Bank of america Stories
Moment of truth for Merrill bonus names next week
New York State Supreme Court Justice Bernard Fried said at the end of a hearing on Friday that he would issue a ruling within the next week in a legal tussle between New York Attorney General Andrew Cuomo and Bank of America Corp , which bought Merrill on January 1. The judge will rule whether the names of 200 top bonus earners at Merrill Lynch & Co should be kept confidential.
Ruling due next week on naming Merrill bonus earners
A judge said he expects to rule by the end of next week on whether the names of top bonus recipients at Merrill Lynch & Co should remain confidential.
Dow and S&P rise as Citi news fans bank hopes
The Dow and the S&P 500 stock indexes rose for a fourth straight day on Friday after Citigroup said it did not need any more government aid, bolstering hopes that stabilization is returning to banking.
Lawmakers seek to tie exec pay to performance: report
New York State Attorney General Andrew Cuomo, Rep. Barney Frank and other lawmakers are discussing a plan to link executive pay to the long-term performance of companies, the Wall Street Journal said.
BofA shareholder rejects CEO Lewis as chairman: report
Bank of America Corp investor Jerry Finger is calling on other shareholders to vote to replace Chief Executive Kenneth Lewis as chairman of the board, The Wall Street Journal reported on Friday.
Stock futures jump as Citi chairman fuels bank optimism
Stock index futures pointed to a fourth straight day of gains on Friday after Citigroup said it did not need any more government capital infusions, bolstering investor optimism that banks might be seeing some stabilization.
BofA seeks more jumbo mortgages: report
Bank of America Corp is seeking to produce more jumbo mortgages, which can range from $417,000 in most areas to as much as $729,750, Barbara Desoer, the bank's head of mortgage, home equity and insurance services told Bloomberg in an interview.
AIG asked Buffett for help before U.S. rescue: report
Warren Buffett said he was approached twice to help American International Group Inc in the final days before the U.S. government rescued the insurer last September, Bloomberg said.
U.S. lawmakers seek to tie exec pay to performance: report
New York State Attorney General Andrew Cuomo, Rep. Barney Frank and other lawmakers are discussing a plan to link executive pay to the long-term performance of companies, the Wall Street Journal said.
China says can spend more; U.S. banks cheer markets
China said it was ready to pump more money into its economy and saw a pick-up in trade, offering another glimmer of hope for the battered global economy as signs that big U.S. banks may be turning around lifted world stocks.
Bank of America soars, CEO says bank in the black
Bank of America Corp Chief Executive Kenneth Lewis said on Thursday the largest U.S. bank was profitable in January and February and said it should be able to ride out the recession without new help from the nation's taxpayers.
Nationalizing banks would be nightmare: B of A CEO
Bank of America Corp's chief executive said on Thursday it would be a nightmare for U.S. banks to be nationalized, wiping out shareholders and perhaps bondholders, and further damaging an economy that might begin to recover as soon as this year.
Wall Street stocks continue rise with Citigroup in the lead
On Wednesday U.S. stocks continued their rise after being boosted by banks renewing investor hopes in the financial sector.
Merrill may have misled Congress on bonuses: Cuomo
Merrill Lynch & Co may have misled Congress in representing last November that it planned to pay out bonuses at year end, when in fact it decided to accelerate those payouts, New York Attorney General Andrew Cuomo said on Wednesday.
Merrill bonuses may have predated losses: Cuomo
Merrill Lynch & Co traders may have booked hefty losses late last year only after learning of their 2008 bonuses, but executives chose not to revisit their decision to pay out $3.62 billion of bonuses, New York Attorney General Andrew Cuomo said on Wednesday.
Bank of America may get by without big asset sales
Bank of America Corp has put a private bank it inherited from Merrill Lynch & Co on the block, and the largest U.S. bank may try to sell other assets as well.
Citi's profit view, uptick talk drive big rally
U.S. stocks posted their best day in four months on Tuesday after Citigroup said it was profitable in the first two months of 2009.
Wall Street rallies on Citigroup's view and uptick talk
U.S. stocks posted their best day in four months on Tuesday after Citigroup said it was profitable in the first two months of 2009.
Citigroup's Pandit says bank profitable, shares soar
Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the bank's survival prospects and sending its shares up 38.1 percent.
U.S. mortgage policy draws ire from bond investors
U.S. mortgage bond investors are crying foul as federal policy responses to the worst housing crisis since the 1930s threaten to cripple their tenuous positions.
Investors fume at mortgage policy favoring banks
U.S. mortgage bond investors are crying foul as federal policy responses to the worst housing crisis since the 1930s threaten to cripple their tenuous positions.
Citigroup CEO Pandit says bank profitable
Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the troubled bank's survival prospects.
Citigroup CEO says bank profitable
Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the troubled bank's survival prospects.
Wall St rallies as banks boost sentiment
U.S. stocks rose about 5 percent on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the restoration of a rule that makes it harder to bet that a share's price will fall.
Wall Street rallies as Citi memo fuels optimism
Stocks rose sharply on Tuesday as financials led a broad run-up from 12-year lows after reassurance from Citigroup about its performance, while investors turned hopeful about efforts to stem the economic slide.
Pandit says Citi had strong start to 2009
Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the troubled bank's survival prospects.
Merrill paid Latam banker Bettamio $7 million bonus: report
Merrill Lynch & Co paid Latin American investment banker Alexandre Bettamio, whom it poached from UBS AG, at least $7 million in guaranteed bonuses for 2008, the Wall Street Journal said, citing people familiar with the matter.
Cuomo, Frank demand BofA/Merrill bonus information
New York state's top legal officer and U.S. Rep. Barney Frank demanded on Monday that Bank of America Corp provide more details on $6.9 billion in bonuses paid in 2008, including $3.6 billion at the former Merrill Lynch & Co.
Barclays to buy Bear Wagner unit from JPMorgan
Barclays agreed on Monday to acquire the Bear Wagner Specialists LLC operations from JPMorgan Chase & Co, a move that will leave the New York Stock Exchange with five designated market makers.
BofA turns to gov’t to sell $8.5 billion in debt: report
Taking advantage of a government program approved last year designed to provide liquidity to financial institutions during the credit crisis, Bank of America Corp. has sold $8.5 billion of debt backed by the Federal Deposit Insurance Corp., according to a report.