Bank of america Stories
Oh No They Didn't! Top 10 CEO Snafus of 2011
They can make in a month what the average worker earns in a lifetime. Many go about in private jets, employ multiple secretaries and glad-hand dignitaries and world leaders. Perched at the top of major corporations around the world, the chief executive officer blazes trails, inspires awe and commands attention. But under such immense scrutiny, when the CEO slips, the rest of the world takes notice.
2011's 10 Most Important People in World Politics
A list of the ten most important people in world politics from the past year.
Hackers Say They'll Publish E-Mails Stolen from Stratfor
Hackers affiliated with the Anonymous group said they are getting ready to publish emails stolen from private intelligence analysis firm Strategic Forecasting Inc, whose clients include the U.S. military, Wall Street banks and other corporations.
Appeals court to review BofA $8.5 billion MBS pact
A U.S. appeals court agreed to resolve a dispute among institutional investors over whether Bank of America Corp's $8.5 billion mortgage debt settlement should be sent back to a New York state court for approval.
Court Grants Appeal of BofA $8.5 Billion MBS Accord
An appeals court on Tuesday granted an appeal of a controversial ruling that moved consideration of Bank of America Corp's $8.5 billion settlement over mortgage debt to federal court.
Asia Markets Close Higher Friday on Improving U.S. Economic Data
Asia'a markets rose more than 1 percent and U.S. index futures also gained on Friday, as signs of a strengthening economy in the United States encouraged a year-end bounce for riskier assets.
Top After Market NYSE Gainers (GRR, EXH, INT, BAC, ODP, WPX, MNI, ES, NRGM )
The top aftermarket NYSE gainers Thursday were: Asia Tigers Fund, Exterran Holdings, World Fuel Services, Bank of America, Office Depot, WPX Energy, McClatchy, EnergySolutions and Inergy Midstream.
Paulson funds down again in December: source
There will be no holiday cheer for hedge fund manager John Paulson this month, as his dismal performance in 2011 is capped off by another miserable performance so far in December.
California attorney general sues Fannie, Freddie
California Attorney General Kamala Harris sued Fannie Mae and Freddie Mac on Tuesday in an effort to expand her probe into the companies' mortgage foreclosure practices.
BofA's Countrywide to pay $335 million over bias case
Bank of America Corp's Countrywide Financial unit agreed on Wednesday to pay a record $335 million to settle civil charges that it discriminated against minority homebuyers, an historic settlement for the Obama administration in the wake of the subprime mortgage morass.
BofA Reaches $335 Million Deal Settling Discriminatory Lending Suit
Bank of America stressed that only Countrywide's practices are at issue in Wednesday's announcement of a settlement for discriminatory mortgage lending practices.
Bank of America's Settles Countrywide Discrimination Case; Pays Record $335 Million Fine
Investigation had revealed that Countrywide had charged higher fees and rates for more than 200,0000 minority borrowers from 2004-2008, in the midst of the housing boom. Some 10,000 borrowers were also pushed in to sub-prime mortgages when others with similar qualifications got standard mortgages.
Late-day Rally Lifts Bank of America (NYSE:BAC)
A late-day buying spree is causing shares in Bank of America (NYSE:BAC) to soar higher than its big bank peers. The rally began just after 3 p.m., shortly after news broke that the financial institution had settled a federal lawsuit regarding a subsidiary's subprime lending practices for $335 million.
Home foreclosures jump in third quarter-report
The number of new home foreclosures jumped by more than 21 percent in the third quarter as banks moved more aggressively after a pause that began late last year, according to a report released by a bank regulator on Wednesday.
Bank of America: Shoring up Capital Base for Stress Test
Bank of America Corp. (NYSE:BAC) completed its swap of common stock and notes for preferred shares as part of its efforts strengthen its capital base ahead of Fed's 2012 stress test.
Oops! The Top 10 Business Blunders of 2011
Whether it involves embarrassing tweets, tone-deaf CEOs or even the disappearance of money, some oops moments need be relived just one more time.
DJIA Soars, Banks Have Big Trading Day
U.S. stocks soared on Tuesday. The Dow Jones Industrial Average (DJIA) ended up 337 points, or 2.9 percent, to close at 12,103. The S&P 500 Index rose 36 points, or 3 percent, to 1,241, while the NASDAQ rose 80 points, or 3.2 percent, to 2,604.
Technology 2011 in Review: Highlights and Lowlights
No doubt 2011 was a major year for technology in part because it touched everyone differently. Following are some of the highlights and lowlights of the year:
Wall Street to rebound at open, volatility seen
Stocks were poised to rebound at the open Tuesday after declines in the prior session as a drop in Spain's borrowing costs and unexpectedly positive data from Germany eased euro zone debt worries.
Bank of America’s Christmas Gift to Shareholders: A Broken Promise and Further Dilution
Bank of America CEO Brian Moynihan ate his words as the Charlotte, N.C.-based bank once again resorted to non-investor-friendly measures to raise capital, despite saying the bank would not take such actions.
Loan-Modification Blunders Bedevil U.S. Housing Recovery
The federal government's Home Affordable Modification Program is far from perfect, said Josh Zinner, an advocate with the Neighborhood Economic Development Advocacy Project in New York, "but the biggest problem is servicers not doing their job."
7 Positive Predictions for Investors in 2012
With less than two weeks left before the end of the year, all kinds of market participants, from economists at multinational banks to stock bloggers in their bedrooms, have begun to give their predictions for 2012. Here is a lucky set of seven predictions that could benefit investors next year.
Europe's Markets Higher Friday at Mid-Day, Led By Mining Sector
European shares were slightly higher on Friday at mid-day amid thin trading as miners tracked rising metal prices, offset by lingering concerns over the Eurozone debt crisis and reservations ahead of U.S. inflation data.
U.S. Stock Futures Signal Higher Open for Equities
Stock index futures pointed to a higher open for equities on Wall Street on Friday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 rising 0.3 to 0.6 percent.
Fitch Downgrades Seven Global Banks
Fitch Ratings, the third-biggest of the major credit rating agencies, downgraded seven global banks based in Europe and the United States, citing "increased challenges" in the financial markets.
Senator Asks AG to Reject Foreclosure Settlement Waiving Banks' Liability
Sen. Maria Cantwell wrote to Attorney General Eric Holder Thursday expressing concern that a nationwide settlement regarding major banks' foreclosure practices should not grant immunity in future investigations into their conduct leading up to the mortgage crisis.
SEC appeals judge's rejection of Citigroup deal
The top U.S. market regulator is appealing a judge's rejection of a major Citigroup Inc civil securities fraud settlement, according to court papers filed on Thursday.
Lehman Seeks $1.33 Billion Archstone Stake, Challenging Sam Zell
The estate of Lehman Brothers has sought to match Sam Zell's $1.33 billion bid for a 26.5 percent stake in Archstone, sharpening the rivalry for the multifamily housing giant.
SEC Appeals Judge's Scathing Rejection of $285 Million Citigroup Settlement
"We believe the district court committed legal error by announcing a new and unprecedented standard" for approving settlements, Robert Khuzami, head of the Securities and Exchange Commission's enforcement division, said in a statement Thursday.
Morgan Stanley's Job Cuts Only Latest in Wave of Firings at the Heart of Wall Street
Morgan Stanley's announcement that it is slashing 1,600 jobs is only the latest in a late-year blizzard of pink slips being floated among people at the heart of American high-finance. Bonuses are also down sharply. Is the economy Grinch stealing Wall Street's Christmas?