Bank of america Stories
Equity Residential Hikes Potential Bid for Archstone Stake to $1.48B
Real estate mogul Sam Zell's Equity Residential (NYSE:EQR) has raised its minimum bid for a 26.5 percent stake in the long-running battle for control of Archstone, owner of more than 70,000 U.S. apartment units. Earlier this week, the minimum bid was raised to $1.48 billion from $1.32 billion by Bank of America Corp. and Barclays Plc, which own the minority stake in the company. The banks also extended the deadline for Equity's option to buy the stake to April 19 from Feb. 19.
Goldman Sachs, Advent to Buy TransUnion for Over $3 Billion
TransUnion Corp., the third largest provider of credit information to banks and consumers, said Advent International Corp. and Goldman Sachs Group Inc.'s private equity arm agreed to buy the company from Chicago's billionaire Pritzker family and local private equity firm Madison Dearborn Partners LLC for over $3 billion.
Gasoline Prices Hit Record Seasonal High, Could Touch $4.25 by April
Gas prices in the U.S. have gone past $3.50 a gallon, the highest price this time of the year, ticking panic among people who have begun to see the price rises as oppressive.
World Bank President? White House Holding Tongue
Now that President Barack Obama must nominate a new President of the World Bank, he’s keeping his mouth shut, especially in an election year.
U.S. Stocks Gain After Jobs, Housing Reports
The Dow Jones Industrial Average rose 0.76 percent to 12,884.75 by early afternoon trading, while the Nasdaq rose 1.01 percent to 2,945.17. The S&P 500 rose 0.83 percent to 1,354.37.
Moody's: Financial Titans, EU Banks Under Review
Moody's Investors Service placed 114 financial firms , as well as 17 banks and securities firms with global capital markets operations, under ratings review due to the ongoing Eurozone crisis.
Wall Street to Open Flat as Data Offsets Moody's Warning
Wall Street stocks were set to open little changed on Thursday as concerns about a possible downgrade of global banks by Moody's were offset by upbeat U.S. data on the labor and housing sectors.
Stock Futures Decline on Moody's Warnings, Greece
Stock index futures fell on Thursday after a Moody's warning of a possible downgrade of global banks and a further holdup in a bailout for debt-laden Greece.
Stock Futures Down on Moody's Warnings, Greece
Stock index futures fell on Thursday as a Moody's warning of a possible downgrade of global banks and a further holdup in a bailout for debt-laden Greece kept investors nervous.
Moody's Warns of Downgrading 17 Global Banks
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the eurozone government debt crisis is spreading throughout the global financial system.
Moody's Warns Possible Downgrade of 17 Global Banks, Security Firms: How Dim Are Growth Prospects?
Moody's Investors Service placed the ratings of Bank of America Corp., Citigroup Inc. and Goldman Sachs Group Inc. on review for possible downgrade because it says the business' profitability will be diminished longer term.
Moody's Warns Top U.S., Europe Banks of Review
Moody's Investor Service warned Thursday it could downgrade the credit ratings of 17 global banks and securities firms due to more fragile funding conditions, increased regulatory burdens and a more difficult operating environment.
Appeals Court Weighs Next Steps in BofA Mortgage Deal
Legal wrangling over the proposed $8.5 billion settlement of some of Bank of America Corp's mortgage-backed securities liability could drag through the courts for years, a top appeals court judge said during arguments in the case.
Empire State Building Owners File $1 Billion IPO, Plan for REIT
Empire State Realty Trust Inc, the company that controls Manhattan's Empire State Building, plans to raise as much as $1 billion by means of an initial public offering.
Nikkei Slips; Insurers Underperform
Japan's Nikkei share average slipped on Tuesday but still hovered near the 9,000 level, with non-life insurers underperforming after MS&AD Insurance Group Holdings (8725.T) cut guidance on heavy losses on the flooding in Thailand.
Banks Lead Wall Street Higher After Greek Deal
Stocks rose Monday, led by banks after Greece's parliament approved strict financial reforms needed to obtain an international bailout package.
Wall Street Higher on Greek Deal
Stocks rose Monday as Greece's parliament approved strict financial reforms needed to obtain its latest international bailout package.
Empire State Building Owner Files for IPO
The Malkin family, owner of the Empire State Building and other properties in New York and Connecticut, has filed for an initial public offering that will allow the public to own a piece of the storied Art Deco landmark.
Empire State Building Owner Files for $1 Billion IPO
Empire State Realty Trust, owners of the iconic Empire State Building, filed to sell up to $1 billion of its Class A common stock, giving ordinary investors a chance to own a piece of the building that has been fought over by billionaires.
Tom Storrs Dies at 93; CEO Helped Build Bank of America
Tom Storrs, who set a small North Carolina bank on the path to becoming one of the largest U.S. financial institutions, died Friday at age 93.
Tom Storrs, CEO who helped build Bank of America, dies
Tom Storrs, who set a small North Carolina bank on the path to becoming one of the largest U.S. financial institutions, died Friday at age 93.
Bank of America Declares Living Customer Dead
Bank of America has been reporting Arthur Livingston, of South Carolina, as dead to the three major credit agencies since May 2009. Although he is very much alive, the regional manager of a chemical company's credit report reads, File not scored because subject is deceased.
Massachusetts subpoenas Bank of America documents
Massachusetts securities regulators said on Friday that they were subpoenaing Bank of America Corp for documents to determine whether the lender had knowingly overvalued assets in some investment products.
U.S. Stocks Fall on Greek Bailout Uncertainty
U.S. stocks dropped on Friday as the most recent flare-up in Greek negotiations for a financial bailout package put the S&P 500 on track to snap a three-day winning streak.
U.S. bank regulators roll fines into mortgage pact
The Federal Reserve announced on Thursday it has reached an agreement with five U.S. banks on penalties totaling $766.5 million over problems in their mortgage servicing businesses as part of a larger $25 billion foreclosure deal struck between the banks and state and federal agencies.
Bank regulators roll fines into mortgage pact
The Federal Reserve announced on Thursday it has reached an agreement with five U.S. banks on penalties totaling $766.5 million over problems in their mortgage servicing businesses as part of a larger $25 billion foreclosure deal struck between the banks and state and federal agencies.
Foreclosure Settlement: Is it Too Little? Top Negotiator Defends Deal
Officials Thursday detailed a nationwide settlement with five large banks over foreclosure practices. Negotiators defended the deal as a way to give immediate relief to homeowners and victims of foreclosure abuses.
Will the $26 Billion Mortgage Settlement Help You?
The massive $26 billion mortgage settlement between states and banks is designed to help millions of American homeowners -- but not everyone is eligible.
States, Lenders Reach $26 Billion Mortgage Settlement
Forty-nine states and five major banks reached a $26 billion mortgage settlement that will aid about two million homeowners, government officials announced Thursday.
U.S. Reaches Mortgage Deal with Top Banks
The announcement caps more than a year of chaotic negotiations among state and federal officials, and the banks, who have been accused of using robosigners and unlawful documentation to deal with a flood of foreclosures.