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In the second quarter of 2011, the bank lost an astounding $8.8-billion, partially due to the burden of its enormous mortgage/legal liabilities.

Sany Heavy Industry Co Ltd , China's largest construction machinery maker, could raise up to $3.33 billion in the second biggest stock offering this year in Hong Kong, braving volatile markets to raise funds for expansion of its factories.

Countrywide Financial's lawsuit losses could compel parent Bank of America Corp to put up the unit on the bankruptcy block, Bloomberg reported citing four people with knowledge of the firm's strategy.

That's what happened in Cairo. That's what happened in Madrid. You don't want those kinds of riots here.

JPMorgan Chase & Co was sued by Wells Fargo & Co , which seeks to force it to buy back more than 800 soured mortgage loans that it oversees as trustee.

AT&T is launching its 4G LTE network in Atlanta, Chicago, Dallas, Houston and San Antonio next week.

The unemployment rate for college graduates (that is, those holding at least a Bachelor’s degree) is only 4.3 percent.

Steve Burke, the longtime Comcast exec now in charge of the content side that he once tussled with about fees, sang the monetization tune on Wednesday.

The U.S. Department of Energy's loan program for innovative technologies was created under the Bush Administration in 2005, but the first loan guarantee wasn't extended until four years later when the loan office received funding under the federal economic stimulus.

Redwood Trust, a California-based REIT, is about to launch its second private-label RMBS of the year, a US$375.2m prime-mortgage offering called Sequoia Mortgage Trust 2011-2 (SEMT 2011-2), according to a presale report released on Wednesday by Fitch Ratings.

In July, Nomura said it would seek to reduce annual expenses at its wholesale unit by about $400 million.

Republican Bob Turner will be sworn in soon to succeed Anthony Weiner in Congress, representing New York’s Ninth Congressional District. He’ll be the first Republican to represent it since Seymour Halpern in the late 1950s.

The jobs cut is the single largest job reduction by a U.S. company this year, and the most since the U.S. Postal Service said last year it wanted to cut an additional 30,000 jobs.

On the day President Barack Obama sent his $447 billion jobs bill to Congress in a bid to solve America's unemployment problem, the Bank of America delivered an economic blow -- announcing plans to slash as many as 30,000 jobs.

Bank of America tried to grow at the peak of the U.S. financial disaster several years ago, acquiring Countrywide Mortgage and Merrill Lynch, the investment bank, but now the Charlotte, N.C.-based company is destined to shrink. The company disclosed plans on Monday to cut 30,000 jobs, as the nation's largest bank tries to cut costs as the U.S. economy continues in a slow-growth, high unemployment mode.

Bank of America Corp is looking to reduce its annual expenses by $5 billion a year by 2013 through its major cost-cutting initiative, Chief Executive Officer Brian Moynihan said.

The recent executive shakeup at Bank of America followed by reports of massive layoffs at the bank may leave you wondering what the turmoil means for you - either as a client of the banking colossus and Merrill Lynch, the brokerage firm it owns, or as a shareholder.

U.S. stocks tumbled on Friday after the top German official at the European Central Bank resigned in protest of the bank's bond-buying program, which has been a major tool in fighting the region's debt crisis.

In the event the Bank actually follows through with this huge elimination, it would represent one of the biggest job culls in recent corporate history.

Investors are likely skeptical about the efficacy of Obama’s jobs program and whether or not such a massive scheme would pass Congress.

Bank of Nova Scotia (BNS.TO) said on Friday it will buy a near 20 percent stake in Bank of Guangzhou for about C$719 million ($722 million) to expand its footprint in China, becoming the latest foreign bank to invest in a Chinese bank before the bank does an IPO.

Major global banks have been jettisoning workers en masse for the past few months – the brutal manifestation of a grim new economic landscape.

China's inflation pulled back in August from a three-year high while economic activity slowed, underlining expectations that the central bank can hold off on further tightening of monetary policy in the face of a global economic slowdown.

Bank of America Corp officials have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal said, citing people familiar with the plans.

China's inflation pulled back in August from a three-year high, underlining expectations that price pressures have peaked and the central bank can hold off on further tightening of monetary policy in the face of a global economic slowdown.

Bank of America executives have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal reports, citing people familiar with the plans.

The bank’s chief executive Stuart Gulliver warned in August that HSBC will cut up to 30,000 jobs around the world by 2013.

A lawsuit accusing several mortgage lenders of fraud over home loans maintained within the industry's private electronic database cannot proceed, according to a U.S. appeals court ruling.

Bank of America Corp Chief Executive Brian Moynihan is running out of time to fix the largest U.S. bank.