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Bank of America-Merrill Lynch is cutting around a fifth of its managing directors across its Asia investment banking division, sources said Monday, in a bid to cut costs as the outlook sours in a once-booming region.

As the government nears a deal with top banks to resolve mortgage abuses, the Justice Department has begun reaching out to other banks to gauge their interest in joining the wide-ranging settlement, according to a person familiar with the matter.

As the U.S. government nears a deal with top banks to resolve mortgage abuses, the Justice Department has begun reaching out to other banks to gauge their interest in joining the wide-ranging settlement, according to a person familiar with the matter.

Federal Reserve Gov. Sarah Bloom Raskin said on Saturday the Fed must impose monetary penalties on banks that entered into an April agreement with regulators over how to fix problems in their mortgage-servicing businesses.

The Dutch government has appointed Credit Suisse to advise on a potential sale of its 33 percent stake in UK-based uranium enrichment company Urenco, people familiar with the situation told Reuters on Friday.

Canada gained 17,500 jobs in December, but the jobless rate rose and the new positions were all part time, further evidence its post-recession hiring surge has ended even as U.S. jobs growth finally picks up the pace.

Hedge fund manager John Paulson lost more than half of the capital in one of his firm's biggest funds, people familiar with the number said Friday.

The estate of Lehman Brothers is battling Bank of America and Barclays in court over the sale of Archstone, the large multifamily housing landlord that real estate mogul Sam Zell's Equity Residential is seeking to buy.

Corporate America's worst nightmare lives in a tiny one-bedroom apartment, loves browsing in flea markets and has a lop-eared brown and white pet rabbit named Crackers.

Banks led Wall Street to gains on Thursday even as Europe struggled again, a sign investors are betting a relatively strong U.S. economy will help U.S. stocks outperform other markets.

In his first full day as chief of the Consumer Financial Protection Bureau, Richard Cordray sought to lower the political heat around the agency, saying it would earnestly get to work targeting all the bad actors in the lending industry.

Bank of America Corp shares surged more than 7 percent on Thursday, outpacing other U.S. banks on a day of positive job news.

Stocks rose on Thursday led by bank shares as investors bet a stronger economy will help boost balance sheets of U.S. based lenders.

Red tape at Bank of America prevented a new bride from depositing checks from her wedding because many of her guests didn't realize she was keeping her last name.

Concern about the appetite for Eurozone sovereign debt pushed European stocks lower and hit the single currency on Thursday, with the first French bond auction of 2012 set to test how much progress policymakers have made in easing tensions.

Richard Cordray's short time as Ohio's attorney general earned him national recognition as a Wall Street watchdog.

Bank of America Corp. (NYSE:BAC) lost a key ruling against MBIA Inc. (NYSE:MBI), which granted the latter company court permission to pursue further legal action against Bank of America, Bloomberg reported Tuesday.

An analysis released Tuesday by Morgan Stanley analyst Adam Parker suggesting U.S. equities will finish the year more than 8 percent lower than where they began is making those who follow the American stock market nervous. And for good reasons.

There are only hours left for Iowans to choose their Republican presidential nominee. The top two candidates seem set for a dead heat finish, while a third is trying to make the best use of a last minute and surprising surge forward in polls.

Crude prices started their jolly ride to the top in February last year when simmering discontent in the Middle East erupted into several violent anti-government protests.

French architect Christian de Portzamparc's One57 is set to become the tallest residential building in New York -- and the United States.

Hackers affiliated with the Anonymous group published hundreds of thousands of email addresses belonging to subscribers of private intelligence-analysis firm Strategic Forecasting Inc., along with thousands of customer credit-card numbers.

Lest you fear Verizon has gone mad with power by trying to charge people $2 for paying their bills online, take heart because the Interwebz have spoken. Less than 24 hours after news got around that Verizon was going to institute the convenience fee in January, the company has retracted the fee.

Only a day after announcing it would impose a $2 fee for one-time online and telephone bill payments, Verizon Wireless on Friday scrapped the plan because of consumer backlash.

Shares of Verizon Communications, majority owner of Verizon Wireless, rose after the company squelched a day-old plan to charge customers a $2 “convenience fee” to pay their bills.

Stocks were nearly unchanged on Friday, the last trading day of a turbulent year, but the S&P 500 looked set to end with a slight gain.

Ken and Meredith Williams produced a satiric YouTube video warning Bank of America, "Don't let anybody tell you you're too big to fail, cause you belong in jail."

Verizon Wireless, the nation's largest wireless service carrier, will charge $2 “convenience fee” to its customers, who pay one-time bill online or by telephone, starting from Jan. 15.

Verizon Wireless will be charging customers a $2 “convenience fee” for single bill payments made online or over the telephone.