in London, but it may keep growing all the same. It has always done so.
Knight Capital Being Saved By Very People It Tried to Screw Over
There's one developing storyline in the saga of Knight Capital Group Inc., the Wall Street market maker that lost more than $440 million Wednesday when an automated trading program it had just installed went berserk, that's not being talked about: It is being propped up by the very people it tried to screw over.
Bank Stocks Throw a Party But Forget To Invite JPMorgan
Shares of U.S. banks of all sizes and specialties rose Friday over 3 percent, handily beating the performance of the wider stock market, which itself was in a head-first rally following a week of disappointing news. But there was one big exception to the equity party: megabank JPMorgan Chase and Co. (NYSE:JPM), which looked poised to underperform its peers in late-afternoon trading.
July Employment Report Sparks Risk-On Sentiment In Markets
The U.S. government's report Friday that 163,000 jobs were created last month, far more than expected, sparked a risk-on sentiment among investors.
US Unemployment Rate Likely Stuck At 8.2% in July, With Tepid Job Gains
The jobless rate in the U.S. has stubbornly remained above 8 percent for more than three years, and the labor market likely saw little improvement in July, economists say in anticipation of the July nonfarm payrolls report due Friday.
US Retailers Dig Their Own Grave
The hefty $7.25 billion settlement that Visa and MasterCard have agreed to, in response to a 2005 class action lawsuit over credit card swipe fees, will disadvantage retailers further and restrict consumer spending in an economy that relies heavily on credit card use and personal expenditure.
Central Bank Preview: What Will Fed, ECB, BOE Do Next Week?
Next week could see some major worldwide financial implications, depending on what three of the world's largest central banks do at their scheduled meetings.
Spain: The Next Wave Of The Financial Crisis Arrives
The Spanish crisis, last week’s German vote, talk of a possible withholding of funds for Greece, and now the downgrading of the credit outlook for Europe’s strongest economies, point to a worsening of the financial crisis, a reduction in support for the euro, and a global economy increasing at risk.
In Advance Of Q2 US GDP Release, Forecasting Economists Race To The Bottom
The more data market-watchers have seen on the U.S. economy, the less they like what they've seen. Specifically, predictions on what the government might report as the rate of GDP growth in the second-quarter of 2012 have plummeted in the past few weeks, as economists adjust their models to one disappointing data release after another.
Investors Demand Strong Outlook, Guidance; Earnings 'Beats' Aren't Enough
U.S. companies have been finding it much easier to deliver earnings beats, or profits that are higher than expected, as analysts on Wall Street continue to trim their forecasts for earnings growth. However, they might have also come to realize that beating earnings expectations alone is not enough to help their stock prices.
Pre-Market Movers (Philips, PhotoMedex, Deutsche Bank, Morgan Stanley, United States Steel, Bank of America, Ford Motor, JPMorgan Chase)
Philips Electronics, PhotoMedex, Deutsche Bank, Banco Santander, Morgan Stanley, United States Steel Corp, Bank of America Corp, Ford Motor and JPMorgan Chase & Co. are among the companies whose shares are moving in pre-market trading Monday.
For Investors In Bank Stocks, Profit, It Seems, No Longer Matters
Investors seem to be disregarding the parade better-than-expected profit figures from major financial institutions this earnings season, instead using top-of-the-line revenue and return on equity numbers to guide their investment decisions.


