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Stocks slid on Monday, as bank shares fell after a widely-followed analyst recommended investors reduce or sell holdings of several large bank stocks, sapping recent optimism on the health of the financial sector.

Stocks slid on Monday, as bank shares fell after a widely-followed analyst recommended investors reduce or sell holdings of several large bank stocks, sapping recent optimism on the health of the financial sector.

U.S. congressional budget analysts have raised their estimate of the net cost to taxpayers for the government's financial rescue program to $356 billion, an increase of $167 billion from earlier estimates.

Bank of America Corp Chairman and Chief Executive Kenneth Lewis said it may take several quarters for the bank to repay its $45 billion of federal bailout money, although he believes the U.S. economy may bottom out in the second half of this year.

Bank of America Corp Chairman and Chief Executive Kenneth Lewis said it may take several quarters for the bank to repay its $45 billion of federal bailout money, though he believes the U.S. economy may bottom out in the second half of this year.

U.S. regulators have reached the closing phase of stress tests to gauge the health of the nation's top banks, and are bracing for a battle to get those firms to accept tough appraisals.

Fresh speculation has swirled about mining giant BHP Billiton resurrecting a takeover bid for rival Rio Tinto, but such a move is unlikely before Rio repairs its balance sheet.

About 250-300 employees at fraud-hit Indian outsourcer Satyam Computer Services are joining Bank of America the Business Standard newspaper said on Wednesday.

Asia's banks are likely to step in with loans and boost their presence across the region as the credit crisis has forced big Western rivals to retreat.

U.S. activist investors are seeking to oust board members at beleaguered banks whom they blame for helping cause the companies' financial woes, setting the stage for drama at upcoming annual shareholder meetings.

A U.S. regulator has ordered Merrill Lynch & Co to pay close to $40 million after its Advest unit advised an endowment to buy a stake in a fund affiliated with the collapsed commodities broker Refco Inc.

China Construction Bank (CCB), the world's second-largest lender by market value, said on Monday it would be reasonable for major shareholder Bank of America to reduce its stake to 10 percent.

Stocks fell sharply on Monday as the Obama administration raised the specter of bankruptcy for U.S. automakers General Motors and Chrysler and Spain had to rescue regional savings bank CCM.

U.S. stock index futures pointed to a sharply lower open on Monday as the Obama administration threatened bankruptcy for two major U.S. automakers and Spain had to rescue regional savings bank CCM.

President Barack Obama said on Sunday he told the chiefs of the biggest U.S. banks that bonuses are not acceptable while many Americans struggle to meet basic expenses in the midst of a severe recession.

The President’s meeting with the top U.S. bankers on Friday was a non-confrontational gathering, which nevertheless saw the nation’s chief executive tell the industry leaders that it was necessary to show restraint while continuing to help the nation by continuing to lend, according to several reports.

The U.S. banking system showed some signs of thawing this week, but it may prove to be a false spring.

President Barack Obama won support from top bankers on Friday for his efforts to rid financial institutions of bad debts, but differences remained over broader U.S. plans for the financial industry.

Wall Street capped a strong week on a down note on Friday as investors booked profits in the wake of the recent upward surge and bank shares dropped after bank executives indicated March had been a tougher month for the industry than the previous two.

U.S. stocks fell on Friday as investors booked profits following a recent rapid surge, while the energy sector dropped along with the price of oil.

Things are getting tense at Japanese brokerage Nomura Holdings .

Bank of America Corp , the largest U.S. bank, is folding its Premier Banking unit into Merrill Lynch Global Wealth Management, laying off several hundred workers, the Wall Street Journal said.

President Barack Obama will tell bankers on Friday we're all in the same boat while pressing them to support his strategy to unlock credit markets ahead of next week's G20 meeting of world leaders.

The top 50 U.S.-based bank holding companies, which represent three fourths of all assets at such companies reported a aggregate loss of $67 billion in 2008, a Fed official testified on Wednesday.

Stocks rose in a late rally on Wednesday as unexpectedly strong housing and durable goods data fueled hopes the economy is finally on the mend, offsetting concerns the United States may struggle to fund plans to pull the economy out of recession.

Bank of America Corp Chief Executive Kenneth Lewis said the largest U.S. bank wants to start repaying $45 billion of federal bailout money next month, after completing a government stress test, the Los Angeles Times reported on Wednesday.

Stocks jumped on Wednesday as upbeat housing and durable goods data fueled hopes that the toll taken by the recession may be abating, lifting shares of big manufacturers, banks and home builders.

Wall Street looked set to rise at the open on Wednesday as investors were encouraged by data showing signs the economic downturn was moderating, and by positive comments from President Barack Obama.

Stock index futures pointed to a mostly higher open on Wednesday after positive comments on the economy from President Barack Obama, as investors looked to upcoming data for signs of improvement.