Sponsored by Bank of america

Bank of America shares surged more than 11 percent on Wednesday after J.P. Morgan predicted the company would raise capital in the near future.

China's factory sector is likely to slow slightly for a second consecutive month in August as sluggish overseas demand saps new orders, HSBC's China Flash PMI showed on Tuesday.

Economic growth is stagnating in Europe and cooling slightly in China, according to surveys of business activity released on Tuesday, fuelling concern about the risk of a global slump as Western governments struggle to cope with their debt problems.

Stocks shot three percent higher on Tuesday on speculation Federal Reserve Chairman Ben Bernanke this week would signal new help for the economy, giving investors hope a four-week rout was nearing an end.

As Bank of America's stock dropped to a 52-week low in trading Tuesday and UBS became the latest bank to announce jobs cuts there's good news from the financial services industry -- a quarterly report from the FDIC shows that banks' finances are improving.

UBS announced cuts of 3,500 employees on Tuesday, mostly in its investment banking division, as the layoff trend continues in the banking industry.

Bank of America Corp shares fell as much as 6 percent on Tuesday morning amid fears the bank would have to raise more capital.

Bank of America Corp shares fell as much as 6.2 percent in morning trading Tuesday amid fears that the largest U.S. bank by assets will need to raise capital to absorb billions in mortgage losses.

Bank of America shares dropped to a 52-week low during early trading on Tuesday, as the company saw its stock drop more than 5 percent at times.

Here are some of the largest global banks that are planning significant job cuts.

The company expects to record a restructuring charge of about 550 million Swiss Francs (U.S. $700 million) in connection with the cuts.

China's factory sector is likely to slow slightly for a second consecutive month in August as sluggish overseas demand saps new orders, HSBC's China Flash PMI indicated Tuesday.

Bank of America Corp (BAC.N) shares fell nearly 8 percent on Monday, reaching their lowest level since March 2009, as investors fretted the bank may need to raise some $50 billion of capital and worried about potential additional mortgage lawsuit payouts.

South Korea's sovereign wealth fund said it had reinvested $78 million, around half the dividend it received from its $2 billion investment in Bank of America , back in the U.S. bank's shares this year.

World stocks eked out a gain on Monday, stabilizing after the previous four weeks of sharp losses, while Brent crude prices slipped on prospects Libya's civil war will soon end.

A New York state judge granted the request of dozens of investors including pension funds, insurers and several Federal Home Loan Banks to intervene in Bank of America Corp's proposed $8.5 billion settlement with investors who lost money on mortgage-backed securities.

China shares in Shanghai and Hong Kong fell on Monday as investors hammered companies reporting weak or forecast-meeting results, while a late jump in HSBC helped the Hang Seng index offset some of those losses and end higher.

Bank of America Corp shares fell as much as 6.6 percent on Monday, reaching their lowest level in two weeks, as investors fretted about the bank facing additional legal liabilities over mortgages.

Bank of America Corp shares fell as much as 6.6 percent on Monday, reaching their lowest level in two weeks, as investors fretted about the bank facing additional legal liabilities over mortgages.

Here are the top ten things the bank’s chief executive, Brian Moynihan, should have said about the massive job cuts he is proposing.

The U.S. Federal Reserve lent private banks about $1.2 trillion from 2007-2009 in order to maintain credit market liquidity, bank function, and prevent the U.S. economy from plunging in to a depression.

In early summer, before layoffs began sweeping across Wall Street, billboard-sized photos of employees were plastered on the walls, pillars and elevator banks of Credit Suisse Group AG's offices in the United States and abroad.

The company has about 15,000 employees in the Charlotte area.

Pastor Zachery Tims' funeral arrangements are set for Saturday 11 a.m., at First Baptist church of Orlando, but the ceremony will be held privately and will not stream live online.

Large banks in the U.S. and Europe are undergoing a massive and painful re-organization in order to confront the gloomy new realities of the global economic landscape.

Bank of America Corp plans to cut 3,500 jobs in the next few weeks as CEO Brian Moynihan tries to come to grips with the bank's $1 trillion pile of problem home mortgages.

These banking institutions plan to let go tens of thousands of people around the world, the victims of a merciless economic climate and a brutal refiguring of the global banking industry.

Here are some of the largest global banks that are planning significant job cuts.

Mourners from around the world will pay their last respects this weekend to Dr. Zachery Tims, Jr., the founder and senior pastor of one of Florida's most largest churches.