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Stocks pared losses on Wednesday as oil prices trimmed earlier losses and bank stocks advanced following reassuring comments from Bank of America chief executive.

U.S. stocks pared losses on Wednesday as oil prices trimmed earlier losses and bank stocks advanced following reassuring comments from Bank of America chief executive.

Bank of America Corp Chairman and Chief Executive Kenneth Lewis said the largest U.S. bank could repay the $45 billion of government capital it has taken by late 2009 or early 2010, depending on the economy, according to an interview published in the Charlotte Observer.

Merrill Lynch & Co has taken full control of its Indian unit DSP Merrill Lynch after Hemendra Kothari, the subsidiary's founder and chairman, said he had sold his 10 percent stake to the firm ahead of his retirement.

The chairman of the House Committee on Oversight and Government Reform has asked for records on the $3.62 billion of year-end bonuses at Merrill Lynch, to see if the panel was misled about the payments, the Wall Street Journal said.

Asian stocks jumped to a one-month high on Tuesday, with banks extending gains on hopes the struggling global financial system is stabilizing, despite reports showing the U.S. economy is deteriorating further.

Asian stocks climbed on Tuesday, with banks extending gains on hopes the struggling global financial system is stabilizing, despite reports showing the U.S. economy is deteriorating further.

U.S. bank stocks, which had their best week on record last week, powered higher amid optimism they can soon return to profitability, only to give back their gains after American Express Co said more credit card customers are missing payments.

Stocks fell on Monday after American Express Co said the number of people struggling to make credit card payments grew, erasing earlier optimism that banks could return to profit in the downturn.

U.S. bank stocks, which had their best week on record last week, powered higher again on Monday amid optimism that banks are succeeding in efforts to restore profitability, and that a change to accounting rules might alleviate feared capital shortfalls.

Wells Fargo & Co's chairman lambasted the U.S. government for imposing new curbs on lenders that receive federal bailout money, and called the federal plan to subject big banks to stress tests asinine.

Stocks rose for a fifth day in a row on Monday after Barclays joined other major banks in saying it had a strong start for 2009, fueling hopes that the beaten-down sector may be stabilizing.

Citigroup Inc awarded Chief Executive Vikram Pandit $10.82 million of compensation in 2008, a year when the government propped up the bank with $45 billion of capital.

The Dow industrials and the S&P 500 climbed on Monday as Barclays said it had a strong start for 2009, joining other major banks, and added it discussed selling one of its units.

British bank Barclays Plc said it is considering selling iShares, part of its fund management arm, and said it was trading strongly, sending its stock up by more than a fifth.

Bank stocks rose Monday on optimism that efforts to revive economies worldwide will bolster results.

Citigroup Inc awarded Chief Executive Vikram Pandit $10.82 million of compensation in 2008, a year in which the bank required two government rescues totaling more than $45 billion.

Citigroup, in remaking its Board of Directors amid an unprecedented financial crisis has nominated four new candidates which include a pair of veterans from the banking industry, a former Fed president and risk management professor, and a leader in a top investment firm.

Citigroup Inc awarded Chief Executive Vikram Pandit $10.82 million of compensation in 2008, a year in which the bank required two government rescues totaling more than $5 billion.

The Dow and S&P 500 stock indexes rose on Monday, extending their recovery from 12-year lows reached this month, as investors became more hopeful that some stabilization may be returning to the banking sector.

The Dow and S&P 500 stock indexes rose on Monday, extending their recovery from 12-year lows reached this month, as investors became more hopeful that some stabilization may be returning to the banking sector.

Citigroup Inc awarded Chief Executive Vikram Pandit $10.8 million of compensation in 2008, a year in which the bank required two government rescues totaling more than $45 billion.

Stocks on Monday were set to extend their recovery from 12-year lows reached earlier this month after Britain's Barclays became the latest bank to buoy hopes that some stabilization may be returning in banking.

British bank Barclays Plc on Monday confirmed it had discussed selling its iShares unit and said it was trading strongly, sending its shares up by more than a fifth.

Stock futures rose on Monday, putting Wall Street on course to extend its recovery from 12-year lows reached earlier this month, after Britain's Barclays became the latest bank to buoy hopes that some stabilization may be returning in banking.

Bailed out insurance giant American International Group Inc used $107.8 billion dollars from September 16, 2008 to the end of the year to fulfill obligations to customers, revealing for the first time the names of the firms receiving funds.

Bank of America Chairman and Chief Executive Officer Ken Lewis said his bank was profitable in the first two months of the year and called possible nationalization of the bank a “nightmare.”

A longtime banking executive who sold his company to a Bank of America Corp predecessor is calling on other shareholders to oust the embattled Kenneth Lewis as chairman of the largest U.S. bank.

Bank of America Corp investor Jerry Finger and his family is calling on other shareholders to vote to replace Chief Executive Kenneth Lewis as chairman of the board.